CBS: Got Oil? (video)
Sharyn Alfonsi looks at reports that oil companies that claim to have growing reserves have not been able to match reserves with production. The companies may have been overstating supplies.
Fossil Fuels
Asia seeks dialogue with Opec
Asian economies want talks with Opec as part of a strategy to improve regional energy security and combat rising oil demand and high prices, officials from the Asian Pacific Economic Cooperation (Apec) group said yesterday.
Security of oil tankers fuels worry
It is far from clear, experts say, whether the existing fleet can handle the new production that Saudi Arabia and others have promised in coming months.
BP may be forced to downgrade reserves
BP is preparing to downgrade up to 3 per cent of its oil reserves, according to investment bank Goldman Sachs.
US: Company mulls coal-to-diesel plant
A company has begun studying the feasibility of a plant that would convert coal into diesel fuel.
It would be the first plant of its kind in the United States.
The debate over arctic oil drilling erupts again
WASHINGTON — Hoping to capitalize on public ire over record-high gasoline prices, advocates of opening the Arctic National Wildlife Refuge for oil exploration predict the House next week will authorize drilling there.
US: Anti-LNG ad to hit airwaves
FALL RIVER — After weeks of using signs, handouts and word of mouth to voice its opposition to the plan to bring a liquefied natural gas facility to the city, the Coalition for the Responsible Siting of LNG Facilities will soon begin spreading its message through television commercials.
An Oil Enigma: Production Falls Even as Reserves Rise
Even as reserves have risen, ChevronTexaco’s annual output has fallen by almost 15 percent, and the declines have continued recently despite a company promise to increase production in 2002.
African Leaders Open $3.7B Oil Pipeline
Central African leaders officially opened the taps Saturday on one of the largest private investments in sub-Saharan Africa – a 663-mile, $3.7 billion pipeline snaking from Chad through virgin rain forests to the Atlantic.
Wall Street Life: Take an oil price over $40 – then quadruple it
Simmons reckons that the correct price for oil so that demand is controlled while humankind comes up with another plan is $182 a barrel.
Author: U.S. faces a reality check over oil
Gasoline at $2 a gallon may be just a pleasant memory in a few years as energy prices continue to surge, warns author Paul Roberts.
Raymond: Facing Some Of The Hard Truths About Energy
For a variety of reasons, we expect fossil fuels to provide about 80 percent of the energy used in 2020, and to increase — and I emphasize increase — in absolute magnitude by about 65 million oil equivalent barrels per day. Just how much is 65 million barrels per day? Well, it is close to eight times Saudi Arabia’s current crude oil production.
