West of the Shetland Islands, the battle against oil decline is over for BP. SPGlobal reports: BP halts production at oldest West of Shetland oil facility Foinaven on asset decline 15 Apr…
Tag: peak oil
Saudi Arabia was supposed to pump almost 14 mb/d in 2018
Here we go again. Another US President asks Saudi Arabia to pump more oil, despite the so-called US shale oil revolution. Fig 1: Is a tweet enough to make Saudi Arabia open…
China’s oil peak 45 years after the US peak
Fig 1: Oil crisis in China like in 2005? No. By order: Free roads for G20 in Hangzhou https://www.theguardian.com/world/2016/aug/31/china-hangzhou-propaganda-facelift-g20-summit Strategically published only days before the G20 summit the Wall Street Journal had…
Despite growth in passenger numbers Virgin Australia can’t make money since 2009
Summary Virgin’s operating revenues have grown more than 4-fold over 10 years but since 2009 – the year peak oil triggered the global financial crisis – operating expenses were as high as…
New Australian Prime Minister is sceptical that peak oil has value for policy making
The Australian electorate has voted for a Prime Minister who 3 years ago said he was sceptical that the concept of peak oil has any value as tool for policy makers. That…
2/3 of Egypt’s oil is gone 20 years after its peak
No matter who is ruling Egypt and for how long, this country faces a crippling energy crunch which contributes to the general dissatisfaction of the public and the accelerating changes we see…
World car production grows 3 times faster than global oil supplies
As Ford Australia announced the closure of its factory in 2016, the Sydney Morning Herald ‘s headline was: 24/5/2013 Era of the Aussie car over http://www.smh.com.au/business/era-of-the-aussie-car-over-20130523-2k48f.html Right. There is an overproduction of…
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…
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…
South East Asian oil peak in the rear view mirror (part 1)
The title of this post refers to a term first used by the late Matt Simmons (2005 book “The coming Saudi oil shock and the world economy”) Grandiose statements about the “Asian…