Filed under: Uncategorized | Tags: Asia, Chris Nelder, Foucher, global oil consumption, Norway, OECD, oil demand, petroleum consumption, petroleum demand, world oil consumption
Sam Foucher chart via Chris Nelder’s latest:
Filed under: Uncategorized | Tags: Asian oil demand, Chindia, Chris Nelder, demand destruction, efficiency, energy, fat gets trimmed, fuel efficiency, global oil consumption, OECD, peak oil, transportation
Chris Nelder explains a critical dilemma facing American consumers. As total available oil exports decrease (at a rate that would bring them to absolute zero in about four years), inefficient westerners will be outbid by the new Asian “middle class” for these diminishing supplies.
Of course, exports can fall to zero in theory only, not in practice. In reality, high prices will kill the most inefficient, unsubsidized demand first—in the U.S. and Europe. Next, demand will be curbed in net exporting countries, first via the removal of domestic fuel subsidies, and then by world prices. The demand of the four billion people in Asia will be the last to go because they use it most efficiently.
Translation: The fat gets trimmed. The fat is here.
Filed under: Uncategorized | Tags: Athabasca, carbon emissions, metric tons of carbon, oil sands, peatlands, tar sands
They also say that the peatlands under consideration are currently holding on to 11-47 million metric tons of carbon that will be released into the atmosphere as part of the mining process. And then, because the mining companies plan to return the land to dry forest instead of the original peatlands, the area will lose the ability to sequester carbon in the future; this they say will add up to about 5,700-7,200 mt of carbon each year, which they say should be looked at as a net gain of carbon emissions each year.
Filed under: Uncategorized | Tags: Iraq, Iraqi civil war, Iraqi oil production, Lukoil, Norway, oil production, Russia, Statoil, West Qurna, West Qurna-2
As Norwegian Statoil bugs out.
Lukoil aims to invest around $2 billion in the West Qurna-2 oil field in Iraq this year, Bloomberg News reports. A company spokesman told Bloomberg that $200 million was invested there in 2011.
The oil company, the largest private energy company in Russia, also announced plans to start construction on a new oil pipeline and spell out details for its drilling program.