Insight and inspiration in turbulent times.
The $7 trillion national debt, unparalleled domestic consumer debt, the fall of the dollar and rise of the Euro, peak oil, the rise of the biggest markets by far in Europe and China – all adumbrations of a collapsing U.S. economy. [Warning: political rant]
Oil exports from Russia – the world’s second-largest oil producer – may decrease within two years, a top Russian oil industry expert warned Tuesday.
The oil tanker Tropical Brilliance owned by the Russian partly state-owned Sovcomflot company and sailing under a Liberian flag has caused a traffic jam at the Suez Canal, after experiencing steering gear failure and grounding itself across the canal.
US oil output has fallen to its lowest monthly level in more than 50 years in the wake of Hurricane Ivan.
Rising global temperatures will melt areas of the Arctic this century, making them more accessible for oil and natural gas drilling, a report prepared by the United States and seven other nations said on Monday.
The UK’s oil trade balance swung into the red for the first time in 13 years in September, the Office for National Statistics (ONS) has said.
Even those Americans who don’t care to — and still don’t have to — peer over the wall already essentially know what’s on the other side. That’s the nature of denial. After all, you can’t deny what you don’t, at heart, know to be so.
Dr. Aleklett says that the IEA’s World Energy Outlook for 2004 shows an acceptance of peak oil concepts, but the message is not obvious. In this article, he decodes Chapter 3 of the report.
California Institute of Technology professor and vice provost David Goodstein said the world is headed toward a global oil shortage that could cause warfare, economic depression and the crumbling of institutions.
“Our ignorance is not so vast as our failure to use what we know.” — Marion King Hubbert
Harken Energy is the latest oil company to benefit from the United States’ escalating involvement in Colombia. On November 4, the Texas-based company announced the signing of a new oil exploration and production contract in Colombia.
Although the world will not run out of oil tomorrow, the world is nearing the end of what might be called the easy oil. Even in the best of circumstances, the oil that still remains will be more costly to find and produce and less dependable than the oil being used today. This fact means not only higher prices, but also more volatile prices.
