How high will oil prices go?

A long-simmering debate in the oil industry over the long-term outlook for oil production is heating up with every fresh rise in the price of crude. With supplies squeezed, demand continues to grow By John W. Schoen Senior Producer MSNBC Updated: 7:52 a.m. ET Sept. 28, 2004 The reasons for the recent relentless rise in […]

Oil: The beginning of the end?

Land-use decisions largely favor energy industry

Development holds reins in the Wild West “The government has approved tens of thousands of wells for coal-bed methane and natural gas on BLM lands in Wyoming’s Pinedale region and in the Powder River Basin, which straddles Wyoming and Montana. New plans would allow thousands of additional wells, to the dismay of many longtime residents […]

Oil revenues: The $300 billion bonanza

The impact of the extra oil revenues on international financial markets is hard to assess. Flows of funds are never easy to trace, especially when their sources are keen to keep them quiet. There are dark whispers in oil circles that cartel members, especially Saudi Arabia, want to keep much of their new money out of American banks and markets because of

Oil and Gas: Facing the Music Before it Stops

Once past the peak of world production, there will never again be enough oil in the pipeline to satisfy today’s level of demand. There will be rising prices, periodic shortages, inflation and recession – stagflation, as we used to hear in the 1970s. But unlike the oil shocks of the 1970’s, these trends will go on for decades until oil and natural gas are no longer significant as energy resources.

Democrats.us

Putin and Wen meet to discuss oil, security ties

Price of oil will keep going up, expert says

FORT WORTH – Conventional wisdom that oil prices would decline this year “has been proved wrong” and recent $40-plus prices are likely to be a new plateau, an industry veteran said Wednesday at Texas Christian University.
Houston energy banker Matthew Simmons, whose company has worked more than 500 energy deals since its founding in 1974, said at a breakfast meeting at the M.J. Neeley School of Business that world demand will require an extra 4.3 million barrels of oil within 15 months, and that “nobody knows how we’ll even come close to meeting that.”

Ft. Worth Star-Telegram

Oil Holds Above $48 Despite SPR Loans

Army

Number of small outposts grows By Robert Burns Associated Press The U.S. military is quietly expanding its network of small outposts worldwide to help fight terrorism in Middle East and African hotspots, even as it prepares to send home tens of thousands of Cold War era troops from bases in Germany and South Korea. Army […]

Oil industry faces a stark choice – Financial Times

This failure to find easily exploitable oil leaves the industry with a stark choice. Either companies pursue challenging, unconventional ventures with high overhead costs – which could prove unprofitable if large volumes of cheaper oil come to the market – or they continue to push to invest in countries such as Russia and Saudi Arabia, […]

Oil and Gas: Facing the Music Before it Stops: Hubbert and Odum

I’m glad to see the surge of interest in the coming peak of world oil production, even though the prospect is grim… …Most of the new information stems from the work of two little-known scientists, both deceased: petroleum geologist M. King Hubbert and systems ecologist Howard Odum. EB

Gazprom looks to the world stage

From FT: “By merging natural gas monopoly Gazprom and Rosneft, the last Russian state-owned oil company, the Moscow government has created the country’s most powerful energy group – giving the Kremlin a powerful lever in dealing with a core economic sector.”http://news.ft.com/cms/s/91d927e4-0b6b-11d9-b403-00000e2511c8.html

China’s crude oil imports jump over 37%

China’s crude oil imports jump over 37% Fuelling world prices, China’s crude oil imports jumped 37.4 per cent in August from the same month a year earlier to 9.33 million metric tons (70 million barrels), the government reports. The increase, equivalent to an average of 2.21 million barrels a day, brought the country’s crude imports […]

It’s The Crude, Dude: War, Big Oil, And The Fight For The Planet

LINDA MCQUAIG
“U.S. oil companies just happened to have billions of dollars they wanted to invest in undeveloped oil reserves”
“prior to the U.S. invasion, foreign oil companies were nicely positioned for future involvement in Iraq, while the major U.S. oil companies, after years of U.S.-Iraqi hostilities, were largely out of the picture.”
Toronto Star

Coming clean about nuclear power – Nature

Politicians will continue to make all sorts of promises, but we will only be able to fight climate change if we address both the benefits and pitfalls of nuclear power, says Philip Ball. http://www.nature.com/news/2004/040913/full/040913-23.html

Time to pump cash in, not out

The problem is there is nothing to buy. The oilfields of the North Sea, Texas and Alaska are drying up. There are interesting prospects in West Africa and the Gulf of Mexico, but the big opportunities are in Saudi Arabia, Kuwait, Iran and Iraq, tantalising and unavailable.

Times Online

Offshore production platforms missing after hurricane

At least three oil production platforms were missing and others were damaged after hurricane Ivan swept over the Gulf of Mexico this week before making landfall along the Alabama-Florida shoreline.http://www.canada.com/businesscentre/story.html?id=a45bc6a1-077a-43b2-9942-e8dc804388c4

New Forecast Shows Oil Supply-Demand Tipping Point Within A Decade

New Forecast Shows Oil Supply-Demand Tipping Point Within A Decade World oil production will likely not be able to meet global demand as early as the middle of the next decade, according to a new study by Washington-based consultants PFC Energy. “We’re producing more than we find by a considerable amount,” Mike Rodgers, a senior […]

US to fill SPR by 2005

In the event the United States is confronted with a serious disruption in oil supplies, the Strategic Petroleum Reserve can provide an emergency supply of crude oil. The oil is stockpiled in underground salt caverns along the Gulf of Mexico coastline. President Bush has ordered the Reserve to be filled to its full 700 million […]

Wind Power Falls Under $0.01/kwh

“as of June [the price of wind power] dropped to 1 cent per kwh.” Even without further expected improvements in turbine technology, the U.S. would now need to use less than 3% of its farmland to get 95% of its electricity demand satisfied by wind power.

Slashdot

Cheney voices support for coal

With more than a dozen coal miners standing behind him under a

How long will the world’s oil last?

When the modern oil industry was born 145 years ago in Titusville, Pa., few people worried about just how long petroleum would keep flowing out of the ground. But since production peaked in the United States in 1970, a growing number of geologists, economists and industry analysts have been pondering the question of just how long worldwidesupplies will keep up with growing demand. And some are predicting that global production may peak as soon as next year.

MSNBC

Coping with Oil Price Volitility

Slide 12 shows development of OPEC spare capacity.

EnergySeer PDF

Oil Companies Go Slow On Exploration, Output Despite Spike In Crude

Note last several paragraphs quoting Simmons. They can’t bring themselves to admit companies are not spending money because they don’t want to drill dry holes but are coming close by quoting Simmons. He is really saying the peak will have occured by 09.

Yahoo

China’s Stockpile of Oil Helps to Bolster Prices

Evidence is mounting that China is buying more oil than it consumes, raising fears that oil hoarding may be supporting the current high price of crude. The signs of aggressive Chinese stockpiling emerge from research by Merrill Lynch, the investment bank, which suggests that China is importing crude and refined products at twice the rate […]

Solving Bush

Thirteen years ago Papa Bush employed a similar tactic during the Persian Gulf War. Oil prices crashed.

Sometimes politicians have to act like short-term traders and weigh in when least expected. In the political mind

Turkey Oil – a rose by any other name…

Citizens ask council to get tough on RES By Dennis W. Sowers Of The Press Staff Local residents drew the line in the sand Tuesday night, asking the Carthage City Council to keep Carthage and its RES plant foul odor-free. More than 50 people, accompanied by 600 signatures, stated emphatically and emotionally that the odor […]

Major oil, natural gas findings reported

China National Petroleum Corporation Xinjiang Oilfields Company has announced major breakthrough in exploring and determining high-yield petroleum and natural gas flows for industrial use in four new prospecting wells

China Daily

B.C. plan to tap natural gas in controversial coalbed flops

Western Canada’s conventional natural gas has been in decline since about 2001/2002. The National Energy Board of Canada has placed great hope on coal bed methane to offset this decline. BUT, according to the National Post, no bids were received for coal bed methane rights in British Columbia as industry thought it would be too costly to extract even at high prices. However, exploration for coal bed methane continues in BC. by the majors. Alberta has better potential.

Canada National Post

Why Is Mike Ruppert Promoting the ‘Peak Oil’ Scam?

Just when the Peak Oil message seems to be entering global consciousness, it is being attacked as pure politics. Why? In the foregoing, the author uses the shut down of a Shell Oil refinery in Bakersfield California as evidence that oil companies are engineering an energy scarcity for the purposes of reaping huge profits. ————————————————————- […]

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