New research to help guarantee future of oil supplies

Scientists at the University of Liverpool are working with leading oil companies to further understanding of the nature of oil and gas reservoirs within deeply buried submarine channels.Professor Stephen Flint and Dr David Hodgson, from the Department of Earth and Ocean Sciences, have been awarded ..Professor Flint added: “It is important that new and efficient […]

Regional demand set to fuel Malaysia’s oil and gas sector

Malaysia’s oil and gas industry is poised to grow further in 2006 as regional demand for energy soars, with crude oil and gas output expected to increase 4.2 per cent and 7 per cent respectively during the period. ..This is partly attributed to the fact that Malaysia is emerging as a focus area for multinational […]

Norway confirms promising oil find

Norwegian authorities on Thursday confirmed a promising oil and natural gas find in the Barents Sea off the country’s northern tip… “The find can have great significance for future exploration in the surrounding areas of the Barents Sea,” the directorate said in a statement.BusinessWeek

Former oil chief cool on biofuel

The former chairman of oil giant Royal Dutch Shell has cast doubts on growing food crops to produce biofuels, saying organic municipal waste and straw may be a cheaper and more environmentally friendly source. Lord Oxburgh said many of the crops being touted by farmers as providing the fuel of the future were far from […]

EU draws up Adriatic gas plan after Russia-Ukraine fiasco

The EU might build a new gas pipeline on the Adriatic Sea coast in order to ease reliance on Russia following the Russia-Ukraine gas dispute. Hungarian economics minister Janos Koka told news wires about the plan following a meeting of EU energy experts in Brussels on Wednesday (4 December). EU Observer

The Oil Drum NYC: NY Moves Away from Oil

In George Pataki’s final State of the State address, and perhaps his opening speech of his 2008 presidential bid, he talks about oil dependence: Let’s envision the New York State the next generation will inherit from us – let’s consider the limitless potential the future holds for the great State of New York. [snip]We don’t […]

Population size ‘green priority’

Solving the Earth’s environmental problems means addressing the size of its human population, says the head of the UK’s Antarctic research agency. Professor Chris Rapley argues that the current global population of six billion is unsustainably high. Professor Rapley, Director of the British Antarctic Survey, acknowledges it is a thorny question, invoking the spectre of […]

The Oil Drum: Refining the Plateau

Let’s continue with the discussion of the production plateau since last year that we first discussed at Thanksgiving, and then resumed just before Christmas. If you aren’t sick of it yet, the phenomenon we are seeking to explain is what looks to be like an empirical peak in oil production…(lots of graphs and such in […]

Ford’s junk rating cut further

Standard & Poor’s (S&P) has slashed the debt ratings of Ford once again, pushing the US carmaker even further into “junk” territory. S&P said the move reflected a drop in Ford’s market share and fears over whether it would be able to reinvigorate its US business.The US credit rating agency’s decision came a day after […]

UK Oil Production Down 12.8%

* Total indigenous UK production of crude oil and NGLs in the third quarter of 2005 decreased by 12.8 per cent compared with 2004 to 19.3 million tonnes. Seven new fields started production after September 2004 but production from these fields was insufficient to make up for the general decline in production from older established […]

Insurer takes bet on hybrid owners

Travelers, 4th largest US property and casualty insurer, gives 10 percent discount to hybrid owners. Are tree-hugging, middle-age owners of hybrid vehicles a better risk than drivers of ordinary autos? St. Paul Travelers Companies Inc. is betting they are. Travelers, the fourth largest property and casualty insurer in the United States, is giving a 10 […]

Italy’s Eni finds oil and gas in Arctic field

Italian energy group’s Eni (ENI.MI: Quote, Profile, Research) has discovered oil and gas at its Goliat prospect in the Norwegian sector of the Arctic Barents Sea, energy officials and the company said on Thursday. “Hydrocarbons were found in three different levels of sandstone…,” the Norwegian Petroleum Directorate (NPD) said in a statement, which confirmed earlier […]

Hurrah for prosperity

“Oil’s well” Egelton whooped about Alberta’s long-range economic outlook. “A gusher of activity in the energy sector has Alberta on a roll … fuelled by high prices and development of the oilsands.” And he listed all the advantages of being Canada’s energy province when oil and gas is on a roll – the fastest growing […]

Allies wink, nod at U.S. aims abroad

And then, next to Iraq, there is our “ally” Saudi Arabia sitting atop about a quarter of the Earth’s known petroleum reserves. On the one hand, it would do the Saudi royal family no good to see Iraq degenerate into a terrorist-filled Lebanon on its border. Yet, the Saudis also tire of the busybody Americans […]

US ‘05 Oil Demand -0.3% vs Year Ago At 20.668 Million B/D: EIA

In a year that saw the highest ever U.S. oil prices on a nominal basis, oil demand dipped by 60,000 barrels a day, or 0.3%, to 20.668 million barrels a day, preliminary government data released Thursday show. The slim decline was the first since 2001 and the most since 1991, data from the Energy Information […]

Food for Thought and the Price of Food

It may seem to many that we are living in a period in which there are potentially insurmountable problems facing us on every side. Certainly the world is on the precipice of a population explosion that we will be unable to sustain. The consumption of our natural resources and the destruction of our environment continue […]

Leaders ignore oil depletion

The author of The Empty Tank, Jeremy Leggett, is no lightweight. A former oil geologist with a PhD from Oxford, he has spent more than a decade urging the world to focus on global warming. He begins his new book with a detailed explanation of why petroleum companies haven

S. America Plows Biodiesel, Ethanol Crops

Backed by Don Mario, an Argentine seed company, Defferrari has developed what he hopes is a bit of methadone for global oil addiction: a localized way for soybean farmers to turn part of their harvest into homespun fuel. And this entrepreneur is far from alone. Kick-started by high oil prices and talk of peak oil, […]

Cleanpeace.org Declaration of Energy Independence, Security and Sustainability S

Cleanpeace.org’s Declaration of Energy Independence, Security and Sustainability demands new energy policies based on Four Principles that provide a transition from depletable to renewable energy. Declaration empowers people to counter energy industry lobbyists and provides scientific support for them. People from around the world are asked to sign Declaration at http://www.cleanpeace.org/

Govt to Seek Cut in Oil Dependency (Japan)

Japan will seek to cut its rate of dependence on oil as a primary energy source from the current 50 percent to 40 percent or less by 2030 in the wake of an intensifying global race to secure energy resources, sources said Thursday. According to the sources, the Economy, Trade and Industry Ministry will shortly […]

UK Net Oil, Gas Importer as Output Dn in 3Q ‘05

The U.K. was a net oil and natural gas importer in the third quarter of 2005 as supplies of indigenous oil and gas continues to decline at a rapid rate, statistics from the U.K. government’s Department of Trade and Industry showed Thursday. U.K. crude oil output fell 12.8% in the quarter to 19.3 million tons […]

US Bodman Expects OPEC to Continue to Adequately Supply Mkt

U.S. Energy Secretary Samuel Bodman said Thursday he was confident OPEC would continue to meet the needs of the global oil market. “I’ve been pleased that OPEC has continued to provide energy materials to the market and they have worked very hard to satisfy the unexpected increase in demand, in particular, from China and India,” […]

New York Natural Gas Plunges After Unexpected Gain in Supplies

Natural-gas in New York fell below $10 per million British thermal units for the first time since hurricanes devastated Gulf of Mexico production as mild weather caused an unexpected rise in inventories. Supplies held in underground storage rose by 1 billion cubic feet last week, the Energy Department said. It was the first time inventories […]

Latin America takes a step to the left

Argentina’s defiant “no mas” to the International Monetary Fund does more than confirm its painful return from financial ruin. Its repayment yesterday of its debts to the Washington-based lender marks a symbolic rejection of everything the fund represents — the United States, market reforms, privatization, free trade, foreign investment and globalization. The economic tactics used […]

Mining disaster deals a blow to coal industry

Accident could tighten fuel supply, hurt efforts to recruit workers The blast that killed 12 miners in West Virginia has given coal mining a black eye just as the long-stagnant industry had begun turning a profit after decades of red ink. Analysts and industry experts said Wednesday that the disaster, in which the 12 missing […]

The Oil Drum: Can Acts of God and Bush Explain the Plateau We Face?

As you can see in this chart, if the various problems we’ve had over the past couple of years had not have occurred, we would have had more oil and slightly less volatile supply. However, the plateau shape in production doesn’t go away. If anything, it’s a little more pronounced. So I think to argue […]

Upswings and downfalls

Despite rising inflation in the United States, more accommodative monetary policy in the early months of 2006 will accelerate US economic growth. This stronger growth will push international oil prices toward US$100 per barrel by mid-year, causing much higher global inflation and foreign capital flight from the US. With its credibility diminishing, the US Federal […]

Peak Oil and the politics of global solutions

As people become aware of sustainability issues (and especially with peak oil) they almost immediately begin to look at reducing the fossil fuel dependence in their lives, learning to grow their own food, creating forward-looking networks etc. Others also partake in awareness raising, as greater awareness levels could also prove to be a key factor […]

Rebels dynamite another energy pylon

Leftist rebels blew up another power tower in southwestern Colombia Wednesday, leaving 400,000 people without electricity, officials said. The Revolutionary Armed Forces of Colombia, or FARC, began sabotaging infrastructure in Putumayo state over the weekend. Eight oil wells, an oil pipeline, and at least three energy pylons have been blown up with dynamite since Friday, […]

EU Opposes Iranian Move on Nuclear Research

Iran has said it will resume its nuclear research activities next week, despite western opposition. The EU and the United States are demanding that Iran continue to suspend all enrichment-related activities. France has called on Iran to reverse its decision to restart nuclear research after a two-year suspension. France, along with Britain and Germany, has […]

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