Investigating phantom barrels in the oil sands

Western Oil Sands Inc. chopped 15 million barrels from the estimated reserves for its part of the Athabasca Oil Sands Project, while its partner Shell Canada Ltd. made no change at all.

Globe and Mail

Do we have to beg for affordable oil?

Such a public plea, from the leading western industrial countries plus Japan, was hardly a show of strength. But in the old days the accompanying news that Saudi Arabia was prepared to raise output to assist western economies would almost certainly have brought instant relief.

Guardian Unlimited

Florida, Louisiana Gas Stations Halt Sales of Bad Fuel

Roughly 600 Shell and Texaco gasoline stations in parts of Florida and Louisiana temporarily halted their sales after customers complained the gasoline damaged their fuel gauge sensors, Shell Oil said Friday. “We’ve asked our Shell and affiliated Texaco branded stations that were affected to stop selling gasoline due to elevated levels of sulfur in the […]

Terrorists are now targeting Saudi Arabia’s oil infrastructure.

several attacks, if co-ordinated by terrorists who have infiltrated Aramco, could cripple the Saudi system…

The Economist

The Peak in U.S. Coal Production

scientist Gregson Vaux presents an original study on US coal reserves which indicates that coal is likely behaving almost exactly like Peak Oil. If his analysis is correct, then coal may itself prove to be a short-lived and illusory solution

From the Wilderness

”Never doubt what Saudi Arabia says..”

By Barbara Lewis and Andrew Mitchell AMSTERDAM (Reuters) – OPEC (news – web sites) on Saturday expressed “deep concern” about rising world oil prices, saying it wanted to cut fuel costs to support world economic growth. By Barbara Lewis and Andrew Mitchell AMSTERDAM (Reuters) – OPEC (news – web sites) on Saturday expressed “deep concern” […]

Big European investment in fusion research.

In terms of the physics and huge amounts of energy involved, the project would be akin to building a star on Earth. BBC EU ‘confident’ of star power site By Jo Twist BBC News Online science staff The Jet machine can produce ’star power’ plasma (right) Europe is still confident that it will be chosen […]

Future Car – Watch Online

Video link to watch these future car special clips by PBS

PBS.org

What lies ahead in global oil crisis

But it leaves very little room for error on the supply side, this year or in the years immediately ahead before the development of alternate sources of energy becomes a reality. As Kenneth Deffeyes points out in his book, “Hubbert’s Peak”: “There are plenty of energy sources other than fossil fuels. Running out of oil […]

Will We Run Out of Energy?

Goodstein depends on empirical findings while ignoring the data that contradicts his argument. He ignores the fact that energy alarmists have always underestimated future oil supplies and he dismisses the possibility of developing vast quantities of unconventional sources of oil.

Mises Institute

RELEASE THE EMERGENCY RESERVES

With crude oil trading above $41 a barrel and terrorism fears helping to inflate the price, the U.S. has quietly continued to fill its emergency reserves to the highest level ever — an amount experts say could be used to bring prices down, Monday’s Wall Street Journal reported.To guard against shortages, the U.S. and other […]

Uppsala Hydrocarbon Depletion Study Group

Colin Campbell and the Uppsala Hydrocarbon Depletion Study Group has now made the 2004 upgrade of the peak oil model. The peak is moved from 2010 to 2008

PeakOil.net

Fluctuating Oil Prices ‘No Cause for Alarm’

N.Y. Crude Oil Rises to Record on U.S. Gasoline Supply Concern

“OPEC members exceeded their quotas by 2.35 million barrels in April and their spare capacity equals about 4 percent of expected global demand in 2004, according to Bloomberg figures.”N.Y. Crude Oil Rises to Record on U.S. Gasoline Supply Concern May 14 (Bloomberg) — Crude oil futures rose to a record in New York and a […]

Saudi Aramco amenable to improving reserve data

Salieri further noted that Aramco would be an advocate for a future global hydrocarbon inventory initiative.

Oil and Gas Journal

Riding out the Gas Spike

New environmental regulations, however, threaten to dampen the incentives to invest in new refining capacity for the American market

Fox News

Dick Chenny on Peak Oil

Special thanks to ASPO (peakoil.net)

In the April 2004 issue of the magazine the Middle East I found a statement that Vice-
President Dick Cheney had made in a speech at the London Institute of Petroleum
Autumn lunch in 1999 when he was Chairman of Halliburton. A key passage from his
speech was:

Miller Petroleum, Inc. Announces the Completion of Two Major Lease Acquisitions

“Knowledgeable geologists have described this prospect as perhaps the largest unexplored structure in the Appalachian region and believe it could be a major hydrocarbon reservoir,News Release For Immediate Release: May 10, 2004 Miller Petroleum, Inc. Announces the Completion of Two Major Lease Acquisitions HUNTSVILLE, Tenn., May 10, 2004 – MILLER PETROLEUM, INC. (OTCBB: MILL) plans […]

Saudis Urge OPEC to Hike Oil Output

RIYADH, Saudi Arabia – Saudi oil minister Ali Naimi urged OPEC (news – web sites) on Monday to raise its production ceiling by 1.5 million barrels a day when it meets on June 3. Saudis Urge OPEC to Hike Oil Output RIYADH, Saudi Arabia – Saudi oil minister Ali Naimi urged OPEC (news – web […]

Adios, cheap oil, bring on the big bucks

“The mechanism by which global oil prices are set is intact, but the normal behavior of supply and demand is not”

Asia Times

Development And Exploration Wells In Australia And The US

If you look at it in military terms, Aussie listed junior Victoria Petroleum, with assets in California and Wyoming in the US and various basins in Australia, had an early raiding party with its West San Antonio No1 in the Salinas basin, California. But it is now starting a general drilling offensive on a broad front.

OilBarrel

Oil Price Hits Highest Level Since 1990

WASHINGTON (AP) – The price of oil rose to its highest level in more than 13 years on Monday as traders responded to the weekend killing of five Westerners working for an oil contractor in Saudi Arabia.WASHINGTON (AP) – The price of oil rose to its highest level in more than 13 years on Monday […]

We can only refine so much gas

Government may impose a rationing scheme (which seems unlikely) or price will allocate supply. Those who can afford it will get as much as they want. Others will not.

Houston Chronicle

Will The End of Oil Mean The End of America?

The needs of the people of any one country must be subordinated to the larger agenda of Empire itself.

CounterCurrents.org

Insatiable China Will Import Gas More and More

China’s demand for natural gas is expected to rise about 12 percent a year for the next 15 years, outstripping proven reserves, and reaching around 1 trillion barrels by 2020.

Neftegaz.ru

Oil security: A top priority for China

In 2003, China produced some 169 million tons of crude oil (up 1.5 percent year-on-year) and 34 billion cubic meters of natural gas (up 6.8 percent).

Meanwhile in that same year, crude oil imports were 91 million tons (up 31.3 percent). Imports accounted for 36.1 percent of national consumption that reached 252 million tons (up 10.2 percent). Total oil consumption was 274 million tons (up 11.5 percent).

China View

Saudi Arabia Committed to 22-to-28-Dollar-a-Barrel Oil Price Range: Minister

He said Saudi Arabia is “willing and ready to invest in two new refineries in the U.S.,” with a capacity of 500,000 barrels a day.

http://www.tehrantimes.com/Description.asp?Da=4/29/2004&Cat=9&Num=12

Eh, on to the roundtable.

World oil crisis looms

If the exaggeration is confirmed, the estimate of recoverable oil will have to be lowered. That is bad news for Oman, which claims reserves of 5.4bn barrels and is heavily dependent on oil and gas exports but it is also bad news for the world as a whole.

Janes.com

Satellites Show Earth Has a Fever

A recent study from NASA says that satellites are acting as thermometers in space. Contrary to meteorological ground stations which measure the air temperature around two meters above the ground, satellites can accurately measure the temperature of the Earth’s skin. And this new study, which covers the 18-year period going from 1981 to 1998, shows that the Earth’s temperature is rising 0.43

OPEC Moves Against Rising Oil Prices

OPEC has given its members the green light to over-shoot their officially assigned oil production quotas for now, in a bid to check rising prices of the commodity.

http://www.tehrantimes.com/Description.asp?Da=4/21/2004&Cat=9&Num=4

« 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