The New Energy Crisis: A Survival Guide

According to the federal government’s Energy Information Administration (EIA), the price you pay for natural gas (the most common heating fuel in America) is likely to jump 7.5 percent over last winter. The price of home heating oil, commonly used in the Northeast, will rise 17 percent this winter. And don’t think you’re off the […]

So the White House Wants Cheap Oil?

So the White House wants oil at $25 a barrel. Yeah, and I want to be 10 pounds lighter, a foot taller and blonde.CNN Money

China 2005 oil demand to rise 8.8 pct to 6.94 mln barrels/day – report

China’s oil demand will rise 8.8 pct this year to 6.94 mln barrels per day on strong economic growth and insufficient coal supply, the China Securities Journal reported, citing a research report by Lehman Brothers.

No oil bourse in sight: Iranian official

The chairman of Stock Market Organization

OPEC Exports Up 230,000 B/D in 4 Weeks to May 28 – Analyst

Oil shipments from the Organization of Petroleum Exporting Countries up to May 28 are set to rise by 230,000 barrels a day, a leading shipping analyst said Thursday. The additional barrels will bring the four-week rolling average to 24.52 million b/d, Oil Movements said in a weekly report. But despite the latest increase, exports from […]

India chasing Caspian region energy

IRNA-Kazakhstan has offered India’s ONGC Videsh a choice of one energy block for exploration. Kazakhstan has offered two exploration blocks in the lucrative Caspian region out of which India will select one, reports ‘Times of India, today. The offer received its final shape at a meeting India’s Premier Manmohan Singh had with Kazakhstan President Nursultan […]

SAUDI OIL FACILITIES ARE VULNERABLE

Saudi Arabia must build additional capacity in an effort to reduce the vulnerability of its oil facilities from Iranian attack. A study conducted by energy researchers at Rice University, warned that oil facilities in eastern Saudi Arabia could be destroyed by Iranian medium- and intermediate-range missiles. The most vulnerable facility was said to be the […]

Kuwait, other Gulf oil producers may face drill rig shortage

 Oil-exporting Gulf states may soon find themselves facing a shortage of oil drilling rigs. According to Precision Drilling, Canada’s largest oil patch drilling company, will not have enough rigs to match demand this year as the world’s voracious appetite for energy continues to grow. OPEC’s president said Monday from Kuwait that the cartel would keep […]

Prepare for big changes

FLUCTUATING fuel prices and an ever increasing demand for oil indicates a quickly dwindling supply in the fossil fuel, and one that may dry up sooner than many think, according to Glen Innes businessman John Irvine.But governments, oil companies and the media are refusing to recognise the issue, something that Mr Irvine says must change […]

$4 a gallon

America is over. America is like Wile E. Coyote after he’s run out a few paces past the edge of the cliff

Gas prices reportedly peaking

The worst of the pain at the pump may be over. Gasoline prices are expected to average $2.17 a gallon for regular in May and June after hitting a record, not adjusted for inflation, of $2.24 in April, the Energy Department said yesterday. The average price for a gallon of regular gasoline in Tucson yesterday […]

Oil Prices Dip Below $50 on Supply Data

Crude oil prices slipped below $50 a barrel Thursday as positive supply reports from the U.S.Department of Energy and the International Energy Agency weighed on energy markets. Analysts said there was potential for prices to slide to $46 as supply worries dissipate. Yahoo!

IEA raises oil demand growth forecast

The International Energy Agency forecast on Wednesday the world oil demand this year will grow by 2.2 percent instead of the 2.1 percent in predicted last month.     ”The oil market is still rebalancing from last year’s demand surge,” the IEA said in its monthly report.     It said that demand pressures in China and the United […]

Global warming spells out water shortage

A third of the world’s population lives in countries that find it difficult or impossible to meet water needs, a proportion that could double by 2025, said RajendraK. Pachauri, chairman of the UN Intergovernmental Panel on Climate Change (IPCC), Wednesday.     In developing countries, about 14,000 to 30,000 people die each day in developing countries from […]

Nuclear power may be the only way, says chief scientist

Britain may need one more generation of nuclear power stations in the fight against climate change, Sir David King, the Government’s chief scientific adviser, says. Sir David, who has sounded the alarm about global warming more loudly than anyone else in recent years, believes that new nuclear plants may be needed to keep Britain’s faltering […]

Bioenergy key to fight against hunger

Agriculture and forestry could become leading sources of bioenergy, a key element in achieving two of the UN Millennium Development Goals: eradicating extreme poverty and hunger and ensuring environmental sustainability, according to FAO. In a paper presented to the nineteenth session of its Committee on Agriculture meeting here (13-16 April), FAO recalls that around two […]

Gas pipeline project has scope for success: India

Indian Petroleum and Natural Gas Minister Mani Shankar Aiyar on Tuesday assured the Upper House that neither he nor the government would be influenced by any big power while taking a decision on the Iranian gas pipeline via Pakistan.

Petroleum Review – Editorial – April 2005

The real problem is the trade deficit, which surged from $530.7bn in 2003 to $665.9bn in 2004 and appears set to increase further in 2005. For the moment the deficit is covered by inflows of $2bn/d from countries wishing to hold dollar assets. However, nearly 80% of recent inflows are from just three sources

S.Korea, Uzbekistan agree on joint oil exploration

South Korea and the Central Asian Republic of Uzbekistan on Tuesday agreed to increase bilateral cooperation in oil exploration and trade and to work together closely to resolve the North Korean nuclear weapons crisis peacefully. The agreement was reached during a summit between South Korean President Roh Moo-hyun and his Uzbek counterpart Islam Karimov at […]

Energy Prophets: U.S. Oil Dependence

In a 1995 ORNL report, “The Outlook for U.S. Oil Dependence,” Don Jones, Paul Leiby, and I simulated the impact of a two-year supply shock similar to those that occurred in 1973-74 and 1979-80, but starting in 2005 and ending in 2006. The model predicted that the shock would cause oil prices to jump from […]

Oil Doomsday is Nigh, Tar Sands Not a Substitute

Matthew R. Simmons says the world is blindly and blithely racing toward an energy crisis rooted in false assumptions about plentiful Saudi Arabian oil reserves. Simmons says that provided “disbelief is suspended”, the problem can be dealt with, but not before prices surge to crimp demand.Resource Investor

Book Claims Saudi Oil Fields Set with ”Dirty Bombs”

A book being published next week says Saudi Arabia has wired its oil fields with radioactive explosives to discourage invaders from trying to take control of the kingdom’s reserves, but Saudi Arabia denied it had any explosives at all attached to its oil facilities.Reuters

China 2005 Oil Demand to Rise 8.8 Pct to 6.94 Mln Barrels/Day

China’s oil demand will rise 8.8 pct this year to 6.94 mln barrels per day on strong economic growth and insufficient coal supply, the China Securities Journal reported, citing a research report by Lehman Brothers. The research report added demand for gasoline is expected to increase 4.7 pct this year and diesel demand 7.3 pct […]

White House Wants Oil Price at $25 a Barrel

The White House wants to see oil prices fall by about half to around $25 a barrel although reaching that goal may take time, President George W. Bush’s top economic adviser said on Wednesday. “We would like to see the price get back to around $25 a barrel, somewhere around there,” Allan Hubbard, director of […]

Europe Stages Nuclear Crisis Test

Nuclear experts are simulating a major accident at a power plant in Romania to test the global response to a disaster. More than 60 countries are taking part in the 36-hour test, organised by the UN atomic energy agency and centred on the Cernavoda nuclear power station.BBC

Iran Letter Sparks Nuclear Fears

The U.N.’s nuclear watchdog expects Iran to deliver a letter as early as Thursday announcing it will break U.N. seals and resume activities Washington fears could be used to produce fuel for atom bombs, a Western diplomat said. “The IAEA expects to get a letter from Iran, probably on Thursday, officially announcing the resumption of […]

Chavez Says Worldwide Energy Crisis is Imminent

The world is about to face an energy crisis because the demand for oil keeps growing even though production is already at its maximum, Venezuelan President Hugo Chavez said Wednesday. “There’s a worldwide energy crisis around the corner,” Chavez told reporters at the end of the Summit of South American-Arab Countries in Brazil. “Especially because […]

Oil Economist Says Depletion Could Cause Winter Shortfall

Upbeat projections of rising global oil output are underplaying oil field depletion rates, masking what could amount to a worrying 2.3% supply shortfall this winter, a leading oil economist said Wednesday. Leading the shortfall is a rapid rate of decline in output from oil fields outside the Organization of Petroleum Exporting Countries, said Chris Skrebowski, […]

China Fears ”Apocalyptic Summer” of Floods, Drought

A senior Chinese meteorologist has warned the country may face an “apocalyptic summer” of floods and drought, threatening corn, cotton and rice crops, state media said on TuesdayReuters

Oil Producers’ Action Could Push Up Prices

Iran on Wednesday became the latest Gulf oil producer to increase its crude oil export prices sharply, in a collective move that could curtail the recent easing in global oil prices. The fall in prices to $50 a barrel from a nominal record of $58.23 a month ago coincided with a build-up in global stockpiles […]

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