Light Sweet Crude Chart

Light Sweet Crude Chart
A Picture is Worth a lot of talk, don’t miss this picture.
Bloomberg

Summary of Weekly Petroleum Data for the Week Ending October 8, 2004

US domestic crude supply dips below 5 mb/d.DOE-EIA

ConocoPhillips sees structural change towards higher prices in oil industry

HOUSTON, Oct 14 (Reuters) – The chief economist for oil major ConocoPhillips (COP.N: Quote, Profile, Research) told a business audience on Thursday that oil prices are likely to stay high because of a “permanent structural change” in the industry. http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh87552_2004-10-14_23-50-20_n14211832_newsml

Top 50 oil companies

Energyintelligence: Top 50 oil companiesEnergyintelligence

Frost: Combating ‘The End of Suburbia’

As America plunges like a runaway stallion toward what will probably be the most important election in our lifetimes, it’s hard to write about anything else. But a DVD we saw last week at an interesting venue – a converted warehouse named 38 Cameron for its North Cambridge street address – is screaming for my […]

FBI shuts down 20 antiwar web sites: an unprecedented act of Internet censorship

THE ENERGY CHALLENGE 2004 — Wind

Whatever you think you know about wind, especially the negatives, if it was based on data and analysis prior to 2000 you can be pretty sure it’s wrong. Wind has made enormous strides in the last 15 years. In 1992 the average size of installed wind turbine was 200 kW. In 2002 it was 1.4MW. […]

Today on Canada’s Business Report…Peak Oil and the Oil Crisis

host Donna Guzik finds out about Peak Oil theory, a movement that has been
gaining momentum as the price of oil hits record highs.

Canadian Business Report

Growing militarization of our oil dependence

RISING GASOLINE prices and tight global supplies have given fresh impetus to claims that the world is fast approaching the moment of “peak” oil production, beyond which we can expect declining energy output and economic decline. While there is no doubt that global oil output will attain peak levels, the current rise in prices reflects […]

Kerry Calls for

Kerry: Bush’s Iraq ‘Mismanagement’ Hikes Gas Prices Oct 11, 3:00 PM (ET) By Patricia Wilson … Speaking in New Mexico, Kerry reminded voters that the state was home to the Manhattan Project that marshaled the knowledge and technology during World War II to build nuclear weapons. He called for a similar effort to push scientists […]

Asian Cloud

http://www.grist.org/news/daily/2004/09/28/1/ Death, Be Not Cloud Asian Cloud menaces world’s most populous continent In the new book Feeling the Heat, Jim Motavalli describes a phenomenon that’s likely to give you nightmares. Seriously, just stop reading. Okay, we warned you: Hovering in the atmosphere over the Indian Ocean and other Asian waters, and covering some 10 million […]

New look at abandoned wells

Once abandoned wells are drawing attention in the US.

http://news.ft.com/cms/s/0ff7d832-1ada-11d9-9fe4-00000e2511c8.html

Opec won’t raise output despite high oil prices

Opec won’t raise output despite high oil prices BALI (Indonesia) – The Organisation of Petroleum Exporting Countries (Opec) has no plan to raise output despite record oil prices, the group’s president said on Friday. This is getting funnier by the minute… Enjoy. Cheers, Opec won’t raise output despite high oil prices BALI (Indonesia) – The […]

Andrew McKillop: Energy transition and final energy crisis

For oil, the myth of OPEC always being the ‘supplier of last resort’ has in 2004 already been discredited if not finally destroyed. Soon after the present and short-term ‘price crisis’ … which can only intensify in the 2005-2008 period … and within at most 10 years, both oil supply and natural gas supply will enter into constant and terminal decline, due to physical depletion.

VHeadline News

We’re Back…

As many of you know, peakoil.com experienced an outage recently, and was unavailable for 4 days.

As oil & gas prices have surged recently, so has mainstream attention to this growing problem. This has resulted in websites like peakoil.com growing at an exponential rate, as more and more people seek an answer to the question of what’s driving higher oil & gas prices.

This growth quickly outstripped our former host’s ability to handle the growing traffic, and along with a series of technical mistakes by this host, caused peakoil.com to be disabled.

The quick action, technical expertise, and dedication of the sponsors of this site turned this around within 48 hours, and PO.com is back online!

We received a massive and inspiring swell of support from our members & guests over the last 2 days, and we want to thank everyone for their kind comments, and offers of support.

It seems clear from the volume and passion of responses to our absence, that this global community has grown beyond the confines of a simple interesting website, into an important and meaningful resource; a kind of digital “watering hole” which the community not only wants… but demands.

We hear you… and we know you’re not kidding around… & neither are we. We renew our commitment to continue servicing the needs of this “coalition of the informed”; the global Peak Oil village.

The staff at peakoil.com wishes to express it’s thanks to everyone for making this site possible, and communicate our sincere commitment to promoting awareness & education of global hydrocarbon depletion issues.

As is the case for many movements, this site had a rather humble beginning, and is the result of the modest wish of a single man, to create a place where anyone can learn & contribute to the debate. Kudos go out to this site’s creator, Dan C. for conceiving of, and providing this place, which has become so important to many of us.

We continue to believe that this site is most valuable because of it’s only affiliation…that of humanity. There is only one goal or objective here; promoting awareness of depletion issues.

We have no illusion that we can solve our energy problems ourselves, and so are committed to putting this information into the hands of those who can… & that’s you.

For me personally, it’s a rather simple decision. After seeing my own fears for our collective future mirrored in the “digital eyes” of hundreds of people around the world, it’s really no choice at all. I love my son & my family, our community and country; & our world more than I can express in simple words. The best I can manage is this simple gift.

peakoil.com

Richard Heinberg’s Latest Museletter (by permission)

A note to readers: These days I am working on a completely revised edition of The PartyMuseLetter 150 / October 2004 The Peak Is Nigh Everyone knows that oil prices have grown volatile in recent months. Explanations include rising demand from China and supply limits resulting from pipeline sabotage in Iraq. Some commentators note that […]

Oil Fantasies

The recent surge in oil prices to roughly $50 a barrel teaches some useful lessons. One is that surprises happen. A year ago futures contracts predicted today’s price would be $25. A second is that the economy has grown less vulnerable to oil “shocks.” Compared with 1973, we now use almost 50 percent less energy […]

Finding Oil Under Salt

“The easy oil has all been found. The next stage of exploration will be more complex,” says Gerchard Pfau, BP’s team leader of advanced imaging. “In the past, people could almost drill in random locations and find oil. Now we have to go to more complicated geological structures.”

Forbes

The Hydrogen Economy

By Alice Friedemann
September 2004

The energy literate scoff at perpetual motion, free energy, and cold fusion, but what about the hydrogen economy? Before we invest trillions of dollars, let

Post-Carbon Institute Newsletter

Letter from Julian Darley High Noon Website New End of Suburbia Website Crude Tour with Sonia Shah New at Post Carbon Books Post Carbon Institute at Solfest Relocalization Platform Join Post Carbon Institute at The Green Festival Creating the Post Carbon City Peak Oil and Community Solutions Conference Getting Started on Relocalization ISSUE #3, October […]

China’s thirst for oil gets into top gear

China is not the biggest oil consumer in the world, that prize goes to America, nor is it the biggest importer – which is also the USA. What China outdoes the rest of the world at is the growth of its appetite. Ten years ago China imported no oil at all. Last year it overtook […]

Abiotic Oil: Science or Politics?

Ugo Bardi is Professor of Chemistry at the University of Florence and the Laboratory for the Physical Chemistry of Surfaces. He also represents the Italian branch of the Association for the Study of Peak Oil and Gas. Ugo Bardi offers a simple assessment of the abiotic theory. His logic is so clear, and the culmination […]

Oil’s not well with the world

AS the finance ministers and central bank governors of the G-7 sat down to dinner in Washington on Friday night, meeting for the first time with their Chinese counterparts, the price of oil had just closed at its highest ever level, $US50.12 a barrel.

‘Oil prices remain high and are a risk,’ said a G-7 official. There was now ‘a recognition that oil was scarcer than was thought a few years ago’. These are ominous words for a G-7 official.

They even tend to corroborate the ‘alarmist’ view that the world is running out of oil and that high prices are here to stay — a structural phenomenon rather than a spike.

The Austrailian

Is the age of oil coming to an end?

With crude at US$50 a barrel and producers operating near maximum output, fears are widespread that the world is on the cusp of a major oil shock. In a four-part series beginning today, the National Post looks at what lies ahead for a world increasingly dependent on an increasingly scarce resource. EnergyBulletin.net

Oil tops $50 and hangs on

From HoustonChronicle: “According to the International Energy Agency, the world will need 4.3 million more barrels of oil every day by the end of next year. The demand increase comes on top of the 83 million barrels per day being consumed worldwide. Simmons wonders where the oil will come from.” HoustonChronicle

G7 backs Brown plan to ease the oil crisis

The G7 call broadly followed a four-point plan outlined by Mr Brown to deal with the threat. The chancellor called on Opec, the producers’ cartel, to pump more oil. He also said the market needed better information about oil supplies, higher investment in new fields and all countries should push for greater energy efficiency.

Guardian Unlimited

Why Africa keeps fighting over oil

Peace talks continued in Nigeria Thursday between the government and the leader of a militia group.

By Michael Peel | Correspondent of The Christian Science Monitor

LAGOS, NIGERIA

U.S. Politician in House: No Oil shortages.

WASHINGTON – As oil prices climb to record highs above $50 per barrel, some have asserted that we are “running out” of this resource. In truth, we are not running out of oil in America. We can safely increase domestic production by at least 17.2 million barrels per day by 2030. Source

US, China face off for Saudi oil supplies

Production Management, Security of Demand, and Market Stability

Middle East Economic Survey by Adrian Lajous The following paper was presented at the OPEC International Seminar, Vienna, 17 September 2004. The author is Chairman of the Oxford Institute of Energy Studies. The prevalence of spare capacity in the global crude oil market, as well as the willingness and ability to make effective use of […]

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