Insight and inspiration in turbulent times.
Deloitte & Touche LLP has urged regulators worldwide to update their oil and gas reserves reporting requirements and to expand the scope of mandatory disclosures in annual reports and financial statements.
We must apply the same can-do attitude and the same brainpower and technical resources to the alternatives-to-oil issue as we did to landing a man on the moon.
The United States rode out $55 a barrel oil last fall. But some economists say the latest jump in that key commodity poses a greater threat to the nation’s economic growth.
Amid the backdrop of soaring oil and gasoline prices, a sharply divided U.S. Senate on Wednesday voted to open the ecologically rich Alaska wildlife refuge to oil drilling, delivering a major energy policy win for President George Bush.
The Government still has a small window of opportunity to reduce New Zealand’s dependence on oil before price rises really start to hurt.
As U.S. crude oil prices soared past $56 a barrel to an all-time high on Wednesday, the government said that hedge funds and speculative traders were not to blame for rising crude costs.
Crude oil rose to a record $56.69 a barrel as a promise of increased output from OPEC failed to ease concern that demand for fuels is rising faster than supply.
The president of the Russian Union of Oil and Gas Producers said on Wednesday, March 16, that the country’s oil exports are in danger unless a program of geological exploration of new oil deposits is introduced.
A five-year oil boom is ending in Russia, the world’s second-largest oil exporter, as President Vladimir Putin increases government control over the industry, curtailing investment in new wells, rigs and pipelines.
The Bush administration made plans for war and for Iraq’s oil before the 9/11 attacks, sparking a policy battle between neo-cons and Big Oil, BBC’s Newsnight has revealed.
The slower increase in non-Opec supply is boosting demand for the cartel’s oil, reducing Opec’s already low spare capacity, while demand continues to grow.
Cartel producers say they can’t keep up with strong global demand. ‘This is their claim. But the fact of the matter is that nobody knows what their capacity is.’
— Sen. Ron Wyden
Dem. – Oregon
