Venezuelan president to talk arms, energy in Moscow: official

Venezuelan President Hugo Chavez is to discuss arms and energy during a two-day Russian visit due to begin Thursday, Itar-Tass news agency said, quoting foreign ministry spokesman Alexander Yakovenko.
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Post peak global trade: oil for armament?
Petroleumworld

How secure is Saudi oil?

Though oil prices have retreated from their record highs of October, a terrorist attack on oil installations in Saudi Arabia could send them soaring to new heights, according to a leading industry analyst.Such attacks now take place on a regular basis in neighboring Iraq, where insurgents have targeted oil pipelines and even staged a suicide […]

Caltech physics professor warns that there is no perfect energy solution

Published on Tuesday, November 23, 2004 by ABC (Australia) Professor Goodstein discusses lowering oil reserves By Tony Jones TV PROGRAM TRANSCRIPT TONY JONES: Now to tonight’s guest – David Goodstein is professor of physics at the California Institute of Technology or Caltech. In his latest book, ‘Out of Gas’ – the End of the Age […]

Oil supplies rise

NEW YORK (CNN/Money) – U.S. crude oil supplies climbed for the ninth straight week, the government reported Wednesday, but came in well below estimates — while inventories of fuel used for heating snapped a nine-week losing streak, rising far more than analyst estimates. Crude inventories rose by 100,000 barrels in the week ended Nov. 19 […]

Global supply threats, possible OPEC output cut weighed

Crude-oil futures slipped from a $50 peak Tuesday, but still closed at their highest level in over two weeks as traders remained nervous about the outlook for global supplies ahead of the Thanksgiving holiday and this week’s U.S. inventory updates. “The issues facing the oil markets aren’t going away anytime soon and it’s a long […]

Innovation seen crucial to future energy supply

Escalating world oil demand and declining production rates will push the world toward unconventional forms of energy, including synthetic hydrocarbons, said speakers at an annual oil and gas conference hosted by Deloitte & Touche LLP, the US arm of Deloitte Touche Tohmatsu.

“It’s already too late to modify the energy mix for 2020,” said Pierre-René Bauquis, a retired petroleum engineer and an associate professor at the Institut Français du Pétrole near Paris. “Not only are we going to face a world oil peak, we are going to face a world gas peak 20 years later.”

OGJ

Wall Street stalls on oil price spike

Time is GMT + 8 hours Posted: 24 November 2004 0728 hrs Wall Street stalls on oil price spike NEW YORK: Wall Street stalled on Tuesday as volatile oil prices shot briefly above US$50 a barrel before receding, but the movement sent edgy investors scattering to the sidelines for cover. The Dow Jones Industrial Average […]

Comments on papers from Hubbert’s files

Comments on papers from Hubbert’s files at the American Heritage Center, University of Wyoming by Jean Laherrère [2004 November 19]

Laherrere/ Oilcrisis

Oil prices prompt another look at shale

The U.S. government said Tuesday it was ready to resurrect oil shale drilling in the Rocky Mountains, a technology heralded 30 years ago to boost America’s energy output until it failed financially. MSNBCAbout half of the world’s oil shale reserves are estimated to be located in the United States, with other big reserves in Russia, […]

Quebec should boost hydro capacity to enhance exports

MONTREAL, Nov 21, 2004 (The Canadian Press via COMTEX) — Quebec should use its plentiful hydroelectric capacity as an economic development tool, just as Alberta has done with oil, Premier Jean Charest said Sunday. “If Alberta can get rich with petroleum, why can’t Quebec get rich with its electricity?” the Liberal leader told a party […]

Oil experts see peak oil as possibly now or by 2020

Innovation seen crucial to future energy supply By Paula Dittrick Senior Staff Writer HOUSTON, Nov. 23 — Escalating world oil demand and declining production rates will push the world toward unconventional forms of energy, including synthetic hydrocarbons, said speakers at an annual oil and gas conference hosted by Deloitte & Touche LLP, the US arm […]

Economic `Armageddon’ predicted

Stephen Roach, the chief economist at investment banking giant Morgan Stanley, has a public reputation for being bearish.

His prediction: America has no better than a 10 percent chance of avoiding economic “armageddon.”

Boston Herald

OPEC Majority Backs Current Output

OPEC Majority Backs Current Output, Officials Say (Update1) Nov. 23 (Bloomberg) — OPEC at its next meeting should agree to keep oil output at its current level to help fill inventories and prevent a jump in prices during the U.S. winter, said two OPEC officials involved in the group’s discussions. Saudi Arabia, Qatar and other […]

IEA predicts oil demand at 121 million barrels in 2030 using 1.6% growth

Published on Sunday, November 21, 2004 by The Desert Sun New study analyzes global energy resources By Morris Bechloss In a long awaited analysis of global energy resources, the Paris-based International Energy Agency attempted to calm fears of severe world energy shortages anytime soon. Since the IEA is recognized as the pre-eminent global source for […]

G. Monbiot:

The adoption of biofuels would be a humanitarian and environmental disaster If human beings were without sin, we would still live in an imperfect world. Adam Smith’s notion that by pursuing his own interest, a man “frequently promotes that of … society more effectually than when he really intends to promote it”, and Karl Marx’s […]

Oil Over $49 on Heating Fuel, Iraq

NZ scientists see way to replace oil

19.11.2004
By SIMON COLLINS

New Zealand scientists have found a breakthrough method of purifying hydrogen, using ironsands, which may help the world to develop a clean-burning replacement for oil.

The process uses the North Island west coast’s unique volcanic ironsands to help to extract pure hydrogen from water.

New Zealand Herald

China’s Crude Imports Hit Record High, No Letup

SINGAPORE -(Dow Jones)- China has smashed its full-year crude oil import record and is on track to breach the 100-million-metric-ton mark this year, official data showed Monday. UPDATE: China’s Crude Imports Hit Record High, No Letup SINGAPORE -(Dow Jones)- China has smashed its full-year crude oil import record and is on track to breach the […]

Oil price trends through 2004-2010

By Andrew McKillop Recent headline data from the OECD’s IEA, the US EIA, and data from leading oil analysts concerning world production and inventory stockbuild in key consumer countries, together with ‘traditional’ claims by certain analysts that OPEC is still able to ’overproduce’, is taken by some commentators as offering a prospect for oil prices […]

McKillop on market and economy

..three ‘new paradigms’ for annual average per capita demand can be posited, as shown in the Table, below. All of these paradigms lead only to one conclusion: sharply higher oil prices. In addition, these potential new trends rates of per capita demand and world demand growth on a 3-year base are themselves driven by a […]

Iraqi Oil Changes Course

Until the war began all of Iraq’s $20 billion oil exports were handled by French, Russian and Chinese oil companies. After the war American and British companies undertook this job.

Zaman, Turkey

Alternative fuel activist has plan to eliminate oil

automakers and energy firms need to adopt new business strategies, and lawmakers need to craft policies that promote this oil-free future. By Lovins’ estimates, it will require an investment of $180 billion over ten years.

That’s less than the U.S. involvement in Iraq will end up costing, and Lovins said it will save $70 billion a year by 2025.

To pay for such programs, Lovins proposes fees on gas-guzzling vehicles and the opposite — rebates — for fuel-efficient vehicles.

Lovins’ message doesn’t sit well with the auto industry.

Houston Chronicle

Interviews about Peak Oil and Solutions

What do you think are the best ways for people in the US to turn the tide from rampant oil addiction/consumption to a more sustainable path? What are the major roadblocks, and what models exist out there that we can start imitating now?

HopeDance

Rice University professors debate peak oil

With Oil Production Near Peak, Analysts Worry About Meeting Growing Demand By Greg Flakus Houston, Texas 19 November 2004 One of the big economic stories this year has been the high price of oil. As winter approaches in the northern hemisphere, there is growing concern about rising prices for heating fuel. Some economists see the […]

Greenspan scares off investors as oil rises

Greenspan scares off investors as oil rises By Richard Webb November 21, 2004 The Sun-Herald Financial markets were sent reeling yesterday by strong comments from US Federal Reserve chairman Alan Greenspan on America’s ballooning trade deficit and a surge in the price of crude oil. The Australian dollar was pushed to a nine-month high of […]

China Barrels Ahead in Oil Market

By Don Lee Times Staff Writer SHANGHAI — About a three-hour drive south of Shanghai, along the East China Sea, workers are building 52 gigantic tanks, each capable of holding more than 25 million gallons of oil — enough to supply every driver in China with gasoline for a month. The storage tanks will help […]

G20 MEETING G20 sees mid-term oil price 35-40 usd – communique document UPDATE

BERLIN (AFX) – Finance ministers and central bank governors from the world’s 20 leading economies expect the price of oil to move between 35-40 usd per barrel in the medium term, according to a document they will publish with their communique at the conclusion of the G20 meeting on Sunday. The G20 document, obtained by […]

Higher oil prices mean expanded activities for Shell

“I think we can be more optimistic in terms of price going forward than we have been in the past. And we’ve taken that into our own planning assumptions. That still doesn’t give you $50 crude, but it does give you a sensible way of looking at the future.”

Glob and Mail

Michael Klare and Robert Ebel on Onpoint radio

The Michael Klare Interview starts at about the 7 & 1/2 minute point.

GPM

US military on the scent of oil

Now, under the “Bush Doctrine”, oil has become the catalyst for preventive war.

Why this is so obvious is from the vast quantities of petroleum the US economy consumes – 26% of global consumption by 5% of the globe’s population. Fourteen of the top 15 foreign sources of crude oil in the first two months of 2004 were countries with direct access to the US (Canada and Mexico) or access to the world’s oceans for direct transport. (The 15th, landlocked Chad, whose oil sector first came on line in late 2003, exports its oil through Cameroon.) Maintaining this immediate access keeps prices low without seriously impeding the profligate “easy rider” mentality of a significant portion of the public.

Asia Times

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