Why should the United States care who is the President of Venezuela?
Peak Oil, petrodollars and the US interest in Venezuala
Peak Oil, petrodollars and the US interest in Venezuala
The story of the energy industry’s dollar-fueled ascent to the White House is full of drama, both high and low.
While some debate whether the war in Iraq was or was not “about oil,” another war, this one involving little but oil, has broken out between two of the world’s most powerful nations.
A Christian charity has accused the coalition authority in Iraq of failing to account for up to $20bn (nearly £11bn) of oil revenues which should have been spent on relief and reconstruction projects.
“With energy representing more than 30 per cent of our operating costs, we simply cannot invest a billion dollars in a project with the risk that energy prices will rise considerably over the life of that project.”
World oil consumption may rise 2 per cent next year, led by increased usage of diesel, gasoline and jet fuel in the U.S., Societe Generale said.
From bottlenecks caused by aging refineries and a supertanker shortage to depleted production from non-OPEC producers, the price of crude is being pushed higher because of one simple fact: There isn’t enough of it.
Occasionally, a sea change occurs in global markets that alters the dynamics of a particular business forever. A growing body of evidence suggests that North America’s supply-dominated natural gas business is about to go through just such a process.
The Apollo Alliance, a powerful cabal of unlikely allies, are quietly pushing the Kerry campaign to adopt what may be the best, most timely Big Idea to hit a presidential campaign in decades. The Alliance proposes what it calls a New Apollo Project, which would strive for American energy-independence within a decade.
One would think that countries that are net importers of oil and gas would make concerted efforts to conserve energy, and to work feverishly towards developing alternative sources. But the paltry sums of money allocated for the necessary research and development of alternatives is negligible.
The International Atomic Energy Agency has forecast that the use of nuclear energy will increase rapidly in the coming years.
Toshiba announced on Friday that it has built what it claims is the smallest-ever direct methanol fuel cell.