Present oil trouble not without a past
Carter was serious about energy alternatives and paid a significant price — and wise politicians have avoided the problem ever since.
Carter was serious about energy alternatives and paid a significant price — and wise politicians have avoided the problem ever since.
A US defence official says the US navy is planning an unusual task force deployment off the West African coast.
It now appears that world oil production, about 80 million barrels a day, will soon peak. In fact, conventional oil production has already peaked and is declining.
Syria continues to sell oil to U.S. companies and encourage U.S. investment in its energy sector, despite Washington’s unilateral sanctions, Oil Minister Ibrahim Haddad told Reuters.
Libya has cemented its return to the international mainstream by resuming its former role as a supplier of oil to the US.
Official figures published in Jakarta last month show Indonesia became a net importer of crude oil for the first time in February and March.
The Organization of the Petroleum Exporting
Countries agreed on Thursday to increase its production quotas by two million barrels a day, or 8.5 percent, effective July 1. Analysts said the problem with OPEC’s move was that it would not add
any new oil to the market.
The U.S. animosity toward the Islamic Republic of Iran became evident again when a top U.S. diplomat underlined Tuesday Washington’s opposition to a French-backed plan which, if realized, would see a pipeline built from Kazakhstan to Iran to export the massive oil reserves underneath the Caspian Sea.
Russia’s oil production will probably stay flat or even drop in 2005, a top Russian energy official said Friday.
Iraq’s new Oil Minister Thamer Ghadban welcomed yesterday the injection of $800 million from the US-led coalition to achieve his main goal of hiking production.
Peak oil on Democracy Now
Investors face a turbulent new era in which oil prices will soar and the economy will face a severe energy crisis according to Stephen Leeb.