#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.

China Just Got Handed The Oil Deal Of A Lifetime

By Simon Watkins 

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.

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CHINA BENEFITED FROM IRAQ WAR

#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:

Post Carbon Institute

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?

Asher Miller

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.

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The Most Important Speech Ever

#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 Moser, We 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. Susanne 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 Add us to your address book

#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.

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THE FUTURE OF SHALE