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.

Read more »

New Zealand Government's Oil Price Projections - A Bad Joke?

The Ministry of Economic Developments oil price estimates are a very bad joke. It is a joke on all of us however, as their grossly optimistic projections underpin government policy not just for energy but for the broader economy.

Read more »

New Zealand Joins Peak Oil Club - IEA

The International Energy Agency has published it's “New Zealand Energy Review 2010" which confirms that New Zealand's oil and gas production has peaked and will enter a period of rapid decline. This was exactly the conclusion I reached in my earlier posts in January 2011 regarding the Venture Taranaki report, and the presentation by Dr Peter Crabtree of the Ministry of Economic Development to the Petroleum Conference in November 2010

Read more »

Government’s Energy Strategy -- Grade F for Fail

The government has mistakenly released its Draft Energy Strategy, which is still to be signed off by Cabinet. Despite hundreds of public submissions it remains almost word for word identical with the version published in July 2010.

Read more »