The Intelligent Investor - The case for oil

Peak oil theory takes Hubbert’s hypothesis and applies it to global oil production, suggesting that worldwide oil production will rapidly decline following its peak, thought to be around 2010. Geologically speaking, this makes sense. Oil fields that perform splendidly in their early stages will progressively deteriorate as they age. But economically speaking, the marginal cost of oil production trumps peak oil theory every time. And this forms the crux of our argument for higher oil prices.

The Australian - Industry lashes oil-spill firm

AUSTRALIA'S peak oil and gas body has turned on one of its own, saying established safeguards exist to prevent oil-well blowouts and the disastrous West Atlas spill in the Timor Sea should never have happened.

It comes as the company at the heart of the environmental disaster, PTTEP Australasia, announced another technical delay as it prepared a fourth attempt to plug the leak.

It has been almost 10 weeks since sweet light crude oil, gas and condensate started spewing from the drill unit off the Kimberley coast in the Timor Sea.

Or, alternately, the response has been "World Class":
WA Today - Spill response 'world class', oil company says

Operators attempting to stop the massive oil spill on the West Triton oil rig say the clean-up efforts so far have been "world class".

This is despite four failed attempts to plug the gap, more delays and criticism from Australia’s peak oil and gas body.

Bloomberg - Australia Coal Mines Can Bear Proposed Carbon Cost

Oct. 27 (Bloomberg) -- Australia’s coal-mining industry can afford the cost of carbon reduction proposed by the government’s climate change legislation, Greg Combet, the minister assisting the minister for climate change, said today.

The cost may amount to about 80 Australian cents per metric ton of coal produced, assuming a carbon permit cost of A$25 ($23) per ton, Combet told a conference on the Gold Coast, Australia.

The Age - CEO`s Address to AGM

At this point, I would like to briefly recap on why alternative fuels. Firstly, the
worldwide concern over increasing Greenhouse Gas emissions from vehicles. Use of alternative fuels can significantly reduce CO2 emissions from cars and trucks. Secondly, Fuel availability. Whilst there is much discussion on global crude oil reserves, is there
enough crude oil to supply the worldwide market for the future? If you research this, you will find the term "Peak Oil". Based on the projections from experts in the field, it is clear that at some point crude oil availability will not be able to match the growing global
energy demand. This will cause shortages and an increase in gasoline and diesel prices here in Australia, and around the world. The cost of crude oil is on the increase again following the aftermath of the global financial crisis.

Sunshine Coast Daily - Planning boss enters lion's den

Mr Bunker laid out the council vision as written in its five-year corporate plan and sought to define “sustainability” - a much-maligned term - as the council saw it, and the policy framework set out in its statement of proposals document.

“The Sunshine Coast faces challenges - global issues of climate change and peak oil will change the way we plan for development, increasing population and visitor numbers could impact on the desirable lifestyle and character of the region, infrastructure is required to match development,” he said.

3 News NZ - Key, Rudd still undecided on Copenhagen attendance

It is just over a month until the landmark UN Climate Change Conference in Copenhagen, where the next major step onwards from the 1997 Kyoto protocol will be decided.
It is seen by millions as a crucial crossroads for the future of the planet. But world leaders including John Key and Australian prime minister Kevin Rudd, are still undecided if they will personally participate.

Stuff.co.nz - ETS changes 'too risky for economy'

Changes to New Zealand's emissions trading scheme will sabotage the economy and siphon money from badly-needed public services, a group of medical practitioners say.

The Australian - 'Four Saudi Arabias' needed for oil

THE world will have to find four Saudi Arabias by 2030 if it wants to maintain its oil dependency, the International Energy Agency says.

The reality of peak oil is fast approaching, and more must be done to develop and encourage the use of alternatives including solar and nuclear, the agency's chief economist has warned.

"My main motto never changes, the era of low oil prices is over," Dr Fatih Birol said.