Welcome to the Asian century. As the Caltex refinery in Sydney will close in 2014, Caltex will get its fuel from Chevron with refineries in Singapore, Thailand and South Korea. There, Australian…
BP Statistical Review 2012 Part 2 Australia proved oil reserves overreported by a factor of 2
This is easy to check. From the Geoscience Australia website (GA – Oil and Gas Resources of Australia – OGRA) we add total reserves (proved and probable = 2P) for crude oil,…
Brisbane Airport Link: another tollway miracle of growing debt and assumed traffic growth (part 1)
Summary Brisconnections’ Airport Link is based on a financing model with increasing debt until 2026 and repayment of debt only after 2035. In the context of the evolving debt crisis – which…
10 mouse clicks to calculate Australian crude oil depletion of 83 per cent
Do it yourself. This takes 2 minutes. Australian government web site. CLICK 1 Type in google the search word “Geoscience Australia” CLICK 2 Click on http://www.ga.gov.au/ CLICK 3 Click on “Publications” CLICK…
Ghost traffic on US tollway hits peak oil ignorant banks and investors
The Pocahontas tollway South of Richmond, Virginia, is the latest example how the combination of embellished traffic projections and a weak economy – caused by high oil prices – have resulted in…
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…
Global debt and oil prices
From the Economist’s website: global public debt has reached $US 45 trillion. http://www.economist.com/content/global_debt_clock We compare the stacked debt curves with the NYMEX oil price: The steep rise of both debt and oil…
NSW regional railway clock stopped at midnight but Hunter coal trains are rolling
Impressions from a train trip Sydney – Armidale in year #8 of peak oil and 8 years away from Hansen’s deadline on coal. 3 car Country Link train arriving at the Sydney…
IMF team warns of global economy entering uncharted territory with US$ 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…
Incremental crude oil production update January 2012
The following graph shows the changes in global crude oil production since January 2001. This start year is being used to make the graph comparable to previous graphs which were based on…