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​Supply or demand? Peak oil with Richard Heinberg and James Hamilton

May 09, 2014 03:30

Reuters/Lee Jae-Won

Download video (214.38 MB)

Our lead story: This week Stanford said that it would divest all of its investments in coal mining companies, becoming the wealthiest US university to pledge divestment from sectors of the fossil fuel industry. Erin gives you her take on the situation.

For our interviews today, we look at peak oil theory with Richard Heinberg and James Hamilton. Heinberg argues that we have reached peak oil supply and that will have major economic consequences for our future prospects of economic growth. Hamilton on the other hand sees this as more of a demand issue. Take a look.

Finally in today’s Big Deal, Edward Harrison and Erin take a look at the return of the subprime auto loan market. Is this another example of perverse incentives in the search for yield? Edward gives you his take.

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Comments (5)

 

FcuSna 16.05.2014 12:46

Transport oil and fossil fuels by Train. Ask Tesla how to build a new tech train infrastructure. Also a lot can be transported by bicycle. Trikes. Velomobiles...

 

Merrill Kingston 10.05.2014 00:24

First of all it is not "fossil fuel". Oil is not the result of rotting dinasour corpses. Oil is produced by the bowels of the earth.

Seco nd, peak oil is a myth. In Russia, they returned to old wells years after they had ceased to produced and discovered the pools of oil from which they had been pumping oil long ago had replenished. The earth itself refilled those underground pools of oil.

The only thing "peak" about "peak oil" is the the oil companies peaking their push for the idea, so the price of oil can continue to rise.

 

Evo Immorales 09.05.2014 15:00

Certainly REMant, wind is inadequate, likewise photovoltaic. However solar oil & salt thermal technology is viable but, to begin with, has a heavy carbon footprint, especially as the renewal & replacement times not yet ascertained.

Oil & natural gas will continue to decline massively, fracking only polluting the soil & water. Nuclear can help build solar thermal but new technology such as Eric Lerner's Focus Fusion ultimately promise to solve the situation once & for all without producing free neutrons (=radioactivity). Major funding still needed though.

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