Analyst: Era of $30 oil nearing end
Energy industry analyst and forecaster Henry Groppe says the days of crude oil prices at $25 to $30 a barrel are coming to an end.
Fossil Fuels
Norway: Low proving costs, but not much exploration
Even though it costs less to find a barrel of oil on the Norwegian shelf than many other places in the world, we do not manage to replace production through new discoveries. Now Norway must also tax its reserves due to a low level of exploration activity.
Why the coming oil crisis will last
There is a growing consensus that the crucial turning point in oil output will probably occur in the second half of this decade, in or around 2007. It will be an energy crisis that will dwarf anything we have ever experienced.
Despite Drilling, U.S. Gas Output Continued Decline in Q1
Three analyst groups have concluded that quarterly U.S. natural gas production dropped between 4.9-5.3% compared with a year ago, led by a sharp decline among the majors.
ASPO May newsletter
Association for the Study of Peak Oil and Gas newsletter.
US: High natural gas prices driving up well drilling in northwestern Pa.
Gas prices, and the demand for permits, have been increasing steadily for about the past five years.
Oil Demand to Rise the Most in 16 Years, IEA Says
World oil demand will rise the most since 1988 as economic growth accelerates and consumption surges in China, said the International Energy Agency, an adviser to 26 industrialized countries on oil policy.
UK oil production dropping.
Oil production in the UK has typically has a seasonal pattern, which makes it a bit of a surprise that this Feb was the worst month on the DTI’s site for oil production.
Dick Cheney, Peak Oil and the Final Count Down
In the April 2004 issue of the magazine the Middle East I found a statement that Vice- President Dick Cheney had made in a speech at the London Institute of Petroleum Autumn lunch in 1999 when he was Chairman of Halliburton. A key passage from his speech was: “That means by 2010 we will need on the order of an additional fifty million barrels a day.”
Don’t gripe about gas prices
Oil prices, at their highest levels for more than a decade, are trending upward. Natural gas prices are going out of sight. Yet more blips in the ups and downs of fuel costs? Or, as many believe, the start of an era of ever-more-expensive energy?
Australia: Budget cash to shore up oil reserves
The Federal Government will launch a major push to find another Bass Strait-type oil reserve to combat concerns over Australia’s looming oil supply crisis as part of a wide range of giveaways in today’s federal budget.
Oil Hits $40, Doubts OPEC Can Fix Supply
NEW YORK/LONDON – Oil prices bounced back to 13-year peaks above $40 on Tuesday on doubts that top world exporter Saudi Arabia’s call for a rise in OPEC quotas would add much actual supply to a tight international market.
