Most recently in May 200, Auckland Regional Council resolved "to initiate the development of a multi-party Auckland regional energy strategy and action plan......" The Green Party has produced a raft of new bills, and is working on the terms of reference for a select committee inquiry into peak oil
. On the surface it appears a shift in policy direction is underway.
* What actually happened: I didn't make specific price forecasts in 2003, but the probability of higher oil prices is implicit in the very notion of peak oil
. The average price of oil in 2003 was $30, while the price in 2013 was over $100 (see "Annual average WTI and Brent crude oil spot prices from 1990 to 2013" at statista.com).
1 oil producer sparked the "peak oil
is dead" deluge in the first place.
Despite decades of being thoroughly maligned by most of the world, the Oil and Gas sector still controls the majority of the planet's energy resources.BGreen looks at the concept of peak oil
and what that means for resource efficiency in the industry
OUR cover image for this issue makes the potent point that for some environmentalists the threat that the world's oil production will soon begin to decline - so-called peak oil
- is the biggest danger facing us in the short to medium term.
After starting with three well-organized chapters linking an end to global economic growth with peak oil
and other environmental limits, the narrative ventures into anecdotal arguments about the limits of human innovation.
In the second, the author interrogates eleven different claims about everything from peak oil
and the circumstances surrounding its extraction and trade.
The issue of peak oil
and energy descent has been actively discussed in environmental circles particularly over the past decade.
Reserves of Novoportovskoye are about 404m toe (peak oil
production is about 13.1m toe per year), Messoyakha reserves are 560m tons of oil and 230b cm of gas (peak oil
production about 20m tons and 10b cm per year).
Despite having the same data, oil industry economists insist Peak Oil
is merely hype, a non-issue.
Transition Towns are grass-roots local groups finding local ways of dealing with the threats of peak oil
and climate change.