Peak oil, coal, and supplies - 6 July (updated 7 July)
by Staff
Click on the headline (link) for the full text. Many more articles are available through the Energy Bulletin homepage
Right now, dozens of scientists are out in the Gulf doing what they do best - working on our behalf, gathering information, trying to estimate and mitigate the environmental impact of the spill. So who is out there? What are they doing? And why should we be grateful they’re there?...
However, the King’s comments perhaps shouldn’t be taken too literally; oil ministry official told Dow Jones it was not an outright ban as such, “but rather meant future exploration activities should be carried out wisely”.
In two centuries, people will still want to drive cars, fly in airplanes and have lighting in their houses. “Everybody I know thinks there will be big price increases with the end of easy oil and there’ll be a struggle over the resources,” he said Monday. The young scientists in the audience “need to figure out how to keep that struggle from turning into a hot war.” Toward that end, Laughlin established some principles about hydrocarbons such as gas, oil and coal: everyone wants the cheapest gas possible; when oil runs out, prices will fluctuate but can be managed with technologies in development; and when coal ultimately runs out, further innovation will have to happen to keep society stable...
With global oil production expected to peak around the year 2015 and their own reserves in question, this early July announcement from Saudi Arabia is not surprising. Saudi King: Halt To Oil Exploration To Save Wealth
"Swing" Producer The most recent EIA figures show global crude oil consumption at 85.5 million barrels per day. The U.S. currently uses 22% of the global oil supply. The ever increasing oil demand by emerging economies is expected to climb 1.6 million barrels per day in 2011. Other Problems Saudi Arabia is an oil-rich, food-poor, water-poor kingdom with a rapidly growing population. Editorial NotesED contributor Michael Lardelli just sent in this video link with the comment: This is great listening for a peak oil audience! (Transcript available here) The spilling fields |
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