Australia not facing up to reality of energy resources
Australia will have to import oil by the end of this decade as we move into a world where prices are inevitably going to be higher.
Oil
Oil market balanced on a knife’s edge in absence of Iraqi crude
The recent sabotage of Iraq’s oil pipelines has raised fresh concerns about production capacity and room for maneuver in case of a crisis amid firm global oil demand.
Fresh fears emerge of Euro-grab for UK oil
Concern that the European Commission could gain control of Britain’s North Sea oil resurfaced last night.
Cheap oil now, high costs later
IN THE short run, it is good news that the price of a barrel of crude oil has fallen below US$40 (S$69). In the long run, however, this is not good news. In fact, it may be terrible news.
Saudi oil targeted, experts say
Escalating sabotage against pipelines in Iraq is heightening fears that terrorists are planning a wholesale assault on energy targets throughout the region and are taking aim at the world’s largest oil supplier — Saudi Arabia.
Crude oil squeeze continues
The important point is this: Why is OPEC busy asking Russia and other non-cartel producers to boost their production if Saudi Arabia has everything under control?
Richard Heinberg on Dwindling Oil and 9/11
Richard Heinberg speaking to Lynn Gary on Unwelcome Guests SHOW #206 9 May 2004 Dwindling Oil and 9/11 – Part 4 of the International Inquiry on 911’s Unanswered Questions
Norway Oil Workers Begin Strike, Cutting Output
Norwegian oil workers are going on strike from today, cutting output from the world’s third- largest oil exporter, after two unions failed to reach a pension accord with employers.
US: Good news now, bad news later
We need both cheap money and cheap energy, in particular oil and its derivatives. The problem is that we can print our own money in any quantity the Fed deems sufficient to keep the economy humming along. But we can only provide 40 percent of the oil we must have from domestic sources.
Oil chief: my fears for planet
The head of one of the world’s biggest oil companies has admitted that the threat of climate change makes him “really very worried for the planet”.
Energy crisis this time could be much worse
Dan Rice has been following the energy sector since the 1979 oil crisis, when fears of gasoline shortages led to long lines at gas stations. But Rice, manager of State Street Research Global Resources fund, believes the USA faces a much more serious energy crunch this time.
OPEC Presses Non-OPEC for More Oil
OPEC said on Wednesday it will ask producers outside the cartel to raise output to help cool high prices, but got a quick reply from Russia saying it had no slack in its system to boost exports.
