Insight and inspiration in turbulent times.
This is part of the world’s largest and most expensive filling station, the United States Strategic Petroleum Reserve, where a large portion of the government’s nearly 700 million barrels of oil are stored in underground salt shafts that are supposed to be stable into the 2020’s.
Europe is becoming more and more dependent on Russian energy supplies, making it vulnerable to high prices that help Moscow reach growth and investment objectives, IEA executives say.
A major Chinese state-owned oil and gas company confirmed Monday it is interested in investing in Alberta’s oilsands, as the world’s most populous country seeks energy sources to fuel its growing economy.
The low energy effectiveness of the Russian economy may lead to a situation where Russia will be forced to stop all exports of energy sources such as oil and gas as early as 2010.
THE world’s biggest energy companies are preparing to fight it out for a stake in Libya’s alluring oil and gas industry.
Exclusive information gathered by Asia Times Online suggests that the latest incident of violence in the port city of Jeddah in Saudi Arabia is the manifestation of extreme discontent within the Saudi socio-political system, which will be further reflected in the shape of more violence in the coming days.
More updates from the excellent British Peak Oil website.
My proposition is that reduction in demand plus an addition in supply will delay peak production well beyond this decade.
A swamp near here is one of the most secretive places in America. There are no signs, just a 500-acre complex protected at all times by 30 armed guards in combat fatigues patrolling in sport utility vehicles.
An empirical challenge to USGS/USDOE forecasts of future Saudi oil production, with some important comments from industry figures at the end, e.g. “..Billions of barrels of oil calculated to be part of world reserves by the US government include nearly unusable pitch..”
Oman, which has battled to halt a drop in oil production, is estimating a lower daily output of 750,000 barrels next year, the national economy minister said in remarks published Sunday.
Nobody – not even George Bush and Dick Cheney – believes that the
Earth is producing more petroleum, at least not within an interval of
time or at a scale to be of any use to us or to our successors.
