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China’s oil thirst changes global flows
But again, the impact of growth is causing competition as Asian refiners look to diversify crude sources. Asian, North American and European refiners are battling for light crudes, especially from Africa, pushing up price differentials and increasing price volatility, said SG’s Lasserre. (Additional reporting by Jonathan Landreth and Tanya Pang) China’s oil thirst changes global […]
Arabs must invest $1tr in oil and gas. (of an expected 6tr)
The projects will push up the overall output capacity of the 11-nation Organisation of Petroleum Exporting Countries from 31.4 million bpd in 2000 to 38.4 million in 2010, to 44.8 million in 2010 and 60.2 million in 2020
Respite unlikely as fuel hits $1
RACVs government relations manager Mr David Cumming said predictions that the world had reached its peak oil supply and there was nowhere else to find a substantial amount of oil are false
New Material Grabs More Solar Energy
The material could lead to relatively inexpensive, highly-efficient solar cells that would be much simpler to make than today’s high-end multijunction solar cells.
Have We Hit The Oil Peak?
“Civilization as we know it will come to an end sometime in this century unless we find a way to live without fossil fuels.”
Book Review: the coming crisis of a world that’s running out of oil
“Oil depletion is arguably the most serious crisis ever to face industrial society,” writes Roberts, a frequent contributor to Harper’s Magazine.
California May Declare First Gasoline Emergency in 15 Years
It’s about the pipeline breaking but why are the western states in a position where one pipeline breaking will cause chaos? Well not chaos but….
Expo told North Sea future is well oiled
BRIAN Nixon, the director of energy at Scottish Enterprise, yesterday dismissed the prophets of doom and predicted that the North Sea will continue to be an important world producer of oil for decades to come. ScotsmanWhat did Hubbert say about half-exploited reserves? Anyone? His decidedly upbeat appraisal of Scotland
Shoppers Deserting Supermarkets
For financially pressed consumers, it’s coming down to a choice between
spending on gasoline or groceries, and gasoline is winning, a food
industry analysis finds.
Truckers protest jams freeways
LOS ANGELES (AP) – Truckers parked their rigs on a busy freeway Friday, snarling rush-hour traffic for miles in a wildcat protest over high diesel prices.Truckers protest jams freeways By Associated Press LOS ANGELES (AP) – Truckers parked their rigs on a busy freeway Friday, snarling rush-hour traffic for miles in a wildcat protest over […]
WORLD FOOD PRICES RISING
The last time stocks were this low, in 1972-74, wheat and rice prices doubled.
ConocoPhillips Chairman Says Oil Will Last
Archie Dunham, chairman of ConocoPhillips Inc:
“The world can rely on fossil fuels for the bulk of its energy needs for the next 100 years”
Norway Testing New Clean Energy System
The excess power will be used to produce hydrogen fuel so a hydrogen combustion engine and a fuel cell make electricity at windless times.
Renewables: Does A Tried Technology From The Past Still Have A Role To Play?
Except: The somewhat paradoxical result is that now the world
‘Global Epidemic’ of Financial Scandals for Oil Producers
The world is facing an “epidemic” of financial scandals in the oil and mining industries, says London-based NGO Global Witness, citing the billions of missing dollars from resource-rich countries such as Kazakhstan.April 01, 2004 [ 12:36 ] By Clare Nuttall, TCA staff writer, TCA More news on: The world is facing an “epidemic” of financial […]
US SEC Questions Oil Giants’ Reserves
Gheit, who owns some ChevronTexaco shares, said he wouldn’t be surprised if other companies besides Royal Dutch/Shell restate their proved worldwide reserve estimates. He cited El Paso Corp., the natural-gas company in Houston, which cut its reserves by 35 per cent in February. “I don’t think Shell is the only company,” Gheit said. “You saw […]
Commodity prices and the very bullish case for oil
We could see prices of certain commodities double or even treble in a speculative mania. And there is one commodity on which a very bullish long-term fundamental case can be made: crude oil.
Middle East Finance and Economy
Crude Reality: Oil Prices Won’t Plunge
Like every other hydrocarbon producer, OPEC is finding it much more difficult — and costly — to bring additional production to global markets.
Saudis Pledged Oil Price Cut Before U.S. Vote
Saudi Arabia’s ambassador to the United States, Prince Bandar bin
Sultan, promised President Bush the Saudis would cut oil prices before
November to ensure the U.S. economy is strong on election day, journalist
Bob Woodward said in a television interview on Sunday
Energy Outlook May Drive Takeover Wave
Acquisitions are also becoming more attractive as the cost of finding and developing oil and gas climbs, making growth through the drill bit more difficult.
Energy Wars
We remain very positive on the oil and gas sector and view corrections as buying opportunities. Dwindling global supplies of conventional oil, slow development and acceptance of alternative forms of energy, high costs needed to tap into unconventional sources and instability on the geopolitical front that will ensure that energy wars remain at the forefront well into the 21st century. Stocks in the sector should continue to be a major part of portfolios. “Crude Ken’s” picks are listed below.
Oil and Gas Blues
In the past 10 to 15 years the General Accounting Office and the Interior Department’s inspector general have issued report after report detailing abuses in the overall management of federal oil and gas resources amounting to tens and perhaps hundreds of billions of dollars.
Yet nothing has been done to stem the flow of funds that should rightfully be going to taxpayers, including tribal members.
Upcoming Webcast
IPAA Oil and Gas Investment Symposium – New York, NY
Date: Wednesday, April 21, 2004
Time: 1:25 pm Mountain Time (3:25 pm Eastern Time)
Report: Oil Will Cost $51/barrel by 2025
The report by the DOE’s Energy Information Administration said strong economic growth in Asia will drive world energy prices in the next decade. The developing world’s demand for energy will nearly double by 2025 with oil, coal and natural gas leading the way.
The Situation Looks Brighter For Alternative Energy Producer Alkane
Things do seem to be coming right for Alkane Energy, the international green energy company which designs, manufactures and operates specialist methane capture and utilisation technology for the safe, efficient and environmentally beneficial use of this gas.
North Sea Rig Utilization Makes First Improvement Since November
North Sea rig utilization jumped to 70% in March from 65.7% in February, according to Platts North Sea Letter data, the first increase in activity since November 2003. The rise reflects much stronger demand in the semi-submersible segment
Petro Promises
…you can’t trust the reserve figures. Both Royal Dutch/Shell and El Paso Energy recently admitted to overstating them; the Securities & Exchange Commission doesn’t even demand that they be audited.
Thicker than Oil
“No Blood for Oil” (never mind the people who drove upscale gas-guzzlers to the rallies at which they chanted such slogans) was supposed to respond to one of two possibilities: American oil companies were either simply going to steal the Iraqi fields, or indirectly prime the pumps to such an extent that the world would be awash with petroleum and the price for profligate Western consumers would crash.
Shell Closes Refinery
“…the FTC said it is evaluating Royal Dutch/Shell Group’s decision to shut down an oil refinery in California, but has not implemented an official investigation.”
The Ledger
Shell has decided to close one of the biggest refineries in California. The company claims closure due to lack of supply, while consumer groups cry conspiracy to jack up fuel prices.
Sf Gate
FTC Says No Collusion Among Oil Companies
“To date, we have identified no instances of collusion between petroleum companies,” said William Kovacic, general counsel of the Federal Trade Commission, in written testimony to the Senate Judiciary antitrust subcommittee.
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LATEST NEWS HEADLINES
- Why the IEA is Wrong About Peak Oil Demand
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- 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
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