Gloomy outlook for US natural gas production

… February 2005 Vol. 226 No. 2 North American Gas Taking the High Road North American supply and demand are remarkably volatile, yet remain in a constant range despite record drilling. Meanwhile, traders keep gaming and playing the game with gas prices. Leonard Parent , Contributing Editor, World Oil Prices are up, drilling is up, […]

World Oil editor claims oil shale, tar sands, and bitumen will save us

… February 2005 Vol. 226 No. 2 PERRY A. FISCHER, EDITOR Polemic propaganda. (Or, the 2% solution.) The world does not need more pundits, politicians, journalists and editors acting as spinmasters to convince people of things that are not entirely true: that’s the purview of marketers and salesmen. What we need is a more critical, […]

Venezuela’s president tells world to ‘forget about cheap oil’

Venezuelan President Hugo Chavez, whose country is the world’s fifth-largest oil exporter, said that the world should get used to high oil prices.
“The world should forget about cheap oil … it won’t happen,” Chavez told a news conference in the Indian capital on Saturday, saying that the new price range for oil would remain between 40 dollars and 50 dollars.

New Kerala

Chavez: OPEC Could Set Oil At $40-$50

Venezuelan President Hugo Chavez said Saturday that the Organization of Petroleum Exporting Countries could fix a price for oil in the range of $40 to $50 per barrel, adding that low petroleum prices were a thing of the past. San Jose Mercury NewsVenezuelan President Hugo Chavez said Saturday that the Organization of Petroleum Exporting Countries […]

Consumers outraged over gas prices

POSTED: 6:02 pm EST March 4, 2005 UPDATED: 6:43 pm EST March 4, 2005 BOSTON — The price of crude oil on the world market is now a cruel reality at your local gas station. Janet Wu Reports On Gas Prices NewsCenter 5’s Janet Wu reported Friday that in some cases, prices have jumped a […]

Nokia halts mobile fuel cell plan

Mobile giant Nokia has dropped plans to develop mobile phones with fuel cells for at least the next few years. The firm committed to fuel cells eight months ago but has now said the sector is “not yet mature”. Note: A remarkable comment considering the fuel cell was invented in 1838! Nokia’s Matti Naskali said […]

ChevronTexaco cuts US natural gas reserves for third straight year

Natural gas reserves slashed ChevronTexaco makes cuts for the third consecutive year By John M. Biers, Associated Press Inside Bay Area Citing disappointing drilling results in two locales, ChevronTexaco Corp. slashed its U.S. natural gas reserves by 13 percent in 2004, the third year in a row in which it suffered a substantial reserves hit […]

US DOE has received the warning

In February ASPO received interesting information from Dr. Robert L. Hirsch to be published in our newsletter. Dr Hirsch and his colleagues have just completed a study for the U.S. DOE on the mitigation of world oil peaking, Hirsch, R.L., Bezdek, R.H, Wendling, R.M. Peaking of World Oil Production: Impacts, Mitigation and Risk Management. The […]

Spending boost to continue in 2005

Here is an interesting survey of the E&P expenditures for the next year. At the bottom of the article there was what I thought was a fairly significant comment: “For the first time ever, 100% of the respondents are optimistic about the next three-year outlook. Over the past 10 years, there have been periods when […]

Gas Getting Pricier, Oil Demand Rises

“I have already heard from gasoline retailers that new shipments are costing them a dime more (per gallon),” said Peter Beutel, president of Cameron Hanover Inc. of New Canaan, Conn., a provider of petroleum market analysis. “By next week prices will be 10-15 cents higher at the pump in many places.” “I believe oil prices […]

Lawmaker Asks Bush to Seek OPEC Oil Price Cut

WASHINGTON (Reuters) – A U.S. lawmaker on Friday asked the White House to explain why the Energy Department had not pushed OPEC to help lower crude oil and gasoline prices when the cartel meets later this month. U.S. Energy Secretary Sam Bodman said at a Senate committee hearing on Thursday that the Bush administration had […]

ASPO Newsletter 51, March 2005

The US Department of Energy reports the origin of the country’s 4.4 Gb of annual imports. The two largest suppliers are its neighbours which have lost a degree of sovereignty under NAFTA, and are more or less forced to deliver. In fourth place is Venezuela, which now seeks new customers (see Item 500). Most of […]

Arctic oil being looked at as very few unexplored basins are left

Cooperation, technology called keys to arctic work Tapping the undeveloped oil and gas potential of the Arctic requires cooperation between nations and new technology, speakers told a US-Norway oil and gas summit in Houston on Mar. 2. “It is our hope that the huge successes we have experienced in the North Sea and the Norwegian […]

China to boost military spending

China has announced an increase of more than 12% in its defence budget, to be approved by a session of its parliament that opens on Saturday. The rise comes as parliament is set to debate a so called “anti-secession law”, aimed at curbing any bid by Taiwan for formal independenceChina views Taiwan as its territory, […]

Former coal jobs ‘not replaced’

Some 90,000 jobs lost since the closure of most of the UK’s coal pits after the 1984/1985 miners’ strike have not been replaced, a report has said. The Sheffield Hallam University study said employment in former mining areas lagged badly behind other regions.Researchers also found higher levels of ill-health in coalfield areas. They said five […]

Big Gas Price Surge Soon?

Gasoline prices could rise by about quarter a gallon in the coming days to new record levels, according to a published report Friday. CNN.comGasoline prices could rise by about quarter a gallon in the coming days to new record levels, according to a published report Friday. USA Today, quoting energy experts and analysts, reported that […]

Muscle cars are back — in force

It was the 1960s, and every manufacturer — and that meant General Motors, Ford and Chrysler — offered a wide range of two-door coupes with powerful V8 engines. Names like GTO, Charger and Mustang GT meant power to burn rubber into the next county. … What’s surprising about this current muscle-car renaissance is that it’s […]

Iran Threatens Retaliation On Gulf Arab Oil If Attacked By U.S.

Iran has warned that Gulf Arab oil would be endangered by any U.S. attack on the Islamic republic. In the first such threat, a leading Iranian official raised the prospect of Iranian retaliation against Middle East oil exports. The official said such Gulf oil states as Kuwait and Saudi Arabia could be threatened, Middle East […]

From seat of the pants to skin of the teeth

Bert Hill The Ottawa Citizen March 4, 2005 Over 10 years Environmental Management Solutions built a strong business cleaning up the industrial messes of Canada’s past from LeBreton Flats to the oil fields of Alberta. Today, the former Ottawa company is caught in the middle of a toxic mess of its own making. Current and […]

India to tap oil fields in Venezuela

India is keen on taking stake in oil and gas fields in Venezuela and is exploring the possibility of importing crude oil from the Latin American country, Petroleum Minister Mani Shankar Aiyar said on Friday. While Venezuela withdrew its earlier offer of six exploration blocks, Aiyar and visiting Venezuelan President Hugo Chavez on Friday discussed […]

Germany finances wind-energy power station in Egypt

Egypt and Germany have signed a contract to jointly finance the construction of a wind-energy power station in the Zaafarana area on the Red Sea. The German Reconstruction Bank has offered finance to the amount of 75 million Euros to the project, said Egyptian Minister of Electricity Dr Hassan Younis.According to him, the project is […]

Canadian Gas May Rise as Cold Stokes Furnace Use in U.S. East

Canadian natural-gas prices may rise for a second day as cold weather continues to grip the U.S. Northeast and Midwest, the two biggest consuming regions for Canada’s gas exports. Temperatures in the Northeast will be as much as 8 degrees Fahrenheit (5 Celsius) below normal through March 6 and remain colder than normal through March […]

Chavez renews oil threat to US

Venezuelan President Hugo Chavez renewed a threat on Friday to halt oil supplies to the United States if Washington “hurts” the Latin American country. Earlier this month, Chavez told a news conference in Uruguay that the United States would not receive a drop of oil if he were killed. Asked whether the Organisation of Petroleum […]

One for oil and oil for one

What is really at stake is something quite different, almost entirely unmentioned in the Western media. It is rather more prosaic than a ‘people power’ revolution. It is primarily a battle over oil transit routes from the second largest remaining oil deposits in the world, and, more long term, a US attempt to pre-empt Chinese […]

322.org.uk is currently showing ‘The End of Suburbia’

322.org.uk is currently showing End Of Suburbia Peak Oil documentary movie in East Sussex, UK.

Details at

332.org.uk

Is America going broke?

Record deficits, colossal debt and no clear plan for digging itself out. If the U.S. sinks, it will take Canada down with it. Macleans

Nuclear delusion

The nuclear industry has grasped at climate change like a drowning man clutching a passing log. Its latest piece of flailing around involved persuading some journalists that the prime minister is just waiting for the general election to be over to put out a white paper setting out the case for 10 new nuclear reactors. […]

Energy industry seems ripe for merger wave

Another wave of mergers may be building in the energy industry as persistent high oil prices, stockpiles of cash and a shortage of inexpensive places to drill are driving companies to eye their competitors. Two factors brought energy mergers to the forefront on Thursday: a report that ChevronTexaco may be testing the waters with Unocal […]

Why the Petrol Tax is Good Thing

Friday, 4 March 2005, 11:19 am Press Release: Powerless New Zealand 3 March 2005, Wellington Our Government still believe that oil will return to US$20 to 25 dollars a barrel according the Ministry of Economic Development’s website. This blind faith in the face of Adnan Shihab-Eldin, OPEC secretary-general’s claim yesterday “I can’t rule out the […]

Record gasoline prices expected this summer

By Harold Brubaker Crude oil traded at more than $55 a barrel today on the New York Mercantile Exchange, near its October record and 54 percent higher than a year ago. Guess what it means that the biggest component in the price of gasoline is $20 more expensive this year than last? “This is going […]

« Previous Page — Next Page »

LATEST NEWS HEADLINES

• Why the IEA is Wrong About Peak Oil Demand
• Did we inadvertently speed global warming?  
• Venezuela’s Oil Monopoly Eases
• Why Germany is Choosing Natural Gas Over Nuclear Power
• U.S. coal-fired electricity generation decreased in 2022 and 2023

• America Cracks Down on Methane Emissions from Oil and Gas Facilities
• Meet America’s Newest Oil Trader Extraordinaire: Joe Biden
• Is It Time To Refill America’s Strategic Petroleum Reserve?
• Oil prices set to end year 10% lower as demand concerns snap winning streak
• What’s Driving America’s New Oil and Gas Boom?
• China’s peak oil demand bombshell eviscerates Danielle Smith’s energy strategy