Insight and inspiration in turbulent times.
…as growing demand for natural gas outstrips North America’s conventional supplies, many experts view imports of LNG as the only way to head off decades of soaring prices for businesses and the tens of millions of households that rely on the fuel for heat and electricity.
Includes report of planned & recent deepwater oil exploration off the coast of South Africa, and some pleasantly frank comments from the head of the SA Petroleum Agency.
Oil consumers on both sides of the Atlantic on Thursday outlined plans to secure energy supplies and reduce consumption amid growing concern over rising oil prices, potential terrorist threats and surging demand from avoracious China.
Venezuela has hailed the visit of Chinese Vice President Zeng Qinghong as a productive trip that will yield several multi-billion trade deals, mainly in the oil and gas sectors.
Japan says it will protect its offshore energy resources after its navy spotted two Chinese destroyers near a disputed gas field in the East China Sea.
The Group of 7 leading industrialized nations is not what it used to be. That was amply demonstrated during the energy scare last year, when the most powerful economies stood impotent in the face of surging energy costs that threatened global growth.
The myth or belief in OPEC overcapacity is a key cheap oil myth. The opposite myth, or rather belief is increasingle easy to prove: both OPEC and non-OPEC suppliers are not able to keep pace with world demand, their own domestic oil consumption, and ward off depletion losses.
Access to some of the most coveted oil reserves in the Western Hemisphere is at stake, with Venezuela exporting about 1.2 million barrels of oil a day to the United States, or nearly 15 percent of American imports. But the overtures to the Chinese, Russians and Iranians have added to worries among private oil companies that Venezuelan policies toward them are becoming increasingly unpredictable.
The climate change denial lobby – funded by the US oil industry – has now moved to the UK, warns Bob May
Albert Bartlett has given the same presentation, “Arithmetic, Population and Energy” 1,540 times.
Talk to traders about oil prices and they only look a few months ahead. But a new book from George Soros’ former colleague Jim Rogers, ‘Hot Commodities’ points to a much more long-term outlook, and the news for oil is very good.
U.S. President George W. Bush will ask Congress for another $80 billion for the war in Iraq, bringing the price tag for that invasion and ongoing operations in Afghanistan close to $300 billion, six times the original White House estimate.
