Tough for OPEC to Boost Output When Extra Oil Unwanted

OPEC will have a tough time making good on its pledge to boost production to cool off prices when refiners are reluctant to boost already-ample inventories as long as prices stay high. Saudi Arabia, the world’s largest oil producer and the only member of the Organization of Petroleum Exporting Countries with any significant unused production […]

How To Talk To An Economist About Peak Oil

I for one would like to see better communication between economists, geologists, and petroleum engineers about the timing and consequences of the eventual decline in global annual production rates of crude petroleum. In part the failure to communicate better with each other stems from differences in the language, assumptions, and paradigms with which those of […]

People Around World Share Angst on Oil

Pricey oil this year has left Thais in the dark. It’s also drawn German drivers to Polish gas pumps, kept cars parked in the United States and fishing boats moored in New Zealand. Japanese government officials have been told to forgo neckties to help cut the use of air conditioners, while Chinese bars and karaoke […]

A Paradigm Shift in Energy Commodity Markets

History is No Longer the Predictor of Future Behaviour As the price of crude futures reach close to $60/bbl, the question to ask is can it go higher and if so what will be the impact? Industry analyst CERA has issued guidance that it expects oil prices to stay above $50 per barrel for at […]

Heat record in nordic zones.

The current heat wave in eastern Canada is raising temperatures in the nordic zones of Ontario and QuRead more (in french)

Thunder Horse Oil Output Seen Deferred 3-6 Months -Analyst

The damage at BP Plc’s (BP) giant Gulf of Mexico Thunder Horse platform in the wake of Hurricane Dennis will defer for at least 3-6 months 25,000-45,000 barrels a day of oil that was supposed to hit world oil markets late this year, according to Pickering Energy Partners, a Houston energy research firm. Thunder Horse, […]

Blowing winds and cracking rock (a discussion of the environmental safety of the

It appears that the Thunder Horse platform, suffered some damage due to Dennis. There is a photo here, but the Reuters story quotes BP as saying that the 20

Four Warnings Of The Apocalypse!

I’ve harped on about oil prices rather a lot lately but feel I have to again in the light of the Cambridge Energy Research Associates report that effectively says “now, now children, everything’s going to be all right and oil prices will cool and we can get back to our favourite lifestyle”. CERA guys are smart, especially Daniel Yergin, author of that famous book on oil history, The Prize. But have they got it wrong this time as a growing number of analysts switch camps and side with the Peak Oil brigade led by its colonel-in-chief, Colin Campbell? Energy

Aramco joins forces with China

Saudi Arabia

China’s oil deficit to exceed US$ 40 bln this year

Latest statistics from the Customs General Administration show China imported 63.42 mln tons of crude oil in the first half of 2005, a year-on-year increase of 3.9 percent. China spent US$ 15.169 bln on oil import, a year-on-year rise of 42.2 percent. The import of oil products decreased 21 percent to 15.7 mln tons, but […]

Novorossiisk Port to Invest $100M to Ship More Oil

Novorossiisk Trade Sea Port plans to spend $100 million so it can ship more oil and oil products and maintain its rank as the country’s largest crude oil port. The Black Sea port plans to expand its crude oil pier to increase loading to 65 million tons next year, Sergei Povolokin, a spokesman at Novorossiisk, […]

The Coming Collapse of Civilization

World peak oil production may be coming as soon as 2007. If you think gas prices are high now, wait until supplies get tight. And if you’re only worried about how you’re gonna get to work when it’s $10 a gallon, allow me to remind you how your neighborhood grocery store gets stocked. We are […]

Maryland Congressman, President Bush Discusses

District 6 Congressman Roscoe Bartlett (R – Maryland) met with President George W. Bush at the White House on June 29 for an extensive discussion about peak oil

New Peak Oil / Oil Crisis documentary DVD available in UK & Europe

Peak Oil: Imposed by Nature is a new documentary that will be available from Friday 15th July throughout the UK and Europe via the website www.PowerSwitch.org.uk. Produced by Amund Prestegard and recommended by Dr Colin Campbell, it is an excellent introduction to the causes and consequences of the terminal decline of global oil production as […]

Reduce emission of green house gas, India tells developed nations

India today asked the developed countries to take action for reducing their emission of green house gases with respect to the baseline of 1990 over a period of time, besides providing technical and financial assistance to developing countries to facilitate cleaner development in these countries. “So far the efforts of developed countries in this direction […]

Heat on China, India in climate debate

It was not only the spectre of terrorism that loomed over last week’s meeting of the Group of Eight major powers at Gleneagles, Scotland. The possible consequences for the global environment of Asia’s rapid economic growth and soaring demand for energy were a prominent feature of the G8 leaders’ statements after the meeting on Friday, […]

The Clusterfuck Nation Chronicle

The glamorous Maria Bartiromo was just on CNBC talking globalism (and China in particular) with two Wall Street cretins. China is a great play said Cretin No. 1 because they have 300 million potential middle class customers for America’s manufacturers. Excuse me, what do we still make that the Chinese either can’t make themselves or […]

New Matthew Simmons Presentation: Energy Tsunami Ahead.

Matthew R. Simmons presented “An Energy Tsunami Ahead” at the 2005 AAPL Annual Meeting in Banff, Canada on July 1, 2005.Simmons&CoInternational

Bear’s face looms in analyst’s crystal ball

In recent years, Dines has been avoiding most tech stocks like the plague while trumpeting investments in energy with an emphasis on uranium stocks. “When uranium was at the $8 US level (per pound in 2001), I became an arm’-waving, table-thumping optimist on the price of uranium,” quips Dines, who has been publishing his letter […]

Housing Markets Pricing Out Middle Class

The red-hot housing market in booming cities across the country has made the dream of owning a home out of reach, not only for low-income families but also for white-collar professionals. “Many of the overheated real estate markets throughout the country have become unaffordable for the majority of the population,” said Jack McCabe, a housing […]

India hopeful of acquiring US nuclear reactors

India hopes that Prime Minister Manmohan Singh

Record-setting gas prices will rise even more

Gasoline prices across Michigan are higher than ever and are probably going to get worse before drivers can expect any long-awaited relief. The statewide average for regular gasoline surged Monday to a record $2.377 a gallon, even though oil prices are on the decline and the 120 mph winds of Hurricane Dennis spared Gulf coast […]

Tropical Storm Emily develops in the Atlantic

Tropical Storm Emily, the fifth named storm of the Atlantic hurricane season, developed late on Monday but was still far out in the ocean and several days away from posing a threat to any inhabited areas. Emily, given tropical storm status once it developed winds of more than 39 mph (63 kph), followed hot on […]

India Must Fight Off China

India should aggressively step up its hunt for foreign petroleum assets and plan a bigger strategic reserve of crude oil to increase its energy security, a panel set up by the oil ministry said on Monday. The panel was formed last year to suggest ways to strengthen state firms in the wake of competition from […]

Bush Adviser Helped Law Firm Land CNOOC Lobbying Job – WP

President Bush’s top independent intelligence adviser met last winter with investment bankers in China to help secure his law firm’s role in lobbying for a state-run Chinese energy firm and its bid for the U.S. oil company Unocal Corp. (UCL), according to his law firm, Akin Gump, The Washington Post reports in its Tuesday edition.Dow […]

China: The Gathering Threat

While the Bush Administration focuses on the Middle East, many international experts believe the challenges posed by a rising China eclipse the threats posed by Al Qeada… All About Oil: The Great Game China and the United States are also under increasing competition to secure strategic oil reserves necessary to fuel economic growth. One reason […]

Another Shot Across the Bow?…EnCana in Colorado with Chinese Drillers?

First the Chinese want to buy a second-rate oil company like Unocal to test US willingness to participate in true world economic interdependence or see if the US will get protectionist.

Now, it seems another test is on the horizon…

Canadian oil giant EnCana is considering bringing in Chinese companies to construct and operate drilling rigs in the Colorado Rockies, as the region struggles to keep up with demand and rising energy prices.

EnCana, a major player in the Piceance Basin of western Colorado, said Chinese labor is cheap and the workers are well-educated. The move would be scrutinized in Washington, where politicians are uneasy about allowing Chinese workers to acquire access to U.S.-based oil and gas facilities.

More after the jump at The Oil Drum.

Rebel Gunmen Aim to Seize Control of Nigeria’s Vast Oil Reserves

If the rising cost of the world’s oil can be blamed on any one man, a portly African militia leader with a poster of Osama bin Laden glowering from his wall is the most likely culprit. Al-Haji Mujahid Dokubo Asari, the leader of a motley collection of gunmen styling themselves the Niger Delta People’s Volunteer […]

France Steps Up Water Curbs as Drought Intensifies

France extended water rationing to more than half the country on Monday as its worst drought in decades intensified and farmers said food output might suffer. “The drought that France has witnessed since September has been re-inforced by a heatwave at the end of June,” said the environment ministry’s drought bulletin, published on Monday. “The […]

Crude Oil Rises on Speculation Gasoline Supplies Probably Fell

Crude oil rose in New York for the first day in four amid speculation a report tomorrow will probably show U.S. gasoline stockpiles fell for a second week. Gasoline inventories probably fell 1 million barrels, from 215.3 million barrels in the week ended July 1, according to the median forecast of a Bloomberg survey of […]

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