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Peak Oil News Sunday August 13th 2006
Review of Endgame by Derrick Jensen (Seven Stories Press, 2006, Two volumes, 285 pp.) We’re at the point at which even if the alleged “dream” of beauty contestants everywhere, “World Peace,” were to come tomorrow, to the Mideast, to Chechnya, to India-Pakistan, everywhere, we’d still be doomed.
Oil and natural gas production capacity should surge by 25% to 110 million barrels per day by the year 2015 - the result of investments in new and unconventional petroleum sources like oil-sand deposits and oil shale, according to a study conducted by Cambridge Energy Research Associates (CERA).
By now, most Americans realize that something is profoundly awry in the global oil patch. For most drivers, the evidence is obvious: record-high fuel prices that have surpassed last year's spikes after Hurricane Katrina. Yet to fully grasp the scope of the crisis looming before them, Americans must retrace their tankful of gasoline back to its shadowy sources. What that journey exposes is a globe-spanning energy network that is so fragile, so beholden to hostile powers and so unsustainable that our car-centered lifestyle seems more at risk than ever.
Despite predictions that 2006 would see a decline in oil prices a dramatic reversal has occured. But there is still no reason for the world to panic, writes Stephen Corley. Despite the well-documented collapse in Arab stock markets – and the domino effect effect on spending – high liquidity from oil revenues looks likely to remain the region’s defining feature for years to come.
Energy is central to war and peace, according to Rep. Curt Weldon, R-7th Dist., who said sustaining peace around the globe in the future is likely to hinge on countries having plentiful supplies. The congressman spoke to academics, entrepreneurs and government officials recently at the Alternative Energy Forum at Villanova University's College of Engineering.
Biofuels (such as bioethanol and biodiesel) are touted as eco-friendly alternative energies helping to solve a host of problems clouding the oil industry, including greenhouse gas (GHG) emissions contributing to climate change, over-dependence on oil importation, rising prices, and peak oil. While biofuels will clearly play an important role in addressing these problems, they may not represent a panacea - yet.