RICS Modus, Global edition - October 2013

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#RICSModus, October 2013 - the OIL issue. In this global issue of the RICS magazine, we’re exploring our relationship with the black gold: the opportunities that it presents for us professionally; where we are still finding it; and the challenge that we face in weaning ourselves on to other sources of power. And in our cover story, we ask how we would all be affected if a ‘black swan’ event, such as a tanker collision at the mouth of the Persian Gulf, led to a sudden and prolonged rise in the price of oil.

Text of RICS Modus, Global edition - October 2013

  • The o

    il issue

    You know The drill Opportunities for surveyors in oil p20growing pains Do biofuels do more harm than good? p30 local warming Life with the Renewable Heat Incentive p34

    10.13 //


    us 10.13 // r

    ics.org /m


    a tanker collision blocks the persian gulf.

    oil doubles in price. What happens next?

    MODUS_Oct13_P1_Cover.v4.indd 1 10/09/2013 09:49

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  • NO 3110.13 //

    OILING THE WHEELSMoney may make the world go around, but without a plentiful supply of oil, things

    would grind to a halt pretty quickly. Its what we use to get around, its what we

    use to move materials from their source to their point of use, and its present (one

    way or another) in almost every mouthful of food that we eat. So in this issue of

    Modus, were exploring our relationship with the black gold: the opportunities

    that it presents for us professionally; where in the world we are still fi nding it; and

    the challenge that we face in weaning ourselves on to other, more environmentally

    benign, power sources. And in our cover story, we ask how we would all be affected

    if a black swan event, such as a tanker collision at the mouth of the Persian Gulf,

    led to a sudden and prolonged rise in the price of oil. Its all fuel for thought


    10.13 // MODUS 03

    Regulars04_FEEDBACKYour views on Modus and more

    06_INTELLIGENCEGlobal news, plus opinions, reviews and reactions

    29_LAW ADVICEThe fi ner legal points of the UK governments Green Deal

    41_BUSINESS ADVICEHow to use your expertise to create press coverage

    Features14_OIL AT $200 A BARRELWhat would happen if an unexpected event led to a massive rise in the price of oil? 20_WHERE NEXT?A look at the surprising places that a career in the oil industry could take chartered surveyors

    26_BLACK GOLDGlobal data on oil reserves, production and consumption

    30_THE OIL FARMJust a decade ago, biofuels seemed a perfect answer to our energy problems. Now the world is not so sure. Why?

    34_TURN UP THE HEATThe Renewable Heat Incentive helps rural businesses to switch from oil-fi red heating systems. We take a look at how it works

    Information43_RICS NEWSNews, updates and a message from the RICS President

    49_EVENTSTraining and conference dates

    51_RECRUITMENTCareers advice and the latest job opportunities from across the industry

    58_THE MEASUREHow far can you cycle, swim and walk on the energy equivalent of one barrel of oil?





    MODUS_Oct13_P3-5_Cont and Letters.V2.indd 3 10/09/2013 10:01

  • Views expressed in Modus are those of the named author and are not necessarily those of RICS or the publisher. The contents of this magazine are fully protected by copyright and may not be reproduced in any form without the prior permission of the publisher. All information correct at time of going to press. All rights reserved. The publisher cannot accept liability for errors or omissions. RICS does not accept responsibility for loss, injury or damage or costs that result from, or are connected in any way to, the use of products or services advertised. All editions of Modus are printed on paper sourced from sustainable, properly managed forests. This magazine can be recycled for use in newspapers and packaging. Please dispose of it at your local collection point. The polywrap is made from biodegradable material and can be recycled.

    Due to the volume of correspondence we receive, we regret that we are unable to print all letters or respond to every one individually.

    IN SYMPATHYI was shocked and saddened to hear of the death of RICS member Chris Edwards at such a comparatively young age. Chris was a lovely man: he served RICS, and before that the ISVA, in senior capacities and his expertise, charm and hard work brought great credit to our professional organisation. Im sure that the many members of the Manchester branches of RICS and ISVA who came into contact with Chris would like to join with me in extending our condolences to his family.Peter Cunliff e FRICS, Sale

    If you would like to inform us of a colleague or peers passing, email contactrics@rics.org, including membership number if known, or call +44 (0)870 333 1600.

    THE SIZE OF ITThere was a reference on the news recently that houses under construction in the UK are too small to be an acceptable home. Sometimes, we see published the average selling price of a newly built house which, at the moment, is about 170,000 in the UK. However, the size of this average house is never included, and I suggest that it should be. In the Daily Mail recently, I read that the owner of an expensive house in London has asked permission to extend the basement by 900 sq m, which the newspaper says is the equivalent of about eight average homes implying the average house is 112.5 sq m.

    One of the UKs largest builders, Persimmon, announced today in its half-year report that the average selling price has increased in the past six months by 5% to 179,199. However, no indication is given for the size of the house.

    Could RICS make a recommendation to the Ministry of Housing that builders include the size of the properties built in their fi nancial statements? And that the average selling price in the UK should include the size of the property? Local planning committees must have a big infl uence in this matter by setting the density of houses per acre that can be developed. Obviously, they are under pressure to allow the highest possible density, which may lead to many houses being far too small.John Doel FRICS, Lymington

    @j_bmilburn @modusmag great article this month, turning offi ces into homes how practical is it and would developers be open to it? #doitdiff erently

    @doodlings Excellent article by Graham Warren in @modusmag Rural planning rules destroying communities Deserves wider circulation @RICSWales #RICS

    @jonsawyerigloo Interesting piece on the growth in pop up retail in this months @modusmag #rics Good to see pop up becoming more mainstream

    @RICSnews // @modusmagnews // @modusmag

    Feedback //

    The MODUS team //FOR SUNDAYEditor Oliver Parsons // Art Director Christie Ferdinando

    // Contributing Editor Brendon Hooper // Deputy Editor

    Samantha Whitaker // Junior Designer Isabella Fernandes

    // Creative Director Matt Beaven // Account Director

    Stephanie Hill // Commercial Director Karen Jenner //

    Commercial Manager Display Lucie Inns // Advertisement

    Manager Victoria Cunningham // Commercial Manager

    Recruitment Charlotte Turner // Recruitment Sales

    Executive Angus Sharpe // Managing Director Toby

    Smeeton // Repro F1 Colour // Printers Woodford Litho //

    Cover Jrn Kaspuhl // Published by Sunday, 207 Union

    Street, London SE1 0LN sundaypublishing.com

    FOR RICSEditorial board Jaclyn Dunstan and Mark Goodwin

    RICS, Parliament Square, London SW1P 3AD

    89,820 average net circulation 1 July 2012 30 June 2013


    Getting there: We look at the future of sustainable urban transit systems and how they will aff ect the development of our cities

    Poundbury at 20: Two decades on, Prince Charles new urbanist experiment has come of age. How successful has it been?

    Big city blues: What factors make a city sprawl, and can it be stopped? We examine the lessons learned in Liverpool, London and Budapest

    PLUS, are you engaged in work in extremely hot, cold or otherwise potentially dangerous conditions? If so, wed like to hear from you for our forthcoming extremes issue. Email editor@ricsmodus.com.

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