Global Energy Transition Plan

Despite there being no 'supply side solutions' able to replace or substitute current rates of world oil and gas demand, and cover coming physical supply shortages, near-term for oil and probable by 2010-11 for Eurasian pipeline gas, this fact is apparently contradicted by oil market operators. A myriad of players in the „paper oil‟ market, from the now mostly bankrupt or part-nationalized big private banks eg. Lehman Bros, Goldman Sachs, Merrill Lynch, to the smaller players notably including the hedge funds, can each day „talk down‟ and „talk up‟ oil prices.
Apart from providing large trading profits on unstable, volatile prices, and the values of related and derived assets, such as CDOs (commodity linked debt instruments) this market-based control of about 51 mln barrels/day (Mbd) of world traded oil supply is perceived as reassuring by the media and public opinion. The key slogan is :« if its traded it has to exist ». Anchoring this childish belief in the minds of consumers is very important to those who have no plan, model, programme or solution for the coming global reduction in oil and natural gas supplies, after their respective peak supply levels are attained...

The presentation is the powerpoint presentation that were displayed during the conference.

Published in: Paper presented at the ASPO 7 Conference in Barcelona, Spain, 2008
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