Peak Oil was a topic this week. McClatchy asked Is the era of oil nearing its end?  and The Telegraph said Peak cheap oil is an incontrovertible fact while Energy & Capital discussed Misconceptions Surrounding Peak Oil. The Norway Post told us experts predict new oil peak in 2020 and The Sacramento Bee posted Professor sees energy ‘trap’ ahead. David Strahan chipped in with Peakonomics: no country for old men.

Speaking of Norway, Businessweek revealed its oil output is going to rise for first time since 2000.

Forbes said North America Faces Momentous Choice On Natural Gas Resources. The continent has to choose between keeping its massive shale gas finds for itself or exporting some. “Do we want to keep the huge volumes of natural gas that have been discovered in recent years across the continent landlocked and transportable only by pipeline, or should we develop the infrastructure that will enable us to transport this fuel to the gas-hungry markets of Asia?” The posts looked at the benefits and costs of both options. In a related post, Environment 360 looks at the potential impact of cheap US natural gas finds on renewable energy in that country.

Forbes also told us why developing countries are now driving crude oil prices. In a world of rising oil prices, consumption in Asia, Africa, South America, and the Middle East has been increasing.”Thus, despite drops in consumption among most developed regions, global oil consumption over the past decade rose by nearly 11 million barrels per day…The trend was clear: As oil prices increased, developed countries reduced oil consumption, while regions that were significantly undeveloped or developing increased oil consumption.” Why are developing countries paying high prices for oil in the face of rising oil prices?  The author believes it is because people living in developed countries put a higher value on increasing their standard of living than those living in developed countries and oil helps them to do this.

National Geographic wrote about China’s massive shale gas reserves. China’s reserves are 50% larger than those in the US and by 2020 the country hopes shale gas will provide 6% of its energy demand.

Japan looks like it will abandon nuclear power and move towards more renewable energy.  At the same time it is covering itself by importing great quantities of liquid natural gas (LNG) to power generators to produce baseload electricity. Seeking Alpha asks Who Will Benefit From Japan’s Energy Policy?  With natural gas selling at $2.20 in North America and $17.50 in Asia, the answer is any company that can arbitrage these two markets by getting North American LNG export permits as well as companies that build LNG export infrastructure or ship LNG.





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