oil depletion

Australian government tries to hide its own peak oil report

The Daily Telegraph has revealed how the Australian government has attempted to suppress its own report on peak oil. The response from the New Zealand government had been equally secretive and obfuscating. » Read more

Oil Royalties a Mirage?

re-posted from my blog - oilshockhorrorprobe

Beside the release of the government's final Energy Strategy was a report from Woodward Partners purporting to estimate the potential royalty income from existing, and yet to be discovered oilfields. » Read more

New Zealand’s Tui Oil Field. - Peak Oil With Bells On

One of the least understood elements of peak oil is the rapid decline rate of production from the peak for any given oil field. For an example of just how severe and steep the decline rate can be, look no further than the recent announcement that the Tui oil field in the Taranaki Basin has had its remaining oil reserves slashed by 1/5, and that production will fall off a cliff. For a New Zealand oilfield, this is peak oil in action with bells on. » Read more

Peak Oil For Saudi Arabia confirmed by WikiLeaks

Projections by peak oil people that Saudi Arabia oil reserves have been grossly overstated (by 40%) and that the country can no longer prevent world oil prices rising have been confirmed in confidential cables from the US Consulate, released by WikiLeaks » Read more

NZ Defence Report Ignores Peak Oil. US/German Military Warn It's A Grave Risk

The just released Defence White Paper on New Zealand's strategic and security interests to 2025, as Gordon Campbell points out, is long on rhetoric, and short on coherence and detail.  But worse still it fails to even mention a very serious and imminent threat to our security which both the US and German military have warned about - namely the peaking of global oil production leading to dwindling world oil supplies. » Read more

Mining group believes in tooth fairy -- "New Zealand cushioned against oil shocks"

Straterra, a body representing mining companies has said, "New Zealand is in an excellent position to withstand any future oil shocks, thanks in particular t » Read more

"Peak hype" on New Zealand's offshore oil reserves

There was much hype and hoopla at the recent New Zealand Petroleum Conference about the extent of New Zealand's potential oil and gas reserves. Chris Uruski, a GNS scientist told Chris Laidlaw on Radio NZ's Sunday that we potentially have 20 billion barrels of oil equivalent in New Zealand's offshore exclusive economic zone. » Read more

UK Govt Acting on Peak Oil but NZ Govt Deep in Denial

The UK's Energy Secretary Chris Huhne has ordered his officials to look at the impact of a 1970s-style oil price spike on the British economy. Mr Huhne warned that a  1970s-style doubling in the price of oil would drain £45billion from the UK economy in two years, hitting investment and jobs.

Meanwhile our Energy Minister Gerry Brownlee and the NZ government are deep in denial about peak oil and resulting higher oil prices.

Peak Oil could halve New Zealand's econony - says Study

Two Canterbury University academics have analysed the impact of fuel restraint (peak oil) on New Zealand's economy. » Read more

NZ Draft Energy Strategy - a charade

I read the governments Draft Energy Strategy  and discovered that apart from a bland statement that oil prices will rise and be volatile, it fails to identify the risks to New Zealand's energy security. There is no discussion in the DES about the threats to New Zealand of oil scarcity arising from global oil depletion and no analysis of the potentially devastating impacts on the New Zealand economy from scarcity and/or higher oil prices. Nor does it discuss how soon these threats might arise. For example could they occur within one year, five years, 10 years, or longer? » Read more

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