Non-OPEC’s oil production to rise by 600,000 bpd by end of 2005

The output of non-OPEC oil producing countries in the last quarter of 2005 will rise by 600,000 bpd to 51 million bpd from 50.4 million bpd in the third quarter of the year, said OPEC in its latest report. IRNA

Budget deficits explode. Inflation rules. Stock markets plunge. Houses foreclose. Great powers clash. This may be our future if we do not take more serious steps on energy than those offered in the energy bill that President Bush recently signed. With oil prices hitting all-time highs and war raging in Iraq, serious concerns about NewsTribune

Winter of discontent in the pipeline. (UK)

Scare stories about energy prices and cold winters are not uncommon, but their stark predictions haven’t come true. That’s partly because over the past 15 years, most winters have been comparatively mild. But that could be about to change: the Met Office has just published its first forecast covering the 2005/06 winter (the North Atlantic […]

Why Are Gas Prices So High?

In short, there’s a tight balance of supply and demand, and jittery traders worry the market will tighten even further. The latest gasoline surge, when prices at some pumps jumped a dime a gallon overnight, was blamed on crude oil prices that peaked at $67.10 on Aug. 12, and a string of refinery disruptions amid […]

Extent of global oil reserves a matter of some dispute

Even as the world’s thirst for oil grows, no one quite knows how much of the precious liquid we have. Some experts say that the Earth’s oil reserves are smaller than we think. For example, Saudi Arabia, the global economy’s gas tank, might not have the vast petroleum reserves its leaders claim, according to a […]

Asia braces for rising oil prices

Asia’s oil-guzzling economies are bracing for the worst as crude prices threaten to hit $70 a barrel, stoking fears of slower growth, soaring inflation and rising interest rates. Oil prices surged to an all-time high of $67.10 a barrel on 12 August, and while they have since pulled back to about $64, analysts said prices […]

China may tweak oil price-setting formula

China is considering a new method for setting domestic oil product prices that could lead to more frequent adjustments aimed at easing the sort of shortages that have hit the south of the country, a newspaper reported on Saturday. China has raised retail prices of diesel and gasoline three times this year, but the increases […]

Spare wind turbine power to fuel hydrogen cars

Giant wind turbines will be used to power a new breed of environmentally friendly cars that run on hydrogen gas under a pioneering scheme by Scots scientists. ScottishPower plans to harness surplus electricity generated by turbines during high winds and convert it to hydrogen gas, which can be stored and used as fuel. It envisages […]

Iraq fuel smuggling is booming business

The rusted skiffs chug down this broad channel lined with marsh, sometimes so laden with illegal cargo that they rise only inches above the water. Usually they’re carrying diesel fuel, bought cheaply in Iraq and smuggled for a handy profit to countries such as Iran, Kuwait and the United Arab Emirates. To authorities here in […]

Choking on crude

Indonesia’s teeming capital is a city of glittering skyscrapers and grinding poverty — in other words, a city of contradictions. Amid such chaos and in a place where things are not always what they seem, many Indonesians are not surprised at the ironic turn their country’s oil industry has taken. … Chevron is, by far, […]

How to Escape The Oil Trap

If I could change one thing about American foreign policy, what would it be? The answer is easy, but it’s not something most of us think of as foreign policy. I would adopt a serious national program geared toward energy efficiency and independence. Reducing our dependence on oil would be the single greatest multiplier of […]

Zim fuel crisis creates instant oil barons

The liberalisation of Zimbabwe’s fuel sector has created instant oil barons who have made billions of dollars from importing fuel and selling it to private companies as well as trading in fuel coupons. Investigations by reporters have revealed that some fuel dealers were buying foreign currency on the black market and then buying fuel coupons […]

The Breaking Point

Poster’s Comments: The Peter Maass article in the New York Times is now online. It is the cover story of the magazine. I visited Ras Tanura because oil is no longer out of mind, thanks to record prices caused by refinery shortages and surging demand — most notably in the United States and China — […]

World Bank concern over Chad oil revenues

The World Bank has expressed serious concern about the use being made by the government of Chad of oil revenues from a big pipeline project assisted by the bank. Chad is an important test case for the World Bank in encouraging oil and mineral-rich African countries to improve transparency and tackle corruption. Ali Khadr, a […]

The Oil Drum: Dispensing with the hogwash

I have heard it said many times that it’s not worth conserving oil, gas, watera lot more Jevons talk after the jump to the NEW AND IMPROVED Oil Drum at theoildrum.com!

Two Hyatt Hotels to Buy Renewable Energy Only

Two Hyatt Regency hotels in the Dallas area have agreed to buy only renewable energy, making them the nation’s largest hotel purchasers of energy from wind, solar and other renewables. The hotels will buy their power from Austin-based Green Mountain Energy.USA Today

Manmohan Singh pitches for renewable sources of energy

To achieve the goal of making electricity available for every household in the country, Prime Minister Manmohan Singh has emphasised on the need for exploring renewable sources of energy. http://www.newkerala.com/news.php?action=fullnews&id=15534

Shell, ExxonMobil OUT Of Venezuela Gas Project

CARACAS -(Dow Jones)- Venezuela’s oil minister said Friday that Royal Dutch Shell (RDSB.LN) and ExxonMobil Corp. (XOM) will no longer participate in the Mariscal Sucre natural gas project.Venezuela will begin to develop the project’s initial two fields on its own, Rafael Ramirez told reporters.DowJones

Geostrategic game revives with new players

ALMATY, Kazakhstan USAToday

Army’s South Command reduces fuel use: Philippines

The military’s Southern Command announced it was implementing more drastic measures to further reduce its fuel cost amid the surging petroleum price that is seen to worsen the country’s fiscal woes. .. Col. Dominador Tutaan Jr., Southcom chief of staff, said the additional measures include the switching off of lights and airconditioning units and limiting […]

Farmers’ fuel furore

Farmers warn the cost of diesel will create a worse long-term disaster for western and northern Queensland than the drought, and are putting pressure on the Federal Government to investigate the “blatant rip-off at the pump”. Farmers have the support of their city cousins – the call for an inquiry is backed by the state’s […]

Venezuela Oil Company to Open Office in China

CARACAS, Venezuela (AP) – Venezuela’s state oil company Petroleos de Venezuela S.A. will open an office in China in the coming days, the firm’s first in Asia, officials said. The plan for an office in Beijing was announced Friday at the close of an investment conference held by the state oil company commonly known as […]

Iraq constitution talks stall over Islam, oil

BAGHDAD, Iraq Journalstar

Iran denies reports on threat to block Hormuz Strait

TEHRAN, Aug. 20 (Xinhuanet) — Iran on Saturday strongly denied arecent Western media report that its top nuclear official had threatened to block Hormuz Strait if its nuclear standoff could notbe settled, the official IRNA news agency reported.Hormuz Strait, the waterway from the Gulf to the India Ocean,plays a considerable role in the global transportation […]

Oil Spike Different From Past Scenarios

Ouch. Oil is hovering above $66 a barrel and the price of filling up your car is approaching $3 a gallon. While this year

Oil seen topping $100

Oil prices will soar to more than $100 a barrel as part of a sustained commodities bull run, while equities will languish, US commodities guru Jim Rogers said. “I don’t know about the next quarter or even next year… But it will go over $100 a barrel, but I’ve no idea how long it’s going […]

Get used to $60 a barrel, says Goldman

Oil prices may have fallen during the week from their recent record peaks, but they have remained comfortably above the $60 a barrel level

Uranium Producers Prepare for Boom

ANTICIPATED rises in the price of uranium over the next decade, driven by demand for a clean, sustainable energy source, have prompted producer countries to develop their production facilities. SA, the fourth-largest uranium producer with 8% of the world’s reserves, has declared it a protected mineral resource in line with the Mineral and Petroleum Resources […]

Iraq at the gates of hell

As professor Juan Cole, an expert in Iraq and Shi’ism, recently wrote in the Nation: “If Iraq fell into civil war between Sunnis and Shi’ites, the Saudis and Jordanians would certainly take the side of the Sunnis, while Iran would support the Shi’ites.” In essence, a civil war would see the eight-year Iran-Iraq war of […]

Natural gas price spike about to hit consumers

Manitoba Hydro is predicting a big spike in the price of natural gas this winter. Natural gas rates have historically followed gasoline prices and they

« Previous Page — Next Page »

LATEST NEWS HEADLINES

• Why the IEA is Wrong About Peak Oil Demand
• Did we inadvertently speed global warming?  
• Venezuela’s Oil Monopoly Eases
• Why Germany is Choosing Natural Gas Over Nuclear Power
• U.S. coal-fired electricity generation decreased in 2022 and 2023

• America Cracks Down on Methane Emissions from Oil and Gas Facilities
• Meet America’s Newest Oil Trader Extraordinaire: Joe Biden
• Is It Time To Refill America’s Strategic Petroleum Reserve?
• Oil prices set to end year 10% lower as demand concerns snap winning streak
• What’s Driving America’s New Oil and Gas Boom?
• China’s peak oil demand bombshell eviscerates Danielle Smith’s energy strategy