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John Dizard, the Financial Times
“I think it might not be a bad idea to examine the faith-based assumption that the US has a virtually unlimited supply of natural gas from shale formations that can be extracted at a low price for the indefinite future. Perhaps the few people who think shale gas will be produced at a higher cost, and more slowly, than generally believed should be heard out, rather than be executed or sentenced to
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Review March 8, 2010
Download Full PDF 1. Prices and Production Oil prices rose steadily last week closing on Friday at $81.50 after touching a high above $82. Prices have yet to regain the 2010 high of $83.95 reached on January 11th. The dollar’s reaction to the EU sovereign debt crisis, Beijing’s announcement that
Observations from Al - By Dr. Albert Bartlett
These are random occasional observations by Al Bartlett on items reported in the Peak Oil Review. Peak Oil Review, Vol. 5, No. 9, March 1, 2010 1) In the Ed Stein cartoon, one has an interesting contrast between the giant hyperbolic cooling tower and the small orange cylindrical building to the right of the tower. The small orange building houses the nuclear reactor. There is nothing nuclear about
Mike Dawson, president of the Canadian Society for Unconventional Gas
“Shale gas has a fairly short history of production. [Companies] are projecting stable production for 20 to 30 years, but we don’t have a history of that kind of long-term production to say that with any certainty.”
Review March 1, 2010
Download Full PDF 1. Prices and Production After two weeks of increasing prices which brought oil from $70 a barrel to the vicinity of $80, last week was rather quiet with oil gyrating between $78 and $80 in response to the latest reports. As has become normal recently, increased Chinese demand for oil was offset
Drawing the lower and upper boundaries of future oil supply By Rembrandt Koppelaar, ASPO Netherlands
The oil supply challenge is often summarized in terms of the production volume equivalent of Saudi-Arabia’s that needs to be replaced. This popular metric is based on in-depth studies of global decline rates that show a decline range between 4.5 and 6 percent over the current 73 million barrels of crude oil produced per day. By using such literature values for all types of production, it can
Prince Saud al-Faisal, Foreign Minister of Saudi Arabia
“Sanctions [against Iran] are a long-term solution. They may work, we can’t judge. But we see the issue in the shorter term maybe because we are closer to the threat… So we need an immediate resolution rather than a gradual resolution.”
Review February 22, 2010
Download Full PDF 1. Prices and Production Oil prices have moved up steadily for two weeks, rising by almost $10 a barrel, and now are back in the vicinity of $80. A potpourri of developments is behind the move, including a fluctuating dollar, a small increase in US discount rates and lower inflation, the
Patience Wheatcroft, The Wall Street Journal
“The work of the Industry Taskforce on Peak Oil and Energy Security shouldn’t be disparagingly dismissed. Its arguments are well founded and lead it to the conclusion that, while the global downturn may have delayed it by a couple of years, peak oil—the point at which global production reaches its maximum—is no more than five years away. Governments and corporations need to use the intervening
Review February 15, 2010
Download Full PDF 1. Prices and Production Oil prices rose modestly last week on conflicting news. The week began with a strengthening US dollar, colder weather in the US, and increasing tensions with Iran all contributing to higher prices. By week’s end, however, lower US demand, concerns about China’s
