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#OVERPOPULATION LEADS TO UNSUSTAINABLE #ENERGY FUTURE

World Energy Consumption Since 1820 in Charts By   Gail Tverberg Figure 1 (above) shows the huge increase in world energy co...

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Sunday, 20 October 2019

No End In Sight For Rapid Decline In #OPEC #Production

"Hard to say whether Saudi Arabia is following Venezuela's huge production drop, as both had notoriously overstated their reserves. The Saudi's conventional fields are very long in the tooth.  Lets not forget MIT's - "Limits to Growth" - research book that predicted a major drop in resources around 2020, and so far their predictions have been fairly accurate, as evidenced by the graph below and the follow-up report 30 years later. It appears we are closing in on a new era - as cheap conventional oil runs dry. What's next is anybody's guess. "

Dr P G Kinesa
October 20, 2019

OPEC September 2019 Oil Production



Data for the OPEC charts below were taken from the October OPEC Monthly Oil Market Report
OPEC 14 crude oil production was down1,318,000 barrels per day in September. Most of that decline was due to the Iranian attack on the Saudi oil complex at Abqaiq. ( The question is whether this attack may have been staged to distract attention from the bigger production decline issue and overstated reserves?)
LIMITS TO GROWTH
Image result for limits to growth

KEY CONCLUSIONS
After reviewing their computer simulations, the research team came to the following conclusions:[1]:23–24
  1. Given business as usual, i.e., no changes to historical growth trends, the limits to growth on earth would become evident by 2072, leading to "sudden and uncontrollable decline in both population and industrial capacity". This includes the following:
    • Global Industrial output per capita reaches a peak around 2008, followed by a rapid decline
    • Global Food per capita reaches a peak around 2020, followed by a rapid decline
    • Global Services per capita reaches a peak around 2020, followed by a rapid decline
    • Global population reaches a peak in 2030, followed by a rapid decline
  2. Growth trends existing in 1972 could be altered so that sustainable ecological and economic stability could be achieved.
  3. The sooner the world's people start striving for the second outcome above, the better the chance of achieving it.

SYNOPSIS 30 YEAR UPDATE

The signs are everywhere around us:
  • Sea level has risen 10–20 cm since 1900. Most non-polar glaciers are retreating, and the extent and thickness of Arctic sea ice is decreasing in summer.
  • In 1998 more than 45 percent of the globe’s people had to live on incomes averaging $2 a day or less. Meanwhile, the richest one- fifth of the world’s population has 85 percent of the global GNP. And the gap between rich and poor is widening.
  • In 2002, the Food and Agriculture Organization of the UN estimated that 75 percent of the world’s oceanic fisheries were fished at or beyond capacity. The North Atlantic cod fishery, fished sustainably for hundreds of years, has collapsed, and the species may have been pushed to biological extinction.
  • The first global assessment of soil loss, based on studies of hundreds of experts, found that 38 percent, or nearly 1.4 billion acres, of currently used agricultural land has been degraded.
  • Fifty-four nations experienced declines in per capita GDP for more than a decade during the period 1990–2001.
These are symptoms of a world in overshoot, where we are drawing on the world’s resources faster than they can be restored, and we are releasing wastes and pollutants faster than the Earth can absorb them or render them harmless. They are leading us toward global environmental and economic collapse—but there may still be time to address these problems and soften their impact.

 FINAL WARNING LIMITS TO GROWTH

Monday, 23 September 2019

#China To Profit Big-Time From #Iraq #Oilfields


 “With the terms of the deal on the table, China would make between eight and nine billion dollars profit every year from Majnoon alone,” concluded the Iraq source.

Related image

China Just Got Handed The Oil Deal Of A Lifetime


China and Russia are sewing up whatever oil and gas fields and accompanying infrastructure that they can in Iran and Iraq, as Iraq tries to markedly up the pace of development on the fields it shares with Iran. Iraq only wants the U.S. for the Common Seawater Supply Project (CSSP) because ExxonMobil is the only firm that can do it properly and within a reasonable timeframe. ExxonMobil’s participation, though, is far from guaranteed.
Of all the key shared fields - Azadegan (Iran side)/Majnoon (Iraq side), Azar/Badra, Yadavaran/Sinbad, and Dehloran/Abu Ghurab, Naft Shahr/Khorramshahr – the first of these has been a priority for Iran since it was severely flooded in March. It is this field that was the focus of the announcement last week that two major new drilling contracts have been signed: one with China’s Hilong Oil Service & Engineering Company to drill 80 wells at a cost of US$54 million and the other with the Iraq Drilling Company to drill 43 wells at a cost of US$255 million.

According to senior oil and gas industry sources spoken to by OilPrice.com last week, it is China that will do all of the work and finance all of the drilling, with the headline ‘Iraq Drilling Company’ being on the contract simply to assuage the followers of Moqtada al-Sadr, the de facto leader of Iraq, and his Sairoon (‘Marching Towards Reform’) power bloc whose public message at the last election was that Iraq should not be beholden to any other country. OilPrice.com understands that al-Sadr privately has approved the project, otherwise, of course, it would not be going ahead.

Majnoon oil field
Image result for oil price .com logo

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CHINA BENEFITED FROM IRAQ WAR

Saturday, 21 September 2019

#Week4Future: Global #Climate #Strike Week - @postcarbon

At this unprecedented pivital juncture in human history The End Of Fossil Energy is pleased to annouce its support and endorsement of the beliefs, policies and actions of:


Our Strategy

Post Carbon Institute provides individuals and communities with the resources needed to understand and respond to the interrelated ecological, economic, energy, and equity crises of the 21st century. We help build resilience to withstand these crises, and support social and cultural change to make society more ready to take decisive and appropriate action. Specifically, we:
  • Grow collective understanding of our energy reality, and the need for both conservation and appropriate, community-centric renewable energy.
  • Promote community resilience as the best way to build thriving, relocalized neighborhoods, towns, and cities capable of withstanding coming disruptions.
  • Support a growing movement of innovators and early adopters who can develop best practices and provide leadership both now and during future crises.

"But even if hope has to be held lightly in the steely-eyed recognition of what we face, we still must take action. Much of that action comes back to our own backyards."


A sea change moment?


September 19, 2019

Tomorrow begins Global Climate Strike Week, led by young people to demand urgent action to address the climate emergency. What many hope will be a sea change moment in the struggle to mobilize a real response to this existential threat had a humble start a year ago when a young Swedish student, Greta Thunberg, began spending her Fridays protesting in front of the Swedish Parliament. Inspired by Greta’s example—and her blunt, uncompromising stance—millions of students have since joined her in the “Fridays for the Future” movement. This week is an opportunity for the rest of us to participate.
I will be out on the streets tomorrow and the following Friday in my hometown, and I’ll be joining a number of other activities planned locally over the coming week. PCI is supporting our staff to actively participate in the various communities where they live. We’d like to encourage you to do the same. Visit the Climate Strike website to find activities near you.

Image result for greta thunberg



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The Most Important Speech Ever



Wednesday, 18 September 2019

#CLIMATECRISIS:IMPORTANT #WEBINAR INVITATION FROM THE POST #CARBON INSTITUTE

Hello Everyone,

I work on issues surrounding the climate crisis nearly every day, but I still struggle to talk about the magnitude of the situation with my family and friends. Finding the right approach to these conversations—so we can keep talking even when we disagree or leave the conversation feeling empowered rather than disheartened—can be truly challenging.

Which is why I'm so excited about our live webinar with Karin Kirk and Susanne MoserWe Need to Talk: How to have difficult conversations about the climate crisis.
Karin Kirk has taught courses about climate change, overseen energy conservation projects, worked on national-scale climate education efforts, and measured the effectiveness of NOAA's Climate.gov website. While a scientist by training, Karin is particularly intrigued by the intersection of science and the human dimension.
Dr. Susanne MoserSusanne Moser is a geographer who works nationally and internationally as an independent scholar and consultant from a base in western Massachusetts. Her work with government agencies, non-profits, foundations, and other researchers and consultants focuses on adaptation to climate change, resilience, transformation, science-policy interactions, and effective climate change communication.
During the webinar we'll talk about:
  • Overcoming personal reluctance to have conversations about the climate crisis
  • Strategies for connecting with people who disagree with us
  • How to approach this difficult topic so that you inspire others to take action
I hope you'll join us. Our panelists have a wealth of experience and wisdom to offer so we really think you'll enjoy this great conversation whether you talk to people about the climate crisis for a living or out of personal passion.
WHAT: Live Webinar - We Need To Talk

DATE: Thursday, October 10, 2019

TIME: 11:00 AM PDT / 2:00 PM EDT / 6:00 PM GMT
GET YOUR TICKETS TODAY
We are so lucky to have such an engaged and inspiring community. Your participation in these events makes them richer and far more meaningful.

If you think your family and friends might also find this webinar interesting, please spread the word and share this email with them.

In gratitude,

Amy Buringrud
Marketing & Communications Director
Copyright © 2019 Post Carbon Institute, All rights reserved.

Our mailing address is:
Post Carbon Institute
800 SW Washington Avenue, Suite 5
Corvallis, Oregon 97333

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Monday, 16 September 2019

#US Shale #Oil Production To Peak In 2030


“However, it should be noted, that any changes in future market conditions would have an immediate impact on our shale production projections,” Passos concluded.


Rystad: US Shale Production To Peak At 14.5 Million Bpd


US shale supply will peak at approximately 14.5 million barrels per day (bpd) around 2030, according to Rystad Energy.
In the past decade, crude oil coming from shale patches such as the Permian in the US has grown from a negligible contributor to an upstream behemoth, reshaping the industry and the oil market.

US Light Tight Oil (LTO) represented less than 1% of global oil supply just nine years ago. Today, US LTO represents close to 10% of total global oil supply, a percentage which is expected to continue its ascent going forward. But by how much? That is the million-dollar question.
Different agencies and knowledge houses have responded to this with varying degrees of positivity and skepticism. Rystad Energy aims to shed some light on this uncertainty and provide its answer.
“Under our base-case price scenario*, US LTO supply should reach its peak at approximately 14.5 million barrels per day (bpd) around 2030,” says Sonia Mladá Passos, a product manager on Rystad Energy’s Shale Upstream Analytics team.


Permian shale

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THE FUTURE OF SHALE


Sunday, 28 July 2019

Tanker #Insurance Soars As #Iran Tensions Mount


" oil prices in the wake of the attacks highlights the importance of Strait of Hormuz as a global oil artery"

Tanker at sea

Middle East Tanker Insurance Rates Soar 10-Fold

 

Insurance rates for tankers going through the Strait of Hormuz have skyrocketed tenfold in the two months since the first attacks on tankers off the coast of the UAE, CNBC reports, quoting the chief executive of a shipping company. The news could reinforce anticipation of higher oil prices, not because of fundamental factors but because of insurance rates.

The first link in a chain of events that may send prices higher took place in late May, when Middle Eastern media reported attacks on four tankers off the coast of the port of Fujairah, in the Persian Gulf and close to the Strait of Hormuz. Then, about two weeks later, another attack was reported, this time in the Gulf of Oman, right out of the Strait of Hormuz. Finally, Iran shot down a U.S. drone claiming it was flying over its territory.


After the U.S. blamed both tanker attacks on Iran, the drone incident was seen by many as the last straw before open military confrontation. This has not yet materialized, but oil prices spiked after both attacks and the drone shoot-down and reports about insurers hiking their tanker premiums for Strait of Hormuz-passing vessels multiplied.


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CAN DIPLOMACY WORK?



 

Sunday, 21 July 2019

#Bloomberg: No End In Sight For #Shale-Oil Drilling Slump

"The frack market “is a mess,” Brad Handler, an analyst at Jefferies LLC, wrote in a note to clients. “With every passing datapoint/call, there is little to suggest this market gets any better, and so we hack away at numbers again.”

Image result for shale oil drilling rigs 2019

Shale Drilling's Worst Yet to Come 

(Bloomberg) -- America’s biggest owner of drilling rigs fell the most in seven months after the chief of Helmerich & Payne Inc. said he called the bottom too soon.

Three months ago, when Helmerich had 220 of its rigs hired out, Chief Executive Officer John Lindsay told investors the second quarter would be the nadir for his fleet. But after the number of Helmerich rigs at work shrank to 214 a few weeks ago, Lindsay says his earlier projection was “premature.”

“The full effect of the industry’s emphasis on disciplined capital spending continues to reverberate through the oil field services sector,” he said in a Wednesday statement. “We are reluctant to predict another bottom and see further softening during our fourth fiscal quarter as our guidance would indicate.”

The hired hands of the shale patch who drill and frack wells are suffering from a slowdown in North American spending brought on by investor demands for higher returns. The U.S. oil rig count has fallen 11% this year, according to Baker Hughes.

 Image result for shale oil drilling rigs 2019

Fracking giant Halliburton Co. is eliminating jobs and warehousing equipment no one wants to rent. Superior Energy Services Inc. said earlier this week that it’s looking for ways to cut costs and may sell assets to raise cash. On Thursday, 28 of the 29 oil and gas industry stocks in the S&P 500 Index were falling.


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OIL PRICES SIGNAL RECESSION?

 

Sunday, 14 July 2019

#Economic #Abstractions Can No Longer #Stimulate Physical Economy


"History shows that the collapse of economies is very common. Collectively, we have closed our eyes to this possibility ever happening to the world economy in the modern era. If the issue with collapsing demand causing ever-lower energy prices is as severe as my analysis indicates, perhaps we should be examining this scenario more closely."



Image result for fact vs fiction

Why stimulus can’t fix our energy problems



Many people appear to believe that stimulus programs by governments and central banks can substitute for growth in energy consumption. Others are convinced that efficiency gains can substitute for growing energy consumption. My analysis indicates that workarounds, in the aggregate, don’t keep energy prices high enough for energy producers. Oil prices are at risk, but so are coal and natural gas prices. We end up with a different energy problem than most have expected: energy prices that remain too low for producers. Such a problem can have severe consequences.

Let’s look at a few of the issues involved:

[1] Despite all of the progress being made in reducing birth rates around the globe, the world’s population continues to grow, year after year.



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EXPONENTIALS TELL THE FUTURE




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