Saudi Arabia Becomes Top US Crude Oil Supplier In August

Rigzone: Saudi Arabia was the top supplier of crude oil to the U.S. in August, regaining a position lost early in 2004, according to preliminary data from the U.S. Department of Energy. Rigzone

Shippers of crude pay dearly

HoustonChronicle: With global oil demand surging and prices hitting record levels, the world’s 1,500 oil tankers are all booked up, and their owners are charging hefty premiums. The shortage of tankers is one sign of how strong demand and a lack of investment have left the oil industry’s infrastructure stretched thin — meaning that any […]

Plan B: What Happens After Peak Oil?

Matthew Simmons presentationSimmonsco

PO = Y2k? We ‘ve heard it all before

On December 31, 1999 when the clocks ticked for the last time in the old year and then proceeded to quite happily keep ticking their chronological way into the new, hundreds of millions of people around the world rejoiced as they welcomed the 21st millennium. At the same time, thousands of people looked at their […]

Russian Oil Output Seen Slowing

The country’s crude oil output growth will slow significantly in 2005 as companies fail to maintain the hectic growth rates of recent years, crude pipeline monopoly Transneft’s head, Semyon Vainshtok, said Tuesday. “Russian companies have underproduced 14 million tons in January-September compared to what they initially planned,” he told reporters during a news conference. “This […]

IHS’s 10 year Petroleum trends 1994-2003

EPSOM, U.K.–(BUSINESS WIRE)–Oct. 18, 2004–IHS Energy, the world’s leading provider of oil and gas information and consulting services, has released its 2004 report on world petroleum trends which, based on its independent international database, provides a comprehensive 10-year summary of major country, regional and global trends in oil and gas exploration and production activity including: […]

Analysts Expect Oil Prices to Keep Rising

The two-day decline in oil prices, with crude futures briefly dipping below $53 a barrel on Tuesday, is a temporary trend that is likely to reverse itself before too long, analysts and traders said. The two-day decline in oil prices, with crude futures briefly dipping below $53 a barrel on Tuesday, is a temporary trend […]

Is Oil Heading For $100?

Yesterday, in writing about the rise in oil prices–which have roughly doubled in a year–I noted, “No one saw it coming.”

As it turns out, a few people did see it. And now some of those seers are saying the recent “spike” is no spike at all, but the start of a long-term trend. It may be that the price of a barrel of oil is heading for $100, if not higher, by the end of the decade.

Forbes.com

Why the price of oil is so high

Jude Wanniski(former associate editor of The Wall Street Journal)

Why is the price of oil so high? It is because the US dollar is floating, free of gold or any commodity anchor. As long as it is, the entire world will be forced to somehow accommodate this wholly unnecessary volatility in energy supply and price.

Aljazeera.net

Car buyers still shun fuel efficiency

Surveys find even $2-a-gallon gasoline isn’t likely to cause big change in car-buying habits.October 18, 2004: 3:44 PM EDT By Chris Isidore, CNN/Money senior writer NEW YORK (CNN/Money) – Even with the average price of gasoline crossing the $2 a gallon mark again, don’t expect U.S. car buyers to rush to fuel-efficient vehicles. Oil prices […]

Beyond the limits of fossile energy

Beyond the limits of fossile energy www.shell.nl Speech of Jeroen van der Veer – President of the committee of directors of royal/Shell group – at occasion of 25e the symposium van der Veer foundation in Leiden. Thanks to Smiley for the translation. Beyond the fossil energy of today lays the energy of tomorrow. Although a […]

Andrew McKillop: Lifestyle change at 55?

VHeadline.com oil industry commentarist Andrew McKillop writes: A skim through European business and finance magazines, and the tabloid press too, shows that old world mentalities and today’s real world oil prices do not go together like a lump in G. W. Bush’s back and nice pat answers to well selected questions in the TV sloganfest […]

Trouble in the World’s Largest Oil Field-Ghawar (Postscript)

(From the postscript) As the oil was extracted, a formerly producing well would be turned into an injector (a producer would become an injector), so you will see what it looks like today after lots of producers have been turned into injectors. Water is injected into the carbonate reservoir in order to maintain reservoir pressure […]

Oil Shortages And Oil Prices What Should We Do?

Oil Shortages And Oil Prices What Should We Do? By Owen McShane October 19, 2004 Governments around the world are becoming increasingly focused on the rapid rise in oil prices. They wonder if these recent prices rises are simply short term responses to short term problems, or whether they signal the end of the era […]

Greenspan’s 2010 Space Odyssey With Oil Futures

Oct. 19 (Bloomberg) — Federal Reserve Chairman Alan Greenspan sent his staff of economists on an oil-and-gas exploration mission in preparation for a speech last week to the National Italian American Foundation in Washington.

Bloomberg

China’s Quest for Oil

The Middle Kingdom can’t find enough oil to meet booming domestic demand—and the world is paying the price at the pump

….Today, however, output from China’s top four oil fields is in decline. By some estimates, the country’s current proven reserves will be depleted in as few as 14 years. Meanwhile, largely untapped petroleum pools believed to lie beneath western China’s desolate Tarim Basin are uneconomic to drill, even with prices at $50 a barrel….

Time Asia

Blast from the past – Cato says $30/bbl unlikely

But what about a more modest cutback; say, a move to bring oil prices to $30-40 a barrel? Such prices are always possible, but there’s little chance that OPEC could engineer them in today’s economy. Demand is slumping because of a global economic downturn and major non-OPEC producers — Mexico, Norway, and Russia — do […]

Oil prices ‘could hit $60′

Searching for Factors Behind Oil’s Steep Rise

Oil price up 80% from beginning of year

” Crude oil prices are the highest in a generation, rising by around 80 per cent from the beginning of 2004. However, even at current levels, crude oil prices are still about 40 per cent below the all-time highs – in inflation-adjusted terms – of February 1981.” Leeb, in The Oil Factor, suggests that an […]

Oil’s slippery slope

Oil Hits $55 Alarm; Greenspan Hits Snooze

9-11 Bombshell

While every major “mainstream” TV anchor, every major cable network news, all the major talk show gasbags and all the major newspapers in this country will shun this book and attack it’s author, I say read the book, read all the foot notes and make up your own mind. You be the jury and while […]

Recession clouds gather on the horizon

The world economy is currently dependent on the industrialised countries’ consumers purchasing goods, especially Americans. Yet the US is one of the countries where rises in oil prices will hit hardest.

Aljazeera.net

Nuclear Energy Is Making a Global Comeback

Nuclear Energy Is Making a Global Comeback By KATRIN BENNHOLD, International Herald Tribune Published: October 17, 2004 PARIS, Oct. 17 — With uncertainties increasing about supplies of natural gas and oil, nuclear energy is making a powerful global comeback, prompting concerns about atomic terrorism in the post-Sept. 11 era. A number of countries around the […]

Ralph Nader Mentions Peak Oil

…You all know, of course, that were it not for the hydrocarbonic riches of the Middle East, we would not be in Iraq today. You are also aware that we are fast approaching the era of “peak oil” and declining resources; and that we, Americans, with less that 5 percent of the world population consume […]

Crude Oil Rises to a Record Above $55 on U.S. Supply Concern

Crude Oil Rises to Record Above $55 on U.S. Supply Concern Crude oil for November delivery rose as much as 40 cents, or 0.7 percent, $55.33 a barrel, in after-hours electronic trading on the New York Mercantile Exchange and traded at $55.19 at 12:39 p.m. Singapore time. Prices have risen in 19 of the last […]

Peak Oil? Include Me Out (Thoughts of a Once Burned Y2K Activist)

Former Y2K Activist Mick Winter reminds us of the pitfalls of gloom-and-doom prophecies that don’t pan out. Most of his long essay, however, is an excellent analysis of Peak Oil. He ends by saying: Besides, crying wolf is of value only when the wolf is still in the distance and there’s time for the villagers […]

TRANSCRIPTS (Julian Darley on CNN)

News Anchor: The only answers to the energy problem are producing more or using less, but neither Bush nor Kerry is selling sacrifice on the campaign trail. The last President who did, Jimmy Carter, was trounced by Ronald Reagan.http://www.globalpublicmedia.com/TRANSCRIPTS/index.php?name=JULIAN%20DARLEY&origin=/&transcript=2004/10/CNN-fn.JulianDarley.Reporter-LouiseSchiavone.2004-10-13

Denmark causes international chill by claiming North Pole

Denmark has launched an extraordinary bid for ownership of the North Pole, one of the world’s last untapped sources of oil and natural gas. In recent decades the remote polar region has largely been left to a few explorers and tourists. Now, however, the effects of climate change have dramatically raised the stakes. Scientists estimate […]

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