Peak Oil News

World oil production has reached peak capacity. We are now facing the downside of the peak oil curve and the consequences on world energy markets will be more than uncomfortable. The decrease in production capacity means we no longer have the ability to compensate for minor fluctuations in oil markets. The major crude oil suppliers are all reaching the breaking point, which will spell the inevitable end of industrial expansion. Alternative energy technologies will not help industrial markets to expand, only slow the decline. The problem lies in our ability to comprehend this looming catastrophe and act quickly enough to avoid a complete economic collapse. » Source: Daily Reckoning Against the background of everything else happening in the financial markets ...

According to ExxonMobil, global energy prices will most certainly grow up to 50% by the year 2030. This price increase is estimated to occur due to the pace of expanding economies in developing countries, and the rate of worldwide population growth. "Perhaps most significant, we anticipate energy demand in developing Asia-Pacific to grow at 3.2 per cent annually, increasing to one-third of the world's total." This is an amount "equivalent to the energy demand of North America and Europe combined, the US-based oil corporation says in a booklet on "The Next Quarter-Century of Energy" released here recently. » Source: Bernama.com Every day, the world consumes about 230 million barrels of ...

The price of oil is down almost 25%. Gasoline prices at the pump are down almost $1. Make no mistake, though, the returns on your investment portfolio over the next 10-15 years will be determined by energy investments. Invest wisely and prosper; don’t, and risk peril. Don’t be fooled by short-term trends in the price of oil and other energy-related commodities. Don’t be influenced by the talking heads on the evening news or cable television who say that there is a speculative commodities bubble and that the price is set to fall. Although the price of oil will continue to fluctuate widely, the overall trend is clearly up. » Source: Senior Journal Recently, Chevron announced a major new oil ...

The Stripper Well Consortium has developed an innovative new technology which will decrease production costs and increase oil production in low-producing oil wells, known as 'stripper wells'. This technology is hoped to be able to help secure the U.S. nation's oil and gas supplies by taking advantage of many low-yield wells. Currently 80% of United States oil wells are classified as marginal so this advancement has the potential to supplement current oil production rates and decrease costs, hopefully increasing production by up to 30 percent. It is believed that the new technology's major acheivement will be to reduce wear and tear on oil and gas pipelines. » Source: PressZoom The technology, named the ...

A possibly lucrative oil supply has been discovered in the dead sea, according to The Genco Group. Company officials believe the discovery could supply from 4 to 6 million barrels of oil. The oil was discovered at a depth of 2000 meters, and is estimated to have a potential value of $300,000,000. Originally exploration of the region's oil supplies were put on hold as it was not thought to be of economic value. Higher global oil prices have encouraged a more innovative approach to oil exploration, making this new discovery an encouraging reality. Studies are still being conducted to determine the actual feasability of oil drilling in the area. » Source: Jerusalem Post Oil has been ...

The 2008 US presidential elections will be very important considering the implications of the coming peak oil crisis. The oil issue is likely to be downplayed during the 2006 elections. However, many major oil producing nations are quickly approaching depletion, and many analysts believe we will reach the peak oil production during the 2008-2012 presidential term. A severe oil crunch and resultant high oil prices will impact all sectors of society. The party and president that gets elected in 2008 will have a major economic and social crisis on their hands. » Source: Falls Church Last week they took a poll here in Virginia on how the race for US Senate ...

As the global population problem increases, serious problems seem likely to occur. All sectors of the economy will experience price increase and demand due to resource shortages. Overcrowding brings out the worst in people, as we have seen thanks to the "road rage" phenomenon. Add to these stresses looming climate change challenges and energy supply crisis and we seem doomed for disaster. The current social situation in America doesn't leave much hope for a co-operative solution to the population issue. More innovative program initiatives at the governmental level are needed. » Source: Augusta Free Press Sometime during October, according to the U.S. Census Bureau, America will add its 300 millionth resident. While profiling the candidate may be a quirky exercise in fiction writing - it will ...

A former government adviser has warned it is "only a matter of time" before BP or Shell faces a bid from a Russian state-owned group such as Gazprom which could threaten western oil supplies. Professor Peter Odell, an energy economist, says ExxonMobil is also vulnerable to a Chinese takeover as the large UK and American stock-listed oil groups lose their influence in global markets. » Source: Guardian Unlimited "A Chinese bid for Exxon and or Chevron and or a Russian bid for Shell and or BP, backed by funds provided by the wealthy member countries of Opec seem likely to be only a matter of time. "With the 'majors' gone there will be concern in the main OECD countries for ...