ODAC Newsletter - 16 January 2009


Welcome to the ODAC Newsletter, a weekly roundup from the Oil Depletion Analysis Centre, the UK registered charity dedicated to raising awareness of peak oil.

After a week of claims and counter claims, signatures and retractions by Russia and the Ukraine the gas dispute continued, leaving much of Eastern Europe still without gas supplies. The extended stoppage led on Thursday to the International Energy Agency (IEA) stripping Russia of its status as a reliable energy supplier. Hopes for a resolution are now focused on an EU brokered meeting at the weekend.

The ongoing gas dispute once again focuses attention on Europe’s dependence on Russia. In addition it has served to demonstrate how quickly environmental concerns are jettisoned when countries are faced with an energy supply shortage. Slovakia’s decision to start up its condemned Soviet era nuclear plant in order to maintain power supplies may be copied by Bulgaria. The situation underlines the urgent need to diversify power sources now before peak oil and gas lead to reactive measures - a course of action which according to a report this week from Energy Watch Group is being hindered by IEA misinformation.

Both the EIA and OPEC further reduced their 2009 oil consumption predictions this week in response to the continually worsening economic outlook. The EIA now predicts global demand to be 810,000 barrels/day less than 2008 despite growth in China and India. In the face of this, OPEC production cuts have not yet caused a price recovery despite confirmation by Saudi Arabia that it will cut production beyond its agreed quota and news that other countries may be prepared to cut production still further.

In the UK this week, evidence that the government is still in peak oil denial came in the form of an announcement on Thursday that Heathrow is to get a third runway. This decision indicates an underlying assumption that beyond the current economic crisis lies a future of unfettered growth where the only limits will be those which we choose to impose on ourselves in order to offset the spectre of climate change. The battles over the project will continue well beyond this announcement, but if built the third runway may in the future be the symbol which serves to exemplify the lack of foresight of our generation.

Join us! Become a member of the ODAC Newsgathering Network. Can you regularly commit to checking a news source for stories related to peak oil, energy depletion, their implications and responses to the issues? If you are checking either a daily or weekly news source and would have time to add articles to our database, please contact us for more details.


Disclaimers

Oil

EIA lowers 2009 world oil demand forecast

Back to top

Saudi to pump below OPEC target, ready to cut more

Back to top

Falling oil prices force Statoil to cut exploration

Back to top

Frontline Says Ships Storing the Most Oil in 20 Years

Back to top

Oil giant comes in from the cold

Back to top

PetroChina Parent, Iran Sign $1.76 Billion Oil Pact, Mehr Says

Back to top

Fresh Uganda oil find ‘Africa’s biggest’

Back to top

Oil industry lifted by falling costs

Back to top

Gas

Russia no longer 'reliable' energy supplier

Back to top

Dispute leaves Europe vulnerable

Back to top

UK gas prices rise as Russian dispute continues

Back to top

Nuclear

Nuclear fears as danger plant is reopened in gas war with Russia

Back to top

Germans to invest £20bn in new UK nuclear plants

Back to top

Renewables

Plugging Britain's green energy gap

Back to top

‘Green’ energy market to grow to £50bn

Back to top

International Energy Agency 'blocking global switch to renewables'

Back to top

Keep the home fires burning

Back to top

Waste leads £30bn energy revolution

Back to top

UK

Heathrow airport to get third runway, Geoff Hoon announces

Back to top

Plans to increase Britain's gas storage capacity left in tatters by credit crunch

Back to top

UK economy downturn 'frightening'

Back to top

Transport

UK airports see dip in passenger numbers

Back to top

Affordable electric car to 'hit streets in 2012'

Back to top

Shipping rates hit zero as trade sinks

Back to top

Disclaimers

The items contained in this newsletter are distributed as submitted and are provided for general information purposes only. ODAC does not necessarily endorse the views expressed in these submissions, nor does it guarantee the accuracy or completeness of any information presented.

FAIR USE NOTICE: This newsletter contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of issues of environmental and humanitarian significance. We believe this constitutes a 'fair use' of any such copyrighted material. If you wish to use copyrighted material from this newsletter for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.