The power of energy need will overcome all the politics involved.
If the fanatics veto the pipeline project the Israelis have a ready
market in the UK for LNG with the regassing installations in Wales.

The 1.7 billion barrels of oil, may be gas liquids and cannot be used
for making petrol or diesel.
In any case it is a very small find as it is equal to 18 days of the world consumption.

Yes Bazz, if the oil is really liquid condensate, then the Israelis, would be very wise to reserve it for domestic purposes only, in which case, it could keep much of their transport options operating for the next twenty years.
Getting into bed with the Russians, and supplying Russian controlled LNG to Asia, is probably a mistake. [Hopefully, it is not yet a done deal?]
Logically, the smaller Tamar field should be reserved for exclusive domestic use, well into the foreseeable future.
The pipeline to Turkey probably also guarantees essential low cost energy supplies for Turkey; and might eventually lead to a major European market; and freedom from quite aggressive Russian market manipulation, for rank political purposes.
A European supply pipeline traversing Turkey, also improves Turkey's prospects of early admission into the EU.
Gas or the cheap energy it provides, could rescue Cyprus, but does very little for the divided house, that is now a very troubled Lebanon, other than, something else to fight each other for?
Rhrosty.

This article is a great example of the author getting their head out of the symptoms and understanding the causes. Great work Jen.

Basically the global energy market is in chaos for four reasons. The first is that new technology will allow commercial exploitation of many alternative fossil fuel sources and that these sources are no longer exclusive to the traditional suppliers. CSG, Oceanic Floor Methane (Japan is already doing this) and Shale Oil/Gas for example. This will inevitably cause international geo-political realignment.

The second is the collapse of the energy markets’ global emissions trading mechanism.

The CCX collapsed in December 2010, by November 2012, Barclays US Carbon trading Desk closed, the UN, EU and NZ markets were trading at just off their all time lows at A$5.60, EU, UN backed credits A$8.45 and NZ trading A$4.10.

By January 2013 these markets had collapsed a further 40% with NZ trading at just US$ 2.00.

The third reason is because the global renewable energy manufacturing markets have collapsed.

RENIXX is the key international stock market index for renewables and tracks the worlds top 30 largest renewable energy companies based in the USA, EU and China. This market is down 90 percent since 2007. (Sources; The Australian and NZ Climate Science Foundation)

In the USA alone eight of their largest subsidized renewable energy manufacturers have filed for bankruptcy between 2007 and 2012. Beacon Power Corp, Ener1, Evergreen Solar, Solyndra, SpectraWatt, Babcock and Brown, Mountain Plaza Inc and Solar Millennium. The cost to the US taxpayer is U$ 3.9 Billion.

A further six subsidized green energy companies are in default or in decline at a cost to the US taxpayer of U$ 6 Billion. The wind industry in the USA, the largest in the world, is predicted to lose 70 to 90 percent of its orders. Investors predict its total demise.

Cont’d

Cont’d

As at March 28 2013, “CHINA'S Suntech reached its zenith as the world's largest solar panel producer, but has plunged to the nadir of bankruptcy in just a year, highlighting the woes of the industry it shaped”. (Sources; the Global Warming Policy Foundation and The Australian)

The fourth reason is because their no longer exists any global emission cap and governance mechanism with the failure of Kyoto.

So if you were in either end of the energy market (supplier or consumer) you would have two alternatives. You would either go hard on finding competitive fossil/nuclear energy sources, or you could pretend that the great green revolution is still in full swing and try to get the dead cat to bounce. The UK/EU are in the bouncing cats business whilst the rest of the world, our competitors, are forging ahead to put us out of business.

So until such time as the market determines just who is going to do what with whom, the energy market will remain chaotic.

Meanwhile the “Peak Everything Brigade” is still trying to get their heads out of ideology, scary stories, pseudo-science, vested interests and utter confusion whilst trying to sound sane. They don’t have any answers because they don’t even understand the questions, sadly that will not stop them from telling us everything we need to know about everything they don’t know

HMMM, yes Spindoc, thanks for all the info in the renewables.
I had read a little about some of those companies and industries you
mention, but only just bits and pieces.

Peak Everything, well some of the everything have peaked already and
there are no ready alternatives for most of them.
Sure we can use aluminum for electric cables, which is done already
for long spans, but not really suitable for most other uses.
The Chinese are buying copper instead of gold, isn't that interesting.
There are warehouses full of the stuff.

Bazz,

Hmmm.

You say thanks for the information and then head to the place I predicted?

You are full of “information” about the “facts” about what?

<< Aluminum for electric cables, gold and copper>>.

You have data but you cannot rationalize or assimilate anything into anything. It’s just data.

You are a classic case of a “Google Head”, you go on-line, get some data, post it and expect someone to understand what the hell you are talking about. Digest it for yourself for goodness sake. Make some sense out of your data and present some conclusions of your own. Stop being so damn lazy and give us your considered opinion rather than the data you throw out there without context or relevance.

This is a debating forum, present something we can debate.