Register

Peak Oil is You


Donate Bitcoins ;-) or Paypal :-)


News from October 2007

Reliance signs northern Iraq oil contract – source

Reliance signs northern Iraq oil contract – source thumbnail

Even as Turkish troops mass on the border of northern Iraq, India’s Reliance signed a deal on Monday to explore for oil and gas in Iraq’s Kurdish region, a senior company official said. Reliance signed the production sharing contract for two exploration blocks with the semi-autonomous Kurdish Regional Government (KRG), the source said. “To begin […]


Barzani ignores Turkey’s PKK orders

Barzani ignores Turkey’s PKK orders thumbnail

Iraq’s Kurdish leader Massud Barzani has said he will not follow Turkey’s orders to crack down on Kurdistan Workers Party (PKK) rebels. “You do not speak to me, then you ask me to do things against the PKK. How can this be?” Barzani said. “I am a friend of Turkey but I am not taking […]


UK Interview with Chairman of Shell UK

UK Interview with Chairman of Shell UK thumbnail

JEFF RANDALL: What do you mean by peak oil? JAMES SMITH: Well that somehow people are saying that oil is running out, as part of your question, I don’t think that’s the case. Probably the easy oil has been found, the big fields with the light crude that’s easy to produce and what we are […]


Will US Withdraw From Iraq And What Would Be The Consequences?

Will US Withdraw From Iraq And What Would Be The Consequences? thumbnail

The US policy in Iraq is not going to change significantly in the short-term simply because it cannot change. For the US to continue to be a superpower, it must constantly prove itself as a military superpower. Losing Iraq to the Mullahs in Tehran would be a disaster. The Mullahs would immediately realize that nobody […]


Oil production has peaked, prices to soar – Sadad al-Huseini

Oil production has peaked, prices to soar – Sadad al-Huseini thumbnail

Sadad al-Huseini says that global production has reached its maximum sustainable plateau and that output will start to fall within 15 years, by which time the world According to al-Huseini the technical floor – the basic cost of producing oil excluding factors such as geopolitical risk and hedge fund speculation – is currently about $70 […]


Dollar losing currency among Opec nations

Dollar losing currency among Opec nations thumbnail

Once upon a time, the greenback was king. Back in the day, long before pink-toned fifty dollar bills and larger presidential heads, the dollar was the currency everyone around the world could instantly recognise. But, with the rise of the euro, the appeal is to using a basket of currencies and, of course, the dollar’s […]


A Dose of Reality for NPC

A Dose of Reality for NPC thumbnail

Where EOR Succeeds and Where it Does Not The October 1 Commentary showed a huge discrepancy between the National Petroleum Council Shell


The Music of the Gears

The Music of the Gears thumbnail

FOR sanity The composers offered an answer one recent Friday evening with a piece called


Yergin: Oil Prices Becoming Decoupled

Yergin: Oil Prices Becoming Decoupled thumbnail

“Oil prices are becoming increasingly decoupled from the fundamentals of supply and demand,” Dr. Daniel Yergin, chairman of Cambridge Energy Research Associates (CERA), said today in Washington D.C. “With prices over $90 a barrel and strong anticipation of $100, the oil market is showing signs of high fever, stoked by fears of clashes in the […]


Please don’t blame us for $93 oil: OPEC

Please don’t blame us for $93 oil: OPEC thumbnail

LONDON (Reuters) – OPEC has no power over many of the factors buffeting oil markets and the group is worried by record high prices that are threatening the world economy and future demand growth, OPEC ministers said on Tuesday. “Please don’t blame us for $93 oil,” Qatari Oil Minister Abdullah al-Attiyah told reporters on the […]


Indonesia – Politics of the oil subsidy: Who benefits?

Indonesia – Politics of the oil subsidy: Who benefits? thumbnail

Recently oil prices in the world have reached US$90 per barrel resulting in increasing retail oil prices in almost all countries. Consumers in Indonesia probably pay little attention to the skyrocketing prices because they enjoy heavy fuel subsidies from the government. For example, gasoline in Indonesia is set at Rp 5,000 (US$55 cents) per liter, […]


Report: Cambodia vulnerable to rising oil prices

Report: Cambodia vulnerable to rising oil prices thumbnail

A sharp rise in the consumer price index (CPI) can be directly attributed to higher prices of gasoline, while Cambodia has been found to be extremely vulnerable to rising oil prices by the United Nations Development Program (UNDP), local press reported Tuesday.Economist Sok Sina told the Cambodia Daily that the increased cost of gasoline has […]


Africa: High Oil Prices Bad

Africa: High Oil Prices Bad thumbnail

As I write the price of oil futures are still above $85 per barrel after a retreat following a high of just more than $90. Ten years back, oil was trading at below $ 30 per barell. With most African economies being importers of oil, this is a real risk to may African investors, though […]


Developing Countries Poised to Lead the Biofuel Market

Developing Countries Poised to Lead the Biofuel Market thumbnail

Malaysia, Thailand, Colombia, Uruguay and Ghana are poised to become the world leaders in biodiesel production, according to a new study. That’s surprising, since the United States is the world’s leading producer and exporter of soybeans, a major source for biofuel — a promising short-term alternative to fossil fuels. The U.S. harvested 3.1 billion bushels […]


Inflation ‘on the rise’ in Middle East, central Asia oil exporters – IMF

Inflation ‘on the rise’ in Middle East, central Asia oil exporters – IMF thumbnail

The International Monetary Fund has warned against rising inflation in the Middle East and central Asia, particularly in oil exporting nations. ‘Fueled by strong demand growth, large external inflows and generally accommodative monetary policies, average inflation in the region has picked up to 8-9 pct,’ the IMF said in its regional economic report released today.In […]


No real alternative to oil: Rise in demand seems unavoidable

No real alternative to oil: Rise in demand seems unavoidable thumbnail

Interest in alternative, sustainable energy sources has never been stronger. Yet, despite accelerating investment, the output capacity of these energy forms remains barely more than embryonic. Fossil fuels, reliable and accessible, will continue to provide more than 90 percent of global commercial energy needs to 2030, according to the Organization of Petroleum Exporting Countries.Leo Drollas, […]


Oil sands seen as ‘threat No. 1,’ as U.S. may target dirtier fuels

Oil sands seen as  ‘threat No. 1,’ as U.S. may target dirtier fuels thumbnail

Canadian oil sands producers should brace for further bad news – this time from south of the border, as the U.S. government moves toward a national climate change policy that could target dirtier fossil fuels such as the oil sands bitumen, a former U.S. energy official said yesterday. His warning was issued yesterday at a […]


Something’s Got to Give

Something’s Got to Give thumbnail

$90 oil may one day seem like the good old days In the decade ahead, that More Demand, Less Supply As oil has zoomed past $90 per barrel recently, analysts and pundits have pointed to speculation and geopolitical tension in the Middle East and Nigeria. While these factors play a role, especially short term, the […]


National Academy of Science Panel urges Bush to drop nuke waste plan

National Academy of Science  Panel urges Bush to drop nuke waste plan thumbnail

A panel of the National Academy of Sciences urged President Bush on Monday to abandon an ambitious plan to resume nuclear waste reprocessing that is the heart of the administration’s push to expand the civilian use of nuclear power. A 17-member panel of the Academy’s National Research Council said the proposed Global Nuclear Energy Partnership, […]


Australian Drought Hits Farmers Hard

Australian Drought Hits Farmers Hard thumbnail

SYDNEY – Australia, already the world’s driest inhabited continent, is gripped by its worst drought in 100 years which has decimated crops and created a crisis among its farming community. Triggered by an El Nino weather condition, drought first hit in 2002, appeared to break in 2003, returned in 2006, appeared to break in early […]


Pollution blamed as China confronts surge in number of deformed babies

Pollution blamed as China confronts surge in number of deformed babies thumbnail

An alarming rise in birth defects was acknowledged by China yesterday, amid concern that heavy pollution is damaging the country Officials said that the increase reported by the National Population and Family Planning Commission may, in part, reflect an improvement in the collection of data from rural areas. In addition, families were becoming less reluctant […]


US Survey Ties Biofuels to High Food Costs, Hunger

US Survey Ties Biofuels to High Food Costs, Hunger thumbnail

Six in 10 Americans believe the use of corn to make ethanol has raised food prices and caused more people to go hungry, the latest evidence of a growing global backlash against alternative “green” fuels. The Hormel Hunger Survey released on Monday also showed 53 percent of Americans polled believe government subsidies for ethanol production […]


Costly oil pushes gasoline to 14-month high

Costly oil pushes gasoline to 14-month high thumbnail

WASHINGTON (Reuters) – The effect of high crude oil prices continued to pinch consumers at the pump, with the average cost for gasoline rising 4.9 cents to the highest level in 14 months and diesel fuel soaring 6.3 cents to match the record set two years ago, the government said on Monday. The national price […]


Oil nears $100 mark as crude reaches yet another record

Oil nears $100 mark as crude reaches yet another record thumbnail

Oil prices moved a step closer to the $100 a barrel mark yesterday as supply disruptions in Mexico, the weak dollar and the threat of attacks on oil facilities in Sudan pushed crude to another record high. US light crude soared to $93.20 a barrel before settling at $92.59, up 73 cents. In London, Brent […]


Mideast oil and Chinese arms

Mideast oil and Chinese arms thumbnail

A Chinese aviation industry official says the country is introducing a new batch of military equipment to the international market. This includes an FBC2 fighter-bomber, an upgraded version of its JH7A fighter, intended for export. China is now promoting its FBC2 and J10A fighters to Iran. The J10A was officially offered on the overseas market […]


Global gas consumption has doubled since 1990

Global gas consumption has doubled since 1990 thumbnail

DOHA The first structural change in international gas markets included the shifting from a “managed era” dominated by state-owned oil and gas firms and large energy utilities. “In the 1990s and early 2000s, there has been integration of large international gas players (ExxonMobil for example). There are large electricity and gas groups, a focus on […]


Options could help drive crude oil to $100

Options could help drive crude oil to $100 thumbnail

LONDON (Reuters) – Activity in U.S. crude oil options has played a big part in oil’s climb above $90 a barrel and could help U.S. crude break the $100 mark. “We continue to view option hedging as one key driver to the direction of…futures,” said Olivier Jakob, of oil market consultancy Petromatrix. “We’ve gone through […]


Battery leases make comeback; electric car conspiracy fans take note

Battery leases make comeback; electric car conspiracy fans take note thumbnail

There are a lot of people who are convinced that established automakers and oil companies, along with some support from dealers, conspired together to kill electric cars back in the ’90s. One of the most repeated points they try to make is that General Motors only leased its EV1 electric car to consumers. The theory […]


Oil barons turn to hi-tech solutions

Oil barons turn to hi-tech solutions thumbnail

Rising energy costs and uncertain reserves are prompting the oil industry to look to technology to increase output from existing fields and find new sources. The industry is gearing up for higher prices and is trying out new technological methods to extract the maximum from each well. Most fields yield only 35 per cent of […]


Connecticut Legislative Caucus Holds Peak Oil Hearings

Connecticut Legislative Caucus Holds Peak Oil Hearings thumbnail

Co-founders of the Connecticut Legislative Peak Oil and Natural Gas Caucus State Representative Terry Backer (Stratford) and Senator Bob Duff (Norwalk, Darien) announced an informational hearing will be held on November 1st 2007 12:30PM room 2A Legislative Office Building Hartford CT. According to Representative Backer and Senator Duff Peak Oil is the event when oil […]


« Previous PageNext Page »



Oil News Categories


Recent Board Topics


Archive


LATEST NEWS HEADLINES


PO Real Time

@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

It's going to come crashing down when #PeakOil, starts hitting the fan. Life as we're living it is unsustainable, fool's paradise! twitter.com/KieranSuckling…