Asian states to stockpile oil

MANILA Facing runaway oil prices and security concern, east Asian officials meeting in Manila are making emergency plans that include creating oil reserves and finding alternative sources for their energy imports.

bday

Army Guard on Food if Fuel Crisis Flares

Mark Townsend and Martin Bright Sunday June 6, 2004 The Observer Hundreds of troops will be deployed to defend vital supermarket depots in the event of fresh fuel protests in the autumn. Supermarkets have been told by Home Office officials to expect military assistance as part of draconian government plans to protect Britain’s economy from […]

Is the world’s oil running out fast?

“Asking other delegates – admittedly supporters of the peak oil theory – whether such a steep increase was feasible, the answers were unambiguous: “absolutely out of the question,” “completely impossible,” and “3 million barrels – never, not even 300,000.”

One delegate laughed so hard he had to support himself on a table.

Some recent figures tend to back up ASPO’s outlook.

North Sea production is declining at an increasing rate, having peaked in 1999.

Not at the predicted flat rate of decline of 7%, but gradually accelerating from 7% to 8.5% to 11%.

And the number of major new oil fields discovered around the world fell to zero for the first time in 2003, despite an obvious increase in technological expertise. ”

BBC

LUKoil discovered five offshore fields

Russian oil major LUKoil announced reserves in Russia’s sector of the Caspian Sea may compose total 33 billion barrels of oil equivalent.

Russia Journal

No one can predict the future, but the world contains enough oil to last beyond

“No one can predict the future, but the world contains enough oil to last beyond 2100. Only fools would try to anticipate what energy sources our descendants will use that far in the future.

Over the next several decades the world likely will continue to see short-term spikes in the price of oil, but these will be caused by political instability and market interference — not an irreversible decline in supply.
”

Houston Chronical

Herrera: Impressions from Berlin

“The concept that the world

OPEC hike ‘unlikely’ to dampen oil prices

Dr Fatih Birol, chief economist at the International Energy Agency, told Aljazeera.net that long-term oil prices would spiral because of the world’s overdependence on Middle East oil.

AlJazeera

OPEC Agrees Two Million Bpd Oil Increase

OPEC on Thursday agreed to raise oil output by two million barrels a day, eight percent, in a bid to ease crude prices from $40 a barrel, Qatari Oil Minister Abdullah al-Attiyah told Reuters.

The deal by the 11-member Organization of the Petroleum Exporting Countries also promises to add a further 500,000 barrels a day in August, Attiyah said.

But the cartel will meet again on July 21 to review policy.

Reuters

Why oil prices are stubbornly high

“Thus energy analysts believe that OPEC will have to back up its statements by pumping oil out of the ground. “It will take a physical presence of oil to deflate expectations,” says Michelle Billig, a fellow at the Council on Foreign Relations and a former analyst at the Department of Energy.”

Christian Science Monitor

Global Climate Change and Peak Oil

One of the most dramatic findings of the report concerns the shrinkage of what had been permanent ice shelves inside the Arctic circle. Satellite studies conducted by NASA have shown more recently that Arctic perennial sea ice has been decreasing at an average rate of 9% per decade.14 The above satellite photos demonstrate just how dramatic this retreat is.

From the Wilderness

Sustainable oil?

Analysis of seismic recordings revealed the presence of a “deep fault” at the base of the Eugene Island reservoir which was gushing up a river of oil from some deeper and previously unknown source.

worldnetdaily.com

Oil and grains soar, CRB nears record

Qatari Oil Minister Abdullah al-Attiyah said the “fear factor” was inflating crude costs by $9 a barrel.

Forbes.com

ASPO Updates

The interest for Peak Oil is growing dramatically. A year ago you might find one or two articles per week. Today it

Marketplace Report: Oil Supplies

NPR’s Madeleine Brand talks to Marketplace’s David Brown about how the latest terrorist attacks in Saudi Arabia could affect oil supplies.

Oil at $80 a barrel is just around the corner.

The terrorist attacks in Saudi Arabia are giving new life to the idea that the world is heading into an era of permanently high oil prices.

Canada.com

Many Oil Exporters to Hike Production

Leading oil exporters outside the Middle East have pledged to boost production to offset soaring world prices

N.Y. Crude Oil May Rise as Saudi Attack Raises Supply Concern

June 1 (Bloomberg) — Crude oil may rise in New York on increasing concern supply from Saudi Arabia, the world’s largest exporter, may be disrupted after the third attack this month against foreigners left 22 dead over the weekend.

Bloomberg

Saudi Arabia: Oil-Sector Experts Try To Gauge Impact Of Terror Attack

Al-Muqrin has repeatedly issued calls for the Saudi royal family to be overthrown. But until last year, the Saudi government played down evidence that Islamic radicals were posing a threat to security. That has changed since a series of deadly attacks — including last month’s attack at the Yanbu petrochemical complex. Saudi officials are now seeking to reassure the global markets that their oil pipelines, terminals, and processing centers are protected.

Radio Free Europe

Don’t Gripe About Gas Prices

Oil prices, at their highest levels for more than a decade, are trending upward. Natural gas prices are going out of sight. Yet more blips in the ups and downs of fuel costs? Or, as many believe, the start of an era of ever-more-expensive energy? Globe And MailIndustry magazines have been tracking a controversy about […]

The Empire at Oil’s End

The oilmen in the White House, of course, have the best view of the lush terrain on the far side of Hubbert’s peak. No wonder, then, that a map of the “war against terrorism” corresponds with such uncanny accuracy to the geography of oil fields and proposed pipelines.

Alternet

A Saudi Riddle

A Saudi Riddle
Billmon – Whiskey Bar
May 30, 2004

Which is this:

In yesterday’s attacks in Al Khobar, as in the attack earlier this month in Yanbu, the terrorists went after people, not infrastructure. And yet, if ex-CIA agent Robert Baer is right, they could have done far more damage and sown far more chaos if they had gone after the delicate web of pipelines, pumping stations and terminals that is currently squirting 8.35 million barrels of crude a day into the global oil market.

Here’s Baer’s take, from his book Sleeping With the Devil:

http://billmon.org/archives/001490.html

Solar Concentrators Tackle the Hydrogen Test

SHEC’s unit uses a system of mirrors to concentrate the sun’s energy much like a satellite dish concentrates data frequencies to a central receiver. In the company’s previous press release from last June, SHEC said their unit could concentrate sunlight by a factor of 5,000 times.

SolarAccess

Big oil collides with traditional life in Saudi desert

Saudi society was molded by the self-sufficient and egalitarian virtues of desert life, yet today it’s in thrall to fast food, cell phones and gas-guzzling SUVs. The country’s oil wealth has paid for an imported culture of conspicuous affluence, typified by modernistic shopping malls and highways worthy of southern California.

Chicago Sun Times

Coal May Shine Again

Future of Natural Gas Supply

This paper by Jean Laherrere contains an enormous amount of data and forecasts of future productions and discoveries of natural gas.

PeakOil.net

3rd International Workshop On Oil & Gas Depletion

280 came to the 3rd International Workshop On Oil&Gas Depletion

Berlin, Germany, May 25-26 2004

Organised by the Association for the Study of Peak Oil&Gas

more

Alaska ranks as priciest place to produce oil

KENAI–Alaska remains the most costly place on the planet to produce oil and gas but the state could take steps to attract major oil company investment, according to the head of the Alaska Oil and Gas Association.

more

Economy to ride out oil turmoil

China still isn’t big enough to really matter

Encourage House to Include Energy Tax Incentives in FSC/ETI Bill

Dear Electric Drive Advocate: The Senate recently approved the Foreign Sales Corporation/Extraterritorial Income Act (aka the Jump Start Our Business Strength (JOBs) Act – S. 1637) and the House Ways and Means Committee is currently considering its version of the measure. The Senate-passed bill includes tax incentives to assist consumers in purchasing battery electric, hybrid […]

‘Inadvertant shutdown’ occurs on Mars oil pipeline in the Gulf of Mexico

The Shell spokeswoman said that the company would not speculate on how the markets might react to the current shut-in or what effect, if any, the incident would have on the White House’s controversial plans to fill the Strategic Petroleum Reserve by mid-2005.

The loss of oil production from Mars, however, could have obvious political implications for plans to refill the SPR because the program, since the administration of former President Bill Clinton, relies on royalty oil from the gulf.

http://ogj.pennnet.com/articles/web_article_display.cfm?ARTICLE_CATEGORY=GenIn&ARTICLE_ID=205205

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