Why a Conference on Peak Oil?

Email alert from Richard Heinberg Many people are aware that something is wrong in our society. Is it our lifestyle of consumption? Growing government debt? Global destruction of the environment? Disconnection of politics from the people? Or might these be symptoms of a greater problem – our addiction to cheap, abundant oil. “Peak Oil – […]

Crude arguments – The Economist

…The biggest fallacy is that the world is about to run out of oil. A spate of recent books, with such titles as “Out of Gas”, argue that oil is scarce, and that an impending crisis will put the crises of the 1970s and early 1980s in the shade. Some see the recent rise in […]

$50 oil missing from the debate

Here are three numbers that ought to matter to you. $2.30. $51. $300 billion. The first number is what I paid for a gallon of gas Tuesday when I filled up my car. The second is the record price reached on U.S. markets this week for a barrel of high grade crude oil. The third […]

Just how high will oil prices go?

Investment advice from Dr. Marc Faber I maintain the view that we may see sometime in future far higher prices than anybody envisions. The current oil bull market is purely a function of increased demand coming principally from Asia at a time global oil production has practically no spare capacity. China’s car population has more […]

Gas prices skyrocket, long queues at the gas-station

Gas prices skyrocket By Lou Sian Daily Journal correspondent Summer may be over, but gasoline prices continue to climb. Traditionally, gasoline prices decline in the fall when demand is lower. But instability in oil-producing countries and disruption to delivery systems created by hurricanes in Florida are some factors affecting consumers at the pumps, according to […]

Kerry Calls for

Kerry: Bush’s Iraq ‘Mismanagement’ Hikes Gas Prices Oct 11, 3:00 PM (ET) By Patricia Wilson … Speaking in New Mexico, Kerry reminded voters that the state was home to the Manhattan Project that marshaled the knowledge and technology during World War II to build nuclear weapons. He called for a similar effort to push scientists […]

Producers cash in on record-high oil prices

Traders worried
“No one is listening to OPEC at the moment. They are only communicating, they are unable to take action. OPEC cannot do anything about the current situation,” Societe Generale’s Lasserre said.

They may have spare capacity in Saudi Arabia but it is oil the market does not want. Heavy sour crude is not the sort of oil that is needed to bring down prices. As a result the market is not paying much attention to OPEC.”

Aljazeera.net

North Sea production wilts

North Sea oil production has sunk more than 260,000 barrels per day from last year, aggravating a shortage of high-quality crude that has stoked record prices. The decline is concentrated in the British sector of the North Sea, where industry analysts Wood Mackenzie said average production for the first half of 2004 was 1.9 million barrels per day, down around 12 percent from the level of 2.166 million a year ago.

Chron

Searches failing to pay for oil groups

Research by energy consultancy Wood Mackenzie showed the commercial value of oil and gas discovered over the past three years by the ten largest listed energy groups was well below investment made in exploration.

Scotsman

Stop Me If You’ve Heard This One Already

Saudis vow to meet oil demand By Abu Dhabi October 11, 2004 Saudi Oil Minister Ali al-Naimi said in Abu Dhabi yesterday that his country was ready to meet rising demand for crude oil to ease the surge in world prices. “My message to the world (is) there’s no shortage, there’ll be no shortage, and […]

Mexico’s Brick Wall

How steep is the coming brick wall? … Basically, opening the southern Gulf of Mexico Deepwater will do no more than temporarily slow the decline, producing a new plateau from 2011 and beyond. … What does this represent? It is nearly 2% of current world production. The loss of that production will keep the upward […]

Asian Cloud

http://www.grist.org/news/daily/2004/09/28/1/ Death, Be Not Cloud Asian Cloud menaces world’s most populous continent In the new book Feeling the Heat, Jim Motavalli describes a phenomenon that’s likely to give you nightmares. Seriously, just stop reading. Okay, we warned you: Hovering in the atmosphere over the Indian Ocean and other Asian waters, and covering some 10 million […]

Brazil, the Brightspot Dims

Brazil has been one of the countries where oil production has been constantly rising for the past 30 years. They are one of the countries who is taking up the slack for declines elsewhere. … The thing to notice in the above is how old most of these big fields are. Most were discovered in […]

Nigerian unions launch four-day strike

Nigeria unions have launched a four-day general strike to protest rising fuel prices, but oil shipments from the world’s seventh largest exporter are proceeding normally.

Reuters

Climate Fear As Carbon Levels Soar

Scientists bewildered by sharp rise of CO2 in atmosphere for second year running An unexplained and unprecedented rise in carbon dioxide in the atmosphere two years running has raised fears that the world may be on the brink of runaway global warming. Scientists are baffled why the quantity of the main greenhouse gas has leapt […]

New look at abandoned wells

Once abandoned wells are drawing attention in the US.

http://news.ft.com/cms/s/0ff7d832-1ada-11d9-9fe4-00000e2511c8.html

US developers see hope in abandoned oil wells

“The US sits on 3 per cent of the world’s proved oil reserves and accounts for more than a fifth of global consumption, making nonsense of the “energy independence” stances of both presidential candidates. But it has spare oil a-begging.” The most interesting part is tucked away in the last couple of paragraphs… Developers like […]

Climate fears on sharp CO2 rise

An unexplained rise in levels of carbon dioxide (CO2) in the Earth’s atmosphere has raised fears global warming is speeding up, according to reports. http://news.bbc.co.uk/2/hi/science/nature/3732274.stm

Top oil groups fail to recoup exploration costs

The world’s biggest oil companies are failing to get value for money when they explore for new reserves, according to research by Wood Mackenzie, the energy consultant.

The report shows the commercial value of oil and gas discovered over the past three years by the 10 largest listed energy groups is running well below the amount they have spent on exploration.

Financial Times

Opec won’t raise output despite high oil prices

Opec won’t raise output despite high oil prices BALI (Indonesia) – The Organisation of Petroleum Exporting Countries (Opec) has no plan to raise output despite record oil prices, the group’s president said on Friday. This is getting funnier by the minute… Enjoy. Cheers, Opec won’t raise output despite high oil prices BALI (Indonesia) – The […]

Venezuela Raises Taxes on Orinoco Deals

Venezuela Raises Taxes on Orinoco Deals

source

Oil Wars: Transforming the American Military

Iraq is hardly the only country where American troops are risking their lives on a daily basis to protect the flow of petroleum. In Colombia, Saudi Arabia, and the Republic of Georgia, U.S. personnel are also spending their days and nights protecting pipelines and refineries, or supervising the local forces assigned to this mission. American […]

Saudis ready to hike oil output

Andrew McKillop: Energy transition and final energy crisis

For oil, the myth of OPEC always being the ‘supplier of last resort’ has in 2004 already been discredited if not finally destroyed. Soon after the present and short-term ‘price crisis’ … which can only intensify in the 2005-2008 period … and within at most 10 years, both oil supply and natural gas supply will enter into constant and terminal decline, due to physical depletion.

VHeadline News

Self Suficient Hydrogen Vehicle Pioneered

The ungainly looking Chevy pickup parked in the courtyard at Central High School, with a huge set of solar panels mounted on top, may not look so futuristic. But it certainly points the way. Hand-built on a shoestring budget by a Central physics teacher and a team of students, the truck is one of a […]

We’re Back…

As many of you know, peakoil.com experienced an outage recently, and was unavailable for 4 days.

As oil & gas prices have surged recently, so has mainstream attention to this growing problem. This has resulted in websites like peakoil.com growing at an exponential rate, as more and more people seek an answer to the question of what’s driving higher oil & gas prices.

This growth quickly outstripped our former host’s ability to handle the growing traffic, and along with a series of technical mistakes by this host, caused peakoil.com to be disabled.

The quick action, technical expertise, and dedication of the sponsors of this site turned this around within 48 hours, and PO.com is back online!

We received a massive and inspiring swell of support from our members & guests over the last 2 days, and we want to thank everyone for their kind comments, and offers of support.

It seems clear from the volume and passion of responses to our absence, that this global community has grown beyond the confines of a simple interesting website, into an important and meaningful resource; a kind of digital “watering hole” which the community not only wants… but demands.

We hear you… and we know you’re not kidding around… & neither are we. We renew our commitment to continue servicing the needs of this “coalition of the informed”; the global Peak Oil village.

The staff at peakoil.com wishes to express it’s thanks to everyone for making this site possible, and communicate our sincere commitment to promoting awareness & education of global hydrocarbon depletion issues.

As is the case for many movements, this site had a rather humble beginning, and is the result of the modest wish of a single man, to create a place where anyone can learn & contribute to the debate. Kudos go out to this site’s creator, Dan C. for conceiving of, and providing this place, which has become so important to many of us.

We continue to believe that this site is most valuable because of it’s only affiliation…that of humanity. There is only one goal or objective here; promoting awareness of depletion issues.

We have no illusion that we can solve our energy problems ourselves, and so are committed to putting this information into the hands of those who can… & that’s you.

For me personally, it’s a rather simple decision. After seeing my own fears for our collective future mirrored in the “digital eyes” of hundreds of people around the world, it’s really no choice at all. I love my son & my family, our community and country; & our world more than I can express in simple words. The best I can manage is this simple gift.

peakoil.com

Denmark wants to claim North Pole

COPENHAGEN – Denmark aims to claim the North Pole and hunt for oil in high Arctic regions that may become more accessible because of global warming, the Science Ministry says. It said Denmark would send an expedition to try to prove the seabed beneath the Pole was a natural continuation of Greenland, the world’s biggest […]

The Daily Reckoning,Eric Fry, reporting from Manhattan

Crude oil jumped to another all-time record yesterday, in the process increasing the already considerable wealth of T. Boone Pickens… – “Better late than never” would seem to be a fitting description of Mr. Pickens’ financial fortunes. The one-time corporate raider didn’t do too badly for himself during the 1980s, when, as president of Mesa […]

PdVSA’s Rodriguez: Oil Prices Won’t Decline Until 2Q ‘05

RIO DE JANEIRO (Dow Jones)–The president of the world’s fifth biggest oil exporter, Petroleos de Venezuela SA (PVZ.YY), or PdVSA, said Wednesday that he doesn’t expect oil prices to fall before the second quarter of next year. 10-06 12:28: PdVSA’s Rodriguez: Oil Prices Won’t Decline Until 2Q ‘05 DJ PdVSA’s Rodriguez: Oil Prices Won’t Decline […]

Richard Heinberg’s Latest Museletter (by permission)

A note to readers: These days I am working on a completely revised edition of The PartyMuseLetter 150 / October 2004 The Peak Is Nigh Everyone knows that oil prices have grown volatile in recent months. Explanations include rising demand from China and supply limits resulting from pipeline sabotage in Iraq. Some commentators note that […]

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