Oil and Gas Blues

In the past 10 to 15 years the General Accounting Office and the Interior Department’s inspector general have issued report after report detailing abuses in the overall management of federal oil and gas resources amounting to tens and perhaps hundreds of billions of dollars.

Yet nothing has been done to stem the flow of funds that should rightfully be going to taxpayers, including tribal members.

Washington Post

Upcoming Webcast

IPAA Oil and Gas Investment Symposium – New York, NY
Date: Wednesday, April 21, 2004
Time: 1:25 pm Mountain Time (3:25 pm Eastern Time)

Canada Newswire | webcast

FERC to act on power grid reliability

A policy statement set to be unveiled at FERC commissioners’ regular meeting on Wednesday will define the agency’s role in “assuring reliable grid operations and add teeth to (industry) rules,” according to an agency source familiar with the document. The source spoke on condition of anonymity.

Forbes

Global Climate Change and Peak Oil

Peak Oil is bringing on the agonies of a huge cultural and economic transition. Like the withdrawal symptoms endured by an addict, the effects of the coming petroleum crisis will ravage the American body politic and work necessary but painful changes in the life of the entire human community.

From the Wilderness

Wyoming First to Get Wind Turbine Tester

Wyoming’s incessant gales have attracted the first commercial wind
turbine testing facility in the United States.

Yahoo – AP

OPEC: Oil Demand Growth at 4-Year High

The OPEC oil cartel on Friday raised forecast demand for its crude oil
this year, expecting China’s economic expansion to push world
consumption growth to a four year high.

Yahoo

Plan to build emissions scrubber

BBC News reports on a US attempt to build a structure that removes CO2 from the atmosphere.

Stored CO2 could be used to improve oil recovery in depleted wells.

BBC

Oil Giants queried in wake of Shell admission

SEC questions oil giants’ reserves
ChevronTexaco, ExxonMobil queried in wake of Royal Dutch/Shell admission

SF Gate

Nigeria had raised concerns over Shell oil reserves

Analysts say that maintaining a big reserve base may help it secure a higher production quota with the Organisation of Petroleum Exporting Countries, the oil cartel.

Financial Times

Saudi oil output seen doubling by 2025

Saudi Arabia’s oil production is far from peaking, and the kingdom’s output will likely more than double over the next two decades, the head of the U.S. Energy Information Administration said on Wednesday.

Forbes
– Reuters

Report: Oil Will Cost $51/barrel by 2025

The report by the DOE’s Energy Information Administration said strong economic growth in Asia will drive world energy prices in the next decade. The developing world’s demand for energy will nearly double by 2025 with oil, coal and natural gas leading the way.

Yahoo

The Situation Looks Brighter For Alternative Energy Producer Alkane

Things do seem to be coming right for Alkane Energy, the international green energy company which designs, manufactures and operates specialist methane capture and utilisation technology for the safe, efficient and environmentally beneficial use of this gas.

OilBarrel.com

Antarctica, dated news from `98

I felt this to be a pertinate article because it speaks on items I’m not familiar with since I’m a newb.

Florida State University Journal of Land Use & Environmental Law

Why keep adding to oil reserves?

Goldman Sachs, a leading oil trader, estimates that continuing to fill strategic oil reserves through this year in the United States and Europe would add more than $4.25 per barrel to crude oil prices. Petroleum economist Philip Verleger estimates that the fill over the past two years has already added $8 to $10 per barrel.

Detroit Free Press

Research: Pig Manure Can Become Crude Oil

Big oil refineries are unlikely to purchase crude oil made from converted manure, Zhang said, because they aren’t set up to refine it. But the oil could be used to fuel smaller electric or heating plants, or to make plastics, ink or asphalt, he said.

Yahoo

‘Ice highway’ opens Earth’s last frontier

Six Americans have just ended a second year of what looks like an impossible mission — carving out a road to the South Pole.

CNN

Norway and the UK: Promises and problems

Fields are depleting, and platforms are shutting down. Exploration decreases, and the discoveries made are of diminishing sizes. Few major development projects remain, and investment levels are falling.

WorldOil.com

Tracking the blackout bug

A number of factors and failings came together to make the August 14th northeastern blackout the worst outage in North American history.

Security Focus

Saudis keep oil production steady

Top OPEC producer Saudi Arabia told major oil companies and independent refiners in the United States it would hold its production level in May steady compared to the previous month, traders said Monday.

CNN Money

Monster LNG Transaction in Works

Chinese oil giant Sinopec is in talks over a landmark multi-billion dollar deal with Iranian firms to import LNG from the Middle Eastern nation, in return for the right to exploit some of the country’s richest oilfields.

Neftegaz.ru

U.S. Gasoline Prices Break Records Again

The nationwide average in the past two weeks that ended Friday was $1.82 for all grades, said Trilby Lundberg of the Lundberg survey, which regularly polls 8,000 stations across the United States.

Salon.com

ExxonMobil Invests in Malaysia Gas Compression Platform

Three large turbine-driven compressor trains will handle 540 million cubic feet of gas and 30,000 barrels of condensate per day. Production will flow to shore using existing pipelines.

NewsStream

Booming China’s Crude Oil Imports Soar

Crude imports in booming China, the world’s second largest oil consumer, soared 35.7 percent year on year to 30.14 million tons in the first quarter of 2004, the official Xinhua news agency on Monday.

Reuters – Yahoo

Oil exploitation in Ecuador

Exploring for oil and extracting it from the Amazon region of northeastern Ecuador has boosted the country

Russia Weighs Tax Shift Toward Oil Sector

With the new proposals, Russian taxes on oil become not only higher, but more steeply graduated, depending on where oil prices are.

NYT

Higher world oil prices are bad news for the Indian economy

Higher oil prices after the general elections could well unleash the demons of inflation, particularly in a year of election expenditure and high money supply, and apply the brakes on a buoyant economy.

The Times of India

North Sea Rig Utilization Makes First Improvement Since November

North Sea rig utilization jumped to 70% in March from 65.7% in February, according to Platts North Sea Letter data, the first increase in activity since November 2003. The rise reflects much stronger demand in the semi-submersible segment

Rigzone

New Book Says Farming is Biggest Global Environmental Threat

Inefficient farming practices are helping to drive deforestation, pollution, ocean degradation and species loss, and constitute the most serious environmental threat in the world today…

U.S. Newsire

Petro Promises

…you can’t trust the reserve figures. Both Royal Dutch/Shell and El Paso Energy recently admitted to overstating them; the Securities & Exchange Commission doesn’t even demand that they be audited.

Yahoo – Forbes

Thicker than Oil

“No Blood for Oil” (never mind the people who drove upscale gas-guzzlers to the rallies at which they chanted such slogans) was supposed to respond to one of two possibilities: American oil companies were either simply going to steal the Iraqi fields, or indirectly prime the pumps to such an extent that the world would be awash with petroleum and the price for profligate Western consumers would crash.

National Review

« Previous Page — Next Page »

LATEST NEWS HEADLINES

• Why the IEA is Wrong About Peak Oil Demand
• Did we inadvertently speed global warming?  
• Venezuela’s Oil Monopoly Eases
• Why Germany is Choosing Natural Gas Over Nuclear Power
• U.S. coal-fired electricity generation decreased in 2022 and 2023

• America Cracks Down on Methane Emissions from Oil and Gas Facilities
• Meet America’s Newest Oil Trader Extraordinaire: Joe Biden
• Is It Time To Refill America’s Strategic Petroleum Reserve?
• Oil prices set to end year 10% lower as demand concerns snap winning streak
• What’s Driving America’s New Oil and Gas Boom?
• China’s peak oil demand bombshell eviscerates Danielle Smith’s energy strategy