Chart watchers eye $70 peak for oil
Signals are growing that oil’s price surge could push all the way to $70 a barrel, according to the technical analysts who forecast market trends by interpreting chart patterns.
Oil
How to Bring Down Civilisation
Derrick Jensen thinks the collapse of civilisation, be it deliberate or through oil depletion or any other means, can only be a good thing for the planet.
Venezuela raises oil drilling tax
Venezuela has announced that it is increasing the royalties paid by foreign oil companies from 1% to 16.6%.
World oil demand estimate raised
The International Energy Agency has revised upwards its estimate of world oil demand, quashing hopes of an imminent decline in oil prices.
Oil and Empire in the Middle East
Henry Kissinger’s famous declaration that, “Oil is too important to be left to the Arabs” best expresses the experience of the Middle East over the last century.
Energy transition and final energy crisis
The current ‘oil price crisis’ in reality reflects an emerging and permanent supply crisis for oil and gas (which currently provide about 65% of world commercial energy).
Pouring oil on troubled economists
My sense of last weekend’s G7 meetings is that there is an atmosphere of suppressed panic about the oil price, and about the danger of a serious crisis.
Top oil groups fail to recoup exploration costs
The report shows the commercial value of oil and gas discovered over the past three years by the 10 largest listed energy groups is running well below the amount they have spent on exploration.
Venezuela plans to ride oil to economic growth
Venezuela aims to ramp up oil production to an average 3.6 million barrels per day in 2005 to generate 5 percent economic growth and build on this year’s oil-driven recovery, according to the government’s draft budget for next year.
Oil price rise hits cattle operator
One of Australia’s largest cattle operators says the dramatic rise in oil prices this year has cost it about $1 million.
Michael Klare on oil wars and the American military
Despite official administration dreams of drastically raising Iraq’s oil output and then using it to float our occupation, we’ve essentially “lost” Iraqi oil — as has the rest of the planet.
North Sea production wilts
North Sea oil production has sunk more than 260,000 barrels per day from last year, aggravating a shortage of high-quality crude that has stoked record prices.
