Insight and inspiration in turbulent times.
While Delta, like other airlines, cut about $600 million in costs between 2001 and 2003, its fuel costs at the same time went up by about $120 million. Given that oil prices have increased by roughly three-quarters in a year, the fuel expense for 2004 will be much worse.
Climate change will impact every one of us. For this reason, governments all over the world are making moves to mitigate their greenhouse gas emissions. Geosequestration is the new kid on the block in energy technology research. It has become very popular politically, so much so that Australia’s Howard Government, following the lead of the US, is investing heavily in it. But at what cost?
Fossil fuels, so easily set alight! Yes, and as Bush and Kerry are out campaigning, we are presently touching off nearly the very last whiffs and drops and chunks of them. All lights are about to go out.
Motorists may groan, but the times of $2-a-gallon gasoline could look like the good old days before the decade is over. The problem is that global demand for oil is rising briskly, and at the same time, production in old oil fields is declining and new fields are increasingly hard to find.
Talks and presentations delivered at a session of the Society of Petroleum Engineers (SPE) on dwindling oil supplies.
JAKARTA, Indonesia (Reuters) — OPEC president Purnomo Yusgiantoro said Wednesday he had urged the United States to use its strategic petroleum reserves (SPR) to bring down oil prices.
Dennis Meadows warned 32 years ago that the world would run short of resources within a century, putting the planet at risk of expanding hunger as well as economic and social disaster. Today, that danger is more imminent, says Mr. Meadows, one of the authors of “The Limits to Growth,” a book published in 1972 and now just updated.
“From what we see now we are about to peak on oil,” Oluf Ulseth, Norway’s Deputy Minister of Petroleum and Energy, said of Norway’s 3.2 million barrels a day of crude output.
Australia today warned that a $6.7 billion natural gas project in the Timor Sea could be scrapped after East Timor rejected its latest proposal.
“I think it is not helpful for the world to believe that we are running out of oil.” LORD BROWNE, BP chief executive
Despite RBI Governor Dr Y.V. Reddy putting on a brave front on Tuesday saying that the Indian economy is resilient enough to absorb the oil shock, it is now clear that the ogre of petro inflation will adversely impact India’s growth prospects.
Iran’s Ambassador to Beijing Fereydoun Verdinejad said here Wednesday that Iran and China enjoy great potentials to boost long-term cooperation in various oil, gas and petrochemistry fields.
