Among OECD countries Australia is #1 in increasing its net oil imports over the last decade, for some a proud, for others a sad achievement. Federal Resource Minister Martin Ferguson told me…
Category: Australia
Australian Senate ignores 80pc depletion level of crude oil
Australian Senators continue to ignore oil depletion facts Extract from the Hansard, 14/9/2011 Senator MARK BISHOP (Western Australia) (17:20): ……….With our vast resources and rapidly expanding oil and gas sector we…
NSW budget 2011_12 does not increase oil use productivity
The NSW government went into a deficit of $718 m for the budget year 2011/12 while at the same time wasting billions on highway duplication projects conceived 10 years ago, without checking…
WA crude oil depleted by 75 %
According to statistics published by the WA government in April 2011, WA’s crude oil resources including contingencies are depleted by around 75% at end 2010 up from 63% at end 2006. The…
“Yes, Prime Minister” peak oil 2006 under your watch
Only weeks after the IEA conceded that crude oil peaked in 2006 we have another indicator for the peaking: The IEA was forced to release oil from the Strategic Reserve because…
Sydney now beyond point of no return
Only days after the ABC TV broadcasted an interview with IEA chief economist Fatih Birol who warned that peak oil happened in 2006 and that the world should have prepared for peak…
Australia’s crude oil imports on record high
Australia imported a record 519 Kb/d of crude oil in the 12 months from March 2010 to February 2011, 50 Kbd/d or 11% higher than in the last boom period of 2007/2008….
Sydney’s RTA builds M2 exit lanes for $200 oil
This is a M2 construction work update for calendar week 5/2011. Contractors have started to build exit lanes for $200 oil just as 3 parties are now fighting for oil in Libya:…
Sydney increases its oil vulnerability as strategic shifts in ME threaten global oil supplies
It is unbelievable. Transurban started work on the M2 widening in Sydney by blocking access lanes for a bus ramp to a major railway station in the suburb of Epping. And the…
Brisbane’s Clem7 Road Tunnel in Receivership
The Clem 7 road tunnel (North South Bypass Tunnel) in Brisbane, conceived and planned in an era of $20 oil, has been placed in receivership. After the Cross City tunnel and the…