Video | Business Headlines | Internet | Science | Scientific Ethics | Technology | Search

 


NZ Branch to Study Peak Oil

Sunday, March 05,


A New Zealand branch of the International Association for the Study of Peak Oil and Gas (ASPO-NZ Inc) has been incorporated.

The peak extraction rate of non-renewable oil reserves occurs when roughly half of the recoverable oil in a reservoir has been extracted. This applies to individual oil wells, oil fields as well as to the world as a whole.

Dr Peter Ballance, President of ASPO-NZ says: "The world is now close to the peak for oil and gas extraction and may already have passed this point."

Within a few years, even by more optimistic projections, the global supply of oil and gas will decline and the oil and gas prices will inexorably rise.

This process will have a profound impact on all aspects of our society and economy. Oil is our prime source of transportation energy - cars, trucks, ships, planes - and it is used in the manufacture, production and distribution of nearly all items our society depends on from food, water, pharmaceuticals, to plastic, clothing and so on.

ASPO studies peak indicators and strives to make national governments, local governments and the public aware of the serious consequences associated with the dwindling supply of our most useful source of energy and most universal industrial raw material.

ASPO also compiles, researches and gathers meaningful responses and mitigation strategies available as oil supplies dwindle.

ASPO has no political affiliation and membership is invited from all people and organisations interested in learning more about Peak Oil and in furthering the aims of the Association.

ASPO-NZ is a national organisation based on the ongoing work of individuals, professionals and organisations from around the country which have been studying Peak Oil for several years. ASPO's executive and administration is based in Nelson and it has a national advisory board.

Dr Peter Ballance President, ASPO-NZ Inc

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Sci-Tech
Search Scoop  
 
 
Powered by Vodafone
NZ independent news