The derailment and explosion of a shale oil train in Canada highlights desperate attempts by refineries along the US/Canada East coast to offset the conventional oil peak of Atlantic basin producers who…
Category: Global
FSU crude oil exports declined by 5.5 % in last 2 years
Former Soviet Union (FSU) crude oil exports declined from 6.76 mb/d in 2010 to 6.39 mb/d in 2012 (-370 kb/d), or 5.5%, mainly due to a 13% decrease in Black Sea shipments….
Half of oil burnable in 2000-2050 to keep us within 2 degrees warming has been used up as we hit 400 ppm
This article shows CO2 emission profiles from oil, analyses how regional peak oil events shape emission curves and calculates that an annual 6% oil decline rate after 2012 would be needed to…
Shrinking crude oil exports A tough game for oil importers
Using JODI data, crude oil exports have peaked in 2005/2006 and since then have shrunk by a total of 5% despite export growth in several countries including Iraq and Canada (unconventional oil…
Minesweeping exercise near Saudi oil hub
Massive minesweeping exercise begins off Bahrain 21/9/2012 Reporting from the Persian Gulf and the Arabian Sea (CNN) — More than three dozen nations have converged on the seas around Bahrain for a…
ABC TV Interview with Richard Heinberg on peak oil and the end of growth
In this post I add some graphs into the interview transcript. http://www.abc.net.au/news/2012-09-17/peak-oil-and-the-threat-to-growth/4266638 On youtube: http://www.youtube.com/watch?v=eGphOQXCt2s Ticky Fullerton, ABC TV Lateline Business: “There have been few more passionate debates in resource economics than…
BP Statistical Review 2012 The incredible growth of oil(y) resources
Summary: Oil reserves as reported in the Statistical Review have experienced a phenomenal growth but are not all proven (1P) reserves as claimed. The reserve tables provided contain a mixture of resources…
BP Statistical Review 2012 Analysis Part 1 Discrepancies and Peak Exports
Graphs prepared using data from the BP Statistical Review 2012 http://www.bp.com/sectionbodycopy.do?categoryId=7500&contentId=7068481 (1) Discrepancies BP data show oil consumption being higher than oil production. The discrepancy has been growing from 1998 and was…
IMF team warns of global economy entering uncharted territory with US$ 180 a barrel in 2021
In April 2011 the IMF predicted oil prices – at that time US$ 80 – would increase by 60% within a year, i.e. US$ 128. Actual oil prices in April 2012 were…
Crude oil peak in Algeria
(1) Actual production We have 3 components of oil supplies from different sources: crude oil only (statistics from IEA) condensate (statistics from EIA) natural gas liquids (statistics from EIA) Note that oil…