This particular chapter takes a more detailed look at the various oil demand projections by comparing each organisation’s take on the main economic forces that shape their final numbers. Despite the huge uncertainty, there is near universal agreement on some of these forces. But opinion is divided on the biggest question of all – will supply be able to meet demand.
Posts tagged "GDP"
Peak Oil Files – 3 – In High Demand
This chapter attempts to cover the last 150 years of oil consumption with the aim of discovering the main economic forces that have helped shape how and where oil is used today. By understanding these forces we can begin to understand how future oil demand will unfold.
Peak Oil Files – 1 – The Importance of Oil
This is the first chapter in an in depth, multi part, info-graphic based series that attempts to explain all the ins and outs of peak oil, why it is inevitable and what is likely to happen in the coming years. It is intended to be much like a book with separate, complimentary chapters that help properly educate people on all the ideas and issues surrounding the topic so that whoever watches will have a good enough understanding to be able to make some sensible decisions/comments. The emphasis is on “properly educate”, I want to help create a definitive guide that people can turn to when they want to learn about this incredibly important issue.
This particular chapter attempts to explain why oil is the lifeblood of today’s modern economy and how any major fluctuations in oil price can expose the many inherent weaknesses in this globalised system that feeds, clothes and houses us.
The Great Disruption – Paul Gilding
I finished reading Paul Gilding’s book The Great Disruption earlier today and I believe it is the most important book I have read since Tim Flannery’s The Weather Makers and would heartily recommend both. In the absence of the book I have found a video of a 30 min talk Paul gave to the World Affairs Council (with another 35 mins of Q&A). Or you can view the abridged 16 min version at the bottom.
The main ideas of the book are that the environmental movement has failed to cause a cultural change that will enable us to take pre-emptive action and avoid the serious impacts of climate change and resource depletion. Despite decades of effort, the world is still in denial. But when looking at human psychology and serious world events this is not actually surprising. As Paul argues – we are slow, but not stupid. The obvious prior example is World War II. Hitler and the stirring of Germany was not a new idea when war was declared in 1939. Prior to that there was much denial about the real threat of Germany, most notably the political policy of appeasement. But once war was declared things changed remarkably quickly and policies and achievements that seemed impossible before all of a sudden happened. Paul believes we are in much the same situation and it will take a great deal of climate pain for the world to wake up from its state of denial. Once this happens the world will go to war decarbonising our economies and it will happen at a pace that seems incomprehensible now. Paul argues that this will happen because there is no other choice. This is the key problem now, there is a choice.
But the story doesn’t end there. Paul argues that the climate problem is not the base problem, but the symptom of a much larger issue – the worldwide pursuit of endless economic growth on a finite planet. The economic model on which we base our societies is flawed and at some point needs to change to a steady state economy. Again this is not a new idea, it was acknowledged my many of the fathers of economics. But listening to politicians of today, the mantra of growth is so firmly embedded in our attitudes that it will take many years of failed growth for the idea that we have reached our planetary limits to sink in. While the transition will likely be unpleasant, the destination of an economy that has limits on the resources it uses and the pollution it produces is a positive one. It will mean a redistribution of wealth and a more equitable society. Despite the commonly held view that more money equals happiness (true only if it pulls you out of poverty), research shows that more equitable societies are much healthier societies. It could mean that advances in productivity translates into less time working.
One can argue that the book has a slightly optimistic outcome, one where we are successful in meeting the climate challenge. We could fail, just a few different decisions taken in WWII might of resulted in the citizens of the UK saluting the Fatherland. It does gloss over the difficulties to come. But (again as Paul touches on) if we are to be successful in meeting the upcoming challenges we will have to be outwardly positive and optimistic even if we sometimes inwardly doubt ourselves. It is equally incorrect to assume that society will just collapse without a fight and we are often pessimistic of what we can achieve when we really put our minds to it.
Where the truth lies I don’t know, but this book has articulated many of the feelings I have on where the world is at. You can argue about the details but the underlying ideas in the book are spot on. It is an important book as it has helped me come to the realisation that those of us not in denial need to spend less time fighting those that are (as the evidence will become overwhelming) and more time preparing for the great disruption.
I urge you to buy the book The Great Disruption. The link goes to amazon so you have the most amount of reviews to read, but please try and buy from your local bookstore (unless you have a kindle/ipad).
China, Climate Change, Climate Destabilisation, Climate Science, Economics, Economy, environment, fossil fuel, GDP, Global Warming, Growth, Paul Gilding, population, Renewables, sustainability, VideoCSIS – IEA Medium Term Oil & Gas Market
I would of liked to be able to post the 2011 version of this up but every version of CSIS.org recording of the event (youtube, www.csis.org, itunes) seems to end after 7 mins. Still the 2010 version is quite similar and should give you a decent summary of the shorter term issues and what is in the pipeline for oil and gas at the moment.
Check out the csis.org page on the event for the slides that accompany the presentations.
CSIS – International Energy Agency WEO 2010 Summary
Definitely worth a watch. The big boys from the IEA give their take on the very important annual World Energy Outlook report which was released November 2010.
Click the link for the csis.org page detailing the event, the speakers and the slides that go with the presentations.
America’s Debt Problem
Another Vlogbrothers quick-fire diatribe in which John discusses the U.S. public debt, our dangerously high debt to GDP ratio, the S&P’s downgrade of America’s credit rating, and why our debt may not be as unmanageable as it seems. There’s also some general discussion of economics, currency, the gold standard, and the worldwide financial system’s dependence of the American dollar.