Posted by Matt in June 4th, 2009 |
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Economy, Oil, Anxiety, Barrel Oil, Brazil, China, Decades, Dollar, Downturn, Economic News, Economists, Emerging Economies, Global Supply, India, Norm, Oil Price, Oil Prices, Seven Months
THE price of a barrel oil went past $68 during the day on Monday June 1st, the highest level in seven months. Although this remains less than half the peak of last July, prices are likely to remain above the norm of the past few decades, lifted with every bit of cheery economic news and [...]
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Posted by Matt in June 4th, 2009 |
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“Nothing was actually done by Congress to put an end to the problem of excessive speculation,” said Masters, referring to the jump in oil prices last year. “As a result, there is nothing to prevent another bubble in oil prices in 2009. In fact, signs of another possible bubble are already beginning to appear.”
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Posted by Matt in June 1st, 2009 |
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Africa, Oil, African Man, Audience, Blood Diamond, Cinema, Curse, Diamonds, Government Forces, Lagos Nigeria, Laughter, Leonardo Dicaprio, Leonardo Dicaprio Film, Oil Wealth, Old Man, Photos, Rebels, Sierra Leone, Surveys, Vicious Civil War, Violence
The story in photos behind the fight for Nigeria’s oil wealth.
During a scene in the Leonardo DiCaprio film “Blood Diamond,” an elderly African man surveys a village destroyed in Sierra Leone’s vicious civil war and laments the violence tearing his country apart as rebels and government forces fight for control over access to diamonds and [...]
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Posted by Matt in May 29th, 2009 |
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Oil, Boom And Bust, Bust Cycle, Commodities, Commodity, Emerging Markets, Extractive Industries, Global Recession, Inventories, Oil Boom, Oil Price, Outlook, Supercycle, World Economy
As soon as the world economy starts growing again, the theory runs, demand for oil will once again outstrip the industry’s ability to supply it. The seemingly ample cushion of inventories and spare capacity will quickly be exhausted, sending prices soaring. In other words, the global recession has only interrupted the “supercycle” of which many [...]
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Posted by Matt in May 15th, 2009 |
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The Russia-lobbied project could hamper European Union plans for a separate pipeline that would carry gas from the Caspian Sea westward and reduce EU energy dependence on Moscow.
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Posted by Matt in February 13th, 2009 |
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Oil, Andrew Evans, Biofuels, Chief Economist, Decline Rates, Discovery, Electrification, Gas Powered Cars, Iea, Natural Gas Powered Cars, New Technology, opec, peak oil, Policy Decisions, Recession, Short Memories, Tar Sands, Technology Demand, Usgs, Vulnerability, Youtube
Fatih Birol talks the talk on peak oil
In this 40 minute exclusive interview for the film “PetroApocalypse Now?” Andrew Evans interviewed Fatih Birol, Chief Economist of the IEA about reserves, the USGS, technology, demand and recession, solutions and peak oil.
The interview is in 5 clips at youtube:
http://uk.youtube.com/watch?v=bA_F5j97z7E - Reserves, discovery and new technology
http://uk.youtube.com/watch?v=BhXZzNaVLJw - Decline [...]
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Posted by Matt in December 30th, 2008 |
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Iran, Oil, Russia, Venezuela, Ambitions, Banana Republic, Dreams, Economic Problems, Global Recession, Hugo, Iran, Lumps, Mahmoud, opec, Opec Countries, Price Of Oil, Russia, Russian Leaders, Seeds, Venezuela, Vladimir, West Don, Wizards, World Domination
Russian leaders tell us that it is no banana republic, but notice that we DO need to be reminded of that fact or we might forget.
The article below lumps Russia together with Venezuela and Iran. I’m wondering if Russia has more in common with OPEC countries than the West?
Don’t gloat over the economic problems [...]
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Posted by Matt in November 13th, 2008 |
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Oil, Crunch, Decline Rates, Iea, International Energy Agency, New Oil, Oil Fields, Oil Production, Oil Supply, peak oil, Peak Year, Shortfall
Production at the world’s oil fields will decline faster in coming years, putting more pressure on future oil supplies, the International Energy Agency said on Wednesday.
As current fields fade with age and the industry moves offshore and into smaller fields, decline rates will accelerate, the agency found, and more investment will be required to make [...]
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Posted by Matt in October 22nd, 2008 |
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Iran, Oil, Russia, Venezuela, Checkbook, diplomacy, Face, Hegemony, Intimidation, Iran, Oil Money, Oil Prices, Price Of Oil, Rich Countries, Russia, United States, Venezuela, World Stage
As the price of oil roared to ever higher levels in recent years, the leaders of Venezuela, Iran and Russia muscled their way onto the world stage, using checkbook diplomacy and, on occasion, intimidation.
Now, plummeting oil prices are raising questions about whether the countries can sustain their spending — and their bids to [...]
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Posted by Matt in October 8th, 2008 |
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Iran, Oil, Crude Oil Output, Decline, Drop To Zero, Export Market, Financial Crisis, Global Export, Iranian Oil Exports, Johns Hopkins University, Oil Consumption, Oil Exporter, Oil Fields, Oil Income, Oil Product, Oil Production, Oil Products, Product Consumption, Rapid Growth, Researcher, Roger Stern, Spigot
Iran’s looming financial crisis
In 2006, Iran was the fifth largest oil exporter in the world. How is it possible that by the middle of the next decade its exports could fall to zero?
In a paper published in January 2007, Roger Stern, a researcher at Johns Hopkins University, predicted that Iranian oil exports would drop to [...]
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Posted by Matt in September 26th, 2008 |
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Europe, Oil, Russia, Agenda, Brussels, Business Source, Daily Telegraph, Friendship, Germany, kremlin, Level Business, Lukoil, moscow, Oil Flow, Pipeline, Poland, Russia, Russian Oil Companies, sanctions, summit
Reports have begun to circulate in Moscow that Russian oil companies are under orders from the Kremlin to prepare for a supply cut to Germany and Poland through the Druzhba (Friendship) pipeline. It is believed that executives from lead-producer LUKoil have been put on weekend alert.
“They have been told to be ready to cut off [...]
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Posted by Matt in July 27th, 2008 |
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Oil, Cantarell Field, Crude Oil, Gas Prices, Gulf Coast Refineries, Mexico, New Oil, Oil Enterprise, Oil Output, petroleum, Thirst, United States, Valero, Valero Energy
Drivers unlikely to see gas prices retreat to levels enjoyed for a generation
The two events, half a world apart, went largely unheralded.
Early this month, Valero Energy in Texas got the unwelcome news that Mexico would be cutting supplies to one of the company’s Gulf Coast refineries by up to 15 percent. Mexico’s state-owned oil enterprise [...]
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Posted by Matt in July 24th, 2008 |
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Oil, Russia, BP, Brave Face, Chief Executive, Dudley, E Mail, Legs, Rotten, Russia, St James, Tnk Bp
With its tail between its legs, Britain’s biggest company is being all but chased out of Russia. BP will try to put a brave face on the retreat of Bob Dudley, still nominally chief executive of TNK-BP, to the safety of St James’s Square. But it does not look good. When you wish to assert [...]
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Posted by Matt in July 22nd, 2008 |
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China, Oil, Breach, Chains, China Morning Post, China Post, Chinese Sovereignty, Exxon, Exxonmobil, Exxonmobil Corporation, Offshore Oil, Pact, Paracel, Petrovietnam, Skirmish, South China Morning, South China Morning Post, South China Sea, Spratly, Unnamed Sources, Vietnam
In yet another skirmish over oil rights in the South China Sea, China has fired a stern warning shot across the bow of ExxonMobil Corporation. China is miffed that Exxon is seeking to enter into a deal with PetroVietnam to explore for oil in waters surrounding the disputed Spratly and Paracel island chains.
China has warned [...]
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Posted by Matt in July 21st, 2008 |
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China, Energy, Middle East, Oil, China Wars, Chinese Strategy, Control, Energy Demands, Energy Resources, Governments, Great Leap, Imperialist, iranian, Lenin, Middle East Policy, Natural Resource, Oil Imports, Oil Producing Nations, Peter Navarro, Physical Control, Relationships, rivalry, Verge, West China, Zero Sum Game
As China’s energy demands grow at a rate much faster than any other country in the world, so too have its relationships with the oil-producing nations in the Middle East. With half its oil imports from the region, China’s Middle East policy is on the verge of a “great leap forward.” Chinese strategy for securing [...]
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Posted by Matt in July 17th, 2008 |
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Iran, Oil, Russia, Venezuela, Clout, Domestic Dissent, Governments, Hugo Chavez, inflation, Iran, Islamic Rulers, Oil Wealth, President Hugo Chavez, Risk, Russia, Venezuela
Some autocratic governments are challenging U.S. policies and silencing domestic dissent. But their increased spending raises the risk of inflation, which could erode popular support.
But some of the most obvious effects are in countries whose leaders are most hostile to the United States: Venezuela’s populist President Hugo Chavez, Iran’s stringent Islamic rulers and Russia’s growing [...]
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Posted by Matt in July 1st, 2008 |
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Oil, Venezuela, Central Government, Commercial Ties, Export Revenue, Gross Domestic Product, Hugo Chavez, International Profile, Medium Term Outlook, Oil Trading, Pdvsa, Political Stability, President Hugo Chavez, Proven Oil Reserves, Refined Petroleum Products, S Gross, State Oil Company, Term Shift, Venezuelan Oil, Venezuelan President Hugo, Venezuelan President Hugo Chavez, World Oil Prices
Venezuela’s proven oil reserves are among the top ten in the world. Oil generates about 80 percent of the country’s total export revenue, contributes about half of the central government’s income, and is responsible for about one-third of the country’s gross domestic product (GDP). Increases in world oil prices in recent years have allowed Venezuelan [...]
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Posted by Matt in July 1st, 2008 |
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Energy, Oil, Russia, 1990s, Eastern Europe, Economic Crunch, Oil Prices, Opposition, radar, Rapid Increase, Russia, Russians
The rapid increase in oil prices and the rise in metal and mineral demand worldwide have made the Russians overconfident. Their annual cash income in the last four years has grown fourfold. The economic crunch of the 1990s is behind them. Thus the Russians have become somewhat politically belligerent, visible in the opposition they have [...]
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Posted by Matt in June 29th, 2008 |
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Oil, Syria, China, Conflicts In The Middle East, Decision Making, Decline, Internal Decision, iraq, Military Interventions, Next Five Years, Nuclear Proliferation, Oil Producing Countries, Oil Wars, opec, Opec Production, Output Declines, Risk, Security Environment, Term Fluctuations, Trillion, World Oil Reserves, World Oil Supply
Growing competition for oil may escalate to something as hot and dangerous as nuclear proliferation
The geopolitical implications of this gathering crisis for world oil supply 2010-15 are immense. The risk of further military interventions and conflicts in the Middle East is clearly high. Total world oil reserves are estimated at 2.5-2.9 trillion barrels, of which [...]
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