US developers see hope in abandoned oil wells

“The US sits on 3 per cent of the world’s proved oil reserves and accounts for more than a fifth of global consumption, making nonsense of the “energy independence” stances of both presidential candidates. But it has spare oil a-begging.” The most interesting part is tucked away in the last couple of paragraphs… Developers like […]

PdVSA’s Rodriguez: Oil Prices Won’t Decline Until 2Q ‘05

RIO DE JANEIRO (Dow Jones)–The president of the world’s fifth biggest oil exporter, Petroleos de Venezuela SA (PVZ.YY), or PdVSA, said Wednesday that he doesn’t expect oil prices to fall before the second quarter of next year. 10-06 12:28: PdVSA’s Rodriguez: Oil Prices Won’t Decline Until 2Q ‘05 DJ PdVSA’s Rodriguez: Oil Prices Won’t Decline […]

Planet under pressure – BBC Online

BBC News Online’s Planet under Pressure series takes a detailed look at six areas where most experts agree that a crisis is brewing: Food: An estimated 1 in 6 people suffer from hunger and malnutrition while attempts to grow food are damaging swathes of productive land. Water: By 2025, two thirds of the world’s people […]

We Did it! – by Michael C. Ruppert

Latest News at FTW The G7 Admit They Have No Idea How Much Oil is Left and That Speculation is Not the Problem. FTW

How U.S. Oil Is Moving Into Iraq

From Rigzone: “While very few people were paying attention, ConocoPhillips has a chance to become the first U.S. company to do business in post Saddam Iraq. To be sure, the situation is tenuous, and speculative. But it is an ingenious ploy, that could well pay off in the intermediate future, and become a business model […]

Has Production Peaked?

In his paper “Big Geology for Big Needs,” published in the February 1964 AAPG BULLETIN, A.I. Levorsen projected total United States oil demand of 22 million barrels per day in 2000, with U.S. oil supply of 14 million barrels per day (see figures, left). Levorsen’s demand number appears remarkably accurate, only slightly higher than current […]

The Oil Bubble: Set to Burst?

From the braintrust of political intellegence…the National Review’s take on rising Oil prices. Read and fire away… —————————————– “Oil prices have soared from $32 a barrel at the beginning of the year to an all-time high of $50 a barrel at the end of September largely on the fear of supply outages stemming from terrorism […]

As Reservoirs Recede, Fears of a Water Shortage Rise

“They’ve never had to face a shortage of this consequence,” said Pat Mulroy, head of the Southern Nevada Water Authority that supplies Las Vegas, one of the most river-dependent cities in the Colorado basin. “When you’re right up against it and facing the possibility of inadequate supplies to municipalities or farmers or jeopardizing recreation values, these are very tough choices.”

Yahoo

Oil prices prop up dictators

Snow Says High Oil Price Creates `Economic Headwind’ to Growth

Shortage of the political will

According to House Resources Committee Chairman Richard W. Pombo (R-CA) said. “Washington has a shortage of the political will required to let American workers go get it. We have not increased domestic supply in thirty years. As a result, our dependence on foreign oil has skyrocketed to the point where we are sending $200 billion […]

Oil Drawing Hedge Funds

Oil could hit $60 a barrel as hedge funds gear up to return to the only major asset market currently offering the strong fundamentals, clear trading direction and speculative scope they love.

Reuters

Nothing OPEC can do to bring oil down – Purnomo

Indonesian President and Oil Minister Purnomo today states in a short piece from Reuters: “”At the moment there’s nothing we can do. OPEC has spare capacity, however, whatever we do there is no sensitivity in the market”. He further asserts without elaboration that “OPEC has the ability to add output. There is around 1.5 million […]

The Peak Oil Debate: Crisis Or Comedy?

Matt Simmons Presentation – VIEW THISSimmonsco

Dubai builds for a future when oil supplies run dry

From FT: “Its decision in 2002 to allow foreign ownership of property did not make every Emirati Arab happy. Already the tiny local population is outnumbered in the UAE by four to one. But it was deemed a vital step in securing a future for Dubai when the oil runs out in 2010.”FT

SPE: Saudi Aramco aims at sustained deliverability

Contrary to recent speculation about an imminent sharp decline in Saudi Arabian oil production capacity, Nasen G. Saleri, manager-reservoir management of Saudi Aramco, told participants at the Society of Petroleum Engineers Annual Technical Conference and Exhibition in Houston Monday that Saudi Aramco is pursuing a strategy of maintaining low depletion rates in its fields of […]

How high will oil prices go?

One camp believes that while short-term disruptions will continue to produce price spikes, the world still has plenty of oil. But the other camp argues that oil production is near The reasons for the recent relentless rise in crude oil prices are pretty straightforward

Oil price hits $US50 a barrel!

Crude oil futures hit $US50 in electronic after-hours trade in New York, setting a new record as supply worries intensified. In regular trading the November benchmark contract for light sweet crude on the New York Mercantile Exchange rose 76 US cents to $US49.64 a barrel, the highest closing price in the 21 year history of […]

Doomsayers stir debate on future of oil

Campbell and Lynch duke it out in this registration/BugMeNot requiring article.

Baltimore Sun

Scrap tires to be used as fuel in Cement Production

Scrap tire usage as an alternative fuel source to coal is expanding further in the cement industry. In 2003, of the 290 million scrap tires generated in the United States, 80% went to an end-use market. The largest single market for scrap tires was tire-derived fuel (TDF). Accordingly, a total of 129 million tires

OPEC loses influence on oil prices

“OPEC is no longer able to impose a balance on the market, on which the cartel has lost its influence because it no longer has the spare production capacity”

Aljazeera

Bush offers loans from oil reserve to help refiners

the Bush administration offered to tap the nation’s emergency stockpile of crude on behalf of refiners whose supply was disrupted by Hurricane Ivan. It would be the first time the government loaned oil from the Strategic Petroleum Reserve in almost two years.

Star Tribune

The world eyes Iraqi oil – The Straits Times

EARLY in the Gulf War II campaign, the Arab world’s most widely circulated view was that the Anglo-Saxons wanted to grab Iraqi oil. Many Iraqis still believe this, but the theory gets much less attention these days abroad: Insurgent attacks are making oilfields far less attractive to oil companies. http://straitstimes.asia1.com.sg/commentary/story/0,4386,274159,00.html

Can technology help find oil fast enough? – MSNBC

Debate over ‘peak oil’ turns on industry advances BELLAIRE, Tex. – Youhttp://msnbc.msn.com/id/6072980/

Crude Falls on Speculation U.S. May Loan Refiners Strategic Oil

Sept. 23 (Bloomberg) — Crude oil fell from a record high in London on speculation the U.S. may use oil from its emergency stockpiles to keep refineries running after Hurricane Ivan curtailed supplies from the Gulf of Mexico.

http://quote.bloomberg.com/apps/news?pid=10000086&sid=aQ7Mk612O.qk&refer=news_index

Shell Oil betting on higher oil prices in the future

Troubled Shell puts faith in high oil price for recovery By Carl Mortished, International Business Editor SHELL, the beleaguered oil giant, is pinning its hopes for recovery on long-term high oil prices. In its first strategy presentation since the reserves scandal, the Anglo-Dutch company set out an aggressive plan to rebuild its reserves with more […]

Tough choices for oil companies in effort to head off global capacity crunch.

“There is a serious danger that short-termism, driven by the demands of the stock market, may prove seriously damaging to the oil consumer”

Financial Times article today by Carola Hoyos on the stark choices facing oil companies if a “global capacity crunch” is to be avoided. Financial Times Print Edition, Wed., Sept. 22, 2004. Full page article on p.11.

http://news.ft.com/cms/s/2fc60b80-0bfc-11d9-8318-00000e2511c8.html

Summary of Weekly Petroleum Data for the Week Ending September 17, 2004

From DOE: “At 269.5 million barrels, U.S. crude oil inventories are well below the lower end of the average range for this time of year.”http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/current/txt/wpsr.txt

Saudi, Iran, Kuwait Oil Capacity to Rise by 1 Mln Barrels a Day

From Bloomberg: “Saudi Arabia’s capacity will rise to more than 11 million barrels a day next month after Aramco completes the development of the Qatif and Abu Safah oil fields, the country’s oil minister, Ali al-Naimi, told Bloomberg in Vienna on Sept. 15.”http://quote.bloomberg.com/apps/news?pid=10001099&sid=a8XgnfXjWj50&refer=energy

The greenest house on the block

The Rose House is the smallest project Clark Brockman has worked on, and he also considers it the most exciting. The unassuming little house on Northeast Ainsworth Street is just 800 square feet, but it incorporates technologies that thrill architects like Brockman. From its staggered-stud frame to its solar water heating system, the Rose House […]

« 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