3-D Seismic Technology Locates Natural Gas in Fractured Reservoirs

DOE-Sponsored Project Taps New Supplies of “Tight” Gas Rio Arriba County, N.M. — Large volumes of natural gas are being tapped from the tight rocks of the San Juan Basin in New Mexico’s Rio Arriba County using a new technology developed in a project sponsored by the U.S. Department of Energy (DOE).In this cost-shared project, […]

India-Iran gas pipeline deal on the rocks

Indian officials claim Iran going back on $40 billion deal

By Iftikhar Gilani

NEW DELHI: While India has invited Pakistan to talks for a gas pipeline from Iran via Pakistan, its $40 billion deal to import 7.5 million tonnes of liquefied natural gas (LNG) a year from Iran has run into trouble.

Daily Times

Financial Imbalances and the Politically Unbalanced

On January 31 the China Reform Monitor stated: “China has lost faith in the U.S. dollar and is looking to broaden the exchange rate to more flexible and stable currencies….” On Feb. 7 a Pravda headline proclaimed, “Russia to oust U.S. dollar from Nation’s financial policy.” Last month the United Nations Department of Economic and […]

Chomsky: Budget attacks America’s majority – By Adam Porter

If you were poor, a Native American, a small farmer or an ecologist, you probably did not vote for George W Bush. It is therefore not so surprising to find that all these sectors of society have come under attack, from the Republican administration’s new fiscal budget. … “There is a very simple principle that […]

Synthetic chemistry: Making a natural fuel cell

The synthetic assembly of the active centre of hydrogen-producing enzymes adds to our understanding of their structure and function — and could produce new and useful materials that mimic these enzymes.A host of microbes metabolize hydrogen with high efficiency by using enzymes known as hydrogenases1. These enzymes are exquisite miniature hydrogen fuel cells, and are […]

Talk of oil decline moving into mainstream

Some people who attended the conference are acting on their fears.

Jifunza Right-Carter, a Chicago physician, has purchased 40 acres of land outside of the city to use alternate energy sources such as solar and wind power and to hold classes for people interested in ways to reduce reliance on oil.

“It’s not something that we just have to throw up our hands and say we’re doomed,” Right-Carter said.

Hutto said he intends to try to establish a community of between 100 and 200 people devoted to using alternate forms of energy and growing their own food.

“My life is going to be very different than I planned it,” he said. “It really is a historic conference. I think we’re going to look back at this little event in Yellow Springs, Ohio, as a starting point.”

CT

David Suzuki Comes Out Swinging

Suzuki’s starkest message involved the concept of peak oil, the point in time where all of the easily accessible fossil fuels will have been discovered, after which oil supplies will rapidly deplete. The post-peak oil world will see suburbs, commuting, large houses and long distance food transport becoming impossibly expensive. “Some experts believed that we had hit peak oil in 2004. Others said, ‘No, you’re crazy, we’ll hit it in 2006 or 2007.’ It’s undeniable, it’s here. The good news is that there are alternatives. The bad is that we still stick to our ruts and our old ways,” said Suzuki. He claimed that Canada could be a fully sustainable country by 2030 provided it followed proper goals immediately. He cited European countries as examples for Canada to follow.

EVWorld

When oil peaks …

But with oil breaking the US$50-a-barrel barrier in October, and amid other concerns, the peak oil crowd is grabbing more attention. One of their most startling claims is the following: six barrels of oil are now used for every new barrel discovered. Major oil finds – that is, more than 500 million barrels – peaked in 1964. In 2000, there were 13 such discoveries; in 2001, six; in 2002, two; and in 2003, zero – the first time that had ever happened.

AT

Peak Oil and The Sociology of Knowledge

This system is necessarily dependant upon limitless infinite growth to survive. Rational thought ought to inform all of us that this scenario is an impossibility theorem. Growth is not possible without energy and there is nothing on the market that can currently replace oil and natural gas. Without oil and natural gas our financial system is doomed. Several respected independent scientific sources predict Peak Oil, the time at which the demand for oil exceeds the available supply, to occur between 2005 and 2007. Richard Heinberg argues the answer to this dilemma is the one no one wants to hear. So we sit, and wait, and assume, and deny.

scoop

civil rights lawyer convicted of aiding terrorists

http://news.yahoo.com/news?tmpl=story&u=/ap/20050210/ap_on_re_us/terror_trial

A veteran civil rights lawyer was convicted Thursday of crossing the line by smuggling messages of violence from one of her jailed clients — a radical Egyptian sheik — to his terrorist disciples on the outside.

The jury had deliberated 13 days over the past month before convicting Lynne Stewart, 65, a firebrand, left-wing activist known for representing radicals and revolutionaries in her 30 years on the New York legal scene.

Stewart faces up to 20 years in prison on charges that include conspiracy, giving material support to terrorists and defrauding the U.S. government.

Alaska Coal-to-Liquid-Fuel Efforts Aided By Prez

i-Newswire, 2005-02-09 – FAIRBANKS, Alaska — President Bush’s call in his State of the Union address for affordable and “environmentally resposible” energy for America has been hailed as a shot in the arm to efforts to develop liquid fuel from Alaska coal.

The President’s remarks came after an old shuttered gold mill near Fairbanks has begun to stir again.

Workers have dusted off the crushing equipment, swept out the engineering and administrative offices and brushed a fresh coat of brown paint on the interior tanks, and yellow and green paint on the railings.

The cleanup at the cobwebbed Grant Gold Mill on the gentle slopes of Ester Dome in central Alaska, 10 miles northwest of here, is part of the effort to convert the mill into a demonstration plant producing liquid fuel from low-grade Alaska coal that could provide a significant answer to the world’s oil crisis.

i-Newswire

IEA Warns of Supply Strains

Feb 10, 2005 — LONDON (Reuters) – Oil prices jumped more than a dollar on Thursday after the International Energy Agency warned that faster-than-expected demand and disappointing world production growth could put world supplies under strain.

ABC News

Rate of growth of Russian oil exports is slowing

Russian oil output boom slowing fast Russian production fell for the fourth straight month, according to the International Energy Agency. February 10, 2005: 7:14 AM EST LONDON (Reuters) – Russian oil output, which has grown 50 percent in six years, fell for the fourth straight month in January, another sign of a sharp slowdown in […]

DoE-EIA figures underline one thing: the US is running out of oil, fast…

Forgetting the possible, undiscovered, reserve growth and undiscovered reserves before unknown technology progress (a quite new and mystical category of imaginary oil, added to pump up the numbers), the US has about 30 billion barrels of proven oil reserves and consumes 7.6 billion-per-year. The world, too, isn’t so well off either. VheadlineVHeadline.com oil industry commentarist […]

Curves, Peaks, and Dips

‘Hubbert’s Curve’ is NOT part of the female anatomy… But it is, nevertheless, a thing of beauty to long-term crude oil investors. Here’s how you profit – including three specific guidelines for crude oil speculators…

Howestreet

How to guzzle gas with a clear conscience

Keen to do your bit for global warming but can’t bear to part with your four-wheel-drive? Now you can be both a greenie and a gas guzzler by investing in projects slowing climate change. People keen to compensate for the environmental impact of their cars and air travel are tipped to become big buyers of […]

Dealing with runaway oil prices

Recent data from the Organization for Economic Cooperation and Development’s (OECD’s) International Energy Agency (IEA), the US Energy Information Administration (EIA), leading oil analysts concerning world production and inventory in key consumer countries, together with “traditional” claims by certain analysts that OPEC (Organization of the Petroleum Exporting Countries) is still able to “overproduce” is taken […]

Top Russian Arms Exporter Offers Weapons for Oil and Gas

Russia says it plans to sell weapons in exchange for oil and gas, a Russian news agency reported. … Thailand — where officials are in talks over supplying the country with aviation technology — is paying for Russian defense equipment with poultry and other products, for example. MosnewsRussia says it plans to sell weapons in […]

N. Korea Announces It Has Nuclear Weapons

SEOUL, South Korea – North Korea (news – web sites) on Thursday announced for the first time that it has nuclear weapons and rejected moves to restart disarmament talks any time soon, saying it needs the armaments as protection against an increasingly hostile United States. http://story.news.yahoo.com/news?tmpl=story2&u=/ap/20050210/ap_on_re_as/nkorea_nuclear The communist state’s pronouncement dramatically raised the stakes in […]

Yuko’s main owner sues Russian government for $28.3bn

February 10, 2005
By Dmitry Zhdannikov

Moscow – Yukos’s main owner, Menatep, said it served a damages claim of $28.3 billion (R177 billion) against the Russian government yesterday for expropriating its investment in the stricken oil major.

Yuko’s main owner sues Russian government for $28.3bn

Russia to oust US dollar from nation’s financial policy

The Central Bank of Russia has recently announced that the official ruble rate will be calculated on the base of the dollar and euro cost. A spokesman for the Central Bank said that the dollar-oriented approach to the Russian currency policy is outdated.

Slowly but surely, the US currency has been losing value after the crisis of 1998 – presumably because of high oil prices.

China and the Final War for Resources

China and the Final War for Resources “What’s coming will be more devastating to the U.S. economy than any nuclear strike…” – The Asia Times Unrestricted War Unrestricted War: China’s Master Plan to Destroy America is a treatise for world domination written in 1999 by People’s Liberation Army Colonels Qiao Liang and Wang Xiangsui. In […]

TransCanada plans $1.7 billion oil pipeline project to Illinois

TransCanada Corp., Canada’s largest pipeline operator, announced a $1.7 billion project to carry oil to Illinois, positioning the company to capitalize as heavy-crude output in Alberta rises and U.S. energy demand grows. The pipeline, called Keystone, would be about 3,000 kilometers (1,865 miles) long and would carry 400,000 barrels of oil a day, the Calgary-based […]

Crude Oil Gains as IEA Says Demand Rising Faster Than Expected

Feb. 10 (Bloomberg) — Crude oil rose for a third day after the International Energy Agency said demand is increasing faster than expected while growth in Russian supply is slowing.

Oil demand will grow 1.8 percent this year, or 1.52 million barrels a day, 80,000 barrels a day more than anticipated last month, the Paris-based IEA said. Oil prices surged 34 percent last year as oil consumption climbed at its fastest pace in almost three decades.

Bloomberg.com

Balloon of Techno-Fixes for Peak Oil May Be Leaky

Analysis shows that much of the technology on which energy alternatives is predicated is in fact mature technology and that future refinements may therefore be only marginal. Scientific progress continues on many fronts, but the quantum leaps come less and less frequently . . . http://www.energybulletin.net/4256.html

India to hold gas pipeline talks

India is to hold talks with six of its neighbours on securing natural gas supplies to meet rising energy needs.

Three pipeline projects will be discussed with Afghanistan, Bangladesh, Burma, Iran, Pakistan and Turkmenistan, the cabinet announced on Wednesday.

http://news.bbc.co.uk/2/hi/south_asia/4249989.stm

Canadian oil sand projects will strain North A merica natural gas supply

Devon president urges end to Arctic pipeline delay Tue Feb 8, 2005 06:03 PM ET By Jeffrey Jones CALGARY, Alberta, Feb 8 (Reuters) – A C$7 billion ($5.6 billion) pipeline from Canada’s Arctic needs to be fast-tracked with numerous Alberta oil sands projects, which use huge volumes of natural gas, starting up over the next […]

BP reserves falls short in 2004

US rules on oil reserves produce shortfall for BP
>By James Boxell
>Published: February 9 2005 02:00 | Last updated: February 9 2005 02:00
>>
The confusion over calculating oil and gas reserves was highlighted yesterday when BP said it had failed to replace the reserves it extracted last year.

The shortfall was caused by a rule change introduced by US regulators. Under UK rules BP more than replaced what it pulled from the ground.

The world’s second biggest energy group lifted its fourth-quarter dividend by 26 per cent.

Lord Browne, chief executive, described the dividend rise as a “significant one-time step change” and said it would be maintained even if oil prices fell back to $20 a barrel.

Under industry rules devised by the US Securities and Exchange Commission, BP replaced 89 per cent of the oil and gas it used last year. This was reduced to 78 per cent when stripping out partners such as TNK in Russia. Royal Dutch/ Shell replaced 30-40 per cent of its proved reserves last year under SEC rules, before divestments.

However, the SEC has been criticised because it insists companies use the year-end oil price when calculating reserves.

A growing proportion of reserves is held in “production-sharing deals” with governments, where companies are paid their share in barrels of oil.

A higher oil price means a lower number of barrels owned by the oil company, so the year-end crude price of $40 has led to most companies cutting reserves.

Companies such as ExxonMobil and BP believe it makes more sense to use their long-term price assumptions of $20 when calculating reserves, the figure they use when investing. Under UK rules, which allow for the use of the $20 price, BP replaced 110 per cent of the oil and gas extracted.

Lord Browne said reserves were a matter of interpretation. “It’s a bit like saying how would I like to read Shakespeare, in English or in French? Naturally, because I am English, I would prefer the [UK rules].”

Lord Browne said BP and its peers had commissioned Cambridge Energy Research Associates, the consultants, to make recommendations on how to end the confusion. The report is due on February 23.

BP made yearly profits of $16.2bn (£8.7bn) last year, 26 per cent higher than 2003. But 60 per cent of its recent profit rise was attributed to record crude prices. Its shares rose 3p to 547p.

If oil prices remain at $30 in the next two years, as Lord Browne expects, a further $23bn could be returned to BP investors through dividends and buybacks.

BP indicated yearly production growth above 5 per cent on average between 2004 and 2008.

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Dealing with runaway oil prices

Recent data from the Organization for Economic Cooperation and Development’s (OECD’s) International Energy Agency (IEA), the US Energy Information Administration (EIA), leading oil analysts concerning world production and inventory in key consumer countries, together with “traditional” claims by certain analysts that OPEC (Organization of the Petroleum Exporting Countries) is still able to “overproduce” is taken […]

Shell’s Overstatement Could Be Three Times Larger

According to this article Shell was trying to assist Nigeria in increasing their quotas by overstating their oil reserves. Countries with larger proven reserves can have larger production quotas. Shell Concealed Extent of Its Problems to Protect Nigeria Partnership International Herald Tribune Friday, March 19, 2004 The Royal Dutch/Shell Group has kept secret key details […]

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