Last week we looked at the shocking discovery that the EIA’s International Energy Outlook 2001 was completely wrong in it’s analysis of some major oil provinces, worrying since it seems some people, even governments, actually believe these guys know what they are talking about and use their forecasts to develop policy. Now it’s time […]
On Wednesday 23rd I attended the Oil Supply Summit at the Palace of Westminster chaired by John Hemming MP. The meeting was attended by representatives from the Chemical Industries Association (CIA), National Farmers Union (NFU), Energy Institute (EI), Ofgem, New Energy Foundation (NEF) and Powerswitch with the aim to review the fossil fuel situation […]
Peak oil may be upon us but I fear the primary challenge for the UK isn’t oil but rather electricity. With rapid decommission of the aging nuclear fleet and falling extraction rates of indigenous natural gas and coal our three main sources of electricity accounting for some 95% of our electricity supply are in […]
What happens when commodities become scarce? The price increases. We have already seen highly publicised domestic gas and electricity price rises this year. Domestic heating oil has also increased dramatically though this price rise hasn’t had anywhere near the same media attention.
These prices rises were highlighted on the 29th Sept ’05 in […]
Two interesting reports have been published recently, Energy Trends from the DTI updated with 2005 Quarter 2 data and Winter Outlook Report 2005/06 from Ofgem. These two reports contain a wealth of data on the UK energy market past, present and looking forward to the winter. However I am less impressed with the […]
I would like to take a moment to talk about the UK and our gas supplies for the coming winter 2005/06. The UK could experience a shortfall in gas supplies this winter due primarily to the rapidly declining extraction rate from indigenous reserves in the North Sea and the country’s gas infrastructure which having […]
PowerSwitch held a peak oil conference on the 16th of July at the BedZed zero emission urban development in Hackbridge, London. PowerSwitch was established in Autumn 2004 with the intention of raising awareness and discussion in the UK of the consequences of global oil depletion following the imminent peak in global oil production, and […]
Now I’m not an expert in the oil futures market but I think something significant happened today. For the first time on the New York Mercantile Exchange the futures price of Light, Sweet Crude Oil was in full contango. Contango is a condition in which distant delivery prices for futures exceed spot […]