Shell Settles with SEC, UK for $151 Mln
Royal Dutch/Shell Group agreed on Tuesday to finalized settlements with U.S. and UK regulators which will cost the oil giant $150.7 million over its mis-statement of proven oil reserves.
Fossil Fuels
The era of cheap oil is history, geologist warns
Kenneth S. Deffeyes, a Princeton University geologist, has a suggestion for Thanksgiving 2005: “Give thanks for a century of cheap and plentiful oil.”
Doomsday nearer than you think
Nadine didn’t flinch when she acknowledged the inevitability of an oil shortage, which was remarkable because it would probably result in the end of civilization as we know it.
NZ: Road report ignores reality of ‘peak oil’, say Greens
Green Party co-leader Jeanette Fitzsimons is questioning the wisdom of building billions of dollars worth of new roads around the country, saying the rising price of oil will eventually leave them empty.
Peak oil breaks cover in the NZ Parliament
Transcript of exchange in New Zealand Parliament re oil depletion.
Tallying oil reserves: inexact science
Estimating how much oil a company owns thousands of feet underground is, at best, a slippery business.
Oil Prices Fall to $45 as Iraq Oil Flows
Oil prices fell nearly a dollar to end just above $45 on Tuesday, in a third day of losses as a more optimistic Iraq export picture helped unwind some of the supply worries.
An answer in Somerset: The Age of Entropy is here. We should all now be learning how to live without oil
‘Never again,” the Texas oil baron and corporate raider T Boone Pickens announced this month, “will we pump more than 82m barrels.” As we are pumping 82m barrels of oil a day at the moment, what Pickens is saying is that global production has peaked. If he is right, then the oil geologist Kenneth Deffeyes, who announced to general ridicule last year that he was “99% confident” it would happen in 2004, has been vindicated. Rather more importantly, industrial civilisation is over.
Stocks set for crash like 1987, Roach says
Global stock markets may have something far more ominous to worry about than the recent spike in oil prices, with one economist seeing a ‘Black Monday’ scenario in the making.
Oil’s slippery slope
s the neo-conservative dream of a “liberated” Iraq came true in April 2003, who would have predicted that 16 months later oil would become the ultimate time bomb for the Bush administration?
Why we (still) need 60 dollars per barrel
Oil is no longer a free good made available to the aging consumer heartlands, but a vital and hard-to-substitute commodity that is entirely nonrenewable at human timescales, and whose ultimate peak of production is looming ever closer.
Over a million barrels of oil a day lost to depletion
The world is now losing more than a million barrels of oil a day to depletion – twice the rate of two years ago – according to a new analysis published this month in Petroleum Review.
