Investors know oil will peak, the problem is where?

Global investors know two things as oil prices push record highs above $70 a barrel — that the world economy can withstand the growth and inflation pressures near term, but crude costs this high are unsustainable long term. But it’s what they don’t know — the level at which the world’s most vital commodity will […]

Merkel might release oil reserves to cut prices

Germany’s opposition chancellor candidate Angela Merkel, who polls predict will win elections in just over two weeks, said Thursday she would consider releasing the country’s strategic oil reserves to ease soaring petrol prices. “This should not be a taboo in Germany,” said Merkel in reply to calls by the opposition Free Democrats (FDP), with whom […]

Indonesia detains six for oil smuggling

Indonesia has launched a crackdown on rampant oil smuggling, detaining six workers from a state-owned company and seven ships, including three flying foreign flags, police said Thursday. Indonesia’s fuel subsidies — which keep the price of gasoline at 2,400 rupiah per liter, or about 24 U.S. cents — have made the smuggling of oil to […]

Rising geopolitics in oil market

In 2004, hurricane Ivan caused significant damage to the northern Gulf of Mexico and southeastern U.S. It pushed this upward trend in oil prices, which continued even after Ivan dissipated. The more fundamental widening gap between the supply and demand of oil continues to increase, and the problems arising from this scarcity fail to be […]

New Orleans: A Geopolitical Prize

Last Sunday, nature took out New Orleans almost as surely as a nuclear strike. Hurricane Katrina’s geopolitical effect was not, in many ways, distinguishable from a mushroom cloud. The key exit from North America was closed. The petrochemical industry, which has become an added value to the region since Jackson’s days, was at risk. The […]

Oil, Gas Companies Try to Reach Employees in Wake of Katrina

Oil and gas companies are stepping up efforts to reach hundreds of employees who remain unaccounted for days after Hurricane Katrina slammed the Gulf of Mexico. Companies want their workers to call hotlines posted on company Web sites or, at the very least, get word to supervisors through someone that they’re safe. There is an […]

Energy Security Conference Sept, 2005

Dept of Energy and private energy companies develop strategies to protect energy infrastructure including electricity, oil and gas. Electric Utility Consultants, Inc.

Major fuel pipelines resume limited operation

The two major pipelines carrying gasoline from Texas and Louisiana refineries to the east coast have resumed limited operations. Both the Colonial Pipeline company and the Plantation Pipeline company have issued press releases announcing the restart of their pipelines at reduced capacities. Colonial Press Release Plantation Press Release

LOOP Resuming Some Crude Oil Operations

The Louisiana Offshore Oil Port, known as LOOP, reported today it is resuming some of its crude oil operations. LOOP, the operator of LOCAP pipeline, began limited operations Wednesday when crude oil was delivered from the LOCAP storage facility at St. James to a local refinery. 2theadvocate.com

Storm May Shut Refineries For Months

WASHINGTON (Reuters) – The government warned on Thursday that some U.S. refineries shut by Hurricane Katrina may not resume processing oil for several months and a consumer group said such market conditions justified gasoline at $3 a gallon. “Some refineries likely (will be) able to restart their operations within the next 1 to 2 weeks, […]

Katrina’s Gulf of Mexico Wreckage May Spark $100 Oil

Sept. 1 (Bloomberg) — As Hurricane Katrina slammed through the Gulf of Mexico, energy companies evacuated offshore workers and shut about 91 percent of the region’s oil production, or 1.37 million barrels daily. “There isn’t the global spare capacity out there to replace this loss if it continues for a prolonged period,” says Bart Melek, […]

ASPO Newsletter #57 – September 2005

The ASPO September 2005 newsletter is now available. Articles in this newsletter: 593 Economic Impact Of High Oil Prices 594 Country Assessment

The Oil Drum: Ideas about the Future of Energy in the US

Over at TOD today, we have a post that attempts to integrate all of the ideas floating around in the blogosphere about the impacts of Katrina on domestic and geopolitical wranglings about energy. The post involves our anonymous energy insider and Prof. Goose going pretty in depth on the many of the issues we face […]

Gas prices surge above $3

Drivers flock to the pumps as outages, bottlenecks fan fears of a gas shortage. NEW YORK (CNN/Money) – Gasoline prices spiked as high as $5 a gallon in some areas Thursday as consumers fearing a gas shortage raced to the pumps. Drivers in Atlanta said stations were charging well over $3 a gallon for regular […]

The Battle of Azadegan: Japan, Oil and Independence

By about 1999 the Japanese government began to seek closer relations with Teheran. In the following months and years, Japanese-Iranian relations began to accelerate quickly. When in February 2000 the Japanese-owned Arabian Oil Co. lost its long-term concession in Saudi Arabia’s Khafji oil field, Japanese officials began to consider Iran as a suitable alternative. …It […]

Study reveals huge U.S. oil-shale field

The United States has an oil reserve at least three times that of Saudi Arabia locked in oil-shale deposits beneath federal land in Colorado, Utah and Wyoming, according to a study released yesterday. But the researchers at the RAND think tank caution the federal government to go carefully, balancing the environmental and economic impacts with […]

Flood-damaged American oil companies are expected to turn to European refineries for alternative supplies of road fuel, forcing up the price of petrol and diesel in Britain. Concern that a tenth of America’s refining capacity lies under water sent the wholesale price of petrol rocketing on the NYMEX futures exchange in New York and yesterday […]

Fuel costs drive switch to superminis

Rising fuel costs are expected to accelerate the switch from large cars to smaller, more fuel-efficient vehicles and diesel power as cars with the new 55 registration plate go on sale today. Against a fall in overall new car sales, supermini vehicles and diesel engines have continued to buck the trend as motorists seek more […]

China to slow exports of gas, oil products

China will suspend tax rebates for gasoline and naphtha exports through the end of the year, the State Administration of Taxation announced, in an apparent step to ensure adequate domestic supplies amid rising oil prices. The suspensions will take effect from Thursday, according to a brief announcement on the administration’s Web site. The announcement gave […]

Soaring Oil to Trigger New Renewables Boom

Rocketing world oil prices will trigger a wave of new investment in renewables as green energy becomes more competitive and countries push to reduce their reliance on imported crude, analysts say. The oil price crisis in the 1970s spurred massive investment in renewables, and now with crude hitting $70, the sector is set for another […]

Airlines May Face Possible Fuel Shortages

With the airports in New Orleans and Gulfport, Miss., closed to commercial traffic, airlines that serve the popular destinations face a loss of business while dealing with potential fuel shortages. Daily jet fuel production nationwide has been cut 13 percent because of damage from the hurricane to Gulf Coast refineries, according to Jack Evans of […]

Need stressed for continuous energy supply to industries

President Gen Pervez Musharraf directed the government on Wednesday to strive for optimum utilization of indigenous energy resources and finalize import options for uninterrupted supply of power to local and foreign industrial concerns…“We not only need to make full use of indigenous reserves but also work speedily to import electricity and gas from regional countries,” […]

Analyst: Katrina Could Send Natural Gas to $15 by December

Natural gas prices, which reached a high of $12.25 in futures trading Wednesday, could hit $15/MMBtu by the end of December, predicted analyst Philip Verleger, a visiting fellow at the Institute of International Economics and former director of the Office of Domestic Energy Policy at the U.S. Treasury Dept. “My guess is the coming squeeze […]

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