Peak Oil September, 2006

Korting bij Tango IMG_20140110_0057 Rosso benzina Gas station Switzerland De eerste goedkope benzine Benzineprijs september 2012 in Frankrijk.

Running out of Oil?

Oil importing countries faced an unassailable challenge with the "historic high" price of oil. In 1864, a barrel of Pennsylvanian oil traded for 8.06 in dollars of the day ($97.79 of 2004) and in 1980, a barrel of Arabian light (posted at Ras Tanura) sold for 35.69 in dollars of the day ($82.15 of 2004). The world has not yet faced a "fourth oil shock" mainly because the price went up gradually to over $70 a barrel over a full three-year period, unlike in 1979-80. There is a "fear" premium of $7 to $15 due to the destabilisation of the Gulf region. The world energy growth started to increase significantly from 1995. Especially since 2002, the real trend of growth rate of world oil demand is well above 2.25 per cent a year. For some countries, notably China, Iran and Brazil, the growth rate is at least 4 per cent ...

Crude Oil Market Turning Point

There are three choices for the market in crude oil after its recent steep falls. It can stay roughly around where it is now, $62. It can fall back down through the technical and software barriers that support it to new year lows or it can go higher once more. Perhaps very high. It all depends who, or what, you believe. If you believe the Dow Jones then there can only be one answer. That the market is robust, economic growth is on the move and the demand for goods and services is going to continue to suck up more and more crude oil. Equities are hot; the media is telling us corporations are strong. » Source: Resource Investor Then again maybe we should ask 32 year old trader Brian Hunter. He was the chief guy trading energy at hedge ...

Post-Oil Infrastructure Technology

Most schemes for a post-oil technology are based on the misconception that there will be an infrastructure, similar to that of the present day, which could support such future gadgetry. Modern equipment, however, is dependent on specific methods of manufacture, transportation, maintenance, and repair. In less abstract terms, this means machinery, motorized vehicles, and service depots or shops, all of which are generally run by fossil fuels. In addition, one unconsciously assumes the presence of electricity, which energizes the various communications devices, such as telephones and computers; electricity on such a large scale is only possible with fossil fuels. » Source: Counter Currents To believe that a non-petroleum infrastructure is possible, one would have to imagine, for example, solar-powered machines creating equipment for the production and storage of electricity by means of solar energy. This equipment would then be loaded ...

Cities of the Future

Back in the early 20th Century, when the cheap oil fiesta was just getting underway, and some major new technological innovation made its debut every month – cars, radio, movies, airplanes – there was no practical limit to what men of vision could imagine about the future city, though often their imaginings were ridiculous. The representative case is Le Corbusier (Charles-Edouard Jeanneret; 1887 – 1965), the leading architectural hoodoo-meister of Early High Modernism, whose 1925 Plan Voisin for Paris proposed to knock down the entire Marais district on the Right Bank and replace it with rows of identical towers set between freeways. » Source: James Howard Kunstler Luckily for Paris, the city officials laughed at him every time he came back with the scheme over the next forty years – and Corb was nothing if not a relentless self-promoter. ...

The Peak Oil Crisis

Events move quickly these days. Two months ago oil was north of $78 a barrel and, nationwide, gasoline was above to well above $3. The Middle East was threatening a conflagration and another exciting hurricane season was in the offing. Even the concept of peak oil was starting to get some scattered but serious attention in the media. Now here we are at the end of September. The price of crude is down nearly 25 percent. Gasoline is down 75 cents a gallon. The press is full of stories of a great new oil find in the Gulf that could show the way to a cornucopia of oil. The Dow is pushing an all-time high, and financial analysts are predicting lower inflation and solid growth in the year ahead. Finally, those who don't want to believe in peak oil are loudly proclaiming, "I told you so." » Source: ...

The Theory of Peak Oil

"None of us can go a little way with a theory," wrote John Henry Cardinal Newman (1801-1890) in his book Essays Critical & Historical . "When it once possesses us, we are no longer our own masters. It makes us speak its words, and do violence to our nature." What is theory? What an interesting quotation about theory from the good cardinal. But before we go too far along, here is the next question: What is theory? The word itself derives from the Greek word “theoria,” meaning examination, contemplation, or speculation. A theory is a doctrine, or scheme of things, which terminates in speculation or contemplation. Or you can say that it is an exposition of the general principles of a given field of study. A simple way to understand the concept of a theory is that it is the premise or set of premises upon which an argument rests, although the ...

Peak Oil Revolution

Albert Einstein said, "We cannot solve our problems with the same thinking we used when we created them." He also said, "Any fool can make things bigger, more complex, and more violent. It takes a touch of genius-and a lot of courage-to move in the opposite direction." I spent the weekend with genius and with courage, and I am happy to report that they are alive and well and working on our problems. Most Americans are not yet familiar with the coming tide of instability. Asleep and dreaming the American Dream, many are unaware of the issues associated with energy and environment that face our people and all of humankind. Scores of those who are aware of our troubles have convinced themselves that the answer lies in more of the same. But there are those who have another idea. » Source: Energy Bulletin ...

BP Oil Production Increase at Prudhoe

Alaska Oil giant BP PLC restarted the eastern side of the Prudhoe Bay oil field - shut down since August when a leak was found - and expects production to reach 150,000 barrels a day by the weekend, a BP spokesman said Tuesday. The eastern side of the country's largest oil field ceased production Aug. 10, a few days after a leak was discovered in a corroded transit line. Initially, the company expected to shut down the west side of the field as well, but kept that side in operation after determining it could be operated safely. The west side is producing about 200,000 barrels a day. » Source: International Herald Tribune Production in the northern part of the field adds about 50,000 barrels a day. The entire field normally produces about 450,000 barrels of petroleum products. BP plans ...

OPEC Oil Supplies Lower

Oil supplies from the Organization of Petroleum Exporting Countries (Opec) fell 400,000 barrels a day on the month to 30.2 million bpd in September, according to preliminary figures from tanker tracker Petrologistics. Saudi Arabia and Iran led the fall in output. Petrologistics head Conrad Gerber said the kingdom produced 9.05 million bpd in September compared with 9.27 million bpd in August. » Source: Bahrain Tribute Saudi Oil Minister Ali Al Nuaimi said in June that Opec’s biggest producer had reined in output to 9.1 million b/d in April from 9.5 million bpd on lower demand. “Saudi Arabia could be producing more, but some of it could be going into storage,” Gerber said. Iran’s output, which peaked in July at 4.2 million bpd when the Islamic Republic sold oil from floating storage, is at 3.9 million bpd in September, Gerber said. Iran supplied 4.0 million bpd ...

Nuclear Powered Oil Sands Production?

The much-touted potential for Canada's oil sands to offset projected declines in North American oil production remains highly questionable because of constraints on natural gas production and environmental problems, a group of Swedish industry experts concludes in a new report. To meet its ambitious targets, the industry would likely require the construction of a nuclear power plant near Fort McMurray in Alberta in order to replace natural gas in the energy-intensive production process, the scientists argue. » Source: Globe and Mail Writing in the influential European journal Energy Policy last month, the analysts for the Uppsala Hydrocarbon Depletion Study Group warned that the world should not count on Canada's massive oil sands deposits to meet future demand growth. "While the theoretical future oil supply from the oil sands is huge, the potential ability for the Canadian oil sands industry to meet expectations ...