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IMF study: Peak oil could do serious damage to the global economy

IMF study: Peak oil could do serious damage to the global economy | The P2P Daily | Scoop.it

One week after IMF economist Michael Kumhof attracted attention with his remarkable ideas on debt and money creation in the working paper "The Chicago Plan Revisited", here he is again with another remarkable study, on peak oil this time. One scenario in his modelling predicts an 800 percent increase in oil prices in two decades. Anyone for more doom-and-gloom?

 

Is the IMF becoming revolutionary? And will the media and policymakers read and understand the implications of these excellent papers? I guess now the Queen will not have to ask questions why nobody warned of this clear and present danger.


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The new “Golden Age of Oil” that wasn’t

"In a sense, while the dreams of the boosters of these new forms of energy may thrill journalists and pundits, their reality could be expressed this way: extreme energy = extreme methods = extreme disasters = extreme opposition."

 

Michael Klare in the Energy Bulletin on the real facts behind the oil industry's hyping of extreme oil and gas myth.


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Energiewende: Stoppt den Bioenergie-Wahnsinn

Energiewende: Stoppt den Bioenergie-Wahnsinn | The P2P Daily | Scoop.it
Kraftstoffe vom Acker können den Klimawandel nicht aufhalten. Sie verschärfen stattdessen das globale Hungerproblem, attestiert nun die Nationale Wissenschaftsakademie.

 

A comprehensive new study published by the German National Academy of Sciences concludes that "Germany should not focus on Bioenergy to reduce the consumption of fossil fuels and GHG emissions". Germany's Die Zeit has an excellent summary of this interesting "Bioenergy – chances and limits" study.

 


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How renewables will change electricity markets in the next five years

How renewables will change electricity markets in the next five years | The P2P Daily | Scoop.it

Photovoltaic (PV) cells, onshore wind turbines, internet technologies, and storage technologies have the potential to fundamentally change electricity markets in the years ahead. Photovoltaic cells are the most disruptive energy technology as they allow consumers of all sizes to produce power by themselves—new actors in the power market can begin operating with a new bottom-up control logic. Unsubsidised PV markets may start to take off in 2013, fuelling substantial growth where PV power is getting cheaper than grid or diesel backup electricity for commercial consumers.

 

Good overview of the potential of renewables in the science magazine Energy.


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The global financial crisis and the prospects for ‘Green Growth’

The global financial crisis offers a big opportunity for progressive politicians to reenergise the green agenda.

 

British energy expert Dieter Helm provides a good analysis of why EU climate policy has failed to make a difference but his plea for "green growth" suffers from technology optimism and belief in the overhyped gas eldorado.


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Degrowth, expensive oil, and the new economics of energy

"Expensive oil ... does appear to be suffocating the debt-ridden, global economy, just as it is trying to recover ...

 

Unfortunately, mainstream economists, including those in government, seem oblivious to the close relationship between energy, debt, and economy, and this means they are unable to see that expensive oil is one of the primary underlying causes of today’s economic problems. Consequently, they craft their intended solutions (e.g. stimulus packages, quantitative easing, low interest rates to encourage borrowing, etc) based on flawed, growth-based thinking, not recognising that the new economics of energy means that the growth model, which assumes cheap energy inputs, is now dangerously out-dated. When growth-based economies do not grow, household, firms, and nations struggle to repay their debts, and quickly things begin to unravel in undesirable ways."

 

Excellent analysis by Dr Samuel Alexander of the links between global energy descent, rising commodity prices, the end of growth and the Great Depression.

 


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ARM forms M2M supergroup in Cambridge

ARM forms M2M supergroup in Cambridge | The P2P Daily | Scoop.it

The Internet of Things represents a big opportunity to drive growth for both UK and worldwide economies. According to IMS Research, governments will play a key role in defining the regulations that will propel shipments for M2M communications modules to more than 118 million units by 2016, especially in the automotive sector.

 ...

The first forum will meet on August 24 in the UK and will be chaired by Gary Atkinson, who leads the Internet of Things initiative at ARM.

 

“In the next five years, over £2.4 billion will be spent in the UK on smart home energy management devices, ranging from smart meters themselves to in-home devices that are connected to them. This is a great example of an Internet of Things application, but is only a fraction of the market that will open up over the next 15-20 years,” said Atkinson.


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How renewables will change electricity markets in the next five years

How renewables will change electricity markets in the next five years | The P2P Daily | Scoop.it

Photovoltaic (PV) cells, onshore wind turbines, internet technologies, and storage technologies have the potential to fundamentally change electricity markets in the years ahead. Photovoltaic cells are the most disruptive energy technology as they allow consumers of all sizes to produce power by themselves—new actors in the power market can begin operating with a new bottom-up control logic. Unsubsidised PV markets may start to take off in 2013, fuelling substantial growth where PV power is getting cheaper than grid or diesel backup electricity for commercial consumers.

 

Good overview of the potential of renewables in the science magazine Energy.


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