Oil experts relieved with Rita’s path shift

Canada Research Council scientists learn about Peak Oil

A good friend of mine recently invited me in to give a talk on peak oil to his fellow researchers at the National Research Council Fuel Cell laboratory in Vancouver. As an alternative energy researcher he was concerned about the lack of dialogue around the ‘bigger picture’ context for his work – and was hoping […]

NYMEX declares force majeure

Sep 23, 2005 Sabine Hub Services Co., a unit of Chevron and the facility’s operator, was not immediately available for comment. Calls to the operator went unanswered on Thursday after many Gulf Coast offices were evacuated ahead of the approaching hurricane. Reuters

Toyota: Katrina drove up hybrid demand

Toyota U.S. exec: Prius inventory now counted in hours, not days. DETROIT (Reuters) – Toyota Motor Corp. has seen a rise in demand for hybrid vehicles in the United States in the aftermath of Hurricane Katrina as consumers seek more mileage out of $3-gallon gasoline, a top official said on Thursday. “At the end of […]

Oil companies sued, blamed for Katrina devastation

NEW ORLEANS (AFP) – A lawsuit filed in the wake of Hurricane Katrina blames oil companies for destroying coastal marshes that could have protected New Orleans from the massive tidal surge, lawyers announced. The class-action suit filed in federal court seeks to represent all Hurricane Katrina victims in Louisiana. Named as defendants are Exxon Mobil […]

Rita appears headed for heart of fuel industry

Powerful hurricane could make landfall later today; Houston may be spared HOUSTON – Hurricane Rita roared toward the Texas and Louisiana coasts early Friday, a major Category 4 storm that spurred a traffic-snarled exodus and fears it could cripple the heart of the nation…The first rain bands were expected before nightfall Friday with the full […]

OPEC ridicule British whilse Rita causes havoc – Oilcast #24

This week Oilcast takes a look at the way Rita could affect the oil industry. Will the consequences be as serious as predicted? Or will good luck prevail and a sell-off ensue?Also from the OPEC meeting in Vienna we hear Kuwait’s oil minister Al-Salah ridicule British chancellor Gordon Brown, plus news on non-OPEC output that […]

Jean Laherr

“Oil shales are a misnomer being neither shale or oil, in fact an immature source-rock which has not yet generated any oil and needs to be heated at 600 Oilcrisis.com (PDF)

Ritawatch 3: Chris Skrebowski discusses the Hurricanes

Dave Room speaks to Chris Skrebowski, Editor of “Petroleum Review” about his views on the likely impact that Hurricanes Katrina and Rita will have on the United States domestic production and refining capacity. GPM

The Oil Drum: UPDATED Rita Resources Page

WEATHER MODELS, MAPS, DAMAGE MODELS/PREDICTIONS, and insider information about where the worst places are to for Rita to hit…A lot of resources in one place after the jump to The Oil Drum.

Rita shuts 2.2M bpd gasoline output-EIA

Total amount of refinery capacity shut down amounts to nearly 5 million barrels per day. WASHINGTON (Reuters) – The amount of U.S. petroleum product production offline due to refineries shut down because of approaching Hurricane Rita totals about 2.2 million barrels per day for gasoline and 1.2 million bpd for distillate fuel, according to the […]

Rita Evacuees Running Out of Gas

As more than 1 million residents from along the Gulf of Mexico escaped from their homes, towns and cities across Texas struggled with housing the displaced masses, many still stranded on jam-packed highways. Tempers flared in the 97 degree Fahrenheit (36 Celsius) heat at the few gas stations that still had gas, overheated cars lined […]

Houston refining industry at a standstill

Hurricane Rita’s path will determine if gas prices stay high DALLAS – Hurricane Rita’s wandering aim could determine whether motorists face a small and temporary bump in gasoline prices or must adjust their budgets to absorb a bigger hit over a period of weeks. Oil-industry experts say Rita’s changing projected path and wavering power make […]

G-7 ministers seek ways to tame rising energy prices

The Group of Seven (G-7) finance ministers and central bank governors would investigate ways to control surging energy prices at a meeting in Washington today, the US Treasury said. Officials from G-7 countries, which account for two-thirds of the world economy, will discuss “supply deficiency issues”, the need for greater market transparency, and the effect […]

Dutch government to take energy price compensation decision in Dec

The Dutch government said it will make a decision on providing financial compensation to consumers who are hit by soaring energy prices in December, Dutch news agency ANP said. A majority in the Dutch parliament had demanded that the government compensate for high energy prices to preserve consumer purchasing power in 2006. Forbes

Rising energy costs put spotlight on wind power

With other energy costs rising, wind power is emerging as a competitive alternative, and several countries have evinced keen interest in the technology even though it is still not as cheap as bulk energy from nuclear or fossil fuels. The World Wind Energy Association (WWEA) believes wind-driven turbines are on the verge of major adoption […]

Saud Urges Quick Solution to Energy Crisis

Foreign Minister Prince Saud Al-Faisal yesterday called for quick solutions to the worsening world energy crisis, which he said had reached “dangerous” levels. In a lecture on “Saudi Arabia and the International Oil Market” at the Baker Institute in Houston, Texas, Prince Saud blamed the crisis on lack of refineries and growing consumption. Arab News

South Korean Consumers Become More Pessimistic on Oil

South Korean consumers are the most pessimistic they’ve been this year, primarily because higher oil prices are eroding their disposable incomes, the central bank said, citing a survey of 2,486 households. The consumer confidence index fell to 87 points this quarter from 92 in the previous three months, the Bank of Korea said in a […]

Shell Nederland president sees five-fold rise in oil production costs

Shell Nederland president Rein Willems said that oil production costs may rise five-fold in the near future. He said that for Shell, the higher costs will mainly be the result of more difficult resource-gathering and refining methods as the company moves to retrieve oil from sources other than the conventional oil wells. …Stating that ‘there […]

Truck blockade over fuel prices

Hundreds of angry truckdrivers are blocking major highways across Australia today, protesting against rising fuel prices. Motorists are being warned to expect significant delays at Macksville and Gundagai in NSW, Rockhampton in Queensland, as well as Western Australia. Herald Sun

This is global warming, says environmental chief

Super-powerful hurricanes now hitting the United States are the “smoking gun” of global warming, one of Britain’s leading scientists believes. The growing violence of storms such as Katrina, which wrecked New Orleans, and Rita, now threatening Texas, is very probably caused by climate change, said Sir John Lawton, chairman of the Royal Commission on Environmental […]

Clean air strategy seeks balance between health and business concerns

The strategy will cost Europe some €7.1 billion every year, down from the €12 billion initially proposed by Environment Commissioner Dimas. But the health benefits alone will be fivefold, he said. The ‘Thematic Strategy on air pollution’, was due for adoption by the College of Commissioners in July but was postponed due to pressure from […]

Policy Pete: In Which Currency Should Oil Be Priced Or Does It Matter?

The idea of non-dollar payments has been floating around for years, but there are many reasons why it has never taken root.  Now an upstart Iranian venture has proposed to price oil in Euros and many in the middle east seem to believe that it will be the beginning of the end for the dollar. […]

NYMEX to Open Trading Early on Sunday

NEW YORK, N.Y., September 22, 2005 NYMEX ClearPort

Oil to fall to $45: TD

Oil prices will slide to $45 (U.S.) a barrel by early 2007, as slowing U.S. economic growth trims demand for crude, according to a forecast from Toronto-Dominion Bank. Globe and Mail

Mobjectivist: Oil Shock Model (Revised)

New and intriguing peak production mathematical models: http://img385.imageshack.us/img385/7526/contshock4zo.gif http://mobjectivist.blogspot.com/

New Simmons Presentation: Are We in Energy Hole?

Matthew Simmons 9/13/05 Presentation to World Affairs Council, Houston, Tx (pdf) http://www.simmonsco-intl.com/files/World%20Affairs%20Council.pdf

Nigerian Militants Take Over Chevron Facility in Delta Region

Over 100 armed militants believed from illegal Niger Delta People’s Volunteer Force (NDPVF) on Thursday attacked and took over at least one oil flowstation operated by oil giant Chevron, an official of the US company said. The official who asked not to be named said about 120 armed militants in eight boats attacked the Idama […]

EU oil reserves at risk, as hurricane Rita approaches

EU oil aid to the US in the wake of hurricane Katrina could drain some member states’ stocks below agreed minimums Brussels warned, as hurricane Rita prepares to smash into Texas this weekend. “Some will almost certainly go below that figure”, the European Commission’s energy department head Helmut Schmitt von Sydow warned on Thursday (22 […]

High gas? Mum’s the word

…At CNNMoney.com, we quoted a couple of analysts pointing out the threat from Rita and got hit with a slew of hate mail. Some examples … “You (people) are becoming accessories to higher energy prices by consistently publishing stories of gloom and doom generated by these so-called analysts. You people are so easily manipulated. By […]

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