Only The Good Oil News

Radio New Zealand has broadcast a news item which typifies the pathological optimism of our media when reporting New Zealand's oil supply.

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Peak Oil’s Economic Pain Is Trumps

Oil’s tipping point has passed, and the economic pain of a flattening supply will trump the environment as a reason to curb the use of fossil fuels, say James Murray and David King, in an article just published in the prestigious journal Nature.

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Australian government tries to hide its own peak oil report

The Daily Telegraph has revealed how the Australian government has attempted to suppress its own report on peak oil. The response from the New Zealand government had been equally secretive and obfuscating.

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Will the onset of energy descent force NZ into a steady state economy?

 I wish to share this excellent article by Jack Santa Barbara of Nelson. He explores NZ's unique postion in a world facing an impending energy descent, and asks whether NZ could be the first nation to have a steady state economy.  Full article here

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This does not compute

The International Energy Agency has again warned that the high oil price could strangle hopes for a global economic recovery. It also says that 90% of future growth in oil production has to come from the Mid-East, mostly from Saudi Arabia. Without a $100 billion annual investment in that region, oil prices will exceed $150 a barrel. But Saudi Arabia has just announced it is halting its $100 billion oil expansion program? This does not compute.

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NZ Election 2011 - Praying to the Growth Fairy

I had thought that my next post would be on the surreal lack of policy from any of the political parties in the Election addressing resource depletion and their collective failure to face the reality that "economic growth" is not returning.

Before I could get around to it I read this excellent post from James Henderson at "The Standard", and so I am re-posting it here. 

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Election 2011 Two-facedness - Saving money good - saving fuel bad

All of the political parties agree New Zealand needs a long-term savings and investment plan . These elections there have been major policy announcements on Kiwisaver, reducing debt and the age of eligibility for National Superannuation. Saving money good.

But when confronted with arguably a more serious and immediate threat to New Zealand's economy, national well-being and security -- namely our dangerous exposure to oil price shocks, and oil supply disruptions and shortages, - all the main parties fail to articulate a coherent long-term plan to lower our dependence on ever more expensive imported oil. Saving fuel bad.

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