TRANSHEFT’S HEAD: DECISION TO BE TAKEN ON PIPELINE TO CHINESE BORDER

The head of Transneft, Semyon Vainshtok, is sure that a decision on the construction of a branch of the East Siberia – Pacific oil pipeline to Chinese border will be taken. “The decision has not been taken yet, but I am 90% sure it will be,” Vainshtok told a press conference held in London within […]

Oil booms, but investors flee Russia

The price of Russia’s main export, oil, is hovering at record highs. The government is currently pocketing nearly $20 on every barrel produced. So why are foreign investors running for the exits, and the country’s economy suddenly slowing?

Sydney Morning Herald Cartoon

SMH Cartoonist Moir characterises Australian PM John Howard in reaction to rising oil prices.

Pipeline Watch Now Logging Attacks in Riyad

April 4 – attack on pipeline running through the Riyad area near Bayji.
IAGS

US government ‘must restrict CO2′

Twelve US states, three cities and several prominent environmental groups told a court on Friday that the United States government had a legal duty to restrict greenhouse gas emissions. They said the Clean Air Act mandated the government’s Environmental Protection Agency (EPA) to regulate all emissions which damaged human welfare.

The Energy Revolution Intensifies

This latest rise in energy prices will have at least three distinct impacts. First, the stock market will see new leadership from the oil and energy sector. Oil and energy indexes and ETFs will gain in popularity with institutional and retail investors alike. Second, rising oil prices are going to have knock-on effects in the […]

French say oil industry should sell in euros, not dollars

PARIS (AFX) – French Industry Minister Patrick Devedjian said the international markets should price crude oil in euros, not dollars as at present, as it is a more stable currency. ‘One could insist on an international scale, in order to have better (price) stability, that the euro become the currency for oil transactions,’ Devedjian said […]

The Value of the Remaining Wilderness – Dale Allen Pfeiffer

Congress is about to open ANWR to oil drilling. Conservative pro-drilling groups have established propaganda sites on the web (ANWR.com, ANWR.org, etc.) touting drilling as humane and responsible, and claiming that the resources of ANWR will feed our energy demands-state by state-for many years to come. Their figures are unrealistic; they must be considering every […]

India, China agree to cooperate on energy security

India and China agreed on Monday to cooperate in their quest for energy security for their booming economies, a joint statement issued during Chinese Premier Wen Jiabao’s visit to India said. The energy-hungry Asian giants, whose thirst for energy has stretched global supplies and contributed to the record rise in oil prices, are aggressively competing […]

Germany’s Pfaffenbach Says Oil Prices Are Past `Pain Threshold’

German Deputy Economy Minister Bernd Pfaffenbach said oil prices have already risen beyond the “pain threshold” for the German economy and the issue will be discussed at a meeting of the world’s finance ministers later this week. The price of crude oil, which reached a record $58.28 a barrel a week ago, is “quite clearly […]

Ghost of past oil crises haunts world economy

Oil crisis? What oil crisis? Prices are sky high, China is fast becoming as big a consumer as the United States, conflict in the Middle East threatens deliveries and some experts say there’s not much oil left in the ground. Yet, the International Monetary Fund says the world economy is a more efficient machine these […]

Average Gas Price at Record $2.29/gal

The average U.S. retail gasoline price rose 19 cents over the past three weeks to a fresh record high just below $2.29 a gallon, an industry analyst said on Sunday. But the price that U.S. motorists pay for gasoline at the pump may be peaking, Lundberg survey editor Trilby Lundberg said, because gas prices have […]

The Search for Alternative Energy

Lately the energy sector has dominated the headlines. Rising oil, gas and electricity prices have taken a toll on the consumer

Oil prices slip, a little

Crude oil prices have been dropping in recent days in reaction to reports of higher inventories in the United States, the world’s largest consumer, but they have still not dipped below the $50-a-barrel mark that was crossed in February. Moreover, long-term prospects point to sustained high prices due to growing demand from China. In New […]

The energy ties that bind India, China

Myanmar newspapers have reported that India will soon start a feasibility study on building a deepsea port in Dawei, in Myanmar’s southern Tanintharyi division. Subsequently, the Myanmar Ministry of Transport made clear that the Dawei deepsea-port project stands as one of the priorities among future programs of BIMST-EC, the Bangladesh, India, Myanmar, Sri Lanka and […]

Crude oil prices slip below $53 a barrel

Crude futures fell below $53 a barrel Monday, marking the sixth straight day of declines as OPEC pondered a production increase next month. Analysts said crude inventory growth revealed last week by the U.S. Energy Department and speculative trading also weighed on prices. But they suggested that increased summer demand – and potential refining bottlenecks […]

India’s indigestible oil gulp

India must halt its frenzied acquisition of petroleum and gas from every part of the world and give priority to energy conservation and renewable sources, while strengthening the state oil sector

The aftermath of `liberation’

An abysmal security situation, mounting civilian casualties and pillage of its energy resources are the most glaring features of U.S.-occupied Iraq two years after the illegal invasion. TWO years after the invasion of Iraq, there is new evidence that reaffirms the real motives of the war and uncovers the “fundamentals” that guide the George W. […]

Peak Oil UK: Entering the Age of Oil Depletion

A one-day conference on the approaching peak and decline in global oil supplies will take place at the Royal Museum of Scotland in Edinburgh on Monday, 25 April, 9:30 AM – 5:00 PM. Increasingly, analysts are forecasting that global oil production could reach its all-time peak before the end of this decade Amid mounting concern […]

Reintroducing PeakSpeak!

Peakoil.com announces the relaunch of our PeakSpeak Voice Application!

With our recent server upgrade, the voice conferencing program we offer has become a more effective & robust environment for depletion related discussions.

PeakSpeak allows you to interact with others around the world in real-time conversation. To find out how to join, visit PeakSpeak

And it’s free!

Higher Oil Prices Can’t Do the Work of the Fed: Caroline Baum

Energy is a hot topic, as anyone who’s been even semi-conscious for the past year knows. Too bad it’s so widely misunderstood. Take, for instance, the “expert” (on what, it’s not clear) on TV yesterday morning who said “you either get tightening from the Fed or (from) oil markets.” If oil should fall $10 from […]

We’re running out of oil, says Costello

Treasurer Peter Costello has delivered a blunt warning that Australia is running out of oil as existing fields near the end of their productive lives. In a speech to the Northern Territory Cattlemen’s Association, Mr Costello said it was little known that Australian exports of fuel had been falling for years despite soaring prices. “The […]

This week in CF Nation – Jim Kunstler

Over in Vermont last week, I ran into a gang of biodiesel enthusiasts. Biodiesel is oil extracted from vegetable crops that can be used to run engines and do other things as a replacement for petroleum. They were earnest, forward-looking guys who would like to do some good for their country. But their expectactions struck […]

Peak Oil ‘To Do’ List: Why We Should Do These Things Anyway

Resource Insights – by Kurt Cobb There are economists who “know” that the world will come up with a cheap, effective, and widely available substitute for oil before we run short of it. And so, it follows that “getting ready” for a permanent oil shortage through concerted civic and governmental action is a “waste of […]

For national security, cut use of foreign oil

Unlikely allies are coalescing around the critical need to wean this country from the clutches of foreign oil. Joining environmental groups: defense hawks alarmed about the possibility of an oil crisis, evangelical Christians heeding Biblical admonitions to be good stewards of the Earth, and farmers and ranchers who can produce alternative fuels. The traction they’re […]

Awaiting the oil drought

We know what Aspen is like in drought years. The snowpack thins. The skiing sucks. The economy suffers. We pull our purse strings tight and hope for a better season next year. The Canary Initiative hopes to address the long-term viability of skiing in the Central Rockies by weighing the impacts of global warming. The […]

Oil, Geopolitics, and the Coming War with Iran

By Michael Klare

… But just as the failure to discover illicit weapons in Iraq undermined the administration’s use of WMD as the paramount reason for its invasion, so its claim that an attack on Iran would be justified because of its alleged nuclear potential should invite widespread skepticism. More important, any serious assessment of Iran’s strategic importance to the United States should focus on its role in the global energy equation.

TomDispatch.com

The Price of Oil and the Bush Dollar

There’s been a lot of hand-wringing going on among economists and politicians, and a lot of fuming at the gas pump by consumers over the soaring price of oil over the last two years. Increasingly, concern is being expressed by treasury officials and economists about the negative impact soaring oil prices and related gas prices […]

Oil price bubble may be set to burst – analysts

A 3 per cent drop in crude oil prices yesterday could be the first sign that energy’s bubble is losing air in recognition of swelling US inventories, analysts say. While some analysts insist that high oil prices are here to stay, many believe energy futures reached the point the stock market did in early 2000 […]

Oil chiefs drill home new world order

“We will be paying $25 billion more for oil if current prices remain and that has huge implications for the economy and the lifestyle of individual Australians.”

The Australian

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