Posts filed under ‘Peak_Oil’

Keystone pipeline’s impact on global warming should be reviewed: EPA

The U.S. Environmental Protection Agency has urged the State Department to “revisit” how much the Keystone XL oil pipeline would contribute to global warming, saying oilsands crude produces 17 per cent more emissions than “average” crude oil.

In a supplemental environmental impact statement released Tuesday, the EPA suggests that the falling price of oil, now at about $52 US a barrel, should change the assessment of Keystone’s environmental impact.

“The EPA has just reconfirmed what has been clear all along: the Keystone XL [oilsands] pipeline fails the president’s climate test,” said Michael Brune, executive director of the Sierra Club.

From CBC News article posted here.

 

February 4, 2015 at 10:58 am Leave a comment

The Real Cause Of Low Oil Prices: Interview With Arthur Berman

From an interview with James Stafford of Oilprice.com, with energy expert Arthur Berman:

“The current situation with oil price is really very simple. Demand is down because of a high price for too long. Supply is up because of U.S. shale oil and the return of Libya’s production. Decreased demand and increased supply equals low price.”

“U.S. refineries can’t handle the light oil and condensate from the shale plays so it has to be blended with heavier imported crudes and exported as refined products. Domestic producers could make more money faster if they could just export the light oil without going to all of the trouble to blend and refine it.”

“This, by the way, is the heart of the Keystone XL pipeline debate. We’re not planning to use the oil domestically but will blend that heavy oil with condensate from shale plays, refine it and export petroleum products. Keystone is about feedstock.”

“Would exporting unrefined light oil and condensate be good for the country? There may be some net economic benefit but it doesn’t seem smart for us to run through our domestic supply as fast as possible just so that some oil companies can make more money.”

“Many people think that the resurgence of U.S. oil production shows that Peak Oil was wrong. Peak oil doesn’t mean that we are running out of oil. It simply means that once conventional oil production begins to decline, future supply will have to come from more difficult sources that will be more expensive or of lower quality or both. This means production from deep water, shale and heavy oil. It seems to me that Peak Oil predictions are right on track.”

Read this informative article HERE. 

January 7, 2015 at 11:16 am Leave a comment

The Tar Sands Bubble

Without KXL, tar sands are a bad investment. By fighting the pipeline, activists have disrupted the industry’s bottom line.

This year, both Shell and France’s Total SA halted tar sands projects, saying they weren’t economically viable. Last year, Suncor Energy of Canada and Total killed joint plans to build a massive bitumen upgrading plant in Alberta. “Market conditions have changed significantly,” the Suncor CEO said. The cancellation cost the companies more than $1.5 billion. And yes, the delays in building Keystone XL are playing a major role. When Statoil announced its postponed project, the company cited “limited pipeline access” as a factor.

“Tar sands extraction is a marginal business in the best of conditions,” says [Anthony Swift, a staff attorney at NRDC]. “As the financial risks stack up, companies are reconsidering throwing millions and millions of dollars at these projects.”

Read about the economics of The Tar Sands HERE.

 

October 8, 2014 at 10:13 am Leave a comment

The End of Fracking Is Closer Than You Think

Canadian geologist David Hughes has some sober news for the Kool-Aid-drinking boosters of the United States’ newfound eminence in fossil fuel production: it’s going to go bust sooner rather than later.

Working with the Post Carbon Institute, a sustainability think-tank, Hughes meticulously analyzed industry data from 65,000 US shale oil and natural gas wells that use the much-ballyhooed extraction method of hydraulic fracturing, colloquially known as fracking. The process involves drilling horizontally as well as vertically, and then pumping a toxic cocktail of pressurized water, sand, and chemicals deep underground in order to break apart the rock formations that hold deposits of oil and gas.

Hughes found that the production rates at these wells decline, on average, 85 percent over three years.

America’s political elites are embracing the promise of American energy independence — and that, Hughes believes, is pure folly.

Read the full article HERE.


Please join Transition Cornwall+ for our first event of the fall season:

HAPPY! the movie, 1 pm – 3:30 pm Sunday, September 21, at Cornwall Public Library.

Join the discussion after the film exchanging ideas and exploring a deeper understanding of how we can bring happiness into our lives and into our world. Happy! the movie


September 17, 2014 at 10:16 am 1 comment

Limits to Growth was right. New research shows we’re nearing collapse

The 1972 book Limits to Growth, which predicted our civilisation would probably collapse some time this century, has been criticised as doomsday fantasy since it was published. Back in 2002, self-styled environmental expert Bjorn Lomborg consigned it to the “dustbin of history”.

It doesn’t belong there. Research from the University of Melbourne has found the book’s forecasts are accurate, 40 years on. If we continue to track in line with the book’s scenario, expect the early stages of global collapse to start appearing soon.

Read the full article HERE.


Please join Transition Cornwall+ for our first event of the fall season:

HAPPY! the movie, 1 pm – 3:30 pm Sunday, September 21, at Cornwall Public Library.

Join the discussion after the film, exchanging ideas and exploring a deeper understanding of how we can bring happiness into our lives and into our world. Happy! the movie


September 10, 2014 at 10:08 am Leave a comment

5 Industries Worried About Peak Oil

The debate over the impact of peak oil has been raging for decades. Although few deny that the end of mass oil consumption is drawing nearer, educated estimates now range between 2020 and 2030.But more important than the timeframe of peak oil are its consequences. Some seek to spell the end of life as we know it, so reliant is the world upon black gold. Others, equally extreme in their views, embrace the news, looking forward to a time when humanity will magically clean up its act.

The truth is somewhere in the middle. Clean energy sources are making major advances as they become cheaper and easier to implement while almost all OEMs have launched lavish research programs into vehicles powered by other means. But the consequences of peak oil are not to be underestimated. Society would undergo a difficult time, given the sheer spread of oil on our culture. Doomsday predictions of civilization having to survive without electricity, or planes being grounded are one thing, but petroleum is a heavy component of many more industries than that.

Read more HERE.

August 13, 2014 at 10:01 am Leave a comment

Converging Energy Crises – And How our Current Situation Differs from the Past

Gail Tverberg, actuary and author of the blog Our Finite World, has been writing and speaking about peak oil and energy related issues since 2006. Posts from Our Finite World are now copied by a number of sites, including Zero Hedge, Financial Sense, The Energy Collective, Business Insider, OilPrice.com, Investing.com, The Bull, Resilience, and other sites. Here is just one of the many interesting articles posted on her blog.

At the Age of Limits Conference, I gave a talk called Converging Crises (PDF), talking about the crises facing us as we reach energy limits. In this post, I discuss some highlights from a fairly long talk.

Read the full article here.

July 9, 2014 at 11:23 am Leave a comment

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