OPEC Reveal Global Light Sweet Crude Peaked

The key point is that non-OPEC light sweet crude went from 41% of 66 mb/d to 34% of 70 mb/d from 2000 to 2004, a drop of 3.26 mb/d. OPEC added 1 mb/d of light sweet crude over the same period resulting in a global reduction of light sweet crude of over 2mb/d showing that global light sweet crude has peaked and is now in decline.

Politics and Economics Headlines – 19 August, 2005

Ecuador to declare emergency, oil production falls / Manila eyes drastic steps to cope with oil crisis / India, China: Comrades in oil / Putin Wants More for Russian Oil / Energy and political experts game oil crisis / In U.S. heartland, anxiety over Iraq, oil / Another Methane Move / Energy prices plummet as demand falls [slightly] / Energy on NPR / Globalisation, Victorian-era labour practices, and oil demand / City traders facing up to climate change

Oil prices also affect oil costs

What those who see oil production just as a process limited by price, are NOT getting is that rigs and pipe and cement and energy are all costs that oil producers have to pay. And that additional cost is also reflected in the new higher prices for everything made with oil. As we look harder and harder for more oil, this demand drives prices for the equipment and materials we use through the roof.

Running on Empty: America’s Energy Security

As oil prices top $65 a barrel and Americans brace themselves for continued price hikes at the pump, leading energy experts and former high-level government officials discuss the nation’s precarious dependency on foreign oil in the face of ever-growing demand, terrorist threats and instability in the Middle East. (AUDIO and via radio stations)

Peak Oil Headlines – 18 August, 2005

Peak Oil, Peak Empire / The Cost of Oil And Hubbert’s Peak / The Humpty Dumpty Effect / Matt Savinar presentation on the Lifeboat Radio Show / Government unprepared for peak oil / The black art of oil pricing / Fear driving oil prices along the Peak theory road

Politics and Economics Headlines – 18 August, 2005

Venezuela Ready to Cut Oil Exports to US / Venezuela Oil Min: Global Oil Capacity At Its Limit / Cheney makes the oil sands pilgrimage
to Alberta / Electricity prices shock heavy users / Guzzle Gas, and Pretend / India Energy Independence / Economy Shows Signs of Strain From Oil Prices / Oil Prices Ignite Wall Street Sell-Off / Uranium mining: dollars for death