Insight and inspiration in turbulent times.
Canada is striving to sell major consuming countries on the potential of its vast oil sands to help meet energy demand, but a recent string of output disruptions makes the job tougher, analysts said on Friday.
Representatives of indigenous peoples blocked more than 100 pieces of heavy machinery in Sakhalin on Friday to protest against local oil and gas projects.
OAO Yukos Oil Co., Russia’s biggest oil exporter last year, defaulted on long-term contracts to supply refiners after the government sold its biggest oil-producing unit to collect more than $20 billion in back taxes.
President Chavez’s goal of reducing his country’s almost total dependence on the U.S. oil market may precipitate a global shift in which China will benefit by helping to meet its exponentially growing energy demands with Latin American oil.
Industrialised countries are heavily dependent on fossil fuels, especially oil and gas. Gas and oil together provide 70% of the energy used in both the US and UK. But the world’s reserves are rapidly diminishing, and they don’t have to actually run out before precipitating a crisis. (An introductory article to Peak Oil)
An oil-free New Zealand is on the Green Party’s agenda. … co-leader Jeanette Fitzsimons warned of an oil crisis within 10 years. “The end of cheap oil is coming towards us with the force of a tsunami and New Zealand is not ready,” she said.
An energy tsunami formed due to a number of multi-billion dollar energy deals in oil and gas involving Iran, India, Russia and China has been unleashed in Asia, with great economic and political implications for the United States in particular and our global society in general.
Our civilization “is the first to develop a level of personal comfort that creates the illusion and the expectation that, thanks to our civilisation and our technology, we can forever conquer cold, hunger, pain, illness and eventually death itself. We have done this thanks to the use of one substance: oil.”
Sir Mark Thatcher’s decision to plead guilty to unwittingly helping an alleged African coup plot is the latest twist in one of the more bizarre and murky tales in the continent’s history of power struggles involving natural resources.
Norway’s oil production is likely to slip to 2.8 million barrels per day (bpd) in 2005 but combined oil and gas output will hit a new record and peak in 2008, the Norwegian Petroleum Directorate said on Thursday.
The unabated rise of international oil prices and depreciation of the dollar will push economic growth in the US down to about 2.5% in 2005, but will have little impact on economic growth in the European Union, where growth is expected to accelerate modestly.
The world’s oil production may be about to reach its peak – forever. Such apocalyptic prophecies often surface in the middle of the northern hemisphere winter. What is unusual is that this time the doomsday scenario has gained serious credibility among respected analysts and commentators.
