Wednesday, April 16, 2008

Russian oil production: could it have peaked already?

An article in the Wall Street Journal on Tuesday April 15, front page in print, vy Guy Chazan and Neil King, Jr., “Russian Oil Slump Stirs Supply Jitters: Production Decline First in 10 Years: Squeeze in Siberia,” link here(may require registration or subscription) highlights concerns that oil discovery and then oil production can go into decline. This may help explain some of the recent runup in oil futures, as well as gasoline prices. The International Energy Agency has predicted that production will resume later. The web link is this, and Russia is actually not a member of OECD in using this site.

The problem of oil production peaks is presented in the 2007 Netflix Red Envelope film “A Crude Awakening” directed by Basil Gelpke and Ray McCormack. Associated with that is a website World Without Oil which has a seven-minute video about an “alternate reality game” in which people practice living without petroleum and blog or make videos about their experience (it reminds me of the PBS “1900 House”). Of course, they do need a high tech communications infrastructure running without oil (solar power or wind) and made with products that don’t use petroleum (less likely). WWO has a "lesson plans for teachers" link.

Picture (unrelated): “The Jolly Green Giant” trademark character (Green Giant Food Company from Blue Earth, MN) from USPTO show.

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