Quarterly Oil Production from Majors Dropping

According to quarterly reports, average daily production of crude oil and natural gas liquids from eight major oil firms dropped by some 304,000 barrels per day (-2.8%) during the first quarter of 2005 as compared to the prior year. Combined liquids production for these firms dropped to 10.475 million barrels per day (mbpd) in 1Q […]

Iraq May Triple Oil Output by 2012

Once foreign energy companies return to Iraq after it is safe for their workers, the country should be able to triple its crude oil production to 6 million barrels per day, IraqDawn

Aberdeen Banker Seals First Moscow Energy Deal

ENERGY investment bank Simmons & Company has concluded its first deal in Moscow and aims to open new bases in the Far East and Middle East as part of an expansion plan to take advantage of surging interest in the energy sector. The eastern hemisphere operations of the Houston-headquartered bank are run by Colin Welsh, […]

Out to Shock the World over Saudi Reserves

AS President George W Bush strolled around his Prairie Chapel ranch in Texas last week with Saudi ruler Crown Prince Abdullah, oil prices were high on the agenda during talks between the leaders of the worldSunday Herald

Greenhouse Gases Buried at Sea

As governments grapple with global warming, the world’s oil giants are planning to use new technology to store millions of tonnes of CO2 under the sea, reports Sylvia Pfeifer. The Miller field in the North Sea has been pumping out oil and gas for more than two decades. But today, with production in decline, it […]

Doubt Over Oil Reserves Fuels Tussle with Bank

CANADIAN oil firm Oilexco is believed to be coming under pressure from the Royal Bank of Scotland following the revelation that its Brenda field in the North Sea could hold only half as much oil as was previously claimed. The companyScotsman.com

Hydrogen, Other Energy Systems Enable Home to be Efficient and Self-Sustaining

But the residence the couple and their two young sons will soon occupy is about much more than sleek architecture and striking desert scenery. ItEast Valley Tribune

Iran May Resume Nuclear Program Should EU Talks End

Iran might resume its nuclear program as early as next week should the Islamic Republic fail to reach an agreement with the European Union on the suspension of uranium- enrichment activities. Iran is building a heavy-water nuclear reactor that it says is for generating electricity and the country has rejected calls by the U.S. for […]

Car Buyers Think Hard and Long Distance About Mileage

Down at the automobile showroom, red-hot gas prices are melting the rules Los Angeles Times via Yahoo! News

North Slope Oil Companies in Alaska Gamble on Heavy Oil for Big Payoff

BP and ConocoPhillips are betting that heavy oil in Alaska will result in a big payoff. Heavy oil – which has the consistency of thick molasses instead of olive oil – lies in sandstone above the huge reservoir of North Slope light oil that has been flowing down the trans-Alaska pipeline since 1977. With that […]

As Oil Prices Soar, Consumers of Renewable Energy Smile

For people like Ronald Cascio, who fuels his pickup with a soybean oil derivative, and J.D. Doliner, whose home is partly solar powered, the high price of energy isn’t a worry. That doesn’t mean their renewable energy preferences come cheap. In fact, it requires an extra financial commitment to wean one’s home or vehicle off […]

Tokyo in Threat to Withdraw from $11bn Oil Pipeline

Tokyo will withdraw its offer to help finance an $11.5bn oil pipeline from Siberia to Russia’s Pacific coast if Moscow pursues a plan to build a spur to China first, Japan’s trade minister said. After years of wrangling with Japan and China, Russia announced last December that it would build a 4,100km pipeline to Perevoznaya […]

White Knuckle Ride on the Fuel Rollercoaster

Rising oil prices helped energy funds easily beat the average for all types of unit trust in recent years but falling prices this week prompted fears the upswing is over. Brent crude traded at less than $20 a barrel in 2001 but hit $55 last month before easing to nearer $52 this week. The effect […]

Recovering Another 43 Billion Barrels of Oil from Six U.S. Areas

With crude oil prices sky-high and the U.S. trade deficit at record levels, U.S. oil reserves have assumed a critical role in the U.S. economy. The search for new reserves usually involves exploring for new fields. But vast amounts of stranded oil lie underground in aging U.S. oil fields. The oil is stranded because therePetroleum […]

The Ticking Time Bomb Called Peak Oil

There is a bombshell of a problem on its way. It is going to affect each and every one of us and change our very way of life. People will have to start growing their own food, stores will have to be closer and more centralized in suburbs, and transportation will have to be reinvented. […]

Ocean Data Support Global Warming Projections

A new study of ocean temperatures provides further evidence that human activities are warming the planet, scientists said Thursday. The Earth is absorbing more energy from the Sun than it is emitting back into space, according to the new study, and the magnitude of imbalance cannot be explained by natural variability.

ENS

The Myth of Peak Oil

First, whatever ends up replacing petroleum will come in its own good time, later than we’d like but probably sooner than we expect. It will come because it stores energy and power better than gasoline does and more cheaply to boot. It will come with some tremendous benefits and some unfortunate drawbacks. Consider as you […]

Oil Industry Boom Likely to Continue

Several of the major oil companies already seemed to be preparing for a possible price reversal. Exxon Mobil, ChevronTexaco and Royal Dutch/Shell curbed their first-quarter oil production by a combined 474,000 barrels a day, according to the companies. The downturn offset a 500,000-barrel-per day production increase by Organization of Petroleum Exporting Countries, or OPEC. That […]

Saudis, Oil, Israel & America

Some important connections have been sketched out recently – hidden but in plain view. Consider what Prime Minister Sharon’s National Security Advisor (and former Mossad chief), Efraim Halevy has to say: “In a visit to the United States two weeks ago, I was told by several well-informed observers that should one of the more severe […]

Oil Prices and the U.S. Economy

According to the American Petroleum Institute, every one-cent increase in the price of gasoline in the United States costs consumers an additional $1.4 billion. Higher energy prices have reduced G.D.P, i.e., gross domestic product, growth by an estimated one-half-to-one percent this year alone. Lyle Gramley, a former governor of the Federal Reserve Board, says that’s […]

Exxon Mobil Skeptical of Bush Refinery Proposal

Don’t expect to see the ExxonMobil tiger on any new oil refineries built at shuttered U.S. military bases. Expressing deep skepticism about the need for new grassroots U.S. oil refineries, an Exxon Mobil Corp. (XOM) executive Thursday said the company has no plans to build new refineries in the U.S. Instead of building new plants […]

Iraq Needs 2 Years To Reach 1990 Output Levels-Ex Oil Min

A former Iraqi oil minister said Friday that it would take Iraq at least two years to boost its production to 3.5 million barrels a day, the level it produced at the time of the 1990 invasion of Kuwait. Issam al-Chalabi, who was Iraq’s oil minister when Saddam Hussein invaded Kuwait, said Iraq’s oil industry […]

ExxonMobil faces the honest realities of the energy industry

At ExxonMobil, we devote substantial resources and effort to recognizing, analyzing, and understanding these long-term dynamics. Though we never claim an ability to predict the future, we are always working to identify and analyze the trends and issues most likely to affect the long-term world energy environment. Through this effort, we develop a planning framework […]

Shell Canada closer to expanding oil sands project

Shell Canada Ltd. (SHC.TO: Quote, Profile, Research) , the country’s No. 2 oil producer and refiner, said on Friday it has filed regulatory applications to expand capacity at its Athabasca oil sands project in northern Alberta. The company plans to increase capacity at the Muskeg River mine to about 300,000 barrels a day from 155,000 […]

Russia May Stop Building Pipeline to Pacific if Oil Reserves Low

Russia may stop building a trans-Siberian pipeline to deliver oil to its Pacific coast as sought by Japan, if a three-year geological survey finds crude reserves to be insufficient, Interfax news agency said Wednesday, quoting a Russian energy official. Anatoly Yanovsky, head of the Industry and Energy Ministry’s fuel energy department, was quoted as saying […]

Call for oil will remake world and role of U.S.

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, according to oil industry experts. And they said the United States isn’t alone. Europe and Japan will also be increasingly forced […]

China’s Oil Demand Will Jump by Another 650,000 Barrels Per Day

With its demand already increasing at record speeds, China gears up to begin filling its SPR, and the world looks at global oil supply problems looming in the near future; World Energy Monthly Review connects politics, the economy and hard energy facts. “China’s SPR will pose significant new demands on a global market that is […]

Rethinking the Axis of Oil

FOR six decades, one of the few fixed stars in American foreign policy has been the special relationship with Saudi Arabia. Bluntly put, America has offered military protection to the Saudi royal family in return for the free flow of relatively cheap oil from the desert kingdom. Every president since Franklin Roosevelt has stuck by […]

Gas prices give chance to improve life quality

When it comes to ever increasing prices at the gas pump, one sentiment echoes across the board. Regardless of location, class or even political party, the resounding question of the U.S. citizen cruising by the fuel station is simply this: When’s the price gonna come down? Nobody likes the idea of forking out more than […]

Learn About Peak Oil Network Computing Team

If you want to help human health science with their protein study and you have a computer online 24/7, check it out and if it fits you, try it out and maybe you can join our very small Peak Oil team.

Our body produces 30,000 different proteins and 20,000 are used by the brain, so this is an important research study that could do god knows what some day towards a healtier happier human being.

http://predictor.scripps.edu/team_display.php?teamid=1227

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