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Policy news & blueprints for the transition to a new Sustainable and Social Economy
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Big Oil's Big Lies About Alternative Energy

Big Oil's Big Lies About Alternative Energy | The Great Transition | Scoop.it
As President Obama calls for greater investments in alternatives, the biggest energy companies are doubling down on riskier, more destructive oil sources
Willy De Backer's insight:

That they lie is not the biggest problem - that political and business leaders believe them, that is the real tragedy. In the end, Big Oil will help kill Big Capitalism. And that's the irony.

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IEA Oil Forecast Unrealistically High; Misses Diminishing Returns

IEA Oil Forecast Unrealistically High; Misses Diminishing Returns | The Great Transition | 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.

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What Next for the Oil and Gas Industry?

What Next for the Oil and Gas Industry? | The Great Transition | Scoop.it

"The oil and gas industry is under pressures that will transform it. The effect of other industries on oil demand, the increasing opportunities for non-conventional oil and gas that offset perceptions of limits to conventional resources, and the shift of growth to Asia will all compel the industry to look for growth in value rather than volume, to distinguish between the expanding markets of developing countries and the declining markets of the private sector in developed countries, and to target technologies to a diversity of resource opportunities outside the state sector and to specialized partnerships within it."

 

New very interesting report from Chatham House.

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Total warns against oil drilling in Arctic

Total warns against oil drilling in Arctic | The Great Transition | Scoop.it
Total SA says energy companies should not drill for crude in Arctic waters, marking the first time an oil major has publicly spoken out against offshore oil exploration in the region.

 

This is not the first time Christophe de Margerie has the futs to speak against the narrative of other oil companies. Does he have a hidden agenda or is he seriously concerned?

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Book Review: Private Empire

"Coll’s newest work, Private Empire: ExxonMobil and American Power, makes clear that the world’s largest corporation is roughly as powerful a force on the global geopolitical stage as the world’s most dangerous terrorist network. And, not only powerful, but also sometimes working against the interests of the United States and its citizens"

 

 

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IMF Working Paper predicts doubling of oil prices in coming decade

A new internal working paper for the International Monetary Fund acknowledges physical constraints for oil production (peak oil) and foresees higher oil prices with negative impacts on economic growth.

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YPF in the world

YPF in the world | The Great Transition | Scoop.it

The sudden expropriation of Argentina’s YPF’s oil firm has stirred alarm across Spain, the EU and international business. But the galloping radicalization of economic policy led by a group of young officials in Buenos Aires is grounded in lessons drawn from the global crisis and the errors of European austerity. The results are uncertain, but the reasons are resounding.

 

Fascinating analysis of the Argentinian expropriation of the YPF oil firm, linking this state move to the failure in the US and Europe of applying neo-liberal medicines to the economic crisis.

 

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Arctic oil rush will ruin ecosystem, warns Lloyd's of London

Arctic oil rush will ruin ecosystem, warns Lloyd's of London | The Great Transition | Scoop.it
Insurance market joins environmentalists in highlighting risks of drilling in fragile region as $100bn investment is predicted...

 

Will oil companies take heed? No chance, I am afraid.

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If everyone used as much energy as Americans, we’d run out of oil in 9 years

If everyone used as much energy as Americans, we’d run out of oil in 9 years | The Great Transition | Scoop.it
Unlike gluttonous American industry, Europe's most profitable companies plan to make even more money by getting ahead of this whole peak oil trend.
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A new energy third world in North America?

"Here, then, is the energy surprise of the twenty-first century: with operating conditions growing increasingly difficult in the global South, the major firms are now flocking back to North America. To exploit previously neglected reserves on this continent, however, Big Oil will have to overcome a host of regulatory and environmental obstacles. It will, in other words, have to use its version of deep-pocket persuasion to convert the United States into the functional equivalent of a Third World petro-state."

 

Brilliant and provocative analysis by Michael Klare about the new extreme energy curse of America.

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There Will Be Oil—and That’s the Problem

There Will Be Oil—and That’s the Problem | The Great Transition | Scoop.it

Excellent article in Time on the future of oil. Unconventional oil - although not complety making up for declining conventional oil production - will lead to higher energy prices and will ultimately cook the planet.

 

And still political decisionmakers keep denying this very obvious reality. What is worse? Climate deniers or politicians in the pocket of the fossil fuel industry?

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Understanding the new price of oil

Understanding the new price of oil | The Great Transition | Scoop.it

"Supply and the recognition of supply are now the dominant factor in the oil price -- a point so obvious, it hardly seems worth making. However, the developed world is still largely operating on the classical economic view that higher prices will make new oil resources available."

 

Excellent analysis by Gregor Macdonald about the "new normal" of high oil prices.

 

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Royal Dutch Shell Launches Pre-emptive Legal Strike Ahead of Arctic Drilling

Royal Dutch Shell Launches Pre-emptive Legal Strike Ahead of Arctic Drilling | The Great Transition | Scoop.it
Shell's twisted tragedy to get to drill in the Arctic involves launching an attack against an environmental and indigenous human rights organization.

 

Like Beyond Petroleum in the past, is extreme oil company Shell shedding off its green feathers?

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US Energy: the New Reality

The trend of rising US dependence on imports of foreign oil and natural gas has been abruptly reversed, as a result of falling domestic demand for oil and increasing domestic supplies.
Willy De Backer's insight:

This Chatham House report paints a much more realistic picture of the US Energy 'Revolution' than the usual hype in the media.

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US can become world's biggest oil producer in a decade, says IEA

US can become world's biggest oil producer in a decade, says IEA | The Great Transition | Scoop.it
The US could become self-sufficient, while 90% of Middle Eastern oil could go to China, according to new estimates...

 

Yes and pigs CAN fly. I would like to know how much pressure was put on Fatih Birol and his team  to produce this PR report for big oil. Any investigative journalist can go after the real story behind this?

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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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L'Arctique, terre promise pour les compagnies pétrolières ?

"... la part des hydrocarbures en provenance du Grand Nord dans la production énergétique mondiale devrait sensiblement baisser d'ici à 2050, estiment le Bureau central de statistique et le Centre de recherches sur le climat norvégiens, dans une nouvelle étude publiée dans la revue Energy Economics."

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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) | The Great Transition | 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. 

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Richard Heinberg; Visualize Gasoline

Richard Heinberg; Visualize Gasoline | The Great Transition | Scoop.it

"Visualize life without gasoline. You might as well start doing so now, at least in imagination; soon enough, this will no longer be an exercise. Already prices are high and volatile. Next we’ll see international conflicts that shut down big portions of the global oil trade for weeks or months at a time. Strategic reserves will be tapped. The government will commandeer supplies for the military and police. One way or another, you’ll be using much less gasoline than you do today. How will your food be grown and transported? How will you get around? Will your job still exist? How will your community function?"

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What the new 2011 EIA oil supply data shows

Very informative article by Gail Tverberg explaining why oil supply is tight and prices high.

 

"On balance, it would appear that at best, oil production in the near future will be virtually flat, leading to more spiking of oil prices and greater world economic problems. Another possibility is that world production will begin to decline. The likelihood of decline would appear to be increased if more oil exporters encounter political disruptions, or if the world enters a major recession leading to an oil price decline."

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Total gas leak: Was Elgin platform leak an accident waiting to happen?

Total gas leak: Was Elgin platform leak an accident waiting to happen? | The Great Transition | Scoop.it
Industry sources say the North Sea incident reflects wider lapses across Britain's offshore industry, where safety checks and maintenance are regularly behind schedule.

 

Great article from UK's Daily Mail on the risks of "extreme energy".

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Does the U.S. Really Have More Oil than Saudi Arabia?

Does the U.S. Really Have More Oil than Saudi Arabia? | The Great Transition | Scoop.it

Good reality check by Robert Rapier of the so-called oil glut in the US, explaining the difference between tight oil and shale oil, and resources and reserves.

 

"...while the U.S. might indeed have greater oil resources than Saudi Arabia, U.S. oil reserves (per the BP Statistical Review of World Energy) are only about 1/10th those of Saudi Arabia. The distinction is important."

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Overseas aid to Africa being outweighed by hefty costs of importing oil

Overseas aid to Africa being outweighed by hefty costs of importing oil | The Great Transition | Scoop.it
Sub-Saharan states need to move to renewable energy sources as $15bn in aid is outstripped by $18bn in oil imports, says IEA...

 

But not only Africa is affected. Europe will suffer competitiveness loss as a result of oil dependence. "...for every $1 that countries do not spend on cleaner fuel, they will have to spend $4.3 within the next two decades to make up, for their reliance on fossil fuels".  EU oil bill is more than 550bn per year, the "equivalent of a Greek crisis - very year".

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Why Saudi and American bluffing won't lower oil prices

Why Saudi and American bluffing won't lower oil prices | The Great Transition | Scoop.it

"The world clamors for cheap energy as an addict clamors for a cheap fix. Both behaviors result in less than optimal outcomes until the parties involved realize it's time for some serious treatment. Europe and Japan are leading the way. Will America have the wisdom and ingenuity to follow them?"

 

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Has the Global Economy Become Less Vulnerable to Oil Price Shocks?

Has the Global Economy Become Less Vulnerable to Oil Price Shocks? | The Great Transition | Scoop.it

Very convincing economic analysis of the impact of high oil prices on the growth of the global economy. If any European policymaker wants to understand why all their efforts are not leading to new growth, they would better read this article.

 

However you turn it, we have entered the post-growth era.

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