Oil

Saudi Arabia to produce 10mbd in July?

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When the Saudi oil minister speaks to the world’s business reporters, one cannot rely that his words will later match the kingdom’s official reports to international statistical agencies. Whether through sloppiness or otherwise, at least one of Mr al-Naimi’s statement and the Saudi report were in error to the tune of almost half a million barrels a day — more than five percent of production — at a time when oil markets are critically seeking signals of Saudi intentions and capabilities.

Peak? What peak? Greenhouse emissions keep increasing

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Back in the early 2000s, when I was starting to study peak oil, I used to think that oil depletion was our main problem. Climate change seemed to me a threat for the remote future and, probably, automatically solved by the depletion of fossil fuels. Over the years, however, I saw more and more data accumulating that show that it is not so. I am now convinced that climate change is a much more serious threat to humankind than peak oil.

Saudis still planning more nukes. Do they know something we don’t?

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Despite the plans of major electricity users around the world to pull away from nuclear power after Fukushima, Saudi Arabia has announced that it’s planning to start building power reactors at a breakneck pace. This could be yet another sign that Matt Simmons was right about the Saudi oil peak, signalling the beginning of the end of the Oil Age. But we have to wonder if the Oil Sheiks can control their new atomic toy.

Why doesn’t the UN consider energy depletion?

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In thousands of ways, UN policy helps shape how we respond to emerging crises, from basic poverty to world political events, from food to climate change and population. What is emerging, however, is that UN analyses are increasingly diverging from reality – as they attempt to describe our future, they have failed to adequately (or at all) take into account that most basic of all considerations, material limits on energy resources.

Sierra Club goes totally peak oil — almost

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A veteran anti-corporate campaigner, Michael Brune is not your ordinary environmentalist. And now that’s he’s in charge, America’s oldest and largest green group is no longer your father’s Sierra Club. So it’s no surprise that his book “Coming Clean,” re-released after the Deepwater Horizon spill, presents peak oil as a major energy challenge. But as a big fan of the green economy, Brune is more optimistic than many peak oil writers about the ability of solar, wind and other renewables to replace oil and coal. Is he right?

The OPEC meeting – How much will production really increase?

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The Organization of the Petroleum Exporting Countries (OPEC) will meet today June 8 in Vienna to talk about increasing oil production. Preliminary news reports are hinting at Kuwait and Saudi Arabia pushing for a 1.5 million barrels per day increase in production to cool off oil prices. West Texas Intermediate oil is currently a little below $100 a barrel, but most other blends are above $100 per barrel. Iran, Venezuela, and Iraq oppose the increase.

Who has time to worry about OPEC?

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Members of OPEC will agree to increase their official production today, but that won’t do much to lower prices — the plenitude of energy-related stress across the globe underscores more than ever how power has dispersed out of OPEC’s hands. It’s not only the civil war in Libya, and the loss of its 1.4 million barrels a day of oil exports, or the chaos in Yemen. From the South China Sea to Alberta, Canada, tempers are flared over the control and movement of oil.