Powerswitch Newsletter 7th December 2004
More updates from the excellent British Peak Oil website.
Oil
Peak production in the news again
My proposition is that reduction in demand plus an addition in supply will delay peak production well beyond this decade.
Oman predicts lower oil production in 2005
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.
The Oil Trap
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.
OPEC Nations Seen Cutting Worldwide Deposits in Dollars
Member nations of the Organization of the Petroleum Exporting Countries have cut the proportion of their deposits denominated in dollars by more than 13 percentage points in the past three years, mainly to the advantage of the euro, the Bank for International Settlements said Sunday.
A Study of the Reporting of Saudi Arabia’s Reserves
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..”
India: Oil reserves will last only till 2016, says Govt
India has oil reserves to last only till 2016, if no new discovery is made, the Petroleum Minister, Mr Mani Shankar Aiyar, said today.
Is Saudi telling fairy tales about oil?
The most recent announcement from Saudi Arabia’s oil minister says its production is set to rise, but many in the industry feel the thoughts from Ali al-Naimi are based more on political fiction than energy reality.
Friedman: 21st-Century Fuel
If President Bush is looking for a legacy, I have just the one for him – a national science project that would be our generation’s moon shot: a crash science initiative for alternative energy and conservation to make America energy-independent in 10 years.
Pakistan-Iran-India talks on gas pipeline in January
Amanullah Khan Jadoon, the Pakistani minister for petroleum and natural resources, said on Friday that the Prime Minister is due to visit Iran next month where final talks over the Pakistan-Iran-India gas pipeline project would be held.
The Price of Oil
Ronald R. Cooke, author of Oil, Jihad and Destiny clarifies some of the curiosities of how the stated price of oil is calculated, and the price projections of the international energy agencies.
Up the creek with less oil, record debt
Here’s another reason we’re going to be sorry that we’ve allowed this administration to plunge the United States into record debt – we’re going to start running out of oil in the next decade or two.
