IEA: Oil Demand Growing Faster than Supply
In its monthly Oil Market Report, the IEA again revised upward its estimate for growth in global oil demand, while noting that oil supply dropped in January.
Consumption & Demand
Japan and Brazil Sign Biofuel Deal
Brazil’s Ministry of Agriculture and the Japanese Bank for International Cooperation have signed the first phase of a term of reference for the future implementation of a bilateral biofuel program aimed at exporting ethanol and biodiesel fuel to the Japanese market.
N.Z. Grid boss warns of blackouts
National grid boss Ralph Craven is predicting blackouts if the $500 million upgrading of transmission lines into Auckland is thwarted.
Transatlantic alliance to secure fuel supplies
Oil consumers on both sides of the Atlantic on Thursday outlined plans to secure energy supplies and reduce consumption amid growing concern over rising oil prices, potential terrorist threats and surging demand from avoracious China.
Chinese VP in Caracas to sign deals
Venezuela has hailed the visit of Chinese Vice President Zeng Qinghong as a productive trip that will yield several multi-billion trade deals, mainly in the oil and gas sectors.
IEA warns of likely renewed oil demand boom in 2005
The International Energy Agency (IEA) Tuesday warned of a possible renewed oil demand boom in 2005 and is telling oil producers to be on their guard against unexpected events.
Staring down the barrel of a crisis
The world’s oil production may be about to reach its peak – forever. Such apocalyptic prophecies often surface in the middle of the northern hemisphere winter. What is unusual is that this time the doomsday scenario has gained serious credibility among respected analysts and commentators.
Why the West is riding for a fall
A little book with a big title, Dark Age Ahead, published last year, tracked the ebbs and flows of civilisations over centuries. It came to this chilling conclusion: “We show signs of rushing headlong into a Dark Age.” Not slipping towards a Dark Age. Rushing.
Energy and Human Evolution
Life on Earth is driven by energy. Autotrophs take it from solar radiation and heterotrophs take it from autotrophs. Energy captured slowly by photosynthesis is stored up, and as denser reservoirs of energy have come into being over the course of Earth’s history, heterotrophs that could use more energy evolved to exploit them, Homo sapiens is such a heterotroph; indeed, the ability to use energy extrasomatically (outside the body) enables human beings to use far more energy than any other heterotroph that has ever evolved.
Peak Oil?
Long discussion of oil fundamentals, particularly the complexity & dynamics of markets, followed by superficial look at likelihood of production peak and potential of alternatives.
Saudi supply demanding attention
When OPEC kingpin Saudi Arabia recently announced a production increase, there was scant mention the increase was mostly in the form of low quality crude rather than sweet.
China to Challenge World Energy Market
According to the “World Energy Outlook” report prepared by the International Energy Agency, the world’s energy consumption will increase by 60 percent by 2030. China will rival the US as the biggest consumer and will use 10 million barrels oil per day by 2030.
