I'm glad to see the surge of interest in the coming peak of world oil production, even though the prospect is grim. Once again, people are willing to think about non-renewable resources and the consequences of an economy based on them. ....Most of the new information stems from the work of two little-known scientists, both deceased: petroleum geologist M. King Hubbert and systems ecologist Howard Odum.
Shell Canada outlined $4 billion worth of expansions and de-bottlenecking at its Athabasca Oil Sands Project yesterday. The work will eventually bring the project to 500,000 barrels per day in production.
Predictions of imminent oil shortages have been made throughout the 20th century. Although all previous predictions have been false, in recent years a new generation of predictions based on the Hubbert model have become ascendant and attracted media attention.
Queensland Energy Resources, which runs the demonstration plant, says it will be placed into care and maintenance around September. The controversial project has been plagued by environmental issues.