OPEC: Quotas “Obsolete”

OPEC, the source of about 40 percent of the world’s oil, is letting inventories accumulate by ignoring its own output quotas, which are “now obsolete,” the group’s President, Sheikh Ahmad Fahd al-Sabah, said yesterday.

The Global Struggle for Energy

From Washington to New Delhi, Caracas to Moscow and Beijing, national leaders and corporate executives are stepping up their efforts to gain control over major sources of oil and natural gas as the global struggle for energy intensifies. Never has the competitive pursuit of untapped oil and gas reserves been so acute, and never has so much money as well as diplomatic and military muscle been deployed in the contest to win control over major foreign stockpiles of energy.

Energy Headlines – May 10, 2005

Depletion key to investment outlook / Confiscation of gold? / US Rep.Bartlett continues warnings / Doubts about 4Q supply / Oil exploration & development costs ‘increased considerably’ 2003-04 / Costs of traffic congestion in US worsen