Helping America Navigate a New Energy Reality

Archive for December, 2009

Dr John L. Perkins, Senior Economist, National Institute of Economic and Industry Research (Melbourne, Australia)

By on 28 Dec 2009 in quotes with 2 Comments

“Until recently, China was a net exporter of coal. Now it is an importer. Chinese coal production will peak in five to ten years, if not sooner. Australia is by far the biggest exporter of coal in the world, yet total Australian exports of coal represent only five percent of Chinese consumption. It simply will […]

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Review December 28, 2009

By on 28 Dec 2009 in Peak Oil Review with 1 Comment

Download Full PDF 1. Prices and Production Crude prices rose steadily last week closing above $78 a barrel, the highest close in three weeks. Rising equity markets, expectations that the US economy will improve soon, another drop in US stockpiles, and a weaker dollar all contributed to the increase. Analysts remain split on the prospects […]

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Jim Jubak, Editor and Founder, JubakPicks.com

By on 21 Dec 2009 in quotes with 0 Comments

“To me it looks like the economics of many of these [Iraqi oil] deals don’t work at all. They’re profitable, mind you, but they don’t offer a rate of return that justifies the investment. In other cases, the rate of return is high enough to justify the deal, but only if initial estimates of costs and […]

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Commentary: Oil, Economics, and Politics–a tangled web of consequences

By on 21 Dec 2009 in commentary with 4 Comments

It will come as little surprise to most readers that the world is near to, or past, peak world oil production. Petroleum is so essential to the economics of transportation that many believe when oil peaks, the global economy must also shrink in terms of the total output of goods, even as the population increases. […]

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Review December 21, 2009

By on 21 Dec 2009 in Peak Oil Review with 2 Comments

Download Full PDF 1. Prices and Production Oil prices stopped falling last week and climbed from circa $70 a barrel on Monday to close above $73 on Friday. The price jump came despite a stronger US dollar which kept downward pressure on prices. Colder weather and increased distillate demand in the US, coupled with trouble […]

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2009 — A Year We Will Live To Regret

By on 17 Dec 2009 in Other with 1 Comment
2009 — A Year We Will Live To Regret

Bankers and regulators have not come anywhere close to responding with necessary vigor to the worst economic crisis in 70 years. There is a lot of evidence that financial weaknesses brought us to the brink of a great depression… The proposed changes are like a dimple —Paul Volcker, from his anti-Tim Geithner, anti-Larry Summers Bankers […]

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Joe Stanislaw, CEO of JA Stanislaw Group LLC

By on 14 Dec 2009 in quotes with 0 Comments

“The current schism between the old and new energy industries—wherein the green evangelists mock the traditional fuels and the oil and gas crowd reciprocate—should end. This transformation also could be led by policymakers who admit there is no silver bullet in our common effort to build a low-carbon future.”

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Canadian Oil Sands Misses Unrealistic Projection – Issues Another

By on 14 Dec 2009 in commentary with 1 Comment

Canadian energy authorities have done it again. They missed their last rosy projection of future oil sands production, so they issued a new one: they merely pushed the big surge in production 5 years into the future. On November 3 Canadian Energy Research Institute (CERI) released a study that shows Alberta oil sands production soaring […]

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Review December 14, 2009

By on 14 Dec 2009 in Peak Oil Review with 0 Comments

DOWNLOAD FULL PDF 1. Prices and Production After eight straight days of decline, oil settled on Friday at $69.87, the lowest close since early October. The 11 percent drop since December 1st was attributed to a strengthening dollar and rising US fuel inventories. Global oil production increased by 200,000 b/d last month with the increase […]

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Not In the Labor Force

By on 10 Dec 2009 in Other with 3 Comments
Not In the Labor Force

There are lies, damn lies – and statistics. —attributed to Benjamin Disraeli, made popular by Mark Twain Humankind can not bear too much reality —T.S. Eliot Some of us think America is in Big Trouble. The often sarcastic way I cast doubt on government unemployment statistics today may strike you as negative in the extreme, […]

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Christophe de Margerie, CEO of Total SA

By on 7 Dec 2009 in quotes with 1 Comment

“I have never said that we are running out of oil. I do not believe that. But we are running out of production capacities. It is not a question of reserves as “peak oil” theorists would have us believe but rather a question of available production capacities. So why is it we are reaching a […]

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Review December 7, 2009

By on 7 Dec 2009 in Peak Oil Review with 0 Comments

DOWNLOAD FULL PDF 1. Prices and Production After starting the week quietly, oil prices fell to a seven-week low on Friday to close at $75.47 following the US November jobs report which showed a drop in unemployment. As usual, some analysts are skeptical, saying the drop is a statistical aberration that is not backed up […]

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Paul Krugman's Free Lunch Theory

By on 3 Dec 2009 in Other with 2 Comments
Paul Krugman's Free Lunch Theory

There is no cause to worry. The high tide of prosperity will continue —Andrew W. Mellon, Secretary of the Treasury – September, 1929 The worst is over without a doubt —James J. Davis, Secretary of Labor – June, 1930 The depression has ended —Dr. Julius Klein, Assistant Secretary of Commerce – June, 1931 A serious […]

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