Insight and inspiration in turbulent times.
If the Saudis plan to unilaterally boost their supply of crude oil, regardless of what the OPEC cartel decides to do — a promise the Saudi Arabian oil minister made last week — then why have crude prices continued to climb?
U.S. oil refiner ConocoPhillips turned down an offer to take extra oil from top OPEC exporter Saudi Arabia because the oil was too heavy a grade, a trader at the company said on Tuesday.
LONDON — The Royal Dutch/Shell Group downgraded the size of its proven oil and gas reserves yesterday for the fourth time this year as the oil giant continued to stumble over a scandal that shocked the markets and forced the resignation of three top executives.
The journalist’s rule says: follow the money. This rule, however, is not really axiomatic but derivative, in that money, as even our vice president will tell you, is really a way of tracking energy. We’ll follow the energy.
North Americans complain about fuel costs. But to avoid a possibly unprecedented human crisis in coming decades, they should be urging their governments to allow the price of oil and natural gas to rise even more.
The Oil and Gas Journal published on May 17th an article by Mr Sadad al-Husseini, who was until recently an Executive Vice-President of Saudi Aramco. He refers to the doubts raised by ASPO regarding the validity of the 260 Gb (billion barrels) claimed by the country as remaining reserves, admitting that a policy of withholding technical information has given grounds for uncertainty.
Secret policy changes made oil and gas development the dominant use of federal lands.[US]
Crude oil futures rose on concern that a promised Saudi Arabian production rise and any Organization of Petroleum Exporting Countries quota increase at a meeting next week won’t meet rising demand.
In the June issue of National Geographic, you can read an article called, “The End Of Cheap Oil.” For the opposite perspective, read “Never Cry Wolf — Why The Petroleum Age Is Far From Over” in the current issue of Science.
The following article was first published by Frankfurter Allgemeine Sonntagszeitung on Sunday 23 May 2004.
Oil is scarcer than ever. The price for petrol is at record levels. The economy, consumers and of course politicians are all worried. Therefore, an urgent appeal to oil producing countries has been made to pump more into the market so that prices once again fall. As in the past, this could happen again; but next year, perhaps, no longer, and thereafter, never again.
Federal agency works to finish LNG safety report; consultant says difficult to predict fire potential from spills
THE United States has managed to thrive despite high budget deficits and a staggering level of international indebtedness. Can it also thrive if oil prices remain above $40 a barrel and gasoline costs more than $2 a gallon at the pump?
