High noon for oil and gas, twilight for suburbia?
‘It looks like 2007-2008 will be about the latest before world oil supplies get into trouble, and if Saudi Arabia gets into trouble before then, very likely we will move into decline before then.’
Oil
Chinese Premier Departs Without Energy Solution
Russia and China agreed to terms for Russia’s membership in the World Trade Organization during top-level talks in Moscow on Friday, but both sides left unanswered questions about whether Russia was ready to guarantee stable oil supplies and boost oil and gas deliveries in the future to its energy-hungry neighbor.
Oil Companies Zeroing In on Mauritania as New Sources Dwindle
Given the current supply climate, even a small nation can become important in helping provide new reserves of crude. Some of the world’s biggest oil companies have set their sights on Mauritania.
Book Excerpt: Powerdown: Options and Actions for a Port-Carbon World
We live in a time in which several “storms” are colliding: resource depletion, continued population growth, declining per-capita food production, global climate change and other signs of environmental degradation, unsustainable levels of US debt and a potential dollar collapse and international political instability. Powerdown, the path of cooperation, conserving and sharing, seems the most sane response.
Asian Stocks Fall on Record Oil Prices: Toyota, Airlines Drop
Asian stocks dropped on concern record oil prices will slow global economic growth and corporate profits. Exporters such as Toyota Motor Corp. and airlines including Cathay Pacific Airways Ltd. led declines.
Opec ‘is losing power to control oil prices’
The continuing surge in oil prices is proving Opec’s limited influence on the market despite the organisation committing to increasing its production ceiling, analysts said.
Oil prices are surging so oil traders are having the time of their lives, right?
Well, no. Oil’s startling price surge this year has actually driven many traders to the sidelines as wild intra-day swings magnified by powerful speculative funds confound traditional trading strategies, market sources say.
Airlines to lose up to US$4B this year due to oil price hikes
Industry will lose between $3 billion and $4 billion as soaring oil prices increase pressure.
India: higher oil imports, tax cuts and a strategic petroleum reserve
India’s crude oil imports jumped by 23.3 % in July this year on increased demand for oil products, a senior Petroleum Ministry official said.
Barreling Toward Disaster
George W. Bush, oilman that he is, has done everything in his power to help the energy industry. He’s trashed environmental regulations, given cushy tax breaks to oil companies, and gotten his Saudi pals to promise lower oil prices by the election. So why are oil prices higher than ever? None other than the Wall Street Journal is suggesting that “peak oil” may be upon us.
Indonesia: Tough decisions await Yudhoyono
The price of crude nearly doubled this year, but for Indonesians that meant nothing. A fuel subsidy scheme means the Government, not consumers, picks up the bill for the increased cost of petrol, diesel and kerosene used everywhere for cooking.
Bush Set to Open Oil Reserve Spigot
With oil near $50 a barrel, the Bush administration is set to allow oil refineries to borrow from the government’s emergency petroleum stockpile to make up for supplies disrupted by Hurricane Ivan, a congressional source briefed on the pending decision told Reuters last week.
