Judging by the headlines last week, Britain was well on its way to an oil-powered future. The discovery of what may or may not be a billion barrel field was presented as the start of a new golden age for an oil industry that displays all of the hallmarks of …
Read More »Three quarters of UK shale gas cannot be recovered
Human geography and planning considerations will prevent 75 percent of the UK’s shale gas from ever reaching the surface according to a new study in the journal Science of The Total Environment (see also presentation slides): “Estimates of shale gas recoverable reserves have not considered the carrying capacity of the …
Read More »The dark shadow that still haunts banking
The digital economy has largely been welcomed as a “disruptive force,” obliging old fashioned businesses to compete for custom with new lean internet companies like Uber and Google. But disruptive businesses in banking may not be the positive development intended. As Leonid Bershidsky at Bloomberg points out: “In a rivalry …
Read More »Blame Brexit on the reality of the “fourth industrial revolution”
The so-called fourth industrial revolution (aka the gig economy) was supposed to result in a shiny new future in which a new class of youthful digital entrepreneurs generated prosperous jobs for all. In reality, the digital economy created a climate of fear and insecurity at the bottom of the British labour …
Read More »That Scottish oil discovery in context
Earlier this week the Hurricane Energy discovery of “up to a billion barrels” of oil in the North Sea was reported as some kind of energy miracle. After 17 years of severe production declines, Scottish oil is back. Suddenly IndyRef2 looks far more likely to deliver a vote for Scottish …
Read More »Is it time for an alternative energy strategy?
While media attention was focused on the economic consequences of triggering Article 50 of the Lisbon Treaty, the UK economy quietly suffered a far greater shock. Tucked away in the business pages was the news that Toshiba is placing its Westinghouse US nuclear unit into bankruptcy protection. At face value, …
Read More »Ice melt and sea level rise accelerate
Polar weather events earlier this year have contributed to the lowest Arctic winter ice maximum since records began. At the same time, Antarctica has the lowest summer sea ice ever recorded. According to Maria-José Viñas from NASA’s Earth Science News Team: “This winter, a combination of warmer-than-average temperatures, winds unfavorable to …
Read More »Electric cars will not save the day
We won’t be getting our shiny new electric cars anytime soon, according to Cuneyt Kazokoglu in the Financial Times: “The popular claim that a surge in electric cars will hasten the arrival of peak oil demand is undermined by the data. “The majority of the world’s cars will remain powered …
Read More »Renewable Germany not so green after all
Germany is the poster child for renewable electricity. Its rapid deployment of vast arrays of Chinese wind turbines has propelled it to the top of the European green energy league table. But the German claim to be leading the way on clean energy hides a dark secret… German carbon dioxide …
Read More »UK energy predicament deepens
New government energy projections show Britain running out of energy before new capacity can be brought on stream. Most obviously, coal generation is due to be phased out by 2022. Less obviously, the government is projecting that its favoured gas generation is expected to fall significantly in 2017 and to …
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