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News from October 2009

Oil sector must think long-term

Oil sector must think long-term thumbnail

Positive news is not always an outright invitation for celebration. In fact, it calls for a little bit of caution and measured optimism. I am talking about the recent rally of crude oil prices with West Texas Intermediate passing the $80-per-barrel mark and prices generally rising for the past two weeks to reach the highest […]


Grand Arctic promises

Grand Arctic promises thumbnail

…The decisions are not in fact made by international bodies, since the body in question — the UN Commission on the Limits of the Continental Shelf — will not make recommendations concerning areas subject to overlapping claims. All the Commission does is assess the scientific evidence advanced in support of uncontested claims, with any coastal […]


The Peak Oil Crisis: $80 a Barrel

The Peak Oil Crisis: $80 a Barrel thumbnail

Last week oil broke out of a months-long trading range and surged to $82 a barrel. For many of us who remember $140 oil from the summer of ‘08 this might not sound impressive until you are reminded that every time oil (adjusted for inflation) broke $80 a barrel some sort of economic recession occurred. […]


Russian LNG Aims Face Big Challenges in Arctic Regions

Russian LNG Aims Face Big Challenges in Arctic Regions thumbnail

Russia, the world’s biggest gas producer, has invited international energy majors to help it realize its ambitions to conquer one-fifth of the global market for liquified natural gas by 2020, but experts say it could be more than a decade before new production comes onstream. Russia says it wants to beef up shipments of liquified […]


ConocoPhillips may sell some N. American properties

ConocoPhillips may sell some N. American properties thumbnail

ConocoPhillips said it is considering selling oil and gas properties in North America and in the North Sea, as well as pipelines and terminals in the U.S. and its 9 percent stake in Syncrude Canada, as part of a sweeping plan announced earlier this month to reduce company debts and improve shareholder returns, CEO Jim […]


Midwest farmer speaks on rural crisis, financial collapse

Midwest farmer speaks on rural crisis, financial collapse thumbnail

…”I’ve been farming for 37 years, and 7 years ago a Wall Street investor came and bought the farm that my family has farmed for 50 years. I then talked to the investor. He said, “Give me an extraordinarily high rent and you can continue to farm.” I said, “I can’t give you that kind […]


Reflections from ASPO: Contradiction, EROI, and Future Energy Supplies

Reflections from ASPO: Contradiction, EROI, and Future Energy Supplies thumbnail

One feature of this year Contradiction in this kind of academic setting magnifies the awareness of all involved by broadening the scope of the discussion. http://www.theoildrum.com/node/5908


Crude World

Crude World thumbnail

There Crude World serves as a warning to middle America


Statisticians reject global cooling

Statisticians reject global cooling thumbnail

In a blind test, the AP gave temperature data to four independent statisticians and asked them to look for trends, without telling them what the numbers represented. The experts found no true temperature declines over time. “If you look at the data and sort of cherry-pick a micro-trend within a bigger trend, that technique is […]


Obama

Obama thumbnail

(Bloomberg) — Companies that make smart meters, thermostats and other elements of an electric transmission system gained in New York trading yesterday as the U.S. announced an $8 billion upgrade to the nation Recipients will kick in the rest of the money. Most of the federal aid will go to utilities to install meters, transformers […]


Africa: Could regulation ease fears over land grabs?

Africa: Could regulation ease fears over land grabs? thumbnail

The ‘land rush’ across Africa by international investors should be regulated to protect smallholder farmers from deals that could leave them landless and hungry. Farmer organisations, civil society representatives and researchers at a debate at the European Development Days expressed concern about the impact of selling or leasing large tracts of land to foreign governments […]


Have We Reached Peak Oil?

Have We Reached Peak Oil? thumbnail

Stephen Harvey, the Director of the Oil and Gas Office at EIA, who supervises the Petroleum Division and the Reserves & Production Division kindly accepted to read my degree’s dissertation (How Peak Oil will Affect international Relations[6]) and give his feedbacks. In his email answer (that was not off the record), he declared that: “There […]


Truth must stand in Afghanistan

Truth must stand in Afghanistan thumbnail

As I read up on this murky war, the idea that the US is unleashing its might on the poverty-stricken country of Afghanistan to liberate its people – or even to counter terrorism – emerges as a little far-fetched. We know that the whole region is key to the West for its natural resources. I […]


UK: The palm oil scandal

UK: The palm oil scandal thumbnail

Most British manufacturers and retailers including Boots, Morrisons and Waitrose have done little to limit the environmental damage done by the production of the world’s cheapest vegetable oil, according to research published today. In a survey of leading European food and household firms, the World Wide Fund for Nature (WWF) said that only Sainsbury’s, Marks […]


UK: Oil-linked gas deals face harsh winter

UK: Oil-linked gas deals face harsh winter thumbnail

Europe’s traditional oil-linked gas contracts are under unprecedented pressure for reform as captive buyers face rising prices in a market that looks awash with cheap spot gas for years. A recession-driven gas glut and an unprecedented influx of liquefied natural gas (LNG) has seen European spot market prices sag well below oil-linked levels in 2009, […]


Will Ecuador's plan to raise money for not drilling oil succeed?

Will Ecuador's plan to raise money for not drilling oil succeed? thumbnail

In a country where oil extraction has a long, bloody, and contentious past, President Rafael Correa put forth a novel idea, known as the Yasuni-ITT Initiative. He announced in 2007 that he would not touch the oil if the international community compensated Ecuador. He said that leaving the oil would help achieve three international objectives: […]


The Relationship Between Energy Infrastructure Attacks and Crude Oil Prices

The Relationship Between Energy Infrastructure Attacks and Crude Oil Prices thumbnail

In December 2005, a video statement was aired on Al-Jazeera in which Ayman al-Zawahiri called for attacks aimed at oil facilities in the Middle East. In response, crude oil prices rose by nearly US $1. This incident is but one example in recent years when the oil market has responded to threats to energy infrastructure […]


Byron King: Peak Oil – The Risks

Byron King: Peak Oil – The Risks thumbnail

Eighty-five million barrels a day. That’s the world’s current production of crude oil…and that may very well be close to the world’s PEAK production of crude oil. Although the recession caused a temporary decrease in consumption, demand is already bouncing back toward pre-crisis levels. Too bad production isn’t. “Can’t we get more than 85 million […]


High-Energy Batteries Coming to Market

High-Energy Batteries Coming to Market thumbnail

A Swiss company says it has developed rechargeable zinc-air batteries that can store three times the energy of lithium ion batteries, by volume, while costing only half as much. ReVolt, of Staefa, Switzerland, plans to sell small “button cell” batteries for hearing aids starting next year and to incorporate its technology into ever larger batteries, […]


Russia to Top Record 2009 Oil Output Next Year

Russia to Top Record 2009 Oil Output Next Year thumbnail

Russia, which has now surpassed Saudi Arabia as the world’s largest oil producer, expects to top record 2009 output next year due to production from new oil fields, the deputy energy minister said Tuesday. Sergei Kudryashov predicted 2010 production would be more than 490 million metric tons, the official output forecast for 2009: “This has […]


What Adds Up to $80 a Barrel Oil

What Adds Up to $80 a Barrel Oil thumbnail

You would not know that we were in the midst of a modest economic recovery when examining the price of oil these days. At $80 a barrel, which we witnessed this past week, the price of the precious commodity is about $60 above its 20 year average. The math adds up for the region Prior […]


Solar Industry Takes on Coal and Oil Lobbies

Solar Industry Takes on Coal and Oil Lobbies thumbnail

A solar industry leader smacked down the oil and coal industries on Tuesday, calling for renewable energy proponents to open their wallets to level the playing field in Washington. The event, being held in Anaheim, Calif., is the solar industry


Canada's tar sands may to be just too dirty

Canada's tar sands may to be just too dirty thumbnail

Capturing and storing some of the carbon that would be released in the processing of Canada’s tar sands may not clean the industry up. To turn the vast but dirty resource into useable oil, Canada will have to spew vast amounts of greenhouse gases. That’s the conclusion of a new study on the potential of […]


No bell curve in the jaws of peak oil

No bell curve in the jaws of peak oil thumbnail

If levity were allowed in the serious matter of running out of cheap oil, one might say What proved to be correct for individual nations, well-defined regions, and specific fields in the relatively early stages of exhausting traditional oil — namely reaching an


Insurance to rise with sea levels

Insurance to rise with sea levels thumbnail

INSURANCE premiums will rise if no action is taken on climate change, the financial services minister, Chris Bowen, told Parliament yesterday. A federal parliamentary report published on Monday recommended that the Productivity Commission investigate the gaps in insurance coverage for owners of coastal property as erosion, sea level rise and storm surges are set to […]


Report: N.J. wetlands at risk

Report: N.J. wetlands at risk thumbnail

New Jersey and the East Coast could lose most of their vital coastal wetlands to a rising sea, according to a new study. “The future’s not rosy,” said Michael Craghan, study coauthor and director of the nonprofit Middle Atlantic Center for Geography and Environmental Studies in Manasquan. If the trend continues, existing development and shore […]


Energy Market Reviews

Energy Market Reviews thumbnail

…As we’ve noted in previous article Which brings us to the root of the problem: the oil market is not free. This, and not any geological considerations, will potentially lead to troublesome constraints on oil supply in the future. In other words, if there is going to be an oil supply problem with grave economic […]


E.ON plant plans raise fear of gas-dependent Britain

E.ON plant plans raise fear of gas-dependent Britain thumbnail

E.ON, the energy group that shelved plans for a new coal-fired power station at Kingsnorth, Kent, is drawing up plans to build a new gas-fired plant of the same size in Nottinghamshire, leading to fears that Britain will be over-reliant on imported natural gas. An E.ON spokesman said that the group had begun a It […]


OPEC to Raise Output If There

OPEC to Raise Output If There thumbnail

(Bloomberg) — OPEC will raise oil output if there The Organization of Petroleum Exporting Countries will meet Dec. 22 in Luanda, Angola, to review production quotas. Crude futures have rallied 76 percent this year and reached a one-year high of $82 a barrel on Oct. 21 as the dollar weakened. Investors buy oil, which is […]


The end is near

The end is near thumbnail

…You’ll read the particulars of the show–the Lexus LFA, the Toyota FT-86, the Daihatsu DecaDeca–here and in AutoWeek magazine. I am not here to rehash all of that. I am here to tell you what it all means. It means the end of the world. I know, that comes as a shock. You were hoping […]


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