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News from August 2004

YES! Magazine Issue – Can We Live Without Oil?

YES! Magazine Issue – Can We Live Without Oil? thumbnail

YES! Magazine is centering an entire issue around the subject of peak oil, and learning to live in a post-carbon world. They have some excellent articles on a variety of topics, including reducing fuel use, conservation, and some of the alternatives we may turn to in the future. The frontpage for the issue, with links […]


Oil Companies Go Slow On Exploration, Output Despite Spike In Crude

Oil Companies Go Slow On Exploration, Output Despite Spike In Crude thumbnail

Note last several paragraphs quoting Simmons. They can’t bring themselves to admit companies are not spending money because they don’t want to drill dry holes but are coming close by quoting Simmons. He is really saying the peak will have occured by 09.

Yahoo


How to Kick the Oil Habit

How to Kick the Oil Habit thumbnail

As it is, turmoil overseas has helped propel oil prices up more than 40% during the past 12 months. Risk, in other words, has become a part of the fundamental equation when it comes to the price of oil


Why isn’t OPEC pumping more oil?

Why isn’t OPEC pumping more oil? thumbnail

OPEC’s tight wad Oil cartel’s refusal to pump more oil seems irrational, considering the soaring demand. August 30, 2004: 1:19 PM EDT By Fiona Maharg-Bravo, Breakingviews LONDON (Breakingviews) – The Organization of Petroleum Exporting Countries (OPEC) says it is doing everything it can to stabilize oil prices. The reality, however, is that it is doing […]


TRANSCRIPTS – Peak Oil on NPR’s Morning Show

TRANSCRIPTS – Peak Oil on NPR’s Morning Show thumbnail

From Globalpublicmedia: “Narrator: Phil Flint is a commodities analyst with Alleron Trading. He says his colleagues aren’t really worried about a peak in oil production: P. Flint: I think most of them don’t think that far out into the future to be honest with you. I think they look more to 3 to 6 months […]


The future’s a gas

The future’s a gas thumbnail

From the Economist: “It has become fashionable to claim that the world is running out of oil and gas. Several alarmist books have just been released, ranging from economist


Mr. Sandman, Bring Me Some Oil

Mr. Sandman, Bring Me Some Oil thumbnail

The flow of oil extracted from Alberta’s tar sands, also called oil sands, surpassed one million barrels a day at the end of 2003, and it is expected to double to two million barrels by 2010, matching the output of significant members of the Organization of the Petroleum Exporting Countries like Libya and Indonesia. NYT


Then again maybe not…

Then again maybe not… thumbnail

After the hype over the new Mexican oilfield discovery, a little reality check on the details and the motive behind the announcement. MEXICO CITY, Aug. 30 — Officials at Mexico’s state-owned oil monopoly said Monday that the company has detected massive new oil deposits in the Gulf of Mexico that could potentially double the country’s […]


Houston, we have a Yukos problem

Houston, we have a Yukos problem thumbnail

The crucial consequence of Moscow’s campaign to nail Yukos, the country’s leading oil producer, is the end of any possible energy alliance between Russia and the US, according to European Union diplomats and officials …

Asia Times


China’s Stockpile of Oil Helps to Bolster Prices

China’s Stockpile of Oil Helps to Bolster Prices thumbnail

Evidence is mounting that China is buying more oil than it consumes, raising fears that oil hoarding may be supporting the current high price of crude. The signs of aggressive Chinese stockpiling emerge from research by Merrill Lynch, the investment bank, which suggests that China is importing crude and refined products at twice the rate […]


Mexico reports huge new oil deposits in Gulf of Mexico

Mexico reports huge new oil deposits in Gulf of Mexico thumbnail

Luis Ramirez, Pemex’s director for exploration, said the discovery could double the nation’s known crude oil reserves from 48 billion barrels to 102 billion barrels. “Now those are estimate reserves,” a Pemex source said. “When they are proven, we will reach the same level as Iran or Iraq.”

Japan Today


Get Ready for the Peak Experience

Get Ready for the Peak Experience thumbnail


Thanks to the collusion of industry, financial and government interests, the coming decline in oil production is portrayed as so impossibly far off in the future that there is no sense talking about it


Coal does not escape rising energy prices

Coal does not escape rising energy prices thumbnail

Coal, traditionally a bright spot in the utility industry, is starting to leave a smudge on electricity bills. Published on Saturday, August 28, 2004 by The Post and Courier US: Coal to fuel big jump in energy bills By Kyle Stock Coal, traditionally a bright spot in the utility industry, is starting to leave a […]


Oil exports from southern Iraq halted due to attacks

Oil exports from southern Iraq halted due to attacks thumbnail

BASRA, Iraq – Oil exports from southern Iraq have been halted because of attacks on pipelines and are not likely to resume for at least a week, a senior Iraqi oil official said Monday.

freep


The end of false progress (food and post-petroleum reality)

The end of false progress (food and post-petroleum reality) thumbnail

“What will be the alternative to today’s consumerism and fear of material insecurity? This essay looks toward the next mainstream culture: Life after petroleum-culture collapse. To help explain today’s lack of preparation for fundamental change, we examine historical practices particularly in Europe. This installment focuses on the history of food production vis-


Solving Bush

Solving Bush thumbnail

Thirteen years ago Papa Bush employed a similar tactic during the Persian Gulf War. Oil prices crashed.

Sometimes politicians have to act like short-term traders and weigh in when least expected. In the political mind


Saudi to use extra oil income to repay public debt

Saudi to use extra oil income to repay public debt thumbnail

Ibrahim al-Assaf said that the cabinet and the supreme economic council had agreed to “use the budget surplus this (financial) year to repay some of the public debt,” Al-Eqtisadiah newspaper reported.

Channel News Asia


Lee Raymond (CEO Exxon) on Oil

Lee Raymond (CEO Exxon) on Oil thumbnail

You’ve said the natural decline in oil supplies is misunderstood


Russia reassures China on flow of oil

Russia reassures China on flow of oil thumbnail

MOSCOW – Russian Prime Minister Mikhail Fradkov pledged Friday that Russia would keep meeting its oil export commitments to China, an apparent reference to fears that a cut in production at the beleaguered Yukos oil company could harm its neighbor.

chron


High oil prices here to stay: IEA

High oil prices here to stay: IEA thumbnail

This interview with IEA oil analyst Antoine Halff was shown on a well-watched public television show in Australia this morning.

Inside Business


Turkey Oil – a rose by any other name…

Turkey Oil – a rose by any other name… thumbnail

Citizens ask council to get tough on RES By Dennis W. Sowers Of The Press Staff Local residents drew the line in the sand Tuesday night, asking the Carthage City Council to keep Carthage and its RES plant foul odor-free. More than 50 people, accompanied by 600 signatures, stated emphatically and emotionally that the odor […]


A Week Without Dinosaurs

A Week Without Dinosaurs thumbnail

Honda’s Experimental Hydrogen Car Requires Not a Drop of Fossil Fuel. The Technology May One Day Clear Our Skies–and Our Collective Conscience. By Dan Neil, Times staff writer Dan Neil last wrote for the magazine on driving a Ferrari in L.A. An ancient Hindu myth held that the world rides on the back of an […]


Lebanese worried that Hydrogen Tycoons will supplant oil industry

Lebanese worried that Hydrogen Tycoons will supplant oil industry thumbnail

A recent 500-page report by America’s National Academy of Science concluded that “hydrogen has the potential for replacing essentially all gasoline and eliminating almost all CO2 from vehicular emissions over the next 50 years.

Lebanon Daily Star


Major oil, natural gas findings reported

Major oil, natural gas findings reported thumbnail


China National Petroleum Corporation Xinjiang Oilfields Company has announced major breakthrough in exploring and determining high-yield petroleum and natural gas flows for industrial use in four new prospecting wells

China Daily


B.C. plan to tap natural gas in controversial coalbed flops

B.C. plan to tap natural gas in controversial coalbed flops thumbnail

Western Canada’s conventional natural gas has been in decline since about 2001/2002. The National Energy Board of Canada has placed great hope on coal bed methane to offset this decline. BUT, according to the National Post, no bids were received for coal bed methane rights in British Columbia as industry thought it would be too costly to extract even at high prices. However, exploration for coal bed methane continues in BC. by the majors. Alberta has better potential.

Canada National Post


Why Is Mike Ruppert Promoting the ‘Peak Oil’ Scam?

Why Is Mike Ruppert Promoting the ‘Peak Oil’ Scam? thumbnail

Just when the Peak Oil message seems to be entering global consciousness, it is being attacked as pure politics. Why? In the foregoing, the author uses the shut down of a Shell Oil refinery in Bakersfield California as evidence that oil companies are engineering an energy scarcity for the purposes of reaping huge profits. ————————————————————- […]


9-11 and peak oil: connecting the dots

9-11 and peak oil: connecting the dots thumbnail

By Carolyn Baker Online Journal Contributing Writer August 25, 2004In a July article, Kaminski criticizes 9-11 truth seeker Mike Ruppert for his more recent focus on peak oil. Kaminski writes: ” . . . he has effectively hijacked a large segment of the 9/11 truth movement into a discussion of peak oil concerns, and his […]


Impact Of Oil Output Fall At Ageing Fields Seen As Acute

Impact Of Oil Output Fall At Ageing Fields Seen As Acute thumbnail

“Depletion has become a serious issue for the oil market, and I believe it is contributing to market tightness,” said Chris Skrebowski, editor of the London-based Energy Institute’s Petroleum Review. Skrebowski has studied the issue using data from BP PLC’s (BP) widely-read Statistical Review of World Energy data. “What it means is that before you meet a single barrel of demand growth you have to replace all the missing barrels,”

Yahoo


[Canadian] East coast oil dream runs dry

[Canadian] East coast oil dream runs dry thumbnail

“Nova Scotia’s struggling offshore energy sector suffered a potential death blow yesterday with the closure of the only remaining well slated to be drilled by a major oil company…”

Canada
National Post


Liquid Natural Gas to rescue us from Peak Oil

Liquid Natural Gas to rescue us from Peak Oil thumbnail

Still, it will be surprising if LNG imports do not ultimately lower American gas prices below $5 per mBtu from today’s over $6. LNG is usually profitable at $3.50 (BG, a British firm, says it is profitable at $2.50), so there is plenty of incentive to invest in capacity at today’s prices The future’s a […]


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