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Summary of Weekly Petroleum Data for the Week Ending September 3, 2004
From EIA “U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) dropped by 1.4 million barrels from the previous week. At 285.7 million barrels, U.S. crude oil inventories are a little above the lower end of the average range for this time of year, and are the lowest since the week ending […]
World to depend on Gulf oil more
the Gulf region represents the world’s oil center point as it produces 15 million of the total 70 million oil barrels per day at 21.4 per cent, with Saudi Arabia alone producing 15 per cent of this total.
Official: US oil at the heart of Iraq crisis
By Neil Mackay President Bush’s Cabinet agreed in April 2001 that ‘Iraq remains a destabilising influence to the flow of oil to international markets from the Middle East’ and because this is an unacceptable risk to the US ‘military intervention’ is necessary. http://www.sundayherald.com/print28285
EU Energy Chief Urges More Transparency in Oil Markets
The Commissioner also said the creation of European version of the U.S’s strategic petroleum reserve would help aid transparency.
Sakhalin rivals North Slope of Alaska
Good news for Japan: About 350 miles northeast of here, offshore of Sakhalin Island, part of Russia, Japanese companies are participating in the first $10 billion slice of what could be a $100 billion development of oil and gas reserves believed to rival the North Slope of Alaska. http://www.nytimes.com/2004/09/03/business/worldbusiness/03pipe.html?pagewanted=1
How to Kick the Oil Habit
As it is, turmoil overseas has helped propel oil prices up more than 40% during the past 12 months. Risk, in other words, has become a part of the fundamental equation when it comes to the price of oil
TRANSCRIPTS – Peak Oil on NPR’s Morning Show
From Globalpublicmedia: “Narrator: Phil Flint is a commodities analyst with Alleron Trading. He says his colleagues aren’t really worried about a peak in oil production: P. Flint: I think most of them don’t think that far out into the future to be honest with you. I think they look more to 3 to 6 months […]
Oil exports from southern Iraq halted due to attacks
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BASRA, Iraq – Oil exports from southern Iraq have been halted because of attacks on pipelines and are not likely to resume for at least a week, a senior Iraqi oil official said Monday. |
Saudi to use extra oil income to repay public debt
Ibrahim al-Assaf said that the cabinet and the supreme economic council had agreed to “use the budget surplus this (financial) year to repay some of the public debt,” Al-Eqtisadiah newspaper reported.
Lee Raymond (CEO Exxon) on Oil
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You’ve said the natural decline in oil supplies is misunderstood 9-11 and peak oil: connecting the dots
By Carolyn Baker Online Journal Contributing Writer August 25, 2004In a July article, Kaminski criticizes 9-11 truth seeker Mike Ruppert for his more recent focus on peak oil. Kaminski writes: ” . . . he has effectively hijacked a large segment of the 9/11 truth movement into a discussion of peak oil concerns, and his […] Liquid Natural Gas to rescue us from Peak Oil
Still, it will be surprising if LNG imports do not ultimately lower American gas prices below $5 per mBtu from today’s over $6. LNG is usually profitable at $3.50 (BG, a British firm, says it is profitable at $2.50), so there is plenty of incentive to invest in capacity at today’s prices The future’s a […] No supply side answers to the coming oil crisis
Oil industry commentarist Andrew McKillop writes: One hangover from the ultraliberal 1980s (during which the New Economy emerged from the wreck of ” Keynesian economics “) is the myth or pious belief in so-called ’supply side solutions’. VHeadline.com OVER A MILLION BARRELS OF OIL A DAY LOST TO DEPLETION
The Oil Depletion Analysis Centre NEWS RELEASE 24 August 2004 The world is now losing more than a million barrels of oil a day to depletion The analysis shows that output from 18 significant oil-producing countries, accounting for almost 29 percent of total world production, declined by 1.14 million barrels a day (mb/d) in 2003. […] Bush Policy on Oil Reserves Limits Options
The peak point of view suggests that US Oil reserves may well be needed to maintain our military abilities. I’d bet Bush and Cheney feel the same way. But pressure is mounting for GWB to open the taps, as in this Bloomberg story (that reads a bit like an editorial) Aug. 23 (Bloomberg) — President […] It
Check out Peak Oil News and Message Boards People judge Bush
one week to wait until people jude Bush’war crimes. Chevron-Texaco CEO says higher prices may not just be for the short-term
Oil’s new high may persist Price of crude topped $47 a barrel Wednesday, despite Saudis’ recent talk of loosening spigots. By Kris Axtman | Staff writer of The Christian Science Monitor HOUSTON – War in Iraq. Instability in Venezuela. Civil unrest in Nigeria. Governmental wranglings in Russia. With so much uncertainty in so many of […] Crude Oil Prices Move Above $47 a Barrel
Crude oil prices surged again Wednesday, rising above $47 a barrel amid lingering concerns in supply from Iraq and Russia. Oil rises to record as jitters increase
Inventories need to rise by more than “a couple of million barrels” to temper prices, said Mike Armbruster, co-founder of Altavest Worldwide Trading in Laguna Hills, California. The Economist almost sees the light
The Economist notes that we are probably going to see higher gas prices for some time since as opposed to 1990 the futures market for crude oil has gone way up. This article doesn’t address depletion but instead of blaming only terrorism or speculators like the mainstream media, it notes that it is also due […] Why Gasoline prices are high
Excluding some of the war factor, and the N.Y. speculators.I will make it as simple as I can. I am an EX. Refiner. I was in the refining business under Gov’t price controls mid 70’s and decontrol, early 80’s, which closed over 1/2 the refineries in the Continental U.S. In 1980, there were approximately 340 […] Reuters News Service discovers big oil fields are becoming hard to find
Why Are Oil Prices So High? ——————————————————————————– LONDON – U.S. oil prices set another record on the New York Mercantile Exchange on Friday, topping $46 a barrel, the highest since NYMEX launched its crude contract in 1983. Following are some of the factors behind oil’s price surge. -RISING DEMAND China’s economic expansion has given a […] Oil Prices Ain’t “Record High,” But They Will Be
Of course, we won First gas prices shot up; will crayons be next?
SAN FRANCISCO (CBS.MW) — U.S. drivers for months have bemoaned soaring gas prices, but motor fuel isn’t the only oil-based product under pricing pressure due to record high crude-oil costs. Oil is an indispensable ingredient in everything from paints, fertilizer and tires to cosmetics and synthetic fabrics. Rising crude prices have yet to drive up […] American Energy Policy
Alexander Zaitchik (of the NYPress alt newspaper) is hopping mad at the Bush-Cheney Energy Policy. An excerpt: “Nowhere is the manipulation of September 11th more crass in its execution and backwards in its program than the current Republican effort to ram through its energy plan, a drive that follows a GOP pattern of using unrelated […] Russia a superpower in oil
For one thing, Russia can produce more oil than it has the pipelines to export, so any dip in Yukos’ production could be made up elsewhere. For another, high prices are letting Russia reap windfall profits from oil. Lastly, the Kremlin is unlikely to risk the international opprobrium that turning off Yukos’ taps would generate. Energy Security in East Asia
Nearly three years into the global war on terrorism, there is still an incomplete recognition of the strategic importance of energy security. The current focus on energy security remains lacking and limited, with a rather outdated reliance on the more traditional perspective of concentrating on the risks posed by instability and insecurity in the Middle […] The Future Of Energy: Alternatives Ahead
The IEA estimates that by 2030 there will still be 1.4bn people without access to electricity. To completely end energy poverty there is need to invest a further $ 665bn over the next 30 years. These are realistic figures, the aim is unfortunately unattainable. Hydrogen economy touted as solution to peak oil
Fear drives the political myth of energy independence! John Whitaker coined the phrase “Energy Independence” back in 1973. Today, it is often used by candidates offering a better idea or touted by incumbents outlining complex “roadmaps” which are neither understandable nor helpful in the day-to-day survival for the common man. Squeeze Play! Energy Oil News Categories Recent Board Topics Archive LATEST NEWS HEADLINES
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