Israel Dreams Of A Future As An Oil Producer : Parallels. Hide captionGivot Olam CEO Tovia Luskin expects to drill 40 wells and build a pipeline to a refinery on the coast. The company already has "proven and probable" reserves of 12.5 million barrels of oil. Luskin chose where to drill based on a passage from the Bible. Emily Harris/ NPR Givot Olam CEO Tovia Luskin expects to drill 40 wells and build a pipeline to a refinery on the coast. The company already has "proven and probable" reserves of 12.5 million barrels of oil. Luskin chose where to drill based on a passage from the Bible. There's an old joke that if Moses had turned right when he led Jewish tribes out of Egypt, Israel might be where Saudi Arabia is today — and be rich from oil.
"Israel has more oil than Saudi Arabia," he claims. But that oil will be difficult to reach, if it can be recovered at all. "Maybe, if technology will be proved viable, Israel can meet all of its needs from domestic production of oil," Mor says. Surrounded By History Emily Harris/NPR. Oil is sinking amid 'oceans of public debt' LOVE KNOWLEDGE, LIVE TO LEARN.. OIL. Oil production and consumption. Oil production fails to keep up with demand CRUDE-OIL prices shot up on June 8th—Brent crude to a one-month high of $118.59 per barrel—after OPEC representatives meeting in Vienna were unable to reach an agreement on production quotas.
Many had expected an increase in quotas as members with spare production capacity, led by Saudi Arabia, pushed to avoid a price spike that may dampen long-term demand. As figures released in BP's "Statistical Review of World Energy" show, global oil production has struggled to keep up with increased demand recently, particularly from Asia.
In China alone consumption has risen by over 4m barrels per day in the past decade, accounting for two-fifths of the global rise. Where is the Oil? GLM on the block - 2011-06-13 18:37:08 | Home Textiles Today. Home & Textiles Today Staff -- Home Textiles Today, June 13, 2011 London and White Plains, N.Y. - George Little Management is up for sale by its parent company The Daily Mail & General Trust. GLM is the company's U.S. tradeshow arm and produces 15 markets, including the New York International Gift Fair and National Stationery Show. Estimates of the businesses' valuation in the British press range from $200-$240 million. "The strategic review of GLM follows the conclusion that there is limited opportunity to leverage the GLM assets across the wider DMGT group," DMG said in a statement.
"And that we should focus our events activities onto fewer areas with exceptional opportunities. " GLM president Alan Steel told HTT sister publication Gifts & Decorative Accessories, "We cannot go beyond the DMG statement, but will confirm that we are in the second round of discussions with companies. Peak Oil: The Mother of All Risk Management Scena.
The Need to Consider the Possible Impact of Peak Oil During a recent discussion on the topic of peak oil, the dean of one of America’s most prestigious business schools [who asked to remain anonymous], said “…leaders should bring somebody in to their organizations right away to talk to them about this…if only to say they’ve had a thorough look at the subject and dismiss it. This is something that must appear on the radar screen and be addressed.” Then, after study and analysis they can either write it off as an acceptable risk or act accordingly to minimize its effects…or even act to monopolize on the opportunities that may arise as a result of it. Governmental Response There is evidence that at least some federal governments have identified (and have begun addressing) peak oil as a significant risk management scenario. The actions of China represent an exception and indicate that China is adopting an openly aggressive strategy by gobbling up resources at every turn. 1. 2. 3.
How to Turn Your Analytics into Actionable Tasks for Content Marketing. The Content Wrangler » Blog Archive » Monetizing Content: Leveraging Your Content Gold Mine. Shale oil powers ahead. Where's the next stop? Wikileaks: Saudi Arabia Running Out of Oil | eWallstreeter. Meet The Oil Shale Eighty Times Bigger Than The Bakken. Will the Bakken Be as Inspiring as the Barnett? The Barnett shale play has not only inspired one of the fastest growing energy industries ever created in North America, but is on the verge of propelling a multinational industry. By the end of this decade a small industry that started in an obscure basin in Texas-- and was dismissed by Government and Big Oil alike-- will likely be multicontinental in scope and strategically impressive in scale. Independents saw what Government is incapable of seeing and still cannot comprehend and Big Oil could afford to wait and see. The Barnett has inspired not only a dry gas industry but a sub industry based on the unsuspected liquids window in the gassy shales.
The production of gas liquids and oil from the liquids windows is spreading across several basins in North America, and most likely will lead to US liquids production being higher at the end of this decade than it is now-- again contrary to the confident pronouncements of Government and Big Oil. Kerogen Shale Is Not Oil Shale Follow Vinod Dar. Crude surprise - m.NYPOST.com. Merry Christmas, now pay up! Investors yesterday pushed crude oil prices to a two-year high near $91 a barrel, all but guaranteeing the metro area a record $3-a-gallon gas for the holidays. And this is supposed to be a low point in gas consumption.
The crude spike is bad news for retailers and the overall economy as $100 million a day is siphoned from consumers’ wallets — dollars that could have been used to spur non-fuel sales and create jobs — every time pump prices jump by 20 cents a gallon. “The main factor pushing prices higher is optimism over the economy,” said analyst Peter Beutel of Cameron Hanover, who last week predicted crude oil could hit $100 a barrel by early spring. Beutel wouldn’t rule out another economy-wrecking bubble like the one in 2008 when pumps in the region charged upwards of $4.50 a gallon for regular gas. Also pushing oil above $90 a barrel was a government report noting rising demand that sucked nearly twice as much from inventory as expected. Saudi Oil Production - read Minister Al-Naimi's small print. Yesterday the Saudi Arabian oil Minister, Ali Al-Naimi, commented that the days of easy oil are not over, and that there remain at least 88 billion barrels in the Saudi oilfield of Ghawar, let alone the rest of the fields in that country.
Well before that sends you out to buy a fleet of Hummers, you might want to take a wee bit closer look at some of the other things that he said, or did not say. For the future is not quite as rosy as his remarks might, at first, make you think. Let’s start with the “days of easy oil are not over.” That is a somewhat egregious remark. Last week at the ASPO-USA Conference Michael Klare commented on the amount of money that this will bring to the nations that produce oil much cheaper than the global price (which KSA is happy to keep at around $80 bbl) but to keep that price it relies on the make-up oil that is not “easy” at all.
Now let me turn to some of the more worrisome part of what he said. Why is this? Saudi struggles to maintain daily crude output quota | 30 March 2011 | www.commodityonline.com. World’s largest oil exporter Saudi Arabia has struggling to maintain its daily output quota target of 12.5 million barrels per day. 30 Mar 2011 RIYADH (Commodity Online) : World’s largest oil exporter Saudi Arabia has struggling to maintain its daily output quota target of 12.5 million barrels per day. According to officials from the Kingdom’s oil ministry, Saudi Arabia has decided to boost the number of oil rigs at its disposal by 28 per cent. However, analysts said extra rig activity would maintain rather than increase the kingdom's oil capacity. State-run oil giant Saudi Aramco met leading oil service companies including Halliburton over the weekend to discuss plans to boost the country's rig count this year and next to 118, from around 92 now.
Saudi Arabia has increased its output to around 9m bpd this month to help compensate for disruption of supply from fellow Opec producer Libya. But many in the oil industry question how quickly and sustainably Riyadh could deliver that volume. German Military Study Warns of Potential Energy Crisis. The report can be accessed from the popular German paper Der Spiegel in this story: Bundeswehr-Studie warnt vor dramatischer Ölkrise. The report is so far only available in German, and while Ich spreche ein wenig Deutsch (I speak a little German), I am not fluent enough to capture the essence of the report.
(Der Spiegel has summarized the report in English now: Military Study Warns of a Potentially Drastic Oil Crisis). However, I have a friend who is both fluent in German (his native tongue) and passionate about peak oil outreach. Given a week, I could probably translate the report. Center for German Army Transformation, Group for “Future Studies” July 2010 The focus of the document is on the topic of finite resources, using Peak Oil as an example. In the past, resources have always triggered conflicts, mostly of regional nature. The authors confirm multiple views on Peak Oil timing and concede that there will be Peak Oil eventually. 2.1 Oil as a driver of globalization.
US oil speculators fined for $100-a-barrel "vanity trade" The Oil Price Surge Indicator Says There's A 100% Chance Of A New Recession. Boursorama - Cours du baril de pétrole ( Brent, Or ) indices mat. Discussions about Energy and Our Future. Fractal Adaptive Cycles in Natural and Human Syst. The bewildering, entrancing, unpredictable nature of nature and people, the richness, diversity and changeability of life come from that evolutionary dance generated by cycles of growth, collapse, reorganization, renewal and re-establishment.
We call that the adaptive cycle.Holling, 2009 Figure 1: Sierpinski Triangle Fractal Holling, Panarchy and Resilience Arguably the most significant thinker in the field of ecological cycles has been Buzz Holling, who refers to the conceptual model he derived from the study of forest ecosystems as Panarchy. Figure 2: Adaptive Cycle in Three Dimensions In an adaptive cycle, early growth is rapid as individuals of many species arrive in a newly opened space and seek to exploit a plethora of vacant ecological niches. As time passes, rapid growth gives way to conservation.
Figure 3: Adaptive Cycle Stages During the growth phase the system finds an abundance of resources available. However, such adaptive cycles do not exist in isolation. References Postscript: Peak Oil News. Branson warns of oil crunch within five years | Business | guard. Oil shortages by 2020 due to Western 'profligacy', says energy b. "It's GCSE economics that if production is constrained and demand increases from emerging countries, the price will go up and up and up," Mr Marchant said.
He urged the Government to start dealing with the problem of limited oil supply by encouraging consumers to limit their energy usage. "We can have a debate about which year this problem will hit us, but I would rather have a debate about how we avoid it becoming a problem," he added. The electrification of the UK's transport system is likely to prove both a huge challenge and expansion opportunity for electricity companies and network operators in the UK. Mr Marchant believes that most consumers will probably be driving hybrid or electric cars by the middle of the next decade. "Driving two miles is a pretty low value use of oil," he said.
"One car in China adds far more value than a second car sitting in the driveway of some house in the UK. " WSJ Reports, "The Next Crisis: Prepare for Peak O. Posted by Gail the Actuary on February 11, 2010 - 10:08am Topic: Miscellaneous Tags: peak oil, wall street journal [list all tags] The Wall Street Journal today has an article about the work of Britain's Industry Taskforce on Peak Oil and Energy Security that goes well beyond summarizing what the task force said in its report.
The article starts out: The Next Crisis: Prepare for Peak Oil As Europe's leaders gather in Brussels today, they have only one crisis in mind: the debts that threaten the stability of the European Union. They are unlikely to be in any mood to listen to warnings about a different crisis that is looming and that could cause massive disruption.A shortage of oil could be a real problem for the world within a fairly short period of time. The article says that the concerns raised by the report of the task force are well-founded: But the work of the Industry Taskforce on Peak Oil and Energy Security shouldn't be disparagingly dismissed.
An Engineer’s View of Peak Oil — Part 1 | EnergyTrends. This a guest post by Ian Sutton, whom I had the pleasure of meeting at this year’s ASPO-USA conference. The author of this essay has worked in the process industries, both onshore and offshore, for forty years. He has extensive experience in design, operations and risk management and is the author of numerous technical books. He is a professional engineer, registered in the State of Texas. In early November I happened to be in the Washington DC area for various business meetings so I took the opportunity to attend this year’s ASPO-USA Conference (Friday and Saturday only). I first learned about the topic of Peak Oil from Matt Simmons’ book Twilight in the Desert and have since regularly read a variety of Internet sites on the same topic. As an engineer I was disappointed that there was not more discussion about the role of technology in the future world. By repute the philosopher Georg Hegel developed the concept of an “Hegelian Synthesis”.
Figure 1) Hegelian Synthesis. Peak Oil Believers Wonder Why Every Government Ignores Them, Con. Who’s to blame for high oil prices? | EnergyTrends. A week ago the Seattle Times carried the following story: Murray, Cantwell blame speculators for gas prices. This past Saturday the Times article titled Obama pumps plan to develop renewable energy reported that … the Justice Department will begin looking for cases of fraud or manipulation in the oil markets, even though Attorney General Eric Holder suggested a variety of legal reasons may be behind the surging gas prices.
Every politician is looking for a scapegoat on which to pin blame for high oil and gasoline prices. What better target than unknown speculators trading in the poorly understood futures markets. It’s worth taking a closer look at what’s happening in the oil futures market to better understand how it works. Figure 1) shows a graph with the recent prices of crude oil futures chained together as a series of black dots. Figure 1) Crude oil futures chain for April 28, 2011. Looking at the actual data, it’s hard to believe that traders are manipulating the oil markets. More thoughts on peak oil. In Saturday’s Wall Street Journal, Daniel Yergin, chairman of IHS Cambridge Energy Research Associates, gave his explanation of what’s wrong with peak oil. Here’s why I don’t find his analysis altogether convincing. Yergin does not offer a statement of exactly what he means by “peak oil”, though his essay refers to it as a “fear” and a “specter”. Let me therefore begin my remarks with a clarification of exactly what I intend to discuss.
I propose the following three propositions as the core claims that need to be evaluated: The annual flow rate of oil production from a given reservoir eventually reaches a maximum, after which it declines.The annual flow rate of total global oil production will eventually have to decrease as a necessary consequence of (1).This peak in global production will be reached relatively soon. Of these statements, I honestly don’t understand how a reasonable person could dispute (1). Yergin wrote: Let me begin by interjecting a few facts into this discussion. Peak Wood: Nature Does Impose Limits | Miller-McCune Online.
Schork Oil Outlook: Warning For Traders. Oil Could Sink to $40 on Stronger Supply: Economist. Floating inventories fall. The oil shock and recession of 2008: Part 1 - Mozil. The U.S. Dollar Experiences a Sudden Shift in Sentiment -- Seeki. The oil price problem | FT Energy Source | FT.com. Those volatile energy prices - and far less volatile consumption. Schlumberger warns services shortage could emerge | Energy | Chr. A Defense of Oil Speculation. Peak Oil News. China starts work on second phase oil reserves | 09 March 2010 | Looking for oil demand in all the wrong places - The Globe and M. Economists deliver a sturdy smackdown of peak oil demand | FT En. Faith-based economics in two graphs.