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Keyword: peakoil

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  • New Techniques Oil Companies are Using in Drilling for Oil

    11/26/2009 7:42:35 AM PST · by staffjam · 5 replies · 434+ views
    Oilprice.com ^ | 25/11/2009 | OilPrice.com
    Can New technology divert a potential Oil Crisis? We take a look at the latest technology and techniques being used by Oil Companies in the field of Oil Drilling. With our dwindling supply of fossil fuels, oil drillers are finding themselves in great demand and as their techniques become more sophisticated Oil Fields are lasting longer and producing more of the black stuff. I suppose the first order of business would be to mention the continual fine tuning and innovative advances that are taking place almost daily within the technology of “Three Dimensional Seismic Imaging. For those with their head...
  • Power To Spare (Palin vs. Biden on energy)

    11/05/2009 4:53:14 PM PST · by raptor22 · 3 replies · 702+ views
    Investor's Business Daily ^ | November 5, 2009 | IBD editorial staff
    Leadership: As Palin jousts with Biden on energy independence, the government reports that we lead the world in energy reserves. From oil to gas to coal, we are sitting on prosperity. So why are we importing anything? One of the interesting sidelights of the NY-23 race was an exchange on energy independence between Vice President Joe Biden and the former governor of energy-rich Alaska, Sarah Palin. Biden, who came in to campaign for Democrat Bill Owens, was reminded of the issue of energy. "The fact of the matter is that Sarah Palin thinks the answer to energy was 'Drill, baby,...
  • Foolishly Choosing Bears Over Barrels

    10/26/2009 5:25:31 PM PDT · by Kaslin · 3 replies · 826+ views
    IBD Editorials ^ | October 26, 2009 | INVESTORS BUSINESS DAILY Staff
    Ecology: The administration creates the mother of all protected habitats for a species whose numbers have increased since Al Gore's "An Inconvenient Truth." It's our hopes for energy independence that are drowning. When filmmaker Phelim McAleer, whose documentary "Not Evil Just Wrong" takes apart the myths of global warming, got to ask Gore a question at the annual conference of the Society of Environmental Journalists, McAleer brought up the nine critical errors in Gore's film "An Inconvenient Truth." A British court two years ago listed them and said they must be righted before the film could be shown in schools...
  • Energy forecaster turns peak oil theory on its head

    10/09/2009 2:02:07 PM PDT · by thackney · 7 replies · 660+ views
    Calgary Herald ^ | October 8, 2009 | Shaun Polczer
    James Burkhard, IHS CERA's global oil director, is a self-described "peakist." But it's not what you might think. Whereas most adherents to peak oil theory believe petroleum production has plateaued and will fall back down, driving up oil prices, Burkhard sees the situation somewhat in reverse, with global oil demand peaking and falling off as developed countries become more efficient with how they use oil and require relatively less of it. Not even the seemingly insatiable appetites of countries such as China and India can reverse the trend, he said in an interview Thursday. "The long-term rate of oil demand...
  • A California 'Black Gold' Rush

    09/29/2009 8:52:35 AM PDT · by raptor22 · 13 replies · 1,492+ views
    Real Clear Markets ^ | September 29, 2009 | IBD staff
    Energy: An amazing number of oil finds have been made this year, including the biggest in California in 35 years. If the world is running out of oil, why do we keep finding more of it? The mantra of the anti-drilling crowd has been that oil companies like to sit on their leases and the oil in the ground, hoping to drive up the price. They should use the leases they have or lose them, these critics say. They also like to add that the world is running out of oil so it doesn't matter anyway. Occidental Petroleum hasn't been...
  • A California 'Black Gold' Rush

    09/28/2009 4:48:14 PM PDT · by Kaslin · 22 replies · 2,207+ views
    IBD Editorials ^ | September 28, 2009 | INVESTORS BUSINESS DAILY Staff
    Energy: An amazing number of oil finds have been made this year, including the biggest in California in 35 years. If the world is running out of oil, why do we keep finding more of it? The mantra of the anti-drilling crowd has been that oil companies like to sit on their leases and the oil in the ground, hoping to drive up the price. They should use the leases they have or lose them, these critics say. They also like to add that the world is running out of oil so it doesn't matter anyway. Occidental Petroleum hasn't been...
  • Oxy oil discovery could spark new interest in California's energy potential

    09/24/2009 10:17:45 AM PDT · by Ernest_at_the_Beach · 22 replies · 1,116+ views
    Los Angeles Times ^ | September 24, 2009 | Ronald D. White
    The biggest find in the state in 35 years, somewhere in Kern County, could herald new exploration in California and the U.S., experts say. But some worry it could lead to a false sense of security.A few years ago, Occidental Petroleum Corp. executive Stephen I. Chazen sounded like a cryptologist out of a Dan Brown novel as he told investors that an oil bonanza awaited any outfit that could "crack the code" of California's seismically fractured underground. Occidental's engineers may have done it. The Westwood company revealed in July that it had found the equivalent of 150 million to 250...
  • Easier to find oil ( Abiogenic ? )

    09/11/2009 11:46:37 AM PDT · by Halfmanhalfamazing · 54 replies · 1,623+ views
    KTH Royal Institute of Technology ^ | September 9th | Peter Larsson
    Researchers at KTH have been able to prove that the fossils of animals and plants are not necessary to generate raw oil and natural gas. This result is extremely radical as it means that it will be much easier to find these energy sources and that they may be located all over the world. “With the help of our research we even know where oil could be found in Sweden!” says Vladimir Kutcherov, Professor at the KTH Department of Energy Technology in Stockholm. Together with two research colleagues, Professor Kutcherov has simulated the process of pressure and heat that occurs...
  • Forget 'Peak Oil' — Drill, BP, Drill

    09/03/2009 5:28:33 PM PDT · by Kaslin · 16 replies · 2,009+ views
    IBD Editorials ^ | September 3, 2009 | INVESTORS BUSINESS DAILY Staff
    Energy Policy: Ignoring peak-oil Cassandras, BP has made another giant oil find in the Gulf of Mexico. We're not running out of oil. Our government just doesn't want us to look for it.The world is running out of oil and good riddance. That's the environmentalists' mantra. But since the first well was drilled near Titusville, Pa., 150 years ago, the prophecy has gone unfulfilled. Trouble is, those darn greedy oil companies keep finding the stuff. Oil has been produced in the Gulf of Mexico since the first well was drilled by Kerr-McGee Corp. in 1947. Some of the wells are...
  • The Saudi Arabia Of Shale

    08/17/2009 6:14:56 PM PDT · by Kaslin · 47 replies · 4,070+ views
    IBD Editorials ^ | August 17, 2009 | INVESTORS BUSINESS DAILY Staff
    Energy Policy: New York's governor wants to tap into a shale formation that can supply the entire U.S. with natural gas for 65 years. Will NIMBY environmentalists let him stimulate New York's and America's energy economy?Last week, David Patterson released a draft report of his Energy Planning Board that does something Democrats are loath to do: It proposes developing a domestic energy resource — the huge amounts of natural gas trapped in the Marcellus Shale formation. New York produces 5% of its natural gas in-state and imports more than 95% from the Gulf Coast and Canada. The Marcellus Shale stretches...
  • Shifting Oil Sands

    09/01/2009 5:03:45 PM PDT · by Kaslin · 5 replies · 1,027+ views
    IBD Editorials ^ | September 1, 2009 | INVESTORS BUSINESS DAILY Staff
    Energy: We balk at importing "dirty" oil from Canada, but others aren't so reluctant. Exempt as a "developing" nation from Kyoto-like agreements, China has decided to help Canada develop its energy-rich oil sands.The Financial Post reports that PetroChina International Investment Co. has struck a deal to buy a 60% interest in Athabasca Oil Sands Corp.'s McKay River and Dover projects for $1.9 billion. China has been establishing energy beachheads around the world in its quest to keep its growing economy fueled. With possible conflict brewing between Israel and Iran, Beijing recognizes the need for reliable suppliers like Canada in an...
  • ‘Peak Oil’ Is a Waste of Energy

    08/30/2009 10:24:37 PM PDT · by neverdem · 29 replies · 849+ views
    NY Times ^ | 2009/08/25 | MICHAEL LYNCH
    REMEMBER “peak oil”? It’s the theory that geological scarcity will at some point make it impossible for global petroleum production to avoid falling, heralding the end of the oil age and, potentially, economic catastrophe. Well, just when we thought that the collapse in oil prices since last summer had put an end to such talk, along comes Fatih Birol, the top economist at the International Energy Agency, to insist that we’ll reach the peak moment in 10 years, a decade sooner than most previous predictions (although a few ardent pessimists believe the moment of no return has already come and...
  • Washington Capitulates: Peak Oil Is Real

    08/28/2009 9:17:30 AM PDT · by h20skier66 · 17 replies · 1,092+ views
    Commodity News Center ^ | 8/28/09 | Doug Hornig
    Each year, generally in May, the Energy Information Administration publishes a less-than-eagerly-anticipated tome called the International Energy Outlook, 250+ pages of mind-numbing text, charts, graphs, and tables. No one reads it. The mainstream media ignore it. It's the product of the best prognosticators in the Department of Energy. Okay, that may be what puts most people off. But if you're patient enough to dig into it, it will cough up some fascinating nuggets of information. The present edition is no exception. The report refrains from spelling out the conclusion that seems most obvious from its data. However, confirming a trend...
  • Finally, someone with a fully functioning brain comments on Peak

    08/07/2009 8:35:05 AM PDT · by sdw2009 · 2 replies · 322+ views
    I have to be bullish on energy, notwithstanding the fact that the Greater Depression will curtail a lot of energy use. In thinking about this, the obvious place to start is oil...
  • Peak Gov't, Not Oil

    08/04/2009 5:39:27 PM PDT · by Kaslin · 5 replies · 1,103+ views
    IBD Editorials ^ | August 3, 2009 | INVESTORS BUSINESS DAILY Staff
    Energy Policy: The chief economist of the International Energy Agency says the world is running out of oil. We've been told that for the last 150 years. The only thing we're running out of is the will to drill.Ever since the first oil well was drilled in Titusville, Pa., in 1859, experts have been predicting we would soon run out of oil. The latest is Dr. Fatih Birol, chief economist for the International Energy Agency in Paris, whose job it is to assess future energy supplies by OECD countries. In an interview with the Independent, Dr. Birol says that based...
  • The Next Oil Shock

    05/31/2009 7:52:56 AM PDT · by WhiteCastle · 11 replies · 1,357+ views
    Investor's Business Daily ^ | May 22, 2009 | Editorial
    A top expert tells Congress that oil will be around for a long time and high inventories and low prices are no excuse not to find more. Oil shock? How about a no-oil shock? Be careful what you wish for, goes the old proverb. Well, as we all had hoped, energy prices have fallen — but only as part of the global decline in economic activity. This has been used as an excuse to further discourage exploration for and development of domestic oil resources. But if the economy does recover, that policy could provoke another recession.
  • Huge Natural Gas Strike Found in Louisiana, Equivalent of 33 Billion Barrels of Oil

    05/20/2009 8:17:41 AM PDT · by Titus-Maximus · 79 replies · 2,968+ views
    Wall Street Journal ^ | April 30, 2009 | Ben Casselman
    U.S. Gas Fields Go From Bust to Boom CADDO PARISH, La. -- A massive natural-gas discovery here in northern Louisiana heralds a big shift in the nation's energy landscape. After an era of declining production, the U.S. is now swimming in natural gas. Even conservative estimates suggest the Louisiana discovery -- known as the Haynesville Shale, for the dense rock formation that contains the gas -- could hold some 200 trillion cubic feet of natural gas. That's the equivalent of 33 billion barrels of oil, or 18 years' worth of current U.S. oil production. Some industry executives think the field...
  • The Bottom

    05/04/2009 9:09:10 PM PDT · by B-Chan · 6 replies · 1,054+ views
    kunstler.com ^ | 2009.05.04 | James H. Kunstler
    Euphoria managed to out-run swine flu last week as the epidemic-du-jour, with "consumer" confidence jumping and the big bank stocks nudging up. The H1N1 virus fizzled for now, at least in terms of kill ratio, though we're warned it might boomerang in the fall with a vengeance. No one was surprised to see Chrysler roll over like a possum on a county highway, but the memory of their muscle cars will linger on like a California surfing song. Here in the northeast, where Sundays are not spent at the Nascar oval, the spring foliage reached the tenderly explosive stage and...
  • The Energy & Climate Catastrophe

    11/30/2008 11:06:43 AM PST · by dmathew1 · 51 replies · 771+ views
    Hello Everyone, The oil industry is beginning to warn the public regarding the threats of oil depletion, resource depletion, climate change and the credit crisis' impact upon future oil production. There is a video one hour 27 minutes in length, which I recommend that you watch, along with the following pdf file of the presentation: http://www.csis.org/media/csis/events/081124_weo_2008_birol.pdf I encourage everything to take this information seriously because it concerns events occurring in our lifetime.
  • Former Aramco Exec Sees Plentiful Oil Reserves

    11/23/2008 10:18:46 AM PST · by St. Louis Conservative · 34 replies · 665+ views
    Reuters ^ | November 3, 2008 | Luke Pachymuthu
    ABU DHABI (Reuters) - Global oil reserves are plentiful and will last for many years to come, said Nansen Saleri, who until last year oversaw the world's largest reserves in top exporter Saudi Arabia. Some industry observers have argued that oil supplies were at, or near, their peak and have questioned whether big producers were sitting on as much oil as they claim. But Saleri, who headed reserve management at state oil giant Saudi Aramco from 1998-2007, told Reuters in an interview on Monday that the bigger challenge for the industry was not a shortage of reserves but increasing recovery...
  • World will struggle to meet oil demand

    11/01/2008 10:33:43 AM PDT · by fontoon · 13 replies · 491+ views
    FT.com ^ | October 29 2008 | Carola Hoyos and Javier Blas
    World will struggle to meet oil demand By Carola Hoyos and Javier Blas Published: October 29 2008 02:00 | Last updated: October 29 2008 02:00 Output from the world's oilfields is declining faster than previously thought, the first authoritative public study of the biggest fields shows. Without extra investment to raise production, the natural annual rate of output decline is 9.1 per cent, the International Energy Agency says in its annual report, the World Energy Outlook, a draft of which has been obtained by the Financial Times. The findings suggest the world will struggle to produce enough oil to make...
  • Here comes $500 oil

    09/22/2008 4:51:46 PM PDT · by Lorianne · 34 replies · 209+ views
    CNN Money ^ | 22 September 2008 | Brian O'Keefe
    ... It was on this same porch five years ago that Simmons had the insight that convinced him that the oil age had passed its zenith. During a trip to Saudi Arabia in February 2003 with his friend Herbert Hunt (yes, the son of H.L. Hunt who, with his brother Bunker, almost cornered the silver market in 1980), Simmons had become suspicious of the Saudis' claims about the vastness of their oil supply. In his four decades of working in the oil and gas industry, everyone he had ever talked to had taken it as gospel that the Saudis had...
  • Whack a Mole (Fed bailout post)

    09/22/2008 1:19:47 PM PDT · by Publius804 · 3 replies · 74+ views
    patrickdeneen.blogspot.com ^ | September 22, 2008 | Patrick Deneen
    Monday, September 22, 2008 Whack a Mole The Fed and Treasury's massive and unprecedented bailout of the financial industry has given momentary respite to the American economic system, but the assumption of over a trillion dollars in new public debt has now raised the specter of national insolvency and runaway inflation. The economy is still in decline and the only way that the government will "pay" for these bad loans is by printing money. Accordingly, the price of gold has jumped in the past week from the mid-$700's per ounce to $910, including a $45 per ounce jump today alone....
  • Last Ditch

    09/09/2008 8:59:38 AM PDT · by B-Chan · 5 replies · 181+ views
    kunstler.com ^ | September 8, 2008 | James H. Kunstler
    Why do the big deals always happen over the weekends? So the big boyz in government and finance can take off their neckties when they bargain with each other? So the markets will be closed and unable to register a response one way or another? So the shrinking fraction of the US public that pays attention to anything besides Nascar and pornography won't catch the news Saturday evening? This weekend's big deal was the US government taking over the "government sponsored enterprises" (GSEs) Fannie Mae and Freddie Mac that guarantee trillions of dollars in mortgages. The "guarantee" is supposedly accomplished...
  • Has Oil Reached Its Peak?

    09/03/2008 3:35:40 PM PDT · by Delacon · 31 replies · 128+ views
    Rising oil prices in recent years have again raised the question whether worldwide oil production has reached a peak. Various analysts have suggested that the rapid run up in prices indicates that if oil hasn’t yet reached its peak of production, it will do so very soon.At the same time, though, the world keeps discovering new reserves as higher prices provide incentives to bring more oil onto the market. As the above table demonstrates, the world’s oil reserves have steadily increased in the face of rising consumption.The Energy Information Administration has reported that “the world production peak for conventionally reservoired...
  • Drilling Boom Revives Hopes for Natural Gas (No Peak Oil???)

    08/24/2008 6:46:17 PM PDT · by GOPGuide · 32 replies · 336+ views
    NYTimes ^ | August 24, 2008 | CLIFFORD KRAUSS
    HOUSTON — American natural gas production is rising at a clip not seen in half a century, pushing down prices of the fuel and reversing conventional wisdom that domestic gas fields were in irreversible decline. The new drilling boom uses advanced technology to release gas trapped in huge shale beds found throughout North America — gas long believed to be out of reach. Natural gas is the cleanest fossil fuel, releasing less of the emissions that cause global warming than coal or oil. Rising production of natural gas has significant long-range implications for American consumers and businesses. A sustained increase...
  • As Oil Giants Lose Influence, Supply Drops

    08/19/2008 6:48:55 PM PDT · by Lorianne · 8 replies · 182+ views
    New York Times ^ | August 18, 2008 | JAD MOUAWAD
    Oil production has begun falling at all of the major Western oil companies, and they are finding it harder than ever to find new prospects even though they are awash in profits and eager to expand. Part of the reason is political. From the Caspian Sea to South America, Western oil companies are being squeezed out of resource-rich provinces. They are being forced to renegotiate contracts on less-favorable terms and are fighting losing battles with assertive state-owned oil companies. And much of their production is in mature regions that are declining, like the North Sea. The reality, experts say, is...
  • The US Offshore Drilling Argument: The Debate Between "Starting Now" and "Waiting a While"

    07/15/2008 12:06:24 AM PDT · by newbie2008 · 23 replies · 156+ views
    How much do we really have? According to API (Transcript 23:17), we really don't know how much recoverable oil is available. There are some published estimates for various pieces--coastal oil, OCS-48 states oil, Alaska-offshore, Alaska-ANWR--but none of these is very big. At this point, we haven't done any on-site research to see what is really there, using today's equipment. We don't know if there are some fairly good sized fields that we have overlooked. It is possible that the estimates are too high, but without looking, we really don't know. Better use of existing pipeline systems We have pipeline systems...
  • The great oil swindle, how much did the fed really know?

    The Commodity Futures and Trading Commission (CFTC) is investigating trading in oil futures to determine whether the surge in prices to record levels is the result of manipulation or fraud. They might want to take a look at wheat, rice and corn futures while they’re at it. The whole thing is a hoax cooked up by the investment banks and hedge funds who are trying to dig their way out of the trillion dollar mortgage-backed securities (MBS) mess that they created by turning garbage loans into securities.
  • Are We in the Peak of an Oil Bubble?

    07/08/2008 8:02:02 PM PDT · by stylin_geek · 31 replies · 110+ views
    Phys Org ^ | July 07, 2008 | Lisa Zyga
    Since 2003, worldwide oil prices have quadrupled. According to a new study, the price of oil is rising at a faster-than-exponential rate, and cannot be sustained. In other words, we’re in the midst of an oil bubble, say researchers Didier Sornette and Ryan Woodard of ETH Zurich in Switzerland and Wei-Xing Zhou of the East China University of Science and Technology in Shanghai, China. By analyzing oil prices over the past four years, the researchers have demonstrated more support for the hypothesis that the recent oil price run-up has less to do with supply-demand interplay and more to do with...
  • Hitchhiker's guide to gas prices: Don't panic!

    07/06/2008 2:49:22 AM PDT · by Kaslin · 103 replies · 204+ views
    Townhall.com ^ | July 6, 2008 | Paul Jacob
    Gas prices will never go down.” “The price at the pump can only go higher.” “High prices are here to stay.” This seems to be the current wisdom. I hear it everywhere. There’s no need for a specific citation, for you’ve heard it too. But why should we believe it? Gas prices have gone down in the past. Why not again? Two words: Peak Oil.Or make that three: Peak Oil blather. In a Wikipedia article on gas prices, we are told that “there are now very few parties who do not acknowledge that the concept of a production peak is...
  • The 'Peak Oil' Myth: New Oil Is Plentiful

    06/22/2008 11:43:06 AM PDT · by shrinkermd · 74 replies · 290+ views
    Seeking Alpha ^ | 22 June 2008 | Jason Schwarz
    The data is becoming conclusive that peak oil is a myth. High oil prices (USO) (OIL) are doing their job as oil exploration is flush with new finds: 1. An offshore find by Brazilian state oil company Petrobras (PBR) in partnership with BG Group (BRGYY.PK) and Repsol-YPF may be the world's biggest discovery in 30 years 2. A trio of oil companies led by Chevron Corp. (CVX) has tapped a petroleum pool deep beneath the Gulf of Mexico that could boost U.S. reserves by more than 50 percent.. 3.West Cape Three Points is the largest discovery in deep water West...
  • Why Saudi Arabia's King Wants to Dampen Oil Prices

    06/21/2008 9:39:31 PM PDT · by TigerLikesRooster · 57 replies · 290+ views
    Der Spiegel ^ | 06/1708 | Bernhard Zand
    Why Saudi Arabia's King Wants to Dampen Oil Prices By Bernhard Zand Consumers aren't the only ones being hit by high oil prices. Now that the oil shock has reached producing countries, Saudi Arabia has called a crisis summit this weekend in an effort to find concerted solutions that could push barrel prices down. Others would be overjoyed to be earning a $1 billion a day, and to have good reason to expect that number to climb to $2 billion a day next year. But Abdullah bin Abdulaziz al-Saud seems less than thrilled these days, and the newly tense atmosphere...
  • Do High Petroleum Prices Mean We've Reached 'Peak Oil'?

    06/20/2008 2:23:09 PM PDT · by Blood of Tyrants · 32 replies · 166+ views
    FoxNews ^ | 6/20/08 | Jasmin Malik Chua
    With the cost of crude oil surging to record highs, a heated battle of blame is in full swing, with a lineup of suspects that includes the oil industry, Congress, commodity speculators, environmentalists and developing countries in Asia. Meanwhile, predictions that we've reached a peak in oil production or will very soon — dismissed only a few years ago as being alarmist and without merit — are receiving more serious consideration. The problem is, nobody really knows how much oil is down there. The only thing that's certain: Dead organisms produced a limited amount of oil long ago, and eventually...
  • World oil demand is surging as supplies approach their limits.

    06/19/2008 12:17:46 PM PDT · by Whitebread · 25 replies · 96+ views
    National Geographic Magazine ^ | July 2008 Issue | Paul Roberts
    In 2000 a Saudi oil geologist named Sadad I. Al Husseini made a startling discovery. Husseini, then head of exploration and production for the state-owned oil company, Saudi Aramco, had long been skeptical of the oil industry's upbeat forecasts for future production. Since the mid-1990s he had been studying data from the 250 or so major oil fields that produce most of the world's oil. He looked at how much crude remained in each one and how rapidly it was being depleted, then added all the new fields that oil companies hoped to bring on line in coming decades. When...
  • Saudi Oil Exec: Crude Reserves Figures Bunk

    06/05/2008 11:11:38 AM PDT · by Tolerance Sucks Rocks · 29 replies · 203+ views
    MoneyNews.com ^ | May 29, 2008 | MoneyNews
    Junk your SUV and buy an electric scooter. Recent claims by various OPEC leaders that the world has plenty of oil left are bunk, alleges Sadad Al-Husseini, a former top executive at Saudi Aramco, Saudi Arabia’s state-owned oil company. Oil-producing countries are inflating the size of their oil reserves by as much as 300 billion barrels by padding supposedly proven reserves with “probable” reserves and tar and oil sands, according to Husseini. Such hypothetical reserves are “not delineated, not accessible and not available for production,” Husseini said at a recent energy conference in London. Oil production has now reached its...
  • Peak Oil: An Idea Whose Time Is Up

    05/28/2008 5:10:23 PM PDT · by Kaslin · 55 replies · 657+ views
    IBD ^ | May 28, 2008
    Energy: Analysts have found that investors spooked by the peak oil theory — the belief that crude production has topped out and is in decline — are partly behind the soaring oil prices. Someone should set them straight.Blame part of $135-a-barrel oil on the increased demand in China and India, where the populations and economies are growing rapidly. But the impact of those nations on crude prices in recent months is suspect. Global oil consumption grew 2% in the first quarter of this year over the first quarter of 2007, while production increased 2.5% over the same period. On a...
  • Energy fears looming, new survivalists prepare

    05/24/2008 11:30:31 AM PDT · by decimon · 105 replies · 191+ views
    Associated Press ^ | May 24, 2008 | Samantha Gross
    BUSKIRK — A few years ago, Kathleen Breault was just another suburban grandma, driving countless hours every week, stopping for lunch at McDonald's, buying clothes at the mall, watching TV in the evenings. That was before Breault heard an author talk about the bleak future of the world's oil supply. Now, she's preparing for the world as we know it to disappear. Breault cut her driving time in half. She switched to a diet of locally grown foods near her upstate New York home and lost 70 pounds. She sliced up her credit cards, banished her television and swore...
  • ENERGY EXPERT: $12 A GALLON FOR GAS IS 'INEVITABLE'

    ------------------------------------------------------ Robert Hirsch, an energy advisor, says CNBC morning show prediction was a citation of the 'Dean of Oil Analysts.' By Jeff Poor Business & Media Institute 5/21/2008 3:38:13 PM It may be the mother of all doom and gloom gas price predictions: $12 for a gallon of gas is “inevitable.” Robert Hirsch, Management Information Services Senior Energy Advisor, gave a dire warning about the potential future of gas prices on CNBC’s May 20 “Squawk Box”. He told host Becky Quick there was no single thing that would solve the problem, due to the enormity of the problem. “[T]he prices...
  • Search for black gold is sweeping the country

    05/17/2008 8:01:09 AM PDT · by kingattax · 9 replies · 52+ views
    Times Online ^ | May 17, 2008 | Valerie Elliott
    More than 200 communities in the English countryside may be sitting on billions of pounds of undiscovered oil, according to prospectors. Scores of greenfield sites across southern and eastern England are being mapped for viability as world oil prices soar. The Government has received 60 applications from 54 companies to explore 182 plots, but is keeping the details confidential because they are commercially sensitive. Villages, hamlets or new estates will learn about a prospector’s interest only if permission is sought to drill or extract oil. The Times has learnt that rural locations from the South Downs to the Lincolnshire Wolds...
  • All Is Not Lost, The Future of Oil

    04/26/2008 11:46:11 AM PDT · by PurpleMountains · 6 replies · 93+ views
    From Sea to Shining Sea ^ | 4/26/08 | Purple Mountains
    Periodically people take a look at the plateauing of oil reserve discoveries and oil production and compare that to the rapid increases in demand – particularly as China and India become more industrialized. They then declare that “peak” oil supplies have been reached, and the world will soon be plunged into a struggle for the remaining supplies. I made this mistake a couple of years ago, when I also concluded that the “peak” was upon us. Now, we all know that something weird is going on in oil markets as the price of oil and gasoline is advancing in large...
  • Peak oil's a chimera. Dumb policies are the real problem

    04/25/2008 2:34:54 PM PDT · by tatown · 29 replies · 72+ views
    Vancouver Sun ^ | April 25, 2008 | Harvey Enchin
    Fossil fuels are finite by definition. Eventually, since a growing global population will consume more energy, we'll run out of oil. Some time after the world's oil reserves are depleted, what little food hasn't been contaminated with Bisphenol A will be gone. Climate change will have rendered the earth uninhabitable, and WE'RE ALL GONNA DIE! The environmental movement has become a death cult seduced by the fantasy of the coming Apocalypse. That's why prophets of doom like Al Gore draw audiences and win awards for their specious exhortations, and those who doubt the thesis are excommunicated. Peak oil proponents have...
  • National news media burying amazing oil breakthrough?

    04/17/2008 3:24:07 AM PDT · by Man50D · 30 replies · 126+ views
    WorldNetDaily.com ^ | April 16, 2008 | Joe Kovacs
    It could potentially be one of the biggest energy breakthroughs in history – genetically manipulating bacteria to quickly convert anything that grows out of the Earth into oil. But the biggest names in the national media have thus far not provided any coverage of this possible solution to skyrocketing gas prices and Ameria's long-term energy security. A WND story last month introduced to the nation a new technique where altered bacteria "rapidly digest" everything from grass clippings and wood chips, turning them into hydrocarbons for fuels such as gasoline and diesel. If done on a large scale, it could provide...
  • Fears emerge over Russia’s oil output (Russian oil production peaked)

    04/14/2008 4:35:26 PM PDT · by TigerLikesRooster · 1 replies · 120+ views
    FT ^ | 04/14/08 | Carola Hoyos and Javier Blas
    Fears emerge over Russia’s oil output By Carola Hoyos and Javier Blas in London Published: April 14 2008 22:10 | Last updated: April 14 2008 22:10 Russian oil production has peaked and may never return to current levels, one of the country’s top energy executives has warned, fuelling concerns that the world’s biggest oil producers cannot keep up with rampant Asian demand. The warning comes as crude oil prices are trading near their record high of $112 a barrel, stoking inflation in many countries. Leonid Fedun, the 52-year-old vice-president of Lukoil, Russia’s largest independent oil company, told the Financial Times...
  • The 'Peak Oil' Theory: Will Oil Reserves Run Dry?

    03/21/2008 10:01:57 AM PDT · by rightinthemiddle · 79 replies · 1,568+ views
    CNBC (Communist Business News) ^ | 3-20-08 | Kenneth Stier
    Oil's recent slide and the slackening demand that an economic slowdown's expected to bring have stimulated hopes that crude could soon safely stabilize below the $100 range. But beneath seesawing supply and demand lies the deeper question of just how much oil the planet has in the first place — and how much it will have in the future. The answer to that question supports — or undermines — the theory that we are in the midst of an ever-tightening supply that will lock prices into a permanent, rising arc. That, in nutshell, is what's meant by the term "peak...
  • Now guess who says there's plenty of oil!

    03/21/2008 9:55:51 AM PDT · by kellynla · 46 replies · 1,707+ views
    worldnetdaily.com ^ | March 20, 2008 | Jerome R. Corsi
    John Hofmeister, the Houston-based president of Shell Oil's U.S. operations, expressed doubt about the validity of peak oil theory in an appearance on CNBC's Squawk Box show. "The peak oil theory has really swamped the world. God bless Matt Simmons," Hofmeister told CNBC anchor Carl Quintanilla, according to a transcript provided to WND by CNBC. "His assumptions are correct based on his hypotheses, but his hypotheses are too narrow." Matt Simmons, a Houston-based investment banker who specializes in the energy industry, is widely known for his 2005 book, "Twilight in the Desert: The Coming Saudi Oil Shock and the World...
  • Peak Oil, Carrying Capacity and Overshoot: Population, the Elephant in the Room

    02/24/2008 1:41:05 PM PST · by ScratInTheHat · 80 replies · 319+ views
    Paul Chefurka ^ | 2007 | Paul Chefurka
    As we all know but are sometimes reluctant to contemplate, oil is a finite, non-renewable resource. This automatically means that its use is not sustainable. If the use of oil is not sustainable, then of course the added carrying capacity the oil has provided is likewise unsustainable. Carrying capacity has been added to the world in direct proportion to the use of oil, and the disturbing implication is that if our oil supply declines, the carrying capacity of the world will automatically fall with it. These two observations (that oil has expanded the world's carrying capacity and oil use is...
  • Titan Has More Oil Than Earth

    02/14/2008 9:35:37 AM PST · by Magnum44 · 25 replies · 214+ views
    Space.com ^ | 13 February 2008 | Staff
    Saturn's smoggy moon Titan has hundreds of times more natural gas and other liquid hydrocarbons than all the known oil and natural gas reserves on Earth, scientists said today....
  • Deep-ocean vents are a source of oil and gas (evidence of abiogenic hydrocarbons)

    01/31/2008 9:42:53 PM PST · by neverdem · 40 replies · 1,338+ views
    Nature News ^ | 31 January 2008 | Rachel Courtland
    Hydrocarbons bubble up from the mid-Atlantic's Lost City. Deep-sea vents could offer a non-biological source of oil and gas.D. KELLEY & M. ELEND, UNIV. WASHINGTON INST. FOR EXPLORATION/URI-IAO/NOAA/THE LOST CITY SCIENCE TEAM Undersea thermal vents can yield unexpected bounty: natural gas and the building blocks of oil products. In a new analysis of Lost City, a hydrothermal field in the mid-Atlantic, researchers have found that these organic molecules are being created through inorganic processes, rather than the more typical decomposition of once-living material. Most of the planet's oil and natural gas deposits were created when decomposing biological matter is 'cooked'...
  • In a World Short Of Oil, Provisions Must Be Made

    01/27/2008 12:41:59 PM PST · by Momaw Nadon · 23 replies · 789+ views
    WSJ Online ^ | Saturday, January 26, 2008 | NEIL KING JR.
    MIDDLEVILLE, Mich. -- It was around midnight one evening in November when Aaron Wissner shot up in bed, jolted awake by a fear: He wasn't fully ready for the day when the world starts running low on oil. Yes, he had tripled the size of the garden in front of the tidy white-clapboard house he shares with his wife and infant son. He had stacked bags of rice in his new pantry, stashed gold valued at $8,000 in his safe-deposit box and doubled the size of the propane tank in his yard. "But I felt panicky, like I needed more...