It's getting Hot in Here

So take off all you knows.

I don't have to search for oil and energy stories these days - you can't move for them. Israel's actions in Lebanon have provided the latest ostensible reason why oil prices have increased, which even if true - only reflects how tight supply is.

Europe's super heated days not only seem to tell a global warming story but have sent wholseale electricity prices spiralling - and given further indication of how tight the global energy system may be. Fridges and fans and air-con have sent demand right up and the power companies are struggling to maintain supply - France (the great avatar of energy independence, based on its nuclear stations) imported electricty from Italy. The severe heat apparently compelled France's energy company, EDF, to lessen electricity generation at some of its nuclear power stations, as the coolant water it draws on was too hot.

At the ASPO conference currently running in Pisa , Chris Skrebowski, the editor of Petroleum Review gave his latest prediction as to the date of oil peaking. He said: “We have 1,500 days until peak and tomorrow we’ll have one day less.” (that was said on the 18th July, so as of today its 1,498 days by his reckoning). On a further cheery note, at the same conference, Dennis Meadows (one of the authors of Limits to Growth) told the audience: “We have already overshot. Collapse is not inevitable but it will very tough to avoid.”

I've got a new poem over at Rubedo:
Rubedo: Post War Dividend