Monuments To The New American Century

In the 22nd Century, naturalists will visit the historic ANWR re-created wildlife reserve which was developed after its petroleum deposits tapped out at the time of the

Dover announces natural gas drilling & pipeline update

The pipeline will be a 6-inch, eighteen-mile
natural gas gathering pipeline capable of carrying 16 million cubic feet of
gas per day.

canada NewsWire

Govt. Forecasts Record Summer Gasoline Prices

U.S. consumers can expect to pay a record average $1.76 a gallon for gasoline during this summer’s busy driving season

U.S. National – Reuters – Yahoo

Shell Closes Refinery

“…the FTC said it is evaluating Royal Dutch/Shell Group’s decision to shut down an oil refinery in California, but has not implemented an official investigation.”
The Ledger

Shell has decided to close one of the biggest refineries in California. The company claims closure due to lack of supply, while consumer groups cry conspiracy to jack up fuel prices.
Sf Gate

FTC Says No Collusion Among Oil Companies

“To date, we have identified no instances of collusion between petroleum companies,” said William Kovacic, general counsel of the Federal Trade Commission, in written testimony to the Senate Judiciary antitrust subcommittee.

Yahoo

Saudi Arabia Pledges Oil Supply to Japan

The Japanese minister added: “I said, ‘The cheaper the better.’”

Mercury News

Richard Clarke’s Orchestra

new free essay on From the Wilderness.

Excerpt:
Clarke seems to leave a trail of breadcrumbs for those who know about the dark side of September 11. It’s as if he wants the better-informed among his readers to know that the book is really a politically pragmatic strike against a consortium of murderers, not the frank complaint against administration failure and incompetence that the media sees in it.

Make Money From Small Oilfields?

Outside of BP

CASS Report: Russia to become China’s largest oil and gas supplier

Excerpt:
According to the report, China’s oil demand in 2005 will reach 294 mln tons, equal to that of Japan. In 2008, China’s oil demand will reach 351 mln tons, surpassing the total 330 mln ton demand of Germany, UK, France and Denmark, and become the second largest oil consumer in the world. Around 2028, China’s oil consumption will reach 1,164 mln tons, approaching the estimated 1,211 mln ton oil demand of the US. After then, China will gradually exceed the US to become the largest oil consumer in the world.

Interfax

Saudis Point Finger at US

Adel Al-Jubeir, foreign affairs adviser to Saudi Crown Prince Abdullah, blamed record high US gasoline prices on America’s tough environmental laws and lack of refining capacity, saying OPEC’s oil production policies were not at fault.

Neftegaz.ru

China Unveils Finding of New Oil Deposits

From the Ocala Star Banner:

The government has announced discoveries of new oil deposits that it says will help reduce China’s increasing dependence on imports, amid growing worries over the country’s energy security.
( Full Article)

OIL SPILL STANDOFF: Agencies clash, send quest for justice up creek

Detroit Free Press:
OIL SPILL STANDOFF: Agencies clash, send quest for justice up creek
Excerpt:

Two years after the largest oil spill in modern Great Lakes history, investigators are at odds over crucial facts, creating a stalemate that has stuck taxpayers with a $10 million-plus bill, an unpunished polluter and the possibility that a spill that size could happen again.

ANALYSIS-Murky OPEC data muddies oil reserves debate

Forbes: ANALYSIS-Murky OPEC data muddies oil reserves debate Excerpt:
The information on reserves held by other OPEC producers — who together own around 80 percent of the world’s proven oil reserves — has been just as patchy, say some analysts.

Analyst: Oil shortfalls to drive price increases, dictate alternatives

Oil and Gas Journal: Analyst: Oil shortfalls to drive price increases, dictate alternatives Excerpt:
The world is facing a future of oil price increases that will occur sooner than many people now believe, concluded Canterbury, England,-based energy analysts Douglas-Westwood Ltd. in the third edition (2004-50) of its World Oil Supply Report published Wednesday.

Leading to that judgment are three fundamental findings study author Michael R. Smith of EnergyFiles Ltd. said were “strongly evident” from the study: increasing oil demand coupled with falling reserves and a decline in discovery.

LNG: Where Will it Go?

Neftegaz.ru Reprinted on PetroleumWorld: LNG: Where Will it Go? Excerpt:
Unfortunately, analysts believe that over the short-to-medium term there are too many projects chasing customers. For example, if Gorgon is to rely on demand only from the established Northeast Asian buyers, it is unlikely that it could contemplate production until sometime in the next decade. In fact, if all proposed plants and expansions are realized, capacity for Asian markets could outstrip demand by 50 million tonnes per year in 2010, a US study says.

Imagining a $7-a-Gallon Future

Daniel Yergin at The New York Times: Imagining a $7-a-Gallon Future Excerpt:

Adherents of the “peak oil” theory warn of a permanent oil shortage. In the next five or 10 years, they maintain, the world’s capacity to produce oil will reach its geological limit and fall behind growing demand.

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