The Case for Cheaper Oil

THE SUPPLY SIDE. Evans says that while no one really knows how much oil is in the ground, he believes global supplies are unlikely to run out for at least 100 years. Big companies have proven reserves that are good for 20 years, he asserts. While growth in Asia is sure to push global demand ever higher, Evans thinks that the supply of recoverable crude oil is likely to expand. Here’s why:

BusinessWeek

Winter Weather Warmer in West, Cooler in East

WASHINGTON (Reuters) – Winter weather in the United States, affected by a weak El Nino, will be warmer in the West and cooler and wetter in the South and Southeast, forecasters predicted Thursday. The U.S. East, including the Northeast which is the biggest consumer of heating oil in the world, should get cooler-than-average temperatures, according […]

Obstacle to drilling for oil in ANWAR is removed

A controversial plan to allow oil drilling in Alaska’s Arctic National Wildlife Refuge is likely to move forward now that there will be enough votes in the Senate to push the measure ahead.

By one federal estimate, the refuge holds more than 4 billion barrels of oil ready for the taking.

http://www.usatoday.com/news/nation/2004-11-17-oil-drilling_x.htm?csp=34

Energy firms say price brings issues

Costly oil leads to more cash, but no new sources Despite high oil prices, the mood among energy companies isn’t all jubilation. At least not in public.At consulting empire Deloitte’s annual oil and gas conference in downtown Houston Wednesday, analysts, academics and the occasional CEO hashed out the downside of today’s energy industry. Conference speakers […]

Summary of Weekly Petroleum Data for the Week Ending November 12, 2004

At 292.3 million barrels, U.S. crude oil inventories are in the middle of the average range for this time of year. Distillate fuel inventories fell for the ninth week in a row, dropping by 1.0 million barrels, and remain below the lower end of the average range for this time of year.

EIA-DOE

Oil production up in Russia

RBC, 17.11.2004, Moscow 10:20:14.Production of oil, including gas condensate, amounted to 381m tons in January to October 2004, which was a 9.4-percent advance in comparison to the corresponding period in 2003, the Federal State Statistics Service reported. Crude oil processing gained 1.9 percent to 161m tons. Production of gasoline increased 3.1 percent to 24.9m tons; […]

Will US$ devaluation help energy transition?

But if the USA even cut its oil imports by 20% or 1.3 million barrels/day, then this threat diminishes, and will only come back in autumn 2005. A 20% cut in US oil imports would free up about two year’s oil import growth of the Chinese economy … equivalent to only 4 months growth of […]

WSJ: Global surge in use of coal – backhanded admission of oil peak

Front page article “Global Surge in Use of Coal Alters Energy Equation” describes global trends of coal use as a response to tight supplies. Unattractive but probable oil descent scenario for developing world is now also being seriously considered in the US. Buried in the text are indirect references to oil peak: “We lived in […]

Technology and economists save the world from expensive oil

MSNBC.com The Case for Cheaper Oil $100 a barrel by the end of the decade? Don’t bet on it, argues one analyst, who lays out a cogent argument for sharply lower prices By Steve Rosenbush Business Week Updated: 11:00 p.m. ET Nov. 15, 2004 As a general rule, average folks don’t sit around talking about […]

Viewpoints: Powering the planet

In terms of renewable energy, technically, there is potential for renewables to meet global consumption many, many times over – the trick is to do it economically.

BBC

Energy Markets (i.e. Oil) Remain Compelling

“Short term, many economists think crude oil prices will decline from current levels. A consensus forecast of U.S. economists released this week called for crude oil to fall back into the high-$30 a barrel range next year from the $50 a barrel level we now experience. While the consensus of economists might be right, we think the energy markets will stay stronger than many analysts expect.”

Safe Haven
Interesting is the graph on distilates.

Oil: What’s Russia Really Sitting On?

In its annual statistical survey of world energy, BP PLC (BP ) has recently revised its estimates of Russia’s total proven oil reserves to 69.1 billion barrels, 6% of the world’s total, up from 45 billion bbl. in 2001.
…
This increasing recoverability, and not dramatic new discoveries of oil, explains why Russia’s proven reserves keep shooting up.

BusinessWeek

Skating over the oil issue

More than 60 years ago, in the midst of World War II, those showgirls on roller skates traveling down New York’s Fifth Avenue came to symbolize the optimism of sacrifice during war. Holding a placard stating, “DO YOUR BIT! SKATE TO WORK. SAVE GAS,” the gals in short skirts were more than an advertising gimmick in June 1942. They became a cause for presidential action.

After that 1942 election, President Roosevelt imposed rationing of gasoline as a way to save rubber and oil for the troops. Not that America today needs to go to such extremes as outright rationing.

Star Telegram

Readers Respond: How Do We Prepare for a World Without Cheap Oil?

While we must look for and create alternatives, we do not need to lose competitive advantage in doing so. In fact, the first countries to successfully develop new layers of infrastructure to support and actively use a new fuel will benefit tremendously.

Harvard Business School

Don’t count on a boost from cheaper oil

Not long ago the world economy was apparently threatened by the adverse effects of higher oil prices. Some commentators talked of the danger of recession, or even stagflation. More recently, however, oil prices have come down a bit. Is there now the prospect of a boost to the world economy from much lower oil prices? […]

Liverpool Blackout –

I had read a previous article refering to Electricity output not being able to keep up with demand. That most blackouts occured during peak hour when business and home users were both using electricity. http://tinyurl.com/6yd6x

Change is in air for wind power

Colorado voters have approved an amendment requiring utilities to get part of their electricity from the sun, wind or plant and animal waste. Voters OK measure to require more use of renewable energy Colorado voters have approved an amendment requiring utilities to get part of their electricity from the sun, wind or plant and animal […]

Shell opens first combined hydrogen and gasoline station in North America

Shell Hydrogen (U.S.) opened the first hydrogen dispenser at a retail gasoline station to service a fleet of six fuel cell vehicles from the General Motors Corporation, the companies announced today.

Shell.com

Oil’s doom and gloom scenario is overblown

Higher oil prices are without doubt a substantial drag on global growth, but other factors continue to suggest that the world economy can weather this storm and continue to grow at a trend-like or even above trend rate next year.

Business Report

Heating oil costs forecast to soar 37%

WASHINGTON — Homeowners who heat their houses with heating oil will see their bills jump more than 37% this winter from a year ago, the government said Tuesday in a report that also projected increased costs for all other heating sources.The average heating oil tab will total $1,309 for the October-to-March period, the Energy Department’s […]

Energy: Meeting the Soaring Demand

The first problem with energy is that we are running short of traditional sources of supply. The International Energy Agency says the world will need almost 60% more energy in 2030 than in 2002, and fossil fuels will still meet most of its needs. We depend on oil for 90% of our transport, and for […]

The Great Energy Transition

The National Capital Region World Future Society on November 18, 2004 will host a dinner discussion with prominent futurist, Mr. Robert Olsen, on future possibilities for energy. Current forecasts indicate that within a decade or perhaps two, the 50% point in terms of the world oil reserves will be reached, where we are fast approaching […]

Russia’s Oil Exports Reach Maximum, Decline to Start in 2 Years — Official

Russia has almost reached its maximum level of production, the head of the Russian Union of Oil and Gas Producers, Yuri Shafranik, said on Tuesday, Nov. 9. mosnews.com Russia has almost reached its maximum level of production, the head of the Russian Union of Oil and Gas Producers, Yuri Shafranik, said on Tuesday, Nov. 9. […]

Arctic Melting Fast; May Swamp U.S.

Peak of global oil production is anyone’s guess

Those who believe that depletion of the world’s oil supply is imminent are sometimes derided as Chicken Little-like eccentrics who tell governments, the media, the energy industry and just about anyone else willing to listen that the world is on the front edge of an emergency.

Salt Lake Tribune

Oil That Grows On Trees

Taking oil from trees is an idea as old as history, but today it is done by modern methods for modern purposes. Tree oils now are utilized in the manufacture of paint, food, drugs, textiles and many specialized products that people use nearly every day. – So there is still hope for the ‘optimists’, however […]

Oil price swings shatter market myths

Only a few days passed between record highs at $56 a barrel and the post-election prices of around $48.50. One would think that there had been the removal of at least part of the “terror premium”. Aljazeera.netThere is no let-up in attacks on pipelines carrying Iraq’s oil. But as the oil price began its most […]

Russian Approval of Kyoto pact brings new challenges

Russian President Vladimir Putin’s signing of a bill confirming his nation’s ratification of the Kyoto Protocol marks an important step in the global fight against the warming of the Earth. However, the latest development may well be regarded as limited progress in that the list of participants in the pact does not include the United […]

International Energy Agency accepts Peak Oil

An analysis of Chapter 3 of the World Energy Outlook 2004

Kjell Aleklett, professor in Physics
Uppsala Hydrocarbon Depletion Study Group, Uppsala University, Sweden

ASPO

Ostriches With Heads In The Sand!

What seems finally to have set the alarm bells ringing is the “retirement” from national oil company Saudi Aramco of Sadad l Husseini and his decision to signal at Oil & Money the fragility of Saudi Arabia’s position — exactly the kind of message that the US-supported regime does not want the world to hear. That Simmons has been flagging it in detail seemed to count for nothing — until now.

This is North Scotland

« Previous Page — Next Page »

LATEST NEWS HEADLINES

• Why the IEA is Wrong About Peak Oil Demand
• Did we inadvertently speed global warming?  
• Venezuela’s Oil Monopoly Eases
• Why Germany is Choosing Natural Gas Over Nuclear Power
• U.S. coal-fired electricity generation decreased in 2022 and 2023

• America Cracks Down on Methane Emissions from Oil and Gas Facilities
• Meet America’s Newest Oil Trader Extraordinaire: Joe Biden
• Is It Time To Refill America’s Strategic Petroleum Reserve?
• Oil prices set to end year 10% lower as demand concerns snap winning streak
• What’s Driving America’s New Oil and Gas Boom?
• China’s peak oil demand bombshell eviscerates Danielle Smith’s energy strategy