Insight and inspiration in turbulent times.
The Russian government will auction off Yuganskneftegas, the main production unit of embattled oil giant Yukos, on December 19 with a starting price of 246.75 billion rubles (8.65 billion dollars), the federal property fund announced.
The Organization of Petroleum Exporting Countries, producer of more than a third of the world’s oil, cut its estimate for the growth in world demand this year and next as high prices hurt economic growth.
China’s insatiable demand for energy is prompting fears of financial and diplomatic collisions around the globe as it seeks reliable supplies of oil from as far away as Brazil and Sudan.
Over 200 people gathered from around the U.S. to listen to peak oil
experts Richard Heinberg and Julian Darley and create strategies for a community-based reponse to
global oil peak.
Mike Ruppert is the publisher/editor of From the Wilderness or FTW, a newsletter he founded in March 1998 by mailing out 68 copies to friends and researchers. FTW is now read by more than 16,000 subscribers in forty countries including forty members of the US Congress.
In Russia’s main oil-producing region in western Siberia, proven reserves represent just 18% to 24% of all oil in the ground, in contrast to about 45% in Western oil-producing regions such as Alaska and the North Sea. But as Russian oil companies adopt technologies, such as horizontal wells and computerized reservoir management systems, the estimated recovery rates are being revised upwards.
Sir Mark Thatcher has been charged with involvement in a coup plot in oil rich Equatorial Guinea prosecutors confirmed today.
As global oil demand increases and oil wells deplete, will oil producers’ much trumpeted new fields be able to cope? A report by the Oil Depletion Analysis Centre (ODAC) has taken the hard data supplied by oil producers and come up with some worrying conclusions.
Russian oil major Lukoil will export its first trial batch of oil to China in November-December, the company’s vice president Leonid Fedun said at a presentation of the company’s bonds on Thursday.
Analysts, economists and industry spokespersons seem very reluctant to talk about depletion or production decline. Chris Skrebowski of ODAC has analyzed the 2004 BP Statistical review of World Energy and has noted that there were 32 countries that were able to increase production in 2003, vs. 18 countries which have been in decline for 3 years or more.
Once again, neither Democrats nor Republicans honestly addressed three of the major issues that threaten the very survival of our way of life.
A controversial plan to allow oil drilling in Alaska’s Arctic National Wildlife Refuge is likely to move forward now that there will be enough votes in the Senate to push the measure ahead.
