The oil that drives the US military
Iraq has developed into a two-front war: the battles for control over Iraq’s cities and the constant struggle to protect its far-flung petroleum infrastructure against sabotage and attack.
Iraq has developed into a two-front war: the battles for control over Iraq’s cities and the constant struggle to protect its far-flung petroleum infrastructure against sabotage and attack.
India finally announced the long awaited announcement that she will tap into Chinese energy sources. The news was significant because India and China agreed to collaborate and support each other on Energy.
One of the biggest stories of 2004 was Peak Oil—the hardening consensus among analysts that global reserves of recoverable oil are half gone … which makes the current pipeline-terrorism fad more than a little ironic.
China is the last industrialized nation of the cheap energy age. Its factory production is keyed to the continuation of regular supplies of cheap oil. It has little oil of its own.
Russia is moving towards building new geopolitical muscle based on its huge oil and gas riches: this week Moscow conceded that its policy, notably in the Middle East, has been strongly connected with energy considerations.
China and India are locked in an increasingly aggressive wrangle with the United States over the world’s most critical economic commodity: oil.
The Iraqi government that emerges from Sunday’s election may open its oil business to foreign investment, and international petroleum companies are jockeying to curry favor with the war-torn country.
Includes report of planned & recent deepwater oil exploration off the coast of South Africa, and some pleasantly frank comments from the head of the SA Petroleum Agency.
Oil consumers on both sides of the Atlantic on Thursday outlined plans to secure energy supplies and reduce consumption amid growing concern over rising oil prices, potential terrorist threats and surging demand from avoracious China.
Venezuela has hailed the visit of Chinese Vice President Zeng Qinghong as a productive trip that will yield several multi-billion trade deals, mainly in the oil and gas sectors.
The myth or belief in OPEC overcapacity is a key cheap oil myth. The opposite myth, or rather belief is increasingle easy to prove: both OPEC and non-OPEC suppliers are not able to keep pace with world demand, their own domestic oil consumption, and ward off depletion losses.
Access to some of the most coveted oil reserves in the Western Hemisphere is at stake, with Venezuela exporting about 1.2 million barrels of oil a day to the United States, or nearly 15 percent of American imports. But the overtures to the Chinese, Russians and Iranians have added to worries among private oil companies that Venezuelan policies toward them are becoming increasingly unpredictable.