Russian Oil Production May Grow Only 2.4% in 2005

A new government forecast shows Russian oil production this year could grow by as little as 2.4% to 9.42 million barrels a day, as increased state pressure on the oil business has caused a drop in investment. The preliminary outlook, released this week in a quarterly report from the Ministry of Economic Development and Trade, […]

Is There Fraud in the House of Saud?

On April 22, Saudi Arabia made what appeared, on the surface at least, to be a dramatic announcement. Forget quotas, the Saudis proclaimed. They would pump all the oil consumers wanted up to its current capacity of 11 million barrels a day. And, to make sure that the world would have enough supply in the […]

Jim DiPeso on America’s Energy Future

It was truly refreshing talking to a Republican who shares my concerns about the environment, peak oil and America’s floundering, stuck-in-the-20th century energy policy. I am sure there are issues we differ on, but on this one, we are very much in harmony. What precipitated my call to REP’s policy director, Jim DiPeso was an […]

Bush energy advisor puts Peak Oil on world agenda

We can only mitigate the impact of Peak Oil. But it will be much easier to take steps such as building a truly effective public transport system and a national rail system, which use a lot of energy to build but not much to run, while energy is still relatively cheap. We need to stop […]

Oil, Jihad and Destiny: Chapter 2: Industry Analysis

Web note(from financialsense.com): Mr. Cooke has graciously offered to include Chapter 2 of his book, Oil Jihad and Destiny. Energy, and more specifically oil, is one of the most crucial topics for this new century.

Edinburgh Peak Oil Conference

This was an excellent event, with Brian Willson, Colin Campbell, Chris Skrebowski, Matthew Simmons, David Spaven and Jeremy Leggett all speaking on the subject of oil depletion. [editors note – article written by peakoil.com member clv101] Here is my writeup[180KB]: Peak_Oil_UK_Edinburgh_April05.pdf [note – requires Adobe Reader]

Oil industry faces uncertain future

On the surface, Ecuador’s oil sector seems as if it’s thriving. Production is close to 530,000 barrels per day — on par with Colombia — and, with help from a recently constructed pipeline, exports are about 400,000 b/d. Revenue from oil sales accounted for the bulk of the 6 percent rise in GDP last year. […]

Oil in Troubled Waters

The surge in oil prices, from $10 a barrel in 1998 to above $50 in early 2005, has prompted talk of a new era of sustained higher prices. But whenever a Economist.com

Oil Companies Halt C$7 Bln Arctic Canada Pipeline

Oil companies planning North America’s first major Arctic natural gas pipeline slammed the brakes on the C$7 billion ($5.6 billion) project on Thursday, blaming the slow pace and complexity of the regulatory process.

The companies said they were still committed to the Mackenzie Valley project, but the move adds more uncertainty to a development that has been several decades in the making, and is viewed as a key piece in the puzzle of meeting the continent’s growing demand for gas.

Reuters

Higher Oil Prices Hit US Economy

The US economy expanded at its slowest pace in two years in the first three months of 2005, official figures show. Gross domestic product (GDP) grew at an annual rate of 3.1%, as consumers and businesses tightened their belts in the wake of rising energy prices.BBC News

IEA Says Saudi Arabia’s Plans to Increase Oil, Gas Production ”Very Convincing’

The head of the International Energy Agency (IEA), Claude Mandil, on Thursday said that Saudi Arabia’s plans to increase its oil and gas production capacity are”extremely convincing”. Mandil said at a news conference that the comments made by Saudi Oil Minister Ali al-Nuaimi last week in Paris that Saudi Arabia would use its excess capacity […]

Global Competition for Future Energy Supplies Heats Up

Soaring demand for crude oil in China, India and other developing nations has set off a scramble to secure future energy supplies that could undermine the economic and national security of the United States. The United States, Europe and Japan increasingly will be forced to compete with developing nations, especially China and India, the world’s […]

OPEC Exports Seen Down 160,000 B/D on Week to May 14

Organization of Petroleum Exporting Countries’ shipments of crude oil are expected to fall 160,000 barrels a day on the week in the week ending May 14, a leading shipping analyst said Thursday. Roy Mason of shipping consultants Oil Movements expects OPEC exports by ship to fall to 24.36 million b/d for the week ending May […]

IEA to Consumers: Plan Now for Potential Oil Shock

Car-pools and driving restrictions could help shave at least a million barrels a day (bpd) from industrialized nations’ oil demand in the event of a supply crisis, the International Energy Agency said on Thursday. They are among measures an IEA study ‘Saving Oil in a Hurry’ says consuming nations must plan to ease potential shortages […]

Iraq’s Ahmad Chalabi: He’s Now Mr. Oil

Iraq failed to name an oil minister for its new government on Thursday and controversial politician Ahmad Chalabi was appointed acting minister of an industry plagued by sabotage attacks and uncertainty. Chalabi, speaking to Reuters by telephone shortly after his appointment, said he might only be in the job for MSNBC

Bush energy plan includes N-plants

He also called for building more nuclear power plants, along with the refineries, saying that industry needs to be assured that such facilities can be approved without lengthy permit reviews. And he called for Congress to enact $2.5 billion in tax breaks over 10 years for people who buy gas-electric and clean-diesel automobiles.

Buffalo News

U.S. must invest in alternative energy to secure our future

Like House Speaker J. Dennis Hastert [“Democrats blocking road to cheaper fuel,” Commentary, April 20], I am concerned that at the start of another summer driving season, families in Illinois are once again feeling the pinch at the gas pump, and that we are facing an energy crisis that is truly a matter of national […]

Unstable oil economy must go

It is only a matter of time. Consider the possibility of waking to the news one morning that terrorists have blown up a supertanker carrying oil anywhere in the world and are threatening to sabotage more tankers. Then consider the panic that would set in – driving up the price of oil to heights we […]

Timing is everything

The news stories on the Crown Prince

The Politics of Peak Oil and Fascism

Peak Oil is a paradigm shift. People will be forced to look at their lifestyles and the way they conduct their day to day living. Indeed, as many predict, this shift may well be from that of somewhere above abundance to that of somewhere above subsistence. I personally do not think that is such a bad thing if it weans us off materialism but still provides us with a living where legitimate needs are still adequately met.

New Era Investor

Electric bus promises India eco-friendly ride

The Indian Institute of Technology (IIT), Delhi, has developed an electric bus that can be a boon for the country’s polluted cities and towns dependent on diesel-run public transport. The battery-operated bus can carry about 150 people at a top speed of 65 kmph and cover about 160 km at one go. The vehicle runs […]

Report outlines California

A new report by a US-based environmental research group has outlined how solar power technology can become affordable for the average homeowner in California in just over ten years. The study, by Environment California Research and Policy Centre, estimates that the cost of solar could lower to a point where it would need no government […]

Shell profits lifted by record oil prices despite production drop

Energy giant Royal Dutch/Shell posted a 28-percent increase in first-quarter net profits to 5.548 billion dollars (4.293 billion euros), as soaring oil prices outweighed declining production. Oil and gas output fell 5.3 percent to 3.847 million barrels per day during the three months to March, Shell said in an official statement. Chief executive Jeroen van […]

Denial of our oil addiction is costing us plenty now

“Bush and Saudi Meet at Ranch to Discuss Oil,” a headline reads. “No Quick Relief Is Seen From Higher Prices.” Oooo. I don’t know about that. Quick relief is right around the corner at certain car dealerships. All you have to do is trade in your Ford Expedition for a new Toyota Prius, and presto, […]

Energy tycoon Pickens predicts $3 gasoline within year

Apr 28, 2005 (Tulsa World – Knight Ridder/Tribune Business News via COMTEX) — Energy tycoon Boone Pickens is known for making bold predictions about the price of oil and gas. He’s been right most of the time. Pickens’ latest prediction, though, may leave motorists a bit bug-eyed. World oil production has peaked, and Oklahomas will […]

1970s Stagflation? Not Today’s Reality

Waves of conflicting economic data and lower revisions to economic growth have caused turbulence in the U.S. financial markets these past two weeks. Some analysts and commentators are concluding that a period of stagflation is here. Stagflation was a phenomenon of the 1970’s economy, which was characterized by closed borders, stiff regulation and slow growth. […]

Australia and East Timor Closer to a Deal on Timor Sea Oil and Gas

Australia and its tiny neighbour East Timor are moving closer to a deal on sharing billions of dollars’ worth of oil and gas reserves under the Timor Sea. With talks due to wind up later in Dili, the two sides are discussing an agreement that would allow work to start on the Greater Sunrise oil […]

Williams: Gas Producers No New OPEC

ALREADY supplying more than 70 per cent of the United States’ LNG demands, Government intends to do whatever it can to maintain a healthy commercial relationship with the world’s largest energy consumer. “We want to ensure commercial viability and we will do what we can to ensure commercial viability with the United States,” Energy Minister […]

Bush is Blowing Smoke on Energy

Hitting all the points in a noted GOP pollster’s playbook, the President’s plan is driven by politics not policy. Worse, it won’t cut oil dependency.BusinessWeek.com

Oil: Small Biz Takes a Big Hit

Rising energy prices are taking their toll on everyone from individual consumers to international conglomerates. But for the nation’s 22 million small businesses, soaring fuel costs have been especially painful.BusinessWeek.com

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