 ASPO-Australia was formally launched on 21st November in Perth by Prof. Kjell Aleklett, president of ASPO International at the RAC(WA) media room. This was followed in the evening by a well-attended public lecture on Peak Oil at the University of Western Australia. This event was hosted by the Institute of Advanced Studies and the Sustainable Transport Coalition. Prof. Aleklett's powerpoint slides from the UWA lecture are here and the audio recording of the lecture is here.Prof Aleklett also addressed an Australian Institute of Energy luncheon (23 Nov). His presentation is available from the AIENews items relating to Kjell Alekletts visit: No technological fix for falling oil stocksOil prices surge overnight (Aleklett interview)Further items can be found on Energyreview.net and in the Australian Financial Review (Monday) which are both subscription only. |
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Real Oil Crisis - ABC TV Thursday, November 24 - 8:00pm
UPDATE: Transcript and streaming video of show now available
What would happen if the world were to start running out of oil?
Conventional wisdom says we’ve got 30 years, but there’s a growing fear
amongst petroleum experts it’s happening much sooner than we thought –
that we are hitting the beginning of the end of oil now. So how soon
will the oil run out, and can we stop our economy collapsing when it
does? How prepared are we for the real oil crisis?
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Beijing was busy this October. It not only hosted a meeting of the 5th
Plenum of the Communist Party, but down the highway at Grand Epoch
City, an ersatz replica of old Beijing, the G20 finance ministers were
also in conference. Both discussed growth and oil prices and the worry
they posed, but at the G20 Dr Ibrahim Abdulaziz al-Assaf told the
assembled dignitaries that Aramco would act to stabilise oil prices.
This was welcome news as a day earlier at the Plenum delegates were
told that China’s GDP would double by 2010.
But while our Treasurer returned from Grand Epoch City with a spring in
his step to tell us he had the good word from Dr al-Assaf, he may not
have noticed that the Saudi finance minister spoke of greater
“capacity” - not greater oil production. At first sight there seems to
be no difference- extra capacity must lead to more barrels.
Unfortunately in the opaque world of Saudi oil, that’s not necessarily
the case. |
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The November feature topic of Online Opinion is Oils not well - life
after petrol. So far 8 articles have been posted including
contributions from journalists, academics and others with an interest
in the issue (including Chris "Feral Metallurgist" Shaw and myself).
Other articles will be posted later in the month and registered users
of the Online Opinion site can get stuck into the debate in the
comments section.
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It is fashionable for institutional investors to be putting funds
(our superannuation) into "infrastructure". I have heard this defined
as "toll roads, airports and power stations". Indeed, a Sunday paper
recently recommended a major successful toll-road company as a
"low-risk" investment. However, I would greatly prefer my super fund to
get out of investments in toll roads and airports, soon.
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