Russia’s record oil output is slipping, and major tax cuts are on the way. But massive investment is needed.
After climbing for years, Russia’s output has begun to drop: It was down by 0.7 percent in April. The problem is so serious that the new Prime Minister, former President Vladimir Putin, has said the issue is [...]

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Why are oil prices soaring so high, and will they ever return to Earth? Fatih Birol, chief economist at the International Energy Agency in Paris, explains why peak oil is real, why biofuels are indispensable, and how China determines what you pay at the pump.
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Oil prices are soaring for three key reasons: the decline in the dollar, increase in demand from China, India and other countries, and finally decrease in supply due to underinvestment in oil fields and decrease in oil production.
The decrease in oil production from existing fields is primarily due to passing peak oil. As oil is [...]

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A leading global energy monitor fears there may not be enough oil to slake the world’s thirst — and is preparing a landmark forecast that could reverberate through the global economy even as major companies announce fuel-related cutbacks.
The International Energy Agency is studying depletion rates at about 400 oil fields in a first-of-its-kind study of [...]

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Why are we going to experience a geometric explosion (price doubling and redoubling) in oil prices?
1. Peak oil and declining production around the world. Plus you need to factor in oil producing countries’ local consumption. Rising local consumption in oil producing countries means they will stop exporting oil long before they run out.
a. You see [...]

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That the news is familiar makes it no less alarming: 1.1 billion people, about one-sixth of the world’s population, lack access to safe drinking water. Aquifers under Beijing, Delhi, Bangkok, and dozens of other rapidly growing urban areas are drying up. The rivers Ganges, Jordan, Nile, and Yangtze — all dwindle to a trickle for [...]

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Russian oil output in 2003 was increasing at such a swift pace even Saudi Arabia worried about upstart energy companies – including Yukos and Sibneft – then posting production gains of more than 20 per cent.
But from 2004 the Moscow government changed its tax regime and began to take over privately held assets, including Yukos, [...]

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In Russia, the problem is not so much a lack of oil but an investment drought. This has been caused by high taxes and hostile treatment of foreign and some domestic companies by a government reasserting control over its energy sector.
Russia will have to act quickly if it is to avoid a long-term decline in [...]

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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 [...]

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