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Oil crisis news from ABC radio |
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Thursday, 11 May 2006 |
Two interesting oil crisis related items from ABC radio (audio courtesy of sydneypeakoil.com ):
The first item draws a parallels and distinctions between the current oil crisis and the political oil shocks of the 70's. It features interviews with Chris Skrebowski of ODAC and Colin Campbell of ASPO Ireland .
The Oil Crisis of 1973 6:20am - Monday 8 May 2006
The second item looks at the declining state of Australia's oil production drawing on the APPEA issues paper presented at APPEA's Queensland conference. Issues raised include energy security and logistics bottlenecks holding up new exploration. Reg Nelson from APPEA puts a positive spin on Australian oil exploration potential - though if our frontier areas are so attractive one wonders why oil companies, currently flush with cash, are not already checking them out.
Australian oil production 6:35am – Tuesday 9 May 2006
The full blurb on the two audio items:
The Oil Crisis of 1973 6:20am - Monday 8 May 2006
Oil prices are already stretched to record highs, hovering around US $70 a barrel. With so little spare capacity in the world, that isn't going to change any time soon.
The record-breaking oil price rise resonates with those who can remember the first Oil Crisis in 1973. As Keri Phillips reports, that's when oil went from around three dollars a barrel to twelve dollars, in a matter of months
Australian oil production 6:35am – Tuesday 9 May 2006
The low oil prices of the 1990s may have been good for motorists, but it's created a 'lost generation' of personnel and investment in the Australian oil industry. Over the past 10 years, Australia has slipped from more than 80% self-sufficiency in oil to around 60%. And by 2015, without major new discoveries that figure could fall as low as 20%.
They're the sobering predictions from an industry issues paper released yesterday at the annual conference of the Australian Petroleum Production and Exploration Association (APPEA).
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