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.
Oil
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.
Oil hits $US53 for first time
New York’s main crude oil contract has shot to $US53 a barrel for the first time in opening trade as fears rose for heating oil supplies in the United States winter.
The Consequences of Oil Dependency
Oil and gas account for the lion’s share of US energy consumption and are critical to transportation, home heating, and electricity generation. Soon we will have less of these fuels to go around, despite an expanding population and the constant demand for more energy to fuel economic growth.
The “Abiotic Oil” Controversy
The abiotic theory holds that oil is from inorganic origin, and that there must be nearly limitless pools of liquid primordial hydrocarbons at great depths on Earth. If the abiotic theory does eventually prove to be partially or wholly scientifically valid (a big “if”), it might have little or no practical consequence in terms of the imminent global oil production peak.
IMF: High Oil Price a Threat for Years
Tight oil supplies could leave the global economy worryingly vulnerable for years to come, a senior International Monetary Fund official said on Thursday.
Shell make “major” oil find in Brunei
When Shell describes a new oil discovery equal to about one day’s global demand as “major” it’s another sure sign that oil exploration is well past its heyday.
Oil Fantasies
Energy economist Philip Verleger Jr. attributes the present price run-up to massive miscalculation. Oil companies and OPEC underestimated global demand, particularly from China.
Denmark wants to claim North Pole
Denmark aims to claim the North Pole and hunt for oil in high Arctic regions that may become more accessible because of global warming, the Science Ministry says.
Free E-Book: The Oil Age is Over
Matt Savinar of the website www.lifeaftertheoilcrash.net has made his book, The Oil Age is Over available for free download between now and the US presidential elections.
‘Panic sets in’ as oil prices hit new high
Oil prices have climbed towards $52 on worries about supply problems in the Gulf of Mexico and low oil inventories.
African oil fields: Rewards and risks
West African oil holds great promise for companies in search of diverse sources. But it’s giving U.S. national security planners a new Gulf to worry about: the Gulf of Guinea.
