Riding the oil slick

But higher oil prices will also add to the inflationary forces gathering in the world’s economies, which could fuel uncomfortable price gains…

CNN Money

Have We Hit The Oil Peak?

“Civilization as we know it will come to an end sometime in this century unless we find a way to live without fossil fuels.”

SciScoop

Global Climate Change & Peak Oil, Part II

But the Pentagon report was more than a summary of the greenhouse effect, ozone depletion, and increases in global average temperatures. It was an unprecedented acknowledgement of a much more direct threat to our place in the world: abrupt climate change.

From the Wilderness

Renewable Hydrogen in Reach

Here is a news item from February out of the University of Minnesota. It’s from a U of M news release, so take it with a grain of salt insofar as probably the PR guy who wrote it doesn’t have a full grasp of related issues. However I think it’s a significant note. I don’t […]

Interagency Task Force Examines U.S. Natural Gas Supply

Secretary of Energy Spencer Abraham announced the formation of a new interagency group that, in the interest of energy security and consumer affordability, will focus on identifying specific near- and long-term actions that could expand domestic natural gas supplies.

RigZone

Center completes solar power system

Japan’s largest solar power system was completed Tuesday at a national science research center in Tsukuba, Ibaraki Prefecture.

Japan Times

The looming oil crisis will dwarf 1973

For many of us who have been observers of global energy trends for what now amounts to decades, this has become not a matter of “if” but rather one of “when.”

Investors Business Daily

Book Review: the coming crisis of a world that’s running out of oil

“Oil depletion is arguably the most serious crisis ever to face industrial society,” writes Roberts, a frequent contributor to Harper’s Magazine.

Seattle Times

IEA-OPEC jointly contemplate world energy investment outlook

“A pivotal area in shaping the flow of investment to oil development is the Middle East,” said IEA Executive Director Claude Mandil. “Although the costs of developing the region’s vast resources are lower than anywhere else in the world, financing this investment will be determined partially by perceptions of security risk, but even more so by national decisions establishing the pace of resource exploitation.”

Oil and Gas Journal

California May Declare First Gasoline Emergency in 15 Years

It’s about the pipeline breaking but why are the western states in a position where one pipeline breaking will cause chaos? Well not chaos but….

Bloomberg

Opec may hike output to cool prices: UAE

Opec has been pumping above formal quotas to prevent crude oil prices spinning out of control

Khaleej Times

ANALYSIS-China oil firms shun Japanese path in oil hunt

Just like Japan’s predicament 30 years ago amid an oil crisis, China has been driving its oil firms to buy assets abroad since it became a net oil importer in 1993.

Forbes

ENERGY INDEPENDENCE BONDS & Two Strategic Corridors

“let’s bring to the table the concept of ENERGY INDEPENDENCE BONDS, modeled after the WWII Defense Bonds” email to PeakOil.com by Ann Marie Henrioulle Dear Mr. Ribaudo: (Original sent to Ms. Carol Peterson, California Transportation Commission) Ladies & Gentlemen: (cc Transportation Commissioners) The discussion of California & Northern Nevada for Winter Olympics Venue brings forth […]

New firms help fuel hopes for ageing oil fields

“only half of the estimated reserves in the region have been exploited to date and there is every indication that the North Sea will continue to be an important production region for decades to come.”

scotsman

Adios, cheap oil, bring on the big bucks

“The mechanism by which global oil prices are set is intact, but the normal behavior of supply and demand is not”

Asia Times

Development And Exploration Wells In Australia And The US

If you look at it in military terms, Aussie listed junior Victoria Petroleum, with assets in California and Wyoming in the US and various basins in Australia, had an early raiding party with its West San Antonio No1 in the Salinas basin, California. But it is now starting a general drilling offensive on a broad front.

OilBarrel

Expo told North Sea future is well oiled

BRIAN Nixon, the director of energy at Scottish Enterprise, yesterday dismissed the prophets of doom and predicted that the North Sea will continue to be an important world producer of oil for decades to come. ScotsmanWhat did Hubbert say about half-exploited reserves? Anyone? His decidedly upbeat appraisal of Scotland

Oil Price Hits Highest Level Since 1990

WASHINGTON (AP) – The price of oil rose to its highest level in more than 13 years on Monday as traders responded to the weekend killing of five Westerners working for an oil contractor in Saudi Arabia.WASHINGTON (AP) – The price of oil rose to its highest level in more than 13 years on Monday […]

Return of an economic demon: oil shock

According to agency’s report, any sustained $10 increase in the price of oil would increase unemployment, inflation and budget deficits across the world and cost the global economy at least $255 billion within one year.

International Herald Tribune

The World’s Waning Energy Dependence On Gulf Oil

Between 1975 and 2002, the share of oil in total primary energy consumption in Western Europe and Japan fell from 57% to 43% in favor of both natural gas and nuclear power, the shares of which increased from 12% to 33%.

Middle East North Africa Financial Network

Greenspan Remarks on Energy

“These elevated long-term prices, if sustained, could alter the magnitude of and manner in which the United States consumes energy. Until recently, long-term expectations of oil and gas prices appeared benign. When choosing capital projects, businesses could mostly look through short-run fluctuations in prices to moderate prices over the longer haul. The recent shift in expectations, however, has been substantial enough and persistent enough to influence business investment decisions, especially for facilities that require large quantities of natural gas. Although the effect of these developments on energy-related investments is significant, it doubtless will fall far short of the large changes in our capital stock that followed the 1970s surge in crude oil prices.”

FederalReserve.gov

Shoppers Deserting Supermarkets

For financially pressed consumers, it’s coming down to a choice between
spending on gasoline or groceries, and gasoline is winning, a food
industry analysis finds.

Yahoo – AP

We can only refine so much gas

Government may impose a rationing scheme (which seems unlikely) or price will allocate supply. Those who can afford it will get as much as they want. Others will not.

Houston Chronicle

Will The End of Oil Mean The End of America?

The needs of the people of any one country must be subordinated to the larger agenda of Empire itself.

CounterCurrents.org

The Mother Of All Oil Shocks Is Looming: Toward the Petro Apocalypse

A French elected official from the Green Party warns that there will be an oil crisis unlike any that preceded it by the end of the decade.

Axis of Logic | Le Monde (French Version)

Warm Climate’s Effects Striking in West

“It used to be a nice spruce forest,” said Kurt Allen, a Forest Service entomologist. “It’s gone now. You’re not going to get those conditions back for 200 or 300 years

Yahoo -AP

The oil wars : In the pipeline

China and Japan are locked in a fierce diplomatic and economic struggle to win access to Russian oil

Economist

Five Westerners Die in Saudi Oil Port Attack

It was the first such attack on a Western oil facility in Saudi Arabia, the world’s largest oil exporter.

Reuters

Keeping Hot Air Out Of Energy Reserves

Get this: The world’s No.2 energy producer relied on a lone former employee to audit its annual estimate of reserves — and he worked part-time.



Business Week Online

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