Saudi attacks upset oil nerves
Terrorist attacks in Saudi Arabia yesterday prompted fresh oil price jitters before this week’s crucial meeting of OPEC oil producers aimed at increasing production.
Oil
Russia promises to increase oil exports, questions remain
Russian Finance Minister Alexei Kudrin promised to boost oil exports if world prices remain high. The promise comes just days after reports that Russia does not have the infrastructure to increase production.
North Sea: Oil reserves ‘may stay untapped’
An independent oil company says that more than ten billion barrels of North Sea oil could remain untapped.
Relationship of oil, stocks leads to ugly truths
One message is very clear: When oil prices rise, stock prices tend to fall. When oil prices sink, stock prices tend to rise.
Bush was sure that Iraq’s oil reserves would be flowing again by now … Another big mistake
IN July 2002, the Pentagon’s Defence Policy Board was given a briefing by Laurent Murawiec of the Rand Institute. The advisory group of intellectuals and government officials heard Saudi Arabia described as the enemy of the United States. The Saudis were the “kernel of evil, the prime mover, the most dangerous opponent”.
Terrorism concern spurs oil price rise
Al-Qaeda-linked militants killed at least nine Saudis and seven foreigners in a string of attacks in an oil-industry city Saturday, then took hostages and fled with security forces in hot pursuit.
Oil
It powers the world’s economies … but unrest in Saudi is fuelling fears it could also destroy them
Maybe it’s time to panic about gas
Breaking the $2-a-gallon gasoline price barrier was unpleasant, and your lightened wallet may be eliciting visions of Nixon-era rationing and fill-up lines beyond the horizon, but geologists and economists think the industry and the economy will be just fine. Gas is cheap, they say, when you consider the rising costs of everything else. But another consensus has emerged among the experts: This might be a good time to panic anyway.
The Peak Oil Bandwagon – Museletter 146
Richard Heinberg on peak oil’s rising recognition in the public sphere, Saudi Arabian reserves, the Shell/Royal Dutch shock, the petroleum plateau, the war on Iraq, 9/11 complicity, and U.S. party politics.
Paris Peak Oil Conference Reveals Deepening Crisis (excerpt)
Research presented on May 26th and 27th at the French Institute for Petroleum (IFP) by a wide variety of experts from varying and often competitive perspectives disclosed that, in the year since the first conference of the Association for the Study of Peak Oil (ASPO) supply, constraints have worsened and the realities of energy depletion are becoming more apparent.
OPEC Meeting May Increase Quotas for Oil
Scrambling to control high oil prices, the Organization of the Petroleum Exporting Countries will meet this weekend in Beirut before its official conference there next week and may pursue a plan to raise quotas sharply or do away with them entirely, an OPEC spokesman said yesterday.
Indonesian Oil News Round Up
Indonesia is a net oil importer, and as such, should leave OPEC, says its former energy minister. Meanwhile, the high oil prices are have a damaging effect on the nation’s economy.
