ODAC Newsletter - 27 August 2010


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.

Cairn Energy announced this week that it had found evidence “indicative of an active hydrocarbon system” off Greenland. The news comes in the middle of a bidding round for oil and gas exploration licences there. The US Geological Survey estimated in 2008 that the region contains approximately 90 billion barrels of technically recoverable oil, but producing the stuff would combine the extreme challenges of deepwater drilling, extreme cold, and ice. Any accident would be massively harder to deal with than Deepwater Horizon because of the country’s remoteness.

News of the Cairn discovery, while popular with many in Greenland who hope that the revenues might help them win full independence from Denmark, was met by dismay from environmental groups; Greenpeace sent its ship the Esperanza to protest. On Wednesday, BP, whose safety reputation is now in the toilet, said it would not take part in this licensing round, no doubt to the great relief of the rest of the industry.

It seems the impact of the Deepwater Horizon disaster on the industry may have been exaggerated: the New York Times reports that the thousands of Gulf Coast job losses that were predicted have not materialized. In the UK however the Health and Safety Executive, which has increased its inspections in the wake of the disaster, warned companies that their safety record was “simply not good enough”, after reporting a significant increase on the number of leaks.

The Observer published a piece this week reporting on the UK government’s “secret” peak oil alarm. The article appears to refer to the government’s canvassing of expert opinion for the 2050 Pathways Analysis review referred to in ODAC’s 30th July newsletter. It also brings up the Chatham House rules meeting on peak oil between DECC and invited experts which was reported on in our March 26th newsletter. The article implies a cloak and dagger scenario which feels a little overdone on this occasion. ODAC looks forward to seeing the results of the governments peak oil review along with its white paper on energy at the end of the consultation period.

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Disclaimers

Oil

Cairn Drops in London After First Greenland Well Fails to Find Crude Oil

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Danes block Greenpeace vessel in Arctic

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BP frozen out of Arctic oil drilling race

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Oil companies warned on North Sea accidents

Iraq

Dozens Killed in Wave of Attacks Across Iraq

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Gas

US mounts global push for shale gas

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Natural-Gas Futures Premium Is at Narrowest in Seven Years: Energy Markets

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Nabucco pipeline confirms feeder lines to Iraq, Georgia

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Nuclear

Merkel Rebuffs E.ON, RWE on Nuclear Tax, Demands Alternatives

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Safety regulator tells nuclear reactor makers to redouble efforts

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Russian atomic agency looks to diversify

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West jittery as Iran completes its first nuclear reactor

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Renewables

Sunny outlook for solar panels

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British Gas introduces solar PV panel scheme

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Biden says country on track to double renewable energy capacity

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£70m tidal power scheme goes on display in Anglesey

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Food

Straw theft is omen for the future of food

Climate

Putin ponders climate change in Arctic Russia

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Event

ASPO-USA 2010 Peak Oil Conference

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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.

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