Why Iran will lead to World War 3

by Mike Whitney  08/08/05 “ICH” – — The facts about Iran’s “alleged” nuclear weapons program have never been in dispute. There is no such program and no one has ever produced a shred of credible evidence to the contrary. That hasn’t stopped the Bush administration from making spurious accusations and threats; nor has it deterred […]

The Kings of Asia are Gathering: But Why?

July, permanent members of the Shanghai Cooperation Organization (SCO) http://www.fmprc.gov.cn/eng/topics/sco/t57970.htm, China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan, met in the Kazakh capital of Astana to discuss matters of mutual importance which included trade, energy, security and technology cooperation. A growing number of Western observers, however, fear that the SCO is less a cooperative arrangement and […]

No Relief in Sight for Gasoline Prices

“I am very upset with the high prices. This is not normal,” said Hunter Yon, a cartoonist in that city. But Mr. Yon, and a lot of other Canadians, should brace themselves for the new normal in energy prices. Experts, including those who have placed big bets in commodity trading, say it could be many […]

Diesel price in state zeroes in on $3 mark. (California)

California’s average diesel price approached $3 per gallon Monday, the latest unwelcome record in a sudden cost surge triggered by growing demand and a refinery fire. The state’s average stood at $2.94 per gallon, after soaring 28 cents in the last week, according to the Energy Department. SFGate

Is petrol too expensive?

The recent price surge in oil to well beyond US$60 a barrel has ignited fears of whether output can meet demand in the face of refinery closures and instability in the Middle East. Are you concerned? How have rising petrol prices affected you? What impact will instability in oil markets have worldwide? What can be […]

India not influenced by U.S. pressures over gas pipeline

The U.S. has been exercising some pressure on India over the pipeline construction carrying Iranhttp://www.tehrantimes.com/Description.asp?Da=8/9/2005&Cat=9&Num=3

Oil Prices to Reduce E. Asia’s Growth

Record-high oil prices, declining exports and slower growth in China and Singapore are expected to reduce East Asia’s economic growth rate to 6.8 percent this year from 7.6 percent in 2004, the Asian Development Bank said Tuesday. China’s economic growth is likely to slow to 8.9 percent from 9.5 percent last year, it said.

Updating Saudi Production Plans

The attached rough map is derived from one in the OGJ and shows the current oilfields along the Saudi coast, with those contributing to production shown in gold. (To give a sense of scale the island of Bahrain at the bottom is about 30 miles long).

Questions upon the likelihood of the world being able to match oil supplies with demand, usually devolve onto how much oil will be exported from Saudi Arabia. Just this last week the EIA site describing that country was updated, following the accession of King Abdullah.

Maps and figures after the jump at The Oil Drum.

Oil and Hedge Funds

A couple of weeks ago there was a piece on cable news about the airline business, looking at the hobbling majority, the mostly bankrupt majors and sunny little Southwest whose market cap now exceeds United or some such sharemarket BS. The crux of the matter was that, while everyone else, except maybe Ryan Air, is […]

The Devil You Think You Know

Ten days ago, in Damascus, I sat down with a Syrian official I’ve known for years and asked the question on everyone’s mind. What’s with the jihadists crossing Syria’s border into Iraq? There is no way anyone can control a long border like that, he said, sounding the official line. Then he dropped a bombshell. […]

Miscues set up nuclear crisis

Iran’s resumption of uranium-processing activities and the EU-US warning of sanctions in response to Iran’s rejection of the latest European proposal have set the stage for a full-scale international crisis engulfing the United Nations at a time the world organization can ill-afford the entanglement of this crisis. …in light of Iran’s fulfillment of its nuclear […]

Oil, wages put pressure on Fed

Oil prices are surging and wages are growing at the fastest clip in a year, and economists say that’s reason enough for the Federal Reserve to keep pushing interest rates higher the rest of the year and probably well into 2006 in an effort to keep inflation in check. When the Fed’s interest-rate policy committee […]

Russian Court Turns Down Oil Referendum Plan for Far East Kamchatka Region

The Petropavlovsk-Kamchatskiy city court has granted an appeal by the regional prosecutor’s office to cancel a referendum on protecting the West Kamchatka shelf from oil development, Interfax news agency reported. The referendum was ordered by deputies of the regional council. …Deputies of the regional council believe that “development of oil and gas fields on the […]

“What is Peak Oil” Part 2

Last week, I, peakguy, wrote a short post as a primer for people new to the concept of Peak Oil. I really encourage anyone new to the subject to read some of the links at the bottom of that post because they are quite compelling reads. As my second post on this series I want […]

OPEC member Indonesia to be net oil importer this year

Indonesia, Southeast Asia’s sole member of the Organization of Petroleum Exporting Countries, will be a net oil importer in 2005, Coordinating Minister for the Economy Aburizal Bakrie said Tuesday. “Without a doubt, Indonesia in 2005 will become a net oil importer due to low oil output,” Bakrie told reporters, without elaborating. Bakrie said Indonesia’s oil […]

IAEA set for key talks on Iran

The UN nuclear watchdog is about to meet in emergency session to discuss Iran’s resumption of fuel cycle work at its uranium conversion facility.The IAEA confirmed on Monday that work had begun at the plant near the city of Isfahan, after it was suspended in 2004 to allow for negotiations with the EU.

Signs Show Oil Sands Will Continue to Reward Investors

While investors have been racking up significant gains in the Canadian Oil Sands stocks over the past year, the ride may just be beginning. According to a recent 138-page report by Raymond James,

Increased production of UK oil and gas fuels turnaround talk

BRITAIN’S oil and gas production managed a 0.1 per cent year-on-year increase in May, despite output for both falling during the month. The marginal rise shown in the latest Royal Bank of Scotland’s Oil and Gas Index helped stem the run of sliding output that has been a feature of the past two years and […]

UK petrol prices hit new record

The average price of unleaded petrol in the UK has risen above 90p a litre for the first time. Catalist, which monitors prices, says the average for unleaded is 90.2p a litre, and just under 94p for diesel.

Iraq Has 100-Day Plan To Hike Oil Output, Exports

BAGHDAD -(Dow Jones)- Iraq has a 100-day plan to raise its crude oil production and exports to levels reached at the first six months of 2004, Iraqi Oil Minister Ibrahim Bahr al-Uloum said Tuesday. At the first six months of 2004, Iraq’s oil output reached around 2.5 million barrels a day, of which 1.75 million […]

Dissident: Tehran Has 4,000 Centrifuges

Iran has manufactured about 4,000 centrifuges capable of enriching uranium to weapons grade, an exiled Iranian dissident who helped uncover nearly two decades of covert nuclear activity in 2002 said Tuesday. Alireza Jafarzadeh told The Associated Press the centrifuges — which he said are unknown to the U.N. nuclear watchdog agency — are ready to […]

CIA asked us to let nuclear spy go, Ruud Lubbers claims

The CIA asked the Netherlands not to detain Pakistani scientist Dr Abdul Qadeer Khan for stealing nuclear secrets from a Dutch facility, former Prime Minister Ruud Lubbers has claimed. Speaking on Dutch radio programme Argos on Tuesday morning, Lubbers said the Dutch authorities held off from taking action against Khan in 1975 and 1986 because […]

Revisiting fuel-conservation, Indonesia

The market pricing mechanism and fiscal measures the government, state oil company Pertamina and State Electricity Company (PLN) have and will implement will help encourage fuel efficiency, cut fuel and electricity consumption and consequently government spending on the fuel subsidy. The government announced last week all large industrial enterprises would be required to buy diesel […]

Australia to Begin Talks on Uranium Exports to China

Australia, the world’s second-biggest uranium exporter, will start negotiations for an agreement to allow uranium shipments to China, which plans to boost nuclear energy fourfold by 2020. The agreement will set up safeguards to ensure Australian uranium supplied to China is only used for peaceful purposes, Foreign Minister Alexander Downer said today in an e-mailed […]

Sugar on uncharted course, link to funds, energy

Sugar prices, the highest for nearly five years, are entering uncharted territory as investment funds show a record interest in the commodity which traders see as increasingly tied to energy markets. After raw sugar futures set a fresh 4-1/2 year high of 10.35 cents per lb last week, some traders say they have the potential […]

Government launches Bio-Energy Program in Maranh

Today minister of Agriculture, Roberto Rodrigues, will be in SRadio Brasil

Cleaner transport through engine ‘neurosurgery’ and recycled cooking

The next generation of motor vehicles could be powered by engines that are cleaner, greener and smarter, thanks to research at two South West universities. Engineers at the University of Bath are carrying our research described as being like ‘neurosurgery on diesel engines’ to find ways of making them even more efficient than their petrol-driven […]

Dubai points way to economic life beyond oil

Gulf states are booming due to record oil prices, yet the region’s fastest rising economic star is Dubai, where oil reserves are actually dwindling. The emirate has reinvented itself as a hub for trade, finance, property and tourism, and along the way has come to embody hopes of a bright future for the Gulf even […]

Drought Hits Maize in Spain, Southwest France

Maize crops in Spain and southwest France will fall well short of last year’s without relief in the next few weeks from severe drought, farmers’ groups said on Monday. Spain’s worst drought on record has already wrecked wheat and barley harvests. Its maize crop is also expected to be far lighter than last year’s, although […]

Terror worries push oil price towards $64

Warnings of a possible terrorist attack in Saudi Arabia and worries over Iran’s resumption of its nuclear programme helped push crude prices to nominal records, with analysts saying the price could soon breach $65 a barrel. ..Meanwhile, a sequence of accidents and lack of spare capacity mean refineries could face difficulties meeting global oil demand […]

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