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Current Oil Price: ($/Barrel)
Date: May 14, 2008
$126.64
Average Price 2007
$72
*source: bloomberg.com/energy

 

The Coalition Against Oil Dependency is obligated to further expand the awareness of the impending peak in global oil production. Through a multitude of primary and secondary research, we hope to offer an unbiased expansive perspective on the world's increasing addiction to fossil energies. The time has come for people to except the inevitable; it is our hope that we can help broaden the understanding of how this plateau in oil production will affect every aspect of modern civilization.

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Daily Quotes
5/16/2008Oil production has peaked as demand soars
If you are still skeptical, maybe this will change your mind... in an email sent to Shell Oil employees in January of 2008, Shell Oil's CEO, Jeron van der Veer stated that the company estimates that after 2015, supplies of easy-to-access oil will not keep up with demand.
5/14/2008The truth and lies about world's oil supply

The first myth asserts we have plenty of oil, and that discussion of depleting supplies is not a serious matter.

The second myth states that nothing much is going to change for decades, that people will continue to consume petroleum-based motor fuels the way they have been for the foreseeable future.

The third myth is that oil companies are seriously working on the problem of peak oil, will soon produce viable and cost-competitive solutions, and that a technology fix will save the day.

The fourth myth says we can convert to alternative fuels only after we make massive investments in infrastructure.

The fifth myth insists alternative fuels are too costly, and more R&D is needed before they can be widely used.

 

5/14/2008Aging steel oil pipelines latest threat facing United States
As the foremost insider, he backs this up with statistics: World oil production was 69,448 million barrels per day (mbd) in 2003, jumped to 72,512 in 2004, increased to 73,807 mbd in 2005, and from there it fell 268,000 barrels per day to 73,539 mbd in 2006 and a further 265,000 to 73,274 million mbd last year, with more rapid declines in years to come. The quicker the fall in production, the higher the jump at the pump, of course.
5/13/2008 CNN: Briefing: Oil
All of the world's resources are finite so we will run out at some point. The big debate at the moment is about when oil production will peak -- i.e. when half of oil stocks have been used and production begins to slow....read more...
5/13/2008OPEC's Days Are Numbered
When there is no remaining economic benefit from being a member of OPEC the members will quickly flee the organization to avoid the stigma. Today the global population hangs on every word muttered by an OPEC member in hopes the mighty OPEC cartel will be kind and open the flood gates and let the oil flow. Eventually the public will realize those gates have been open and there is no excess production.
5/12/2008The Oil Nonbubble

All through oil’s five-year price surge, which has taken it from $25 a barrel to last week’s close above $125, there have been many voices declaring that it’s all a bubble, unsupported by the fundamentals of supply and demand.

But it hasn’t happened this time: all through the period of the alleged bubble, inventories have remained at more or less normal levels. This tells us that the rise in oil prices isn’t the result of runaway speculation; it’s the result of fundamental factors, mainly the growing difficulty of finding oil and the rapid growth of emerging economies like China. The rise in oil prices these past few years had to happen to keep demand growth from exceeding supply growth.

5/8/2008Big Oil Strike in Brazil has Tongues Wagging, but We Continue Towards Peak Oil
"We're already seeing that the world as a whole, reached the peak of its discoveries in the 1960's. Yet we haven't wanted to draw the conclusions from this relevant fact.

Scientists and experts who do want to draw those conclusions, created the Assocation for the Study of Peak Oil (ASPO, www.peakoil.net), which went on to extend its studies to the analysis of the arrival of peak natural gas production worldwide, coming a few years or decades after that of oil."

5/7/2008The end of cheap oil is now
"Never underestimate a politician's ability to pander. With gasoline prices nearing $4 a gallon and the summer driving season approaching, presidential candidates John McCain and Hillary Clinton have responded by calling for a consumer holiday from the federal gasoline tax."......"The real issue that McCain, Clinton and anyone truly serious about gas prices must confront is peak oil. Peak oil theorists do not suggest that the Earth will surrender its last drop of oil anytime soon. Rather, they contend that the world's oil supply has, or soon will, hit its upper limit, and then shrink."
5/5/2008U.S. gas: So cheap it hurts
Despite daily headlines bemoaning record gas prices, the U.S. is actually one of the cheaper places to fill up in the world. Out of 155 countries surveyed, U.S. gas prices were the 45th cheapest, according to a recent study from AIRINC, a research firm that tracks cost of living data.
5/2/2008The Peak Oil Crisis: The Half-Life For Air Travel
Knowledgeable observers are expressing doubts these moves will be enough. People are starting to talk about $200 oil which implies that airline fuel costs will double again. Newer aircraft are more efficient, but the improvements are nowhere near what is necessary to keep up with surging fuel costs and, as Continental Airlines concluded this week, there is not enough financial benefit in a merger to keep up with costs.
5/1/2008Peak oil expert also makes presentation at BCC
"Oil is our foremost energy source in this country and most of the world as a whole," said Mr. Heinberg. "Energy is not an incidental issue. Economists tend to look at energy as being a small, boring segment of the economy. But, if you think about it, energy is the economy. Without it, nothing happens."
4/30/2008 Shell Oil president: To cut price, produce more gasoline in U.S.
ROBERTS: The president is advocating more drilling on U.S. territory. Isn't it true that globally we're starting to reach a peak in production and that within maybe a decade or two oil production will begin to decrease?

HOFMEISTER: Well, I think there is some argument [that] with convenient, easy oil we will peak sometime in the next decade. I think Shell sees that coming, but in terms of total oil supply to the world, we're a long way from reaching peak oil because it doesn't take into account unconventional oil.

4/29/2008Peak oil at Bush press conference

President Bush Today

..One of the main reasons for high gas prices is that global oil production is not keeping up with growing demand.

...I think we better understand that there's not a lot of excess capacity in this world right now.

...demand is rising faster than supply. And that's why you're seeing global energy prices rise.

...But there is no magic wand to wave right now. It took us a while to get to this fix.

4/28/2008City of Maribyrnong: Peak Oil Policy
Australia and the world have operated in an environment of increasing oil supply where we have always been able to meet oil demand growth created by increases in population and technology. Reaching the peak in oil production ushers in a new era where we will be operating in an environment of constant energy scarcity. Achieving continued economic
prosperity will become more difficult and will require greater efficiency measures and innovation.
4/26/2008
EnerDel Receives Positive Results in Independent Tests on Company's Lithium-Ion Automotive Battery System
EnerDel, the advanced automotive battery systems subsidiary of alternative energy company Ener1, Inc. (OTC Bulletin Board: ENON), today announced confirmation by a U.S. government laboratory of the energy, power and efficiency, as well as thermal performance, of the company's lithium-ion automotive battery system.
4/24/2008Our Lives Without Oil
What will the world, and American society, do without oil? Will we achieve a planned, relatively gradual shift to a life without it, or will we face the shock of sudden depletion, with industry and transportation paralyzed, food distribution uneven and unreliable, and conflicts, including armed conflicts, on every hand?
4/22/2008Peak oil problems need facing now
"Most of our population are in a state of denial that firstly it even exists, and secondly the implications it holds for an affluent nation totally dependent on the non renewable resource of fossil fuels to meet most of their current needs."
4/21/2008Airsick: An Industrial Devolution
Twenty days. Twenty thousand still images. A single message. Toronto Star photographer Lucas Oleniuk captures the issue of global warming in a video created entirely by using still images. It's part of the countdown to Earth Hour, March 29.
4/20/08The 11th Hour
The 11th Hour is a 2007 feature film documentary, created, produced and narrated by Leonardo DiCaprio, on the state of the natural environment. It was directed by Leila Conners Petersen and Nadia Conners and financed by Adam Lewis, Pierre André Senizergues and Doyle Brunson, and distributed by Warner Independent Pictures. Its world premiere was at the 2007 60th Annual Cannes Film Festival (May 16-27, 2007) and it was released on August 17, 2007, in the year in which the Fourth Assessment Report of the United Nations global warming panel IPCC was published and about a year after Al Gore's An Inconvenient Truth, a movie-documentary about global warming.
4/16/08Renewable Energy facts - peak oil
"Renewable electricity generation capacity reached an estimated 240 gigawatts (GW) worldwide in 2007, an increase of 50 percent over 2004. • Renewables represent 5 percent of global power capacity and 3.4 percent of global power generation."
4/16/08Peak Oil Comes to Russia, New Oil Surprises Brazil
"The Russian government, however, has been reluctant to admit Peak Oil has arrived. But on Monday, even its energy minister, Viktor Khristenko, conceded that “the output level we have today is a plateau or stagnation,” according to a Financial Times commentary.".......................Petroleo Brasileiro, or Petrobras (NYSE-PBR), Brazil’s largest oil company, announced it has discovered a reservoir that might harbor one of the world’s largest oil fields.
4/3/08An Energy Policy that Makes Cents
"The first step in an energy policy that addresses peak oil is to start acknowledging the problem at the highest levels of government. No difficult problem can expect to be solved until it is first acknowledged. We need to make the words "peak oil" as prevalent on the lips of Americans as is "Britney Spears" or "Hannah Montana". Every citizen needs to know exactly what is at stake here."
3/18/08Sydney must prepare now for peak oil
"Now that the CEOs of General Motors and Shell Oil and the former US defence secretary have acknowledged that it's time to prepare for peak oil, surely the NSW premier should commit to a NSW response," Ms Rhiannon said.
   
 
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