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Enviroment

New study on Fukushima reactor shows most fuel was contained

The Asahi Shimbun Most of the nuclear fuel inside the No. 2 reactor at the Fukushima No. 1 nuclear power plant apparently did not melt through the pressure vessel as previously believed, research using muon tomography has revealed. The assessment was made based on a study that utilized muons, an elementary particle that travels from outer space, to capture the interiors of the crippled reactor building like an X-ray. Tokyo Electric Power Co., the ill-fated facility’s operator, made the announcement on July 28. According to the utility, the technique captured a black shadow estimated to account for 180 to 210 tons of substances in the lower part of the reactor’s containment vessel. There was about 160 tons of nuclear fuel inside the No. 2 reactor, which was operating when it suffered a meltdown in the accident that resulted from the 2011 Great East Japan ...

The Best Reason to Ride a Bike thumbnail

The Best Reason to Ride a Bike

Cars have taken over our cities: More than half of downtown Los Angeles is devoted to roads and parking lots. Bikes are an afterthought at best, and those brave, or perhaps foolhardy, souls who bike risk life and limb. So says Bikes vs Cars, a 2015 film by Swedish director Fredrik Gertten. At first glance, the film comes across as a straightforward piece of bike advocacy. It focuses on two passionate bike activists in two car-friendly cities—Aline Cavalcante in São Paulo, Brazil, and Dan Koeppel in Los Angeles—as they describe their battles against cars and ask us to imagine cities designed for people. What’s really at stake here is how we live. Like Koeppel, I’m an everyday bike commuter living in Los Angeles. Biking keeps me fit and healthy (I get sick less often than I did before I started biking), saves ...

ISIS Wants a Global Civil War thumbnail

ISIS Wants a Global Civil War

From the murder of a French priest to the slaughter of 80 Shia Muslims in Kabul, ISIS has one goal: to get states and the far-right to single out Sunni Muslims and create a spate of religious civil wars across the world. LONDON — Did anyone at the Democratic National Convention notice the slaughter of 86-year-old Father Jacques Hamel, as jihadists slit his throat in his own church in Northern France during morning Mass? Well… here’s why they’d better start paying attention. For our own future’s sake, we must understand what jihadists are seeking to achieve through sowing the seeds of such chaos. What possible military strategy could there be in mowing 84 innocent people down to death using a lorry in Nice? How is “the cause” at all served by murdering 325 mainly Shia Muslims in Baghdad? Or by killing 80 ...

Production

Statoil CEO ‘very confident’ oil will reach $50-60

The CEO of Norway’s biggest oil company says he has few doubts that crude will again trade at around $50 to $60, marking a jump in prices that could be more than 30% compared with today’s level. “Eventually, I’m very confident that it will,” CEO Eldar Saetre said in a television interview with Bloomberg’s Manus Cranny and Anna Edwards on Wednesday. “But there is a lot of uncertainty. We still have a situation with a lot of volatility.” Following a June 2014 peak, oil prices collapsed 77% through January, when prices hit a low point of $27/bbl. Brent crude has since recovered some of that drop as supply disruptions from Nigeria to Canada trimmed a worldwide surplus. But those developments failed to maintain a rally above $50, and oil has since dropped to about $45. “The market will find a balance in the ...

Consumption

State Of The Oil Market

Summary US production decline is accelerating and not as resilient as initially purported. The global oil market is now undersupplied. Based on current US rig count, the global oil market will be significantly more undersupplied by 3Q17 than it was oversupplied in 2Q15 (2.2 MMbopd) when OPEC flooded the market. Production from "tight" source rock is a game changer Over the 35-year period from 1937 to 1972, US oil production increased 6 MMbo/d, primarily from conventional sources, and then declined 5 MMbo/d over the next 38 years, resulting in the USA's unhealthy dependence on imported oil, the rise and fall of a well-functioning cartel, $100+ oil, fear of Peak Oil, and T. Boone Pickens' famous prediction/warning a decade ago of the "possibility for the greatest wealth transfer in the history of mankind". The commercial development of "tight" oil shale, starting with the Bakken, changed everything ...

Consumption

So Much For Peak Oil Demand

No matter how often it happens, I never cease to be amazed when someone casually cites weak or falling demand for oil as a reason to avoid the oil and gas sector. Just last week I engaged with someone who wrote “the face of flat to lower demand…has a profound long term spoiler effect for fossil fuels” and that “it will be the emergence of a totally new technology that will crush fossil fuels.” Let’s address the second argument first. I closely follow new technology developments that might impact oil and natural gas demand. So, should a totally new technology appear that does reduce demand for fossil fuels, you will hear about it here long before it becomes mainstream news. In that case we would definitely make some major changes to The Energy Strategist portfolios. I can tell you that someone is always claiming a breakthrough that will ...

Production

Low Oil Prices Kill Off 7 Billion Barrels Of Oil Production

Capital expenditure cuts of $150 billion for 2016 and 2017 by U.S. exploration and production companies are expected to result in average production losses of 4.2 million barrels per day in the Lower 48 through 2020, according to Wood Mackenzie. This is not only a trend in the U.S., with upstream companies around the world trimming capex by more than $370 billion for 2016 and 2017. Wood Mackenzie believes that this will impact oil production and the world will result in 7 billion fewer barrels of oil through 2020. “The plays that saw the highest proportion of their capital expenditure cut were Eagle Ford and the Bakken,” said Jeanie Oudin, Wood Mackenzie Senior Research Manager, Lower 48. “That’s because the two plays were in full-scale development, with most operators' acreage held by production at the time oil prices began to fall, allowing ...

Public Policy

Drop in the ocean: India’s strategic oil reserves unlikely to stir market

India's initial plan to build-up its strategic petroleum reserves (SPR) is not shaping out to be the dramatic event that some in the market had hoped could help reignite global oil demand. While New Delhi has not shown its full hand in revealing its intentions, the first reports that SPRs might provide 90 days of net import coverage had stoked industry hopes of an important new pillar of oil demand. Indications now, however, are for much far less than this: shipping brokers say it's possible the entire initial SPR build-up in the world's third-biggest oil consumer could be handled by just a handful of Very Large Crude Carrier (VLCC) tankers. Indeed, India's initial SPR plan pales in comparison to a programme that is ten-fold bigger in China and is a further sign that Asia's demand outlook may not be as strong as expected. "I ...

General Ideas

Abandoning a fossil fuel powered civilization means abandoning civilization?

  In the 1950s, the Italian anthropologist Fosco Maraini (1912-2004) had a chance to witness the tremendous cultural shock that the Japanese society experienced the defeat of the 2nd world war. He described his experience in the book "Meeting with Japan", published in 1960. We may expect to go through something similar worldwide as we experience the cultural shock of having to abandon fossil fuels. I am writing this post just after having gone through one of the usual exchanges in the comments of a blog. You know how it goes: it is based on the idea that "renewables will never be able to replace fossil fuels." The reasons are always the same: renewables are intermittent, renewables cannot provide liquid fuels, renewables cannot fly wide-body planes, renewables cannot do this, renewables cannot do that. And if we try to move to renewables, ...

Consumption

Faulty Data? Why The Oil Glut Could Be Much Smaller Than Believed

The oil price rally came to a quick end in June, topping $50 per barrel but quickly falling back again. Optimism stemming from the four-month rally has vanished, and since June prices have retreated back to $45 per barrel. The main reason for the renewed sense of pessimism comes down to the glut of oil sitting in storage. The U.S. has been dealing with oil stocks at 80-year highs since early 2015, a metric that has become closely watched in the market for signs on whether or not supply and demand are moving closer to balance. After hitting an all-time high earlier this year, crude oil stocks began to decline in May, and although they are still above 500 million barrels, the industry has steadily drawn inventories down from their peak. (Click to enlarge) A more recent worry for the oil ...

Consumption Oil Heads Back To $30, And Probably Lower
Summary Financial players are now bailing out of their bullish positions in oil markets. The US ...
Geology India, U.S. Discover Major Natural Gas Reserve in Indian Ocean
  Find may significantly expand regional energy production Gas locked in hydrate formations may ...
Our Renewable Future book launch thumbnail Our Renewable Future book launch
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Several of the country’s leading energy analysts and environmental organizations have formulated plans for ...
Electric Cars: Massive Hype, Limited Value thumbnail Electric Cars: Massive Hype, Limited Value
Highlights Electric cars are generating an enormous amount of hype which attracts a lot of direct ...

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@tconspiracyguys finally finished #peakoil - fuck Kaiser, my ma died there & did u guys see the saved by the bell with the oil?

#peakoil New study on Fukushima reactor shows most fuel was contained: The Asahi Shimbun Most of the nuclear ... bit.ly/2aDatAF

#peakoil How Hillary looks to change rural America - Farm Futures: Farm FuturesHow Hillary looks to change ru... tinyurl.com/j7tru9q