Shale oil

The Chief Executive Officer of insurance giants Lloyds is warning that the world is facing a “period of deep uncertainty” over the decline of fossil fuels – and may soon be coping with $200-a-barrel oil.

This article concisely summarizes most of what has been discussed in Energy Bulletin over the past few months regarding Peak Oil. Reading all this news, I realized we are now actually facing The End of The World (As We Know It). I struggled for awhile with how to write about this. Despair is not the answer.

I'm sure many of you are aware that there's been an enormous amount of hype accompanying the coming Shale Gas Revolution.

A weekly roundup of peak oil news, including:
-Prices and production
-From the IEA
-China
-CERA week
-Quote of the week
-Briefs

A weekly roundup of peak oil news, including:
-Prices and production
-China's Growth
-India
-Quote of the Week
-Briefs

One way of looking at our current set of predicaments is that we've been on a binge, consuming energy considerably faster than it can be captured and stored by Earth's ecosystems. While fossil fuels once appeared limitless (and still do to deniers of peak oil), and though we're literally bathed in energy (in the form of sunlight), the disappearance of the fossil-fuel storehouse accumulated over millions of years isn't something that can be replaced with anything nearly as convenient as fossil fuels.

A weekdly roundup of peak oil news, including:
-Prices and production
-Record Asian demand
-The Alberta oil sands
-Quote of the week
-Briefs

-Ed Miliband: China tried to hijack Copenhagen climate deal
-Carbon Supplicants on the Copenhagen Pilgrimage
-Review of the Year 2009: Climate change
-How do I know China wrecked the Copenhagen deal? I was in the room
-There's No Negotiating With Nature
-BC Fossil of the Decade Awards
-Copenhagen's failure belongs to Obama
-Clear-Cutting the Truth About Trees
-Doom and Gloom
-Mammals May Be Nearly Half Way Toward Mass Extinction

"as mankind proceeded to get bigger and bigger we silently crossed a threshold"

We cannot be lulled into a false sense of security: though oil prices have declined from their historic highs, there is little doubt that peak oil is real. A 2008 research project completed at Washington University in St. Louis found strong evidence in support of the theory. Please feel free to circulate this academic document as a primer on peak oil.

George Will had quite a few figures in his commentary “There is still no alternative to oil” that suggested there are no supply problems concerning oil. I think there are a few more figures that should be added to assess the oil supply situation.

-The heart of India is under attack
-Shale gas blasts open world energy market
-Shale gas numbers may not add up
-It’s a dirty business — the new gold rush that is blackening Canada’s name

The price of oil has more than doubled from its nadir of $30 a barrel earlier this year. To explain the resilience of oil prices in the face of a severe economic slump, the oil optimists have turned to an old standby argument: resource nationalism.

So far in this series of technical talks, I have tried to explain some of the pieces that have to be put together to get crude oil or natural gas out of the ground. I intend to go on with the series in the coming weeks, but thought that today I would put some of the different thoughts that I have talked about recently together. So I am going to talk a little about reserve calculations and production and will use an example to show how the numbers are derived. And again, let me stress that this is a very simplified example. It is also only somewhat fictionalized, as I shall comment at the end.

Evolution demands short-term thinking focused on individual survival. Most attempts to overcome our evolutionarily hardwired absorption with self are selected against. The Overman is dead, killed by a high-fat diet and unwillingness to exercise. Reflexively, we follow him into the grave.