Insight and inspiration in turbulent times.
Neela Banerjee At a time when the nation is chafing at its persistent dependence on foreign oil, it is becoming clear that the United States may be headed for the same situation with natural gas.
Price of crude topped $47 a barrel Wednesday, despite Saudis’ recent talk of loosening spigots. “This may not be a short-term aberration,” said ChevronTexaco CEO David O’Reilly, in a recent speech before the US Chamber of Commerce.
Starting next week, shoppers and motorists will have to brace themselves for early closing times at department stores and petrol stations, as the government implements its latest set of energy-saving measures.
The second largest producing field in the world is the Cantarell complex in Mexico, with 2.1 MMb/d of output in 2003 up from 1.9 MMb/d in 2002. Cantarell is expected to decline rapidly over the next few years, falling as far as 1 MM b/d by 2008.
The huge amounts of dust blowing across the Earth may have serious consequences for the environment, a scientist says.
From ODAC bulletin: Of the top 45 oil-producing nations that accounted for 98.7 percent of world oil production in 2003, a total of 25 (including 7 of the 11 OPEC nations) are now past their peak.
The Tennessee Valley Authority recovered less than half of its $36 million investment in a failed power storage process in Mississippi.
Iranian Defense Minister Ali Shamkhani warned Wednesday that Iran might launch a preemptive strike against US forces in the region to prevent an attack on its nuclear facilities.
Since crisis is defined as a sudden unexpected happening that hurts people and economies, it can said that the oil issue has turned into a crisis.
Out of the earshot of the environmental think tanks in Washington and California, Kerry said: “I want Americans to drive. You want to drive a great big SUV? Terrific. That’s America.”
By way of clarification, the issue isn’t that the world is running out of oil, it will of course, but not for some time. The real issue is that the global production of oil is about to peak, after which we will move into a period of decline, this production decline will be permanent.
FARMERS in Pembrokeshire have launched a co-operative to produce, market and supply biofuels.
