Peak Oil Review – May 26th, 2008
An executive summary of weekly news from a US peak oil perspective, featuring:
– Production and Prices
– In the Congress
– Subsidies
– The IEA’s Forecast
– Energy Briefs
Energy Policy
The illusion of vast undeveloped U.S. oil resources
As Americans become more desperate for oil, I expect that ANWR and offshore areas will be opened for oil development. It will be like burning the furniture to keep the house warm in mid-January. It will be a desperate move that won’t result in much.
Oil ripples – May 26
Oil’s surge causing major changes in US economy
What if gas cost $100 a gallon?
Oil prices in Australia
Oil revenue and sovereign wealth funds
Consequences of rising oil prices for producing countries
India oil firms weeks away from bankruptcy
Damage control
Renewables – May 26
UK: Labour plans green revolution to slash energy prices and win back lost voters
Will the rate-of-conversion problem derail alternative energy?
Indonesia hikes fuel prices – May 25
Fuel prices rise nearly 30 percent
Angry protests
Cash to the poor to soften the blow
United States – May 25
Relentless rise in oil prices tests economy’s resilience
Bombing Iran: the clamor persists
DOT: Americans driving at historic lows
House talks oil prices, questions Bodman
Blaming speculators – May 25
Are speculators fueling oil run-up?
Speculators draw the heat
Controversial theory: traders to blame
Oil insiders say investors driving up prices
Oil trade’s winners now reap the wrath
Above ground factors: The propaganda tool of choice
Stating that above-ground factors are limiting oil supply is not merely an observation. Rather, it is part of a propaganda strategy supporting a policy agenda which almost certainly reflects the views of CERA’s clients, many of whom are major oil producers.
“Seven Sisters” have become “Five Little Brothers”
For many it comes as a shock that Big Oil has transformed into the ”five little brothers”. Today, the world’s seven largest oil companies are completely outside the control of the U.S. Senate.
Drilling – May 24
Savings from Arctic drilling – 75 cents a barrel
Oil industry, lawmakers aim to lift bans on drilling
Will domestic drilling decrease prices?
U.S. & Canada – May 23
Reps. Young and Bartlett: The American Energy Independence and Price Reduction Act
Thomas L. Friedman: Imbalances of power
America’s oil crisis demands a leader like Churchill
Canada as an energy superpower
Gazprom to ship Shtokman gas to Rabaska LNG terminal
Australia – May 23
Time for the price of fuel to rise above politics
No silver bullet for fuel prices: Rudd
How petrol is putting Sydney under the pump
