U.K. Factory Prices Rose in May on Surging Oil Costs

A surge in petroleum product prices accounted for more than two thirds of May’s monthly increase as crude oil hit a record high. Rising demand for British goods is allowing businesses to pass on higher costs. Manufacturing output grew at the fastest pace in more than 1 1/2 years in April.

Bloomberg

New Terror Tactics In Saudi Arabia

(CBS/AP) Al Qaeda militants are claiming responsibility for a campaign of violence in Saudi Arabia designed to destabilize the country and the world oil markets.

CBS

Gas Prices See First Drop of Year

A boost in gasoline production and a dip in oil prices have led to the first nationwide drop this year in gas prices at the pump, an industry analyst said Sunday.

Forbes – AP

Take an oil price over $40 – then quadruple it

This week there was a Peak Oil conference in Berlin, a gathering of worrywarts wearing metaphorical “we are doomed” placards.

One unusual attendee was Fatih Birol, the chief economist of the International Energy Agency, who gave a speech saying that everything is fine, before admitting afterwards to a BBC reporter that everything is not. “This is not for the press,” he said, after blurting out that the Saudis need to increase supply by 3m barrels a day to avert an oil crisis by the end of the year.

UK Telegraph Group

Airlines Scrimp to Cover High Fuel Costs

American Airlines is carrying less emergency fuel, United Airlines is slowing flight speeds and JetBlue is using one engine instead of two to taxi down runways. Faced with skyrocketing oil prices, the nation’s airlines are looking at every which way they can to trim their fuel bills and survive another threat to the industry. Soaring […]

GPM Exclusive Interview: Dr. Colin Campbell after ASPO 2004

Global Public Media brings you a new interview with Colin Campbell filmed on 27th May 2004 after The APSO 2004 Conference.

Colin speaks with Julian Darley about The ASPO 2004 Conference, the Rimini Protocol, Shell and Saudi Arabia and IraqVideo, MP3, and transcript are available at:

http://feature.globalpublicmedia.com

Help enable Global Public Media to continue bringing you the latest audio and video on Peak Energy by becoming a member.

Letter from Julian Darley:
http://www.postcarbon.org/index.php?page=letter.2004-06-11

Nigeria unions suspend strike

“LAGOS, Nigeria (AP) — Labor groups representing millions of Nigerian workers abandoned a crippling three-day general strike Friday, ending a protest that had shut down businesses and threatened oil exports from Africa’s petroleum giant.”

CNN

Shell may be forced to quit Nigeria

Shell ‘Could Quit Nigeria’

Royal Dutch/Shell could be forced to leave Nigeria by 2008 because of violence in the oil-producing Niger Delta region, a study funded by the group shows.

The study, conducted by a team of experts on the region, also found that Shell inadvertedly fed the conflict in the Niger Delta.

ananova

Two Are Said to Tell of Libyan Plot to Kill Saudi Ruler

New York Times
By PATRICK E. TYLER
Published: June 10, 2004
Associated Press

Nigerians Go on Strike Over Fuel Prices

“The strike, which began Wednesday, threatened oil exports from Nigeria, Africa’s largest producer.”

DULUE MBACHU Associated Press

Raise Energy Awareness with The END of SUBURBIA

The Post Carbon Institute is conducting a worldwide campaign to raise the awareness of peak oil and gas, and the implications for industrial society and the American way of life that is being adopted globally. The campaign is empowering concerned citizens to organize screenings of the new do*****entary “The END of SUBURBIA: Oil Depletion and […]

Secret winners in the oil crisis

“Many investors believe this could happen. Crispin Odey of Odey Asset Management the big London-based hedge fund, said last week that he expected the oil price to hit $80 a barrel. ”

The Times

After the Oil Runs Out : Oil Production might soon peak. Then what?

“If you’re wondering about the direction of gasoline prices over the long term, forget for a moment about OPEC quotas and drilling in the Arctic National Wildlife Refuge and consider instead the matter of Hubbert’s Peak.”

Axis of Logic

END of SUBURBIA Producer, Barry Silverthorn, Coming to California June 21-27

“Peak Oil is the story of the decade. And virtually no one was talking about it…I instantly recognized an opportunity to present some very complicated ideas in a very visual way that most of us could relate to” – Barry Silverthorn Barry Silverthorn will be in California from June 21st through June 27th to promote […]

Russia: Oil production to be flat in 2005

Russia’s oil production will probably stay flat or even drop in 2005, a top Russian energy official said Friday.

Seattle Post-Intelligencer

What’s next for oil?

Since things seem to have reached some sort of crossroads, it’s at least worth trying out a few possible scenarios for the way prices could develop.

BBC

Halliburton Iraq Oil Contract Under Fire

A Pentagon spokesman said Waxman’s claims were “untrue” and insisted the contract was approved by army legal officers. The contract to oversee Iraq’s oil infrastructure was granted in March 2003 to Halliburton’s Kellogg Brown & Root division.

RigZone

Inflaming the oil crisis

“Today’s less dynamic economy is a cause of less rapidly growing oil consumption, rather than its consequence. As long as we feel guilty about improving our lives, energy will always seem to be a problem. But running out of oil isn’t something we need to worry about.”

Spiked-risk

Crude Oil, Gasoline Plunge as OPEC Pledges to Boost Production

““This decision is disappointing because 2 million barrels a day doesn’t even cover what OPEC is actually pumping now,” said Chris McCormack, a broker with ABN Amro Inc. in New York.

As OPEC members are already producing above their limits, the increase in quotas may add only 800,000 to 1 million barrels a day of crude oil to the world market, said Kuwait’s minister, Sheikh Ahmad Fahd al-Ahmad al-Sabah. ”

Bloomberg

Car owners turning to vegetable oil as cleaner, cheaper fuel alternative

Vegetable oil is becoming so popular that a Massachusetts company called Greasecar is buying it in bulk from a distributor and selling it to local customers. It’s priced at 90 cents a gallon, said company founder Justin Carven.

MLive – Associated Press

The Future of Oil

A recent rise in gas prices has refueled debate over the long-term use of oil as an affordable energy source. Jeffrey Brown gets perspectives from Paul Roberts, author of a new book titled “The End of Oil,” and Daniel Yergin, author of “The Prize: The Epic Quest for Oil, Money and Power.”

PBS Streaming Video

US invaded Iraq to protect the Dollar from OPEC and Euros

This information about Iraq’s oil currency is not discussed by the U.S. media or the Bush administration as the truth could potentially curtail both investor and consumer confidence, reduce consumer borrowing/spending, create political pressure to form a new energy policy

ratical.org

Saudi’s Missing Barrels of Oil Production

World oil supply has almost certainly peaked, but the mass acknowledgement of its imminent effects has not happened yet. So, in the eyes of the business sectors and the American public, Peak Oil isn’t really here yet.

From the Wilderness

Japan looks at Iraq oil venture

The move is part of resource-poor Japan’s strategy of seeking stable oil supplies after Arabian Oil was forced to give up major drilling rights in the Khafji oil field in the Neutral Zone between Saudi Arabia and Kuwait in 2000.

CNN

N.Y. Crude Oil Falls From Record on Calls for OPEC Output Rise

“OPEC has indicated that they’ll increase quotas by about 10 percent, but they don’t have a tremendous amount of extra capacity,” said Kurt Hallead, an analyst with RBC Capital Markets in Austin, Texas. “The Saudis can increase production by 2-to-2.5 million barrels but everyone else has the ability to do a fraction of that.”

Bloomberg

Saudi Arabian Oil

NPR’s Steve Inskeep talks to Robert Baer, a former CIA agent who worked in the Middle East. They discuss potential future terrorist attacks on Saudi Arabia’s oil infrastructure. Over the weekend, armed militiamen killed 22 workers at a compound in the Saudi city of Khobar. Baer is the author of upcoming book Sleeping With the Devil: How Washington Sold Our Soul for Saudi Crude.

NPR – Audio

As prices hit the roof, oil wars will keep burning

In the end, oil is not just another commodity as coffee, cocoa or orange juice which responds simply to supply and demand. It is a “strategic” commodity governed by politics, the economic needs of the countries producing it, which are high, and the price paid for it, which can depress world economy if it is too high. This is a very difficult mix. The sort of china shop where bulls should not be allowed. So, fasten your seat belts.

AoL

Thailand Aims To Double Its Oil Production

There is no shortage of activity. In 2002/2003 268 wells were drilled, with oil in 36, gas in 115 and both oil and gas in 69. The government is also keen to open promising new areas to exploration, hence the award in the 18th licensing round of a number of concessions close, or adjacent to existing oil finds.

OilBarrel.com

Oil On Fire: The

As long as the government regulates the price of oil products, as long as the government has a political need to satisfy the farming and the agri- cultural community and the large sections of the Indian population who are poor and have to use kerosene for their fuel, the domestic pricing of oil products will remain a major dilemma for the government.

Indian Express Newspapers

Latest al-Qa’ida attack puts Saudi oil industry in question

Despite assurances, analysts are likely to be wary for some time to come

more

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