Développement durable et efficacité énergétique
18.5K views | +2 today
Follow
Développement durable et efficacité énergétique
Pour un développement durable et pour l'efficacité énergétique. «Pour ce qui est de l’avenir, il ne s’agit pas de le prévoir mais de le rendre possible. »  Antoine de Saint-Exupéry
Your new post is loading...
Your new post is loading...
Rescooped by Stephane Bilodeau from The Great Transition
Scoop.it!

We Could Be Witnessing the Death of the Fossil Fuel Industry—Will It Take the Rest of the Economy Down With It?

We Could Be Witnessing the Death of the Fossil Fuel Industry—Will It Take the Rest of the Economy Down With It? | Développement durable et efficacité énergétique | Scoop.it
In just two decades, the total value of the energy being produced via fossil fuel extraction has plummeted by more than half. Now $3 trillion of debt is at risk.

Via Willy De Backer
Stephane Bilodeau's insight:
"In February, the financial services firm Deloitte predicted that over 35 percent of independent oil companies worldwide are likely to declare bankruptcy, potentially followed by a further 30 percent next year—a total of 65 percent of oil firms around the world. Since early last year, already 50 North American oil and gas producers have filed bankruptcy. 

The cause of the crisis is the dramatic drop in oil prices—down by two-thirds since 2014—which are so low that oil companies are finding it difficult to generate enough revenue to cover the high costs of production, while also repaying their loans. Oil and gas companies most at risk are those with the largest debt burden. And that burden is huge—as much as $2.5 trillion, according to The Economist. The real figure is probably higher.
(...) the total value of the energy being produced via fossil fuel extraction has plummeted by more than half. And it continues to decline. 

This is because the more fossil fuel resources that we exploit, the more we have used up those resources that are easiest and cheapest to extract. This compels the industry to rely increasingly on resources that are more difficult and expensive to get out of the ground, and bring to market."
more...
Willy De Backer's curator insight, April 24, 5:45 AM
Another brilliant must-read analysis by Nafeez Ahmed of the financial collapse of the global oil industry and how it will bring down the capitalist economy.
Rescooped by Stephane Bilodeau from The Great Transition
Scoop.it!

Neoliberalism, Degrowth and the Fate of Health Systems

"Degrowth recognizes that humanity’s access to the earth’s resources and services of the biosphere are constraints upon socioeconomic activity. It also holds that politics and economics cannot trump thermodynamic and ecological realities. It places the limits to growth and ecological overshoot at the center of the predicaments Homo sapiens confront. It connects to culture and political/economy through this root public policy question: How to equitably distribute a shrinking economic pie?"

 



"We developed our world economy with oil as our security against future debt, always able to borrow more with the ‘certainty’ that cheap oil would provide future income to pay it off.

… This is the fundamental truth that eludes our cornucopian economists: our economy functions on energy input, not money output. Without endless cheap energy you can’t have endless employment. Our infinite demand has hit the wall of finite resources…[xxix]

Timothy Garrett, a contemporary physicist, has developed a model of economic activity as a heat engine -complete with a coefficient of output- which, expressed in lay terms means the economy is dependent for its output on the amount of energy –not capital or money or labor- flowing into it."

Must-read analysis by Dan Bednarz and Allana Beavis on what "the end of cheap energy and growth" means for Western health systems.


Via Willy De Backer
more...
No comment yet.
Rescooped by Stephane Bilodeau from The Great Transition
Scoop.it!

Where we wrong on peak oil? Don't think so...

Where we wrong on peak oil? Don't think so... | Développement durable et efficacité énergétique | Scoop.it

Brilliant response by Rob Hopkins of Transition Culture to George Monbiot's recent claim that were were wrong on peak oil.

 

"The “we were wrong about peak oil” argument only really works as something to get excited about if you are a cornucopian who also believes that free market economics and deregulation is the key to economic growth and prosperity. It also helps if you believe that climate change is a scam..."


Via Willy De Backer
more...
No comment yet.
Rescooped by Stephane Bilodeau from The Great Transition
Scoop.it!

IEA Oil Forecast Unrealistically High; Misses Diminishing Returns

IEA Oil Forecast Unrealistically High; Misses Diminishing Returns | Développement durable et efficacité énergétique | Scoop.it

"The International Energy Agency (IEA) provides unrealistically high oil forecasts in its new 2012 World Energy Outlook (WEO). It claims, among other things, that the United States will become the world’s largest oil producer by around 2020, and North America will become a net oil exporter by 2030."

 

Excellent critical analysis by Gail Tverberg of the over-optimistic new World Energy Outlook of the IEA.


Via Willy De Backer
more...
No comment yet.
Rescooped by Stephane Bilodeau from The Great Transition
Scoop.it!

Fool me twice, shame on me: The oil industry repackages the fake abundance story (from the late 1990s)

Fool me twice, shame on me: The oil industry repackages the fake abundance story (from the late 1990s) | Développement durable et efficacité énergétique | Scoop.it

"Only the oil industry would now have the audacity once again to peddle a story that it has gotten wrong for more than a decade as if it were brand new. Enlisting the media and its army of paid consultants, the industry is once again telling the public that oil abundance is at hand. And, what is doubly audacious is that it is promoting this tale as oil prices hover at levels more than eight times the 1999 low. Clearly, the industry is counting on collective amnesia to shield it from ridicule."

 

Good analysis by Kurt Cobb on how the pusher (the oil industry) is keeping the junkie (the economy) hooked on its stuff by offering dreams and fantasies. 


Via Willy De Backer
more...
No comment yet.