Insight and inspiration in turbulent times.
BP seeks to maintain this myth that current reserves are sufficient today to support current production for forty years. By perpetuating this misleading notion, I think one has to conclude that BP seeks to mislead—this is not just an accident.
An oil industry conference on Peak Oil from 19 – 21 October 2004, Koblenz-Lahnstein, Germany.
The Energy Bridge, with its tankers far beyond the horizon, eliminates the risk of explosions on land and thus sidesteps not-in-my-backyard controversies.
The Venezuelan government said Wednesday it may suspend oil shipments to the United States in case of an eventual conflict with that country.
A few months ago waves of information about a theory called “Peak Oil” started to reveal a potential nightmare upon my computer desktop.
It was generally believed that media, as a trustworthy dissemination subsidiary of knowledge, is an independent source of factual information whose purpose is to inform public objectively about current issues based on widest possible range of opinions. Statistics science is a powerful tool in shaping this factual information. Unfortunately it might nowadays used by media as an invisible weapon to promote a particular point of view and to sound more convincing.
Queensland Energy Resources, which runs the demonstration plant, says it will be placed into care and maintenance around September. The controversial project has been plagued by environmental issues.
BUENOS AIRES (Dow Jones)–Argentina and Venezuela will extend this year’s fuel-for-food accord over the coming years, giving Argentina the option to continue importing diesel and gasoil from its South American neighbor, if current gas and power shortages remain a problem.(Adds comments from Planning Minister De Vido’s spokesman saying this year’s $ 240 million fuel contract deal would be renewed in 2005.)
If YUKOS has to reduce oil export, it may affect the world markets’ oil supply, believes YUKOS CEO Steven Theede.
While consumers pay for perceived shortages at the pump, scientists and economists struggle to reach consensus over “proven oil reserves,” or how much oil you can realistically mine before recovery costs outstrip profits.
Russian oil giant Yukos faced being torn apart after bailiffs said they would sell off its main operating arm to settle a $3.4bn bill for back taxes.
The House Financial Services Committee in the United States plans to begin a hearing Wednesday on the oil reserve scandal at Royal Dutch/Shell, a move that is sure to expose the company to more public criticism, and could provide additional fuel to class-action suits.
