The Oil Drum: Updated Oil Supply Charts and Graphs

Herewith an update on the supply situation. I briefly touched on recent declines in Saudi Arabian production the other day. The global supply situation is as above. Essentially, the situation has not qualitatively changed since I last discussed it. The two agencies I track (the US EIA and the OECD IEA) are at increasing variance […]

Post-peak pessimism: Looking for new tools

…”If you believe that the future is just more of the same, a long highway climbing, uninterrupted, all the way to the horizon, then you are right; you’d better have a good job, health insurance, a 401k plan, and a college fund for the kids. You’d better know how to navigate corporate politics, the stock […]

Latin American oil: past and future

2005 was a bumper year for Latin American oil production. According to BP Almost 40 percent of Latin American oil production, almost 4 million barrels per day, are currently exported out of the region, mostly to North America. The exported share varies by country. Mexico for example exports more than half of its production, while […]

Itera’s Regional Director Murdered Outside Office in Central Russia

Alexander Samoylenko, who led a branch of Russia’s largest independent gas producer Itera, was shot and killed as he left his office in the central Russian city of Samara, police said. Samoylenko was the director of Itera’s Samara operations. He and a colleague were gunned down by automatic weapons as they left the office at […]

Nuclear Power Revival Could Encounter Hurdles

Tight Uranium Supplies, Scarce Processing Facilities May Hurt Bush Energy Plan WASHINGTON — The Bush administration’s plan for a “renaissance” in nuclear power may be crimped by tightening world-wide supplies of uranium and a lack of enrichment facilities to turn the uranium into fuel for power plants. In a recent setback, an accident in October […]

‘Chelsea tractor’ sales hit by tax hikes

LONDON (AFP) – Sales of gas guzzling four-wheel drive vehicles have dropped sharply in Britain amid looming tax increases aimed at fighting air pollution and curbing global warming. The Times newspaper added that the second-hand value of four-wheel drive vehicles — known as “Chelsea Tractors” for the hulking vehicle’s prevalence in the affluent London borough […]

George Monbiot: We need more buses

A better organised, more attractive network could get people around faster, save tonnes of carbon – and cost almost nothing There was one proposal in Sir Rod Eddington’s report to the Treasury with which, when I first read it, I wholeheartedly agreed. He insists that “the transport sector, including aviation, should meet its full environmental […]

EIA: Oil field delays mean higher 2010 crude price

WASHINGTON (Reuters) – The U.S. government’s top energy forecaster on Tuesday said it raised its estimate for world crude prices in 2010 by about 20 percent to near $60 a barrel due to delays bringing new oil fields on line. African producers like Angola and Nigeria and Latin American states like Brazil will be slower […]

Credibly Challenging Iran: A Coordinated Plan to Get Oil Below $40/Barrel

… He stated that American withdrawal from Iraq — despite the growing clamor for that — would yield a complete change in the profile and character of nearly every one of the Middle East’s 22 countries. He said that several governments in the region — outside of Iraq — could very easily “and would probably […]

Slouching toward sustainability

Earlier this week the Cambridge Research Energy Association (CERA) and its high priest Daniel Yergin put out a press release taking Peak Oil theory and its believers to task. In a nutshell, CERA believes that technology will save the day . . . that it will find oil where it can’t be found today, and […]

China: Ethanol output has corn prices popping

For the first time in China’s history, grain prices are rising not due to a poor harvest or increasing demand but because of soaring international oil prices. To feed the nation’s increasing appetite for energy, a huge amount of capital including from overseas is chasing corn, soy and wheat for biofuel production; and pushing up […]

China’s Shenhua to quadruple coal production by 2020

Shenhua Group, China’s largest coal producer and parent of listed China Shenhua Energy, plans to quadruple its annual coal output to 800 mln tons by 2020, the South China Morning Post reported, citing a senior manager. The target indicates an annual growth rate of about 10.4 pct, the Hong Kong newspaper said.The company is on […]

Looking below the surface for tomorrow’s energy

David Yuko, a Kenyan renewable-energy consultant, makes a strong case for geothermal power in developing countries as a far cheaper alternative to large-scale conventional energy systems that require massive investment. “Plants can be built on a modular basis, and can be scaled up as resources become available. Most renewable energy technologies are available at modest […]

Danish study: wildlife hardly harmed by offshore wind farms

Danish energy and environment government agencies have released their findings at the conclusion of an eight-year study on the impacts of the world’s two largest offshore wind farms, Horns Rev and Nysted, on the aquatic ecosystem including birds, fish, seals and benthic life. These findings were released at the Final Results: The Danish Monitoring Programme […]

NATO Prepares For Energy Wars

During the recent NATO summit in Riga, U.S. Senator Richard Lugar urged the alliance to declare that an energy boycott of any member be seen as an act of coercion against all members of the alliance and one that requires a collective response.Lugar’s words at the NATO summit did not go unnoticed in Moscow. Mikhail […]

China Sees Ethanol, Not Methanol, As Oil Option

China is expanding the use of ethanol as an alternative fuel to oil, but is unsure about methanol as the coal-based fuel is toxic and causes pollution, said a member of China’s top bioenergy policy-making panel. A flurry of ethanol projects involving state-run giants, such as China National Petroleum Corp., has spotlighted the boom in […]

Iran replaces dollar with euro in most oil dealings

Iran has started replacing dollar with euro in majority of its crude oil exchanges in the last several months, an informed source with Iran’s Oil Ministry said here on Tuesday. Oil Ministry has taken the policy to substitute dollar with euro, and begun to implement it for most of its oil dealings, the source who […]

A Sea of Oil

Proven reserves of Caspian oil and natural gas amount to 4 percent of the world supply. International Energy Agency analysts estimate that the regions oil reserves may prove to be 20 percent of the world supply. Experts in a U.S. Congress research group note that, besides the size of the reserves, Caspian oil has the […]

New EIA Outlook Reflects Energy Market Shift towards Nuclear, Biofuels,

The Annual Energy Outlook 2007 (AEO2007) reference case, released this week by the Energy Information Administration (EIA), reflects the evolution of energy markets in an era of high prices by projecting growth in nuclear capacity and generation, more biofuels (both ethanol and biodiesel) consumption, growth in coal-to-liquids (CTL) capacity and production, growing demand for unconventional […]

UPI Energy Watch

Global energy security heavily relies on the future of Caspian oil and production, according to the U.N. European Commission Economic report on Global Energy Security and the Caspian Sea Region. The report, which was discussed at 15th Annual Session of UNECE Committee on Sustainable Energy held in Geneva, Switzerland, on Nov. 28-30, assesses the risks […]

Southeast Asian oil output likely to peak by 2013

Oil production in Southeast Asia will reach a peak in 2013 as fewer new fields are found, forcing the region to evaluate its dependence on crude, said Michael Smith chief executive of UK-based consultant Energyfiles Ltd. financialexpress

Invention could solve

Now scientists at the University of Bath have invented a material which stores and releases hydrogen at room temperature, at the flick of a switch, and promises to help make hydrogen power a viable clean technology for the future. fuelcellsworks

Petroleum producers forecast strong oilpatch spending for 2007

Canada’s oil and gas producers will ease off spending in 2007, a move driven by doubts about natural gas prices and several oilpatch giants scaling back growth projections, according to the industry’s main association. CBC

Economy could withstand $90: energy execs

The majority of oil and natural gas executives think that oil prices could rise to $90 a barrel before triggering a global recession, according to a survey released yesterday by Deloitte & Touche USA. gulf-times

Shell upgraded on mega-merger hopes

Cline estimated that $186 billion in value could be created by merging Shell with Total, $183 billion created by merging BP and Shell and $159 billion by linking BP and Total. Any combination would form a company that would dwarf the world’s largest oil company, Exxon Mobil. marketwatch

Shell CEO: ‘The debate about CO2 is over’

The chief executive for Shell berated Washington on Monday for spurning the United Nation’s Kyoto agreement on global warming, saying U.S. backing for a global regulatory framework would create incentives for oil companies to reduce carbon dioxide emissions. yorkdispatch

Renewable Energy Use to Grow Rapidly

Energy markets will shift further toward alternative sources in the coming years, driven primarily by higher prices for traditional fossil fuels and recently enacted public policy, according to a Department of Energy report released Tuesday. yahoo

DJ Iraq War Resistance Bullish For Ethanol, Cash Corn Market

Disenchantment with the US war in Iraq might lead to a political push for greater biofuel use which could conceivably quadruple US ethanol production, a grains export executive said. “The national security picture is a dreadful one. You are facing another 24-36 months of headlines showing more and more Marines being killed by suicide bombers,” […]

The Oil Drum: CFR on ”National Security Consequences of Oil Dependency”

With little media fanfare as of yet, a major report by the political heavyweight think tank Council on Foreign Relations was recently released. “Independent Task Force Report #58 – National Security Consequences of Oil Dependency” paints a somewhat more urgent picture of our energy situation than most other oil and energy research coming out of […]

Malaysian company to produce ethanol from Nypa fruticans

The secret of nipah is its incredibly high sugar-rich sap yield, as it has been observed by several researchers. Fermented into ethanol, the palm’s large amount of sap allows for the production of 15,000 to 20,000 liters of the biofuel per hectare (compare with sugarcane at 5000-8000 liters, or corn, at 2000 liters). And it […]

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