Peak Oil News

The World Energy Outlook (WEO) is a yearly energy forecast published by the Organisation for Economic Co-operation and Development (OECD), and the International Energy Agency (IEA). The 2006 report urges the international community to invest heavily in energy efficiency in order to avoid a global economic crisis. Governments will need to invest at least $20 billion into the energy infrastructure over the next 25 years to meet the growing worldwide demand for electronic technologies and gadgets. Demand for oil and energy resources from industrialized nations like China are expected ...

Canadian oil wells supply a large percentage of American natural gas and oil imports. Satisfying America’s prodigious energy appetite depends on the continued availability of Canadian energy sources. About 25 percent of the crude oil and 80 percent of the natural gas imported into the United States come from our very accommodating neighbor to the north. More than half of the fuel pumped out of Canadian wells heads south to keep us Yankees warm and happily tooling about on our highways. What happens when Canada runs out of its oil and natural gas resources? What will this mean for the economies of both Canada and the United States? Even though the Canadian economy is no less dependent on hydrocarbon energy ...

Whenever the price of gas rises, North Americans begin to talk about driving less. Recent oil price trends have seen a noticeable reduction in SUV sales and have hit the large automobile manufacturers hard. Middle class America has been hit hardest by the rising cost of living; higher taxes and mortgages, car payments and the rising price of home and vehicle energy. Large suburban homes require large amounts of heat, electricity (for lighting) and air conditioning. Most households have two or more full-sized cars which are used to travel far distances for education and employment. All of these factors ...

Lou Grinzo, a technical writer and bachelor in economics, is working hard to raise awareness about the peak oil situation in two ways. First, he is trying to introduce people to the major trends in energy development and talk about what can be done for the future. Second, he wants to give people the references they'll need to fact-check his information. He says that he's been an 'energy geek' since the 1973 oil crisis, and he is obsessed with gaining knowledge about global energy economics and supplies. His take on energy resources is not as pessimistic as some, he believes oil will not become as expensive as some experts believe because the price ...

Global oil resources are at times difficult to measure. World oil statistics are available from a variety of sources, but no one can make an accurate prediction of when and where new oil deposits will be found, or how much oil exists in these unknown locations. In order to be able to predict the date when oil supplies will run out, we need to have a grasp of how many supplies currently remain. Future geo-technologies may allow us to better analyze oil deposits, but until then we have to rely on the data we have. Here is a comprehensive listing of research sources for current oil supply statistics. » Source: Peak Oil Statistics ...

Americans are celebrating plunging gasoline prices by hitting the roads. After barely rising during the summer months, gasoline demand rose swiftly in September, the American Petroleum Institute said Wednesday. Deliveries of gasoline to U.S. service stations, a proxy for demand, rose more than 4% in September from the same month a year ago. That number was boosted by the comparison with September 2005, when Hurricanes Katrina and Rita interrupted deliveries. But even excluding the hurricane effects, gas demand likely was up approximately 2% in September, API economist Ron Planting says. That's about triple the average increase over the prior six months and the biggest gain since August 2005. » Source: USA Today ...

The economic growth of many nations is exclusively linked to the international oil production economy. This fact results in increased resouce competition between the great powers, and as we have seen in recent U.S. foreign policy, war and conflict are born from these factors. The growing energy needs of Asian nations such as China and Japan are only likely to increase the political tension during the coming decades. America needs to lead by example by investing heavily in renewable energy research and technology. Not only will this leadership help lessen the growing energy needs in the continental United States, but it will also go ...

Recent oil reserve discoveries are leading some to wonder if the peak oil theory is off target in it's predictions for world oil depletion. Predicting the end of oil is not an easy or even particularly scientific process. Predicting the impact of the oil decline is even more difficult. This article debates whether or not we should be so worried about peak oil, and if another fuel source will simply replace our dependence on petroleum resources. Human nature is to problem-solve and be creative - survival is deeply instinctive. Throughout recent history, peak oil predictions have been proven incorrect. » Source: Energy Tribune Disaster struck “...

The United States Military is the the world's largest fuel-burning entity. More than half of the defense department's fuel budget is spent on fueling the U.S. Air Force. The Navy consumes about one third of defense oil resources and the Army uses around 12%. 25% of military energy is used to power and heat buildings and facilities - the remaining 75% is consumed for mobility purposes. This article gives a detailed breakdown of how much oil the military machine consumes. » Source: Whiskey and Gunpowder What will the world look like on the backside of Hubbert's Peak? What you see depends upon where you stand. If you happen to ...

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 ...