Insight and inspiration in turbulent times.
Luanda – The Angolan government yesterday unveiled a $370 million (R2.4 billion) plan to develop infrastructure in the oil-rich Cabinda enclave, in a bid to win over a region that has long pushed for self-determination.
In an updated version of an influential 1972 book on the dangers facing the planet, the authors confirm that the earth is taxed and overcommitted. But, as they say, knowing is half the battle.
Australia will have to import oil by the end of this decade as we move into a world where prices are inevitably going to be higher.
The recent sabotage of Iraq’s oil pipelines has raised fresh concerns about production capacity and room for maneuver in case of a crisis amid firm global oil demand.
Thousands of workers fleeing stepped-up kidnappings by al-Qaida.
Concern that the European Commission could gain control of Britain’s North Sea oil resurfaced last night.
IN THE short run, it is good news that the price of a barrel of crude oil has fallen below US$40 (S$69). In the long run, however, this is not good news. In fact, it may be terrible news.
FERC orders California to pay Enron and other energy companies $250M, the very companies that the state argues should be refunding $9 billion to California for market rigging during the power crisis three years ago. Meanwhile, questions are raised about Cheney’s knowledge of price fixing. And Bush attempts to revive failed Ken Lay inspired energy policy.
Since 9/11 more than US$10 billion has been spent on biological weapons, and the physical plant at the Fort has been expanded to the tune of $400 million.
Kazakhstan announced on Friday that it planned to build two oil terminals in Iran as it ramps up a lucrative oil-swap export arrangement that has been criticised for lack of transparency.
The key energy-related issues for these two countries are increasing energy
dependency on imported oil, growing environmental concerns due to the dependency
on coal, transportation and supply problems, and regional geopolitics.
The important point is this: Why is OPEC busy asking Russia and other non-cartel producers to boost their production if Saudi Arabia has everything under control?
