News from August 2004

YES! Magazine Issue – Can We Live Without Oil?

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

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

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?

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

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

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

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…

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

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

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 [...]