oil

Submission on strategic risks facing Ireland

We urge the Irish government to recognise the existential aspect of environmental risk, as well as the complex challenges posed by the global financial system's high dependency on oil. Ireland is particularly vulnerable to financial collapse and its community banking sector needs to be strengthened and taxation reforms carried out in order to help mitigate this.

The Corruption of Capitalism by Guy Standing: review by Brian Davey

This book is a powerful attack on rentier capitalism and, very explicitly, a call to revolt. Standing is at his best describing the features of crony capitalism that are totally different from the neo-liberal story of free markets that justifies it. While a very informative read, the analysis urgently needs to be expanded if the emerging commons movement is to be able to adapt to the limits to growth.

Divestment from fossil fuels: a critical appraisal

David Knight considers four possible reasons for divestment from fossil fuels. He concludes that divestment can help to bring about changes needed to tackle the negative impacts of fossil fuel production and use, but it cannot substitute for concerted and rigorous action at international and national governmental levels to keep fossil fuels in the ground.

Future energy availability: ‘net energy’ and the Energy Internal Rate of Return

This week we are publishing two articles from Fleeing Vesuvius which focus on energy supply and use. Chris Vernon's paper explains why, although there is a lot of oil still left in the ground, its supply will contract very rapidly indeed and the world may have run out of oil to burn for energy by 2050. Tom Konrad argues that if a standard assessment tool, the internal rate of return, is used to compare the net energy yield of various projects, it shows which to prioritise for the energy transition.