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Posts Tagged ‘Peak Oil’

Is the Second Great Depression Imminent?

Here is the “recipe” for the greatest disaster ever. What cheap and abundant oil created, Peak Oil will destroy; our failure to invest in alternatives 10 or 20 years ago is about to fall on us.

Bad news bearers

Collectively, the world’s Big Five (Chevon, Exxon Mobil, BP PLC, Royal Dutch Shell and Conoco Phillips) raked in $44.4 billion, up 58% from a year ago in the third quarter. Yet, despite being richer than more than half the world’s economies combined, these giants are now warning they’re bracing for the fallout of a global economic meltdown. One, I might add, they helped to ignite by limiting production when demand was at a high, and peak-oil speculators were laughing all the way to the bank.

Peak Oil: Are Oil Prices Destined to Rise Again?

THE WALL STREET JOURNAL October 31, 2008, 12:13 pm Posted by Keith Johnson Crude oil futures continued down on Friday, spooked by the dim outlook for the U.S. economy. That’s precisely what makes it likely oil prices will rebound next year.  A tough run upstream (AP) Big oil companies are already finding it harder to maintain, let alone [...]

Global oil crunch

Even Royal Dutch Shell, commissioned to write a balancing view for the group’s report, is forecasting a plateau of supply as production moves to more difficult sources such as ultra-deeplayers and tar sands.

UK will face peak oil crisis within five years, report warns

Skrebowski predicts that global oil production will peak in the period 2011-2013 and then decline steadily, with non-conventional sources such as tar sands failing to fill the gap in time to avoid a serious energy crunch.

Shell’s hilarious attempt to beef up email security

By John Donovan 7 October 2008 Shell employees will need to be even more on their guard when communicating by email or using instant messaging systems. Shell Global Security managed by Ian Forbes McCredie OBE, a former senior officer of the British Secret Service, will now have access to an archive of all such communications. The [...]

Drowning in oil

Rockefeller’s business model has permeated throughout the world as well as his hunger for more. When Standard Oil was broken up in 1911, two splintered companies were present day ExxonMobil and Royal Dutch Shell. Today, ExxonMobil and Royal Dutch Shell are two of the largest companies in the world, in fact rated numbers two and three in 2008 by Fortune 500 magazine.

Peak oil is coming, and we’re unready

Jeroen van der Veer, chief of Royal Dutch Shell, earlier this year predicted 2015 as the year the world reaches peak production. John Hess of Hess Corp. said: “An oil crisis is coming in the next 10 years. It’s not a matter of demand. It’s not a matter of supplies. It’s both.”

Cries in the Dark: How serious is America’s energy crisis?

James Schlesinger, the first U.S. energy secretary, has said for decades that when it comes to energy policy, the U.S. toggles between complacency and panic.

Shell says world can stabilize greenhouse gas levels

Thirst for energy will double in the first half of the century, but increased biofuel production and carbon storage could help the world stabilize greenhouse gas levels by the 2020s, oil giant Shell said on Wednesday.

Who wants oil prices to fall?

…does Saudi Arabia really want to bring oil prices down?

Demand causing oil crisis, insists Brown

Gordon Brown clashed with leading oil-producing nations yesterday, insisting that surging demand from the developing world rather than speculative pressures was driving up oil prices and creating an oil crisis to match those of the 1970s.

Warning that oil summit could push price up

Van der Veer has said peak oil is close and that it is time to start producing it from new sources such as tar sands and gas-to-liquids.

Is this the end of oil?

For generations, we’ve taken it for granted. But as prices soar and reserves dwindle, the time is fast approaching when mankind will have to live without oil. Are we ready to confront some really inconvenient truths?

Spoiling the barrel

Tiny printing on the inside cover of the document reveals a catch-all caveat. The information presented comes not from primary BP research but from “official sources and third-party data” and “does not necessarily represent BP’s view of proved reserves by country”. This astonishing get-out clause has been inserted in the BP review every year since Shell was caught lying about its reserves in 2004.