BP to Maintain Investment in Mature North Sea Oil Fields

BP will be in the North Sea “until it is finished” and expects to maintain the scale of its business there for years, according to the head of exploration and production at the oil and gas giant. Rigzone …Finished?BP will be in the North Sea “until it is finished” and expects to maintain the scale […]

Market Failure: Global Warming and Peak Oil

Markets have never quantified and accounted for the greenhouse gas costs of burning fossil fuels. The costs of production and demand by users have always been the market variables setting the price of coal and oil. This historic inability to take into account the effects of greenhouse gas emissions is a stake in the heart […]

India has over 23% growth in car sales in 2004, China over 13%

With almost 24% growth in car sales in 2004, India has emerged as the fastest-growing car market in the world, outstripping China’s estimated 13.7% growth last year. But India’s potential looks even more promising, so much so that investment banking firm Goldman Sachs has predicted that it will have the largest number of cars by […]

Hot Season May Bring Southland Blackouts

Parts of Southern California could endure blackouts this summer if the region suffers from unusually hot weather, state energy officials said Tuesday in a newly revised forecast. Power supplies in areas served by Southern California Edison Co. and San Diego Gas & Electric Co. could come up short by 1.5%, or 2,000 megawatts, during periods […]

India and Russia in energy talks

India and Russia are to work together in a series of energy deals, part of a pact which could see India invest up to $20bn in oil and gas projects. On the agenda are oil and gas extraction as well as transportation deals, to be led by Russian energy giant Gazprom and India’s ONGC. The […]

Bird flu pandemic ‘imminent’

The world is perilously close to a deadly pandemic stemming from bird flu and governments need to take quick action to control its spread, a top international health official has warned. “We at Who believe that the world is now in the gravest possible danger of a pandemic,” said Dr Shigeru Omi, the World Health […]

The Day After Tomorrow. What was, what is and what will be

The following short story is hypothetical in nature, but is based on what was, what is, and what will be. www.financialsense.com

Nigerian troops raid militia in oil delta

Nigerian troops fought in a gunbattle for several hours against a group suspected of killing civilians and stealing crude oil in a remote Niger Delta community, officials said on Tuesday. The raid on Odiama was launched on Saturday in response to the killing of 12 people, including four local councillors, in a boat ambush earlier […]

Iran, India sign two agreements

Iran and India signed two agreements on Tuesday to expand bilateral cooperation in commercial and economic fields through support for their private sectors. Kamal Kharrazi met with his Indian counterpart, Natwar Singh, on Tuesday after which the two countries concluded agreements on oil and gas cooperation and protection of joint ventures and cultural heritage. They […]

Gazprom and India’s ONGC agree to cooperate

(ONGC) have signed a memorandum of understanding. The document was signed by Gazprom CEO Alexei Miller, India’s oil minister Mani Shankar Aiyar and ONGC chairman Subir Raha, at their meeting in Moscow on Monday, Gazprom said. Gazprom and ONGC will consider opportunities for cooperation in oil and gas projects in India, Russia and some other […]

Singapore Hit By Worst Dry Spell in 29 Years

Singapore is suffering its worst dry spell in 29 years, sparking rare bush fires in the densely populated Southeast Asian island and cranking the country’s ubiquitous air conditioners into overdrive. Singapore, just 140 km (85 miles) north of the equator, usually sees relatively dry weather in February as Southeast Asia’s northeast monsoon season shifts south. […]

Russia torn

As US President George W Bush comes up with strong statements on Iran and Syria, Russia has moved to boost its ties with both Middle Eastern nations. On Monday, Bush urged Iran to halt its nuclear program and told Syria to pull its troops out of Lebanon. Yet despite US concerns, and in an apparent […]

Cold makes prices surge

Oil prices carried on rising on Wednesday after cold weather on both sides of the North Atlantic pushed US crude prices to four-month highs.
Freezing temperatures and heavy snowfalls took crude oil prices past $50 a barrel on Tuesday for the first time since November.

Declines in the dollar have also contributed to the rising oil price.

US crude was trading at $51.39 at 0710 GMT in Asian electronic trade on Wednesday.

A barrel of US crude oil closed up $2.80 to $51.15 in New York on Tuesday.

Opec members said on Tuesday that, given such high prices, the cartel saw no reason to cut its output.

BBC News

Imperial Entropy

Empires always depend on excessive resource exploitation, usually derived from colonies farther and farther away from the center, and eventually fall when the resources are exhausted or become too expensive for all but the elite. This is exactly the path we are on-peak oil extraction, for example, is widely predicted to come in the next […]

A letter from oil exploration insider

It is not a question of “if” peak oil has occurred – it has! The better question might be “when are the crows coming home to roost?” When will we begin to actually experience the shortages and the rising prices? I think we might make a decade, if everybody plays nice across the world. But when has that ever happened when something got scarce?

Energy Bulletin

China and the Final War for Resources

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 order for China to become a dominant global power over the United States, the PLA emphasizes “The Final War over Resources”, must be won. The Colonels state […]

Diesel Exhaust Blamed for Deaths

WASHINGTON – Emissions from old diesel engines cause more than 20,000 Americans a year to die sooner than they would have otherwise, an environmental group estimated Tuesday. Study: Diesel Exhaust Blamed for Deaths By DEVLIN BARRETT, Associated Press Writer WASHINGTON – Emissions from old diesel engines cause more than 20,000 Americans a year to die […]

Dow drops triple digits as crude surges to 3-mo. high

U.S. stocks took a beating Tuesday with blue chips suffering their biggest losses in five months amid sharp declines in Home Depot and Merck and a spike in crude-oil prices to a three-month high. The Dow Jones Industrials Average (^DJI – News) stumbled 149 points, or 1.3 percent, to 10,636 as all 30 of its […]

This alternative fuel car is full of hot air.

Sorry, but I couldn’t resist that headline. This French-made car is fueled by hot compressed air.http://www.latimes.com/news/local/la-me-wheelfeb22feb22,1,3068744.story?coll=la-headlines-california&ctrack=1&cset=true

Dollar falls amid fears central banks diversifying

The US dollar was sharply lower on Tuesday after South Korea re-ignited fears that central banks plan to diversify their foreign exchange reserves away from the greenback to include more currencies. The Bank of Korea said on Monday that “as foreign exchange reserves increase”, the Bank would “diversify the currencies in which it invests”, as […]

Economist says Wyoming energy boom will last till alternatives are found

Experts say energy boom could last Associated Press CASPER, Wyo. – Strong prices for coal, oil and natural gas – and even the prospect for renewed uranium production – have experts wondering if, for once, boom times for Wyoming’s mining and drilling industries might last awhile. A similar boom peaked in the early 1980s and […]

Fed’s Rate Boosts Backfire by Stimulating Economy

Federal Reserve Chairman Alan Greenspan calls it a “conundrum.” Former Fed colleague Laurence H. Meyer calls it “extraordinarily unprecedented.” The Fed has raised its target interest rate six times since June 30, intending to prevent the U.S. economy from overheating later this year. Instead, the increases are having the opposite effect: They’re spurring the economy, […]

Rain check: L.A. soggier than Seattle

Expert says U.S. in deep energy crisis

Hal Harvey, a nationally recognized authority on energy policy, will speak at Arizona State University on Wednesday with some sobering views: The United States is in a deep energy crisis, “and we aren’t doing anything about it.”

AZ Central

Oil Awareness Meetup Groups

Meet other local people who are dedicated to raising awareness about the peak in oil production and the inevitable decline that will follow. Discuss the consequences of this decline and the actions that can be taken.

Meetup.com

Venezuelan oil supply at risk

Venezuelan President Hugo Chavez says he is looking to sell off eight oil refineries that his country owns in the United States, raising questions about the long-term plans of the major U.S. oil supplier. Mr. Chavez’s announcement, made this month in Buenos Aires, comes during worsening bilateral relations and indications that Venezuela is exploring ways […]

New diseases arise as environments destroyed, says UN

Changes to the environment that are sweeping the planet are bringing about a rise in infectious diseases, the United Nations Environment Programme (Unep) has warned. Loss of forests; the building of roads and dams; urban growth; the clearing of natural habitats for agriculture; mining; and pollution of coastal waters are promoting conditions under which new […]

Iran pushes for ‘peace’ pipeline

Tehran said yesterday New Delhi had taken an encouraging and positive stance with its decision to consider joining a proposed gas pipeline project running from Iran to India, through Pakistan. Energy-hungry India said last week it would consider a pipeline through Pakistan as ties between the nuclear foes improve due to a cautious peace process, […]

Total Chief Urges Greater Access to OPEC Reserves

The chief executive of French energy giant Total believes Western oil companies must have better access to oil and gas reserves in OPEC countries and Russia to continue increasing their output, according to an interview with The Times newspaper published yesterday. Thierry Desmarest said Total was able to replace its production only by exploration – […]

Calls for China partnership

The rise of China as an economic power should be seen as an opportunity not a threat, Gordon Brown has said in a keynote speech in Beijing. Partnership between China and the industrialised nations is vital, the UK chancellor said on his first visit to the world’s most populous nation. He also pushed for a […]

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