The Coming Oil Crisis & Why You Should Care

On the Financial Sense Newshour this week, Jim Puplava is pleased to have Dr. Colin Campbell on the program. Dr. Campbell, a pioneer in the field of peak oil, believes the effects of peak oil are coming sooner than expected, and the warnings from experts around the globe are largely being ignored by the politicians.

Dr. Campbell is now a Trustee of the Oil Depletion Analysis Centre ("ODAC") in the United Kingdom, a charitable organisation in London that is dedicated to researching the date and impact of the peak and decline of world oil production due to resource constraints, and raising awareness of the serious consequences. He has published extensively, and his recent articles have stimulated lively debate. His views are provocative yet carry the weight of a wide international experience.

A Brief History of Fossil Fuels - THE ULTIMATE ROLLER COASTER RIDE

THE ULTIMATE ROLLER COASTER RIDE: A Brief History of Fossil Fuels
by Richard Heinberg

Fossil fuels have powered human growth and ingenuity for centuries. Now that we're reaching the end of cheap and abundant oil and coal supplies, we're in for an exciting ride. While there's a real risk that we'll fall off a cliff, there's still time to control our transition to a post-carbon future.

And now, for your viewing and sharing pleasure we bring you 300 YEARS OF FOSSIL FUELED GROWTH IN 5 MINUTES:



Written and narrated by PCI Senior Fellow Richard Heinberg.
Animated by the wonderful team at MONSTRO DESIGN.

[via postcarbon.org]

The Next Oil Shock? - Report

The Economics and Industry Team of New Zealand Parliamentary Library has published a new research paper: The Next Oil Shock?

The Conclusion of the report

The global economy is heavily dependent on affordable oil.

It may seem counter-intuitive that, when oil reserves and production capacityare higher than ever, the future of the oil market appears bleak. The problem is that production capacity is not expected to keep up with demand. That fact leads to severe economic consequences.

To replace the declining production from existing oil wells and increase production, oil companies are forced to extract oil in more difficult and expensive conditions (deep-water, oil sands, lignite to liquids) from smaller, less favourable reserves. The marginal (price-setting) barrel of oil costs around US$75-$85 a barrel to produce. This will continue to rise with higher demand and exhaustion of reserves.

Although there remain large reserves of oil which can be extracted, the world’s daily capacity to extract oil cannot keep increasing indefinitely. A point will be reached where it is not economically and physically feasible to replace the declining production from existing wells and add new production fast enough for total production capacity to increase. Projections from the IEA and other groups have this occurring, at least temporarily, as soon as 2012.

The difference between the global capacity to produce oil and global demand is the supply buffer. When the supply buffer is large, oil prices will be low. When the supply buffer shrinks - due to demand rising faster than production capacity or production capacity falling - prices will rise as markets add in the risk that supply will not be available to meet demand at any given point in time.

When a supply crunch forces oil prices beyond a certain point, the cost of oil forces consumers and businesses to cut other spending, inducing a recession. The recession destroys demand for oil, allowing prices to drop. Major international organisations are warning of another supply crunch as soon as 2012.

The world may be entering an era defined by relatively short periods of economic growth terminating in oil price spikes and recession.

New Zealand is not immune to the consequences of this situation. In fact, its dependency on bulk exports and tourism makes New Zealand very vulnerable to oil shocks.

The End of Oil as We Know It - 2010 ASPO-USA Conference

Global Energy Experts Agree: We are Facing the End of Oil as We Know It WASHINGTON (October 12, 2010): Economists, activists, technical experts and policymakers from across the political spectrum gathered here, October 7-9, to discuss the global energy crisis. After 150 years of oil extraction; most major oil exporting nations are well past their supply peaks, defined by scientists as “Peak Oil.” At the Association for the Study of Peak Oil and Gas’ (ASPO-USA) sixth annual conference speakers offered a single, coherent picture of a world unprepared to encounter energy limits, petroleum scarcity and the inevitable—and possibly unprecedented—rise in prices. “We are on the brink of a major energy crisis,” stated Jim Baldauf, President of ASPO-USA. “The era of low-cost, easy to get oil has come to an end. Yet, our society is heavily dependent on oil and we have no contingency plan. It is our goal every year to bring together the world’s best global energy experts to grapple with solutions to this catastrophic situation and discuss the future.”

The presentation files of the 2010 World Oil Conference have been posted on the aspo-usa web site including:

• The Impending World Energy Mess Keynote Presentation by Robert L. Hirsch
• Economy & Energy by Chris Martenson
• Energy and Financial Crisis by Nicole Foss of The Automatic Earth
• The End of Investment by John Michael Greer of The Archdruid Report
• Where are we now? by André Angelantoni of postpeakliving.com
• & more
  

The Impending World Energy Mess with Robert L. Hirsch

Apogee Prime has released a series of video interviews with Robert L. Hirsch the author of the new book: The Impending World Energy Mess.

The Impending World Energy Mess with Robert L. Hirsch Pt 01


The Impending World Energy Mess with Robert L. Hirsch Pt 02


The Impending World Energy Mess with Robert L. Hirsch Pt 04


The Impending World Energy Mess with Robert L. Hirsch Pt 09


The Impending World Energy Mess with Robert L. Hirsch Pt 15


The Impending World Energy Mess with Robert L. Hirsch Pt 20


The Impending World Energy Mess with Robert L. Hirsch Pt 21

Peak Oil and the Second Great Depression

Peak Oil and the Second Great Depression (2010-2030): A Survival Guide for Investors and Savers After Peak Oil

Peak Oil is the point of maximum global oil production. In Peak Oil and the Second Great Depression (2010-2030), the author argues that the likely peak in global oil production occurred in the period 2005-2008, due to the peaking of Saudi Arabian oil production during that time. The evidence of a peak in Saudi crude oil production in 2008 is presented and discussed in some detail. The most significant piece of evidence of a Saudi peak in production in 2008 was the inability of Saudi oil ministers to increase production in the period 2005 to 2008 despite record crude oil prices and the drilling of thousands of new wells in Saudi Arabia's seven major oil fields. Because it could not increase production in the face of rising global demand, Saudi Arabia was unable to prevent a spike in the price of oil to around $150 a barrel. A dramatic economic contraction in the developed economies ensued.

In the years ahead, it is argued, continued economic growth in the developing world including China will put upward pressure on the price of oil, which will create severe economic difficulties for the indebted developed economies such as the US which rely on imported energy. The book examines the likely policy responses of American statesmen and central bankers to the economic difficulties created by very high prices for petroleum. Oil at very high and indeed painful prices in the face of already historic levels of personal and governmental indebtedness, it is argued, will create large scale unemployment on levels not seen since the (First) Great Depression as expenditures for foreign oil dramatically reduce spending available for the domestic economy.

The author argues that the policy response to the economic difficulties will be to create a general rise in the price level to reduce the burden of the existing debt on households, businesses and governmental entities. As prices, and especially wages, rise, domestic spending will recover and unemployment will be reduced, although this process could take several decades. Very significant inflation will likely be necessary to prevent an even more severe drop in employment and output in the economy than that we are already experiencing given the magnitude of the shock to the economy created by continued declines in global oil production.

The inflation thus created, as well as the other dramatic changes in the economy as a result of Peak Oil, will alter the approach that would optimally be taken by investors and those wishing to preserve savings. The issues of asset allocation and sector weighting are explored together with alternative investments in commodities and real estate. The focus is primarily on domestic equities, but a rather unusual sector weighting strategy is proposed as most likely to produce positive results during two decades that will otherwise be most disappointing for the investing public.

Peak Oil will also create opportunities for speculation which are explored in the final chapters of the book.

Listen to the related interview on FSN In Depth: Kenneth D Worth, Peak Oil and the Second Great Depression (2010-2030) by James J Puplava

The Impending World Energy Mess - Book

The Impending World Energy Mess will help educate readers about the realities of energy in general and oil in particular.

The book ranks already #6 in Business & Investing > Economics > Natural Resources

The reader will be able to cut through the smokescreens that various self interests have, and are, promulgating and understand that there are a number of credible studies that clearly demonstrate that world oil production is close to going into decline, which will create long-term world oil shortages.

The huge economic impacts associated with impending oil shortages are brought into sober, balanced perspective and readers are given tools to minimize the impending negative impacts on their personal lives.

Finally, The Impending World Energy Mess provides a balanced discussion of the strengths and weaknesses of a number of electric power production technologies, and in particular, the inherent weaknesses in solar and renewable technologies. The Impending World Energy Mess provides a practical basis for understanding and personal action.

Included in this book is a special Foreword from Dr James Schlesinger - First US Secretary of Energy, Director of Central Intelligence, Secretary of Defense and Chairman of the Atomic Energy Commission.

In the next five years, world oil production will begin to decline - which means less and less oil will be available each year. The result will be annually deepening worldwide economic damage.

There will be no quick fixes. Even crash program mitigation will take more than a decade to impact.

Societal priorities will change dramatically. Compromises will be required. Years of energy hopes and fantasy will have to yield to pragmatism.

Oil and energy issues are complicated. You need to understand the situation in order to make intelligent choices for yourself and those close to you.

To be forewarned is to be forearmed. With over a hundred years of combined experience in energy and economics, the authors provide you the straight story, including realities that others have been reluctant to discuss.

Check out this exclusive interview with the author Robert Hirsch by Matthieu Auzanneau:

‘Peak Oil’ : Jimmy Carter’s Secretary of Energy sounds the alarm: part 1, part 2

[via Energy Bulletin]

Book: The Post Carbon Reader

The Post Carbon Reader
Managing the 21st Century’s Sustainability Crises

Edited by Richard Heinberg and Daniel Lerch
In the 20th century, cheap and abundant energy brought previously unimaginable advances in health, wealth, and technology, and fed an explosion in population and consumption. But this growth came at an incredible cost. Climate change, peak oil, freshwater depletion, species extinction, and a host of economic and social problems now challenge us as never before. The Post Carbon Reader features articles by some of the world’s most provocative thinkers on the key drivers shaping this new century, from renewable energy and urban agriculture to social justice and systems resilience. This unprecedented collection takes a hard-nosed look at the interconnected threats of our global sustainability quandary—as well as the most promising responses. The Post Carbon Reader is a valuable resource for policymakers, college classrooms, and concerned citizens.

Table of Contents

Preface Richard Heinberg and Daniel Lerch, Editors
Foreword Asher Miller

Part I - Introduction
1. Foundation Concepts

• Richard Heinberg: "Beyond the Limits to Growth"
• Richard Heinberg: "What is Sustainability?"
• Bill Rees, "Thinking 'Resilience'"

Part II - Planet
2. Climate

• Bill McKibben, selection from Eaarth
• Richard Douthwaite, "The international response to climate change "
• Mark Sandler, SIDEBAR: "Cap and Dividend in the U.S."
• David Orr, selection from Down to the Wire

3. Water

• Sandra Postel, "Water: Adapting to a new normal"

4. Biodiversity

• Stephanie Mills, "Peak Nature?"

Part III - Civilization
5. Food

• Michael Bomford, "Energy and the food system"
• Wes Jackson, transcript from 1/25/10 presentation at Univ. of California - Berkeley
• Erika Allen, transcript from 1/24/10 conversation: "Growing community food systems"

6. Population

• Bill Ryerson, "Population: The Multiplier of Everything Else"

7. Culture & behavior

• Peter Whybrow, "Dangerously Addictive"
• Gloria Flora, "Remapping Relationships: Humans in nature"
• Bill Rees, "The Human Nature of Unsustainability"

Part IV - Modern Society
8. Energy

• Daniel Lerch, selection from Post Carbon Cities
• David Hughes, "Hydrocarbons in North America"
• David Fridley, "Nine Challenges of Alternative Energy"
• Tom Whipple, "Peak Oil and the Economy"

9. Economy

• Josh Farley, "Ecological Economics"
• Richard Douthwaite, SIDEBAR: "Money and Energy"
• Michael Shuman, "The Competitiveness of Local Living Economies"

10. Cities, towns, and suburbs

• Warren Karlenzig, "The Death of Sprawl"
• Deborah Popper and Frank Popper, "Smart Decline in Post-Carbon Cities"
• Hillary Brown, "Buildings"
• John Kaufmann "Local Government in a time of Peak Oil and Climate Change"

11. Transportation

• Richard Gilbert and Anthony Perl, "Post-carbon mobility"

12. Waste

• Bill Sheehan and Helen Spiegelman, "Climate Change, Peak Oil and the End of Waste"

13. Health

• Cindy Parker and Brian Schwartz, "Human Health and Well-Being in an Era of Energy Scarcity and Climate Change"

14. Education

• Zenobia Barlow and Michael Stone, "Smart by Nature: Schooling for Sustainability"
• Nancy Lee Wood, "Community Colleges"

Part V - Next Steps
15. Building resilience

• Chris Martenson, "Personal preparation"
• Rob Hopkins "Transitioning community"

16. Vision for a post-carbon century

• Asher Miller, "What Now? The Path Forward Begins with One Step"

Making Sense of the Financial Crisis in the Era of Peak Oil

Nicole Foss of the Automatic Earth has delivered a very interesting presentation at the Transition Network Conference 2010 in the UK.

Peak Oil and the collapse of global Ponzi finance are a “perfect storm” of converging phenomena that threaten to sink our age of prosperity through wealth destruction, social discontent, and global conflict. Nicole will describe how our current financial system is an unsustainable credit bubble grounded in “Ponzi dynamics,” or the logic of the pyramid scheme. She warns that most people are woefully unprepared to face the consequences of the devastating deflation that is now unfolding.

Check out the following comments about Making Sense of the Financial Crisis in the Era of Peak Oil

• My Conference – Shaun Chamberlin on Stoneleigh’s peak oil/finance talk
• Nicole Foss: A Century of Challenges

President Obama on the Oil Spill and Alternative Fuel Sources

Watch the full video or read the full transcript of Remarks by the President to the Nation on the BP Oil Spill.

Lloyds Report - Sustainable Energy Security: Strategic Risks and Opportunities for Business

Chatham House-Lloyd's 360 Risk Insight White Paper
by Antony Froggatt and Glada Lahn, June 2010

As the disaster in the Gulf of Mexico has amply demonstrated, growing global energy demand and the anticipated restricted availability of some conventional fossil fuels pose an escalating threat to the security of energy supply for global businesses. Sustainable Energy Security: Strategic Risks and Opportunities for Business, produced jointly by Chatham House and Lloyd's, reveals multiple vulnerabilities in our current energy system and urges both business strategists and government policy-makers to take into account a range of encroaching risks and be bold in making plans for a more resilient and low carbon energy future.



This report, jointly produced by Lloyd’s 360 Risk Insight programme and Chatham House, should cause all risk managers to pause. What it outlines, in stark detail, is that we have entered a period of deep uncertainty in how we will source energy for power, heat and mobility, and how much we will have to pay for it.

Is this any different from the normal volatility of the oil or gas markets? Yes, it is. Today, a number of pressures are combining: constraints on ‘easy to access’ oil; the environmental and political urgency of reducing carbon dioxide emissions; and a sharp rise in energy demand from the Asian economies, particularly China.

Executive Summary

• Businesses which prepare for and take advantage of the new energy reality will prosper - failure to do so could be catastrophic
• Market dynamics and environmental factors mean business can no longer rely on low cost traditional energy sources
• China and growing Asian economies will play an increasingly important role in global energy security
• We are heading towards a global oil supply crunch and price spike
• Energy infrastructure will become increasingly vulnerable as a result of climate change and operations in harsher environments
• Lack of global regulation on climate change is creating an environment of uncertainty for business, which is damaging investment plans
• To manage increasing energy costs and carbon exposure businesses must reduce fossil fuel consumption
• Business must address energy-related risks to supply chains and the increasing vulnerability of 'just-in-time' models
• Investment in renewable energy and 'intelligent' infrastructure is booming. This revolution presents huge opportunities for new business partnerships

[via Transition Culture]

"Better than Growth" released by Australian Conservation Foundation

Arguing for something beyond economic growth

Australian Conservation Foundation has published an outstandingly well produced paper on how we can redesign our ways of living based on something other than economic growth and all its attendant troubles.


"Most australians don’t agree that their only goal in life is to increase their financial wealth and consumption – but too often our economic policy treats us as if we do. in reality, our quality of life depends on having time for family and friends, a strong sense of community, and a healthy natural environment. our economy should help us achieve those goals.

We can do better than a narrow vision of economic growth, and this report shows us how. Better than Growth explores the best practical thinking from around the world about how to improve economic measurements and align our economies to long-term environmental and social wellbeing."

[via Transition Network]

Is Humanity Unsustainable?

The co-inventor of "the ecological footprint" now calls for a planned contraction of the economy, to save the biosphere and promote world fairness. How our primeval brains work against us.

Powerful speech on Radio EcoShock [mp3, transcript by Alex Smith] by Canadian biologist Dr. Bill Rees, April 15, 2010.

At a meeting of the World Federalists, guest speaker Dr. William Rees gave this speech standing, without notes. It shines with clarity, developed form decades of lecturing, in the field of his passion, which he himself developed – the “ecological footprint.” Rees is a professor at the University of British Columbia, Canada – and a Fellow of the Post Carbon Institute.

Rees begins with an early warning, following the 1992 United Nations Conference on the Environment. It is a statement by the Union of Concerned Scientists issuing a warning to humanity.

"Many of the Nobel Laureates in science signed on to this particular document but the bottom line is pretty clear: 'A great change in our stewardship of the Earth and our life on it, is required if vast misery is to be avoided, and our global home is not to be irretrievably mutilated.'"

Dr. Rees says this warning had no effect whatsoever. He moves to a more recent statement, from the Millennium Ecosystem Summary Report, in which Rees participated, along with 10,000 other scientists. It was the largest study ever taken of the world's ecosystems. It warned that:

‘human activity is putting such a strain on that the natural functions of the Earth that 'the ability of the planet's ecosystems to sustain human endeavor can no longer be taken for granted.'

It is no exaggeration to say that Bill Rees has taught and inspired at least two generations of students, ecologists, and environmentalists around the world. Here he outlines the condition of humanity on a small planet, with thoughts on how both can survive.

[via Energy Bulletin]

America's Energy Future and PickensPlan

Milken Institute Global Conference Panel:
Ted Turner and T. Boone Pickens on America's Energy Future

Speakers:

• T. Boone Pickens, Entrepreneur and Philanthropist; Founder, BP Capital
• Ted Turner, Chairman, Turner Enterprises Inc.

Moderator:

• Michael Milken, Chairman, Milken Institute

Ted Turner didn't mince words: "We've gotta get off the Titanic before it sails." He and T. Boone Pickens argued passionately that America has to start weaning itself off foreign oil imports — and do it now.

Their session began with a recap of how president after president has pledged to achieve energy independence, while the percentage of U.S. oil imported from foreign sources in volatile regions has continued to climb. Today the nation imports some two-thirds of its oil.

"We're paying for both sides of the war," said Pickens, insisting that oil money sent to the Middle East is paying for terrorists and the Taliban. He expressed optimism that President Obama has pledged to end oil imports from the Middle East within 10 years, but was quick to add: "We have to remind him." Pickens pointed out that the U.S. represents about 4 percent of world's population but consumes 25 percent of the world's oil, an equation that's just not sustainable. He called for transitioning the nation's fleet of 18-wheelers to natural gas immediately.


The big question of the day is whether Washington has the political will to effect a fundamental change in America's energy consumption. Turner expressed worry about the influence of special interests and argued that the U.S. has to end oil and coal subsidies to level the playing field for renewables.

Pickens pointed out that China is already moving to ensure its energy independence, and the United States can, too. He believes strongly that we will see a strong energy bill passed this year or next, noting how many millions had signed onto the Pickens Plan online. He believes the grassroots effort can make something happen — and "scare the hell out of those politicians."

Both men agreed that time is of the essence and acting is crucial to our children's livelihoods and lives. Reducing America's reliance on foreign oil, transitioning to natural gas and turning to renewable sources will be a win all around, in terms of national security, economic stability, jobs, cleaning up the environment and fighting climate change.

"We have to go to wind and solar eventually," said Turner. "Why not now? . . . Let's do the right thing and we'll all get rich!"

Watch the full panel discussion online at Milken Institute's web page.

The Crisis

Our dependence on foreign oil forms the intersection of the three most critical issues America currently faces: the economy, the environment and our national security.

The Pickens Plan

America is blessed with the world's greatest wind power corridor and enormous reserves of clean natural gas. The Pickens Plan utilizes these tremendous resources to build a bridge to the future — a blueprint to reduce foreign oil dependence by harnessing domestic energy alternatives and buying time for us to develop even greater new technologies and distribution systems.

The Plan calls for building new wind generation facilities that will produce 20% of our nation's electricity while using our abundant domestic natural gas supply as a transportation fuel as well as for power generation. The combination of these domestic energies can replace more than one-third of our foreign oil imports. And we can do it all in 10 years.

Natural Regression Film on the Energy Crisis

Natural Regression is a short independant documentary that focuses on the energy crisis and how much impact it has on the economy. With interviews from Colin Campbell and Chris Skrebowski, this gives us an insight on the nature of the financial crisis. The financial consequences are so overwhelming that this subject should be at the heart of political debate everywhere.



Watch the full Natural Regression movie here.

The Outlook for Energy in Eastern Europe and the FSU

Lights Out? The Outlook for Energy in Eastern Europe and the Former Soviet Union

This new report has been recently published by the World Bank. Download the pdf version to read the full Lights Out? The Outlook for Energy in Eastern Europe and the Former Soviet Union paper. A short excerpt:

Foreword

Before the current economic crisis hit the Europe and Central Asia (ECA) region in 2008, energy security was a major source of concern in Central and Eastern Europe and in many of the economies in the former Soviet Union. Energy importers were experiencing shortages
leading to periodic brownouts and blackouts. An energy crisis seemed imminent.

Summary

• Emerging Europe and Central Asia, the region made up of the countries of Central and Eastern Europe (CEE) and the Commonwealth of Independent States (CIS), is a major energy supplier to both Eastern and Western Europe. However, the outlook for both primary and derivative energy supplies is questionable, with a real prospect of a significant decline during the next two decades.
• Western Europe is heavily dependent on energy imports from this region. It will therefore be affected by declines in primary energy supplies. But Western Europe has the financial capacity to secure the energy supplies it needs (albeit at the expense of others). In contrast, the region’s energy-importing countries are caught between Western Europe, which has increasing import needs, and the region’s exporters, whose exports will likely decline. These countries face the prospect of being squeezed both financially and in terms of energy access.
• This difficult prospect is compounded by the deterioration of the region’s energy infrastructure, including power generation and district heating. Although the public sector will have to finance a portion of these investments, it will not have the capacity to meet the full investment needs. It is therefore essential that countries in the region move quickly to put in place an enabling environment to support investment in the sector.
• Overlaying all of this are environmental concerns, in particular concern about climate change. Member states of the European Union (EU) and those with EU ambitions will need to meet the challenging EU greenhouse gas emissions targets. At the same time, a number of countries in the region will face the temptation to use environmentally unfriendly technology to meet their immediate energy needs.
• Policy responses need to emphasize demand-side management and the use of energy efficiency measures. The Russian Federation, as the region’s major energy exporter, needs to direct additional resources to energy production over the longer term if export levels are to be maintained. Incentives need to be devised and implemented to encourage countries to avoid environmentally unfriendly solutions.

[via The Oil Drum's daily Drumbeat news]

A Green New Deal for Europe

The Green European Foundation (GEF) is the political foundation of the aisbl Green European Institute. It is one of the newly created political foundations on European level, and is funded on an annual basis by the European Parliament. GEF is publishing the Green New Deal series.
In the face of the current multiple crisis (financial, economic, social, environmental), the need for sustainable policies is self-evident. The Green New Deal is the integrated policy approach that Greens in Europe are putting forward as a solution to the crisis. The Towards Green Modernization in the face of Crisis report by the Wuppertal Institute analyzes in depth the climate, environment and energy aspects of this proposal.

Over the past year, billions of Euros have been spent in Europe, the US and other industrialised countries on so-called ‘recovery packages’ to overcome the economic crisis. However, these unprecedented amounts of public money could also be focused on fostering an ecological transformation of our economies, and not on safeguarding the economic patterns that brought about the crisis in the first place. Needless to say, this is no easy task. The present report by the Wuppertal Institute is meant to take stock of the current situation and identify the most suitable areas, the most effective instruments and the best practices for promoting this transformation.

Greening recovery packages

The report gives an overview of the “recovery packages” introduced by governments around the globe and reveals that the European Union is lagging behind the United States and Asia in terms of the Green share of those recovery plans. The authors show the economic and employment potential of a Green New Deal and that the EU has the possibility of leading the way.The report takes a pragmatic approach in the sense that it focuses primarily on how to ‘green’ immediate recovery activities in specific economic areas, and how to support the creation of framework conditions which initiate a dynamic for ecological modernisation and structural change. It also identifies key elements for the implementation of a Green New Deal.

Policy recommendations

The report ends with a series of recommendations that urge the European Union and its Member States to focus their programmes on investments that will kick-start a Green economy and provide sustainable ways out of the crisis.

Green New Deal series
The next volume of the series has also been published: Green New Deal and a European Response to the Crisis: towards ambitious macroeconomic governance of the EU

In this second volume, Francisco Padilla argues in favor of the idea of transforming the Stability and Growth Pact into a Sustainable Stability and Growth Pact.

In this recent article published by the Green European Foundation, the author argues that apart from the reforms of financial regulation that have already been announced, the European Union has to respond to the global crisis by pursuing a double objective. On the one hand, it should focus on economic reorganization, centered around eco-efficency and low carbon economy as engines of job creation. On the other hand, attention must be paid to the fight against unsustainable (public and private) debt and to the alarming increase in poverty rates, fostered in turn by wage deflation. The article maintains that only by focusing on these two conditions at the same time the European Union will be able to tackle the structural causes of systemic economic instability, exacerbated by the past 30 years of financial liberalisation.

This latter publication is so far only available in French on the GEF web page.

Our Future and the End of the Oil Age: Building Resilience in a Resource-Constrained World

A new presentation from ClubOrlov by Dmitry Orlov:



In conclusion

• Many people can't be persuaded by either fact or reason. Let's hope you are not one of them.
• Running out the clock on our current living arrangement is a bad idea: the longer you wait, the fewer options you will be left with
• A rather exciting time to be alive, wouldn't you say?

Twin Threats to Resource Scarcity: Oil & Water by Matthew Simmons

Matthew R. Simmons had a recent speech at Marsh’s National Oil Companies’ Conference 2010. The presentation: Twin Threats to Resource Scarcity: Oil & Water is available online on the web page of Simmons & Company International.

A post on The Business Insider called it Matthew Simmons' Awesome Presentation On The Coming Oil & Water Shortage.

Life at the End of Empire Movie - What a Way to Go

A middle class white guy comes to grips with Peak Oil, Climate Change, Mass Extinction, Population Overshoot and the demise of the American Lifestyle.



What is it doing to us as thoughtful human beings as we face the overwhelming challenges of:

• Peaking fossil fuel flow rates?
• Critically degraded ecosystems?
• A changing climate?
• An exploding global population?
• Teetering global economies?
• An unstable political climate?

And what is it doing to the rest of the life on this planet?



The Movie What a Way to Go - Life at the End of the Empire features interviews with Daniel Quinn, Derrick Jensen, Jerry Mander, Chellis Glendinning, Richard Heinberg, Thomas Berry, William Catton, Ran Prieur and Richard Manning, What a Way to Go looks at the current global situation and asks the most important questions of all:

• How did we get here?
• Why do we keep destroying the planet?
• What do we truly want?
• Can we find a vision that will empower us to do what is necessary to survive, and even thrive, in the coming decades?

Writer/Director
Timothy S. Bennett

Producer
Sally C. Erickson

Consultant
Barbara Trent, Producer and Director of the
1993 Oscar® winning feature documentary, The Panama Deception.