Archives for May, 2014
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…