The cost of Modi’s US Visit: Rs. 2.8 lakh cr for a “dying” technology and “obsolete” reactors

Prabir Purkayastha writes: The US, after a brief flirtation with nuclear energy, has pretty much decided not to invest any further in this technology. India is helping to revive a patient – the US nuclear industry – which has one foot already in the grave, at a cost of a whopping Rs. 2.8 lakh crore!
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How sustainable and viable are solar photovoltaic systems? A debate

Post the Paris climate agreement, the world looks to solar energy more than ever to reduce carbon emissions and counter climate change, with multi-billion dollar solar programmes announced by just about every major country. But just how environmentally viable, and efficient is the celebrated solar photovoltaic technology?
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Like an epic novel: How the global energy transition unfolded this April

Jeremy Leggett writes: A Saudi Prince talks of his nation’s “dangerous addiction” to oil. A Bloomberg guru talks of renewables “crushing” fossil fuels. Arguably the most successful entrepreneur ever turns the unveiling of an electric car into the most successful product launch in history. Plus much more that would have been unimaginable a year ago.
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World Oil Yearly Production Charts

Ron Patterson, Peak Oil Barrel

The EIA publishes World C+C Annual Production as part of its International Energy Statistics. The data goes back to 1980 and includes OPEC countries as well as Non-OPEC. I have plotted annual production for the 37 largest producers plus one titled “Other” which is the sum of all the other small producers not plotted. I have also included annual charts for World, OPEC, Non-OPEC plus a couple of others.

Most of the charts are non-zero based because I chose to empathize production change over total production. Non-OPEC charts are shown first. If a country had no production in 1980 then the data starts the first year of production. All chart data is thousand barrels per day.

A World Read more…

Where did all the oil go? The peak is back

Nafeez Ahmed writes: An extensive new analysis says that proved conventional oil reserves as detailed in industry sources are likely “overstated” by half. According to standard sources, the world contains 1.7 trillion barrels of proved conventional reserves. However, according to the new study, this official figure is almost double the real size of world reserves.

 exxon

Nafeez Ahmed, Middle East Eye

An extensive new scientific analysis published in Wiley Interdisciplinary Reviews: Energy & Environment says that proved conventional oil reserves as detailed in industry sources are likely “overstated” by half.

According to standard sources like the Oil & Gas Journal, BP’s Annual Statistical Review of World Energy, and the US Energy Information Administration, the world contains 1.7 trillion barrels of proved conventional reserves.

However, according to the new study by Professor Michael Jefferson of the ESCP Europe Business School, a former chief economist at oil major Royal Dutch/Shell Group, this official figure which has helped justify massive investments in new exploration and development, is almost double the real size of world reserves. Read more…

Our economic growth system is reaching limits in a strange way

Gail Tverberg writes: We are experiencing a world economy that seems to be reaching limits, but the symptoms are not what peak oil groups warned about. Instead of high prices and lack of supply, we are facing indirect problems brought on by our high consumption of energy products. I have called it a double pump problem.

Gail Tverberg

Economic growth never seems to be as high as those making forecasts would like it to be. This is a record of recent forecasts by the International Monetary Fund:

Figure 1. World GDP Forecasts by the International Monetary Fund.

Figure 1. World GDP Forecasts by the International Monetary Fund.

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Gail Tverberg: Globalization is reaching its limits; here’s why

We have identified two different limits to globalization. One has to do with limits on the amount of goods and services that developed countries can absorb before those imports unduly disrupt local economies. The other occurs because of the sensitivity of many developing nations to low commodity prices, because they are exporters of these commodities.

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Global capitalism is facing three tipping points

In this article, Sagar Dhara examines Capitalism’s crucial tipping points: The first, the impending energy and natural resource crisis, related to the sourcing of raw materials. The second, inequality, related to the production of goods and services. The third, global warming, which is related to greenhouse gas emissions (GHGs) in excess of the earth’s sink capacity.

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Industrial civilisation can’t wean itself off fossil fuels painlessly

Chris Martenson writes: The data seems to confirm this: Humanity is not going to painlessly wean itself off of fossil fuels. Instead, we will hit some sort of a wall: a food/population crisis, a climate crisis, or a debt/fiscal/economic crisis.  Each of those candidates has its roots in our global society’s addition to fossil fuels.

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Why is India importing US nuclear reactors that even the US doesn’t want?

Nityanand Jayaraman writes: A new report warns that India’s plans to import 12 nuclear reactors from ailing American  equipment suppliers is financially fraught and irrelevant for India’s electricity needs. If built, the reactors will cost anywhere between Rs 6.3 lakh crore and Rs 11 lakh crore, thereby translating to unaffordable and obscenely high electricity tariffs.

The deals have more to do with the financial well-being of US equipment suppliers than with the aspirations of India’s electricity consumers.
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