The End is Near
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.
Fossil Fuels
Exxon Mobil production rises slightly, profits boom
Total output rose 1 percent to the equivalent of 3.91 million barrels of oil a day as Chief Executive Officer Lee R. Raymond added production from the $3.4 billion Kizomba A project in deep waters off the coast of Angola. Other projects began producing in the past year in the North Sea and off Equatorial Guinea.
The impact of new projects was almost outweighed by a 14 percent drop in U.S. gas output, asset sales and production- sharing contracts under which the company gets fewer barrels of crude from certain fields as prices rise.
High gas prices may be here to stay
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.
Dwindling Supply vs. Abundant Oil: A Timely Debate
Talks and presentations delivered at a session of the Society of Petroleum Engineers (SPE) on dwindling oil supplies.
OPEC urges U.S. to release Strategic Petroleum Reserve
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.
Update on an old warning: Beware the coming shortages
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.
Norway Peaking, To Invest NOK70B In Oil Business This Yr
“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 warns on Timor Sea project
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.
Oil price will drop, says BP
“I think it is not helpful for the world to believe that we are running out of oil.” LORD BROWNE, BP chief executive
India: Oil crisis looming large
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, China to boost energy cooperation
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.
US Oil Supply: So Muddy And Deep
Some traders are handicapping the possibility of the U.S. tapping the Strategic Oil Supply. With one week to go before the election, and with long-term problems now being fully catalogued, the scenario becomes possible. The United State’s supply of oil is in tatters due to underwater mudslides caused by Hurricane Ivan.
