Assessing the date of the global oil peak: the need to use 2P reserves

Combining geological knowledge with proved plus probable ('2P') oil discovery data indicates that over 60 countries are now past their resource-limited peak of conventional oil production. The data show that the global peak of conventional oil production is close. Many analysts who rely only on proved ('1P') oil reserves data draw a very different conclusion. But proved oil reserves contain no information about the true size of discoveries, being variously under-reported, over-reported and not reported. Reliance on 1P data has led to a number of misconceptions, including the notion that past oil forecasts were incorrect, that oil reserves grow very significantly due to technology gain, and that the global supply of oil is ensured provided sufficient investment is forthcoming to 'turn resources into reserves'. These misconceptions have been widely held, including within academia, governments, some oil companies, and organisations such as the IEA. In addition to conventional oil, the world contains large quantities of non-conventional oil. Most current detailed models show that past the conventional oil peak the non-conventional oils are unlikely to come on-stream fast enough to offset conventional's decline. To determine the extent of future oil supply constraints calculations are required to determine fundamental rate limits for the production of non-conventional oils, as well as oil from gas, coal and biomass, and of oil substitution. Such assessments will need to examine technological readiness and lead-times, as well as rate constraints on investment, pollution, and net-energy return. (C) 2007 Elsevier Ltd. All rights reserved.

Deglacial changes of the southern margin of the southern westerly winds revealed by terrestrial records from SW Patagonia (52 degrees S)

Much of the ongoing discussion regarding synchrony or bipolar asynchrony of paleoclimate events has centered on the timing and structure of the last glacial termination in the southern mid- latitudes, in particular the southwestern Patagonian region (50�e55�S). Its location adjacent to the Drake Passage andnear the southern margin of the southern westerly winds (SWW) allows examining the postulated links between the Southern Oceane SWW coupled system and tmospheric CO2 variations through the last glacial termination. Results from two sites located in the Última Esperanza area (52�S) allow us to infer SWW-driven changes in hydrologic balance during this critical time interval. These findings indicate peatland development under temperate/wet conditions between 14,600 and 14,900 cal yr BP, followed by cooling and a lake transgressive phase that led to a shallow lake during the early part of the Antarctic Cold Reversal (ACR, 13,600-14,600 cal yr BP), followed in turn by a deeper lake and modest warming during Younger Dryas time (YD, 11,800-13,000 cal yr BP), superseded by terrestrialization and forest expansion at the beginning of the Holocene. We propose that the SWW (i) strengthened and shifted northward during ACR time causing a precipitation rise in northwestern and southwestern Patagonia coeval with mid- and high-latitude cooling and a halt in the deglacial atmospheric CO2 rise; (ii) shifted southward during YD time causing a precipitation decline/increase in NW/SW Patagonia, respectively, high-latitude warming, and invigorated CO2 release from the Southern Ocean; (iii) became weaker between 10,000 and 11,500 cal yr BP causing a precipitation decline throughout Patagonia, concurrent with peak mid- and high-latitude temperatures and atmospheric CO2 concentrations.