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Peak Oil News Friday August 25th 2006
Actor/environmental activist Ed Begley, Jr., talks about a wide range of environmental and energy issues [Video]
Ed Begley, Jr., is an actor and activist well-known for his commitment to walking (or bicycling) the environmental walk as well as talking the environmental talk. Mr. Begley sat down in his solar-powered Los Angeles home yesterday afternoon to talk, about peak oil, California Proposition 87, wind farms, electric cars, and photovoltaic electricity. You can watch and listen to what he had to say.
Oil crisis by 2010
WORLD oil production will peak in just 1500 days. After that, oil shortages will force massive changes to our lifestyle and business, experts have predicted. Higher petrol taxes to deter people buying as much, strict petrol rationing and Adelaide production of small fuel-frugal cars were urged yesterday by an Australian group concerned with "peak oil". That is when world oil production peaks. After that, shortages will occur.
DOE predicts gasoline shortages
Gasoline shortages and even higher prices loom, a new government report says, and it will take decades and trillions of dollars to replace American dependence on foreign oil. The U.S. Department of Energy report directly addressed the concept of peak oil and how to deal with it. Peak oil means oil production is maximized and supply goes down from that point forward. Coupled with a surge in demand from countries like China and India, some energy experts say this could be a problem for America's economy. "The world is consuming more oil than it is finding, and at some point within the next decade or two, world production of conventional oil will likely peak," the report says.
Peak Oil Passnotes: Peak Pipelines
The venerable and entertaining Matthew Simmons of Simmons International investment banking has managed to tweak the ear of the media once again this week. This time however it is not those nasty Saudi Arabians about which Simmons has written so much. Instead it is about pipelines. Apparently because BP has had serious corrosion at its Prudhoe Bay North Slope Alaska operations we are heading for $300 crude. Not surprisingly he did not specify a time frame for that. "The industry cut too many corners when prices were low. For 25 years, there was not a proper maintenance program. We backed ourselves into a system, rigs, pipelines and refineries, that rusted away. The anecdotal evidence is so widespread that it is undeniable.
When oil dries up
Oil is close to running out, and chaos will follow, according to a US expert. Nick Galvin reports. Richard Heinberg is an unlikely latter-day Jeremiah. The contrast between this quietly spoken Californian college professor and accomplished classical violinist and his explosive message couldn't be more marked. Heinberg, who is embarking on an Australia-wide speaking tour, is a leading proponent of the "peak oil" theory. Peak oil is shorthand for the premise that the amount of oil left for us to use has "peaked" (or is just about to peak). Once worldwide production begins to fall and with no corresponding decrease in demand, oil prices will skyrocket, leading to widespread chaos. How bad will it be? If Heinberg is to be believed, the impending dislocation caused by the end of the oil era will be about as bad as it gets.