Insight and inspiration in turbulent times.
Oil prices may have fallen about 10 per cent from their high near $US50 a barrel in mid-August, but that’s not deterring fund managers, many of whom say the long bull run has a lot of life left in it.
Russian oil major YUKOS, fighting to prevent a cheap fire sale of assets in a tax dispute with the state, boosted oil-reserve estimates of its core Yugansk unit fivefold today.
Oil producers’ struggle to keep up with rampant global demand growth will only be won with access to oilfields now off-limits, Exxon Mobil chief executive Lee Raymond said yesterday.
IF THEY sound worried, it is because they are desperate. The multinational oil companies are rolling in cash but they have little to spend it on.
Energy investment banker Matthew Simmons has challenged the Saudi national oil company to substantiate its claims that it faces no imminent production problems and can reliably supply far greater amounts of oil than at present for at least 50 more years.
Oil depletion and global environmental crises represent a great threat to democracy, writes Peter McMahon.
World oil production will likely not be able to meet global demand as early as the middle of the next decade, according to a new study by Washington-based consultants PFC Energy.
To deceive ourselves into believing that growth is still possible by labelling it “sustainable” or “green” serves only to delay, and subsequently increase the severity of the consequences of peak oil.
Rising oil prices and pollution are fueling interest in green power in Asia but experts see no prospect of a rapid switch from the region’s growing dependence on oil, coal and gas.
Prices will most likely head back up — and if that happens, growth and the economy will be going down.
The war in Iraq could push oil prices to a record US$100 a barrel, Venezuelan President Hugo Chavez said Wednesday.
Saudi Arabia, long the largest supplier of oil to the United States, has cut U.S. sales dramatically and may soon no longer be among the top five largest U.S. suppliers.
