Insight and inspiration in turbulent times.
Saudi oil officials are considering when to start expanding their country’s long-term production capacity to stay ahead of the surging global demand for crude, executives at the state-run Saudi oil company said Thursday.
It is probably too early to definitively say whether the Hubbert model can be used for coal production in the U.S., but the examples of British coal, U.S. arsenic, and U.S. manganese seem to indicate that a Hubbert curve may be able to predict future production trends for U.S. coal.
Northern Alberta’s oilsands are expected to more than double production to 2.2 million barrels per day by 2015 and boost Canada’s standing as a major oil producer, but it will likely do little to meet the world’s growing energy demands.
Promotional text about a new book on Peak Oil by From The Wilderness Energy Editor, Dale Allen Pfeiffer.
WITH heavy investment fund buying driving oil prices up 27 per cent this year to a 21-year high, opinion is divided on whether large funds are buying on the basis of solid market fundamentals or creating a bubble, the Financial Times said.
The U.S. Agriculture Department’s chief economist, Keith Collins, said rising energy and fertilizer costs could add $1 billion to U.S. crop production costs.
Natural gas volumes needed to help the oil industry unlock Canada’s vast oil sands are expected to nearly triple in the next decade, just as production is waning and prices are surging, the country’s energy regulator said Thursday.
NOT SO long ago, a certain well-known international figure penned a heart-felt speech he called his “Letter to the American People”. In it, he said: “You steal our wealth and oil at paltry prices because of your international influence and military threats. This theft is indeed the biggest theft ever witnessed by mankind in the history of the world.” The author was Osama bin Laden.
As gas prices loft into the stratosphere, likely never to come down, we can expect to hear much doomsaying about how this will end the world as we know it. Let’s hope so.
The only certain beneficiaries of this coming economic chaos will be the big five oil corporations and their corrupt partners: the Nigerian generals, Saudi princes, Russian kleptocrats, and their ilk. Crude oil truly will become black gold.
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.
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?
