Hedges jump into oil lending

WASHINGTON – When USA Superior Energy was looking to raise $2.5 million in cash to buy up some depleted oil fields in Texas, Kansas and Kentucky, the banks weren’t interested in lending. The Houston-based company had been around for scarcely a year and wanted to use its proprietary technology to extract oil trapped in these […]

The Family Hatch

The Mazda6 is fun All this is predicated on sharp increases in Saudi Arabian oil production. The Department of Energy’s “International Energy Outlook 2005″ projects that Saudi Arabia should be producing 20.4 million barrels of oil per day by 2025, twice its current production. That’s a big if, and skeptics like energy analyst and sometime […]

Big Oil Making Big Acquisitions To Shore Up Declining Reserves

Faced with dwindling oil and natural gas holdings, and record prices, energy companies are thirsty to add to reserves. They can do it the old-fashioned way by exploring and drilling. Or, if they’re in a hurry, they can simply buy rivals with proven reserves in the ground. A spate of acquisitions shows that many players […]

Oil majors pumping cash into reinvention of image

It’s energy without carbon emissions Carbon sequestration could cut 90 per cent of carbon dioxide emissions, BP claims, a figure that adorns a multimillion-dollar advertising campaign with the catch-line:

We are facing a severe survival test

This is the winter of our discontent and also of our discomfort. Our wake up call has arrived. U.S. News, in a recent article analyzing the energy outlook, predicts the next several months will test our survival skills to the maximum. Peak Oil and Gas are beginning to weigh upon us. Experts in the energy […]

On your bikes, urges Hollywood movie

Starring George Clooney, Matt Damon, and William Hurt, the new Warner Bros film ‘Syriana’ is a complex thriller set against the backdrop of a world thirsty for oil, and with politicians and oil producers and terrorists eager to get their slice of the action. The film’s production company has set up a campaigning website to […]

Sliding Down the Flagpole

Last week the US Department of Energy released the preliminary version of its Annual Energy Outlook 2006. This document, which projects supply, consumption, and prices for all forms of energy; is the official US government position on what energy resources will be available and at what cost, five, 10, 20, and even 25 years in […]

Oil Market Outlook 2006: Future Imperfect

Like a lot of markets, the oil indexes are strange beasts indeed. Theories come and go. Waves of fashion wash across the shores of analysts, journalists and institutions alike. Quite amazingly most of them are wrong. If there is one tip about predicting the oil markets it is this: donCurrently the average price of oil […]

How Far Down the Rabbit Hole

As population rises, carrying capacity drops. What is For the 6.4 billion humans in the 21st century, oil resources will define that capacity quotient. Noted Geologist Walter Youngquist said,

The Oil Drum: Hurricanes increase driving, gas prices decrease it

So the Federal Highway Administration has been catching up, after a long hiatus, and now has put out October numbers as well as September numbers for vehicle miles traveled. This allows us to see that the combination of hurricanes and high gas prices had an effect, with miles dropping 1.6% from October 2004 to October […]

The struggle against ourselves

We are faced with an impending shortage of the source of energy which is hardest to replace – liquid fossil fuels. And we are faced with the environmental consequences of the fossil fuel burning which has permitted us to be standing here now. The structure, the complexity, the diversity of our lives, everything we know, […]

Ukraine gas dispute with Russia raises supply fear

Even through the break-up of the Soviet Union and crises that followed, Russia’s gas exports to Europe, 80 per cent of which transit Ukraine, have always been reliable. But unless Ukraine agrees to pay much more for the gas it takes from the pipeline for its own use – Moscow first asked for roughly a […]

Shell seen clinching loan for Sakhalin

Royal Dutch Shell will likely secure a loan from the European Bank for Reconstruction and Development (EBRD) for its Sakhalin-2 oil and gas project off Russia’s Pacific coast, environmentalists and analysts say, but the real prize Shell seeks is not cash. .. Shell’s main aim is to win an environmental stamp of approval from the […]

The Warning of Peak Oil

The ramifications of Peak Oil will be immense. We will need to push for a global oil depletion protocol so that the world’s remaining oil can be shared equitably without warfare. We will need a new ethic of cooperation and sharing to find new ways of relating to each other as neighbors and citizens. The […]

White Nile set to start drilling for oil in Southern Sudan

White Nile, the AIM-quoted company chaired by former Middlesex and England cricket star Phil Edmonds, expects to start drilling for oil in Southern Sudan early in 2006. ..Although Southern Sudan is not exactly the most stable part of Africa, progress has been made since the January peace treaty. A new constitution for Southern Sudan was […]

Oil companies and the Niger Delta

Government has reaped an estimated US$280 billion from oil in the past 30 years, the Delta communities have seen precious little of the revenue. But analysts say the average Nigerian has little to expect from an expected boom in oil production next year. ..Speaking to ISN Security Watch last week from Nigeria’s capital, Abuja, Action […]

Shell delays Nigerian oil exports after attack

Royal Dutch Shell has been forced to delay shipments of its premium quality Nigerian oil following a pipeline attack in the southern Delta that cut output and killed at least eight people. Shell’s act of force majeure, a technical release from honouring contracts, is expected to delay delivery of more than 300,000 barrels per day […]

Foreigners May Soon Play a Part in Kuwait Oil

Thirty years after foreign oil companies were expelled from Kuwait, the state is close to opening its lucrative oil production business again to outsiders. … Years of underinvestment in Kuwait have led to slowing output since the 1970’s. Kuwait oil officials argue that they need the help of global oil companies to manage the more […]

China and OPEC start energy dialogue

China and the Organization of Petroleum Exporting Countries ( OPEC) started an energy dialogue aimed at ensuring a steady supply for the world’s fastest growing energy user, officials said. yahoo

European Union Takes Action to Accelerate Biomass Energy in 2006

Green Energy Resources (OTC: GRGR) cited industry reports measuring growth forecasts of biomass renewable energy for 2006 and beyond. The reports projected growth, size, and momentum of wood biomass in the renewable energy industry. The forecasts, in conjunction with new European Union actions to accelerate biomass power generation, provide strong evidence of a rapidly expanding […]

Stirling Engine Solar Power Contracts Approved

An unprecedented deployment of concentrated solar thermal in California took one step closer to becoming a real project this week as state regulators gave their approval for the power purchase agreement. Completion, however, will hinge on other factors, including construction of a new proposed 100-mile long, high capacity transmission line that could cost as much […]

Pickens, Still Predicting Drop in Prices, to Keep Energy Stocks

Boone Pickens, the Dallas hedge fund manager who forecasts a drop in oil prices next year after predicting 2005’s rally, said he plans to retain his favorite energy stocks because he expects demand to remain strong. Those equities include Calgary-based Suncor Energy Inc., Canadian Oil Sands Trust, EOG Resources Inc. and Quicksilver Resources Inc., Pickens […]

Putin addresses Russian Security Council on energy issues

Russia must use its advantages on the energy market to benefit the international community without compromising national interests, President Vladimir Putin said at a session of the Russian Security Council Thursday. “Russia values its reputation as a respectable, reliable, and responsible partner on the energy market,” Putin said. “Our country has emerged as the leading […]

Energy Impact on Global Economy Is Understated

The energy shock to economic growth will be felt worldwide through the increasing global imbalance between high investment and low consumer spending, according to an analysis by The Conference Board, the global research and business membership organization.     The steady rise of global commodity prices since 2002 has been led byspiraling oil prices. There have […]

Gas in Britain most expensive wholesale fuel in the world

As outdoor temperatures start to plummet, gas prices appear to be heading in the opposite direction. Gas in Britain is now the most expensive wholesale fuel in the world — even more costly than oil. The price of gas for businesses reached gasandoil

Venture Capitalists Embrace Solar Energy

When Rusty Schmit landed his first job 25 years ago as an engineer for Motorola Inc., he was given a choice: specialize in weapons or solar power.”I thought about it for a nanosecond and chose solar,” he said, adding that the writings of militant conservationist Edward Abbey wjla

GreenShift’s Mean Green BioFuels Announce 30 Million GalBiodiesel Plant in NE In

GreenShift Corporation portfolio company Mean Green BioFuels Corporation Dec. 22 announced its plans to build a 30 million gallon per year biodiesel production facility in north-eastern Indiana. The new Indiana facility will be one of five such facilities that Mean Green intends to build, own and operate commencing in 2006. grainnet

Mazda to Begin Leasing RX-8 Fuel Cell Powered Car at Beginning of 2006

Mazda is to begin leasing the RX-8 fuel cell powered car at the beginning of next year. The Japanese automaker said that the car will utilise a duel-fuel engine technology dubbed RENESIS, which would make use of both petrol and hydrogen fuels. The rotary powertrain injects hydrogen into the engine directly using an onboard electronic […]

Tax breaks for China’s agri, oil projects

China said it will offer tax breaks and loans to industries such as agricultural production, oil and gas exploration and coal mining, particularly focusing on environmentally-friendly projects. The National Development and Reform Commission will classify industries that are to be “encouraged”, “restricted” or “to-be eliminated”, the top planning body said in a statement here today.. […]

The Oil Drum: A Plot of IEA global production with November’s data

Here’s the latest plot of average monthly oil production from various estimates. Click to enlarge. Believed to be all liquids. Graph is not zero-scaled. Source: IEA, and EIA. The IEA raw line is what they initially state each month. The IEA corrected line is calculated from the month-on-month production change quoted the following month. Overall, […]

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