Indonesia’s crude output falls to 34-year low in February
Indonesia’s crude oil production fell to 942,000 barrels per day (bpd) in February due to technical problems on several wells, an industry source said yesterday.
Fossil Fuels
Audio: Andrew Nikiforuk on High Noon for Fossil Fuels
Enagaging series that examines the wealth generated from fossil fuels in Alberta, how Canadians are consuming and exporting these natural resources, and what Canada’s energy future holds
The Militarisation Of Oil
Oil prices spiked to record levels last week, propelled by a rally in petrol prices and a cold snap in the northern hemisphere, against the backdrop of a tight balance between supply and demand. Yes, that’s right, basic “supply/demand,” not “political turbulence in the Middle East.”
Oil Demand Rises More Than Expected, Straining Supply, IEA Says
Oil demand this year will rise faster than expected because of cold weather and growing economies in the U.S. and China, straining the ability of producers to keep pace, the International Energy Agency said.
Opec has no capacity to lift quotas, says Algeria
Opec does not have the oil production capacity to enable it to lift supply quotas at next week’s meeting in Iran, Algeria’s Energy Minister said yesterday.
Middle East: Demand for power and water to go up
Demand for power and water in the Middle East is expected to skyrocket over the next ten years as rapid economic development, construction and tourism place an increased burden on the region’s infrastructure, experts averred.
US report acknowledges peak-oil threat
The Hirsch report on “peak oil” is unprecedented in US government circles. It is not just the existence of the report itself that is such a landmark in the current oil debate. Its conclusions also pull no punches.
IMF ‘wants more spare Opec oil’
London : The International Monetary Fund will recommend that Opec more than double its spare capacity to cushion the oil market against shocks, the Financial Times reported yesterday.
China’s Upward Mobility Strains World Resources
If per capita income in China grows at eight percent per year — a reduction from the red-hot pace of 9.5 percent it has grown since 1978 — it will overtake the current per capita U.S. income in just over 25 years, according to the latest analysis by the Earth Policy Institute (EPI).
US bullish in 2005 oil price forecast
The US Deptartment of Energy raised its outlook for oil prices this year to nearly $50 a barrel. This time last year, it predicted a price of only $29.40 in the forecast for 2005.
Australian politician goes on record about peak oil and gas
The first mainstream politican to take a stand on peak oil is in the Queensland Parliament (Australia). Bravo, Andrew McNamara!
Chavez: Our oil reserve does not belong to Mr. Bush
Venezuelan President Hugo Chavez on Monday accused the United States of planning to portray his country as a security threat in order to capture its vast oil reserves.
