NZ Government unprepared for peak oil

Few New Zealanders can have failed to notice the rapid rises in fuel prices over recent months. However, many New Zealanders still do not realise the real reason for these rises. Probably the main reason for this situation is that the Clark government has deliberately downplayed or totally ignored very pertinent facts, in order to […]

Fear is the fuel driving oil prices along the Peak theory road

Amid the demand to fuel an insatiable Chinese economy, not to mention India, crude oil prices are not so much driven by OPEC these days, or by mere cyclical phenomena such as the uptick from demand for “driving season” in the US, or impending demand for heating in the northern hemisphere winter. Cyclones in the […]

An Impending Economic and Humanitarian Catastrophe?

A new report from investment bank BMO Nesbitt Burns paints a decidedly unpleasant picture for investors as well as the population at large regarding the potential effects of a pandemic of inter human transmissible Avian Flu. The disease, as its name suggests, mainly afflicts fowl, but certain strains can be pathogenic to humans and if […]

The Humpty Dumpty Effect

We all know the story of Humpty Dumpty. Poor old Humpty was just relaxing, taking it easy on a wall one day. Maybe he was enjoying a smoke. Maybe he was checking out the lady eggs. Then all of a sudden… WHAM!! The poor schmuck falls off the wall and busts into a million pieces. […]

Electricity prices shock heavy users

A decision last year by the Pennsylvania Public Utility Commission to shut down multiyear contracts between Duquesne Light and its industrial users is having the desired effect of breaking Duquesne Light’s stranglehold and forcing those users out into the market to shop for the best rate they can find. But manufacturers who are trying to […]

The Oil Drum: First person reports…how do high gas prices affect you?

Lem head points us to a “Citizen Journalist” piece on MSNBC about ways in which people have changed their lives because of fuel costs. There are actually 5 internet pages of responses. Looks like folks are finally getting hot and bothered. Most people are doing the obvious: running multiple errands at once and tacking them […]

Beijing under pressure to tackle oil shortages

Rising anger in China over spreading fuel shortages is increasing pressure on Beijing and the local oil majors to devise a new pricing policy to head off future crises over oil supplies to motorists. The shortages have begun spreading north from Guangdong, in southern China, which has seen the longest petrol queues in recent weeks, […]

Economy Shows Signs of Strain From Oil Prices

Inflation surged last month, the government reported yesterday, as the long rise in energy prices finally seemed to be pinching the American economy. After absorbing the burden of oil at $40 a barrel, then at $50 and beyond, consumers have started to react as prices have risen above $60 in recent weeks. Wal-Mart blamed high […]

OPEC raises its forecast for oil demand growth

Cartel also says supplies must offset lower output from non-OPEC countries LONDON – Oil cartel OPEC nudged up its forecast for world oil demand growth in 2006 on Wednesday and predicted OPEC supplies would have to offset lower-than-expected output from non-OPEC countries. OPEC now expects world oil demand to grow by 1.57 million barrels per […]

Is a hybrid car worth the gas savings?

Green cars cost more to buy, more to insure, and depreciate faster Clay Chandler is looking for his second hybrid, this time an SUV, because as the owner of a Toyota Prius, heDavid Champion tests cars for Consumer Reports. The government says the popular Prius gets 60 miles a gallon in the city and 51 […]

Fuel Costs Overflow

TASMANIANS are being forced to tighten their belts and alter their lifestyles as they feel the pinch of skyrocketing fuel prices. As fuel climbed to around $1.25 a litre in Hobart yesterday, Tasmanian Automobile Chamber of Commerce general manager Malcolm Little warned it would take its toll on the lives of Tasmanians.“We recognise fuel as […]

Soaring oil prices bring trouble to Bangladeshi economy

Soaring oil prices in the global market have already started biting the economy of Bangladesh, witheconomists and business leaders calling on the government to act promptly to cope with the situation. They suggested the government go for austerity measures to cope with the negative impact of soaring oil prices, which touched the highest ever 67 […]

Safety risks higher due to airline competition: pilots

Belgian pilots claim that economic pressure for pilots to take-off despite minor technical malfunctions with their planes has risen enormously in the recent period. The claim was made in reaction to a series of recent international plane crashes, the latest of which saw 160 people killed when their Colombian West Caribbean Airways plane crashed in […]

High oil prices challenge Indonesia’s economy

Indonesia’s oil troubles are coming home to roost, posing a growing challenge to President Susilo Bambang Yudhoyono’s ability to maintain economic stability. Indonesia is a member of the Organization of Petroleum Exporting Countries, and oil and natural gas represent one of the country’s largest sources of export revenue. But as a result of red tape, […]

Cheney joins the oil sands pilgrimage

It might be the lofty price of oil, the emergence of China as a voracious consumer of a scarce resource, or perhaps the fly fishing. But U.S. Vice-President Dick Cheney is coming to Alberta, and a visit to the oil sands is high on his agenda. The trip slated for next month is being billed […]

Global warming conference in Greenland

Environment ministers from 25 countries are meeting for a conference on global warming opening today in Greenland. The meeting comes after a study showed that the Arctic has been heating up twice as fast as the rest of the Earth over the past decade due to the so-called greenhouse effect. DR Nyheder

Time to Consider the Alternative

As Americans get used to nearly $3 gallon gasoline, there has been precious little mainstream discussion of the alternatives. WHAT alternatives, you say? So it’s time to seriously think about the obvious (at least to me) solution to our gasoline woes. It will cause some pain, but is technologically feasible within a half dozen years, […]

Oil prices heighten fears over slowing global economy

Sharp rises in fuel prices are eroding the spending power of consumers, heightening fears that record nominal oil costs may start to slow the global economy. US consumer prices climbed 0.5 per cent last month and 3.2 per cent over the year faster than the 2.7 per cent increase in hourly wages. The increase in […]

Inflation hits eight-year high

The prospect of further cuts in interest rates receded sharply yesterday after government figures showed soaring oil prices and less generous summer sales pushing inflation to its highest level since Labour came to power. With petrol prices at record levels and signs of a pick-up in underlying price pressure, the City said it was looking […]

En route to $75 oil

Oil prices are high and likely to climb higher through 2005 and probably into 2006. Despite ongoing comments about the market actually having enough supplies, the reality is that international oil markets are not driven by anything rational. Rather, fear and loathing sit at the back of each upward oil trade. A confluence of increased […]

Is Oil Heading for $100 a Barrel?

Britain and the United States heard a faint echo from the 1970s yesterday as the escalating cost of a tank of petrol contributed to higher inflation. And with tension in the Middle East providing another reminder of life three decades ago, the message last night was that consumers can expect more of the same over […]

Would More Refineries Lower Gas Prices?

There are 149 refineries in the United States, and the strain on them is showing. Months of operating at nearly full throttle ABC News

Revolutionary Technology Could Significantly Increase Heavy Oil Production

A revolutionary new DOE-funded oil production technology that promises lower costs, reduced environmental and safety risks, and increased production is being commercialized by research partner Completion Concepts Inc., Katy, TX. The announcement follows last year’s successful full-scale testing of the new technology, called “Teleperfs.” An upcoming “real-world” test of the unit in an Alaska injection […]

The Cost of Oil And Hubbert’s Peak

There is now a theory that world oil production is approaching the same “Hubbert’s Peak.” Kenneth Deffeyes of Princeton, author of “Hubbert’s Peak: The Impending World Oil Shortage,” is one of the principle proponents. Applying Hubbert’s techniques to world oil, Deffeyes found that non-OPEC discoveries peaked in 1975. That means we should be approaching peak […]

Indonesia Min: Global 2006 Oil Prices May Fall $10-$12/Bbl

Oil prices in the global market are expected to fall by between $10-$12 per barrel next year from the current $65/bbl mark, as high oil prices are forecast to hurt global economic growth in 2006, Indonesia’s Mines and Energy Minister Purnomo Yusgiantoro said Tuesday. “Global economic growth is expected to slow down next year,” Purnomo […]

China Jul Oil Output Data Show Firm Demand Growth

China continued to ramp up its crude oil processing rate and produced more refined products in July, a sign that demand from the world’s second largest oil consumer is still growing at a healthy, steady pace. Last month, China processed 24.62 million metric tons of crude oil, or 5.82 million barrels a day, 7.2% more […]

Saudi: No Need to Boost Oil Output for ‘Foreseeable Future’

Saudi Arabia sees no reason to boost its oil production for the “foreseeable future,” because current record-high oil prices are the result of refinery tightness and geopolitical concerns and not the result of a crude shortfall, a Saudi oil source said Tuesday. Daily production by Saudi Arabia, by far the world’s largest exporter, will remain […]

Venezuela threatens anew to turn off oil spigot to US

CARACAS (AFP) – Venezuela’s energy minister, Rafael Ramirez, said that Caracas is “ready and willing” to cut off its oil supply to the United States, if there are any signs of aggression from the superpower toward his country. …..”The US market is not indispensable to us,” he told thousands of young people taking part in […]

Uranium shortage poses threat

A recent report by the Asia Pacific Foundation of Canada said that there was likely to be a 45,000-tonne shortage of uranium in the next decade, largely because of growing Chinese demand for the metal. Prices for uranium have almost tripled, to about $26/lb between March 2003 and May 2005, after being stable for years. […]

A Challenge to Peak Oilers

If peak oil were imminent, and the market were taking it into consideration, we would expect continuous rising contract prices. Which we don’t have. Contract prices peak with January and February of 2006, and then begin to taper off.LewRockwell.com

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