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OPEC exploration declining despite rising prices

August 24, 2004

Some of the world’s biggest oil-producing countries have reduced their investment in new capacity despite record oil prices. The Organisation of Petroleum Exporting Countries this week revealed its members drilled 6.5 per cent fewer wells in 2003, suggesting the global supply crunch and high oil prices could last longer than expected, analysts said. The numbers appear to contradict statements by Opec members that they are actively building extra capacity.

Biofuels not the answer, yet

Reuters staffer, CNN / Reuters

August 24, 2004

Despite recent crude runup, fuel from plants still 50% pricier; more incentives needed.

NZ: Peak Oil 101. For the benefit of Dr Cullen.

Powerless New Zealand, Scoop

August 24, 2004

Hon Dr MICHAEL CULLEN of the New Zealand parlaiment: I have to confess that, for once, the member has floored me; I do not understand what is meant by the term “peak oil”.

Shell Settles with SEC, UK for $151 Mln

Reuters staffer, Reuters

August 24, 2004

Royal Dutch/Shell Group agreed on Tuesday to finalized settlements with U.S. and UK regulators which will cost the oil giant $150.7 million over its mis-statement of proven oil reserves.

Doomsday nearer than you think

Ahsan Latif, University Daily Kansan

August 24, 2004

Nadine didn’t flinch when she acknowledged the inevitability of an oil shortage, which was remarkable because it would probably result in the end of civilization as we know it.

NZ: Road report ignores reality of ‘peak oil’, say Greens

staff reporter, New Zealand Herald

August 24, 2004

Green Party co-leader Jeanette Fitzsimons is questioning the wisdom of building billions of dollars worth of new roads around the country, saying the rising price of oil will eventually leave them empty.

Motley crude

Max Walsh, The Bulletin (Au)

August 24, 2004

Oil prices are at record highs, production may well have peaked, yet demand continues to soar. So why aren`t the oil companies panicking?

The San Francisco Chronicle, in 1971, carried a small item: “The Texas Railroad Commission announced a 100% allowable for next month.” It was a very cryptic report and, knowing newspapers, it was probably simply used as a filler.

First signs of a global decline in oil?

Adam Porter, Aljazeera

August 24, 2004

New statistics are claiming that oil production in 18 producer countries has passed its peak and is declining faster than previously thought: At about 1.14 million barrels a day.

Audio: Experts: Oil Production Peak Inevitable

Steve Inskeep, NPR

August 24, 2004

The summer’s record high oil prices and tight supplies raise questions about how much oil is left.

9-11 and peak oil: connecting the dots

Carolyn Baker, Online Journal

August 24, 2004

History professor and 9-11 skeptic Carolyn Baker discusses the connection between the events of 9-11 and peak oil.

Asia Farmers Sucking Continent Dry

Andrew Cawthorne, Reuters

August 24, 2004

Asian farmers drilling millions of pump-operated wells in an ever-deeper search for water are threatening to suck the continent’s underground reserves dry, a science magazine warned on Wednesday.

The End of False Progress: Origins of materialism, and implications for our future in the post-petroleum reality

Jan Lundberg, Culture Change e-Letter #72

August 24, 2004

What will be the alternative to today’s consumerism and fear of material insecurity? This essay looks toward the next mainstream culture: Life after petroleum-culture collapse. To help explain today’s lack of preparation for fundamental change, we examine historical practices particularly in Europe. This installment focuses on the history of food production vis-à-vis political power and worldview.