IMF calls for alternative oil initiative
Financial globalisation has raised the risks of contagion, or the knock-on effects through which one country’s vulnerabilities can spread through the global economic system.
Oil
Halliburton faces probe by US regulators
US regulators had formalised an investigation of whether a joint venture including Halliburton, the world’s biggest oilfield contractor, violated anti-bribery legislation to win orders for work on a Nigerian gas plant, the company said at the weekend.
Asia seeks dialogue with Opec
Asian economies want talks with Opec as part of a strategy to improve regional energy security and combat rising oil demand and high prices, officials from the Asian Pacific Economic Cooperation (Apec) group said yesterday.
Security of oil tankers fuels worry
It is far from clear, experts say, whether the existing fleet can handle the new production that Saudi Arabia and others have promised in coming months.
BP may be forced to downgrade reserves
BP is preparing to downgrade up to 3 per cent of its oil reserves, according to investment bank Goldman Sachs.
CBS: Got Oil? (video)
Sharyn Alfonsi looks at reports that oil companies that claim to have growing reserves have not been able to match reserves with production. The companies may have been overstating supplies.
Wall Street Life: Take an oil price over $40 – then quadruple it
Simmons reckons that the correct price for oil so that demand is controlled while humankind comes up with another plan is $182 a barrel.
African Leaders Open $3.7B Oil Pipeline
Central African leaders officially opened the taps Saturday on one of the largest private investments in sub-Saharan Africa – a 663-mile, $3.7 billion pipeline snaking from Chad through virgin rain forests to the Atlantic.
Author: U.S. faces a reality check over oil
Gasoline at $2 a gallon may be just a pleasant memory in a few years as energy prices continue to surge, warns author Paul Roberts.
Raymond: Facing Some Of The Hard Truths About Energy
For a variety of reasons, we expect fossil fuels to provide about 80 percent of the energy used in 2020, and to increase — and I emphasize increase — in absolute magnitude by about 65 million oil equivalent barrels per day. Just how much is 65 million barrels per day? Well, it is close to eight times Saudi Arabia’s current crude oil production.
The debate over arctic oil drilling erupts again
WASHINGTON — Hoping to capitalize on public ire over record-high gasoline prices, advocates of opening the Arctic National Wildlife Refuge for oil exploration predict the House next week will authorize drilling there.
An Oil Enigma: Production Falls Even as Reserves Rise
Even as reserves have risen, ChevronTexaco’s annual output has fallen by almost 15 percent, and the declines have continued recently despite a company promise to increase production in 2002.
