Mexico’s energy problem – Oil, politics a difficult mix

Mexico’s crude oil reserves have declined from 50.8 billion barrels in 1995 to 12.6 billion barrels in 2003, according to U.S. government figures. At its current production of about 3.4 million barrels per day, that’s about a 10-year supply.

EnergyBulletin.net

Why you may soon pay $10 a gallon for gasoline

Deloitte Oil & Gas Conference to Focus on Global Factors Driving Price Increases

Between 400 and 500 people are expected to attend the conference, including executives from companies in all sectors of the oil and gas industry, capital providers and investors, and industry analysts, as well as Deloitte partners, directors, and managers who serve clients in the oil and gas industry.. BW – Pierre-Rene Bauquis, Associate Professor, IFP […]

$200 Oil? It Could Be Asia’s Gift to World: William Pesek Jr.

Global energy demand to surge 60% by 2030

Oil: The illusion of plenty

Oil: The illusion of plenty By Alfred Cavallo Bulletin of the Atomic Scientists One hundred and twelve billion of anything sounds like a limitless quantity. But in terms of barrels of oil, it’s just a drop in the gas tank. The world uses about 27 billion barrels of oil per year, meaning that 112 billion […]

Ex-Saudi Oil Exec Criticizes US Govt Oil Supply Forecast

“The whole industry laughs at it,” said Sadad Al-Husseini, former executive vice president of exploration and production at Aramco, the world’s biggest oil company.10-27 11:08: Ex-Saudi Oil Exec Criticizes US Govt Oil Supply Forecast DJ Ex-Saudi Oil Exec Criticizes US Govt Oil Supply Forecast LONDON (Dow Jones)–The former head of Saudi Arabian Oil Co.’s (SOI.YY) […]

Summary of Weekly Petroleum Data for the Week Ending October 22, 2004

With imports and production increasing last week, motor gasoline inventories rose by 1.3 million barrels, and are in the middle of the average range. Distillate fuel inventories fell for the sixth week in a row, dropping by 2.4 million barrels, and are below the lower end of the average range for this time of year. […]

ATA Airlines files for Chapter 11 amid costly fuel and lower demand

“Excess capacity, extremely high fuel prices, which continue to escalate, and declining fares have necessitated that all airlines, including ATA, re-examine their business,” George Mikelsons, CEO of ATA Holdings, said in a statement. http://money.cnn.com/2004/10/26/news/midcaps/ata/index.htm?cnn=yesATA Airlines files for Chapter 11 Airline files for bankruptcy protection from creditors amid costly fuel and lower demand. October 26, 2004: […]

The Athabasca Oilsands

As a new member from oil-rich Alberta, Canada, I’m also aware that even our vast resources within the Athabasca Tar Sands is finite and will be exhausted in the not too distant future. I recently took a tour of the huge Syncrude project on Septermber 17 this year. Current extraction (at huge expense) is about […]

Opec asks US to release emergency oil stocks

The president of the Organization for Petroleum Exporting Countries (Opec) on Wednesday urged the United States to release some of its emergency crude oil stocks. “I am always asking them to do that,” Purnomo Yusgiantoro told reporters. The statement came as dealers said crude oil prices retreated slightly in Asian trade after the world’s largest […]

Gas Prices Surge 30 Cents In One Day

Anxious drivers swarmed Terre Haute gas stations Monday to try to fill their vehicles before fuel prices shattered the $2 mark.A sudden surge in prices at some stations had motorists hurrying to beat the price change at the less expensive pumps. At Thornton’s at Third and Voorhees streets, cars were lined up at the pump […]

Stocks sent sliding on rash of bad news about oil

U.S. stocks fell sharply as record oil prices and disappointing sales forecasts from Microsoft Corp. spurred losses in technology shares. The Dow Jones industrial average dropped to its lowest close this year.

Worries about corporate earnings combined with oil topping $55 a barrel to double down on the Dow and Nasdaq.

The Dow lost 107.95, or 1.1 percent, to 9,757.81, its lowest close since Nov. 24. Twenty-eight of the index’s 30 stocks fell. The tech-laden Nasdaq Composite Index slid 38.48, or 2 percent, to 1,915.14, its biggest drop since Aug. 6.

http://www.indystar.com/articles/6/188730-4316-223.html

Energy: A Global Overview

Matthew Simmons presentation:

Simmonsco

OPEC pushing limits of oil production capacity

Most members of the Organization of Petroleum Exporting Countries are pushing the limits of their oil production capability, and some probably are finding that their sustainable capacity is not as high as originally thought. London-based Centre for Global Energy Studies reached that conclusion in its Global Oil Report Market Watch for September-October. “Indonesia and Venezuela […]

Europe May Face Knockout Blow From Dollar Decline: Matthew Lynn

As if things weren’t tough enough for the euro-area economy, another villain appears on the scene threatening to deal a knockout blow to an export-driven recovery. The culprit? The declining U.S. dollar. The currency is slumping again, making exports from the 12- member euro region more expensive. On Thursday, the dollar’s weakness forced the euro […]

Crude Oil Rises Amid Concern Over Declines in U.S. Distillate Inventories

Crude oil futures rose close to records in London and New York on concern the U.S. won’t have enough heating oil for what forecasters say may be a colder-than-normal winter in the northeast. Heating-oil stockpiles fell 1 percent to 49.5 million barrels in the week ended Oct. 15, leaving supplies 11 percent lower than last […]

Group warns on resource consumption

Humanity’s reliance on fossil fuels, the spread of cities, the destruction of natural habitats for farmland and over-exploitation of the oceans are destroying Earth’s ability to sustain life, the environmental group WWF warned in a new report Thursday. But Fred Smith, president of the Washington-based Competitive Enterprise Institute and a former official of the U.S. […]

Report: Humanity using up the planet

Associated Press October 22, 2004 GENEVA — Humanity’s reliance on fossil fuels, the spread of cities, the destruction of natural habitats for farmland and over-exploitation of the oceans are destroying Earth’s ability to sustain life, an environmental group warned in a report Thursday. In its Living Planet Report, WWF said humans consume 20 percent more […]

European Social Forum, Peak Oil blog

ESF-04 was held in Alexandra Palace in North London. A Gormenghast-Nouveau palace, vast, ramshackle, Victorian, punctuated with strange ad-hoc renovations: windows had been bricked-up in the distant past as though it was an old warehouse, while a shiny ochre BBC TV tower poked skywards from one end.more

Newzealand Green Party Speaks Out

The Green Party’s two co-leaders grilled Government officials yesterday about grossly inaccurate forecasts made last October about future oil prices.

The Economic Development Ministry forecast oil would be US$20 a barrel this year, rise to US$25 a barrel by 2020 and be stable thereafter.

http://www.nzherald.co.nz/business/

Shippers of crude pay dearly

HoustonChronicle: With global oil demand surging and prices hitting record levels, the world’s 1,500 oil tankers are all booked up, and their owners are charging hefty premiums. The shortage of tankers is one sign of how strong demand and a lack of investment have left the oil industry’s infrastructure stretched thin — meaning that any […]

IHS’s 10 year Petroleum trends 1994-2003

EPSOM, U.K.–(BUSINESS WIRE)–Oct. 18, 2004–IHS Energy, the world’s leading provider of oil and gas information and consulting services, has released its 2004 report on world petroleum trends which, based on its independent international database, provides a comprehensive 10-year summary of major country, regional and global trends in oil and gas exploration and production activity including: […]

Is Oil Heading For $100?

Yesterday, in writing about the rise in oil prices–which have roughly doubled in a year–I noted, “No one saw it coming.”

As it turns out, a few people did see it. And now some of those seers are saying the recent “spike” is no spike at all, but the start of a long-term trend. It may be that the price of a barrel of oil is heading for $100, if not higher, by the end of the decade.

Forbes.com

Oil Shortages And Oil Prices What Should We Do?

Oil Shortages And Oil Prices What Should We Do? By Owen McShane October 19, 2004 Governments around the world are becoming increasingly focused on the rapid rise in oil prices. They wonder if these recent prices rises are simply short term responses to short term problems, or whether they signal the end of the era […]

China’s Quest for Oil

The Middle Kingdom can’t find enough oil to meet booming domestic demand—and the world is paying the price at the pump

….Today, however, output from China’s top four oil fields is in decline. By some estimates, the country’s current proven reserves will be depleted in as few as 14 years. Meanwhile, largely untapped petroleum pools believed to lie beneath western China’s desolate Tarim Basin are uneconomic to drill, even with prices at $50 a barrel….

Time Asia

Oil prices ‘could hit $60′

Crude Oil Rises to a Record Above $55 on U.S. Supply Concern

Crude Oil Rises to Record Above $55 on U.S. Supply Concern Crude oil for November delivery rose as much as 40 cents, or 0.7 percent, $55.33 a barrel, in after-hours electronic trading on the New York Mercantile Exchange and traded at $55.19 at 12:39 p.m. Singapore time. Prices have risen in 19 of the last […]

TRANSCRIPTS (Julian Darley on CNN)

News Anchor: The only answers to the energy problem are producing more or using less, but neither Bush nor Kerry is selling sacrifice on the campaign trail. The last President who did, Jimmy Carter, was trounced by Ronald Reagan.http://www.globalpublicmedia.com/TRANSCRIPTS/index.php?name=JULIAN%20DARLEY&origin=/&transcript=2004/10/CNN-fn.JulianDarley.Reporter-LouiseSchiavone.2004-10-13

Denmark causes international chill by claiming North Pole

Denmark has launched an extraordinary bid for ownership of the North Pole, one of the world’s last untapped sources of oil and natural gas. In recent decades the remote polar region has largely been left to a few explorers and tourists. Now, however, the effects of climate change have dramatically raised the stakes. Scientists estimate […]

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