oil

The cost of the status quo

We keep being told how much it will cost us to leave fossil fuels behind. Here’s a little story about how much it will cost us to remain hooked: “According to normal economic theory, and the history of oil, rising prices have two major effects,” said Fatih Birol, the chief economist at the International Energy […]

An interview with The ‘Stache pre-pie-in-the-face

Yes, Tom Friedman came to Brown University on Earth Day to unveil his new book and got hit by a pie.

But he cleaned himself up, came back with a joke about surviving Beirut and Jerusalem but running into trouble in Providence, and went on to deliver a stem-winder of an address for an op-ed columnist essentially outlining his latest book.

I found The World Is Flat to be a good window into business models in the 21st century. His new offering, Hot, Flat, and Crowded: Why We Need a Green Revolution -- and How It Can Renew America, promises to be a cogent lassoing and explication of many of the biggest things that matter in the 21st century. Friedman chooses as the crucial drivers: energy supply and demand, climate, the spread of democracy versus petro-authoritarianism, biodiversity, and energy poverty.

A few bits from Friedman's speech to look forward to in Hot, Flat, and Crowded and when he returns to columns this month:

• The McCain gas tax holiday: A "dumb as we want to be" approach to energy policy.
• On high oil prices and petro-dictatorship: With oil at $25 per barrel, Bush looked into Putin's eyes and saw his soul. At $100 per barrel, look into Putin's eyes and you'll see "all the instruments of democracy he's swallowed."
• Did Reagan bring down the USSR -- or was it the decline in oil prices from $80 per barrel to $14.50?
• And finally, China as the Speed bus, except that it must switch from a diesel to a hybrid engine without going below 50 miles an hour. (That's the first thing since The Matrix that makes you aspire to be Keanu Reeves, isn't it?)

Before his speech, I had the chance to catch up with Friedman and ask him a few questions. The short interview is below:

American Petroleum Institute ad promotes climate catastrophe

Originally posted at the Think Progress Wonk Room.

The American Petroleum Institute, the trade organization for the oil and natural gas industry, has just begun running a feel-good commercial that argues "America's future" lies in drilling out domestic reserves of oil and natural gas. Here's what the ad says:

Oil and natural gas powered the past. But the future? Fact is, a growing world will require more. 45 percent more by 2030, along with greatly expanding alternatives. We have substantial oil and natural gas resources right here. Enough to power 60 million cars and heat 160 million households for 60 years. With advanced technology and smart policies, together we can secure America's future. Log on to learn more. [Text: EnergyTomorrow.org / The People of America's Oil and Natural Gas Industry]

Watch it:

The "facts" in Big Oil's ad are based on a 36-page API document [PDF] entitled "The Truth About Oil and Gasoline." This "primer" was published last week, with numerous figures and charts on oil company profits and gas prices, but nary a single mention of climate change or greenhouse gas emissions. Here are the facts Big Oil left out:

What is the impact of peak oil and peak coal?

The goal of this post is to explore how peak oil and, yes, peak coal might affect the world's effort to stabilize CO2 concentrations. Here I present calculations I haven't seen anywhere else, and since different sources provide different numbers, please view these as a crude estimates. I welcome corrections.

At recent growth rates for oil consumption, we are all but certain to peak in oil production within two decades -- and if we follow the recent trend-line for coal use (and for coal reserves), we could hit peak coal within three decades. It looks like it simply isn't possible for oil and coal use to sustain for decades the trends that led CO2 emissions to rise 3 percent per year since 2000, if the analysis below is roughly correct. That would be a very good piece of news.

Oil: I have already written at length on oil (see "Peak Oil? Bring it on!"). In 2006, the world consumed about 85 million barrels a day (MMBD) of oil. Oil use had been rising about 2 percent per year, though the recent price jump may have slowed things a tad. And, for the first time, not just the "peakists" but the CEOs of major oil companies think we have a big problem.

Shai Agassi talks electric cars in Israel

I’m watching Shai Agassi, founder and CEO of Project Better Place, talk about the scheme he put together to fill Israel with electrical cars and recharging stations, with the ultimate goal of eliminating oil as a transportation fuel in the country. (He’s going to do it in Denmark as well.) (A side note: this meeting […]

Let’s rebuild our national rail network instead of repealing the gas tax

At the rate things are going, any money that would be available for global warming mitigation is going to go into subsidizing the oil used by airplanes, trucks, cars, and heating oil so that most Americans do not become hysterical -- or am I being hysterical? From Michael T. Klare's latest article:

We need to be freed from gas, not the gas tax

John McCain’s proposal to institute a gas tax “holiday” during the summer driving season is as clear an example of a pander as one is likely to see during election season, but its inclusion in a major economic policy speech suggests that this is no easily ignorable one-off. As Joseph Romm notes, any hope progressives […]

McCain’s gas tax holiday from reality

John McCain has a brilliant, original idea: Let's encourage Americans to drive more by lifting the gas tax for a summer "holiday."

Presumably it's the same principle as the "surge" in Iraq: so many soldiers are getting killed, let's send even more!

Here are some guaranteed effects from McCain's brainstorm. It would:

• Deepen the federal deficit, thereby weakening the dollar.
• Increase gasoline consumption, in one stroke worsening highway gridlock, compounding U.S. oil dependence, and speeding up global warming.
• Transfer what used to be tax revenue -- potentially usable for public benefit -- to the oil companies and the Saudis by pushing up oil demand.

Terrific, eh? McCain could drive to a gas station, perhaps in a jumpsuit with a padded crotch, stand surrounded by Uzi-toting Blackwater thugs while a parade of Hummers top off their tanks, and proclaim Surge II a success.

Chevron runs ad attacking Goldman Prize winner

I attended the Goldman Prize presentation last night, and it was, per usual, a spectacular celebration of uncommonly dedicated individuals working to make this world a better place. The stories of their struggles and triumphs wetted every eye in the house, and they serve as a beacon of inspiration to all who care about the future of planet Earth.

Unless you are Chevron.

This morning, Chevron ran a full-page ad in the San Francisco Chronicle attacking one of the recipients, Pablo Fajarado. "Mr. Fajarado is a front man for a group of Ecuadorian and American trail lawyers pursuing a claim against Chevron."

No! Not trial lawyers! Chevron would prefer that anyone bringing suit against them be represented by fishmongers, not trial laywers. Or something.

I've met those trial lawyers -- and they are, as you might expect, incredibly overworked and underpaid individuals doing this work not for love of lucre but desire for justice. And, if I may project some of my own feelings at this very moment, righteous anger against asshole oil companies.

The rest of the ad is unforgivable character assassination and innuendo.