Fed. Reserve Governor Says Days of Cheap Oil Are Over
Federal Reserve Governor Ben Bernanke said the days of cheap oil are likely over, although he expects the economic consequences of higher energy prices will be “manageable.”
Oil
CGES: OPEC pushing limits of oil production capacity
According to a report by the London-based Centre for Global Energy Studies, most members of OPEC are pushing the limits of their oil production capability, and some probably are finding that their sustainable capacity is not as high as originally thought.
China set to buy Canadian
China’s Communist rulers have a blunt message for anyone who frets about the planned Chinese takeover of Canada’s biggest mining company: Get ready for more to come.
NZ Greens query oil price forecasts
The Green Party’s two co-leaders grilled [New Zealand] Government officials yesterday about grossly inaccurate forecasts made last October about future oil prices.
The End of Suburbia DVDs for Soldiers
Cheap versions of the “The End of Suburbia: Oil Depletion and The Collapse of The American Dream” are now available to anyone wishing to send it to an active soldier.
New Peak Oil Booklet
Mike Tooke of PowerSwitch.org.uk has produced an informative 20 page booklet introducing the topic of peak oil which can be downloaded for free.
No Longer Obeying Orders
In an excellent speech given in Johannesburg earlier this month, George Monbiot looks frankly and damningly at the state of corporate journalism, who’s institutional interests are at odds with any potential policy changes addressing climate change and resource depletion, such as the imminent global oil peak.
Brown Sees Short Path to Oil Independence
“With the price of oil above $50 a barrel, with political
instability in the Middle East on the rise, and with little
slack in the world oil economy, we need a new energy strategy,”
says Lester R. Brown, president of the Earth Policy Institute, a
Washington, DC-based research institute. “Fortunately, the
outline of a new strategy is emerging with two new technologies.”
Oil tanker shortages drive costs higher
With global oil demand surging and prices hitting record levels, the world’s 1,500 oil tankers are all booked up, and charter rates are soaring. The shortage of tankers is one sign of how strong demand and a lack of investment have left the oil industry’s infrastructure stretched thin.
Oil prices could double in 3 years
World oil prices will rise to $100 a barrel in three years if demand continues to grow at the rate it has this year, an expert on the global oil market predicted Tuesday during a trip to New Orleans.
Transneft: Russian Oil Output Slowing
“Russian companies have underproduced 14 million tons in January-September compared to what they initially planned,” crude pipeline monopoly Transneft’s head, Semyon Vainshtok, said Tuesday.
Oil-producing nations rank high in corruption
Most oil-producing nations are also rife with corruption, and oil companies should provide more information about their operations to help clean up the market, a global watchdog group said Wednesday in an annual report.
