Coal Shortage in China to Hit 330 Million Tons by 2010

Experts estimate that China will consume 2.2 billion tons of coal by 2010, causing a shortage of 330 million tons, Wang Xianzheng, vice director of the State Administration of Work Safety, said Tuesday at an annual exposition. “The present size and scale of China’s coal industry are far from being able to meet the country’s […]

A little bit of good news (CO2 injections into previously depleted reservoirs?)

This is an area that is not often talked about, but in many of the plots of peak oil, there is the curve that goes up and then switchbacks down which is main crude oil production. Sitting like a rather large boil on the shoulder of the downside of that fold is an uptick that is called enhanced oil recovery (EOR) or tertiary recovery.

One of the more promising techniques for EOR is injecting carbon dioxide into a layer of rock that still has oil, but where it cannot easily be obtained normally. There are two benefits to using CO2. One of these is to strip some of the gas out of the atmosphere. The University of Texas recently showed that they could inject liquid CO2 into a depleted oil reservoir, and because the reservoir was a fluid trap, it would hold the gas and keep it from getting back into the atmosphere.

More after the jump at The Oil Drum

US Official Calls for Greater Russia-US Energy Cooperation

A top U.S. official has called for increased energy cooperation with Russia, while also raising concern about the country’s investment climate. Energy Secretary said Tuesday in Moscow that Russian oil exports to the United States should be 10 times higher than their current rate of 230,000 barrels per day.

ExxonMobil and Peak Oil

Without any press conferences, grand announcements, or hyperbolic advertising campaigns, the Exxon Mobil Corporation, one of the world’s largest publicly owned petroleum companies, has quietly joined the ranks of those who are predicting an impending plateau in non-OPEC oil production. Their report, The Outlook for Energy: A 2030 View, forecasts a peak in just five […]

Fuel costs to dent Easyjet profit

Easyjet shares have fallen 5% after the no-frills airline reported widening half-year losses and said higher fuel costs would hit annual profits. Rising fuel costs contributed to a 14% rise in losses to

Northwest Airlines set to cut 2,000 more jobs

Northwest Airlines wants to lay off about 2,000 more mechanics and cleaners on top of the some 4,400 it has already let go – or scheduled for layoff in the next few months.  The approximately 2,450 mechanics and cleaners who would remain on Northwest’s payroll would absorb wage and benefit cuts and work rule changes […]

Apocalypse Arriving on a Very Tight Schedule

The debate is getting as heated as the planet, but it has moved on. Outside the United States, where the climate-change denial industry still trots out its few tame scientists to question the reality of global warming, it is now about the best way to cut carbon emissions fast without bringing the whole structure of […]

China’s coal riches could ease oil insecurity

Turning China’s abundant coal reserves into oil to help close a widening supply gap might once have seemed little more than a Maoist dream, but synthetic fuels may soon be a key part of the country’s energy mix. Optimists say China could be making as much as 1.2 million barrels per day (bpd) of liquid […]

OECD Cuts Global Growth Estimates for 2005, 2006 on Oil, Europe

The Organization for Economic Cooperation and Development cut its estimate for global growth this year and next, citing rising energy costs and a deepening slowdown in Europe. The Paris-based OECD expects expansion in its 30 member nations of 2.6 percent this year, down from its previous semi- annual forecast in November of 2.9 percent, and […]

Russian output falls in April as oil boom slows

Russia, the world

European economic sanctions against Iran could send oil prices higher

EU officials are weighing the possibility of sanctions as they try to contain Iran’s nuclear ambitions – but any harsh move against Tehran could leave the world paying the price in more expensive oil. Whether sanctions would force the country to agree to joint U.S.-European demands is uncertain, but – with Iran OPEC’s second-largest producer […]

CAUCASUS PIPELINE LEAVES RUSSIA IN THE COLD AND TURKEY TO BENEFIT

After 12 years of setbacks and disagreements the taps are ready to turn on a 2.6 billion-dollar giant pipeline which will pump oil from the Caspian Sea to Turkey and on to the world’s energy markets – a process which stands to sap Moscow of some of its influence over the energy resource-rich Caucasus region. […]

Shanxi to face worst power supply shortage

North China’s Shanxi province, the country’s leading coal producer, will suffer a power supply shortage of 3 million kilowatts this summer, the worst in history, said the Shanxi Electric Power Company Tuesday.     The electricity generated by local power stations can only meet 70 percent of the demand, General Manager of Shanxi Electric Power Company Li […]

India headed for a diesel, petrol, natural gas price escalation and shortage

Government of India finally acknowledged problems in the energy sector, announced plans for sharp rise in prices and gave a grim outlook for Indian energy sector. The Government controlled petroleum companies were bleeding like hell for the last one year while supplying subsidized oil and gas to Indian citizens.

Latin Oil Romance

They’re falling for it. Venezuela, Ecuador, and Bolivia – South America’s three hydrocarbon gusher states – are placing high hopes for prosperity on petroleum wealth. That’s risky enough in itself without them also moving toward more state control of oil and gas. In Bolivia, street protesters are even demanding outright nationalization of the industry. Last […]

China turns its back on Japan

The dramatic last-minute cancellation of a meeting between Japanese Prime Minister Junichiro Koizumi and visiting Chinese Vice Prime Minister Wu Yi has plunged relations between Beijing and Tokyo to a perilous new low. The incident indicates that recent efforts to improve battered bilateral ties have collapsed, and highlights the complete deadlock over Koizumi’s contentious annual […]

The great oil rush of 2005

Cairn Energy is moving one step closer to unlocking the riches it discovered under a plot of Indian desert bought at a knock-down price from the hapless Shell. If only the rest of the oil sector could put in such a slick performance. The Scottish minnow turned FTSE 100 oil giant is likely to receive […]

Iran crude output beyond OPEC quota

Iranhttp://www.tehrantimes.com/Description.asp?Da=5/24/2005&Cat=9&Num=10

OPEC states may link oil exploration to refineries

OPEC nations, holders of about three-fourths of the worldhttp://www.tehrantimes.com/Description.asp?Da=5/23/2005&Cat=9&Num=11

Chinese oil production rises five percent on year

Chinese oil production in the first quarter rose five percent from a year ago to 3.67 million barrels per day, or 180,000 barrels more than for the same period of last year. “Such a growth rate is rare in recent years,” Shan Weiguo, research director at the country’s largest oil producer, China National Petroleum Corp. […]

When Neo-cons and Theo-cons Meet At Armageddon

Will future historians portray George W. Bush as the heroic leader of a new world empire and reborn Christian nation? Or, will they treat him as one of America’s worst presidents ever ?It all depends on who wins and who loses.As Winston Churchill cautioned, history is written by the victors, and the current battles have […]

Laser aims to imitate sun’s center, hydrogen bomb

In a building the size of a football stadium, engineers have assembled the framework for a network of 192 laser beams, each traveling 1,000 feet (305 meters) to converge simultaneously on a target the size of a pencil eraser.

The trip will take one-thousandth of a second during which the light’s energy is amplified many billions of times to create a brief laser pulse 1,000 times the electric generating power of the United States.

http://www.cnn.com/2005/TECH/05/23/super.laser.ap/index.html

Paranoia Runs Deep

From Jim Kunstler’s site, May 23: “Paranoia runs deep; into your life it will creep. . . .” So went the lyrics to the old Buffalo Springfield song from the tumultuous Vietnam War years and now, as Yogi Berra also said around the same time, “it’s like deja vu all over again.” I like to […]

Australia’s ‘Big Dry’ Challenges Farm Survival

Already the world’s driest inhabited continent, Australia is getting drier as rare back-to-back droughts raise the dire prospect of a near permanently parched landscape. For months, eastern city slickers have basked in the warmest, friendliest autumn weather on record. Day after day, Sydney temperatures have risen to 25 deg Celsius, with clear blue skies throwing […]

Audit Criticizes Iraq’s Handling of Oil Sales After Power Transfer

The audit, conducted by accounting firm KPMG, covered the period from the June 28, 2004, transfer of sovereignty to the new interim government until Dec. 31. While the audit makes no accusations of fraud or wrongdoing, it notes that Iraqi ministries and U.S. agencies awarded numerous noncompetitive contracts with development money. At one point, U.S. […]

Climate-Change Fears Prompt CIS Rebellion at Exxon

A major British institutional investor will tomorrow oppose the re-election of Lee Raymond as chief executive of ExxonMobil on “ethical grounds” at its annual meeting. The challenge will be launched by the Co-operative Insurance Society (CIS) which says the world’s biggest stock-listed oil company talks down links between man-made CO2 emissions and climate change. Exxon, […]

Saudi Oil Min: World Not Running Out of Oil; Panic Unnecessary

“We will continue to be the world’s most reliable supplier of energy,” he said, according to prepared remarks distributed ahead of his speech in San Francisco. “As evidence of this commitment, we are implementing a massive investment program that encompasses both upstream and downstream sectors.” Oil markets aren’t exactly in a panic, but they have […]

And So It Begins…Peak Oil at a Coffee Shop Near You…

From the Oil Drum

And so it begins…

Yawn, a new day, and what with doing homework and all, we need some coffee and a sandwich to get our day started. And so we go back to our local sandwich shop, but there is a line at the door. And the proprietor is standing there, so you ask him if he is going to have enough coffee and sandwiches for everyone.

Renewable Energy Projects Expected to Spend $13 Billion

Forecasts produced in OilOnline

Saudi Vows to Meet Global Oil Demand

Top world oil exporter Saudi Arabia vowed on Monday to pump enough crude oil to keep world markets supplied, the state news agency SPA said. A statement issued after a weekly cabinet meeting said Saudi Arabia would “increase its production by the amount required by supply and demand factors in global oil markets in a […]

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