SET Energy

The continued fall in the price of oil due to stock market crashes worldwide leads most analysts to wonder how far down it can go? To understand the depths of oil’s potential price we have to first understand the potential imbalance of demand and supply that can send prices lower than $80 per barrel. This blog will focus on the demand side and probe US demand specifically.

At ~20 million barrels per day (Mbd), the United States consumes more than double the amount of the world’s #2 consumer, China (~8.3 Mbd). US consumption equals almost 24% of world consumption. Thus, fluctuations in US demand have (more…)

Today was a great day, and a microcosm of how I think we can succeed in our mitigation of climate change and energy price increases. The exciting events took place in the Triangle area of my home state of North Carolina, and showed that even for-profit private companies can aim for the greater good at times. I met with fellow part-owners in Greenway Transit, LLC, a company dedicated to bringing sustainable transportation options like pedicabs and biofuel rides to the communities of Chapel Hill/Carrboro and Durham. We then (more…)

Today was my first full day in Manhattan. After getting an internet and phone system installed in the apartment, I rolled down 80 blocks of this bustling City for a meeting. Glad to be sporting a helmet, this ride was no easy stroll. Unlike some previous cycling in Princeton, New Jersey, and Chapel Hill/Carrboro, North Carolina — Manhattan cycling demands full focus to arrive at your destination unscathed by eager taxi drivers and hurrying pedestrians. It made a real difference when I had a bike lane that gave me some sense of security, with the best part of the trip being the ride through Central Park’s bikeway on my way back. The cool thing was my meeting was with (more…)

Ever since July 2007, the International Energy Agency (IEA) has taken the concern of people like me a lot more seriously. A mix of geologists and energy observers have been worried about a potential oil supply future where production hits a plateau and even declines by the late 2010s. IEA calls for demand reduction and supply investment have gotten louder and louder as the months pass by. And today, IEA chief economist acknowledged that we are within two years of the peak in production of non-OPEC conventional oil. This means (more…)

Today’s New York Times has a great story on the Parisian bike share program, Velib, which just completed its first year in operation. In just twelve months, the program has increased bicycle use 25% (~120,000 rides per day) without costing the city a penny. An advertising firm has contributed the bicycles and agreed to maintain the 20,000 bikes for exclusive rights to ~1,600 billboards. As I move into New York City next week, I am eager to see if such a plan could work in the Big Apple — and many other cities around (more…)