Building a world of
resilient communities.

MAIN LIST

 

Peak oil, prices, and supplies - Aug 6

Click on the headline (link) for the full text.

Many more articles are available through the Energy Bulletin homepage


Shell takes to high seas to escape oil gloom

Danny Fortson, The Times
It was a week of unrelenting gloom for the oil industry. As one boss after another revealed unprecedented plunges in profits, tens of billions of dollars were wiped off company values. They warned of savage jobs cuts to come and none ventured a guess as to when the recession might end. All is not well in oil-land.

Yet it was a largely ignored announcement by Shell that illustrates the depth of the probems facing the industry. The company approved a plan to build a fleet of floating natural gas plants. Each will be twice the length of a Royal Navy aircraft carrier and weigh 200,000 tons. They will sail to gas fields located either so far out to sea or in such environmentally sensitive areas that the pipelines and surface infrastructure required make them unviable. Until recently, the idea was dismissed.

“We’ve been looking at this for more than a decade,” said Jon Chadwick, executive vice-president of Shell’s Upstream division. “But in the last couple of years, things have changed.”

Liquefied natural gas (LNG) plants, which extract gas from deep underground and purify, compress and superchill it to liquid form, are expensive and technologically complex. One can easily cost $4 billion (£2.4 billion). Chadwick declined to say how much it will cost to make LNG plants seaworthy, but shipping sources say the price could top $6 billion...
(2 August 2009)



OPEC unlikely to cut oil output in Sept - delegates

Reuters
OPEC is unlikely to cut oil output further at its meeting next month if oil prices remain around current levels, two delegates from the producer group said on Tuesday.

"It is hard to predict now, but I don't think there is a need to do anything," said one of the delegates, who declined to be identified. "The market is OK."...

..."How can you cut with this economy? The price is going up and down. It's still below $75. But if that is because of the economy, how can OPEC cut?
(4 August 2009)




The Inevitable Rise in the Price of Gasoline
(audio)
Krys Boyd, KERA (North Texas Public Radio)
How high will gas prices go and is there an up side to increasing energy costs? We'll spend this hour with Forbes staff writer Christopher Steiner, whose new book is $20 Per Gallon: How the Inevitable Rise in the Price of Gasoline will Change Our Lives for the Better
(3 August 2009)
Suggested by EB contributer westexas

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.


Fracking and Health: What we Know from Pennsylvania's Gas Boom

Tensions between economic development, energy policy and environmental and …

Peak Oil Review: A Midweek Update - 24th Aug 2016

 A midweek update. It has been a volatile three days for oil with …

How We Went on an Energy Diet, and What We Lost (and Gained!)

In which I reveal the changes in our household energy usage from 2003 …

Five Billion Years of Energy Supply: the "Stereosphere" and the Upcoming Photovoltaic Revolution

Both the biosphere and the stereosphere use solar light as the energy …

Peak Oil Review - Aug 22 2016

 A weekly roundup of peak oil  news, including: -Oil and the …

Limitless imagination and physical limits

How do we distinguish those ideas that are forever going to remain in the …

Some Reflections on the Twilight of the Oil Age (part III)

The impact of the Tooth Fairy Syndrome is all the more felt in the main …