The end of an era. The Oil Drum was the single best source for intelligent discussions about the future of world energy production, with a contrapuntal theme of global warming chat. Rembrandt broke the news that TOD is closing: …due to scarcity of new content caused by a dwindling number of contributors. Despite our best […]
By Jean Laherrere16 May 29013 (tribune-pic-petrolier.org) – It is well known that OPEC reserves were inflated after the 1986 oil counter chock, because the fight on quotas mainly based on reserves. Over 1986-89, 300 Gb of “political” reserves were added (not involving extra-heavy (XH) oil). This was confirmed by the former Aramco VP Sadad al-Husseini […]
By Matthieu Auzanneau19 April 2013 (The Oil Drum) – The combined crude oil production of the five main international oil companies (Exxon, BP, Shell, Chevron and Total) hit an historic high in 2004. Since then, it has fallen by 25.8%, despite large increases in investments. Total crude oil produced by the majors was 10.760 million […]
By Raymond T. Pierrehumbert6 February 2013 (Slate) – Like swallows returning to San Juan Capistrano, every December some 20,000 geoscientists flock to San Francisco for the fall meeting of the American Geophysical Union. Slate readers have already heard about a presentation with a particularly eye-catching title, but for me some of the most thought-provoking news […]
By Ugo Bardi13 December 2012 In 2003, I attended my first conference on peak oil, in Paris. Everything was new for me: the subject, the people, the ideas. It was there that I could meet for the first time those larger than life figures of ASPO, the association for the study of peak oil. I […]
By Euan Mearns 28 November 2012 Executive summary OPEC is currently pumping at close to near term and historic highs of 31.2 mmbpd of crude oil. Outside of Saudi Arabia, the majority of spare capacity is deemed to lie in Iran and Nigeria. Iran could certainly pump more if permitted to do so by the […]
By Kurt Cobb8 October 2012 Many people dismiss the risks associated with oil depletion and climate change – even many who accept the two issues as problems. They judge those risks to be small or at least manageable. Since no one can know the future, we cannot be sure whether they are right or wrong. […]
By Terry Weiss, Money Morning Richard Duncan, formerly of the World Bank and chief economist at Blackhorse Asset Mgmt., says America’s $16 trillion federal debt has escalated into a “death spiral, “as he told CNBC. And it could result in a depression so severe that he doesn’t “think our civilization could survive it.” And Duncan […]
26 August 2012 (CBC News) – People living in Canada’s far north are increasingly frustrated over the high cost of food. Protests were held in Nunavut Saturday to highlight rising prices. Sheila Katsak in Pond Inlet, Nunavut, said she spends about $60 a day to feed her family of five. Katsak said that doesn’t allow […]
By PETER ALLEN 18 July 2012 Paul Schneidereit’s July 10 column “Humans’ love affair with fossil fuels won’t end anytime soon” slammed soothsayers who supposedly predicted doom because we would run out of oil. One such soothsayer was King Hubbert, a geophysicist who worked for Shell Oil and the U.S. Geological Survey. In 1956, he […]
