Oil Addicts Anonymous Open Chapters Across the Midwest
A new organization is being founded this month in cities across the Midwest – Oil Addicts Anonymous – modeled after the multitude of successful 12 step programs such as Alcoholics Anonymous.
Oil
Why oil prices are barreling up
In the past week, oil prices have regained about US$3 a barrel after hitting a low of $45. Apart from the perennial US weather factor, positive sentiment was reinforced by IEA (International Energy Agency) data revising previous forecasts for world oil demand growth in 2005 by 80,000 barrels per day.
Russia: The period of easy oil extraction is over.
Transneft president says, “Beyond 2005 we will probably reach the ceiling in [Russian oil] output. The period of easy oil extraction is over and to boost output further we need serious capital investment and more time.”
ChevronTexaco Warns of Global Bidding War
Asia’s insatiable appetite for oil coupled with tight supplies has triggered the start of a global bidding war for oil from the Middle East, the head of ChevronTexaco Corp. said on Tuesday.
We Need the Oil, Right? So What’s the Problem?
Such openness is rare; it set me back on my heels. The question came last Monday as I finished a lecture in Pewaukee, Wisconsin–the first of a handful of talks I gave for “Great Decisions 2005.”
OPEC, EU to Hold Twice-Yearly Meetings on Oil Market
OPEC, producer of more than a third of the world’s oil, and the European Union plan to hold twice- yearly meetings to discuss how to maintain a stable oil price acceptable to producing and consuming countries.
New Caspian Oil Likely to Cushion Market, nothing more
But many Caspian estimates proved to be unrealistic, at least in the short term. Experts now say the Caspian should in coming years pump some 4 million to 5 million barrels per day, on par with Iran.
China replacing the United States as the worlds leading consumer
Although the United States has long consumed the lion’s share of the world’s resources, this situation is changing fast as the Chinese economy surges ahead, overtaking the United States in the consumption of one resource after another.
Oil prices push UK manufacturing costs up
British manufacturers’ raw materials costs rose at their sharpest pace in four and a half years in January as the price of crude oil and imported goods surged.
China Says Oil to Exceed 50 Percent of Its Energy by 2010
China will rely on oil for more than half of its energy by 2010, when net imports will rise to between 180 million tons and 200 million tons of oil a year, a Chinese official said.
Peak Oil: Time to Get Serious
The skeptics think that it is already too late. Isn’t time to get serious about peak oil and global warming? About navigating The Bottleneck? About imminent global societal collapse?
India and China battle over Russian oil
India is fighting China in the battle for Russian oil by angling for a supply deal and a stake in Yuganskneftegaz, the oil unit that was seized from Yukos and is now owned by Rosneft, the state oil company.
