Insight and inspiration in turbulent times.
Workers at an oil pumping station in southern Iraq said on Wednesday they have stopped operations to protest the government’s backing of the U.S. offensive against followers of rebel cleric Moqtada al-Sadr.
The Organization of Petroleum Exporting Countries (OPEC) has reached its maximum production capacity, Venezuelan Energy Minister Rafael Ramirez said
New York’s main oil contract shot above 45 dollars for the first time, whipped higher by an uprising in Iraq, a crisis at Russian oil titan Yukos and a tropical storm nearing oil platforms.
Hugo Chavez drives George Bush crazy. Maybe it’s jealousy: Unlike Mr. Bush, Chavez, in Venezuela, won his Presidency by a majority of the vote.
New Peak Oil related interviews on Global Public Media:
1) GPM Exclusive Audio Interview: Chris Skrebowski
2) Richard Heinberg on Financial Sense Newshour
3) Julian Darley with Paul Ehrlich on KPFA
Soaring oil prices have stirred a long-standing debate among experts about how much crude remains in the ground and how to manage the countdown to when the reserves run dry.
Richard Heinberg is more interested in how Americans respond to peak oil than the actual date. The implications are far more sweeping than simply paying another dollar a gallon at the pump.
Dr Baktiari is a chief adviser to the National Iranian Oil Company. He says world production of oil will peak by 2007 at 82 million barrels a day.
The west should be embarking on a serious rather than cosmetic attempt at energy conservation. Those who hold out the prospect of a glittering medium-term future for the global economy are perhaps not in full possession of the facts.
Oil discoveries provide resources to some low-income countries on a scale that dwarfs aid. Yet their effects have often been adverse.
Asia’s economies have been able to withstand this year’s surge in oil prices but the relentless climb is starting to take its toll and high growth rates are now in jeopardy, analysts said.
The work of Campbell and Laherrere demonstrates that a number of large producers have reached their peak in production while even the Middle East production will soon peak.
