The following images clearly show the problems that are developing with the ever increasing cost of energy discovery and production. Most commentators agree that an overall EROEI (Energy Return on Energy Invested) of 10 to 12 is required to support modern economies. That is about where we are now. Source:…
In an article in the Sydney Morning Herald a few days ago it was claimed that there is an “energy revolution” underway in the US. The upshot was that cheap gas & oil was luring foreign manufacturers to build factories in the US. It would also undercut Australia’s export LNG…
This is the first of a series of articles that I plan to write on Energy Return on Energy Invested (“EROEI”). EROEI is effectively the ratio of energy gained from a process, to the amount of energy expended to produce that energy. It is complex to calculate and poorly understood.…
President Richard Nixon introduced the petrodollar in 1974 to allow continuation of the dollar as the world’s reserve currency. A brilliant economic strategy. Read more here. Since I last wrote about the petrodollar in February this year, America has managed to alienate both Russia and China. The first with the…
As a geologist I have long been interested in the contribution of luck to exploration success. It is much more important than many people wish to believe. At BHP we used to say, only half-jokingly, that it would be more cost effective to just drill Australia on a grid than…
Research studies have shown that quality investor relations is not just the distribution of financial material and conducting investor meetings. Investor relations includes the quality and credibility of management, its strategic vision and ability to execute initiatives. Further, it encompasses corporate governance, ethics policies, accounting practices, reporting standards and disclosure…