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Oil prices are expected to average between $100 and $120/barrel in 2012. “Economists say they expect prices to remain high despite the relative weaknesses of the American and European economies because global demand for oil … is escalating and outstripping supply.” [New York Times] Due in part to consumers driving less and purchasing more fuel efficient cars, the United States economy has weathered high oil prices relatively well in 2011. Bernard Baumohl, chief global economist at the Economic Outlook Group, told the Times that “the danger is if oil starts to move toward $130 a barrel, or even higher… Then… [more]
View InsightThe New York Times has reported that Iran has threatened to block all oil shipments through the Strait of Hormuz, which serves as a transport corridor for approximately 1/5 of world oil supply. The threat is in response to U.S. sanctions on Iran that are awaiting President Obama’s signature. The sanctions, if enforced, would penalize foreign businesses for doing business with Iran’s national bank, which is responsible for collecting payment on much of the country’s energy exports. The sanctions are in response to a November IAEA report, and are intended to penalize Iran for pursuing secretly nuclear weapons in spite… [more]
View InsightExxonMobil recently released its 2012 Outlook for Energy: A View to 2040, a report forecasting energy trends out for the next several decades. Among the projections highlighted in ExxonMobil’s announcement: “Global energy demand is expected to rise by about 30 percent from 2010 to 2040, [but] demand growth would be approximately four times that amount without projected gains in efficiency.” “ExxonMobil sees advanced hybrid vehicles accounting for 50 percent of the cars people will drive in 2040, compared to about 1 percent today. This, plus improved fuel economy in conventional vehicles, will cause demand for energy for personal vehicles to… [more]
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The Wall Street Journal is reporting that the Obama Administration has decided to defer its decision on the Keystone XL pipeline until after the 2012 election. The decision came through the State Department, which in a statement said that it would be evaluating alternative routes that might avoid an environmentally sensitive region of Nebraska. The decision has been described as a “victory for environmental groups,” many of which have been highly vocal in their opposition to the proposed pipeline. The decision drew criticism from oil industry representatives and unions, who had argued that the pipeline “will create thousands of jobs… [more]
View InsightA Call to Action: Executive Summary by Herschel Specter President, RBR Consultants, Inc. mhspecter@verizon.net This report is a call to action, and it presents a multi-faceted national energy plan that would address the twin threats of petroleum usage and climate change that pose severe, imminent risk to the U.S. economy, environment and national security. It lays out specific goals and actionable approaches – both low-tech and high-tech – that would allow America to avert this looming crisis. By 2036, implementation of this plan should lead to over $11 trillion (2008) dollars in savings through reduced oil consumption and to the… [more]
View InsightTranscript: “Economics of America’s Oil Dependence” Opening Remarks: WILLIAM SQUADRON, President, OurEnergyPolicy.org REPRESENTATIVE PETER WELCH (D VT), Co Chair, Congressional Peak Oil Caucus REPRESENTATIVE ROSCOE BARTLETT (R MD), Co Chair Congressional Peak Oil Caucus Panel Speakers: THE HONORABLE J. BENNETT JOHNSTON, Retired U.S. Senator from Louisiana; Chairman, Johnston & Associates ROGER BEZDEK, President, Management Information Services, Inc.; Co Author, The Impending World Energy Mess EYAL ARONOFF, Co Founder, Quest Software; Member, Set America Free Coalition Moderator: YOSSIE HOLLANDER, Founder and Chairman, OurEnergyPolicy.org
View Insight[Note: The statements below are intended solely to stimulate discussion among the Expert community, and do not represent the position of OurEnergyPolicy.org. Text in italics indicates clarification or expansion.] We should expand drilling for natural gas in areas where it can be transported via a pipeline to the US. The primary uses of natural gas should be reserved to: Electricity generation — cleaner and reduced GHG compared to today’s coal. It is also the best solution for peak demand. The most important role of natural gas in the U.S. energy policy is to offset instabilities in power generation by… [more]
View Insight[Note: The statements below are intended solely to stimulate discussion among the Expert community, and do not represent the position of OurEnergyPolicy.org. Text in italics indicates clarification or expansion.] The main issue here is hedging our bets and securing our oil supply in case of a global war on resources. Why do we need to hedge? We cannot “drill” our way out of the oil problem. Relying on drilling as a solution is like placing a coin bet on the life of our children. It is too risky. We cannot be sure that our policy to move away from oil… [more]
View Insight[Note: The statements below are intended solely to stimulate discussion among the Expert community, and do not represent the position of OurEnergyPolicy.org. Text in italics indicates clarification or expansion.] An analysis of the current status shows that hydrogen powered cars, generation infrastructure and delivery infrastructure; all at competitive prices to other solutions are 20 years away under the best of circumstances. In any case, an affordable and efficient electric battery car will be available at least 10 years ahead of that and it will not require infrastructure changes. The hydrogen (fuel cell) car simply lost the race to the market.… [more]
View Insight[Note: The statements below are intended solely to stimulate discussion among the Expert community, and do not represent the position of OurEnergyPolicy.org. Text in italics indicates clarification or expansion.] The shift towards natural gas powered vehicles should not be encouraged by any government regulation. This is a tough strategic choice with many pros and cons. Pros The Peak in natural gas is also “around the corner”. There is no point in strategically shifting our transportation sector right into the next peak crisis. The price of natural gas is tied to oil and shifting transportation from oil to natural gas… [more]
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