Insight and inspiration in turbulent times.
National Grid Transco (NGT) yesterday took steps to strengthen Britain’s fragile energy supply situation by unveiling plans to spend £355m in tripling the capacity of the country’s first new liquefied natural gas (LNG) terminal.
A monthly publication put out by the Bank of Montreal argues that “Hubbert’s Peak must have arrived for Ghawar, the world’s biggest oilfield, and Wall Street’s most-cited reason for assuring us month after month that oil prices would plunge…”
When the Labor backbencher Andrew McNamara rose from his seat in the Queensland Parliament in February to state a few home truths about falling world oil supplies, he expected, at most, a few catcalls from the Opposition benches. Instead, the speech by the provincial solicitor from Hervey Bay “bounced around the world”.
What will cost $3 a litre, require car-pooling, the permanent military occupation of Iraq and oil drilling on the Great Barrier Reef? Petrol, according to experts who have been contemplating its future in an oil-poor Australia.
Excellent review of the current cheap-oil-energy and material intensity of UK food production and makes a good case for relocalisation as integral to improving the situation.
Oil markets have entered a “super-spike” period that could see 1970’s-style price surges as high as $105 a barrel, investment bank Goldman Sachs said in a research report.
LOS ANGELES — The Russian government plans to increase its oil export duty to a record $102.60/tonne starting Apr. 1. The duty has been $83/tonne since Feb. 1.
During December 2004 and January, the duty was $101/tonne, the previous highest level. Russia’s oil export duty is reconsidered every 2 months.
But similar to industry trend where private oil companies can’t locate large future reserves.
The interesting question about the advent of $50-a-barrel oil is whether it signals a new era in the economics and politics of energy.
Philippines President Gloria Arroyo ordered most Philippine government offices to go on to four-day working weeks in April and May to conserve energy amid surging crude oil prices, the presidential palace said today.
The hike in oil prices is beginning to ripple through the economy, pinching consumers at places far beyond the gas pump.
The United States must act now to deal with peaking world oil production or face disruptions far greater that the 1973 oil embargo or the 1979 Iranian oil cutoff, according to an article in the spring issue of Issues in Science and Technology.
