Expert: Russian Oil Exports May Decrease
Oil exports from Russia – the world’s second-largest oil producer – may decrease within two years, a top Russian oil industry expert warned Tuesday.
Oil
IEA expects world oil prices to decline further
Crude oil prices declined to below the $47 per barrel mark today on expectations of continued rise in the US oil and natural gas inventories.
US: Heating oil costs forecast to soar 37%
Homeowners who heat their houses with heating oil will see their bills jump more than 37% this winter from a year ago, the government said Tuesday in a report that also projected increased costs for all other heating sources.
The United States of America is in freefall.
The $7 trillion national debt, unparalleled domestic consumer debt, the fall of the dollar and rise of the Euro, peak oil, the rise of the biggest markets by far in Europe and China – all adumbrations of a collapsing U.S. economy. [Warning: political rant]
Russian Oil Tanker Jams Suez Canal
The oil tanker Tropical Brilliance owned by the Russian partly state-owned Sovcomflot company and sailing under a Liberian flag has caused a traffic jam at the Suez Canal, after experiencing steering gear failure and grounding itself across the canal.
US oil output lowest since 1950
US oil output has fallen to its lowest monthly level in more than 50 years in the wake of Hurricane Ivan.
Global Warming Exposes Arctic to Oil, Gas Drilling
Rising global temperatures will melt areas of the Arctic this century, making them more accessible for oil and natural gas drilling, a report prepared by the United States and seven other nations said on Monday.
UK oil balance moves into deficit
The UK’s oil trade balance swung into the red for the first time in 13 years in September, the Office for National Statistics (ONS) has said.
Apocalypse Denial
Even those Americans who don’t care to — and still don’t have to — peer over the wall already essentially know what’s on the other side. That’s the nature of denial. After all, you can’t deny what you don’t, at heart, know to be so.
Physics professor predicts oil crisis
California Institute of Technology professor and vice provost David Goodstein said the world is headed toward a global oil shortage that could cause warfare, economic depression and the crumbling of institutions.
International Energy Agency accepts Peak Oil
Dr. Aleklett says that the IEA’s World Energy Outlook for 2004 shows an acceptance of peak oil concepts, but the message is not obvious. In this article, he decodes Chapter 3 of the report.
Not So Vast As Our Failure
“Our ignorance is not so vast as our failure to use what we know.” — Marion King Hubbert
