Give Us More Oil Pleads Cheney

March 17, 2008By Andy RowellBlog Post

His boss may have tried it and failed but now its Dick Cheney, the US vice-president’s turn. He is expected to urge Saudi Arabia to increase oil production during his tour of the Middle East that begins today. Mr Bush spent two evenings with King Abdullah of Saudi Arabia during his January trip. But his … Read More

Ed Plays it Tough…

March 12, 2008By Andy RowellBlog Post

He’s gruff and tough, wears a cowboy hat and won’t be messed around. That’s the image of Alberta’s Premier Ed-the-Earth-Destroyer Stelmach. His message to the World Heavy Oil Conference was that Alberta won’t be pressured by the Canadian federal government into accepting “unreasonable” deadlines for reducing greenhouse gases. [Note: Vote for Ed now as the … Read More

Iraq Plans to Double Oil Output

March 7, 2008By Andy RowellBlog Post 1 Comment

Iraqi Oil Minister Hussein Sharistani said Iraq intends to almost double its oil production over the next two years per day from 2 million bpd to 4.5 million bpd within two years’. He said the goal will be reached thanks to tenders for contracts for technical support, and said he is optimistic about the results … Read More

Twelve Dollars a Year

November 1, 2007By Mark FloegelBlog Post

In the late winter of 2006, the citizens of Burlington, Vermont prepared to elect one of five candidates to a three-year term for an open mayor’s seat.  At one forum, a citizen stood up and asked, “Within the next mayoral term, it’s likely the price of oil will hit $90 a barrel and gas will … Read More

World Oil Output Struggling, Say Arab Experts

October 31, 2007By Andy RowellBlog Post

Leading figures from the Middle East oil industry have added their voices to those warning that the world is struggling to sustain rising oil production. “There is a real problem — that supply may not be possible to increase beyond a certain level, say around 100 million barrels,” Libya’s National Oil Corporation chairman Shokri Ghanem … Read More

Oil Output “Already Peaked”

October 22, 2007By Andy RowellBlog Post 1 Comment

World oil production peaked in 2006 and will fall by half as soon as 2030, according to a report which also warns that extreme shortages of fossil fuels will lead to wars and social breakdown The German-based Energy Watch Group’s report predicts that production will now fall by 7% a year.

Climate Change Will Disrupt US Oil Production

October 19, 2007By Andy RowellBlog Post

A new US government report has concluded that climate change may produce stronger hurricanes that could disrupt U.S. oil production in the Gulf of Mexico and damage ports and pipelines along the coast that move fuel supplies. The report from a team of climate change experts and scientists at seven Energy Department laboratories is the … Read More

Ecuador To Invest $180 Million in Petroecuador

August 8, 2007By Andy RowellBlog Post

Ecuador’s government is planning an additional investment of $180 million into the state-owned oil company Petroleos del Ecuador, or Petroecuador, to halt declining production levels, the Economy Minister Fausto Ortiz has said. Without this investment, Petroecuador’s oil production will likely fall to 50 million barrels this year, down from the expected 60 million forecasted by … Read More

Victims of Oil

July 26, 2007By Mark FloegelBlog Post

The shop around the corner raised the price of sandwiches by a quarter this week. Although the housing meltdown is raising concerns that it may take the whole American economy down with it, prices are going up and the reason is the cost of oil. Oil, and therefore gas, prices remain at near-record levels. A … Read More

US Government Charging Oil Companies Low Rates

June 4, 2007By Andy RowellBlog Post

A statement released June 1 by the US Government Accountability Office (the “investigative” arm of Congress), finds that “the US federal government receives one of the lowest government takes [from oil and gas development] in the world.” The testimony, delivered to Congress on May 1 but only publicly released last Friday, indicates that while there … Read More