Shale-Gas Boom May Stall as Price Slump Erodes Cash

Drilling in U.S. shale-gas formations may tumble as companies run short of cash after prices for the fuel languished below the cost of production for more than a year. Natural-gas explorers will realize the need to cut drilling in the next few months, said Murry Gerber, chairman of EQT Corp., the largest producer in the […]

Oil production hit for decades after BP spill

“They can’t ban deepwater because the industry has nowhere else to go”, says chairman John Westwood. Newedge USA say if the moratorium on new drilling, announced by President Barack Obama after the accident drags on, oil supply could suffer a shortfall of up to one mb/d by 2016 to 2018. Another analyst said: “They wouldn’t […]

Oil is not the enemy

Candlelight dinners won’t be romantic. They’ll be commonplace. That’s a world some say is coming unless we switch to clean energy — fast. Although the exact date keeps getting pushed back, those people argue that, at some point, oil production will decline, not due to a lack of demand, but because it just won’t be […]

Exploration & Production Success Continues off Atlantic Canada

Offshore Canada’s Atlantic coast has proven to be a very oil rich region. The first well drilled offshore was in 1943. The Island Development Company drilled the Hillsborough #1 well 13 km from Prince Edward Island in 8 m of water. The well reached 4,478 m. Two years later the well was dry and abandoned, […]

Coal Sans CO2: A Pipe Dream

My friends at The Times Green blog have rounded up news pointing to the persistent political appeal of developing ways to burn coal while capturing and disposing of the flood of resulting carbon dioxide emissions. Anyone talking about “ clean coal” in the context of climate change is talking about this concept. And it remains […]

Natural Gas Could Ease the Path to a Low-Carbon Future

Natural gas resources appear to be far more abundant than industry experts previously assumed. Recent advances in horizontal drilling and hydraulic fracturing have made the extraction of natural gas from tight sands, coal bed methane, and deep shales economically feasible. If these new resources can be extracted responsibly, natural gas may finally be able to […]

Why it doesn’t matter that there’s ‘plenty of oil left’

Peak oil felt like a very real and immediate possibility around the time of the oil price peak in mid-2008, but the “oil-is-here-to-stay” crowd has enjoyed something of a resurgence since then. Oil prices are down (though back to more than twice the low seen after the financial meltdown). Furthermore, 2009 was a banner year […]

Oil Depletion Analysis Centre Newsletter, Apr 30

As oil companies reported sharply increased profits this week, an estimated 5000 barrels of oil a day was spewing into the Gulf of Mexico following the explosion of the Deepwater Horizon oil rig. This ecological disaster comes just a month after President Obama gave the green light to expand drilling off the US coast, and while […]

Australian infrastructure expert warns of fresh oil crunch

He says peak oil when demand outstrips dwindling supply – has already hit, but the global downturn has kept prices low . Professor Newman even blames oil for causing the global recession in the first place, and he’s not alone. Radio Australia

Saboteurs hit Iraq’s northern oil pipeline, halting exports

Iraqi oil exports have been cut due to sabotage along the northern pipeline system, according to officials who say repairs could take up to a week. The 970-km line transports crude oil from the country’s Kirkuk fields to Turkey’s Mediterranean port of Ceyhan. “The export pipeline is damaged and oil flow to the Turkish export […]

Depletion of fossil energy resources

Depletion of global fossil oil resources has been the theme topic of the world economic and political circles over the past decades, particularly in consumer countries in Europe and America. This has also been a source of great apprehension in those countries. The heart of their discussion is about the alternate sources of energy when […]

Iran hopes to sign Iraq oil pipeline deal

Iran hopes to sign a deal with Iraq to build an oil export pipeline from Iraq’s southern city of Basra within a month, an Iranian diplomat said on Sunday. The plan for a pipeline from Iraq’s southern city of Basra to Iran’s Abadan refinery is not new, as both OPEC members signed an initial agreement […]

The Imminent Crash Of Oil Supply: Be Afraid

Look at this graph and be afraid. It does not come from Earth First. It does not come from the Sierra Club. It was not drawn by Socialists or Nazis or Osama Bin Laden or anyone from Goldman-Sachs. If you are a Republican Tea-Partier, rest assured it does not come from a progressive Democrat. And […]

Oil: A tale of two cartels

Tony Hayward, group chief executive of British Petroleum, made heads turn at the World Economic Forum in Davos, forecasting a “supply challenge” for the energy industry, which would have to increase output to 100mbd — a new peak for oil from the current capacities of 83-84 mbd. He was strongly backed by Mr Peter Voser, […]

US military warns oil output may dip causing massive shortages by 2015

• Shortfall could reach 10m barrels a day, report says • Cost of crude oil is predicted to top $100 a barrel The US military has warned that surplus oil production capacity could disappear within two years and there could be serious shortages by 2015 with a significant economic and political impact. The energy crisis […]

The Dirty Secrets Of Coal

Mountaintop removal mining is a form of mining that involves blasting the summit of mountains to reach the underlying coal. This process is common in the central Appalachian region, eastern Kentucky, West Virginia, and southwestern Virginia, and it takes a huge toll on the local environments, as well as peoples’ health. It does extensive damage […]

Khalid Al-Falih, President and CEO, Saudi Aramco

video from Daniel Yergin and  CERA The Opening Keynote address at CERAWeek 2010 was given by Khalid Al-Falih, President and Chief Executive Officer of Saudi Aramco, who was welcomed to the conference by IHS CERA Chairman Daniel Yergin. Mr. Al-Falih described the challenges facing the world’s energy industries in the context of three imperatives, which […]

Peak Oil Era: Why the Cost and Risk of Oil Exploration Will Keep Rising

The days of easy-to-access oil are gone. Now, companies like BP are faced with oil and gas exploration projects that require operating in politically unstable regions or working in technologically complex areas like the deep waters of the Gulf or offshore Brazil. Protectionist measures from countries like Russia have forced companies to look at friendlier, […]

Oil rig reported explosion 3 hours before fire

A deepwater oil platform that burned for more than a day after a massive explosion sank into the Gulf of Mexico on Thursday, creating the potential for a major spill as it underscored the slim chances that the 11 workers still missing survived. Transocean’s semisubmersible, Deepwater Horizon, has sunk in approximately 5,000 feet of water […]

Coal India asked to increase output by 23 mt

NEWDELHI: The Centre has asked Coal India Limited to increase its production by 23 million tonnes over the targeted 350 mt in 2006-07 to bridge the demand-supply gap of 55 mt. For the current year, the production target of 315 mt has been revised to 332 mt. Addressing the 12th annual general meeting of the […]

Feasta calls for establishment of fossil fuel buyers’ cartel

In Brief: Feasta proposes the establishment of an international organisation to limit coal production and to allocate the remaining oil and gas supplies on a fair basis between the peoples of the world.

GPM

Desperado Days

Apart from pure avarice and ego, the actions of the Bush Administration have the appearance of incredible desperateness. It is that desperateness – their desperado-like, passionate, furious recklessness – which must cause us to ask, does the Bush Administration know something that we do not know? What do they know that makes them act like […]

China’s Nov. Crude Oil Imports Rise 46%

Oil imports to the world’s second-largest energy market rose 46 percent to 11.12 million metric tons in November from a year earlier, more than October’s 34 percent increase, the Customs General Administration of China said in Beijing today.

Bloomberg

No ‘nouveau modesty’ here

Germany shines a beam on the future of energy

PowerLight’s three Bavarian solar parks, consisting of 57,600 silicon-and- aluminum panels, will generate 10 megawatts of electricity — enough to power 9,000 German homes.

http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2004/12/20/MNGRAAEL4B1.DTL

Opec bolstered by rivals’ crude supply shortfalls

(Reuters) 17 December 2004 LONDON – A surge in global oil consumption is slowing but supply shortfalls from rival producers such as Canada and Russia will bolster demand for the Opec group’s crude this winter, Opec said yesterday. Opec’s monthly Oil Market Report forecast demand growth of 1.5 million barrels per day next year in […]

Lybian PM says oil running out fast !

Dr Shukri Ganem, Libya’s prime minister. http://www.gulf-news.com/Articles/BusinessNF.asp?ArticleID=143767 CLIP>>” “The challenge we face today is that oil has become a problem for us. We can not think beyond oil. It is going to run out in the near future… He predicted a further increase in the price of oil. …Research reports suggest that oil consumption will […]

Shell chief says he’s under threat

Shell was seen as a possible bid target by rivals such as Total of France after the reserves rebooking. Mr Van der Veer called the period “dark days indeed. Perhaps some of you even started to take French lessons”.

FT

Russian Oil Group YUKOS Seeks Bankruptcy

Russian oil group YUKOS has filed for bankruptcy protection in a U.S. court in an attempt to stop the Russian government from auctioning off its main production unit on Dec. 19, it said on Wednesday.

Reuters

End of Oil Could Fuel ‘End of Civilization as We Know It’

Opponents in a long-running debate over when the world will run out of oil squared off Tuesday in a crowded room of scientists, reaching only one conclusion: The supply of fossil fuels is fixed and the world economy will eventually have to wean itself from oil. The most dire and perhaps speculative forecast calls for […]

The Status of Oil and Gas Depletion in Russia

by C. J. Campbell
there may be a second peak around 2010 perhaps at about 10 Mb/d, although Russian officials now speak of minimal increases. Consumption stands at about 2.5 Mb/d yielding exports of 5.7 Mb/d. On balance it seems likely that Russia can hold close to the present level of exports only to around 2010 before decline sets in.

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