Published Jul 22 2009 by Energy Bulletin
Archived Jul 22 2009

Peak oil, prices & supplies - July 22

by Staff

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Over a Barrel: The Truth About Oil

Charlie Gibson, ABC News
With Americans facing another summer season of rollercoaster-type gas prices, ABC News' Charlie Gibson has traveled the country to uncover some of the little known secrets of the oil industry, including why prices fluctuate so much and what exactly is behind it. "Over a Barrel: The Truth About Oil," an ABC News special reported by Gibson, will air on FRIDAY, JULY 24 (10:00-11:00 p.m., ET) as a special edition of "20/20" on ABC...

...Despite talk of dwindling oil reserves, new technologies have vastly increased the amount of oil, providing a larger reserve today than a decade ago. Last summer's $147 a barrel price baffled many Americans, but Wall Street insiders tell Gibson that speculators caused the price to skyrocket.

Americans consume a quarter of the world's oil, yet make up only 3 percent of the global population. When confronted by these facts by Gibson, Energy Secretary Steven Chu admits "we're headed for a train wreck." Chu explains how a new generation of biofuels could help the U.S. decrease its dependence on foreign oil. In addition to interviews with dozens of experts and industry leaders, Gibson also sat down with General Wesley Clark, the former NATO commander who discussed the role that oil played in the Iraq war.
(20 July 2009)



91.86.90
(video)
Steven F. Crower, Steven F. Crower

91•86•90. What do these numbers mean? Why do they affect you? Why should you care? Steve Crower, an energy investment banker from Denver, CO, finds a creative way to present the underlying data of the world's petroleum supplies and why we should pay attention to it...

...Following are my conculsions.

1. Peak Oil production will occur by 2012.

2. Developing economies will gradually push prices up due to increasing demand.

3. Nationalism, supply disruptions, or a downward revision to the worlds proven reserves will cause oil prices to spike dramatically.

4. The cost of almost everything will increase as oil has permeated every fabric of our lives.

5. There will continue to be a tremendous transfer of wealth from resource poor nations to resource rich nations such as Russia, Venezuel Saudi Arabia, Iraq and Iran.

Although Peak Oil is not a difficult concept it is my objective to present the underlying data so people can be aware that this is a near term issue that will have profound consequences that will affect your life.
(8 May 2009)

Well-produced short introduction to Peak Oil video. KS.



‘Peak oil’ debate is no longer on hold

Business Day (South Africa)
PUT a group of oil experts under one roof for a while and their discussion is likely to drift to the subject of peak oil — a point in time when maximum oil production is reached, after which it goes into permanent decline.

The advent of peak oil has long been brushed aside by some because it seems like a far-fetched, if not a ridiculous, idea concocted by alarmists. This is despite deafening cries that it is a real and serious threat.

Even among those who agree that it will happen, views differ sharply on the date . Some, like author David Strahan, say it could be as soon as 2017.

Recent data show that the debate can no longer be dismissed as a figment of the imagination among peak oil “enthusiasts”...

(21 July 2009)