From the Energy Minister’s media release: Australia to boost fuel security and establish national oil reserve 22 April 2020 The Australian Government is boosting the nation’s long-term fuel security by taking advantage…
How the first phase of peak oil brought Virgin Australia into minus after 2008
Fig 1: The conventional crude oil plateau started in 2005 At the end of the high oil price period in June 2014, Virgin Australia had liabilities of $ 4.7 bn. Despite lower…
Impact of Corona Virus similar to some earlier peak oil scenarios
Empty roads, grounded aircraft, falling tourist and international student numbers, plunging car sales, empty super market shelves, disrupted supply chains… Fig 1: Empty roads in Wuhan in February 2020 China Car Sales…
Bush fires cause load shedding in New South Wales – January 2020
The pervasive climate change denial of various Australian governments and its consequences in the energy sector now take terrible revenge. This article is about an incident on Sat 4th 2020. A Saturday…
Australia’s oil consumption highly vulnerable to events in the Middle East
The world came very close to an escalating war in the Middle East. BBC asked: Iran missile attack: Did Tehran intentionally avoid US casualties? 8/1/2020 Fig 1: Damage to the US air…
Uncertainties following the Abqaiq attack have shrunk the world’s safe oil reserves by around half (part 2)
In part 1 we had a summary table comparing Rystad’s 1P (proven reserves), 2P (proven + probable reserves) and 2PC (2P reserves + mean contingent) for all countries outside the Middle East….
Uncertainties following the Abqaiq attack have shrunk the world’s safe oil reserves by around half (part 1)
The world has returned to business as usual after the Saudis assured oil markets that production will be back soon and as oil prices have returned to pre-attack levels and even lower,…
The Attacks on Abqaiq and Peak oil in Ghawar
Fig 1: The attackers hit at Fajr prayer time https://www.youtube.com/watch?v=sw_IwRPUZOQ When the late Houston based investment banker Matt Simmons wrote his 2005 book “Twilight in the desert, the coming Saudi oil shock…
Peak oil in Asia: where will the oil come from for the Asian Century?
Asian oil production peaked above 8 mb/d for the period between 2008 and 2016 (with spikes in 2010 and 2015). The 2015 peak was mainly caused by peak oil in China. Since…
2005-2018 Conventional crude production on a bumpy plateau – with a little help from Iraq
This post is an update of a graph done in 2015: Fig 1: Conventional oil production on bumpy plateau 2005-2014 In https://crudeoilpeak.info/latest-graphs When adding the new data for 2015-2018 it was discovered…