Three Major Journals Publish Articles on Limited World Oil Supply

In the past month, three major peer-reviewed journals have published articles relating to limited world oil supply:

  1. In Science, Technology is Turning U. S. Oil Around But Not the World’s, by Richard A. Kerr;
  2. In Nature, Climate Policy: Oil’s Tipping Point has Passed, by James Murray and David King; and
  3. In Energy, Oil Supply Limits and the Continuing Financial Crisis, by Gail Tverberg.

The fact that these articles have been published is significant, because articles in the  mainstream press, such as Bloomberg’s recent article, Peak Oil Scare Fades as Shale Deepwater Wells Gush Crude, seem to suggest that our oil problems are past. While the US oil supply situation may be a little better, the world supply situation is still very bad, and oil prices are still very high around the world.

Furthermore, high oil prices tend to have a recessionary effect, and can lead to debt defaults. These issues are described in both the second and third articles above. Thus, there is a substantial chance that high oil prices are contributing to the debt default problem in Europe, and to forecast low world economic growth.

In this post, I briefly describe these articles. Continue reading

‘Oil Supply Limits and the Continuing Financial Crisis’ paper available free

I was an invited speaker at the “7th Biennial International Workshop ‘Advances in Energy Studies,'” in Barcelona, Spain in October 2010. Afterward, I wrote a peer-reviewed academic paper related to my talk called, “Oil Supply Limits and the Continuing Financial Crisis.” It now has been published in the January issue of Energy. It is available free at this link (probably temporarily).  The rest of the articles are also available free. A complete listing of articles in the January issue can be found here. Downloading the article from that list is an alternate approach, if you cannot get the direct link to work. Continue reading