Norway Peaking, To Invest NOK70B In Oil Business This Yr
“From what we see now we are about to peak on oil,” Oluf Ulseth, Norway’s Deputy Minister of Petroleum and Energy, said of Norway’s 3.2 million barrels a day of crude output.
Opec asks US to release emergency oil stocks
The president of the Organization for Petroleum Exporting Countries (Opec) on Wednesday urged the United States to release some of its emergency crude oil stocks.
NZ: Energy report: right direction but hurry up
The Green Party of New Zealand is enthusiastically welcoming the intent and content of the Government’s Sustainable Energy report, but says it still lacks a sense of urgency. A key example is Peak Oil. Some sections acknowledge that global oil production is going to peak in the foreseeable future. Yet it still appears to accept oil price forecasts that many experts think are way too optimistic.
Russia energizes Asian conquest
The Russian government is moving to tighten its grip on the country’s lucrative hydrocarbon and energy sectors, trying to consolidate all of the government’s energy assets under one roof.
IEA Says Current Energy Trends “Call for Urgent and Decisive Policy Responses”
Claude Mandil, executive director of the Paris-based International Energy Agency, presented a reassuring assessment today of the prospects for global energy supplies, but drew attention to serious concerns about energy security, investment, the environment and energy poverty. He called for more vigorous action to “steer the global energy system onto a more sustainable path”.
Sweden: Nuclear out, wind in (no matter what the people say)
“Nuclear power has run out of steam.” That was prime minister Göran Persson’s conclusion earlier this month when the government announced the decommissioning next year of the Barsebäck 2 nuclear plant. A survey has now shown that most Swedish people think that Sweden should continue to use the nuclear power plants currently in use.
Spain: Wind energy growth and limits
The Spanish wind industry is planning to grow up to 20 to 30,000 MW installed power and they are seeking for offshore platforms, a possible indication that the best fields are reaching a peak in the country.
ConocoPhillips oil & gas production declines
Third-quarter oil output fell 7.6 percent from a year earlier, and natural-gas production slid 5.9 percent, partly because of asset sales, ConocoPhillips said.
Oil production rose from wells in Vietnam and the Timor Sea and declined everywhere else, the company said. Gas output fell everywhere the company did business except Norway and Vietnam.
US Petrodollars: Economic Crash Imminent?
In the same time period during which the price of oil has gone up in terms of the dollar, it has remained stable in terms of the EURO. This has prompted speculation that OPEC will change from denominating all sales of oil in the dollar to other, more attractive currencies, like the EURO, which would be disastrous for the US economy and the dollar as world reserve currency.
EIA projections are not realistic
The former head of Saudi Arabian Oil Co’s oil exploration Wednesday sharply criticized U.S. government oil supply projections. “The whole industry laughs at it,” said Sadad Al-Husseini.
The Real Reasons Why Iran is the Next Target: The Emerging Euro-denominated International Oil Marker
The Iranians are about to commit an “offense” far greater than Saddam Hussein’s conversion to the euro of Iraq’s oil exports in the fall of 2000. Numerous articles have revealed Pentagon planning for operations against Iran as early as 2005. While the publicly stated reasons will be over Iran’s nuclear ambitions, there are unspoken macroeconomic drivers explaining the Real Reasons regarding the 2nd stage of petrodollar warfare – Iran’s upcoming euro-based oil Bourse.
The Godly Must Be Crazy
Abortion. Same-sex marriage. Stem-cell research. U.S. legislators backed by the Christian right vote against these issues with near-perfect consistency. That probably doesn’t surprise you, but this might: Those same legislators are equally united and unswerving in their opposition to environmental protection.
