Insight and inspiration in turbulent times.
The Federal Government will launch a major push to find another Bass Strait-type oil reserve to combat concerns over Australia’s looming oil supply crisis as part of a wide range of giveaways in today’s federal budget.
As soon as natural resources start running out or some alternative energy sources come up, Russia will start slipping down into a bottomless precipice and will inevitably collapse into small territories.
Saudi Arabia’s oil minister said the Organization of Petroleum Exporting Countries should increase quotas by 6.4 percent, causing the biggest drop in crude oil prices in more than a month.
A suspected sabotage attack on an Iraqi oil pipeline has caused a significant drop in exports, reports say.
Saudi Arabia is considered the world’s lone indispensable oil supplier. But is it a reliable one?
HOUSTON — Medium-sized energy companies have become more aggressive in booking proved undeveloped oil and gas reserves to compensate for their inability to achieve production growth, according to a report released Monday.
“By 2007 at latest, any Saudi princes that might remain in power will have had their pumping capacity bluff called many times over!”
The oil price, in dollar terms at least, is now the highest it has been since 1990. It was soaring oil prices that tipped the world into three of the last four world recessions — the early ’70s, the early ’80s and the early ’90s — so there is an obvious concern. Add in the fact that the two countries with the largest oil reserves, Saudi Arabia and Iraq, are not in the most stable condition.
Spiralling oil prices would force an economic crisis in Australia within 15 years if authorities failed to act now, the Australian Greens said today.
Stephen Leeb, co-author of The Oil Factor: Protect Yourself – AND PROFIT – from the Coming Energy Crisis talks about ever higher oil prices and how to profit from it.
Americans have long considered Saudi Arabia the one constant in the Arab Middle East–a source of cheap oil, political stability, and lucrative business relationships. But the country is run by an increasingly dysfunctional royal family that has been funding militant Islamic movements abroad in an attempt to protect itself from them at home.
New York Times columnist Paul Krugman on peak oil.
