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A boast by Mexico’s Pemex that it may have spotted new deposits big enough to double its oil reserves has put fresh pressure on the state energy monopoly to finalize joint ventures needed to access the potential deposits.
Britain became a net importer of oil for the first in more than a decade in July. North Sea oil output is expected to be “more or less over” by 2020 according to ASPO.
North Slope crude oil production was down 24 percent in August compared to last year and continued to fall short of expectations through the first week of September.
Conspiracy theorists to scientists and pundits from the auspices of the National Geographic to the BBC are all in agreement that we are reaching a point called “peak oil”.
World oil stocks will swell in coming months unless OPEC producers pull back from a production surge that is replenishing inventories, the International Energy Agency said on Thursday.
As the UN Security Council is debating a US draft resolution on the Sudan crisis, based on colliding views whether a genocide is or is not happening in Darfur, the issue of Sudan’s oil is becoming a key factor.
UK interest rates must rise at a faster rate than currently forecast if oil prices stay permanently above $42 a barrel, new research has suggested.
Australia and Mexico will forge an energy co-operation agreement in November, the energy minister of Australia, which wants to sell more coal and gas to the Latin American country, said yesterday.
Since oil production peaked in the United States in 1970, a growing number of geologists, economists and industry analysts have been pondering the question of just how long worldwide supplies will keep up with growing demand. And some are predicting that global production may peak as soon as next year.
The Family, The Real Story of the Bush Dynasty by Kitty Kelly is an exposé on three generations of the Bush family. Kelly, who collaborated with Sharon Bush on the book, makes the allegation that George W. Bush understands both that world oil production will soon peak and that this has dire implications for the world economy – he’s just not letting on.
Despite vaunted crude oil finds in Africa and Latin America, widespread pumping decreases will make global markets more dependent on the Middle East and Russia over the decade, a study released on Wednesday found.
“A book would need to be written in order to fully explain and diagram the on-going discussions and controversy that surrounds the prospect of drilling on the Rocky Mountain Front in Montana.”
