The party that never ends

JAKARTA – The Organization of Petroleum Countries has sent a letter to Indonesia’s government asking it to reconsider possible plans to downgrade its membership in the grouping, government officials told Dow Jones Newswires Friday. (…) The country’s oil production has steadily declined in recent years due to plunging levels of investment in the sector linked to investor concerns about the security of contracts and perceived unpredictability of Indonesia’s judiciary.

Schlumberger

Pandemic Could Create Serious and Sustained Food Shortages, Expert Warns

An influenza pandemic would dramatically disrupt the processing and distribution of food supplies across the world, emptying grocery store shelves and creating crippling shortages for months, an expert warned Thursday. Dr. Michael Osterholm suggested policy makers must start intensive planning to figure out how to ensure food supplies for their populations during a time when […]

Report on 4th Annual ASPO Conference

An 11-page report by John La Grou on the ASPO conference that was held May 19-20, 2005 in Lisbon.

Summary Report on ASPO4

Peak Oil Mind: Juggling Two Realities

I nowadays feel as if I’m a passenger on the Titanic who knows about the fatal iceberg dead ahead, but who is too polite to bring up the dreadful subject at dinner. The usual questions arise each time a new venue for disseminating the word about peak oil presents itself: Who will believe it? Will […]

Oil, Pushing $60, May Rise Further on Fuel Demand

Crude oil prices, which rose to $60 a barrel in New York this week for the first time, are more likely to rise than fall next week on speculation increasing fuel demand will sap U.S. inventories, a Bloomberg survey shows. Twenty-four of 50 analysts and strategists surveyed, or 48 percent, said oil prices will rise […]

Governor Urges Californians to Reduce Energy Use During Summer

Gov. Arnold Schwarzenegger on Thursday urged Californians to conserve energy this summer while promoting his plan to create a state energy agency. He said he doesn’t want a repeat of the power crisis of 2000-2001, which followed the state’s foray into deregulated energy markets and led to rolling blackouts and soaring utility bills. “There is […]

Battle For Unocal All About Proven Reserves

Oil industry pioneer Unocal Corp. was thrust this week into one of the hottest takeover battles in years, when China National Offshore Oil Company Ltd. decided to take on Chevron Corp. for ownership of the 115-year-old company’s assets. What’s at stake is Unocal’s vast portfolio of proven oil and gas reserves — most of them […]

Major U.S. Airlines Boost Fares

Major U.S. airlines kicked off the summer with a round of fare increases, citing the latest surge in fuel costs for the need to charge as much as 3% more per trip. If it sticks, the move means customers of the largest carriers could pay an additional $20 or more for domestic and international flights […]

Shell Outlines Plan to Increase Oil Production

The chief executive of Royal Dutch/Shell Group, Jeroen van der Veer, said Wednesday that he planned to spend more on research, focus on big technology-driven projects, and possibly make acquisitions to increase oil and gas production 30 percent by 2015. Van der Veer, who took the helm 15 months ago after Shell was forced to […]

Exponential Enrons Ahead

Poster’s Comments: This struck a chord with me. If PO is correct, the last thing you need is to deregulate energy supplies into cowboy hands.

Notice how it talks about lower employee standards and training. Classic de-skilling.

Exponential Enrons Ahead

Hopes for home power generation

Many homes could generate all their own power by wind or solar energy and sell the surplus, the government has said. Energy minister Malcolm Wicks launched a consultation paper on how to boost “micro-generation” by homes, businesses and public buildings. The government is seeking ways to solve high costs. A solar panel system could take […]

Beyond Oil: Taking Action Against the US Oil Addiction

Although there is a great deal of talk about the US addiction to oil, especially when gas prices go up, there is a vacuum of action, especially in light of the serious present and potential consequences for the world due to this overdependence. Increasingly, business and scientific resources, but not the US administration or corporate […]

The Peak Oil Crisis, Part 8: Has It Started?

Earlier this week oil prices surged to an all time high thus raising the question: Falls Church News-Press

U.S. Stocks Drop as Oil Reaches $60; Transportation Shares Fall

U.S. stocks dropped after oil prices climbed to a record $60 a barrel, renewing concern that higher energy costs will hurt corporate profits. Transportation companies including FedEx Corp. led the decline. FedEx, the No. 2 U.S. package-shipping company, said earnings will trail analysts’ estimates in the next fiscal year. “Fuel costs are a problem,” said […]

Iraq: The Carve-Up Begins

The Iraq war has so far cost America and Britain The London Line

Oil price hits $60 a barrel level

Crude oil prices have hit a record level of $60 a barrel on the US market amid strong demand. Light sweet crude for August delivery rose $1.91 to reach the $60 mark before slipping back slightly to $59.80

A few more things we should all be doing…

Ianqui posts:

Rajiv pointed us to a Salon blog by Dave Pollard. In his post reviewing James Fallows’ Atlantic Monthly article called “Countdown to a Meltdown”, Pollard gives a list of steps we should all be following. I thought it might be a fun exercise to go through and annotate his list; you can also play along at home! (Lots of consumption/sustainable lifestyle links to investigate if you’re interested.)

More after the jump at The Oil Drum.

Oilcast #12: ‘No Peak Oil’, no strike and NOPEC

In this Oilcast Dani Gomez looks at predictions by the Cambridge Energy Research Associates. They reject ‘peak oil’ theory, but as Dani has found out, their forecasts have been wrong in the past. Who is right? Are ‘peak oilers’ mistaken?

Plus, a look at current price volatility, CINOOC’s bid for Unocal (as we predicted) no strike in Norway (as we predicted) and NOPEC in the US Senate, can it really become law?

http://www.oilcast.com/

 

Pakistan likely to drop gas pipeline project under stern US pressure

Succumbing to intense US pressure, Pakistan is likely to opt-out of the multi-billion dollar Pakistan-Iran-India (PII) overland gas pipeline project and instead opt in for the Pakistan-Qatar (PQ) gas pipeline project, sources told KUNA Thursday.The official sources also saw little chances on the progress of Turkmenistan-Afghanistan- Pakistan (TAP) gas pipeline project, because of perilous law […]

India’s oil reserves to be reassessed

The directorate-general of hydrocarbons is planning to reassess India’s hydrocarbon potential. India has prognostic oil and gas reserves of about 30 billion tons but related studies were conducted about a decade ago.Director General of Hydrocarbons VK Sibal said only 25 percent of these reserves had been discovered.

Russia’s oil reserves to last 35-40 years

 Given current oil extraction volumes, Russia’s oil reserves will last for at least 35-40 years, a ministry press release quoted an official as saying Wednesday. Deputy Minister of Natural Resources Anatoly Tyomkin said undeveloped deposits had exceeded 100 billion metric tons of standard fuel. According to Tyomkin, Russian oil companies will be able to use […]

ENERGY-HUNGRY CHINA COURTS MIDDLE EAST

This week’s Middle East tour by Chinese foreign minister, Li Zhaoxing, is a rare visit by a top Beijing official to the region, signals China’s growing diplomatic ambitions and its quest to secure oil supplies for its energy-hungry, rapidly expanding economy.

Fire Tankers are Lifeline in Drought-Hit Portugal

A fire tanker became a lifeline for a Portuguese village on Wednesday as taps threaten to run dry in the Iberian Peninsula’s worst drought since the 1940s. In an increasing familiar scene as reservoirs turn into dust bowls, firefighters delivered tankerloads of water to Pereiras, in the scorched Alentejo region.

European Industry Squeezed by Surging Power Prices

Record power prices in Europe are squeezing industry and analysts say there is more pain on the way as utilities pass through soaring costs of complying with new limits on greenhouse gas emissions. Anglo-Dutch group Corus said on Wednesday it may shut a German aluminium plant because of high power costs, echoing threats by other […]

Standby Britain: How it fuels our energy crisis

Appliances on standby pump one million tons of carbon into the atmosphere. Wasted energy of appliances on standby could power 400,000 homes. Up to 85 per cent of power used by a video recorder is consumed on standby. Government says Britain would save 240,000 tons of C02 emissions by switching off televisions

China Port Issues Power Warning as Mercury Soars

The key north Chinese port of Tianjin faces blackouts as soaring temperatures strain its power system and is planning to bring in flexible working shifts to ward off a crunch, the official Xinhua agency said on Wednesday. Temperatures had hit 39 degrees Celsius (102 degrees Fahrenheit) and if they remain high for three to four […]

U.S. Energy Legislation May Be `Renaissance’ for Nuclear Power

The U.S. Senate this week is expected to vote on energy legislation that includes incentives for companies such as Exelon Corp., Entergy Corp. and General Electric Co. to undertake the first nuclear-plant construction in the U.S. since 1978. The debate in Congress reflects renewed interest in nuclear energy, unpopular after high-profile accidents at Pennsylvania’s Three […]

Hopes for home power generation. (UK)

Many homes could generate all their own power by wind or solar energy and sell the surplus, the government has said. Energy Minister Malcolm Wicks launched a consultation paper on how to boost “micro-generation” by homes, businesses and public buildings

Shell paves the way for future as natural gas giant

SHELL will transform itself into a global gas major over the next ten years, producing more natural gas than crude oil, as the company steps up investment in ten multibillion-dollar projects, known as

Future reform now at stake

A victory in Iran’s presidential run-off by hardliner Mahmood Ahmadinejad would remove a moderating influence from within the regime and could put the Islamic republic on a collision course with the West, diplomats and analysts said Wednesday. Seen as most at stake is Iran’s relatively pragmatic approach in diplomacy over its nuclear programme, which Iran […]

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