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https://youtu.be/0Hrpv21Ubf8

Oil and Gas: The Next Meltdown?

Matt Simmons on Peak Oil

Matt Simmons on Peak Oil

B.C. gives Pacific BioEnergy green light to log rare inland rainforest for wood pellets

Michelle Connolly

B.C. gives Pacific BioEnergy green light to log rare inland rainforest for wood pellets

Prince George plant will grind ancient cedar and hemlock into pellets to be burned for fuel overseas, destroying forest that’s home to endangered caribou and vast stores of carbon.

Sean O’Rourke was hiking in B.C.’s globally rare inland rainforest this spring when pink flagging tape indicating a planned cutblock caught his eye. Finding flagging tape is nothing new, but when he looked closer, he realized the tape had the name of a nearby pellet company on it — Pacific BioEnergy.

The company operates a plant in Prince George where it turns waste wood products — sawdust from mills, tree bark, wood shavings and clippings — into pellets to be burned to produce heat or electricity, replacing coal and fossil fuels. More than 90 per cent of Canadian wood pellets are shipped overseas to Europe and Asia, according to the Wood Pellet Association of Canada.

But the ancient cedars and hemlocks in the rainforest in Lheidli T’enneh First Nation territory, about 60 kilometres east of Prince George, are most certainly not waste wood.

O’Rourke, a field scout with Conservation North, a grassroots organization advocating for the protection of old-growth forests in northern B.C., took photos of the flagging tape to show his colleagues. He later combed through the publicly available harvest data to confirm the province had indeed issued permits to Pacific BioEnergy to log the old-growth forest.

Pacific BioEnergy cutblock

Flagging tape marked “PBEC” — Pacific BioEnergy Corporation — tipped off Conservation North field scout Sean O’Rourke that the area was going to be logged for pellets. Photo: Conservation North

Conservation North field scout Sean O’Rourke

Sean O’Rourke takes a photo of a Douglas fir tree destined to be turned into wood pellets. Photo: Conservation North

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The Attacks on Abqaiq and Peak oil in Ghawar

The Attacks on Abqaiq and Peak oil in Ghawar

Fig 1: The attackers hit at Fajr prayer time

When the late Houston based investment banker Matt Simmons wrote his 2005 book “Twilight in the desert, the coming Saudi oil shock and the World economy”

Fig 2: Matt Simmons’ book

he could not have imagined that Saudi Arabia would be threatened by a pre-dawn drone & missile attack on a plant in Abqaiq, processing oil from Ghawar, the very oil field Matt had warned suffered from high water cut rates and could not maintain production rates of 5 mb/d (chapter 7). 

One of Matt’s slide shows is here: 

Fig 3: Ghawar’s properties worsen from North to South

Indeed, Saudi Aramco’s prospectus for the London Stock Exchange (Initial Public Offering IPO), published in April 2019, has Ghawar producing a sustainable maximum of only 3.8 mb/d, 1.2 mb/d less than was generally assumed. 

Fig 4: extract from Saudi Aramco’s prospectus

According to the prospectus, the maximum sustainable oil production capacity (MSC) from the first 3 fields (affected by the attacks)  in the above table should be 3.8 + 1 + 1.45 = 6.25 mb/d. 

Fig 5: Graph from the same prospectus showing how Abqaiq is connected to Ghawar, Khurais and Shaybah oil fields

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Olduvai IV: Courage
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Olduvai II: Exodus
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