What is Peak oil?
"The term Peak Oil refers to the maximum rate of the production of oil in any area under consideration, recognising that it is a finite natural resource, subject to depletion."
Submitted by Kjell Aleklett on Tue, 2014-02-25 14:00.
The Oil & Gas Journal has published an article with the headline, "Chesapeake mulls spinoff, sale of oil field services division". The article is especially interesting since Chesapeake is one of the largest companies in fracking. On Chesapeake Energy Corporation’s website one can read that they are the second largest producer of natural gas and the eleventh largest company for production of oil and NGL in the USA. Further, one can read that, “The company’s operations are focused on discovering and developing its large and geographically diverse resource base of unconventional natural gas and oil assets onshore in the U.S. The company also owns substantial marketing, compression and oilfield services businesses.” On 11 February 2014 the company submitted an “Investor presentation” and they explained that they were required to make such “forward-looking statements” by Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Submitted by Kjell Aleklett on Fri, 2014-02-07 16:57.
Image: Bo Diczfalusy
On February 6 the Network for Oil and Gas (NOG) in Sweden organised a symposium at which the World Energy Outlook 2013 report was discussed, primarily in terms of a changing energy market. Personally, I was interested in what Bo Diczfalusy, Director at the Swedish Ministry of Enterprise and Energy, would say about WEO 2013. From December 2009 until December 2012 he was Director of the Directorate of Sustainable Energy Policy and Technology at the International Energy Agency (IEA). That means that he is well acquainted with the production of WEO reports. His presentation on WEO 2013 did not differ significantly from that given by the IEA’s Chief Economist Fatih Birol last autumn. Possibly he pointed out even more clearly that the WEO report is a scenario calculation restricted by certain assumptions.
Elin Akinci from the Energy Authority gave a more detailed description of the natural gas scenario that exists in WEO 2013.
Submitted by Mikael Höök on Fri, 2014-01-17 16:02.
Find the full theme isse here:
Submitted by Kjell Aleklett on Fri, 2013-12-20 05:45.
For the second time a dialogue has been organised during the Nobel Prize week and this time it was in Gothenburg. The idea of the event is that one should take advantage of the unique opportunity that a number of Nobel Prize winners, other leading researchers, leaders of industry and politicians are gathered in Sweden for the Nobel Prize festivities. The theme for the dialogue this year was the future of energy and I felt honoured to be invited to participate. It was especially enjoyable for me to be in Gothenburg since this is the city in which I was born and studies. However, the reason for my invitation was my research on global energy systems.
The invitees began the day with a joint breakfast. For the breakfast the organisers had invited David MacKay as speaker.
Submitted by Kjell Aleklett on Sun, 2013-12-08 07:27.
On December 9th, the day before the Nobel Prizes are handled out in Stockholm, there is a "Nobel Week Dialogue" in Gothenburg. This year's theme is "Exploring the Future of Energy" and participating Nobel Laureates are presented by the organizers. My contribution to the dialogue is now published by Svenska Dagbladet on “Brännpunkt” under the heading "Now we need new energy systems" (Read the article in Swedish on Brännpunkt).
Submitted by Kjell Aleklett on Fri, 2013-11-22 02:52.
By Kjell Aleklett
The largest oilfield in the USA south of Canada is said to be the East Texas Oilfield. (The largest oilfield in the USA is Prudho Bay in Alaska).Since I began my research on oil in 2003 my mental image of the East Texas Oilfield has been the graph of production from that field that Jean Laherrère used to present and update every year. The latest version is updated for 2012. We see that production reached a maximum in 1933 and then declined until the 1960s when they began to pump water into the field to raise its pressure. Production then increased for some years before beginning to decline once again. Since the middle of the 1990s production has crashed.
Submitted by Kjell Aleklett on Thu, 2013-11-14 14:30.
By Kjell Aleklett
Last year the IEA focused on shale oil in the USA as their main story and the news spread around the world that the USA would overtake Saudi Arabia as the world’s leading oil producer.
Submitted by Kjell Aleklett on Mon, 2013-09-16 12:32.
The fact that they have now begun to produce oil from Kashagan and that we know the project costs are $48 billion gives me reason to look at a report that Goldman Sachs presented in March 2012, ”360 projects to change the world”. They have studied how much oil and gas the various projects are planned to deliver and the very interesting information on what oil price is needed for the projects to be profitable. The fact that all new projects need financiers means that new projects are well documented. This also makes it possible to do this analysis. The analysis can be seen as one of optimal possible new future oil production.
Submitted by Kjell Aleklett on Wed, 2013-09-11 21:21.
Network Oil & Gas (NOG) was formed in Sweden 12 years ago. It is a forum for training, exchange of experience and debate on issues that affect the use and significance of fossil fuels. During a year, NOG aims to organise approximately six symposia. Last Monday’s symposium was titled, “Perspective on future oil use” and was the 69th to be held. I was most recently invited to deliver a lecture for NOG in 2004 but as early as 2001 I was invited to present at one of their symposia that they had organised to examine the extent of public interest in issues regarding oil and gas. Last spring it was discussed that I would be invited to present a lecture on my book “Peeking at Peak Oil”. During the summer, Staffan Riben, the chairperson for the program committee and the moderator of the symposium read my book.
Submitted by Kjell Aleklett on Tue, 2013-09-03 17:33.
Nobody denies that there is a connection between economic growth and oil consumption. The clearest signal came in 2008-9 when the world economy crashed at the same time as oil production sank dramatically. If one is to describe this in a little more detail then it is not oil production itself that is decisive rather than that part of oil production that passes through the world’s refineries and then becomes transport fuel. Transportation of raw materials and components for manufacturing of goods, transportation of products to retail outlets and, finally, transport of customers to those outlets is the chain that gives economic growth. Therefore, it can be interesting to study what passes through refineries, where it is, and what refinery products are produced.