Tag Archives: peak oil

The centre of balance in the global economy has shifted east.  While the USA (for the time being) consumes the most oil, China has emerged as the biggest importer.  It is also the world’s largest coal and renewable electricity consumer.  The reason, in short, is that since the 1980s, western …

When an oil deposit of just a billion barrels becomes headline news, you know there’s trouble ahead.  Why?  Because it tells you that all of the large reserves have gone.  We are now drilling into the small, hard to recover deposits that require a large investment for very little return.  …