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.
Oil
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.
The future of energy security
In the aftermath of 9/11, fears of global oil disruption sent prices up by nearly 30 percent to over $30 a barrel. During June/July 2004, the price of oil hovered around $40 a barrel. During September/October the price of oil rose to $50 a barrel, and the high price will remain for the rest of the year. By December 2005, the price of oil is likely to reach $80 a barrel. Growing demand of China and India will be the main cause of this price spike.
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”.
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
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.
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.
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.
