Opec has no capacity to lift quotas, says Algeria
Opec does not have the oil production capacity to enable it to lift supply quotas at next week’s meeting in Iran, Algeria’s Energy Minister said yesterday.
Middle East: Demand for power and water to go up
Demand for power and water in the Middle East is expected to skyrocket over the next ten years as rapid economic development, construction and tourism place an increased burden on the region’s infrastructure, experts averred.
US report acknowledges peak-oil threat
The Hirsch report on “peak oil” is unprecedented in US government circles. It is not just the existence of the report itself that is such a landmark in the current oil debate. Its conclusions also pull no punches.
IMF ‘wants more spare Opec oil’
London : The International Monetary Fund will recommend that Opec more than double its spare capacity to cushion the oil market against shocks, the Financial Times reported yesterday.
China’s Upward Mobility Strains World Resources
If per capita income in China grows at eight percent per year — a reduction from the red-hot pace of 9.5 percent it has grown since 1978 — it will overtake the current per capita U.S. income in just over 25 years, according to the latest analysis by the Earth Policy Institute (EPI).
Commodity Prices Climb to 24-Year High on Global Demand Growth
Commodity prices surged to a 24-year high, led by gains in copper and crude oil, on concern that global economic growth is eroding inventories of raw materials faster than supplies can be replenished.
US bullish in 2005 oil price forecast
The US Deptartment of Energy raised its outlook for oil prices this year to nearly $50 a barrel. This time last year, it predicted a price of only $29.40 in the forecast for 2005.
The Lean Economy: a vision of civility for a world in trouble
When it [Peak Oil] does hit, and when oil famine is joined with the other problems on the way, we will need to respond to it as to an avalanche. There is no point in trying to stop it; instead: survive; think; start again on safer ground and on totally different principles.
Australian politician goes on record about peak oil and gas
The first mainstream politican to take a stand on peak oil is in the Queensland Parliament (Australia). Bravo, Andrew McNamara!
Chavez: Our oil reserve does not belong to Mr. Bush
Venezuelan President Hugo Chavez on Monday accused the United States of planning to portray his country as a security threat in order to capture its vast oil reserves.
US: Housing mania will end in tears
Today’s tales of rampant real-estate speculation sound just like what we heard at the peak of the tech bubble. And we all know what happened when that bubble burst.
What if oil cost $200 a barrel?
IN TWO years’ time the price of oil could reach $200 a barrel. Farfetched? Maybe. Although estimates of oil and gas reserves vary widely, geologists Anders Sivertsson, Kjell Aleklett and Colin Campbell, of Uppsala University in Sweden, are the latest in a growing group of experts who believe that oil supplies will peak by 2010, if not before, and gas soon after.
