Saudi Oil Production Declining Saudi oil production has been declining modestly for the last 2-3 months (depending on your preferred data source) while the oil rig count in country has continued to increase. See above graph (the black line is the average of five sources of production information on the left scale, while the red curve in the lower part of the graph is the Baker Hughes rig count on the right scale). For readers that don't follow every twist and turn of Saudi oil statistics let me sketch the back story since 2005. In about 2005 when global oil supply appeared to plateau, Saudi Arabia also had appeared to plateau at around 9.5mbd. At that time the rig count, having been stable for years, began to rise as Saudi Arabia launched a series of large megaprojects to expand production capacity (or replace oilfields that were in decline depending on your point of view). Indeed as the world lost Libyan production in January/February of this year, Saudia Arabia initially did nothing.
Exxon's Dangerous Outlook Image from ExxonMobil presented its latest Energy Outlook report recently, the 2013 Outlook for Energy: a view to 2040 (pdf). The report is chock full of figures and graphs showing an inexorable rise in global energy demand and supply and the growing market for Exxon’s products. Peak oil is real and will stunt any economic recovery During the last century, society squandered 500 million years of captured sunlight on drag races, traffic jams, private jets and overheated office buildings - warns campaign group Oil company cheerleaders proclaiming huge supplies of oil are dead wrong. Peak oil is as real as rain, and it is here now. Not 2050.
IPCC Fifth Assessment Report The decision to prepare a Fifth Assessment Report (AR5) was taken by the members of the IPCC at its 28th Session (09-10 April 2008, Budapest, Hungary). Following the election of the new IPCC Bureau at the 29th Session of the IPCC (31 August - 04 September 2008, Geneva, Switzerland) and discussions about future IPCC activities at the 30th Session of the IPCC (21-23 April 2009, Antalya, Turkey), a Scoping Meeting was held (13-17 July 2009, Venice, Italy) to develop the scope and outline of the AR5. The resulting outlines for the three Working Group contributions to the AR5 were approved by the 31st Session of the IPCC in Bali (26-29 October 2009).
Steady state economy A steady state economy is an economy of relatively stable size. It features stable population and stable consumption that remain at or below carrying capacity. The term typically refers to a national economy, but it can also be applied to the economic system of a city, a region, or the entire planet. Oil Extraction Causes Biggest Recorded Earthquake in Oklahoma The largest-ever recorded quake in Oklahoma was caused by the injection of wastewater, a byproduct of oil extraction, into the ground, new research confirms. On Nov. 6, 2011, a series of earthquakes, including a 5.6-magnitude temblor, struck the rural town of Prague, about 37 miles (60 kilometers) east of Oklahoma City, crumbling homes in the area and damaging a federal highway. The quake could be felt as far away as Milwaukee.
What if we never run out of oil? As the great research ship Chikyu left Shimizu in January to mine the explosive ice beneath the Philippine Sea, chances are good that not one of the scientists aboard realized they might be closing the door on Winston Churchill’s world. Their lack of knowledge is unsurprising; beyond the ranks of petroleum-industry historians, Churchill’s outsize role in the history of energy is insufficiently appreciated. Winston Leonard Spencer Churchill was appointed First Lord of the Admiralty in 1911. With characteristic vigor and verve, he set about modernizing the Royal Navy, jewel of the empire.
IEA's "Golden Age of Gas Scenario" Leads to More Than 6°F Warming and Out-of-Control Climate Change By Joe Romm on June 7, 2011 at 12:50 pm "IEA’s “Golden Age of Gas Scenario” Leads to More Than 6°F Warming and Out-of-Control Climate Change" The International Energy Agency has just issued a special report titled, “Are We Entering a Golden Age of Gas?” The answer to that question is “yes” only if you are a natural gas producer who doesn’t care much about humanity. For the rest of us, the report makes clear natural gas by itself does nothing to avert catastrophic climate change.
What's Really Warming the World? Climate deniers blame natural factors; NASA data proves otherwise Climate scientists tend not to report climate results in whole temperatures. Instead, they talk about how the annual temperature departs from an average, or baseline. They call these departures "anomalies." They do this because temperature anomalies are more consistent in an area than absolute temperatures are. For example, the absolute temperature atop the Empire State Building may be different by several degrees than the absolute temperature at New York’s LaGuardia Airport.