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News from June 2012

Japan to burn drums of unprocessed radioactive waste from nuclear accident

Japan to burn drums of unprocessed radioactive waste from nuclear accident thumbnail

Nuclear fuel processing firm JCO Co. plans to build an incinerator for disposing of low-level radioactive waste stored at its plant in Tokaimura, Ibaraki Prefecture, where a fatal criticality accident occurred in 1999, company officials said Tuesday. JCO will submit necessary documents to the Education, Culture, Sports, Science and Technology Ministry with the aim of […]


US and Israel to hold largest ever joint military exercise

US and Israel to hold largest ever joint military exercise thumbnail

Israel and the US are set to hold their largest ever joint military exercise in October, featuring thousands of soldiers and advanced anti-missile defense systems, and simulating simultaneous fire from Iran and Syria. News of the drill comes amid ongoing violence in Syria, and with Israel and the US closely discussing the means to thwart […]


New study forecasts sharp increase in world oil production capacity, and risk of price collapse

New study forecasts sharp increase in world oil production capacity, and risk of price collapse thumbnail

Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity is likely to grow by nearly 20 percent by 2020, which could prompt a plunge or even a collapse in oil prices, according to a new study by a researcher at the […]


Myth Busting The Polyannas 1: Roger Harrabin

Myth Busting The Polyannas 1: Roger Harrabin thumbnail

From Dictionary.com: Pol·ly·an·na noun 1. an excessively or blindly optimistic person. adjective 2. (often lowercase) Also, Pol·ly·an·na·ish. unreasonably or illogically optimistic: some pollyanna notions about world peace. This is the first in a series of posts that address the phenomenon seen over the past few years of the proliferation of articles arguing that peak oil […]


China’s Lu’an Group Manages to Produce Coal-based Synthetic Oil

China’s Lu’an Group Manages to Produce Coal-based Synthetic Oil thumbnail

China’s Lu’an Group said Tuesday that construction work has started on its pioneer 5 million tonne/year coal-based synthetic oil production facility in Changzhi City, northern Shanxi Province. The facility, named as Shanxi Lu’an Coal-based Synthetic Oil Demonstration Factory, have reached a production capacity of 2 million tonne/year of synthetic oil, the company said. Lu’an Group’s […]


Can we avoid the perfect storm?

Can we avoid the perfect storm? thumbnail

It is quite possible that by the year 2100 human life will have become extinct or will be confined to a few residential areas that have escaped the devastating effects of nuclear holocaust or global warming. —Brian Barry1 Evolution equipped us to deal with threats from dependably loathsome enemies and fearsome creatures, but not with […]


Forget peak oil, we may have reached ‘peak GDP’

Forget peak oil, we may have reached ‘peak GDP’ thumbnail

We will find out in this century whether we are living in the era of peak everything: peak food, peak water, peak biodiversity, peak energy, peak population and even peak gross domestic product – argues campaigner Economic growth and population growth, these are undoubtedly the questions of our time. These questions are highlighted by most […]


Should we Still be Concerned with Peak Oil?

Should we Still be Concerned with Peak Oil? thumbnail

With oil prices falling precipitously, this seems like a good time to reassess the widely anticipated phenomenon known as peak oil. How much of a threat is it as we look into the future? There are basically two camps about the peak of global oil production. •    Cornucopians — Not only is the glass half-full, […]


America’s new energy reality – A bidding war for declining global net oil exports

America’s new energy reality – A bidding war for declining global net oil exports thumbnail

Americans are reading, almost on a daily basis, about increasing oil and gas production in the US. For example, Daniel Yergin wrote about his optimistic outlook for increasing US oil and gas production in an OpEd piece in the June 10, 1012 New York Times entitled “Americas New Energy Reality.” It’s certainly true that US […]


Biofuels and Hunger, Two Sides of the Same Coin

Biofuels and Hunger, Two Sides of the Same Coin thumbnail

Despite growing evidence that biofuel production is causing food insecurity around the world, the new European Union policy blueprint on renewable energy ignores the social effects of biofuels. Last week, Guatemalan victims of the food crisis came to Brussels to make European policy makers aware of the problem. In a bid to reduce the of […]


The Economic History of the Last 2000 Years

The Economic History of the Last 2000 Years thumbnail

The graph above is an economic history of the world, after 1 AD, from a research letter written by Michael Cembalest, chairman of market and investment strategy at JP Morgan. I posted it yesterday with this summary: “Everything to the left of 1800 is an approximation of population distribution around the world and everything to […]


Everything You Missed At The Big Peak Oil Conference In Vienna

Everything You Missed At The Big Peak Oil Conference In Vienna thumbnail

ASPO is a no-budget loose association of people interested in studying Peak Oil. It was formed in 2002 (10th anniversary this year) by Colin Campbell and Kjell Aleklett, both petroleum geologists. The term Peak Oil (which often creates confusion – I don’t know how many times I had to say “no, not Pig Oil – […]


Kunstler: Rocky Mountain High

Kunstler: Rocky Mountain High thumbnail

     The techno-narcissism flowed like a melted Slurpee this torrid weekend at the annual Aspen Environment Forum where scores of scientists, media figures, authors, professors, and policy wonks convened to settle the world’s hash – at least in theory. The trouble started Friday night when Stewart Brand, 74, impresario of The Whole Earth Catalog, […]


How Much Oil is There in the World?

How Much Oil is There in the World? thumbnail

This video explores the current state of the worlds oil resources and the likely scenario of depletion. It also goes into the alternative theories of oil creation and the distortion of the oil data.


Oil Exporting Alternatives in the Persian Gulf

Oil Exporting Alternatives in the Persian Gulf thumbnail

Stratfor Vice President of Strategic Intelligence Reva Bhalla examines investor interest in developing oil exporting alternatives to bypass the Strait of Hormuz. For more analysis, visit: http://www.stratfor.com


Population Control or Population Justice?

Population Control or Population Justice? thumbnail

Shrinking the world’s population is one way to curb global warming, according to some environmentalists. To make that happen, women need to be in control of their own fertility. But those perspectives are very controversial. On this edition: how environmentalism can lead down a slippery slope to population control, and even anti-immigrant policies. Can an […]


Notes From “Oil Supply And Demand Symposium

Notes From “Oil Supply And Demand Symposium thumbnail

Where the wallstreet suits look at Peak Oil without using the phrase (click here for conference web site). They are looking mainly at the next five years, but also out to the end of the decade. QUICK SUMMARY: A quite valuable set of empirical data and expert opinion which mostly seems to be sincerely intended […]


Due to International Pressure (Or Typhoon Damage?), Tepco Agrees to Start Removing Radioactive Fuel from Fukushima a Year Early

Due to International Pressure (Or Typhoon Damage?), Tepco Agrees to Start Removing Radioactive Fuel from Fukushima a Year Early thumbnail

Tepco was going to wait until late 2013 to even begin to start addressing the greatest threat to humanity. There is some good news. Specifically – due to international pressure – Tepco has agreed to speed up the timetable.  As Reuters notes: Workers at the crippled Fukushima nuclear plant will begin removing fuel rods from […]


Saudi Arabia and production from Safaniya

Saudi Arabia and production from Safaniya thumbnail

In recent posts I have been looking at the potential for the historically high producing Saudi oilfields at Abqaiq, Berri and Ghawar to increase, or even sustain current levels of production into the future. This is particularly important when one considers the historic main oilfields in production within that country. And of these the largest […]


http://www.peakprosperity.com/blog/when-will-reality-intrude-and-stock-market-hit-bottom-part-1/76292

http://www.peakprosperity.com/blog/when-will-reality-intrude-and-stock-market-hit-bottom-part-1/76292 thumbnail

[Today I’ve posted a few stories about the increasing liquid fuels supply so here is one about the other side of the equation, the poor economy and lowered demand –Pops]   If we pursue the line of inquiry established by Chris Martenson’s recent call to Buckle Up — Market Breakdown in Progress, we come to these […]


Dow Index Plummets 251 Points, Oil Prices Drop 4%, and Nothing Has Changed

Dow Index Plummets 251 Points, Oil Prices Drop 4%, and Nothing Has Changed thumbnail

Rick Mathews The world’s equity markets continued their wild ride today. From Asia to Europe to the United States, equity values in all sectors plunged downward propelled by the inertia of uncertainty. For the third week in a row world equity market charged up and down with historic volatility. The only clear winners were governments, particularly […]


For oil executives, the fracking revolution raises spectre of a gas flashback

For oil executives, the fracking revolution raises spectre of a gas flashback thumbnail

I don’t know any oil executives who use Twitter, but if they did, their “trending” hashtag might be #gasflashback. Behind this virtual podium, their tweets would focus on what is now the most anxiously-asked question in the oil patch: “Can the fracking revolution do to oil prices what it has done so ruthlessly to North […]


Why oil prices are lowest they’ve been in months

Why oil prices are lowest they’ve been in months thumbnail

 By Patti Domm, cnbc.com The free-fall in crude prices is unlikely to reverse course without significant signs that the world economy is improving. Oil, like stocks and other risk assets, fell sharply Thursday as fears of slowing global growth gripped markets, which were also beset by speculation about pending bank downgrades and Europe’s sovereign crisis. But the […]


UN chief unveils clean energy pledges, investments

UN chief unveils clean energy pledges, investments thumbnail

Addis Ababa, June 22 (WIC) – U.N. Secretary General Ban Ki-moon said on Thursday over 50 governments have began new energy strategies, while private investors have pledged over 50 billion US dollars to help carry out his goal to double the share of global renewable energy and the rate of energy efficiency improvement by 2030. The […]


As Rock Phosphate Runs Out, What is More Important – Food Crops or Fuel Crops?

As Rock Phosphate Runs Out, What is More Important – Food Crops or Fuel Crops? thumbnail

By Professor Chris Rhodes | Thu, 21 June 2012 21:41 | 3 World rock phosphate production is set to peak by 2030. Since the material provides fertilizer for agriculture, the consequences are likely to be severe, and worsened by the increased production of biofuels, including those from algae. Introduction. The depletion of world rock phosphate reserves will restrict […]


Solar Fuels Cannot Avert an Imminent Petroluem Fuels Crisis.

Solar Fuels Cannot Avert an Imminent Petroluem Fuels Crisis. thumbnail

 [This is the conclusion of a long article published in the journal Science Progress, the entire article is available at Energy Balance]   Since the article (immediately previous posting) to which this refers is rather long, I am extracting its concluding section here, rather than leaving the reader to wade through all of it. It will also be […]


Latin America: The Enron Of Oil?

Latin America: The Enron Of Oil? thumbnail

As any energy watcher will tell you, one of permanent dates in the diary is the release of BP Statistical Review, providing a detailed overview of how the numbers do or don’t stack up. The 2012 edition was unveiled in Londonthis week, and the findings were as interesting as they were depressing. The good news was we managed to ‘keep the […]


Record High Bids Seen in First Central Gulf Sale Since Deepwater Horizon

Record High Bids Seen in First Central Gulf Sale Since Deepwater Horizon thumbnail

Gulf lease sale nets $1.7B in winning bids The federal government’s first auction of offshore petroleum leases in the same area where the Deepwater Horizon exploded in 2010 brought in $1.7 billion in winning bids Wednesday. By CAIN BURDEAU Associated Press NEW ORLEANS —The federal government’s first auction of offshore petroleum leases in the same area […]


Fracking doesn’t cause quakes, except when it does

Fracking doesn’t cause quakes, except when it does thumbnail

(CNN) — The use of hydraulic fracturing to open underground natural gas formations has a low risk of triggering earthquakes, experts reported Friday, but some scientists say the debate is far from over. “Fracking,” as the process is commonly known, involves injecting a mixture of water and chemicals deep into the Earth. The pressure causes shale […]


Statoil Sees Global Oil Demand Peak at 103 Million B/D Around 2030

Statoil Sees Global Oil Demand Peak at 103 Million B/D Around 2030 thumbnail

By Kjetil Malkenes Hovland OSLO–Norwegian oil giant Statoil ASA (STO) said Thursday it expects global oil demand to peak at 103 million barrels a day around 2030, adding it expects increasing complexity to push production costs higher for marginal barrels. In a report, the company estimated the current cost of marginal oil barrels to be […]


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