Latest oil news…

[Arraya]

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7500669/Oil-reserves-exaggerated-by-one-third.html
Oil reserves ‘exaggerated by one third’
The world’s oil reserves have been exaggerated by up to a third, according to Sir David King, the Government’s former chief scientist, who has warned of shortages and price spikes within years.

http://www.guardian.co.uk/business/2010/mar/21/peak-oil-summit
Energy minister will hold summit to calm rising fears over peak oil
Lord Hunt calls UK industrialists together to discuss government response to any early onset of decline in global oil production

http://www.theaustralian.com.au/business/opinion/institutional-investors-start-to-worry-about-challenges-facing-oil-companies/story-fn2pxvk0-1225843476658
Institutional investors start to worry about challenges facing oil companies

[Arraya]

http://www.theoildrum.com/node/6309#more
Tipping Point: Near-Term Systemic Implications of a Peak in Global Oil Production – Part 1 – Summary

Recently, a 55 page paper called Tipping Point: Near-Term Implications of a Peak in Global Oil Production (PDF warning) was published….

The credit crisis exemplifies society’s difficulties in the timely management of risks outside our experience or immediate concerns, even when such risks are well signposted. We have passed or are close to passing the peak of global oil production. Our civilisation is structurally unstable to an energy withdrawal. There is a high probability that our integrated and globalised civilisation is on the cusp of a fast and near-term collapse.

As individuals, and as a social species we put up huge psychological defences to protect the status quo. We’ve heard this doom prophesied for decades, all is still well! What about technology? Rising energy prices will bring more oil! We need a Green New Deal! We still have time! We’re busy with a financial crisis! This is depressing! If this were important, everybody would be talking about it!

Yet the evidence for such a scenario is as close to cast iron as any upon which policy is built: Oil production must peak; there is a growing probability that it has or will soon peak; energy flows and a functioning economy are by necessity highly correlated; our basic local needs have become dependent upon a hyper-complex, integrated, tightly-coupled global fabric of exchange; our primary infrastructure is dependent upon the operation of this fabric and global economies of scale; credit is the integral part of the fabric of our monetary, economic and trade systems; a credit market must collapse in a contracting economy, and so on.

[Arraya]

http://www.theoildrum.com/node/6309#more
Tipping Point: Near-Term Systemic Implications of a Peak in Global Oil Production – Part 1 – Summary

Recently, a 55 page paper called Tipping Point: Near-Term Implications of a Peak in Global Oil Production (PDF warning) was published….

The credit crisis exemplifies society’s difficulties in the timely management of risks outside our experience or immediate concerns, even when such risks are well signposted. We have passed or are close to passing the peak of global oil production. Our civilisation is structurally unstable to an energy withdrawal. There is a high probability that our integrated and globalised civilisation is on the cusp of a fast and near-term collapse.

As individuals, and as a social species we put up huge psychological defences to protect the status quo. We’ve heard this doom prophesied for decades, all is still well! What about technology? Rising energy prices will bring more oil! We need a Green New Deal! We still have time! We’re busy with a financial crisis! This is depressing! If this were important, everybody would be talking about it!

Yet the evidence for such a scenario is as close to cast iron as any upon which policy is built: Oil production must peak; there is a growing probability that it has or will soon peak; energy flows and a functioning economy are by necessity highly correlated; our basic local needs have become dependent upon a hyper-complex, integrated, tightly-coupled global fabric of exchange; our primary infrastructure is dependent upon the operation of this fabric and global economies of scale; credit is the integral part of the fabric of our monetary, economic and trade systems; a credit market must collapse in a contracting economy, and so on.

[Arraya]

http://www.theoildrum.com/node/6309#more
Tipping Point: Near-Term Systemic Implications of a Peak in Global Oil Production – Part 1 – Summary

Recently, a 55 page paper called Tipping Point: Near-Term Implications of a Peak in Global Oil Production (PDF warning) was published….

The credit crisis exemplifies society’s difficulties in the timely management of risks outside our experience or immediate concerns, even when such risks are well signposted. We have passed or are close to passing the peak of global oil production. Our civilisation is structurally unstable to an energy withdrawal. There is a high probability that our integrated and globalised civilisation is on the cusp of a fast and near-term collapse.

As individuals, and as a social species we put up huge psychological defences to protect the status quo. We’ve heard this doom prophesied for decades, all is still well! What about technology? Rising energy prices will bring more oil! We need a Green New Deal! We still have time! We’re busy with a financial crisis! This is depressing! If this were important, everybody would be talking about it!

Yet the evidence for such a scenario is as close to cast iron as any upon which policy is built: Oil production must peak; there is a growing probability that it has or will soon peak; energy flows and a functioning economy are by necessity highly correlated; our basic local needs have become dependent upon a hyper-complex, integrated, tightly-coupled global fabric of exchange; our primary infrastructure is dependent upon the operation of this fabric and global economies of scale; credit is the integral part of the fabric of our monetary, economic and trade systems; a credit market must collapse in a contracting economy, and so on.

[Arraya]

http://www.theoildrum.com/node/6309#more
Tipping Point: Near-Term Systemic Implications of a Peak in Global Oil Production – Part 1 – Summary

Recently, a 55 page paper called Tipping Point: Near-Term Implications of a Peak in Global Oil Production (PDF warning) was published….

The credit crisis exemplifies society’s difficulties in the timely management of risks outside our experience or immediate concerns, even when such risks are well signposted. We have passed or are close to passing the peak of global oil production. Our civilisation is structurally unstable to an energy withdrawal. There is a high probability that our integrated and globalised civilisation is on the cusp of a fast and near-term collapse.

As individuals, and as a social species we put up huge psychological defences to protect the status quo. We’ve heard this doom prophesied for decades, all is still well! What about technology? Rising energy prices will bring more oil! We need a Green New Deal! We still have time! We’re busy with a financial crisis! This is depressing! If this were important, everybody would be talking about it!

Yet the evidence for such a scenario is as close to cast iron as any upon which policy is built: Oil production must peak; there is a growing probability that it has or will soon peak; energy flows and a functioning economy are by necessity highly correlated; our basic local needs have become dependent upon a hyper-complex, integrated, tightly-coupled global fabric of exchange; our primary infrastructure is dependent upon the operation of this fabric and global economies of scale; credit is the integral part of the fabric of our monetary, economic and trade systems; a credit market must collapse in a contracting economy, and so on.

[Arraya]

http://www.theoildrum.com/node/6309#more
Tipping Point: Near-Term Systemic Implications of a Peak in Global Oil Production – Part 1 – Summary

Recently, a 55 page paper called Tipping Point: Near-Term Implications of a Peak in Global Oil Production (PDF warning) was published….

The credit crisis exemplifies society’s difficulties in the timely management of risks outside our experience or immediate concerns, even when such risks are well signposted. We have passed or are close to passing the peak of global oil production. Our civilisation is structurally unstable to an energy withdrawal. There is a high probability that our integrated and globalised civilisation is on the cusp of a fast and near-term collapse.

As individuals, and as a social species we put up huge psychological defences to protect the status quo. We’ve heard this doom prophesied for decades, all is still well! What about technology? Rising energy prices will bring more oil! We need a Green New Deal! We still have time! We’re busy with a financial crisis! This is depressing! If this were important, everybody would be talking about it!

Yet the evidence for such a scenario is as close to cast iron as any upon which policy is built: Oil production must peak; there is a growing probability that it has or will soon peak; energy flows and a functioning economy are by necessity highly correlated; our basic local needs have become dependent upon a hyper-complex, integrated, tightly-coupled global fabric of exchange; our primary infrastructure is dependent upon the operation of this fabric and global economies of scale; credit is the integral part of the fabric of our monetary, economic and trade systems; a credit market must collapse in a contracting economy, and so on.

[paramount]

Excellent articles, and yet 4 years seems so far away to really start feeling any impacts.

[paramount]

Excellent articles, and yet 4 years seems so far away to really start feeling any impacts.

[paramount]

Excellent articles, and yet 4 years seems so far away to really start feeling any impacts.

[paramount]

Excellent articles, and yet 4 years seems so far away to really start feeling any impacts.

[paramount]

Excellent articles, and yet 4 years seems so far away to really start feeling any impacts.

[Author]

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