Insight and inspiration in turbulent times.
In its October 13, 2004 story ‘Pump Pain
Politics,’ CNN Headline News and CNN Financial News have broken rank with
mainstream television news by addressing the real geological driver behind
rising oil and gas prices.
With oil prices surging, crude producers in the Permian Basin, the U.S.’s oil heartland, are scrambling to squeeze more oil out of their wells.
In the last of the Guardian’s series on the UK’s declining oil reserves, oil chiefs explain why Aberdeen has reason to be cheerful…our overall oil reserves may be in permanent decline but there is still plenty of money to be made and no need yet for despondency.
While peak oil has hit the mainstream news, government planning bodies still depend on the “optimistic” forecasts of the international energy agencies. This paper documents these agencies’ past failures and carefully dismantles their research methods, revealing that the world’s governments are acting on false assumptions, blindly moving towards an energy crisis without precedent.
Two days of talks are capped by signing of border pact and other deals but there is no announcement about oil pipeline.
Like a tragedy, the crisis we face is set to inexorably unfold. It is a denouement that is likely to herald the end of modern industrial civilization as we know it, which is perhaps why, as environmentalist George Monbiot says, we collectively choose to deny that it is taking place.
Oil imports help push deficit to 2nd-highest level on record.
Russian President Vladimir Putin is holding talks in Beijing on contentious plans for an oil pipeline.
Higher petroleum prices would hurt economic growth around the world next year, the International Energy Agency said.
U.S. crude oil output in September fell to the lowest monthly level in more than 55 years because of Hurricane Ivan and interruptions for maintenance in Alaska, the American Petroleum Institute said.
Crude oil rose close to a record on concern that refiners will lack the supplies to meet demand for heating fuel during the northern hemisphere winter.
Investors know jet-fuel prices are killing airlines’ profits, but they will soon get an up-close view of the damage when major carriers begin reporting third-quarter earnings.
