High oil price not due to hedge funds, traders-EIA
As U.S. crude oil prices soared past $56 a barrel to an all-time high on Wednesday, the government said that hedge funds and speculative traders were not to blame for rising crude costs.
Fossil Fuels
Oil Rises to a Record on Concern Demand Is Outpacing Supply
Crude oil rose to a record $56.69 a barrel as a promise of increased output from OPEC failed to ease concern that demand for fuels is rising faster than supply.
Gazprom’s Dream Pipeline to Europe
In northern Russia, where vast deposits of natural gas lie waiting to be tapped, Gazprom, the state-owned Russian energy giant, is hatching a multibillion-dollar strategy that would lock a swath of Europe from Germany to Britain into long-term delivery contracts, in a move that would bypass Ukraine and Belarus and anchor Russia to Europe more closely over time.
Union of Russia’s Oil and Gas Producers Says Oil Exports in Danger
The president of the Russian Union of Oil and Gas Producers said on Wednesday, March 16, that the country’s oil exports are in danger unless a program of geological exploration of new oil deposits is introduced.
Could wind generators slow climate mixing and the arctic thaw?
Thought-provoking comments from an alert Newfoundland reader, following on from the ‘methane-burps’ fears covered previously. Could suitably placed wind turbines reduce climate mixing, slow the warming of arctic regions, and so avoid catastrophic methane emissions from thawing tundra?
For OPEC, Iran talks are a first in 34 years
The gathering in Iran is a testimony to a consensus that has shaped a rare unity among the Gulf oil producers in the cartel over the past five years. This rapprochement helped set in motion the group’s most successful period since its creation in 1960.
Running on empty
The leading energy analysts who foretold Enron’s demise have an alarming new claim: The world’s major oil companies are almost tapped out.
The Long Fingers of Petroleum
When you finally realize how pervasive oil is in our everyday lives, you will begin to understand exactly how much the human race must change in order to do without it.
Oil could gush to $100
That’s the view from analysts who may have considered that prospect a long shot just a few months ago. And to be sure, some still think that’s a stretch from the current $55 level, short of a major disruption like a terrorist attack.
World’s thirst for oil makes falling output worse
The slower increase in non-Opec supply is boosting demand for the cartel’s oil, reducing Opec’s already low spare capacity, while demand continues to grow.
Peak Oil Presentation in the US Congress
Conservative Congressman Roscoe Bartlett, Chairman of the Projection Forces Subcommittee of the Armed Services Committee, gave an hour long presentation on Peak Oil to the US Congress on Monday. This is the full transcript.
OPEC says it’s lost control of oil prices
Cartel producers say they can’t keep up with strong global demand. ‘This is their claim. But the fact of the matter is that nobody knows what their capacity is.’
— Sen. Ron Wyden
Dem. – Oregon
