Observing the renewable energy transition from a European perspective

Archive for the month “September, 2015”

Turkish Stream Postponed Indefinately


The gas pipe-line project Turkish Stream, proposed on the 1st December 2014 by President Vladimir Putin and accepted by his Turkish opposite number, Recep Tayyip Erdo─čan, has been suspended indefinitely.

Turkish sources indicate that the suspension may be the result of a disagreement about the amount of the tariff reductions awarded by Russia.

Excellent news! Opens up new possibilities for Bulgaria to rise to European prominence by defying Brussels and their US overlords and build South-Stream regardless.

[] – The Turkish Stream project is suspended


[deepresource] – Gabriel Hopes South Stream Will Be Built Eventually
[deepresource] – EU Backpedaling on South Stream
[deepresource] – Hungary Presses for Construction of South Stream
[deepresource] – McCain Visits Bulgaria


Goldman-Sachs: Global Peak Coal Was 2013


Wow, that doesn’t happen too often: we’re being out-doomed by none other than Goldman-Sachs. The always sympathetic bankers guild has issued a statement saying that not everything is kosher in energy land and that the world is already past peak coal.

We’re shocked. According to our ‘moderate doomer’ wisdom, peak oil is about now, peak natural gas perhaps in 2025 and peak coal somewhere after 2030.

No such luck.

[] – Goldman makes case for ‘peak coal’
[deepresource] – Richard Heinberg, Blackout

P.S. we are not 100% convinced this is true, not even close. Technology is a major wild card, making predictions unreliable.

[deepresource] – Fracking is for Amateurs

Cars Don’t Belong in the City

More Signs That 2015-2016 Will be Global Peak-Oil


Even representatives of the oil industry have to admit:

In a world where oil prices are expected to average just $50-$70 per barrel over the next few years, actual decline rates could easily reach 3 percent or even 4 percent per year. Under a range of plausible assumptions, decline rates could easily cut between 1.4 million and 3.6 million bpd from the output of existing fields in 2016 and again in 2017.

Peak oil finally arrived with a decade delay, due to fracking.

[] – Kemp: Decline Rates Will Ensure Oil Output Falls in 2016
[deepresource] – Kjell Aleklett Update: Peak Oil = 2015-2016

Richard Heinberg, kom er maar in.

Greater European Natural Gas Pipeline System


Peak Oil Europe Was 2005


It is semi-official: Europe is clearly beyond the oil peak and demand is in strong decline from 14 mbd in 2005 to 11.5 mbd in 2014. This rapid demand destruction could help explain why oil prices collapsed recently: European demand destruction supersedes oil depletion. Drivers behind this development: rapid introduction of renewable energy sources as well as rigorous energy saving measures, like switching to more fuel efficient cars. And of course the steep decline after the western financial crisis of 2008 (Lehman, ‘subprime’ US debt).

[] – Europe oil consumption peaked 2005

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