Saudi extra barrels wrong kind of crude
The world’s oil refiners are unimpressed by Saudi Arabia’s boost to production capacity that would only swell supplies of sour, high-sulfur crude while they hanker for sweet oil.
Reuters
Q&A: Ali Samsam Bakhtiari
The Peak Oil message board asks questions of Dr. Ali Samsam Bakhtiari, one of the few experts from an OPEC country to speak out on Peak Oil. Dr. Bakkhtiari is Senior Expert attached to the Director’s office in the Corporate Planning Directorate of the National Iranian Oil Company (NIOC).
The Sage of the End of Oil
David Goodstein, the Caltech professor of physics and applied physics, who remembered all too well the upheaval caused by short-term oil crises in 1973 and 1979, immediately began to wonder how an ill-prepared world would cope with an irreversible fuel shortage in the near future. The self-evident answer: Not very well.
The End of the Age of Oil
Adaptation of a talk by Caltech vice provost and professor of physics and applied physics David Goodstein, author of Out of Gas: The End of the Age of Oil (W. W. Norton) // Sidebars on global warming and on Goodstein are included.
Saudi oil and Chinese motorists
TEN years ago China was a net oil exporter. Today it is the world’s third largest oil importer, behind the USA and Japan, and the second largest oil consumer. Ten years ago China produced around 250,000 cars per year. Last year the country churned out more than three million. Committed factory expansions and developments will take capacity to five million cars next year.
Oil price hits $US50 a barrel
Crude oil futures hit $US50 in electronic after-hours trade in New York, setting a new record as supply worries intensified.
Not if, but when: Oil production peak will bring hard transition
The country and the world will have to adjust to declining oil supplies by switching to other energy sources and pursuing efficiency. The sooner that transition occurs, the less wrenching it will be. Instead, oil consumers are driving toward a cliff with their foot on the accelerator, with Americans in the lead.
Q&A: Richard Heinberg
The Peak Oil message board questions Richard Heinberg, educator and writer on Peak Oil
Book Excerpt: Powerdown: Options and Actions for a Port-Carbon World
We live in a time in which several “storms” are colliding: resource depletion, continued population growth, declining per-capita food production, global climate change and other signs of environmental degradation, unsustainable levels of US debt and a potential dollar collapse and international political instability. Powerdown, the path of cooperation, conserving and sharing, seems the most sane response.
Asian Stocks Fall on Record Oil Prices: Toyota, Airlines Drop
Asian stocks dropped on concern record oil prices will slow global economic growth and corporate profits. Exporters such as Toyota Motor Corp. and airlines including Cathay Pacific Airways Ltd. led declines.
Opec ‘is losing power to control oil prices’
The continuing surge in oil prices is proving Opec’s limited influence on the market despite the organisation committing to increasing its production ceiling, analysts said.
Oil prices are surging so oil traders are having the time of their lives, right?
Well, no. Oil’s startling price surge this year has actually driven many traders to the sidelines as wild intra-day swings magnified by powerful speculative funds confound traditional trading strategies, market sources say.
