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Peak Oil hits sooner than expected; We are f**ked
Topic Started: Apr 9 2010, 01:59 AM (148 Views)
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Why do we need more immigrants when we are on the verge of an energy crisis where there won't be enough for our own people?


"Lord Hunt, the energy minister, is to meet industrialists in London tomorrow in a bid to calm mounting fears about the disruption that could follow a sudden shortage of oil supplies.

In a significant policy shift, the government has agreed to undertake more work on whether the UK needs to take action to avoid the massive dislocation that could be caused by the early onset of "peak oil" – the point that marks the start of terminal decline in global oil production.

Jeremy Leggett, the executive chairman of the renewable power company Solar Century and a leading figure in the UK industry taskforce on peak oil and energy security, said the meeting, to be held at the Energy Institute, showed a welcome new sense of urgency.

"Government has gone from the BP position – '40 years of supply left, the price mechanism works, no need to worry' – to 'crikey'," he said. "BP and others are telling us that, but you lot, Virgin, Scottish and Southern, and others are telling us something completely different. We do not know who to believe. Let's do a proper risk assessment with industry," he said.

The meeting is expected to include executives from the taskforce members including Virgin, Arup, Stagecoach, Scottish and Southern Energy, and Solar Century as well as other industrialists.

The decision to hold the talks came after the UK industry taskforce on peak oil and energy security last month issued a provocative report, The Oil Crunch: a Wake-up Call for the UK Economy, in which it warned of the dangers of complacency.

Sir Richard Branson, founder of the Virgin Group, whose rail, airline and travel companies are sensitive to energy prices, warned then that the coming crisis could surpass the credit crunch. "The next five years will see us face another crunch: the oil crunch. This time, we do have the chance to prepare. The challenge is to use that time well," he said.

The government had previously played down the risks arising from peak oil after the Wicks review in the summer in effect dismissed the idea that global demand for oil could soon outstrip supply.

A spokeswoman for the Department of Energy and Climate Change confirmed last night that Hunt and a range of energy-policy civil servants would be holding "private and behind-doors" talks at the Energy Institute. But she played down the significance of the session, saying the government had always taken supply issues seriously and met different parts of industry on a regular basis. "We do this all the time; it is just a normal stakeholder meeting," she insisted, adding that there was no "marked" change in ministerial policy.

The issue of peak oil arose last November when whistleblowers inside the International Energy Agency alleged the problem had been deliberately downplayed over a long period. BP and other oil companies insist that there is little danger of the world running out of oil because new areas such as Brazil, and more recently Uganda, are always opening up to development. BP chief executive, Tony Hayward, believes demand will fall as prices move up., pushing back any major peak-oil dislocation.

But booming demand in China, India and the Middle East has pushed up the price of crude to more than $80 a barrel and UK petrol prices are close to record levels.

Amrita Sen, an oil analyst at Barclays Capital, believes the price of crude could pass $100 this year and reach nearly $140 by 2015. Francisco Blanch, of Bank of America Merrill Lynch, has speculated it could hit $150 within four years.

Leggett says all these scenarios could be much too optimistic. He is convinced that Britain must prepare as quickly as possible for a situation when oil becomes so expensive that international trade is hampered and globalisation breaks down.

Peak oil used to be the preoccupation of a small minority, but a parliamentary group has been set up to follow the issue and an increasing number of industrialists have begun to worry about it.

Ian Marchant, Scottish and Southern Energy's chief executive, is one who now believes global demand for oil is on the brink of outstripping the ability to produce it. At the launch of the Oil Crunch report, he said: "The west has been far too profligate in its use of oil and the price is going to say: stop it now and start using your oil as a scarce commodity."


http://www.guardian.co.uk/business/2010/mar/21/peak-oil-summit
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mostonian
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I work in the transport industry. And I don't think the man of the Clapham omnibus realise just haw easy it would be to run out of food. Because of the 'just in time' delivery system that the UK depends on, we're about five days from having empty shelves. Everything goes by road and depends on Oil. It's pretty scary if you sit and think about it.
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This isnt good.
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What will happen when we do run out? back to the stone ages i tnik
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itl muck up the Dl's with no electric thus no internet or phone top ups
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i went to the USA last year and the energy the yanks use is truly shocking!
there were no off switches on the tv's in the hotel (2000 rooms) only standby,
air conditioning 24/7,its that vast you cant get anywhere without a car.
i as pretty pissed off at our government telling me to switch a light off when i came back from there.
it makes no difference whatsoever when you see the scale of energy and oil use in the US ill tell ya!
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Craptola
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Well at least we have 300 years of coal under our feet. Hardly any real consolation but it's better than nothing.
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http://www.integralistparty.org/
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kaimana1
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clee39
Apr 9 2010, 02:08 PM
i went to the USA last year and the energy the yanks use is truly shocking!
there were no off switches on the tv's in the hotel (2000 rooms) only standby,
air conditioning 24/7,its that vast you cant get anywhere without a car.
i as pretty pissed off at our government telling me to switch a light off when i came back from there.
it makes no difference whatsoever when you see the scale of energy and oil use in the US ill tell ya!
Your concern is understandable :O i must say the bit about peak oil is overexaggerated i worked in the oil industry here in the U.S , whenever the price of oil went down exxon mobil and arco would place an order for production rigs to pull the tubing out of hundreds of wells andstop production on them until the price of oil went up i seen it with my own eyes repeatedly, and that was back in the 90s i still have family and friends in the industry and rest assured the oil companies still play these games. Especially after getting a tasteof 100$ a brrel oil these guys wont stop. :'( :'(
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Craptola
Apr 9 2010, 02:19 PM
Well at least we have 300 years of coal under our feet. Hardly any real consolation but it's better than nothing.
ive kept me fire going all winter with coal off the beach washed up from he power tations on the humber bank... :D
advanced anthracite coal as well i do believe!
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Craptola
Apr 9 2010, 02:19 PM
Well at least we have 300 years of coal under our feet. Hardly any real consolation but it's better than nothing.
Yeh fuck so called 'Global warming' get the pits back open get that coal burning :D

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I don’t recall who said this but it seems to fit “Civilization is only a meal away from anarchy”.

If there were a shortage of energy I think it would be the shock that the loony left need. I’m all for green energy but not at the of our standard of living. And yes, over population has allot to do with this.
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There's plenty of oil, this is just more of the climate change propaganda trying to scare you into agreeing what they want. For example, the estimated oil around the Falklands is 60bn barrels, as a comparison we've had 40bn barrels from the North Sea so far. Plus we can run diesel cars on cooking oil, crops like rapeseed can be grown for use as bio diesel.
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kaimana1
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Road_Hog
Apr 9 2010, 03:46 PM
There's plenty of oil, this is just more of the climate change propaganda trying to scare you into agreeing what they want. For example, the estimated oil around the Falklands is 60bn barrels, as a comparison we've had 40bn barrels from the North Sea so far. Plus we can run diesel cars on cooking oil, crops like rapeseed can be grown for use as bio diesel.
Agreed 110% :D
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Idjut Bungmewonga
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The sooner we can wean ouselves off as much oil as possible, the better - just look at the bastards we have to buy it off !
Most fundamentalism, new mosques etc is funded by the Saudis.
Winston Churchill on Islam ; ' The fact that in Mohammedan law every woman must belong to some man as his absolute property, either as a child, a wife, or a concubine, must delay the final extinction of slavery until the faith of Islam has ceased to be a great power among men. Individual Moslems may show splendid qualities - but the influence of the religion paralyses the social development of those who follow it. No stronger retrograde force exists in the world....
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fireman_tim
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If the Govt improves public transport with more fast trains, better and more subways, expanded light rail and buses, and has more cleaner coal power plants, then the lack of oil should not be too much of a problem?

That is of course until we figure out Star Trek technology :)

Although, in the Star Trek "history", all the groovy technology only came about after World War III.......
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There is plenty of oil and we are nowhere near running out just yet.

Just look at the figures for oil production and the price of a barrel of crude. These prices are deliberately inflated by greedy prospectors who increase the price if somebody so much as farts near an oil well!

Don't believe the hype. We aint gonna run out in any of our lifetimes.
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