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News from September 2004

Why Africa keeps fighting over oil

Why Africa keeps fighting over oil thumbnail

Peace talks continued in Nigeria Thursday between the government and the leader of a militia group.

By Michael Peel | Correspondent of The Christian Science Monitor

LAGOS, NIGERIA


Kerry: Oil prices show Bush broken promises

Kerry: Oil prices show Bush broken promises thumbnail

SPRING GREEN, Wisconsin (AP) — Democratic Sen. John Kerry said Wednesday the $50 per barrel price of oil reflects a broken promise of President Bush that will hurt average Americans. Bush said Iraqi oil “would pay for the war, but we know that those oil pipes are being blown up,” Kerry said. “We know that […]


The man who foresaw skyrocketing oil prices

The man who foresaw skyrocketing oil prices thumbnail

In a world dominated by self-censorship, only the brave speak out. But in a world running on cheap energy, with all the consequences that it brings, only those who value their integrity above their wallet are worth listening to. Back in April one man, Iranian oil and energy analyst and expert Ali Bakhtiari did just […]


Natural gas supply fears raise prices

Natural gas supply fears raise prices thumbnail

Natural gas prices have jumped 17% in two days, a chilling development for the millions of Americans who heat their homes with natural gas. The price for a million British thermal units of natural gas trading in New York for delivery in November rose 56 cents, or 8.8%, to $6.911 Wednesday as supply jitters rattled […]


U.S. Politician in House: No Oil shortages.

U.S. Politician in House:  No Oil shortages. thumbnail

WASHINGTON – As oil prices climb to record highs above $50 per barrel, some have asserted that we are “running out” of this resource. In truth, we are not running out of oil in America. We can safely increase domestic production by at least 17.2 million barrels per day by 2030. Source


Shortage of the political will

Shortage of the political will thumbnail

According to House Resources Committee Chairman Richard W. Pombo (R-CA) said. “Washington has a shortage of the political will required to let American workers go get it. We have not increased domestic supply in thirty years. As a result, our dependence on foreign oil has skyrocketed to the point where we are sending $200 billion […]


Saudi Arabia Wants Russia Help Managing Oil Prices

Saudi Arabia Wants Russia Help Managing Oil Prices thumbnail

Saudi Arabia, one of the world’s largest oil producers, has called for coordination with Russia to react to the consequences of fluctuations in oil prices on the world market. http://www.interfax.ru/e/B/0/28.html?id_issue=1070745009-30 07:25: Saudi Arabia Wants Russia Help Managing Oil Prices-Agency MOSCOW -(Dow Jones)- Saudi Arabia, the world’s largest oil producer, has asked Russia for help coordinating […]


Oil shortage or surplus? Ask shortage of what oil?

Oil shortage or surplus? Ask shortage of what oil? thumbnail

Many refineries are not set up to process abundant heavy crude oil because it is more difficult, expensive to refine into products.MiddleEastOnline


IMF says expensive energy is here to stay

IMF says expensive energy is here to stay thumbnail

The International Monetary Fund yesterday issued a warning that record oil prices will stunt the growth of the global economy next year and oil prices are likely to remain high for 10 years or more. Guardian


Peak Oil on CBC radio

Peak Oil on CBC radio thumbnail

CBC radio had on Linda McQuaig this morning who did a good job in my opinion of covering the issues about how oil factored into the Iraq war. Peak Oil came up and was discussed seriously.

CBC Radio TheCurrent


Oil Drawing Hedge Funds

Oil Drawing Hedge Funds thumbnail


Oil could hit $60 a barrel as hedge funds gear up to return to the only major asset market currently offering the strong fundamentals, clear trading direction and speculative scope they love.

Reuters


The $50 barrier

The $50 barrier thumbnail

The rise and rise of oil prices should force India to rethink its energy strategy

http://www.indianexpress.com/full_story.php?content_id=56052


Is there life after $50 a barrel?

Is there life after $50 a barrel? thumbnail

“The number one issue facing the customer today is, in fact, energy prices,” said Lee Scott, chief executive officer of Wal-Mart Stores, at an analyst conference earlier this month.

Seattle Times


Nigerian army warns oil rebels

Nigerian army warns oil rebels thumbnail

Nigeria’s military has warned an armed group in its oil-producing area it will take off the “kid gloves” unless the militia stops threatening oil workers.
The militia said foreign oil companies must cease production or face “all-out war” in the Niger Delta from 1 October.

http://news.bbc.co.uk/1/low/world/africa/3695990.stm


Summary: What’s Driving Oil Prices?

Summary: What’s Driving Oil Prices? thumbnail


REALITY CHECK: Adjusting for inflation, $50 oil is more than $30 below prices in 1981.

Forbes | AP


US, China face off for Saudi oil supplies

US, China face off for Saudi oil supplies thumbnail


Doomsayers stir debate on future of oil

Doomsayers stir debate on future of oil thumbnail

As he sat last month in his book-lined study, Colin Campbell got a phone call that made him shriek with joy.
“Holy Mother!” he yelped after he put down the receiver. “The good ol’ moment’s arrived!”

Baltimore Sun


Production Management, Security of Demand, and Market Stability

Production Management, Security of Demand, and Market Stability thumbnail

Middle East Economic Survey by Adrian Lajous The following paper was presented at the OPEC International Seminar, Vienna, 17 September 2004. The author is Chairman of the Oxford Institute of Energy Studies. The prevalence of spare capacity in the global crude oil market, as well as the willingness and ability to make effective use of […]


Nothing OPEC can do to bring oil down – Purnomo

Nothing OPEC can do to bring oil down – Purnomo thumbnail

Indonesian President and Oil Minister Purnomo today states in a short piece from Reuters: “”At the moment there’s nothing we can do. OPEC has spare capacity, however, whatever we do there is no sensitivity in the market”. He further asserts without elaboration that “OPEC has the ability to add output. There is around 1.5 million […]


The Peak Oil Debate: Crisis Or Comedy?

The Peak Oil Debate: Crisis Or Comedy? thumbnail

Matt Simmons Presentation – VIEW THISSimmonsco


How high will oil prices go?

How high will oil prices go? thumbnail

A long-simmering debate in the oil industry over the long-term outlook for oil production is heating up with every fresh rise in the price of crude. With supplies squeezed, demand continues to grow By John W. Schoen Senior Producer MSNBC Updated: 7:52 a.m. ET Sept. 28, 2004 The reasons for the recent relentless rise in […]


Dubai builds for a future when oil supplies run dry

Dubai builds for a future when oil supplies run dry thumbnail

From FT: “Its decision in 2002 to allow foreign ownership of property did not make every Emirati Arab happy. Already the tiny local population is outnumbered in the UAE by four to one. But it was deemed a vital step in securing a future for Dubai when the oil runs out in 2010.”FT


Depopulating Asia

Depopulating Asia thumbnail

transcript: Sly Foxx Morning Show, Robert’s Creek Community Radio Sept 27 04 9:07AM Sly: Welcome back gang for our final segment this morning and our guest, long time Creeker and now surprisingly famous global futurist, Stan Doffish of Pacific Fringe Consulting. Hi Stan good to see ya again. Stan: I was misquoted in the Vancouver […]


Ecological issues fuel Planet In Focus festival

Ecological issues fuel Planet In Focus festival thumbnail

It’s a good sign for the future of the Earth that attendance at Planet Focus: International Environmental Film & Video Festival has increased seven-fold since its inception in 2000. Two of the festival films most urgently demanding an audience are The End Of Suburbia: Oil Depletion And The Collapse Of The American Dream, by Toronto […]


SPE: Saudi Aramco aims at sustained deliverability

SPE: Saudi Aramco aims at sustained deliverability thumbnail

Contrary to recent speculation about an imminent sharp decline in Saudi Arabian oil production capacity, Nasen G. Saleri, manager-reservoir management of Saudi Aramco, told participants at the Society of Petroleum Engineers Annual Technical Conference and Exhibition in Houston Monday that Saudi Aramco is pursuing a strategy of maintaining low depletion rates in its fields of […]


Crude oil breaches $50 a barrel

Crude oil breaches $50 a barrel thumbnail

World oil prices ruptured fresh records on Tuesday, as US light crude punched through the $50 a barrel mark. US light crude leapt to $50.35 a barrel in Asian trade by 0450 GMT on Tuesday, steaming past its record close of $49.64 in New York on Monday night. …. World oil prices ruptured fresh records […]


How high will oil prices go?

How high will oil prices go? thumbnail

One camp believes that while short-term disruptions will continue to produce price spikes, the world still has plenty of oil. But the other camp argues that oil production is near The reasons for the recent relentless rise in crude oil prices are pretty straightforward


Oil price hits $US50 a barrel!

Oil price hits $US50 a barrel! thumbnail

Crude oil futures hit $US50 in electronic after-hours trade in New York, setting a new record as supply worries intensified. In regular trading the November benchmark contract for light sweet crude on the New York Mercantile Exchange rose 76 US cents to $US49.64 a barrel, the highest closing price in the 21 year history of […]


Not if, but when: Oil production peak will bring hard transition

Not if, but when: Oil production peak will bring hard transition thumbnail

A Register-Guard Editorial


By a happy coincidence, the day after The Wall Street Journal featured Colin Campbell on its front page with a headline characterizing him as a “doomsayer,” one of Campbell’s closest collaborators visited Eugene.
Jean Laherr


Doomsayers stir debate on future of oil

Doomsayers stir debate on future of oil thumbnail

Campbell and Lynch duke it out in this registration/BugMeNot requiring article.

Baltimore Sun


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Or simply: We have no clue. #peakoil #demand twitter.com/WoodMackenzie/…

@PaulGambles2 @CNBCJou @JMJancovici To be clear, not asking for predictions, but a hedge vs #peakoil. Fair bet policy makers are behind & will be overwhelmed. #antifragile

@PaulGambles2 @CNBCJou Cruel irony is, #peakoil may kick in after it's too late to prevent #climatechange. double whammy/hysteresis. @JMJancovici