USA: Production fell 15% while demand rose 3%

Rising prices have been driven by tight supplies. The American Petroleum Institute reported Wednesday that U.S. oil production fell 15 percent in September to the lowest monthly level in more than half a century, led by sharp declines in output from Alaska and the hurricane-hit Gulf of Mexico region. In the same month, the API […]

Top 50 oil companies

Energyintelligence: Top 50 oil companiesEnergyintelligence

Doomsday Rhetoric Ignores Signs of Growth in Global Production Capacity

IHS Energy: Under the radar of headline-grabbing issues, though, is evidence that the current dire trends may not be long-lived. On the basis of bottom-up tracking of significant worldwide liquids development projects and assessment of oil-depletion rates, IHS Energy forecasts that global output capacity will increase to approximately 85.5 million BOPD by 2008. Much of […]

Gulf oil industry faces acute labour shortage

12 October 2004 ABU DHABI – The ongoing massive investments in the Gulf petroleum has created a shortage of specialised workforce and the problem is expected to become acute by the year 2008 when more than 58,000 people would be needed. To bridge this demand-supply gap of specialised manpower, Al Hamed Establishment, a subsidiary of […]

Hydrogen Car Powered By Solar Panels

A US high school has remarkably developed and built a truck which runs on hydrogen created by electrolysis using energy from solar panels. However, those optimistic about the prospects of such ‘green’ vehicles should take note that the system only produces enough hydrogen to power the truck for 1.5 miles per day, and this requires […]

“POST INDUSTRIAL STONE AGE” — JUSTIFICATIONS

“So the spiral down will be like the vortex of a toilet bowl; the velocity of the water is gentle on the edges, and motion is barely discernible; but the action is progressively more violent the closer to the middle one gets, until the rate of decline in the middle — where all the REAL […]

Plastics hit by oil price hikes, supply shortfalls

CHRIS CLARK: Paying $1.10 for a litre of petrol is bad enough, but the impact of high oil prices doesn’t stop there. When oil goes up, so does the cost of another of life’s essentials, as Stephen Long explains. STEPHEN LONG: When it comes to rising oil prices, this is only part of the story. […]

Frost: Combating ‘The End of Suburbia’

As America plunges like a runaway stallion toward what will probably be the most important election in our lifetimes, it’s hard to write about anything else. But a DVD we saw last week at an interesting venue – a converted warehouse named 38 Cameron for its North Cambridge street address – is screaming for my […]

FBI shuts down 20 antiwar web sites: an unprecedented act of Internet censorship

Forties, Cromarty … where next?

The Guardian: “Nobody will put an exact date on when Britain will run dry of oil but energy consultancy Wood Mackenzie believes the country will be producing as little as 23,000 barrels of oil a day by 2025.”The Guardian

THE ENERGY CHALLENGE 2004 — Wind

Whatever you think you know about wind, especially the negatives, if it was based on data and analysis prior to 2000 you can be pretty sure it’s wrong. Wind has made enormous strides in the last 15 years. In 1992 the average size of installed wind turbine was 200 kW. In 2002 it was 1.4MW. […]

SEG speakers see looming world shortfall in transportation fuels

DENVER, Oct. 12 — A dangerous shortfall in the supply of transportation fuels is likely to hit the world soon because demand is rising faster than industry’s seeming ability to fill it, several speakers told a globalization forum at the Society of Exploration Geophysicists annual meeting here Monday. Oil&GasJournal

Today on Canada’s Business Report…Peak Oil and the Oil Crisis

host Donna Guzik finds out about Peak Oil theory, a movement that has been
gaining momentum as the price of oil hits record highs.

Canadian Business Report

Hydrogen Economy looks out of reach

Not much new here, article mostly of interest because it reports analysis done by economists that basically say forget about the hydrogen dream. Not the usual source for such analysis.

news@nature.com

Saudi September ‘04 Production Lower Than Estimated

Saudi September Production Lower Than Estimated Monday, October 11, 2004 Saudi Arabia produced 9.5 million barrels per day in September, about 250,000 b/d below earlier estimations, Geneva-based tanker-tracker Petrologistics said in its latest report. http://www.rigzone.com/news/article.asp?a_id=17050Saudi September Production Lower Than Estimated Monday, October 11, 2004 Saudi Arabia produced 9.5 million barrels per day in September, about […]

International Energy Agency raises oil demand forecast

Highlights of the latest OMR dated: 12 October 2004 The global oil demand forecast has been raised by 240 kb/d for 2004, to 82.4 mb/d, but trimmed by 70 kb/d for 2005, to 83.9 mb/d. The cut reflects expectations of slower economic growth and the impact of high oil prices on demand and the economy. […]

Britain’s Bounty Is Running Dry

The fact is UK oil and gas, which has given a big boost to the economy for the past two and a half decades, is running out fast. At current rates of extraction, the last drop of oil could be sucked out of the North Sea fields in about 10 years’ time. Guardian The fact […]

China to build four major oil reserve bases

China will formally launch its strategic petroleum reserve program next year, as learned from related departments. An oil reserve base in Zhenhai, Zhejiang Province is now under construction, which will be able to hold more than 5 million cubic meters oil when its first-stage project is completed next year. Upon completion, the four bases will […]

Oil panic pushes up risks

Economy can adjust to oil at $50, or even $80, a barrel but the transition would be risky. By Edward Hadas, Breakingviews LONDON (Breakingviews) – The price of oil keeps rising. That means three things: First, there will be calls for greater energy efficiency. Second, the balance of interest rates and growth rates looks even […]

Growing militarization of our oil dependence

RISING GASOLINE prices and tight global supplies have given fresh impetus to claims that the world is fast approaching the moment of “peak” oil production, beyond which we can expect declining energy output and economic decline. While there is no doubt that global oil output will attain peak levels, the current rise in prices reflects […]

Crude Oil Prices Breach $54 Mark in Asia

Crude oil prices breached the $54 mark Tuesday to reach a new all-time high, fueled by continuing worries over supply in Nigeria and reduced output in the hurricane-hobbled Gulf of Mexico.

www.forbes.com

Fury at price rises fuels all-out strike

The Scotsman Oct 12

A FOUR-DAY general strike over rising fuel prices has begun in Nigeria, Africa’s largest oil producer.

More strikes will follow if a 25 per cent price increase is not reversed, the largest trade union in the country, the Nigerian Labour Congress, warned.

The rise has been prompted by the partial removal of domestic fuel subsidies last year.

The dispute has caused continuing uncertainty in world markets over Nigeria’s ability to maintain exports as oil prices hit record levels.

More:

Scotsman article

Congress OKs $136 billion in tax breaks

Analyst warns of Saudi oil dropoff

Simmons said prolific Saudi oil fields show signs of peaking and then gradually declining. Simmons, chief executive of Houston-based energy investment banker Simmons & Co. International, spoke to the Desk & Derrick Club of Denver, a petroleum trade association.
“They’re taking the last of the easy oil out,” Simmons said of Saudi oil producers. “They’ve had very little success in new exploration. Their sweet spots are probably very nearly depleted.”

Denver Post

IEA Oil Market Report

IEA-OMR: World oil supply rose by 640 kb/d to 84.0 mb/d in September. Non-OPEC output fell for a third month, by 100 kb/d. IEA

Saudi Arabia: Stable Oil Provider No More?

Neftegaz/ Petrologistics: “Saudi Arabia’s oil production capacity did not answer expectations – 9.5 million barrels per day in September are about 250,000 bpd below earlier estimations, according to the data of Geneva-based tanker-tracker Petrologistics said in its latest report.”Neftegaz

Britain’s bounty is running dry

Guardian: Although Gordon Brown urges the members of the Opec oil producing cartel to increase production to bring down prices, he will be quietly rubbing his hands with glee at the benevolent effect dearer energy is having on the UK’s public finances. With all the taxes levied on the North Sea oil and gas industry […]

Germany Opens World’s Biggest Solar Plant

The world’s biggest solar power plant was inaugurated in the German town of Espenhain Wednesday. The plant cost €22 million ($26.5 million) to build and is capable of generating five megawatts of electricity. Energy for 1,800 households. … the amount of electricity generated in Germany by renewable energy sources — as opposed to fossil and nuclear fuel — has more than doubled, from 4 to 9 percent.

Deutsche Welle

Renewables Made in Germany

At a time when oil prices are at a record high, Germany is one of the world’s leaders in developing renewable energy. After progress in wind and solar power, Germans are looking to find a replacement for gasoline.

Deutsche Welle

Chart watchers eye $70 peak for oil’s record run

LONDON: Signals are growing that oil’s price surge could push all the way to $70 a barrel, according to the technical analysts who forecast market trends by interpreting chart patterns.

Crude’s 60 percent run-up this year to $50 record highs has been driven in part by fund investors who use chart signals to guide many of their big-money bets. With prices now in uncharted territory, technical analysts say the blistering rally shows few signs of slowing and suggest prices could peak at $70 – nearly $20 above current prices.

Daily Times (Pakistan)

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