Register

Peak Oil is You


Donate Bitcoins ;-) or Paypal :-)


News from July 2010

The Peak Oil Crisis: Thinking About China

The Peak Oil Crisis: Thinking About China thumbnail

Like everyone else, Beijing is about to fall victim to rapidly increasing oil prices, and eventually, shortages brought about by peaking world oil production. The government clearly recognizes this and has embarked on multiple programs to increase the efficiency of its energy use, increase production of renewable energy, and to buy up at top dollar […]


BP’s latest bid to plug well could be this weekend

BP’s latest bid to plug well could be this weekend thumbnail

BP could begin a so-called “static kill” to plug its blown-out Gulf of Mexico oil well by this weekend if bad weather does not force a delay, the top U.S. official overseeing the spill response said on Wednesday. Retired Coast Guard Admiral Thad Allen said at a briefing that if he approves the effort, BP […]


PO.com: Weekly Petroleum Supply Report 7.21.10

PO.com: Weekly Petroleum Supply Report 7.21.10 thumbnail

[quote]Summary of Weekly Petroleum Data for the Week Ending July 16, 2010 U.S. crude oil refinery inputs averaged 15.5 million barrels per day during the week ending July 16, 48 thousand barrels per day above the previous week’s average. Refineries operated at 91.5 percent of their operable capacity last week. Gasoline production decreased last week, […]


House committee weighs cut of 20 percent in ethanol subsidy

House committee weighs cut of 20 percent in ethanol subsidy thumbnail

Washington, D.C. – A House committee is considering a 20 percent cut in the ethanol subsidy that is otherwise set to expire this year. A Ways and Means Committee spokesman said that a reduction of the tax credit from 45 cents to 36 cents per gallon was among ideas the panel was considering for a […]


Alaska Gas line prospects may be unknown for months

Alaska Gas line prospects may be unknown for months thumbnail

JUNEAU, Alaska — The federal coordinator for Alaska natural gas projects said Tuesday it could be be late this year, or early next, before Alaskans know whether they’re closer to securing a major natural gas pipeline. Larry Persily said Tuesday that the public shouldn’t expect any major announcements next week, when TransCanada Corp. is slated […]


Analysis: Oil Prices $80 and Higher Befitting Current Market

Analysis: Oil Prices $80 and Higher Befitting Current Market thumbnail

Barclays Capital oil analysts believe that $80 or above oil prices are befitting as reverberations following the BP oil spill in the U.S. Gulf of Mexico continue to be felt, Barclays said it a report released earlier this month. According to Barclays, the fundamentals of restricted supply and economic recovery, which supports higher demand, are […]


World Oil reserves declining – but how fast?

World Oil reserves declining – but how fast? thumbnail

OPEC said last week its proven crude oil reserves rose 4 percent in 2009 to 1.06 trillion barrels, led by an increase in Venezuela. BP estimated last month total global oil reserves were over 1.33 trillion barrels — equivalent to more than 40 years of consumption at current rates. But many industry analysts have cast […]


What Does King Abdullah Know?

What Does King Abdullah Know? thumbnail

It was only two years ago that King Abdullah of Saudi Arabia cautioned consumers that, without $75-per-barrel oil, there was no incentive for his kingdom to bring on new production. Today, apparently, even that price no longer works. Recently, the King announced that he has ordered a halt to all further underground oil exploration, arguing […]


Phil Flynn: The Energy Report

Phil Flynn: The Energy Report thumbnail

For years we heard people scold us because the United States consumes 25% of the world’s energy yet has only 5% of the world’s population. Some looked at our consumption as piggish and that somehow we were bad. Yet what those naysayers failed to realize was that consumption helped drive global economic wealth around the […]


Projection of world fossil fuel production

Projection of world fossil fuel production thumbnail

peak [Oil] production year remained almost constant at 2011-12 for STATIC, DYNAMIC and INDEPENDENTLY DYNAMIC options, with peak production varying only marginally between 179–188 EJ/y. Similarly, for CASE 1, peak production year was the same at 2005 for all three supply and demand interaction options. For CASE 3, peak production year varied only slightly at […]


What To Do When The Wells Run Dry

What To Do When The Wells Run Dry thumbnail

Peak oil brings with it several opportunities for investors. Whether it’s oil, oil field services, or alternative energy, investors can cash in on this phenomenon. But be careful. If we reach peak oil, it will mean dramatic changes to society in the way we live and do business. Watch your investments closely and be sure […]


Has Peak Oil Arrived?

Has Peak Oil Arrived? thumbnail

About 10 years ago, OPEC sources indicated Saudi Arabia needed to sell a barrel of oil at $18 to break even. Two years ago, data from ratings agency Fitch (which cares because it evaluates sovereign debt) estimated Saudi Arabia’s breakeven had risen to $26. In January, Fitch pegged breakeven for the country at $68 a […]


Institute of Food Technologists : Food Supply Must Double

Institute of Food Technologists : Food Supply Must Double thumbnail

To meet adequate food demands for the growing world population, supply must nearly double in the next several decades, according to a new Institute of Food Technologists (IFT) report presented at IFT’s 2010 Annual Meeting and Food Expo in Chicago. Currently, the world’s food system provides food for nearly 7 billion people each day, but […]


Is Nuclear Fusion Too Sci-Fi to Work?

Is Nuclear Fusion Too Sci-Fi to Work? thumbnail

the drawback to nuclear fusion now is that reactors capable of creating large enough amounts of energy cost billions of dollars and have yet to require less energy than they produce, or, ‘net energy,’” CNN adds. Although the fuel problem and certain budgeting difficulties have yet to be resolved, scientists (and enthusiasts) are moving forward […]


Interactive climate map from Google

Interactive climate map from Google thumbnail

The Google Earth map shows how the world would be affected by a global average temperature increase of 4C in a bid to rebuild public trust in climate science. It illustrates rising water levels and reduced crop yields in different parts of the world if temperatures are not curbed by cutting greenhouse gases. The launch […]


Exxon still aids climate sceptics

Exxon still aids climate sceptics thumbnail

ONE of the world’s largest oil companies has broken its pledge to stop funding groups that promote scepticism about man-made climate change. ExxonMobil gave almost £stg 1 million ($1.75m) last year toorganisations that campaigned against controls on greenhouse gas emissions. Several made outspoken attacks on climate scientists at the University of East Anglia and argued […]


NASDAQ: Has Peak Oil Arrived?

NASDAQ: Has Peak Oil Arrived? thumbnail

On July 4, Saudi Arabia’s King Abdullah attended a cabinet meeting and then responded to a Zawya Dow Jones Newswires reporter’s question about what transpired: “I told them that I have ordered a halt to all oil explorations so part of this wealth is left for our sons and successors, God willing.” The rest of […]


Feds: BP’s cap stays on, new leaks insignificant

Feds: BP’s cap stays on, new leaks insignificant thumbnail

BP and the government had been at odds over the company’s desire to simply leave the cap in place and employ it like a giant cork in a bottle until a relief well being drilled deep underground can be used to plug up the well permanently. Allen initially said his preference was to pipe oil […]


Angola: An emerging oil power without the baggage

Angola: An emerging oil power without the baggage thumbnail

Angola is an unmitigated success story when compared to their neighbors in Nigeria and other dysfunctional African oil producers such as Sudan and the perennially, maddeningly weird, Libya. It is also an example on how the turbulent post-colonial past, so evident practically everywhere in Africa, can be overcome and give place to a far calmer […]


China rejects reports it passed U.S. in energy use

China rejects reports it passed U.S. in energy use thumbnail

China’s government rejected a report Tuesday that it became the world’s biggest energy consumer last year, passing the United States. News reports citing data from the International Energy Agency said China consumed the equivalent of 2.252 billion tons of oil last year, slightly above U.S. consumption of 2.17 billion tons. “IEA’s data on China’s energy […]


Hedge Funds Increase Bets on Oil Gains by Most Since 2007

Hedge Funds Increase Bets on Oil Gains by Most Since 2007 thumbnail

Hedge funds and other large speculators raised bets that oil would gain by the most in more than three years just as it began to slide, the second straight week money managers lined up on the wrong side of the market. So-called net long positions on the New York Mercantile Exchange rose 67 percent the […]


China Passes U.S. as World’s Biggest Energy Consumer, IEA Says

China Passes U.S. as World’s Biggest Energy Consumer, IEA Says thumbnail

China overtook the U.S. as the world’s biggest energy user last year, emphasizing that developing nations are driving global growth, according to the International Energy Agency. China consumed 2,252 million metric tons of oil equivalent in 2009 in the form of crude, coal, natural gas, nuclear power and renewable sources, IEA Chief Economist Fatih Birol […]


BP: Oil Seep is Natural

BP: Oil Seep is Natural thumbnail

BP believes an unspecified amount of hydrocarbons seeping from the seafloor near the leaking Macondo well is natural and unrelated to the test of its new containment system, a company spokesman said Monday. “We understand it’s natural seepage,” the spokesman said. The seepage is located at about two miles from the well. The U.S. government […]


Peak Oil – yet another Inconvenient Truth

Peak Oil – yet another Inconvenient Truth thumbnail

After Peak Oil was for a long time only discussed by a small group of international geologists and former employees of the large oil companies, in the meantime relevant organizations such as the International Energy Agency (IEA) in Paris or the German Federal Institute for Geosciences and Natural Resources (BGR) in Hanover have also confirmed […]


Saudis vs. ESPO

Saudis vs. ESPO thumbnail

The oil and gas industry is being treated to a new burst of competition with the development of Russia’s East Siberia-Pacific Ocean (ESPO) pipeline with its own blend of crude. Indeed, traders expect Saudi Arabia to lower the prices of all its crude grades heading to Asia for August on slow demand from regional refiners […]


EROEI of electricity generation

EROEI of electricity generation thumbnail

“Energy Return on Energy Investment (EROEI) is calculated as the ratio between energy inputs and energy outputs for an energy generating technology. A process that uses more energy than it produces is by definition unsustainable in the long term. Technologies which require fuel generally have a lower EROEI than those which can extract “free” energy […]


Kunstler: What If Simmon is Right about BP Spill?

Kunstler: What If Simmon is Right about BP Spill? thumbnail

Simmons makes two additional points that are pretty radical: he says that several states along the Gulf ought to begin systematic evacuations in counties along the shore now. From his experience in Houston with Hurricane Rita (2005), he says a last-minute evacuation is bound to be a disaster — the highways jammed hopelessly, drivers ran […]


Small Wind Is Powering Ahead

Small Wind Is Powering Ahead thumbnail

The 2009 tally pushed the total installed capacity of small wind turbines in the United States to 100.2 megawatts. (That’s only equivalent to one-fifth the output of an average coal-fired power plant in the United States. But more than half of that capacity came online in only the last three years, making small wind one […]


Feds let BP keep Gulf oil cap closed despite seep

Feds let BP keep Gulf oil cap closed despite seep thumbnail

The federal government Monday allowed BP to keep the cap shut tight on its busted Gulf of Mexico oil well for another day despite a seep in the sea floor after the company promised to watch closely for signs of new leaks underground, settling for the moment a rift between BP and the government. The […]


Hans Rosling on global population growth

Hans Rosling on global population growth thumbnail

The world’s population will grow to 9 billion over the next 50 years — and only by raising the living standards of the poorest can we check population growth. This is the paradoxical answer that Hans Rosling unveils at TED@Cannes using colorful new data display technology. Famed for his informal motto: “Let my dataset change […]


« Previous PageNext Page »



Oil News Categories


Recent Board Topics


Archive


LATEST NEWS HEADLINES


PO Real Time

Amazing predictions of #renewables show #peakoil in 2024 ... twitter.com/ProfRayWills/s…