time is to check your Lithium
Don't you mean Invega?
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QUOTE O’ THE DAY
"All we can do is analyze, aggregate, and synthesize bad news.
time is to check your Lithium
The International Energy Agency (IEA), traditionally a very fossil-fuel-friendly international agency, reported today that renewable energy is becoming cost-competitive (and should receive subsidies to account for its environmental, energy security, and health benefits).
While I’m happy to see the IEA make this announcement (and there are tons of great points made in the report that I highlight below), I can’t help but point out a couple things….
If you look at the full costs of each energy source (that means adding in health costs, energy security costs, and environmental costs) solar, wind, and geothermal are already equal to or cheaper than fossil fuels. What’s the difference between a dollar you spend at the hospital and a dollar you spend on your electricity? Nothing much, except who’s receiving that dollar and what you are going through (i.e. what health predicament you have or don’t have). IEA gets this, but could have done a better job of spelling that out.
Additionally, not even taking those factors into account, if you look at the rising costs of coal and nuclear, the falling costs of solar, and the time it takes to put up a coal or nuclear power plant, solar is already cheaper by many insider estimates.
High oil prices threaten to worsen a global economic slowdown and crude producers should consider boosting output, the chief economist for the International Energy Agency said Wednesday.
"The current high oil prices have the potential to strangle the economic recovery in many countries," Fatih Birol said in a speech Wednesday in Singapore. "I hope that high oil prices don't slow down Chinese economic growth and the negative effect that would have on the global recovery."
Crude has jumped to $100 a barrel from $75 in October amid signs the U.S. economy will likely avoid a recession. Most economists expect global economic growth to slow next year as Europe's debt crisis threatens to drag the continent into recession.
Birol suggested crude producers should boost output amid growing demand in developing countries and falling inventories in wealthy nations.
The Organization of Petroleum Exporting Countries is meeting later Wednesday in Vienna to decide whether to change the cartel's output quotas.
meemoe_uk wrote:Another year, another fail for the 'peakoil is now' gang.
But, this doesn't mean anything to a peaker.
Don't wobble in your beliefs about panic and hype about an imminent oil shortage crisis.
Let JD explain
Now you can have all the fun of hype and scare you had last year ( and year before that, and the decades before that..etc) all over again.
PEAK OIL WAS IN 2010!!!!
And this isn't like all the other times we think peak has happened. This time we really know for sure. There is absolutely no way conventional supply can top 2010. And this is time, it's not like dozens of other years that there's been absolutely no way that supply can go up. Oh no, THIS...IS...IT!!!
Cloud9 wrote:When oil reaches $200 a barrel we will set another all time record. We are not running out of oil. Haven't you heard? We are now steam cleaning sand for oil.
Bull.meemoe_uk wrote:Cornucopian predictions have been shown to be correct again, continuing over a hundred years of correct predictions.
Yet this fear is not borne out by the fundamentals of supply. Our new, field-by-field analysis of production capacity, led by my colleagues Peter Jackson and Robert Esser, is quite at odds with the current view and leads to a strikingly different conclusion: There will be a large, unprecedented buildup of oil supply in the next few years. Between 2004 and 2010, capacity to produce oil (not actual production) could grow by 16 million barrels a day -- from 85 million barrels per day to 101 million barrels a day -- a 20 percent increase. Such growth over the next few years would relieve the current pressure on supply and demand.
You mean the US is producing its all time highest bpd of conventional oil? No, then Hubbard got that one well and truly in the bulls eye. And the UK, Russia, Norway, Mexico, Libya, Indonesia etc etc. All past peak.Peak oil is now predictions have been falsified again, continuing over a hundred years of failed predictions.
As you are every post.TheAntiDoomer wrote:I am soooo corny today.
1. trite or banal
ian807 wrote:1) Oil is limited.
2) When you pump it faster, you use it up sooner.
Having a problem putting this together, are we?
What the IEA numbers fail to show is the declining EROEI of the new "reserves" (such as they are.) When the energy required to hydrogenate the the gunk and grow the liquor is factored into the net energy available to drive around the mall parking lot, we have certainly ended up with a number quantitatively much closer to just around 60mbpd give or take some.
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