Peak Oil News

 

  Login or Register

 
Menu
 News
 Search
 Topics
 Stories Archive
 Submit News
 Google po.com
 Discussions
 Code of Conduct
 Forums
 Peak Blog
 Resources
 About Us
 Downloads
 Web Links
 PeakWiki
 PeakPortal
 Ultimate Peak Search
 Peak TV
 Members
 Your Account
 Members List
 Ignore List
 JOIN!
 Private Messages
 
Sponsors
Forex Reviews
User Comments

Training
Managed Accounts
Forex Broker
 
Member Quotes
I'm just saying that you shouldn't test an anti-gravity device by jumping off the top of a building.

BigTex

Suggest Quote

 
PeakSpeak
NICKNAME

Download TeamSpeak
What is PeakSpeak?
Peak Oil on IRC
 
Photo Album
Submit Photo
Peakoil.com is You!


member photos
 
PO Email!
 
a community peak oil portal


The midpoint of global
hydrocarbon production

read more


Petroleum : A Historical Review
Public Policy; Political and Legal NewsThe effect that rising oil prices have on a market is not directly proportional to the cost of crude oil. For example, while crude oil prices increased 400% from 2003-2008, United States gasoline prices did not rise by the same amount. This is because the profits of distributors and retailers, production costs (such as refining, transportation), and taxes are all part of the price of auto fuel. There is debate over the effect the current long term elevation of oil prices will have. Some speculate that an oil-price spike could create a recession comparable to those that followed the 1973 and 1979 energy crises or a potentially worse situation such as a global oil crash.
Posted by stu on Sunday, May 11 @ 23:11:34 EDT (169 reads)
(Read More... | 762 bytes more | comments? | Score: 0)
Venezuela's Chavez to buy Chinese K-8 planes
Public Policy; Political and Legal NewsVenezuelan President Hugo Chavez said on Sunday the OPEC nation will buy Chinese military training planes, expanding recent arms purchases and further cementing a growing relationship with China. Chavez in recent years has stepped up purchases of weapons and planes. Washington accuses the self-styled revolutionary of carrying out an arms spending spree that could destabilize the region. Venezuela and China on Friday signed an accord to build a refinery on Chinese soil as part of a broader plan to reduce Venezuela's reliance on U.S. energy markets.
Posted by stu on Sunday, May 11 @ 23:08:30 EDT (85 reads)
(Read More... | 647 bytes more | comments? | Score: 0)
Oil Shock 2?
Consumption; Demand; PricesTwo years ago a leading economist published a study provocatively titled: "What would $120 oil mean for the global economy?" Answer: a global recession, if the price stayed there for a year. Now the future has arrived, with the United States and other nations getting a double whammy from both the mortgage crisis and oil futures hovering at $120 per barrel. If oil prices stay stratospheric, the cost of fueling cars and planes could slash US economic growth up to 2.3 percent and global growth by 3.6 percent, says Robert Wescott, former chief economist of the president's council of economic advisers and author of the $120 oil report.
Posted by stu on Sunday, May 11 @ 23:02:20 EDT (180 reads)
(Read More... | 736 bytes more | comments? | Score: 0)
Economy and the World in Crisis: Gas, Food, Thought
Public Policy; Political and Legal NewsCrisis is defined first as a "turning point" and secondly as a "crucial situation." Currently the world is deep into the latter as it relates to energy and food, though inevitably the present situation will evolve into the former. The international community, and particularly the United States, must be willing to think differently about energy, food, and the environment. The current paradigm, as expressed by consumption and inaction, reflects an underlying belief that there will always be more and that this crisis, and others before it, are temporary. Just as society had to accept that the Earth is not flat and the Sun is the center of the universe, we must now accept that oil is not a renewable resource and that how we live today will determine how our grandchildren live tomorrow. We must think about problems in a new way or we will never generate a new reality; we are, in fact, destroying our current reality.
Posted by stu on Sunday, May 11 @ 22:59:19 EDT (113 reads)
(Read More... | 1010 bytes more | comments? | Score: 0)
Who's Really to Blame for Rising Oil?
Consumption; Demand; PricesThis might be the worst kind of oil spill. The bubbly high price of oil has spilled over into food and the damage appears to be life threatening. Somalia is the latest to join the growing list of African countries where rising food prices have led to violence. A sack of rice that sold for $32 only one month ago is now going for $52. Over one billion Asians are requiring assistance to weather the effects of the soaring price of food around the globe. Haruhiko Kuroda, the Chinese bank's president, said an erosion of purchasing power has put Asia's poor at risk of hunger and malnutrition and could “seriously undermine the global fight against poverty and erode the gains of the past decades.” Food prices have an extremely high dependence on oil and oil-based products. Food processing, storage and distribution are all extremely energy intensive processes. In order to curb food inflation, we first need to lower oil. World leaders have no control over pricing and don’t know what to do.
Posted by stu on Sunday, May 11 @ 22:55:58 EDT (101 reads)
(Read More... | 1100 bytes more | comments? | Score: 0)
Drillers blame rules for gas costs
Geology; Reserves; Oil FieldsWorkers in the gas industry and their bosses turned out in force last week for the ninth Four Corners Oil & Gas Conference at McGee Park. Conference chairman Rod Troxell, the Health, Safety and Environmental Professional for Pesco Inc., called the conference "really more of a trade show," as evidenced by the 370-plus vendors' booths. More than 1,600 people attended the conference representing 310 industry companies. "It's a place for all the engineers and field people to come together and learn about the new technologies," Troxell said Wednesday.
Posted by stu on Sunday, May 11 @ 22:45:42 EDT (71 reads)
(Read More... | 707 bytes more | comments? | Score: 0)
China's energy security moves it closer to the Middle East
Public Policy; Political and Legal NewsEnergy consumption in China is growing as fast as the rapidly growing Chinese economy. China has changed from a net oil exporter to a net oil importer. In recent years, 40 to 50 percent of the oil that China consumes is imported. Of that, 60 percent comes from the Middle East. Saudi Arabia, Iran, Qatar and Sudan are the main suppliers. Therefore China has a significant interest in the Middle East, and any changes in the situation there will affect China's energy security. It is only natural for energy factors to play a role in China's policy toward the Middle East.
Posted by stu on Sunday, May 11 @ 22:40:55 EDT (75 reads)
(Read More... | 682 bytes more | comments? | Score: 0)
Russia becoming energized
Public Policy; Political and Legal NewsEven so, as energy prices soar, Russia grows wealthier and more powerful by the day, a sort of Saudi Arabia with snow. Interestingly, Russia today commands far more influence over Western Europe than it did when 100 Red Army divisions threatened the continent to the point where France began re-arming the Maginot forts. Russia's Gazprom now accounts for nearly 40% of Germany's and Ukraine's gas consumption, 33% of Italy's, 26% of France's heating needs, 70% of Austria's, and almost all of Eastern Europe's gas. Moscow does not need tanks to threaten Europe.
Posted by stu on Sunday, May 11 @ 22:38:03 EDT (86 reads)
(Read More... | 658 bytes more | comments? | Score: 0)
Saudi keeps June crude supplies to Japan steady
Consumption; Demand; PricesSaudi Arabia, the world's top crude exporter, will supply full contracted volumes of crude oil in June to two Japanese lifters, steady from May levels, industry sources said on Monday. "The supply will be the contract volume for June," said the source with a Japanese refiner. A second source with another Japanese lifter also said the supply was steady at full contracted volume for June. The two lifters did not ask Saudi Arabia for additional volumes on top of the contracts, the sources said.
Posted by stu on Sunday, May 11 @ 22:34:35 EDT (68 reads)
(Read More... | 587 bytes more | comments? | Score: 0)
Trains may not be our biggest worry
Public Policy; Political and Legal Newsvox_mundi writes: U.S. Sen. Chris Dodd, D-Conn., stopped by last week and said, among a lot of other things, that America needs bigger ideas. He lamented that for 25 years we've been mired in things too small. As a nation, "we need more creativity and imagination," he said, not quite pounding the conference table, but he seemed to mean it. "We need big ideas," he said with an exclamation point! ... Now, I like senators who ask us to think big. But often it is writers who are way ahead of our political class. Take James Howard Kunstler, for example, who had big ideas on the burbs. In the past 15 years he has had two insightful, scathing, best-selling attacks on suburbia in his "Geography of Nowhere" and "Home from Nowhere." He didn't set out to solve the two Connecticuts — the poor and failing urban education systems and the better schools in the suburbs. But his big idea now encompasses the end of two Connecticuts, two Americas in a way that is disturbing, but in his mind, coming.
Posted by stu on Sunday, May 11 @ 22:24:19 EDT (126 reads)
(Read More... | 1065 bytes more | comments? | Score: 0)
OPEC talk of pumping more oil
Consumption; Demand; Pricessomething_awfull writes: THE oil cartel OPEC said it would consult on a possible increase in production after the price of crude rose for a fifth successive day on Friday, trading above $US126 a barrel for the first time.

Amid heavy speculative buying by hedge funds, an OPEC source said member countries might discuss action aimed at bringing down the cost of fuel ahead of its scheduled meeting in September.

OPEC has insisted until now that the reason for the sharp increases in global prices has been due to factors other than demand and supply, and that production of crude has been adequate.

Posted by stu on Sunday, May 11 @ 22:18:08 EDT (79 reads)
(Read More... | 699 bytes more | comments? | Score: 0)
Civilization's Last Chance
Enviromental Headlines; Climate Changebillg writes: Even for Americans -- who are constitutionally convinced that there will always be a second act, and a third, and a do-over after that, and, if necessary, a little public repentance and forgiveness and a Brand New Start -- even for us, the world looks a little terminal right now. It's not just the economy: We've gone through swoons before. It's that gas at $4 a gallon means we're running out, at least of the cheap stuff that built our sprawling society. It's that when we try to turn corn into gas, it helps send the price of a loaf of bread shooting upward and helps ignite food riots on three continents. It's that everything is so tied together. It's that, all of a sudden, those grim Club of Rome types who, way back in the 1970s, went on and on about the "limits to growth" suddenly seem ... how best to put it, right.
Posted by stu on Sunday, May 11 @ 22:11:20 EDT (139 reads)
(Read More... | 945 bytes more | comments? | Score: 0)
Ghana: 'Literally, This Is Energy From Dirt'
Hydrocarbon AlternativesYou've heard of solar power, and also wind power. Now, you might start hearing about soil power as well.

Microbial fuel cells (MFCs) that make use of the energy given off by soil microbes are amongst the technologies that hold promise for bringing power to developing states, where electricity is often scarce.

Posted by waegari on Sunday, May 11 @ 17:25:28 EDT (244 reads)
(Read More... | 1720 bytes more | comments? | Score: 4)
High oil prices will break some airlines: Ryanair boss
Consumption; Demand; Prices The current record highs in oil prices will force some airlines into bankruptcy, the outspoken chief executive of budget airline Ryanair told a German newspaper on Sunday.

World oil prices have rocketed 25 percent since the start of 2008 and have doubled in the past 12 months from around 62 dollars.

If the high prices remain or rise over the next 12 months, some Ryanair competitors will go out of business, Michael O'Leary told the German daily Frankfurter Allgemeine Zeitung.

Posted by waegari on Sunday, May 11 @ 17:08:41 EDT (174 reads)
(Read More... | 770 bytes more | comments? | Score: 0)
The oil rocket
Business News; Market ResearchNothing can rise exponentially, even if it is crude Oil. The asset's exponential rise is more an indication of an ending trend and not vice versa.

There aren't any chilly warnings of Oil heading to $200, like many in OPEC believe. Does OPEC really know? The axiom linked with $40 plus Oil, as harbinger of recession has been long trashed and now not only we are waiting for recession but also for $200 Oil. It all seems a bit strange.

Posted by waegari on Sunday, May 11 @ 17:05:38 EDT (368 reads)
(Read More... | 1841 bytes more | 1 comment | Score: 3)
Survey
Your Retirement Investments?

401K
Pension
Mutual Fund
IRA
Stocks
CD's
Currency Exchange
Bonds
Commodities
Property
Mattress
Other



Results
Polls

Votes: 787
Comments: 11
 
Forums

 Anyone remember this car-toon?
 Mideast oil resources rise but gas declines
 The Oil Nonbubble
 When i go to Europe
 Chavez says Colombia seeks war with Venezuela
 We rely 100 % on these thoroughly fucked up people
 [Shelter] Storm Shelter
 Entergy to spin off merchant nuke plants in Northeast USA
 al-Maliki backs down - Fighting ends in Sadr City
 This is not our war :o(

Peak Oil News Forums

 
Who's Online
There are currently, 818 guest(s) and 35 member(s) that are online.

You are Anonymous user. You can register for free by clicking here
 
Old Articles
Sunday, May 11
· Iran looks to tap key oil field with homegrown crews
· Qatar says oil price out of OPEC's control
· Oil powered Norway gradually turns into the wind
· Low supply means it's the end of the road for cheap oil
· Australia: Families in west running on empty
· Gas prices hit another record high
· Greeks queue for petrol as fuel truckers strike
· Nuclear Fuel Recycling: More Trouble Than It's Worth
· The End of OPEC
· Oil Prices Are Up and Politicians Are Angry. Yawn.
· Price of fertiliser soars with food crisis
· Don't let rising gas prices push you into panic selling
· Bill McKibben: Civilization's last chance
· Is oil headed for $200?
· Colorado's oil shale lures Shell
· Rise in fuel siphoning from cars
· Green groups urge upholding U.S. tar sands fuel ban
· Be on the alert for thefts of fuel, State Police say
· America must learn to love dearer petrol
· Fuel costs claim FedEx fourth-quarter profit as latest victim

Older Articles
 
Light Sweet Crude Oil
 

Atom News FeedRSS 1.0 News FeedRSS 2.0 News FeedRSS Forums Feed