Insight and inspiration in turbulent times.
“The American dollar is a flawed currency and will collapse in value before the end of the decade, taking with it the prosperity of the American nation.” Rogers’ reasoning is straightforward: raw materials are running out.
California-based Pacific Energy Partners L.P. plans to transform its two newly purchased regional pipeline systems in Alberta into a mainline to ship growing quantities of oilsands crude to refineries throughout the western United States.
The robust economies of Japan, Korea and China could open new doors for Canada’s heavy and synthetic crude, according to the Alberta Energy Research Institute.
This article comparing costs of various automotive fuels, off-handedly notes that “global oil production has reached its peak or will peak in the next decade and then production will run downhill.”
A report by China Petroleum and Chemical Corporation, China’s second largest oil company, has claimed there are 6.5bn tonnes (47bn barrels) of proven oil reserves in the country. International studies, including BP’s just-published statistical review of world energy, put it closer to 3.2bn tonnes.
Iraqi oil exports were hit by a rupture to a main pipeline in the south as the caretaker government said it would announce emergency powers to tackle the country’s rampant insurgency “very shortly”.
We need to face up to the crisis in energy consumption. Michael Meacher finds some solutions in The End of Oil by Paul Roberts
Indonesia, South-east Asia’s biggest oil producer, will be unable to prevent production declining within four years without increased exploration spending to find new fields, Energy Minister Purnomo Yusgiantoro said.
The project is situated off Russia’s eastern coast and estimated to have a maximum oil and oil-condensate output of 700,000 barrels per day — similar to that of OPEC member Qatar.
The smooth, prompt start-up of about a dozen big-ticket oil projects over the next 18 months is more important than ever to meeting global oil demand growth and keeping prices under control, analysts say.
Moore implies — correctly — that the primary motive for the war was to seize the oil fields. He does not discuss “peak oil” theory, which — if valid — does much to explain why Bush viewed this seizure as a necessity.
The Association for the Study of Peak Oil & Gas newsletter is, once again, essential reading.
