Forbes: Why America's Shale Oil Boom Could End Sooner Than You Think
/More from Helman's piece, "Why America's Shale Oil Boom Could End Sooner Than You Think"
Hello, I’m Ray. Join me for thoughts on Energy, fitness, politics, and Washington DC life
Beware of irrational oil boom exuberance. qz.com/93154 @qz
— Steve LeVine (@stevelevine) June 11, 2013
The Chicken Littles and Malthusians were wrong about peak oil: report shows the world is swimming in shale. ow.ly/lVTbz
— Walter Russell Mead (@wrmead) June 11, 2013
A quote from the intro of a new interview with Kjell Aleklett on ScienceOmega.com. Note Aleklett's display of the PROPER definition of Peak Oil: "As we were the ones who invented the term, I think it’s only fair that we should be the ones who get to define what it means. Peak oil is the point at which maximum production of oil is reached."
It's something we continue to hammer every single day because so many people do not know (or don't want to know) the proper definition of the Peak Oil term.
To his other point, I had to recall a Twitter conversation from a couple months ago with Dr. Sami Al-Nuaim, as he tried to explain Peak Oil to us. Hopefully you can appreciate the comedy of someone trying to explain Peak Oil to the Association for the Study of Peak Oil. Professionalism doesn't often allow us to reply to comments the way I really want, but the thought has crossed my mind to respond to people with: "We COINED the term. WE tell YOU what it means, not the other way around."
Finally, you'll note Aleklett's mention of the IMF. That's in reference to the IMF's report on Peak Oil that Brad Plumer profiled in the Washington Post. Lead author of that report, Michael Kumhof can be viewed speaking on the subject last year in an IIEA video. Kumhof also spoke at our ASPO-USA conference last fall, Aleklett attended the conference as well. And we look forward to future work from the collaboration of Aleklett's team and the IMF.
Peak #oil be damned: crude output exceeds imports for first time in 16 years bloom.bg/15BEUcR via @bloombergnews
— Alex Fitzsimmons (@AlexFitzsimmons) June 6, 2013
Readers of this blog should already know that recent shale oil production increases don't change the Peak Oil story, even if it does get past the 1970 peak (which remains very much in doubt). And that declining crude imports has as much to do with poor economic conditions causing demand declines as it does with increased production.
But even if we pretend that production eclipsing the 1970 peak would somehow "destroy Peak Oil", shouldn't analysts at least wait until that mark is crossed before celebrating? There just seems to be a lot of spiking the ball at the 5 yard line over in oil-optimism land. Prudhoe Bay wasn't that long ago (the second post-1970 peak where a temporary increase soon returned to declines).
A quote from Matt Badiali in an interview titled "Why Bill Powers is Dead Wrong." Needless to say, when someone suggests to you that decline rates don't matter because we can just drill more and more wells... warning lights should be going off in your head.
For the other side, Bill Powers is the author of the new book "Cold, Hungry, and in the Dark: Exploding the Natural Gas Supply Myth." He presented at our 2012 ASPO-USA conference in Austin, TX. I embedded the video of his talk above.
More in Gail's article: Oil Limits and Climate Change
It's important to remember how
often people forget to mention the economy as a key factor is US Oil
Consumption. On the right, they point to decreasing oil imports and
pretend that it's all due to domestic production. On the left, they
point to decreasing domestic consumption and pretend it's all due to
increased efficiency and fuel standards, as Sen. Menendez did in his
recent guest post for Climate Progress.
In
both cases, they don't mention the largest factor contributing to both
trends: the sad state of the US economy that has persisted for years...
More in Gail's article: Low Oil Prices Lead to Economic Peak Oil
There's no need to dive too deeply into Dr. Sami Al-Nuaim's story in the Saudi Gazette, The falsehood of 'Peak Oil Theory' - you probably already know that Peak Oil isn't a theory, so that's strike one.
But this is a good example to mention something everyone should remember: A Peak Oil article that does not mention production rates and costs, is not an honest article about Peak Oil...
Read MoreThis evening I'm attending a Climate Desk Live event near Dupont Circle focused on the Keystone XL debate (a livestream is available at 6:30PM ET).
The event is hosted by Chris Mooney, author of Unscientific America and The Republican War on Science.
I'm the first to admit that Keystone is a difficult and complex topic, and I find myself agreeing with key points from both sides of the issue...The irony wasn't lost on me that while I'm sitting in the middle of a Social Media Conference, Brad Plumer and Chris Nelder would team up to drop a Peak Oil story at noon on a Saturday, forcing me to switch gears, put on my ASPO-USA hat, and leap onto social media to promote the story.
More about Chris Nelder's interview later, but for now I'll just say that you should read it immediately. It's the most significant Peak Oil story in the media so far in 2013 - something worth celebrating. But when this is the most significant story of 2013, and it really is just a simple interview, that's also a sad reminder of the rarity of proper coverage of Peak Oil in the media.
James Hamilton wrote a new post yesterday in response to Colin Sullivan's article and the recent "Peak Oil is dead" meme that's been floating around the media these past few weeks. It's important for a few reasons...
I made it into the comment section myself to share one of my favorite historical documents on Saudi oil production, the 2005 New York Times article "The Breaking Point"...
Read MoreCiti's new report "Global Oil Demand Growth - The End is Nigh" has been all over the financial world's echo chamber this week. And I think the Financial Times' Javier Blas has presented the fairest assessment of it. What's Citi actually saying? First, it's not debunking Peak Oil...
Read More“The advances in knowledge that are occurring in the oil and gas sector are allowing us to keep energy cheap and abundant. And that’s very good news. We won’t hit peak oil until we hit peak imagination.” - Robert Bryce
The funny part about this isn't that Bryce actually wrote this, it's that he wrote it in an article he titled "Peak Oil Cult Is Proved Spectacularly Wrong."
In early 2012, I wrote "The only thing more curious than the amount of times you see phrases like 'Oil is created in the minds of men,' is how often these phrases are taken seriously..."Read MoreThe Post is up with a story on a new IMF report asking for fossil fuels to be priced properly and not subsidized.
The first thing I thought about was this infographic and story from GOOD magazine a few years ago. So many claim to want government to step out of the way and let the "free market" work in energy matters. But those same people are usually the ones that would fight tooth & nail to keep current fossil fuel subsidies in place.
In Greek Mythology, Cassandra was bequeathed with the gift of prophecy, but cursed because the people would never listen to her warnings. And that's what it feels like sometimes to be on our side of energy matters. Robert Hren wrote of this in a new article this week titled: "The Reward for Being Right About Peak Oil: Scorn Heaped with Derision."
The photo above is from a presentation Dr. Robert Hirsch (of the "Hirsch Report" fame) gave to the GEM Energy Summit last November. The talk he presented was similar to the one he gave later that month at the 2012 ASPO-USA Conference, but right at the end, the conference organizers were nice enough to present Dr. Hirsch with a custom cartoon that showed three panels. On the top panel is someone reading Dr. Hirsch's book "The Impending World Energy Mess" (and sitting in front of a statue of Cassandra). In the bottom two panels, are two alternate futures: In one, the world is in a terrible state and people are saying "Man, we should have listed to Robert Hirsch a long time ago!" In the other panel of the future, the world is fine and people are saying, "Hirsch sure turned out to be wrong, the world is doing quite well."
The funny part about the second future is that Hirsch was probably right in that one too - that may have been a future where people DID listen to Hirsch's warnings, got in front of the problem, fixed it, and created a better tomorrow. Even then, no one would thank him, they'd probably just look back and assume he was wrong.
When I first moved to DC and worked as a consultant for DOE and EPA, I had a coworker whose father did a lot of work in the computer industry in the late 1990s - mostly working on the Y2K issue. It's endlessly frustrating to my friend's father that history remembers Y2K as "that thing people warned us about, but they were wrong about its consequences" - but he would argue that the worst predictions didn't happen precisely because investments were made and we got in front of those issues before they became big problems.
Peak Oil is like this. We know, at the end of the day, that this is kind of a "no win" situation for people who try to educate others about these issues. Sometimes people suggest that those that talk about Peak Oil somehow want the terrible future to come to pass. Obviously this isn't true. Believe me, we want that second future - the one where people look back and say "Wow, those Peak Oil guys sure were wrong" - either because cold fusion or other developments came along and indeed proved us wrong, or because people actually listened to us and society addressed these challenges ahead of time. There's no recognition, or status, or rewards for us in that future - but if the result is a better and more prosperous world with a healthy energy economy, that's reward enough.
Under no circumstances do we want the first future, where people in difficult times do remember us only to say "They were so right. We really should have listened to them when we had the chance..."
It's rare that ASPO-USA finds itself so directly involved in one of these "Peak Oil is nonsense" stories, but we did in this one. So let's take a look at Colin Sullivan's "Has 'peak oil' gone the way of the Flat Earth Society?" released last Friday...
Read MoreStuart Staniford with an updated chart that is as useful as it is basic. The chart: The history of US oil production.
All the recent media coverage on the US energy boom tends to conveniently omit the obvious fact that US oil production peaked in 1970...Powered by Squarespace