India: higher oil imports, tax cuts and a strategic petroleum reserve
India’s crude oil imports jumped by 23.3 % in July this year on increased demand for oil products, a senior Petroleum Ministry official said.
Consumption & Demand
Chinese Premier Departs Without Energy Solution
Russia and China agreed to terms for Russia’s membership in the World Trade Organization during top-level talks in Moscow on Friday, but both sides left unanswered questions about whether Russia was ready to guarantee stable oil supplies and boost oil and gas deliveries in the future to its energy-hungry neighbor.
Economy restructuring and peak oil
Andrew McKillop argues that up to a point, high oil prices can stimulate economies. However, ways must be found to rapidly decrease oil demand as leaving it to the market will necessarily lead to a new ‘Great Depression’.
To boost US security, an energy diet
A rising chorus of experts … offer[s] a dramatic solution for America’s energy woes. By boosting the efficiency of cars, homes, and offices, the United States could dramatically cut its reliance on foreign oil and forgo building many new power plants. The solution would not only be easier than drilling for more energy, it would be cheaper, these experts say.
China’s crude oil imports jump over 37%
Fuelling world prices, China’s crude oil imports jumped 37.4 per cent in August from the same month a year earlier to 9.33 million metric tons (70 million barrels), the government reports.
Oil producers have wafer-thin safety margin: experts
Limited spare capacity means that the ability of oil producers to meet the sharpest rise in demand since the 1970s is likely to be severely tested, according to experts attending an OPEC-sponsored seminar in Vienna.
Demographic oil demand and peak oil
Since about 1999 per capita world average oil consumption is increasing. This recovery, after a long decline through about 1980-2000, has strong implications for potential oil demand, and potential annual growth of world oil demand as we enter the period immediately preceding ‘Peak Oil’.
India steps up quest for energy supplies
High prices are unlikely to erode India’s booming demand for oil and the country has stepped up negotiations with producer nations to secure its energy supplies, said oil minister Mani Shankar Aiyar.
New Forecast Shows Oil Supply-Demand Tipping Point Within A Decade
World oil production will likely not be able to meet global demand as early as the middle of the next decade, according to a new study by Washington-based consultants PFC Energy.
Asia switches slowly to green power
Rising oil prices and pollution are fueling interest in green power in Asia but experts see no prospect of a rapid switch from the region’s growing dependence on oil, coal and gas.
Asian oil boom no passing phase
A surge in Chinese and Indian oil demand that has helped push world prices to record highs is no passing phenomenon, analysts say.
Depletion – the missing demand element?
Surely it is time that depletion was treated explicitly rather than being buried in the statistics?
