OPEC

- Former OPEC researcher on peak oil
- Science: Technology Is Turning U.S. Oil Around But Not the World's
- Former deputy prime minister of Australia: 'Peak everything'
- Peak oil moves to the mainstream

A weekly roundup of peak oil news, including:
-Oil and the global economy
-The Iranian confrontation
-Problems for "Big oil"
-Nigeria
-Quote of the week
-Briefs

-Canadian crude oil production to increase 3300% by 2100
-Burning Oil to Keep Cool: The Hidden Energy Crisis in Saudi Arabia (report)
-A perilous and crucial quest - video interview with Daniel Yergin
-Brazil, short of biofuel, can't open spigot to US

The results of OPEC's latest meeting to set oil production quotas were announced this morning. Instead of production targets for individual countries, a group production ceiling of 30 million barrels a day was set. This amount is a bit less than OPEC produced in November 2011 (actual 30.367 mbd), according to its reckoning, and less than it would have produced most of 2011, if Libyan production had stayed on line, based on the amounts shown in its November Oil Market Report.

A weekly roundup of peak oil news, including:
-Oil and the global economy
-Europe
-Iran
-Iraq on its own
-IEA's December oil market report
-Quote of the week
-Briefs

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

OPEC head Abdullah El-Badri warned European leaders on Wednesday against imposing sanctions on Iranian oil, stating that the 865,000 barrels a day which goes mostly to Southern Europe would be difficult to replace. Global supply is already tight and oil prices remain stubbornly high despite the chronic Euro-crisis...

- Chris Nelder: Why energy journalism is so bad (good article!)
- The myth of renewable energy
- Renewable Power Trumps Fossils for First Time as UN Talks Stall
- Fukushima and the inevitability of accidents

Saudi Arabia announced this week that it is halting its $100bn oil expansion programme, claiming that the requirement for the kingdom to increase production has “substantially reduced” in the face of emerging new oil and gas supplies.

The latest World Energy Outlook from the International Energy Agency came with a double warning. On the one hand, oil prices could soon spike to $150 once more, on the other, the world is barely five years away from sealing its fate on climate change.

-Link to the Executive Summary
-World headed for irreversible climate change in five years, IEA warns
-Arab Spring disrupts energy investment-IEA
-Energy Costs to Rise ‘Viciously’ Without Nuclear, IEA Says

Both the IEA and OPEC cut their oil demand forecasts this week for 2011 and 2012 on the worsening economic outlook...

- Jeffrey Brown: Yergin cut his projected rate of increase in total liquids "Capacity" by 70%
- WaPo: What is ‘peak oil,’ anyway?
- Oil’s Most Accurate See No Reverse of Worst Run Since 2008: Energy Markets
- Al-Naimi Says World Oil Market Is Not Oversupplied as Demand Fluctuating
- CSM: Post oil: Glimpses of life after fossil fuel

A weekly review including:- Oil and the Global Economy
-Libya
-Gasoline prices
-Quote of the Week
-Briefs

Unless and until adaptive responses are large and fast enough to constrain the upward trend of oil prices, the primary adaptive response will be periodic economic crashes of a magnitude that depresses oil consumption and oil prices. These have the effect of shifting consumption from incumbent consumers—the advanced economies—to the new consumers in the developing economies.