Victory: shale oil project collapses

In a world which holds more oil than we can safely burn, why would anyone try to squeeze more out of rocks? And in a world threatened by climate change, why would anyone make a bad fossil fuel even WORSE for the environment by using tremendous amounts of energy to crush the rock and heat it to 500 degrees Celsius

Greenpeace

Venezuela may suspend oil shipments to US

CARACAS, July 21 (Xinhuanet) — The Venezuelan government said Wednesday it may suspend oil shipments to the United States in case of an eventual conflict with that country.

CV

Heating Oil Spike Could Signal Inflation Risk

This means that going into winter the bulk of surplus Russian heating oil will stay in Europe rather than head for the U.S., which in the event of a cold snap in the U.S. could send prices through the roof.

Reuters

Greenspan Says Rates Could Rise Quickly

In his testimony, Mr. Greenspan reiterated his view that recent price increases are mainly a result of “transitory factors,” like higher oil prices.

NYT

US increases scrutiny of oil groups

Mr Dingell said answers to his preliminary inquiries from the Securities and Exchange Commission, the US’s senior financial regulator, were inadequate. “I am . . . underwhelmed, if not outright troubled, by the staff resources and level of review . . . given to these critical matters,” he said.

FT

Oil Price Unlikely to Reach $50/barrel: Kuwaiti Official

most OPEC states, including Kuwait, have investments in industrial countries and revenues of these investments would suffer in the event of unreasonably high oil prices.

RigZone

Natural gas crisis looms, study warns

North America is heading toward an inevitable natural gas crisis that will not end until dozens of liquefied gas plants are built, according to a new study.

Canada National Post

Why 2004 Will Be Remembered as the Year World Oil Production Peaked

Mr. Hubbert, we should have listened. In 1957 M. King Hubbert (1903-1989) predicted in a publication of the American Petroleum Institute, Drilling and Production Practice (p. 17), that the peak of world oil output would come “about the year 2000.”

And it has.

As Richard A. Kerr stated in “The Next Oil Cirisis Looms Large–and Perhaps Close,” Science 281 (21 August 1998): “the gush of oil from wells around the world will peak at 80 million barrels per day, then begin a steady, inevitable decline . . .” (p. 1128).

AoL

China becomes Singapore’s 4th largest market for non-oil exports

SINGAPORE

Oil Prices Dip on OPEC Move

The small decline came even though the Organization of Petroleum Exporting Countries said it had decided on an increase in its production ceiling of half a million barrels a day by August, and also cancelled a July 21 meeting on the issue.

The Street

Nigeria: U.S. Offers Military Help to Protect Offshore Oil

The United States, keen to develop new sources of oil supply outside the Middle East, has offered to help Nigeria protect the flow of oil in the Gulf of Guinea and combat terrorist attacks on the oil industry, officials said.

All Africa

Does Global Warming Affect Oil Production?

The Alaska Department of Revenue noted that this June’s average temperature of 44.3 degrees at pump station No. 1 compares with a three-year average for June of 40.3 degrees. Higher temperatures in summer reduce production because compressors work less efficiently in warmer weather.

ADN

China 40% dependent on crude oil imports as of May

Apparent consumption of fuel oil was recorded at 21.13 mln tons in the period, up 36.48% year-on-year. 13.26 mln tons were imported in the months, up 60% year-on-year. Fear of rolling blackouts has forced some industrial plants to resort to using their backup generators for power supply. These generators burn fuel oil, instead of coal.

Source Link Name Here

China 40% dependent on crude oil imports as of May

Apparent consumption of fuel oil was recorded at 21.13 mln tons in the period, up 36.48% year-on-year. 13.26 mln tons were imported in the months, up 60% year-on-year. Fear of rolling blackouts has forced some industrial plants to resort to using their backup generators for power supply. These generators burn fuel oil, instead of coal.

Source Link Name Here

China 40% dependent on crude oil imports as of May

Apparent consumption of fuel oil was recorded at 21.13 mln tons in the period, up 36.48% year-on-year. 13.26 mln tons were imported in the months, up 60% year-on-year. Fear of rolling blackouts has forced some industrial plants to resort to using their backup generators for power supply. These generators burn fuel oil, instead of coal.

Source Link Name Here

Oil Gone

If peak oil theorists are correct, our dependence on oil is not only foolish, it’s lethal. Does modern civilization have just two choices–change or perish? By R.V. Scheide “No blood for oil!” antiwar activists cried worldwide in the months leading up to the U.S.-led invasion of Iraq in March, 2003. Their pleas fell mainly on […]

Oil Gone

If peak oil theorists are correct, our dependence on oil is not only foolish, it’s lethal. Does modern civilization have just two choices–change or perish? By R.V. Scheide “No blood for oil!” antiwar activists cried worldwide in the months leading up to the U.S.-led invasion of Iraq in March, 2003. Their pleas fell mainly on […]

Oil Gone

If peak oil theorists are correct, our dependence on oil is not only foolish, it’s lethal. Does modern civilization have just two choices–change or perish? By R.V. Scheide “No blood for oil!” antiwar activists cried worldwide in the months leading up to the U.S.-led invasion of Iraq in March, 2003. Their pleas fell mainly on […]

Australian oil production declining fast

Geoscience Australia estimated that,

Wall Street Life: Take an oil price over $40 – then quadruple it

Everyone agrees that we are running out of oil, what no one knows is how quickly. Pessimists say it could only be a few years until we are plunged into bitter darkness, causing a typhoon of war and famine to sweep the Earth.

telegraph

Wall Street Life: Take an oil price over $40 – then quadruple it

Everyone agrees that we are running out of oil, what no one knows is how quickly. Pessimists say it could only be a few years until we are plunged into bitter darkness, causing a typhoon of war and famine to sweep the Earth.

telegraph

Wall Street Life: Take an oil price over $40 – then quadruple it

Everyone agrees that we are running out of oil, what no one knows is how quickly. Pessimists say it could only be a few years until we are plunged into bitter darkness, causing a typhoon of war and famine to sweep the Earth.

telegraph

Why your electric bills are soaring

Interesting article. It goes into the average price people pay for electricity. It also gives a chart on how much electricity each average item in your house uses. We have many products that are in standby mode 24 hours per day so that they start quickly. This uses electricity all the time. MSN A fellow […]

Why your electric bills are soaring

Interesting article. It goes into the average price people pay for electricity. It also gives a chart on how much electricity each average item in your house uses. We have many products that are in standby mode 24 hours per day so that they start quickly. This uses electricity all the time. MSN A fellow […]

Why your electric bills are soaring

Interesting article. It goes into the average price people pay for electricity. It also gives a chart on how much electricity each average item in your house uses. We have many products that are in standby mode 24 hours per day so that they start quickly. This uses electricity all the time. MSN A fellow […]

Someone in Cleveland is paying attention

Skids are Greased for Oil Crisis by Elizabeth Sullivan Sullivan is The Plain Dealer’s foreign-affairs columnist and an associate editor of the editorial pages. From The Plain Dealer via Common DreamsWhen geologists speak of Hubbert’s Peak, they’re not talking mountaintops or hairdos. They’re referring to a time – maybe not so far off – when […]

Review: The Truth about Oil and the Looming World Energy Crisis. C. J. Campbell

I have just finished reading a remarkable little publication on the subject of the immanent peak in oil production and the ensuing energy crisis.

Read my review here

Saddam Hussain, Saudi Arabia and higher oil prices

Now the oil market did sink under the weight of this speculation for a brief period last month. But all the signs are that the fundamentals are already back on top, and oil prices are going higher. Indeed, we may be approaching times when $40 a barrel is going to be considered cheap.

AME

Saddam Hussain, Saudi Arabia and higher oil prices

Now the oil market did sink under the weight of this speculation for a brief period last month. But all the signs are that the fundamentals are already back on top, and oil prices are going higher. Indeed, we may be approaching times when $40 a barrel is going to be considered cheap.

AME

Saddam Hussain, Saudi Arabia and higher oil prices

Now the oil market did sink under the weight of this speculation for a brief period last month. But all the signs are that the fundamentals are already back on top, and oil prices are going higher. Indeed, we may be approaching times when $40 a barrel is going to be considered cheap.

AME

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