Cracked joints found in BP’s Georgia pipeline
A vital $3bn (£1.6bn) pipeline designed by BP to help meet Britain’s oil needs well into the next decade has been riddled with corrosion, it emerged yesterday.
Fossil Fuels
ODAC: World oil supplies likely to remain tight through 2010
Unless demand plummets, world oil supplies are nearly certain to remain tight through the rest of this decade, according to a study by the Oil Depletion Analysis Centre in London.
China says oil imports will rise nearly 10 percent this year
China says its oil imports will jump by nearly 10 percent this year to 100 million metric tons (700 million barrels), making up 40 percent of its consumption.
The Gathering Storm
From this week’s Barron’s, the influential US financial weekly, a measure of
the concern about the “entirely different” and “unprecedented” energy crisis
which “should have a severe impact, be global in scope, and be difficult to
solve”. Maxwell, dubbed by the magazine as the “dean of energy analysts”,
subscribes to the Hubbert’s Curve theory of depleting oil resources.
New Oil Projects Cannot Meet World Needs This Decade
World oil supplies are all but certain to remain tight through the rest of this decade, unless
there is a precipitous drop in demand, according to the results of a study by the London-based
Oil Depletion Analysis Centre (ODAC).
Oil, Currency and the War on Iraq
It will not come as news to anyone that the US dominates the world economically and militarily. But the exact mechanisms by which American hegemony has been established and maintained are perhaps less well understood than they might be. One tool used to great effect has been the dollar, but its efficacy has recently been under threat since Europe introduced the euro.
Oil fuels Asian giants’ tensions
The row over the intrusion into Japanese waters of one of China’s nuclear submarines is the latest in a long series of awkward moments in the fraught relationship between Asia’s two most powerful nations.
Coal-bed methane being created by microbes, researchers say
Microbes are continually converting hydrocarbon deposits in the Powder River Basin to natural gas, and if managed properly, can help turn coal-bed methane into a renewable energy source, researchers said Tuesday.
‘Coal increasingly substitutes for oil in US, China, India’
With oil prices skyrocketing, coal production is increasing in the countries like US, China and India despite environmental hazards, a media report claimed.
Iraq: Oil well fire out of control
SABOTEURS have set fire to four oil wells in Iraq’s northern fields.
Successive explosions had rocked the four wells in Khabbaza, 20km northwest of Kirkuk, the state-run Northern Oil Co said today.
US OKs Commercial Drilling in Alaska Oil Reserve
The US Interior Department on Friday gave final approval to a plan by ConocoPhillips and partner Anadarko Petroleum Corp. to develop five tracts around the oil-rich Alpine field on Alaska’s North Slope.
Needed: three 1-billion-barrel oil banks
It’s too early to celebrate the recent decline in oil prices after they topped $55 a barrel. None of the reasons that created the price spike — the strong thirst for crude in China and India, the dismemberment of the Russian oil giant Yukos, the terror strikes against oil facilities in the Middle East — has gone away.
