The Peak Oil Crisis: Iraq on the Precipice
ISIS now has control of one of three major refineries in Iraq which supplies the motor fuel and oil for power stations for the northern part of Iraq. Let’s assume, however, that before this year or next is out, Iraqi oil exports drop substantially as it has in several other oil-exporting states undergoing similar political trauma. Just what does this mean for the world’s oil supply? (Also see: It’s the Oil, Stupid! Insurgency and War on a Sea of Oil (Tomdispatch.com)
Oil Production Numbers Keep Going Down
By Dave Summers, Oilprice.com
One problem with defining a peak in global oil production is that it is only really evident sometime after the event, when one can look in the rear view mirror and see the transition from a growing oil supply to one that is now declining. Before that relatively absolute point, there will likely come a time when global supply can no longer match the global demand for oil that exists at that price. We are beginning to approach the latter of these two conditions,
Oil-Rich Iran Planning To Spend $60 Million On Solar PV This Year
Leading oil producer Iran is aiming big with renewable energy, based on recent statements made by the Iranian Energy Minister, Hamid Chitchian. The country’s new goal is to add 5,000 MW of new solar energy and wind energy capacity by the year 2018. That’s a big increase over the country’s previous aims, and sort of makes you wonder what it is that they know about the near-term future of the oil industry.
Is North Dakota Oil Production Rapidly Approaching a Peak?
From The Motley Fool
North Dakota’s Bakken is one of the most phenomenal shale oil growth stories in the U.S. But some commentators suggest that this rapid production growth can’t go on for much longer, citing sharp decline rates for Bakken wells. Could this mean that Bakken production is rapidly approaching a peak?
Carbon offset scheme ‘complicit’ in genocidal land grabs
By Nafeez Ahmed, The Guardian
Between 2000 and 2010, a total of 500 million acres of land in Asia, Africa, Latin America and the Caribbean was acquired or negotiated under deals brokered on behalf of foreign governments or transnational corporations. Many such deals are geared toward growing crops or biofuels for export to richer, developed countries – with the consequence that small-holder farmers are displaced from their land and lose their livelihood while local communities go hungry. Less known factors, however, include ‘conservation’ and ‘carbon offsetting.’
Govt readies Rs 14,000 cr subsidy for hybrid, electric cars
From The Times of India
Buying a hybrid or an electric car may soon fetch you a subsidy from the government, which is readying a Rs 14,000-crore scheme to push green vehicles. The subsidy will be a proportion of the difference between the price of a car running on fossil fuel and that of a green vehicle, said sources involved with the discussions. (Also see: a debate on the issue in The Times of India)
Govt panel proposes green cess on petrol, vehicles
From The Times of India
Vehicle owners could soon be asked to pay more for environment. A green surcharge of Rs 2 on petrol sold across the country and green cess on existing personal vehicles at the rate of 4% of annual insured value are some of the recommendations of a government panel. The panel has suggested levy of 7.5% urban transport tax on purchase of new petrol cars and 20% in case of diesel cars.
Solar power stocks see multi-fold jump on hopes from Modi govt
From The Economic Times
Companies with exposure to the solar power segment have seen a bull-run since the beginning of this year, with stock prices jumping three-and-half times. They have gained on expectation that the Modi government would implement the successful Gujarat solar-power model elsewhere, too.
Elon Musk Releases Electric Car Technology Patents
From Los Angeles Magazine
South African-born entrepreneur Elon Musk, the man behind the Tesla electric car, announced last week that Tesla’s automotive patents would be made available, open source-style, “for the advancement of electric vehicle technology.” The move shocked the automotive cognoscenti because patents are generally considered sacrosanct evidence of differentiating technological advances.