Insight and inspiration in turbulent times.
“From the shift away from exploration spending and toward development spending you can see that the supermajors in particular are focusing on getting their returns from what they have got already, rather than going out and finding more,” said IHS Energy’s Chew.
Representative Ellen Story of Amherst is hosting an informational
session on Peak Oil and its consequences in Boston on Tuesday. The purpose
of the session is to inform Massachusetts’ legislators, staff, and the public
about the implications of the imminent decline in global petroleum production.
A letter to Urbansurvival.com that debunks two of the favouite myths of peak oil sceptics: that oil discovery will or can increase, and that higher prices will ‘find’ or make exploitable ‘new’ oil.
The results of the third round of elections in Ukraine in which Viktor Yushchenko has just been proclaimed the final winner, far from being grounds for jubilation in Ukraine and beyond, ought to give concern for the future of Ukraine to many. The story has major implications for the dollar, oil and gold.
Moves by Middle East oil exporters and Russia to switch some revenue from dollars to euros lie behind the U.S. currency’s weakness, and a further rise in crude prices could prompt more declines, the billionaire investor George Soros said on Monday.
Saudi Aramco is planning to carry out two new projects by the end of the decade aimed at boosting the country’s oil production.
In response to the bold moves by the Bush Administration to move its NATO and direct US military presence into the vital energy choke points of Eurasia, the major Eurasian powers are taking definite steps aimed at self-survival in energy, even military defense. (Considers Peak Oil.)
Energy investment banker Matthew Simmons, of Simmons & Co International, has been outspoken in his warnings about peak oil before. His new statement is his strongest yet, “we may have already passed peak oil”.
India, sharing a ravenous thirst for oil, has joined China in an increasingly naked grab at oil and natural gas fields that has the world’s two most populous nations bidding up energy prices and racing against each other and global energy companies.
The objective of this research effort was to characterize the size and direction of the worldwide market for crude oil, including the depletion of reserves and the impact that alternative depletion scenarios would have on oil production and consumption. These scenarios were then analyzed in order to determine their impact on world and national economies, with a special focus on the United States.
Activist and author George Daffan on Peak Oil, the collapse of civilisation and the role of the mass media.
A 15-year decline in oil reserves is spurring companies such as Royal Dutch/Shell Group, Exxon Mobil Corp. and ChevronTexaco Corp. to spend $76 billion in the next decade to boost supplies of oil from tar sands and diesel fuel from Qatari natural gas. Oil executives say they have no choice but to try alternatives to drilling because there is not much more crude to be found in their current fields.
