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Schlumberger Reports 3rd-Quarter Profit of $318.2 Mln
Schlumberger Ltd., the world’s second- largest oilfield-services company, had third-quarter net income of $318.2 million after a year-earlier loss of $55.3 million as oil producers boosted spending. Bloomberg
Nigeria Strike – Round 2
National Executive Council (NEC) of Nigeria Labour Congress (NLC), comprising 29 affiliate unions, would meet next week Tuesday to receive and analyse reports from all unions, states and national offices of NLC on the four-day warning strike of October 11-14. This Day News Countdown to Expiration of 2-Week Break NLC Orders Mobilisation for Fresh Strike […]
Is the Bush Administration Supressing the Price of Gas?
With a bit of analysis, we see that if the price of gas were to catch up with the price of oil in percentage terms (as it always has in the past), then a gallon of gas would be about $2.60 per gallon! And check this out, it seems that Bush’s approval ratings seem to […]
A Rebuttal of Thomas Gold’s Claims for Abiotic Oil (summary only)
by Jean Laherrere edited by Dale Allen Pfeiffer The following paper is a critique of the writings of Thomas Gold, written by Jean Laherrere. It is a scientific dialogue and contains many technical terms and references which may be nearly unfathomable to the layperson. However, it is a very important discussion because it lays bare […]
Petroleum Expert Tells It Like It Is
At the Gulf Coast Economics Club’s monthly meeting the audience was treated to some very sobering thoughts. This month’s speaker was Dudley Hughes, President of Hughes South Corporation of Jackson, Mississippi. Mr. Hughes is considered one of the world’s foremost authorities on Oil and Gas Exploration. Mr. Hughes opened his talk by stating that the […]
U.S. leading indicators fall for 4th month
This must be the first time in a long series of presidential elections! Normaly the indicators go up as to reelect the ‘pro-busines’ guy. Does that mean things have gotten so interesting, that during the last three months before the election the president and his friends cannot tweak/impact the data? http://netscape5.marketwatch.com/news/story.asp?siteid=netscape&dist=netscape&guid=%7B337687A5-05FA-4EDA-BE79-149159B0A746%7D
Alfred E. Greenspan: What Me Worry?
In the past week, the Federal Reserve Chairman has given two speeches in which he has said he is not particularly concerned about oil prices, or record consumer debt, or inflation or a recession. Nor is he worried about high home prices, a surge in personal bankruptcies or the prospect of inflation. Let’s be clear: Whatever it is that might be worrying Greenspan is not worrying Greenspan.
Why Carbon Fuels Will Dominate The 21st Century’s Global Energy Economy
In spite of oil’s relative decline as an energy source the industry will, nevertheless, be larger in 2100 than it was in 2000.
Will oil woes lead to Asian EU?
The Straits Times (Singapore) – Oct 21, 2004 By Leslie Fong, Editor-At-Large What are the chances of China, Japan and other Asian countries banding together to form a political and economic entity much like the European Union (EU)? Near zero, many would say. Such is the antipathy between the Chinese, Koreans and Japanese that it […]
Top US Airlines Suffer Heavy 3Q Losses
Three of the top four US airlines on Wednesday disclosed heavy third quarter losses underlining the perilous state of the US aviation industry.
Prices Soar As Heating Oil Stocks Shrink Again
NEW YORK (Dow Jones)–Oil futures gained more than a dollar Wednesday, after the U.S. government reported inventories of heating oil and diesel fell for a fifth straight week, fueling concerns about supplies this winter. 10-20 08:04: OIL FUTURES:Prices Soar As Heating Oil Stocks Shrink Again DJ OIL FUTURES:Prices Soar As Heating Oil Stocks Shrink Again […]
US DOE Oil Data: API-DOE Comparison For Wk Ended Oct 15
US DOE Oil Data: API-DOE Comparison For Wk Ended Oct 15 Huge discrepancies between DOE and API for the following: gasoline stocks distillate stocks crude oil imports crude oil stocks Whom do you believe? Check yourself.10-20 07:51: US DOE Oil Data: API-DOE Comparison For Wk Ended Oct 15 DJ US DOE Oil Data: API-DOE Comparison […]
Most corruption in oil countries
Transparency International said it found few surprises or major changes in its survey of 146 countries from last year
Decline in oil prices just fleeting trend, experts say
Decline in oil prices just fleeting trend, experts say Wednesday, October 20, 2004 BY BRAD FOSS Associated Press The two-day decline in oil prices, with crude futures briefly dipping below $53 a barrel yesterday, is a temporary trend that is likely to reverse itself before too long, analysts and traders said. The pullback came in […]
PO = Y2k? We ‘ve heard it all before
On December 31, 1999 when the clocks ticked for the last time in the old year and then proceeded to quite happily keep ticking their chronological way into the new, hundreds of millions of people around the world rejoiced as they welcomed the 21st millennium. At the same time, thousands of people looked at their […]
Beyond the limits of fossile energy
Beyond the limits of fossile energy www.shell.nl Speech of Jeroen van der Veer – President of the committee of directors of royal/Shell group – at occasion of 25e the symposium van der Veer foundation in Leiden. Thanks to Smiley for the translation. Beyond the fossil energy of today lays the energy of tomorrow. Although a […]
Trouble in the World’s Largest Oil Field-Ghawar (Postscript)
(From the postscript) As the oil was extracted, a formerly producing well would be turned into an injector (a producer would become an injector), so you will see what it looks like today after lots of producers have been turned into injectors. Water is injected into the carbonate reservoir in order to maintain reservoir pressure […]
Greenspan’s 2010 Space Odyssey With Oil Futures
Oct. 19 (Bloomberg) — Federal Reserve Chairman Alan Greenspan sent his staff of economists on an oil-and-gas exploration mission in preparation for a speech last week to the National Italian American Foundation in Washington.
Blast from the past – Cato says $30/bbl unlikely
But what about a more modest cutback; say, a move to bring oil prices to $30-40 a barrel? Such prices are always possible, but there’s little chance that OPEC could engineer them in today’s economy. Demand is slumping because of a global economic downturn and major non-OPEC producers — Mexico, Norway, and Russia — do […]
Oil’s slippery slope
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The supply of oil is, of course, finite. And there is fear that the era of peak production — the time when about half of the reserves are gone — is approaching. |
Recession clouds gather on the horizon
The world economy is currently dependent on the industrialised countries’ consumers purchasing goods, especially Americans. Yet the US is one of the countries where rises in oil prices will hit hardest.
Oil to hit US$100 a barrel, says psychic
OIL prices will skyrocket to US$100 per barrel, but the rich in Trinidad and Tobago will continue to get richer and the poor poorer. Yesenia Gonzalez, the 44-year-old Venezuelan psychic, is so confident this prediction would materialise in 2005, that she said she was prepared to put her reputation as a “top international psychic” on […]
THE SHORT PATH TO OIL INDEPENDENCE
Earth Policy Institute: If over the next decade we convert the U.S. automobile fleet to gas-electric hybrids with the efficiency of today’s Toyota Prius, we could cut our gasoline use in half. No change in the number of vehicles, no change in miles driven—just doing it more efficiently. Earth Policy Institute
UK boost for biomass fuel crops
The UK is to encourage the production of biomass, crops grown specially for use as environmentally-friendly fuels. The government is setting up a task force to stimulate biomass supply and demand, and offering a range of grants.
USA: Production fell 15% while demand rose 3%
Rising prices have been driven by tight supplies. The American Petroleum Institute reported Wednesday that U.S. oil production fell 15 percent in September to the lowest monthly level in more than half a century, led by sharp declines in output from Alaska and the hurricane-hit Gulf of Mexico region. In the same month, the API […]
Doomsday Rhetoric Ignores Signs of Growth in Global Production Capacity
IHS Energy: Under the radar of headline-grabbing issues, though, is evidence that the current dire trends may not be long-lived. On the basis of bottom-up tracking of significant worldwide liquids development projects and assessment of oil-depletion rates, IHS Energy forecasts that global output capacity will increase to approximately 85.5 million BOPD by 2008. Much of […]
Hydrogen Car Powered By Solar Panels
A US high school has remarkably developed and built a truck which runs on hydrogen created by electrolysis using energy from solar panels. However, those optimistic about the prospects of such ‘green’ vehicles should take note that the system only produces enough hydrogen to power the truck for 1.5 miles per day, and this requires […]
Plastics hit by oil price hikes, supply shortfalls
CHRIS CLARK: Paying $1.10 for a litre of petrol is bad enough, but the impact of high oil prices doesn’t stop there. When oil goes up, so does the cost of another of life’s essentials, as Stephen Long explains. STEPHEN LONG: When it comes to rising oil prices, this is only part of the story. […]
Hydrogen Economy looks out of reach
Not much new here, article mostly of interest because it reports analysis done by economists that basically say forget about the hydrogen dream. Not the usual source for such analysis.
International Energy Agency raises oil demand forecast
Highlights of the latest OMR dated: 12 October 2004 The global oil demand forecast has been raised by 240 kb/d for 2004, to 82.4 mb/d, but trimmed by 70 kb/d for 2005, to 83.9 mb/d. The cut reflects expectations of slower economic growth and the impact of high oil prices on demand and the economy. […]
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- China’s peak oil demand bombshell eviscerates Danielle Smith’s energy strategy
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