Canada: City gas pump price passes $1
The price of regular gasoline has passed the $1 mark in a large Canadian city, apparently for the first time.
Oil
Has Ghawar truly peaked?
A monthly publication put out by the Bank of Montreal argues that “Hubbert’s Peak must have arrived for Ghawar, the world’s biggest oilfield, and Wall Street’s most-cited reason for assuring us month after month that oil prices would plunge…”
Running on empty
When the Labor backbencher Andrew McNamara rose from his seat in the Queensland Parliament in February to state a few home truths about falling world oil supplies, he expected, at most, a few catcalls from the Opposition benches. Instead, the speech by the provincial solicitor from Hervey Bay “bounced around the world”.
Get your foot off the gas – it’s black gold
What will cost $3 a litre, require car-pooling, the permanent military occupation of Iraq and oil drilling on the Great Barrier Reef? Petrol, according to experts who have been contemplating its future in an oil-poor Australia.
Why Our Food is So Dependent on Oil
Excellent review of the current cheap-oil-energy and material intensity of UK food production and makes a good case for relocalisation as integral to improving the situation.
Goldman Sachs: Oil Could Spike to $105
Oil markets have entered a “super-spike” period that could see 1970’s-style price surges as high as $105 a barrel, investment bank Goldman Sachs said in a research report.
Russia raises oil export tax
LOS ANGELES — The Russian government plans to increase its oil export duty to a record $102.60/tonne starting Apr. 1. The duty has been $83/tonne since Feb. 1.
During December 2004 and January, the duty was $101/tonne, the previous highest level. Russia’s oil export duty is reconsidered every 2 months.
Shell pumps twice as much as it finds
But similar to industry trend where private oil companies can’t locate large future reserves.
Philippines: Four-day work week to save energy
Philippines President Gloria Arroyo ordered most Philippine government offices to go on to four-day working weeks in April and May to conserve energy amid surging crude oil prices, the presidential palace said today.
Oil prices spread to grapes, TVs, pizza
The hike in oil prices is beginning to ripple through the economy, pinching consumers at places far beyond the gas pump.
Peaking World Oil Production Could Cause Severe Disruptions
The United States must act now to deal with peaking world oil production or face disruptions far greater that the 1973 oil embargo or the 1979 Iranian oil cutoff, according to an article in the spring issue of Issues in Science and Technology.
Asia bent on having own oil market despite warnings
Several Asian countries are pushing ahead with their long held objective of establishing a regional oil market for cheaper supplies, despite warnings such an initiative could backfire.
