Oil prices hit new highs on Norway strike fears
Oil prices raced up to new record highs, approaching 56 dollars in New York amid fears a strike could cripple supplies from Norway, the world’s third-largest oil exporter.
Fossil Fuels
Energy Ostrich
A number of large oil producers in the world, including Norway and the UK, had reached their peak in production and the world will have to rely on the Middle East nations to bridge the gap. But even in Saudi Arabia the large oil fields have already been producing for decades and are close to their peak.
Oil industry faces crisis similar to 1970s, CGES warns
The oil industry, faced with record high crude prices, is facing a structural crisis of the severity not seen since the 1970s when crude prices soared to unprecedented summits, an energy consultancy warned Monday.
National backlash threatens British stakes in Bolivian gas
INVESTMENTS by leading British energy companies in Bolivia’s huge gas reserves are under threat from a popular movement clamouring for nationalisation of the country’s hydrocarbon resources.
The State Jumps Back into the Market
A decade after the controversial privatisation of Argentina’s oil, gas and power industries, the state is staging a return to the energy sector with a new company created to influence a market controlled by a handful of mainly foreign companies.
Post Carbon News Alert: Bush has no doubts about Peak Oil
Pulitzer Prize winning author and journalist, Ron Suskind reports for the New York Times Magazine that George W. Bush knows about oil peak. In fact, he’s got a plan that extends beyond making Iraq the 51st state.
The technofix isn’t. On “greening the petroleum economy”
Renewable energy works almost solely on the basis of using local resources, and can’t contribute efficiently to a grid in the quantities desired. What Amory Lovins knows, deep down, is that the peak of oil extraction globally will not allow for a transition to a less-intensive energy diet. His plan would have made sense three decades ago, perhaps, when global warming seemed just a theory.
Counting the Hidden Costs of War
IT’S often said that truth is the first casualty of war. During a presidential campaign, that may be more apt than ever. Consider a seemingly simple question: What is the cost of the Iraq war to the United States?
War for oil has been U.S. policy for years
No war for oil, says the Michael Moore branch of the antiwar movement, meaning that the United States shouldn’t fight to advance the interests of the petroleum industry.
US: Energy independence may be a pipe dream
The presidential candidates are touting their plans to reduce the USA’s reliance on foreign energy sources. Are the campaign promises simply running on empty?
Researchers seek ‘holy grail’ of oil sands production via underground refineries
The University of Calgary has recruited two international heavy oil experts to chase some oil sands dreams, notably ways to refine raw bitumen underground as “Canada cannot sustain for … more than probably 20 years the use of natural gas and diluent to produce bitumen.”
Energy fight? Not This Year
The guys on the campaign trail keep trying to ig nore the trillion-pound rhinoceros in the room. But soaring oil prices thunder the obvious: America had better prepare for a possible fall in world oil output if it doesn’t want to be left without affordable energy options.
