Gas prices ignite nuclear option for oil sands

Nuclear power is generating more interest in the oil sands as natural gas prices soar and the pace of project development accelerates, says a senior official at Atomic Energy of Canada Ltd. The nuclear option for the oil sands Globe and Mail

Venezuelan Says Oil Will Flow

First, there were the conflicting reports of mass layoffs, sabotage and a drop in Venezuela’s oil production. Then the military was ordered in, and the accusations flew. As conditions worsened Tuesday, Venezuelan Oil Minister Rafael Ramirez was in Houston, calmly trying to reassure the international oil industry his country is open for business. With its […]

Global Energy: How Much Remains?

A popular Saudi Arabian proverb runs: Pacific Ecologist via Scoop

9 Ways to Play the Nuclear Power Surge

Last week, when President Bush urged the nation to take action to deal with rising energy costs, his comments confirmed what many experts have been saying all along: It’s time to go nuclear. And thanks to record gas prices and looming fossil-fuel shortages — not to mention an expected big spike in the demand for […]

Venezuelan Army Takes Control of Oil Facilities to Prevent Sabotage

The Venezuelan armed forces have occupied some oil producing facilities in the country to prevent sabotage by workers frustrated by their new labor contract, Bladimiro Blanco, the vice-president of oil union Fedepetrol told BNamericas, confirming local press reports. A new collective labor contract was signed in January between PDVSA and its workers. “Fedepetrol disagrees with […]

‘Do Nothing’ US Energy Policy Will No Longer Work, Analyst Says

The US has been living on an oil surplus, which has now disappeared, and a “do nothing” energy policy will no longer work, said a prominent energy analyst. Robert Ebel, chairman of the Energy and National Security Center for Strategic and International Studies, said a 4-year congressional debate on energy policy remains unresolved but could […]

CERI: Oil Prices Have Established New, Higher Plateau

Oil prices have established a new and higher plateau, driven by increasing world demand, several analysts told a Canadian Energy Research Institute (CERI) conference May 2 in Calgary.Oil & Gas Journal

Venezuala’s Chavez Says Oil Output Falling

Oil production in the western part of the country has unexpectedly fallen by 100,000 barrels per day, and officials are investigating whether that drop could be a result of sabotage, President Hugo Chavez said Tuesday. Forbes

IEA Chief Warns Companies Will Fail to Meet Demand

Investment in new capacity by oil-producing nations and energy companies is too small to meet future growth in demand, the developed world’s energy watchdog warned on Tuesday. Claude Mandil, head of the International Energy Agency, said even though energy prices were near record levels, the world was not investing enough in oil and gas production, […]

Peak Oil Looms, While U.S. Remains Gluttonous

If you are a Monty Python fan, you will remember the famous restaurant scene from The Meaning of Life. In it a fawning waiter begs his grossly over-weight client, who has just finished a meal of obscene proportions, to have Berkeley Daily Planet

U.S. Energy Chief Wants ‘Clean Coal’ Push

U.S. Energy Secretary Sam Bodman called for more international efforts to develop coal as an alternative energy source as ministers met Tuesday to address concerns over the future of the world’s energy supplies. Bodman, attending his first major international meeting since he took office in February, also sought to deflect criticism that the United States […]

IEA Energy Ministers Grapple with Oil Supply Scare

Energy efficiency and investment are high on the agenda for ministers from leading energy consuming nations at talks Tuesday on securing future oil supplies to prevent energy costs hurting economic growth.CNN Money

IEA to Discuss Energy Efficiency, Closer OPEC Ties

The IEA will discuss energy efficiency and closer cooperation with OPEC, among other topics, at a series of closed sessions over the next two days, a person familiar with the agency’s policies said Monday. The International Energy Agency, which represents the energy security interests of Organization of Economic Cooperation and Development countries, is hosting its […]

In bed with the killers

It all seems a very long way away. But what is happening in an obscure island nation in the south Pacific has now become our business. A few weeks ago BP, the British company that has invested most in “corporate social responsibility”, received final approval to start developing a gas field in West Papua, the […]

Oil shortages ‘will cause global chaos’

“The report was compiled mainly by ex-CIA people. The CIA has always kept a close watch on resources. They found that peak oil would provide the US and the world with an ‘unprecedented risk and management problem’

The Mercury

Congressman Bartlett on Peak Oil Tonight

After having last week

US invasion of Iraq was a resource war

“It’s too late to maintain a ‘business as usual’ attitude. What is required is to manage the change that peak oil will bring in a way that causes the fewest casualties. This must be done at an economic and geopolitical level, to fend off resource wars. The US invasion of Iraq is clearly a resource war,” Heinberg said on Monday.

IOL.co.za

Oil Companies Confront ”Age Gap”

Oil and gas prices continue to steam along. Energy company profits are soaring, and offshore companies are pushing the limits of deepwater technology. But the ebullient mood at the Offshore Technology Conference was tempered by worries about a “lost generation.” After experiencing repeated rounds of wrenching layoffs, the oil and gas industry has found itself […]

The Economist on oil

In a nutshell, this is the well-informed, but nevertheless deliberately rosy official view of corporate America.

Daily Kros

Why Gas Won’t Get Cheaper

Most of us know the price of gasoline to the penny, and it’s starting to really pinch. President Bush made the rising price of oil a focus of his prime-time news conference last week. But as Bush has acknowledged, lowering the price of oil isn’t that easy. “You can’t wave a magic wand,” he said. […]

Simmons reveals energy surprise of 2005

Matt Simmons, Simmons & Co. International CEO, revealed to lunch attendees at the Offshore Technology Conference on May 2 the big energy surprise of 2005 Oil & Gas Journal

Gas Use at Issue in Iran as Oil Production Sags

The export opponents note that current production is 25 bcfd, including three phases of giant South Pars gas field. When South Pars is fully producing, they say, there is barely enough gas to supply domestic needs. Iran is losing 350,000 b/d/year of oil production capacity, Fesharaki said, and the decline rate could increase to 500,000 […]

OPEC Pumping Additional 2M bpd

Oil-exporting cartel OPEC has increased production by 2 million barrels per day (bpd) since mid-March, leaving global markets well supplied heading into the second half of the year, the group’s president said Monday. The Organization of the Petroleum Exporting Countries is pumping at 25-year highs, with the extra supplies pushing world oil prices below $50 […]

UPI Intelligence Watch

Was there more behind Saudi Arabia’s Crown Prince Abdullah’s recent visit to the United States than discussing oil prices with President George W. Bush? The word on the Saudi street is that the real reason for Abdullah’s visit was to brief Bush that bed-ridden King Fahd’s condition has worsened, with the monarch slipping in and […]

Experts Keep Close Eye on Energy Prices

Energy bills are straining Kamal Ziadat’s budget. As he shells out more for gas, he tries to cut back elsewhere. He doesn’t think he’ll take a vacation this year or buy a better car as he once hoped. “You want to buy something but you think you need money for a necessity,” says Ziadat, a […]

Oil Prices May Not Have Farther to Fall – IEA Chief

The sharp drop in oil prices is welcome but may not last, the head of the International Energy Agency said Monday. “I don’t know whether it will continue or not,” Claude Mandil, executive director of the IEA, said after a meeting of member states’ energy ministers. ” I’m not sure we can draw too many […]

Deep Seas Hold Key to Oil’s Future

Anyone looking for a glimpse into the future of the offshore oil industry needs to travel about 200 miles from the Texas shoreline. But the tricky part will be to descend to the bone-crushing depth of two miles beneath the ocean’s surface. That’s where the next frontier lies for big oil companies, which are drawn […]

State Oil Giants Empowered, Majors Weakened

State-owned oil giants in producing nations are cementing control over much of the world’s reserves, intensifying fears too little investment will be made in new energy supplies. Barriers to foreign investment in the world’s biggest oil producers are expected to be among issues broached at a two-day ministerial conference of the International Energy Agency starting […]

Trapped – Stephen Roach

With all due respect to the

This week in CF Nation – Jim Kunstler

In his press conference last week, President Bush was fixated on the year 2041 as the point that social security will come off the rails financially if not reformed soon. He emphasized the year 2041 several times. I wonder if the president has done the math on world oil supplies. A year ago (2004) just […]

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