China makes a grab for oil

Tension rises as China scours the globe for energy By Richard Spencer (Filed: 19/11/2004) China’s insatiable demand for energy is prompting fears of financial and diplomatic collisions around the globe as it seeks reliable supplies of oil from as far away as Brazil and Sudan. An intrusion into Japanese territorial waters by a Chinese nuclear […]

Gulf’s oil cash pouring into stocks

Gulf Arab investors are pouring liquidity from soaring oil prices into equities, with at least a dozen initial public offerings and rights issues ready to hit the region’s market shortly, experts say.The new issues are likely to mobilise some $3.1 billion this year compared to less than a billion in 2003, according to analysts. It […]

Break up OAO Yukos

On Friday, Russia moved ahead Friday with plans to break up OAO Yukos, announcing it would auction off a majority stake in its main production unit. The bidding in the Dec. 19 auction will start at $8.6 billion — lower than even the most conservative independent valuation.

Yahoo
(at bottom of article)

Greenspan Warns About Trade Deficit Impact

The persistence of bloated U.S. trade deficits over time can pose a risk to the U.S. economy, which thus far has proven resilient, Federal Reserve Chairman Alan Greenspan warned Friday. Policy-makers must not get lulled into a sense of complacency, he said.“Current account imbalances, per se, need not be a problem, but cumulative deficits … […]

The Case for Cheaper Oil

THE SUPPLY SIDE. Evans says that while no one really knows how much oil is in the ground, he believes global supplies are unlikely to run out for at least 100 years. Big companies have proven reserves that are good for 20 years, he asserts. While growth in Asia is sure to push global demand ever higher, Evans thinks that the supply of recoverable crude oil is likely to expand. Here’s why:

BusinessWeek

Energy fails to gain traction, despite high prices.

America traditionally has left investments to private investors, not to Politburo-style five- or 10-year plans. Still, the politicians will insist that they know best, although any sane person realizes that no energy strategy will cure anything that ails the economy. The best US energy policy would be No Policy.

WorldOil

Brilliant Game/Sim of USA Oil consumption

Wow, this is fun, You can be President for Five minutes. (and a somewhat more competent one ha ha) It is a simulation where you set oil reduction targets and see how this affected US oil consumption in 2020. Try it: Oil Sim I reduced consumption by 7.04 m barrels a day, though possibly my […]

Paul Roberts discusses Peak Oil on Utah radio talk show

Jenny Brundin examines the phenomenon of “Peak Oil.” How soon will we really run out of oil, what does it mean for an economy fuelled by oil and is there any resource waiting in the wings to replace it? Guests Paul Roberts, author of “End of Oil,” and University of Utah Geoscientist Dr. Rasoul Sorkhabi […]

Peak Oil, Stolen Elections, Energy Wars

An Interview with Michael Ruppert

MR: You have the wrong perspective on China altogether. Globalization is dead, d-e-a-d. It is based upon shipping raw materials and finished goods all over the planet. Hence we have 10,000 mile Caesar salads; tin and aluminum packaging that travel 20,000 miles from mining to manufacture to store; Chilean strawberries in Los Angeles markets instead of those grown right here in California. All of that is made possible by cheap oil.

newtopiamagazine.net

Winter Weather Warmer in West, Cooler in East

WASHINGTON (Reuters) – Winter weather in the United States, affected by a weak El Nino, will be warmer in the West and cooler and wetter in the South and Southeast, forecasters predicted Thursday. The U.S. East, including the Northeast which is the biggest consumer of heating oil in the world, should get cooler-than-average temperatures, according […]

Oil supply-demand gap by 2007

ODAC: World oil supplies likely to remain tight through 2010 By OGJ editors HOUSTON, Nov. 17 — Unless demand plummets, world oil supplies are nearly certain to remain tight through the rest of this decade, according to a study by the Oil Depletion Analysis Centre in London. The study found that 68 oil-recovery “megaprojects” with […]

Oil prices rise on heating fears

Oil prices rose again on Wednesday after US government data showed heating stocks ahead of winter remained 16% down on 2003 levels.

BBC

Geo-Bio-Reactor

DISCOVERY OF REAL-TIME NATURAL GAS FORMATION OFFERS PROSPECT FOR RENEWABLE ENERGY RESOURCE, Powder river basin could provide natural gas for centuries instead of decades Researchers at Luca Technologies, Inc. have made a discovery regarding natural gas production in Wyoming’s Powder River Basin that could lead to a renewable source of energy for generations to come. […]

# Transcripts: Sonia Shah on Crude: The Story of Oil (1 October 2004)

I transcribed her 30 minute talk for my fellow oil-peak friends to copy and/or print-out her many concise descriptions.

http://www.globalpublicmedia.com/transcripts/sonia_shah_on_crude_the_story_of_oil

Obstacle to drilling for oil in ANWAR is removed

A controversial plan to allow oil drilling in Alaska’s Arctic National Wildlife Refuge is likely to move forward now that there will be enough votes in the Senate to push the measure ahead.

By one federal estimate, the refuge holds more than 4 billion barrels of oil ready for the taking.

http://www.usatoday.com/news/nation/2004-11-17-oil-drilling_x.htm?csp=34

Energy firms say price brings issues

Costly oil leads to more cash, but no new sources Despite high oil prices, the mood among energy companies isn’t all jubilation. At least not in public.At consulting empire Deloitte’s annual oil and gas conference in downtown Houston Wednesday, analysts, academics and the occasional CEO hashed out the downside of today’s energy industry. Conference speakers […]

Smalley raises problem of fossil fuel depletion at Nanoforum

During a keynote speech on the first day of NanoForum, Richard Smalley,
director of the Carbon Nanotechnology Laboratory at Rice University in
Houston, Texas, identified the shortage of fossil fuels as the most
significant problem facing human civilization. Nanotechnology has the
potential to provide an energy storage capability so that alternative energy
sources can be widely adopted. “We need new technology to solve the energy
problem,” he said.
However, Smalley warned that the U.S. would experience a shortage of
future scientists to find solutions to these problems. That’s because fewer
young people were pursuing science and technology as careers. “Where are the
new Edisons?” he asked.
“The era of Sputnik and the moon shot were the only time we were
successful in getting American kids into science and technology,” said
Smalley, who won the Nobel Prize for chemistry in 1996 for his discovery of
“buckyballs” — the soccer ball-shaped molecule which is the third carbon
element.

PR Newswire

The Energy Challenge 2004 – Petroleum

There is a phenomenon, well known in the oil industry, but little publicized, that when an oil field has been about 50% depleted, production begins an irreversible decline. In 1956 a petroleum geologist named M. King Hubbert applied this concept to an analysis of the lower 48 states, and predicted a decline of production starting about 1970. He was derided at the time, but lower 48 USA oil production has been in decline since 1970. The phenomenon has been named the Hubbert Peak, and the production growth and decline curve is often referred to as a Hubbert Curve.

EnergyPulse

Oil headway will fail to meet demand by Adam Porter

During the next six years, global oil supplies will be constantly tight. Even with a minimum of demand growth and a series of fields ready on the day they are supposed to be, shortfalls will still occur.Negative capacity “What is worrying in itself is that after 2007 the number of projects of any sort really […]

Summary of Weekly Petroleum Data for the Week Ending November 12, 2004

At 292.3 million barrels, U.S. crude oil inventories are in the middle of the average range for this time of year. Distillate fuel inventories fell for the ninth week in a row, dropping by 1.0 million barrels, and remain below the lower end of the average range for this time of year.

EIA-DOE

Planet Under Pressure Videos

from the BBC

BBC

U.S. Natural Gas Production Continues to Decline

Article from Financialsense:

The bottom-line story for the natural gas sector remains the same: U.S. natural gas production is heading down, despite a huge increase in drilling activity.

Oil fuels Asian giants’ tensions

As well as the tensions resulting from their troubled history, Shen Dingli, an international relations specialist at China’s Fudan University, points to two contemporary problems. First, he said that “Japan has joined the US in a military alliance that deters China’s efforts in unifying with Taiwan.” And second, the two countries are competitors for oil […]

Oil production up in Russia

RBC, 17.11.2004, Moscow 10:20:14.Production of oil, including gas condensate, amounted to 381m tons in January to October 2004, which was a 9.4-percent advance in comparison to the corresponding period in 2003, the Federal State Statistics Service reported. Crude oil processing gained 1.9 percent to 161m tons. Production of gasoline increased 3.1 percent to 24.9m tons; […]

The Coming Currency Shock

November 16, 2004 Declining Superpower Act By PAUL CRAIG ROBERTS China’s currency peg to the US dollar prevents correction of the US trade imbalace and imperils the US dollar’s role as reserve currency… …The reserve currency conveys unique advantages on the favored country. As the reserve currency, the US dollar is guaranteed a high level […]

MMS reports new incentives in Gulf of Mexico will spur oil and gas production

… royalty relief to tap into pockets of natural gas deep under shallow waters … older, easier-to-reach fields have passed their peak … Oil production in the Gulf will increase to a record 2 million barrels per day by 2006, compared to the current rate of 1.5 million barrels per day, and could reach 2.25 […]

Will US$ devaluation help energy transition?

But if the USA even cut its oil imports by 20% or 1.3 million barrels/day, then this threat diminishes, and will only come back in autumn 2005. A 20% cut in US oil imports would free up about two year’s oil import growth of the Chinese economy … equivalent to only 4 months growth of […]

WSJ: Global surge in use of coal – backhanded admission of oil peak

Front page article “Global Surge in Use of Coal Alters Energy Equation” describes global trends of coal use as a response to tight supplies. Unattractive but probable oil descent scenario for developing world is now also being seriously considered in the US. Buried in the text are indirect references to oil peak: “We lived in […]

Technology and economists save the world from expensive oil

MSNBC.com The Case for Cheaper Oil $100 a barrel by the end of the decade? Don’t bet on it, argues one analyst, who lays out a cogent argument for sharply lower prices By Steve Rosenbush Business Week Updated: 11:00 p.m. ET Nov. 15, 2004 As a general rule, average folks don’t sit around talking about […]

Wholesale Prices Jump on Energy Costs

WASHINGTON (AP) – Propelled by sharply higher energy and food costs, wholesale prices soared by 1.7 percent in October, the largest increase since early 1990.

AP

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