Saudis say they will boost production 37 per cent
The current oil price boom is “significantly” different from the politically driven price spikes of the 1970s, Saudi Arabia’s energy minister said in London yesterday.
The current oil price boom is “significantly” different from the politically driven price spikes of the 1970s, Saudi Arabia’s energy minister said in London yesterday.
Between August and October, Iraq lost $7 billion dollars in potential revenues due to sabotage against the country’s oil infrastructure, according to Assem Jihad, spokesman of the Oil Ministry.
If predictions are correct, no future generation will forget 2005 – the year the world began eating into the second half of its oil reserves. Interview with Pr. David Goodstein.
Rather than seeking alternatives to heating with oil — the cost of which has increased by 31 percent — folks this year are finding thrifty, creative ways to keep warm air in and cold air out, area retailers say.
Second set of audio recordings from the First US Conference on Peak Oil and Community Solutions, this time featuring Pat Murphy on the geopolitics of oil and permaculturist David Blume on home grown ethanol production.
Some experts express even greater concern and caution that oil may run short much sooner than the IEA forecasts.
If oil production is about to peak, America’s transportation-dependent economy appears
headed for a crippling crisis in coming decades.
In October, International Truck & Engine Corp. announced plans to help build diesel-electric hybrid industrial trucks that consume 40 percent to 60 percent less fuel and release fewer toxic emissions. The upward movement of oil prices at the pump can be explained by a theory called Hubbert’s Peak.
The reality is, that for all the paper wealth being generated by the so-called knowledge-based economy, Canada’s entire post-industrial economy still floats on an ‘old economy’ pool of oil and gas.
The momentous challenge facing the Bush Administration and America is the very real danger to the continuing supply of America’s very lifeblood: oil.
Canada’s known natural gas reserves continue to decline even though a record number of wells were drilled in 2003, the energy industry announced Thursday.
Aware of Iran’s dependence on India to market its gas, New Delhi is dragging its feet even as Tehran pumped up the gas on the proposed Iran-India pipeline traversing through Pakistan.