Europe

‘Peak Oil Scare Fades as Shale, Deepwater Wells Gush Crude’ was the title of one of the lead articles in Bloomberg’s newly launched ‘Sustainability’ section this week. The report echoes a growing number of press reports announcing the end of the “myth” of peak oil. So what gives?

That conventional oil has peaked and will be in decline over the next decades is no longer controversial – so in that sense peak oil has been and gone, and the economic consequences are evident.

Even if we buy certified organic or fair trade marked products it is still very hard to avoid long and large retail chains which contribute to the pressure to industrialise and exploit human and non-human alike somewhere along the line.

How can we combine local, fair or ethical, and organic together in a way that at least has half a chance of caring more for human and non-human alike?

When economists Lucas Papademos and Mario Monti were parachuted in as Prime Ministers of Greece and Italy respectively in November of last year, this heralded a new era in the power of the economics profession. With questions still being asked about the failings of economics and economists in the build-up to the financial crisis, this technocratic rebuke to democracy was further evidence that this crisis is entrenching existing elite power, rather than weakening it. Not that you would hear any of this being discussed in an economics classroom.

‘The Impact of Community Supported Agriculture’– has found that CSA schemes are providing multiple benefits to thousands of members, their communities, local economies and the environment. CSA offers an innovative approach to reconnecting people with their food, and helps to build strong partnerships between communities and farmers.

Korean artist Jihyun Ryou, a graduate of the Dutch Design Academy Eindhoven, translates traditional knowledge on food storage into contemporary design. She found the inspiration for her wall-mounted storage units while listening to the advice of her grandmother, a former apple grower, and other elderly. Her mission: storing food outside the refrigerator.

With the publication of a prominent article on "Nature" in January 2012, the concept of "Peak Oil" has made another step forward in the debate on resource depletion. This article has made me rethink of the past ten years of work that I did as a member of ASPO, the association for the study of peak oil. Were we right with our prediction of impending peak oil? In a sense, yes, but the crystal ball is always foggy and it cannot be otherwise. The ASPO predictions were basically right but, as all predictions, they were approximate.

A midweekly roundup of peak oil news, including:
-Developments this week

How does Transition change your life? Utterly, completely, forever. Because if you embrace what it does, in the way my fellow reporter Jo Homan wrote about so beautifully last week, it will turn your life upside down - like a love affair. It will satisfy you in a way no consumer dream can ever do. It will broaden your intellect, it will engage you with the physical world, the earth and your own body, it will break you out of a tyranny of isolation as Mark wrote on Monday, and all the self-pity and antagonism that goes with that state. It will make you empathic with your fellows, connect you with the spirit of the times. And most of all it will give you back yourself.

We can be cynical about the profit motives of the industrialists, but there was a genuine desire to avoid unemployment and the suffering it caused, and to stimulate demand by any means to make sure there were enough jobs to go around. The strategy worked within its own terms, but it has left us in the disastrous position where efficiency in terms of energy and resources has no place in the modern economy. Now that we recognise the limits to growth we need to unpick this Keynsian solution and rethink the role of aggregate demand as the solution to our economic woes.

Engaging in the reskilling/skillsharing aspect of transition has revolutionised my whole attitude towards life. As I say, I didn't really notice it at first. It's been cumulative and all-pervasive. Paying attention to my own skills and those of fellows-in-transition, which are dismissed or ignored in the mainstream discourse: the ability to hold a meeting where everyone's included; communicating the experience of downshifting; learning to cook and eat differently; making space so solutions can emerge in the face of energy and financial constraints, using a chainsaw, making a rocket stove at the Transition Camp!

There are two dogmas that neoclassical economists must never publicly doubt lest they be defrocked by their professional priesthood: first, that growth in GDP is always good and is the solution to most problems; second, that free international trade is mutually beneficial thanks to the growth-promoting principle of comparative advantage. These two cracked pillars “support” nearly all the policy advice given by mainstream economists to governments.

The history of revisions to oil and gas resources has heretofore been one of increases. For the first time, we are now seeing not just downward revisions in estimated natural gas resources, but drastic downward revisions.

In response to a growing realisation that neo-liberal capitalism is morally and literally bankrupt, Britain’s political leadership have provided three visions of ethical capitalism for us to aspire to. So, is there such a thing as ethical capitalism? And why is this question being asked now?

High oil prices ensured that profits at the major oil companies rose again in 2011 – Shell’s full year profits leapt 54% to $28.6 billion while Exxon’s increased 35% to $41.1 billion. With this kind of money at stake it is no surprise it is almost impossible to get a sensible debate about our energy future...

A midweekly roundup of peak oil news, including:
-Developments this week