Filed under: Uncategorized | Tags: Ali Naimi, energy, James Hamilton, oil consumption, oil demand, oil production, peak oil
“There is no rational reason for high oil prices,” writes Ali Naimi, Saudi Arabian Minister of Petroleum and Mineral Resources, in today’s Financial Times. Well, I can think of one– if oil prices were lower, the world would want to consume more than is currently being produced.
via Econbrowser: A rational reason for high oil prices.
Filed under: Uncategorized | Tags: Elgin, Elgin gas leak, energy, Exclusion zone, Hans Deul, Natural gas, North Sea, Shearwater
Another monster from the deep.
A cloud of gas was reported to be surrounding the platform, which is located 150 miles (240km) off Aberdeen.
Workers from a second platform and drilling rig have been removed.
Shell has moved 120 non-essential staff from the Shearwater platform and Hans Deul drilling rig, about four miles from the Elgin, because of the drifting gas.
via BBC News – Elgin platform gas leak: Exclusion zone in place.
Filed under: Uncategorized | Tags: depletion, energy, England, North Sea, oil depletion, oil production, oil production declines, oil supply, peak oil, UK, UK oil production
For any modern nation, a 22% decline in oil production would be significant over the course of a decade. A 22% drop over a mere 12 months ought to be front-page news, yet this radical decline has passed relatively unnoticed.
via UK Oil: Plummeting production vs media inattention | Energy Bulletin.
Filed under: maps | Tags: Bakken, Barnett Shale, Eagle Ford, energy, energy production, fracking, hydraulic fracturing, Marcellus, Niobrara, oil production, Piceance Basin, shale gas, shale oil, tight gas, tight oil
Via EIA.
click to enlarge
Filed under: Uncategorized | Tags: energy, Lara Uselding, Mitsubishi, NRC, nuclear accident, nuclear power, Nuclear Regulatory Commission, radiation leak, San Onofre
Thousands of brittle tubes. Seems like a bad plan.
The Nuclear Regulatory Commission said Thursday it was sending a special team of inspectors to try to determine why the metal tubes, which were installed in Unit 3 in 2010, have become frail enough to pose a risk of leaks.
“This is a significant issue,” said NRC spokeswoman Lara Uselding. “A tube rupture is really the concern.”
Investigators have been looking into excessive wear on tubes in Unit 3 and its twin, Unit 2, which has been off line for maintenance and refueling. In a $670 million overhaul, two huge steam generators, each containing 9,700 tubes, were replaced in Unit 2 in fall 2009 and a year later in Unit 3.
via 4 more tubes fail in tests at Calif. nuke plant – BusinessWeek.
Filed under: Uncategorized | Tags: Asian oil demand, Chindia, Chris Nelder, demand destruction, efficiency, energy, fat gets trimmed, fuel efficiency, global oil consumption, OECD, peak oil, transportation
Chris Nelder explains a critical dilemma facing American consumers. As total available oil exports decrease (at a rate that would bring them to absolute zero in about four years), inefficient westerners will be outbid by the new Asian “middle class” for these diminishing supplies.
Of course, exports can fall to zero in theory only, not in practice. In reality, high prices will kill the most inefficient, unsubsidized demand first—in the U.S. and Europe. Next, demand will be curbed in net exporting countries, first via the removal of domestic fuel subsidies, and then by world prices. The demand of the four billion people in Asia will be the last to go because they use it most efficiently.
via Oil demand shift: Asia takes over | SmartPlanet.
Translation: The fat gets trimmed. The fat is here.
Filed under: Uncategorized | Tags: bitumen, Canada, crude oil, economic threshold, energy, marginal price, oil, oil sands, Suncor, syncrude, tar sands, unconventional oil
More commonly, less accurately known as oil sands.
From Canada’s Energy Future (pdf), a 2011 report from the National Energy Board.
The threshold will be highly dependent on the price of natural gas.
Filed under: Uncategorized | Tags: energy, net available exports, oil consumption, oil exports, oil production, peak oil, Yemen
Via the EIA’s Yemen page, which seems to rely heavily on Oil & Gas Journal.
Filed under: Uncategorized | Tags: Big Gas, Big Oil, Boone Pickens, Club for Growth, energy, frack, fracking, Koch Brother, Natural gas, peak oil, Peak Oil is dead, s
Kochs don’t like govt. picking winners and losers — especially if the losers are them.
The idea of using the tax code to spur conversion of trucking fleets has support from many Democrats and Republicans, and enjoys some powerful backers.
They include billionaire energy magnate T. Boone Pickens, Reid and President Obama, who touted his own natural-gas vehicles plan in a Wednesday speech. (A White House spokesman couldn’t be reached for comment on the Senate proposal specifically.)
But groups influential in GOP circles including Heritage Action (an arm of the Heritage Foundation), the Club for Growth, Americans for Tax Reform and Americans for Prosperity have long been battling the natural-gas plan.
via Natural-gas tax fight between Koch, Pickens reaches Senate floor – The Hill's E2-Wire.
Filed under: Uncategorized | Tags: cng, compressed natural gas, energy, FT-Bh, LNG, Natural gas, Toyota, transportation
The FT-Bh
Filed under: Uncategorized | Tags: albatross, cash for clunkers, energy, February 2012 SAAR, light vehicle sales, oil consumption, peak oil, SAAR, transportation
via Rortybomb (who took the chart from Calculated Risk). MK is very excited about the auto numbers that came out today.
http://rortybomb.wordpress.com/2012/03/01/auto-sales-surpass-cash-for-clunkers-month/
Filed under: Uncategorized | Tags: energy, Iran, Iran oil exports, Iran oil production, Iran oil trade, Iran sanctions, Pakistan, petroleum, sanctions
First one’s free. Yeah.. If you like it, you know where to find me. Tell your friends.
“It is only an initial offer of 80,000 barrels on deferred payment at the moment,” Irfan Qazi, a spokesman for Pakistan’s Ministry of Petroleum and Natural Resources, told Reuters.
via Iran offers Pakistan 80,000 bpd of oil – official | Reuters.
Filed under: Uncategorized | Tags: auto bailout, bailouts, car dealers, cash for clunkers, channel stuffing, energy, General Motors, GM, Government Motors, inventory, new car inventory, peak oil, transportation
via Zero Hedge:
Filed under: Uncategorized | Tags: boehner, congress, energy, gas prices, Mitch McConnell, peak oil, reid, SPR, strategic petroleum reserve
And that leaves me in weird agreement with Mitch McConnell, one of the most objectionable individuals in the entire den of thieves on Capitol Hill:
“The [SPR] is there for an emergency situation. You have to ask the question: If there were release from the [SPR], would it have the desired effect, and how long would it have the desired effect?” McConnell said.
via Worried Dems pressing Obama on gas prices – TheHill.com.
Filed under: Uncategorized | Tags: available net exports, Chindia, energy, India, India oil consumption, India oil imports, peak oil, unavailable net exports
Via the Energy Export Databrowser:
Also — China’s import picture.
Filed under: Uncategorized | Tags: Canada, energy, fuel taxes, gas tax, gas taxes, gasoline, oil consumption, oil demand, transportation
In 2010, per liter.
click to enlarge
See also GAS TAXES IN DIFFERENT COUNTRIES
Filed under: Uncategorized | Tags: Cantarell, crude oil production, energy, Ku Maloob Zaap, Mexican oil exports, Mexican oil production, Mexico, peak oil, Peak Oil is dead
I guess they haven’t heard that Peak Oil is dead. Once they get word, exports should jolly well pick right back up again.
State-owned Pemex said Friday the country exported 1.191 million barrels per day in the first month of 2012, the lowest level in 19 months and a drop from the 1.282 million bpd shipped in December.
The company sent 1.254 million bpd to refineries in Mexico in January, compared with 1.164 million in December.
via UPDATE 2-Mexico's January oil exports lowest since mid-2010 | Reuters.
Filed under: Uncategorized | Tags: energy, gasoline, Jevon's Paradox, mustachio'd, oil exports, OPEC, peak oil, porn 'stache, taco time, tacos, thoughtful man, Tom Friedman, transportation, Verleger
That’s what oil exporters do! Yup, we’re going to frack our production up about 200% over its current level, and get more efficient of course, and, of course, “do it right,” and then we’ll start exporting crude to those suckers in Japan and Europe. But first —
But all of this depends on an understanding between the oil industry and the environmentalists. If President Obama could pull that off, it would be a huge contribution to America’s security, economy and environment.
Yeah, that’s it. If we can just come to an understanding with the environmentalists, it’s OPEC time!
Friedman is unbelievably bad sometimes. Other times, believably so.
via http://www.nytimes.com/2012/02/26/opinion/sunday/friedman-a-good-question.html
You may also intensely dislike: THOMAS L. FRIEDMAN IS UNSUSTAINABLE
Filed under: Uncategorized | Tags: Brent, crude oil, crude oil prices, EIA, energy, Energy Information Administration, NYMEX, oil price, oil price predictions, oil prices, peak oil, WTI
Via http://www.eia.gov/forecasts/aeo/er/early_prices.cfm
Consider in light of their historical track record, which has … not been good.
Industrialized Cyclist Notepad 