LUKoil Discovers More Oil in Far North

LUKoil added the equivalent of 60 million barrels of oil to its reserves in Russia and 340 million tons internationally, the company said in a statement, without specifying whether the reserves are proven or probable.

Moscow Times

Barreling toward disaster

Official: US oil at the heart of Iraq crisis

By Neil Mackay President Bush’s Cabinet agreed in April 2001 that ‘Iraq remains a destabilising influence to the flow of oil to international markets from the Middle East’ and because this is an unacceptable risk to the US ‘military intervention’ is necessary. http://www.sundayherald.com/print28285

China expects to have 140 million cars by 2020

BEIJING, Sept. 5 (Xinhuanet) — China expects to have 140 million automobiles plying its roads by 2020, seven times more than now, fueling demand for transportation infrastructure and services, state media reports. Li Xinghua, deputy director of the Communication Ministry’s Comprehensive Planning Department, predicted that China’s auto population would eventually reach around 250 million, or […]

Global oil crisis lurking

With demand for fuel growing rapidly in China, India and other developing nations, “the world is entering a period of runaway growth in demand for fossil fuels,” said Matthew Simmons

AZ Central

High oil prices not to drag down economy

“Compared with developed countries, China’s energy mix is less dependent on oil. China is relatively less vulnerable to oil price changes.”Coal consumption, he added, still accounts for 67 per cent of China’s current energy mix, while oil accounts for only 23 per cent.

China Daily

World Needs More Oil Capacity -Watchdog

EU Energy Chief Urges More Transparency in Oil Markets

The Commissioner also said the creation of European version of the U.S’s strategic petroleum reserve would help aid transparency.

RigZone

Firefighters battle Iraq oil pipeline blaze

Old boys in a fine African mess

A week ago, South African prosecutors tied the son of Margaret Thatcher, the former British prime minister, to an improbable, botched coup in Equatorial Guinea, a minuscule, humid, African dictatorship.

It was not democratic idealism, however, but Equatorial Guinea’s oil production – Africa’s third-largest, netting an estimated $700 million in profit for Obiang each year – that probably lured the soldiers of fortune.

Herald Tribune

Gas Stations Overwhelmed in S. Florida; Shortages ‘Will Get Worse’

Long lines of motorists trying to fill their tanks before Hurricane Frances struck drained gasoline stocks at hundreds of South Florida service stations Thursday, despite oil company efforts to replenish supplies. At the same time, gas station operators and oil companies warned that bringing in additional gas would be delayed by the approaching hurricane. “Shortages […]

Giant bucket wheel excavators

Giant bucket wheel excavators…

CD

…for when you can’t strip mine for energy fast enough.

Cold Fusion Back From the Dead

Later this month, the U.S. Department of Energy will receive a report from a panel of experts on the prospects for cold fusion

OPEC Oil Output Rose 1.2% in August

The Organization of Petroleum Exporting Countries boosted crude-oil production 1.2 percent in August, reaching a 25-year high for a second month in an attempt to pull prices back from records, a Bloomberg survey showed.


Bloomberg

Police Battle Gangs Over Stolen Crude

LAGOS, Nigeria (AP) — Authorities are beefing up security forces in Nigeria’s oil-industry capital, where soldiers will patrol around the clock after deadly clashes by rival armed gangs in recent days, officials said Thursday. Nigerian army spokesman Col. Mohammed Yusuf said extra troops are deploying to the southern city of Port Harcourt in support of […]

North American oil companies using up natural gas to obtain oil from tar sands

Alberta North America’s crude oil resources have been so thoroughly explored and developed that experts believe that there is hardly any left to find, except perhaps in the deep waters of the Gulf of Mexico. In the rest of the world, most of the best places to drill for new oil are off limits to […]

Sakhalin rivals North Slope of Alaska

Good news for Japan: About 350 miles northeast of here, offshore of Sakhalin Island, part of Russia, Japanese companies are participating in the first $10 billion slice of what could be a $100 billion development of oil and gas reserves believed to rival the North Slope of Alaska. http://www.nytimes.com/2004/09/03/business/worldbusiness/03pipe.html?pagewanted=1

Let a Thousand Reactors Bloom

China announced plans to build 30 new reactors – enough to generate twice the capacity of the gargantuan Three Gorges Dam – by 2020. And even that won’t be enough. The Future of Nuclear Power, a 2003 study by a blue-ribbon commission headed by former CIA director John Deutch, concludes that by 2050 the PRC could require the equivalent of 200 full-scale nuke plants. A team of Chinese scientists advising the Beijing leadership puts the figure even higher: 300 gigawatts of nuclear output, not much less than the 350 gigawatts produced worldwide today.

Wired

Off-shore wind-power on its way to the Gulf

Paula Dittrick Senior Staff Writer HOUSTON, Aug. 31 — Wind Energy Systems Technologies LLC (WEST), New Iberia, La., wants to install wind turbines on abandoned Gulf of Mexico oil and natural gas platforms to generate electric power for both homes and secondary recovery efforts. The Louisiana Public Service Commission as early as next month could […]

Institut Fran

PARIS, Aug. 31 — Faced with lofty world crude oil prices, reflecting a perception of tight fundamentals and threats to supplies, Paris-based Institut Fran These higher oil prices also have sparked off the first signs of inflation in oil-exporting countries within the Organization for Economic Cooperation and Development, IFP observed. The decisive factors influencing prices, […]

This should push prices up

Yukos says they can’t pay workers and may have to reduce production.

CA

Coping with Oil Price Volitility

Slide 12 shows development of OPEC spare capacity.

EnergySeer PDF

American Electric Power to build clean coal generating plant

The plant, which would generate as much as 1,000 megawatts, would use integrated gasification combined cycle technology to convert coal into a gas and pass it through pollutant-removal equipment before the gas is burned. The result would be more efficient power generation with fewer emissions of nitrous oxides, sulfur dioxide, mercury and carbon dioxide, according to the company.

WasteNews

Axioms of the Global Economic Order

Axioms of the Global Economic Order September 01, 2004 Another big surprise for the bears will be when oil prices continue lower in coming months, as the oil price has already peaked (as predicted in my August 11 commentary, “Is Oil Running Out of Gas?”). This has been another of they lynchpin arguments for a […]

Crude Production at 99% of capacity – IEA

The EIA said world crude production was running at about 99 percent of capacity, spelling continued high prices into the foreseeable future.

“Any industry in which production is running at 99 percent of capacity to meet demand is likely to experience price pressure and there is no reason to expect that crude oil markets would not reflect these same fundamental economic forces,” the EIA said in its weekly review of the oil market.

Reuters

Bush tells Farm Progress crowd he believes in ethanol

“I believe in ethanol and I believe in biodiesel,” President George W. Bush told a crowd of about 13,000 farmers, ranchers and industry participants

@griculture Online

Bush’s ruinous economic plans

“There’s a growing consensus among experts that the most recent wave of oil price hikes is not mainly the result of market manipulation, refining bottlenecks, or the Iraq occupation but the harbinger of the long-predicted depletion of the world’s extractable oil reserves. With the huge populations of China, India, and other emergent economies joining the […]

Micheal Ruppert Interview

Michael C. Ruppert in interview with Sue Supriano of Steppin’ Out of Babylon. Ruppert talks about the thesis of his new book “Crossing the Rubicon: The Decline of the American Empire at the End of the Age of Oil” (forthcoming in late September) that 9/11 and the new world order of pre-emptive attacks is intimately […]

The destroyer

‘Prosperity will mean little,” declared George W Bush while on the stump as presidential candidate, “if we leave to future generations a world of polluted air, toxic lakes and rivers, and vanished forests.”

Guardian Unlimited

Venezuela Offers India Five Oil Fields

“We want strategic alliance with India, particularly in energy,” Perez told reporters after his meeting with Aiyar. He said the areas of cooperation will include oil and gas exploration and downstream retailing opportunities for Indian companies.

Forbes

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