Insight and inspiration in turbulent times.
When geologists speak of Hubbert’s Peak, they’re not talking mountaintops or hairdos. They’re referring to a time – maybe not so far off – when the world will run out of fertile new oilfields and new ways to recover oil, and petroleum supplies will begin an inevitable and maybe very fast slide.
Iraq’s oil production is expected to remain constrained for the next one to two years by ongoing attacks against oil infrastructure, despite the US-led Coalition Provisional Authority’s (CPA) transfer of power to an interim Iraqi government, interim Prime Minister Iyad Allawi said June 28.
Two of Canada’s major oilsands producers are facing lower production targets this year due to unplanned maintenance at their huge open-pit mining operations in northern Alberta.
Every conflict since World War One has been influenced by oil in some way.
The minister stressed close contacts between Iranian and foreign contractors to help promote national oil, gas and petrochemical industries.
The fighting in Sudan’s Darfur region, which is being reported in the world press as ‘ethnic cleansing’ and a ‘humanitarian crisis’, reportedly stems from attempts to gain control over the oil resources in the region, claim Arab sources.
China is in discussions with a group of six Middle Eastern countries to establish a free trade pact, state media reported Monday.
Guinness Atkinson Asset Management LLC have released a report to publicise their Global Energy Fund which draws attention to the Hubbert Curve of oil production. “We believe that oil will breach the $100 per barrel level benchmark at some point in the next 15 years.”
Opponents say terrorists or earthquakes could turn the terminal’s vast stores of super-cooled gas into a mile-high fireball, destroying the port and scorching people and buildings a mile away in downtown Long Beach.
Any government concerned about global security and climate change should be banning 4×4s.
A significant factor behind the higher prices this year is the fear that the global oil industry is close to capacity.
Recent announcements from Repsol YPF, the big Spanish oil and gas company, indicate an ambitious expansion program, with projects planned for countries like Libya and Equatorial Guinea that are not for the risk-averse. But none has attracted as much attention as its gamble on Cuba.
