UK: Energy bills set to soar
Soaring oil prices and EU regulations on carbon emissions are expected to result in a 40% hike in the price of electricity, and 25 % in price of gas.
Consumption & Demand
Raymond: Facing Some Of The Hard Truths About Energy
For a variety of reasons, we expect fossil fuels to provide about 80 percent of the energy used in 2020, and to increase — and I emphasize increase — in absolute magnitude by about 65 million oil equivalent barrels per day. Just how much is 65 million barrels per day? Well, it is close to eight times Saudi Arabia’s current crude oil production.
World Oil Use to Rise the Most Since 1980, IEA Says
World oil demand this year will rise the most since 1980 as economic growth leads to higher-than-expected use in Brazil, India, China and the U.S., the International Energy Agency said.
Engines revving as China goes car crazy
Automakers see ‘gold rush,’ others fear impact on environment
Got Oil? Now, Try to Find Tankers to Carry It
Now that OPEC has agreed to raise its crude oil production quotas in hopes of taming high and jittery oil prices, industry experts are growing more concerned about both the capacity and the security of oil tankers, the next link in the supply chain.
After the oil runs out
People complain now about gasoline at $3 per gallon. After Hubbert’s Peak, $7 per gallon will seem cheap.
Nigeria paralysed by mass strike
Much of Nigeria has come to a near-standstill after millions of workers walked out over rising fuel prices.
Australia: Oil’s not well: crisis looms
The opening session of the 10th South East Asia Australia Offshore Conference will hear that Australia’s demand for oil is greater than supply and the gap is growing.
Raymond urges “constructive relationships” with oil-producing nations
“We simply do not yet have the economic solutions or technologies that would permit us to meet future energy demands without carbon emissions growth,” Exxon Mobil chairman Lee R. Raymond said.
Join us as we watch the crisis unfolding
Saudi Aramco could turn some valves and increase production rate by two million barrels per day. In doing so, they might cut short the life of their largest resource.
Oil supplies: we’re on a knife-edge
OIL supplies are now so tight that just 1.5 million barrels of oil a day – less than 2% of global production – is keeping another potentially devastating surge in energy prices at bay, experts have warned.
U.S. addiction to oil puts it at mercy of risky characters
Ultimately, it’s up to U.S. consumers to wean themselves from their costly addiction to oil, which increasingly is coming from less-than-stable parts of the world. And this will require some tough love.