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Ten reasons why high oil prices are a problem

Ten reasons why high oil prices are a problem | Sustainable Energy | Scoop.it

A person might think from looking at news reports that our oil problems are gone, but oil prices are still high.


In fact, the new “tight oil” sources of oil which are supposed to grow in supply are still expensive to extract. If we expect to have more tight oil and more oil from other unconventional sources, we need to expect to continue to have high oil prices. The new oil may help supply somewhat, but the high cost of extraction is not likely to go away.

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Stephane Bilodeau's curator insight, February 10, 2013 4:10 PM

Why are high oil prices a problem?


1. It is not just oil prices that rise. The cost of food rises as well, partly because oil is used in many ways in growing and transporting food and partly because of the competition from biofuels for land, sending land prices up. The cost of shipping goods of all types rises, since oil is used in nearly all methods of transports. The cost of materials that are made from oil, such as asphalt and chemical products, also rises.


If the cost of oil rises, it tends to raise the cost of other fossil fuels. The cost of natural gas extraction tends to rises, since oil is used in natural gas drilling and in transporting water for fracking. Because of an over-supply of natural gas in the US, its sales price is temporarily less than the cost of production. This is not a sustainable situation. Higher oil costs also tend to raise the cost of transporting coal to the destination where it is used.

Mercor's curator insight, February 11, 2013 6:02 AM

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Norway to double carbon tax on oil industry

Norway to double carbon tax on oil industry | Sustainable Energy | Scoop.it

Norway is to double carbon tax on its North Sea oil industry and set up a £1bn fund to help combat the damaging impacts of climate change in the developing world.

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DON'T WORRY, DRIVE ON: Fossil Fools & Fracking Lies

Hello, Vimeo - This video represents the talents of animators Alexander Perry & Michael Wilson along with audio genius Ben Roider.
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Energy Independence: Not the Solution to All Problems

Energy Independence: Not the Solution to All Problems | Sustainable Energy | Scoop.it

The United Kingdom offers a good example. The UK has been roughly oil independent since the North Sea oil fields were developed. Gasoline (petrol in their language) is priced at almost the same level as in the United States when you strip out taxes. Further, UK petrol prices rise and fall with world oil and gasoline prices. So energy independence does not mean cheap and stable gasoline prices.

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Why peak oil threatens the International Monetary System

Why peak oil threatens the International Monetary System | Sustainable Energy | Scoop.it

The current incarnation of the International Monetary System, in which the USA enjoys the exorbitant privilege of borrowing practically for free, and is therefore able to pursue reckless fiscal policy with immunity from the adverse consequences that non-reserve currency issuing nations would experience by doing so, cannot continue indefinitely. Therefore, it will not continue indefinitely. How and when it will end is hard to say, especially considering the fact that it’s already persisted for 42 years after it stopped making sense. The system will continue to operate until some catalyst or trigger event brings about catastrophic change.

The next Peak Cheap Oil price spike is not the only possible catalyst to bring about a U.S. bond and currency crisis, but it’s the most likely candidate I’m aware of. I don’t believe that U.S. energy independence is possible, but if it were, the end of oil imports from the Middle East would also be the catalyst to end exorbitant privilege and bring about a U.S.bond and currency crisis. To summarize, the music hasn’t stopped quite yet, but when it does, this will end very, very badly. I’m pretty sure we’re on the last song, but I don’t know how long it has left to play.

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BSR Report: Future of Fuels is 'Efficiency'

BSR Report: Future of Fuels is 'Efficiency' | Sustainable Energy | Scoop.it
The Sustainability Impacts of Fuel — the first report in sustainability consulting firm BSR’s Future of Fuels initiative — assesses the total sustainability impacts of commercial transportation fuels: gas/diesel, natural gas, biofuel, hydrogen, electric power (battery-powered vehicles), and efficiency, because the report says the savings available in reducing energy use can provide an important source of additional energy.
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Are Renewables Just Freeing Up Oil For Export? | Green Prophet

Are Renewables Just Freeing Up Oil For Export? | Green Prophet | Sustainable Energy | Scoop.it

Does an expanding renewables market in the Middle East (such as that showcased in Masdar) just mean more oil can be exported and more profit made at the expense of the world climate?

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