Production will peak and decline and oil prices will rise.

In spite of projections for growth in non- OPEC supply, it appears that non-OPEC and non-Former Soviet Union Countries (non- FSU) have already peaked and are currently declining Once OPEC’s excess productive capacity is gone and its oil production peaks, OPEC exports will begin an inexorable decline. At that point in time, the oil markets […]

Why do Americans fear nuclear power?

It’s millions of times as much as is released in burning (fossil fuels). And so what that means is that if you do it properly, a very small amount of material can give you a vast amount of energy. And hence, a small amount of uranium can give you a very great deal of energy. That energy can be converted to electricity.

PBS

Renewables gain as fuel costs increase for others

Green Mountain Energy gets the power it sells from wind turbines and hydroelectric plants and will cost about 11.1 cents per kilowatt-hour, the same price current Reliant Energy customers are paying.

Houston Chronicle

Official: OPEC to Cut Production Next Year

CAIRO, Egypt (AP) — OPEC will cut back on oil production early next year in a bid to stave off a further decline in the world price, Kuwait’s oil minister said Thursday. The comments by Sheikh Ahmad Fahad Al-Ahmad Al Sabah revealed what delegates to the Organization of Petroleum Exporting Countries had agreed in informal […]

msnbc is reporting thats Kuwaits oil minister said

they will cut back on production beginning next week!

http://www.msnbc.msn.com/id/6685676/

High fuel costs spell winter tragedy

With the effects of high oil prices yet to knock through into the developed economies, this winter could be the first of many. Fuel poverty for the poor and the pensioner could be a problem the world will see balloon over the next decade and beyond.

Al Jazeera

‘Significant’ oil find made in North Sea

“The discovery was also welcomed by Alex Salmond, leader of the Scottish National Party, who said that reports suggested the field could contain around 500 million barrels of oil.” PO.com asks if there is any better evidence of current peaking of conventional oil than this pronouncement that a weeks worth of oil is a “major” […]

Weekly EIA report

Oil inventory stocks up and in recent days prices down, but: EIA weekly report“U.S. crude oil imports averaged nearly 10.9 million barrels per day last week, up 808,000 barrels per day from the previous week, and the second highest weekly average ever. snip Distillate fuel inventories rose by 1.4 million barrels last week, but are […]

A plan for U.S. energy security?

The United States must diversify its global oil supplies, expand a world network of strategic petroleum reserves and raise fuel efficiency standards to ensure its energy security, a panel of experts will recommend Wednesday.

CNN Money

Slump in Oil Prices Blamed on

Stocks Fall as Energy Shares, J&J Weigh
Tue Dec 7, 2004 03:30 PM ET

…snip…

Traders also said program, or computer-driven, trading linked to the futures market pulled down the indexes.

“This is what happens when there is no real point of view; no one is wildly bullish and no one is wildly bearish and along comes a sell program and all hell breaks lose,” said Larry Wachtel, senior vice president at Wachovia Securities LLC. “Lower oil prices are good for consumer spending, but it hurts oil stocks.”

…snip…
click for full story

Russia May Stop Exporting Energy Sources by 2010 — Expert

“If we don’t learn how to increase energy efficiency, but continue to develop the oil and gas sector, we will stop exporting energy sources because they will be absorbed by the domestic market,” said the expert.

Mosnews

Oil Prices Fall On Positive Supplies Report

Oil prices plunged by $3.64 a barrel yesterday.
“It was just an incredible drop,” said Philip Flynn, an energy analyst at Alaron Trading Corp. in Chicago. “I’m surprised at the magnitude of the drop, but this is what the markets have been doing lately. . . . The best way to explain it is it’s like a market that needs Prozac. It gets too high and too low and too overexcited.”

Washington Post

McKillop on market and economy

..three ‘new paradigms’ for annual average per capita demand can be posited, as shown in the Table, below. All of these paradigms lead only to one conclusion: sharply higher oil prices. In addition, these potential new trends rates of per capita demand and world demand growth on a 3-year base are themselves driven by a […]

Greenspan scares off investors as oil rises

Greenspan scares off investors as oil rises By Richard Webb November 21, 2004 The Sun-Herald Financial markets were sent reeling yesterday by strong comments from US Federal Reserve chairman Alan Greenspan on America’s ballooning trade deficit and a surge in the price of crude oil. The Australian dollar was pushed to a nine-month high of […]

G20 MEETING G20 sees mid-term oil price 35-40 usd – communique document UPDATE

BERLIN (AFX) – Finance ministers and central bank governors from the world’s 20 leading economies expect the price of oil to move between 35-40 usd per barrel in the medium term, according to a document they will publish with their communique at the conclusion of the G20 meeting on Sunday. The G20 document, obtained by […]

Russian wildcat numbers down

It seams like the Yukos saga is hiting their exploration efforts. They can’t pay their contractors so they aren’t able to perform the drilling to support their reserves or production. The tax uncertainty has spilled over to the other Russian majors as well since they also have curtailed exploratory drilling. Evidently the Russian government has […]

Planning for a soft landing

Petroleum Review – Editorial – November 2004

According to the IEA, Opec’s spare capacity (reached within 30 days and sustainable for 90 days) is now just 580,000 b/d, of which 180,000 b/d is in Iraq. What this tells us is that the world’s spare capacity is now just 0.5%.

Energy Institute

Peak Oil article in the New Zealand Listener

http://www.listener.co.nz/default,2878.sm

Danish Wind Turbines Take Unfortunate Turn

The world’s largest producer of wind turbines, and the whole idea of large-scale wind energy itself, suffered a setback this summer with news that all the turbines at Denmark’s Horns Rev (Reef)—the biggest offshore wind farm built to date—would be moved to shore for repair and replacement of defective transformers and generators. The original article […]

Wyoming expects energy push

“John Kerry would have been up against the same things that George Bush is up against,” Bower said. “We have increasing energy demands and limited supplies on line. We’ve got tremendous amounts of natural gas. We just have to be able to put them on line.”http://www.casperstartribune.net/articles/2004/11/05/news/wyoming/b1276025766f600387256f430007d5be.txt

Kazakh Parliament approves energy bill

ASTANA, Kazakhstan (AP) — Kazakhstan’s parliament on Friday approved a bill giving the government priority in buying stakes in energy projects put up for sale in the oil-rich nation. Foreign investors currently dominate the Central Asian country’s oil and gas sector. The Kashagan field, which lies beneath the northern part of the Caspian sea and […]

Oil traders say prices will soar

Oil traders say the re-election of US President George W Bush points to rising oil prices in the months ahead. Traders are concerned US policy in the Middle East and unrest in Nigeria – where unions have vowed to target oil exports – could affect production. http://news.bbc.co.uk/1/hi/business/3981455.stm

Sound Energy Governance: A New Era Of Oil Transparency

Matthew Simmons presentation:

Simmonsco

Prognosticating oil supplies

A rather alarming theory about oil supplies — which had been discussed mostly among fringe economists and on quirky Internet Web sites — has recently received much broader attention.

Washington Times

Oil sands costs may rise 35%

Canadian Natural Resources says high prices for steel, fuel and labour could boost the cost of the first phase of its Horizon oil sands project in northern Alberta by nearly 35 per cent — to $6.6-billion.

Globe and Mail

Massive attacks halt Iraqi oil flow

Fighters have mounted the biggest attacks yet on Iraq’s oil infrastructure, blowing up three pipelines in the north and hitting exports via Turkey, oil officials say.

Aljazeera.net

UK to pump greenhouse gas under sea

Proposals to store tens of millions of tonnes of carbon dioxide under the seabed are to be unveiled by ministers tomorrow in a dramatic attempt to tackle global warming.

independant

Oil slumps below $50 a barrel

NEW YORK (CNN/Money) – Oil prices fell below $50 a barrel early Monday as concern about a heating fuel crunch alleviated over the weekend and traders realized that the market may be overbought. http://money.cnn.com/2004/11/01/markets/oil/index.htm?cnn=yesOil slumps below $50 a barrel Easing concerns about heating fuel supplies as refineries come back on line pressure crude. November 1, […]

saudi reserves plentiful for forseeable future…..according to inside source

Further to the future of Saudi oil Author: W. L. Littlejohn – Released: 3/6/2004 Email this page GULF2000 MAILING LIST (COLUMBIA UNIVERSITY), February 27, 2004: For some days, I have watched the debate on Saudi resources set off by Matt Simmons with amusement – the kind of amusement one feels when listening to discussions about […]

Britain ‘is insulated from oil price rise

Britain now uses less oil then any other major economy and has substantial oil resources of its own, making it one of only two net exporters of oil in the G7, the world’s seven largest economic powers.

Telegraph

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