Oil supplies: we’re on a knife-edge
OIL supplies are now so tight that just 1.5 million barrels of oil a day – less than 2% of global production – is keeping another potentially devastating surge in energy prices at bay, experts have warned.
Consumption & Demand
U.S. addiction to oil puts it at mercy of risky characters
Ultimately, it’s up to U.S. consumers to wean themselves from their costly addiction to oil, which increasingly is coming from less-than-stable parts of the world. And this will require some tough love.
California: Large energy buyers find market dry
Shaken energy managers throughout Silicon Valley are finding cheap, long-term electricity deals a thing of the past as they go about trying to replace expiring energy contracts.
China’s demand stokes coal prices
THERMAL coal spot prices, which smashed records earlier this year, are expected to remain high as Chinese demand increases.
If oil-crunched Indonesia goes nuclear…
Official figures published in Jakarta last month show Indonesia became a net importer of crude oil for the first time in February and March.
OPEC to increase oil production, members to be able to pump at will
OPEC ministers said yesterday that they will increase oil production, allowing members to pump at will and bypass the quota system that has governed supplies for most of the past two decades.
Detroit’s Complacency
THIS SUMMER, with gasoline prices reaching $2 per gallon across America, Ford Motor Co. will begin selling the first gas-electric hybrid SUV.
Asia turns to nuclear energy to fight power shortages
DESIGNERS and developers of nuclear power stations seeking career opportunities at the beginning of the 21st century are looking to Asia.
U.K. Conservatives Encourage Fuel Price Protests
U.K. Conservative Party Leader Michael Howard encouraged motorists to protest rising fuel prices and Prime Minister Tony Blair’s plan to boost taxes on gasoline.
As prices hit the roof, oil wars will keep burning
Oil prices are back in the headlines and likely to stay there, as the world’s global energy crosses new thresholds of increased demand, clashing politics and threats of terrorism.
Demand for unconventional oil and gas on the increase
Demand for unconventional oil is expected to reach 10.31 million bbl in 2008, up from 8.59 million barrels in 2003 at an average annual growth rate (AAGR) of 3.7%, said Business Communications Co. Inc., Norwalk, Conn.
Bush Touts Failed Policies
Bush’s energy bill, written by Vice President Dick Cheney’s secret energy task force with the help of oil industry executives – including former Enron executive Ken Lay – was a subsidy-laden giveaway which would have done little to promote conservation or alternative fuels.
