Oil

Global oil exports in decline since 2006: What will importing nations do?

by

It is with trepidation that independent petroleum geologist Jeffrey Brown has watched global oil exports decline since 2006. With all the controversy in the past several years over whether worldwide oil production can rise to quench the world’s growing thirst for petroleum, almost no one thought to ask what was happening to the level of oil exports. And yet, each year a dwindling global pool of exports has been generating ever greater competition among importing nations and has become a largely unheralded force behind record high oil prices.

ODAC Newsletter Sept 21

by

Oil prices fell dramatically this week to $107/barrel for Brent, on worsening economic news from China and Europe, and assurances from Saudi Arabia that it is ready to pump more oil to keep prices down. The speed of the fall on Monday however is something of a mystery and has led to an investigation by the Commodity Futures Trading Commission and the FSA.

Arctic Death Spiral: New local shipping and drilling pollution may speed up polar warming and ice melting

by

We’ve known for a long time about basic polar amplification. Warming melts highly reflective white ice and snow, which is replaced by the dark blue sea or dark land, both of which absorb far more sunlight and hence far more solar energy. More recently another insidious feedback has become obvious — as the Arctic ice retreats, big oil companies can drill for more fossil fuels whose combustion will accelerate warming and ice retreat…Local pollution in the Arctic from shipping and oil and gas industries, which have expanded in the region due to a thawing of sea ice caused by global warming, could further accelerate that thaw, experts say.

Report from a meeting in China about the pipelines for oil export from Canada’s oil sands

by

One of the reasons that I am in China just now is that Uppsala University is discussing increased collaboration with the Chinese University of Petroleum in Beijing, CUPB. It is Professor Feng of the School of Business Administration at CUPB that leads research on Peak Oil at that university. He has just organised a workshop with the theme “The Impacts of Peak Oil”.

Keeping a strong focus on climate change

by

The victory last year to stop the Keystone XL pipeline was a temporary victory. I guess all environmental victories are temporary, but this one was even more temporary than most. Mitt Romney has made it absolutely clear that if he wins the election his first duty, on his first day in office, will be to approve the Keystone XL pipeline. Barack Obama hasn’t said one way or another what he will do, but the signs aren’t particularly great.

Tar sands, oil shale, and heavy oil: Why the conventional wisdom about unconventional oil is likely to be wrong

by

In the old days, that is before 2010, the oil industry used to regale the public with tales of plenty that revolved around what is commonly called "conventional oil." Then in its 2010 World Energy Outlook, the International Energy Agency announced that the peak in the rate of production of conventional oil had already arrived, probably in 2006. The agency projected that production of so-called "unconventional oil" would grow considerably over the coming decades and allow total oil production to rise. But, new unconventional oil production may not be able to make up for the decline in the rate of conventional oil production. And, rate is the key metric.