Americans living on borrowed time
In the first of a three-part series Larry Elliott and David Teather explore the economic recovery that never was
Oil
Over a Barrel
Experts say we’re about to run out of oil. But we’re nowhere near having another technology ready to take its place.
World oil prices set for significant fall over next two years
World oil prices will be driven down over the next two years due to there being enough crude to meet soaring demand, Claude Mandil, executive director of the International Energy Agency (IEA), said here Tuesday.
Ex-Aramco VP: Oil supplies ‘over-estimated’
Channel 4 News has been told by a top Saudi oil industry insider that the American government’s forecast for future oil supplies are a “dangerous over-estimate”. Sadad Al Husseini has just retired as vice-president of the Saudi oil company Aramco.
Oil industry faces crisis similar to 1970s, CGES warns
The oil industry, faced with record high crude prices, is facing a structural crisis of the severity not seen since the 1970s when crude prices soared to unprecedented summits, an energy consultancy warned Monday.
Post Carbon News Alert: Bush has no doubts about Peak Oil
Pulitzer Prize winning author and journalist, Ron Suskind reports for the New York Times Magazine that George W. Bush knows about oil peak. In fact, he’s got a plan that extends beyond making Iraq the 51st state.
US Dollar Has Longest Losing Streak Since January 2003 on Oil
The dollar fell against the euro for the ninth straight day, the longest losing streak since January 2003, on concern record oil prices will slow U.S. growth.
Oil prices hit new highs on Norway strike fears
Oil prices raced up to new record highs, approaching 56 dollars in New York amid fears a strike could cripple supplies from Norway, the world’s third-largest oil exporter.
Energy Ostrich
A number of large oil producers in the world, including Norway and the UK, had reached their peak in production and the world will have to rely on the Middle East nations to bridge the gap. But even in Saudi Arabia the large oil fields have already been producing for decades and are close to their peak.
Energy fight? Not This Year
The guys on the campaign trail keep trying to ig nore the trillion-pound rhinoceros in the room. But soaring oil prices thunder the obvious: America had better prepare for a possible fall in world oil output if it doesn’t want to be left without affordable energy options.
Researchers seek ‘holy grail’ of oil sands production via underground refineries
The University of Calgary has recruited two international heavy oil experts to chase some oil sands dreams, notably ways to refine raw bitumen underground as “Canada cannot sustain for … more than probably 20 years the use of natural gas and diluent to produce bitumen.”
The signposts point to more nuclear power
OIL at more than $50 a barrel concentrates the mind. What looked like a spike in prices is now taking on an air of permanence. Even when the price subsides, as it will, it will remain higher than seemed likely even a few months ago.
