Club of Rome: What is Peak Oil?

What is Peak Oil? What are the consequences? What are the solutions? Watch the short animation and find out more @ connect.clubofrome.org

Saudi Arabia’s water needs eating into oil wealth

* Saudi per capita water consumption almost double world average * Middle East and North Africa ‘high stress’ in terms of water * Desalination can deplete amount of oil available for export By Reem Shamseddine and Barbara Lewis Long before it understood the value of oil, the desert kingdom of Saudi Arabia knew the worth […]

Peak Oil is a Myth: The truth is revealed…

“According to World Public Opinion website, 85% of the British and 76% of the Americans who participated in a survey believed that the world is running out of oil,” says an anonymously authored OilVoice article. But that’s just about the dumbest thing I’ve ever read. It’s so nice that the article manages to ignore all […]

Petrodollars: Brazil says yes to FPSO, but others aren’t following suit

When Brazil’s Petrobras installs the first permanent floating production, storage and offloading (FPSO) facility in the Gulf of Mexico later this year or early in 2012, the structure likely will stand as an isolated experiment for the region rather than the first peek at a breakthrough trend. Although several operators and the government have talked […]

India’s interests growing in African oil

Even though Sudan is the only African country where state-owned Indian companies have started extracting hydrocarbons, other countries in the continent are also showing promise, according to information available with India’s oil ministry. ONGC Videsh Ltd, the overseas arm of the state-run Oil and Natural Gas Corp (ONGC), has in the past three financial years […]

Africa: Exploit natural gas to power economic growth

The Petroleum Institute of East Africa (PIEA), an industry think-tank, has asked Kenya to put more effort in prospecting for natural gas, saying this would set a broad energy base for realisation of the growth rates envisaged in the Vision 2030 blueprint. The institute argued in its latest bulletin that natural gas would be a […]

Lee shuts in more than half of Gulf oil and gas

Gulf of Mexico oil and gas companies have shut-in 60 percent of the region’s oil production and 54.6 percent of the natural gas output as Tropical Storm Lee churns over the Louisiana coast. Companies began moving non-essential workers to shore and shutting down production from offshore platforms early in the week in anticipation of the […]

U.S. Awash in Oil and Lies

With four times as many oil rigs pumping domestic oil today than eight years ago and declining domestic demand, the United States is awash in oil. In fact, the U.S. exports more oil than it imports, according to the U.S. Energy Information Administration – and has done so for nearly two decades. The country’s oil […]

Major Countries Burn Up Crude Reserves

It is something that peak oil advocates have been warning us for a long time; our world using up our last reserves of oil. While the day that the last drip of crude is burned up is a long ways out, some parts of the world may be heading for a major pinch in production. […]

Who Are America’s Top 10 Gas Drillers?

Natural gas—often touted as an abundant, comparatively clean source of domestic energy—has come under intensifying public scrutiny in recent months, with federal regulators and reporters challenging some of the industry’s rosy business projections. The Securities and Exchange Commission is probing whether gas companies have exaggerated their reserves [1] and have adequately disclosed the risks to […]

Natural Gas, “Fracking”, Water and $500 Billion

There is a parallel, shifted in time by 5 years, debate raging in the United States and Australia. This debate involves natural gas production, the only way to actually do it through hydraulic fracturing and the purported environmental risks to the land and to drinking water aquifers. Buoyed by fatally flawed and alarmist documentaries like […]

Has Peak Oil Come To The Non-Opec World? Maybe.

The world’s biggest oil companies put in a pretty pathetic performance in the second quarter of 2011. Not in terms of earnings — those were great, with Exxon posting $10.7 billion and Royal Dutch Shell doing $8 billion. Just what you’d expect with Brent crude at a lofty $120 a barrel. Where the results were […]

Alberta-Texas pipeline looking like a sure thing

These days, jobs trump environmental concerns. Given the current high unemployment, it’s not looking good for environmentalists after last week’s decision by the U.S. State Department to green-light the Keystone XL pipeline from Alberta’s oil fields to the Texas refineries. Because these days, potential jobs trump greenhouse gases. Also, Canadian energy security trumps environmental risks. […]

Industry attention turns to some up-and-coming plays

If 2008 was the Year of the Shales, 2011 is shaping up to be the Year of Liquids-Rich Plays–and there are still four months to go. A major recurring theme in second-quarter conference calls was oil companies’ news of positions amassed or initial test wells drilled in new shale and unconventional fields containing oil and […]

Big oil companies may have to give up Iraq gas

Many of the world’s biggest energy companies may have to surrender most of the gas from Iraq’s vast southern oilfields to a processing and export project led by Shell, a final draft contract between Baghdad and Europe’s biggest company, obtained by Reuters, shows. Oil giants including Royal Dutch Shell (RDSa.L), BP (BP.L), U.S.-based Exxon (XOM.N), […]

Fracking CEO: We’re Our Own Nemesis

When it comes to building trust and community support, CEO of Texas-based Breitling Oil & Gas company Chris Faulkner, says the hydraulic fracturing community has failed miserably. Faulkner founded Breitling in 2004 as a natural gas and oil company that exclusively taps North American shales and wells. He told AOL Energy that although there has […]

Natural Gas: The Squeeze at the Bottom of the Resource Triangle

Theoretically, we have a very large amount of resources of many kinds available–oil, natural gas, coal, uranium, gold, fresh water. There is a relatively small amount of high quality, inexpensive-to-extract resources, and we tend to extract those first. From there, we move to lower and lower quality resources that are more expensive to extract. The […]

Ugo Bardi: The Seneca effect: why decline is faster than growth

Don’t you stumble, sometimes, into something that seems to make a lot of sense but you can’t say exactly why? For a long time, I had in mind the idea that when things start going bad, they tend to go bad fast. We might call this tendency the “Seneca effect” or the “Seneca cliff,” from […]

Tech Talk – the coming problems for the Alaskan Pipeline

The original Prudhoe is a small village, with a medieval castle, on the south bank of the Tyne, in the north-east of England. It lies in a coal-mining region where, within 5 miles of Prudhoe Colliery there were, over time, an additional 157 mines and pits and it was working five seams of coal in […]

China Shuts Over 1,000 Illegal Coal Mines

China has shut down over 1,000 illegal coal mines in a countrywide crackdown, an official said. Zhao Tiechui, an official, said that till the end of July, authorities had closed 1,289 coal mines for illegal production. As many as 86 people had been arrested on charges related to mine safety, China Daily quoted the official […]

Libya Oil Industry May Fast Recover

Libya’s oil industry should be able to recover fairly quickly after fighting ends, but it might take a year or two to reach pre-rebellion production levels, analysts say. If the country can establish political stability, Libya could begin producing 250,000 to 300,000 barrels a day within several months, says Samuel Ciszuk, an analyst at consulting […]

The Old Faithful Peak Oil Debate

It is a well known refrain: Peak Oil is always now ! The problem is that nobody noticed, because oil prices are so high and demand growth is almost zero. The ongoing and real economic recession in almost all OECD countries more than “trims” oil demand in these countries, still taking about 45 million barrels […]

Brazil Builds $127 Billion “Offshore City” to Harvest Oil in the Deep Sea

Want to get a feel for how crazy the post-peak oil fossil fuels industry is getting? Here’s as good an example as any: Brazil’s state-owned oil company Petrobras is about to embark on an unprecedented oil-gathering mission. It’s about to attempt to extract 30 billion barrels of oil from reserves that are locked in deepwater […]

Stuart Staniford: Libyan Oil Production

It looks like the Libyan revolutionaries have taken Tripoli: Col. Muammar el-Qaddafi’s grip on power dissolved with astonishing speed on Monday as rebels marched into the capital and arrested two of his sons, while residents raucously celebrated the prospective end of his four-decade-old rule. Colonel Qaddafi’s precise whereabouts remained unknown and news reports said loyalist […]

Sen Says Libyan Oil Flow May Never Return to Capacity

Amrita Sen, a commodities analyst at Barclays Capital, talks about the outlook for Libyan oil production if rebels take control of the country from Muammar Qaddafi. She speaks with Maryam Nemazee on Bloomberg Television’s “The Pulse.

India’s $10bn coal export plan

INDIAN energy giant Adani Enterprises has moved foreign investment in Australia to a new level, with a $10 billion scheme to control every stage of its booming coal export business from mine to port. In his first major interview, the chief executive of Adani’s Australian operations, Jignesh Derasari, declared the company wanted to control “whatever […]

The US Energy Information Administration’s Faulty Peak Oil Analysis

Crude oil provides 35-40% of global primary energy and is a vital driver of economic productivity. The question of when oil supply will reach its global peak is an important and controversial question that is gaining increased attention from a wide array of researchers, commentators and policy makers. Many analysts, including now even the International […]

Norway Sees Longer Oil Era as North Sea Find Offers Hidden Giant

Norway may slow a decade-long slump in oil production after a series of discoveries from the Arctic to the North Sea. Statoil ASA (STL) has made two offshore finds of more than 250 million barrels of oil equivalent in Norway this year. The country’s biggest oil and gas producer yesterday said Aldous Major South and […]

Where would we be today, without the fall of the Soviet Union?

Back in the 1960s and 1970s, the country that was the “big growth story” was the Soviet Union. Its oil consumption grew by leaps and bounds. Its space program grew; its military program grew; and it became much more industrialized. But then something happened to stop the amazing growth story. The Soviet Union became the […]

Indonesia’s oil output declines

Indonesia’s BPMigas oil and gas regulator says that national fields are in decline. Apparently confirming that Indonesia’s oil production has hit a decline as predicted by “peak oil” proponents, BPMigas spokesman Gde Pradnyana said Indonesia will have to reduce its dependency on oil. He said the country will take steps to shift to natural gas […]

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