So say some analysts who are pondering Exxon Mobil Corp.’s recent moves. Breaking from years of steadfast commitment to fossil fuels, the behemoth has announced big investments in electric cars, unconventional natural gas and algae-based biofuels
Archive for the ‘Oil and natural gas’ Category
Is Peak Oil Real? A List of Countries Past Peak
Only 14 of the 54 oil producing nations in the world are still increasing their oil production. The era of cheap oil is definitively over, as shown below.
T. Boone Pickens: Break Our Foreign Oil Addiction With Natural Gas
But we are in the classic “chicken and egg” situation: Manufacturers don’t want to build natural gas vehicles because they aren’t certain there will be a market for them. Consumers (companies and individuals) can’t buy such vehicles because the manufacturers won’t build them.
Energy supply crunch brewing
Forget low oil prices. The worry of the moment is a spike in oil prices and how long it will take before a supply crunch sends prices soaring
Supply up, demand down, but oil prices rise
Crude oil, the lifeblood of the global economy, costs $61.67, even as the world struggles through the worst recession since World War II. And prices are rising, climbing 26 percent in the last month.
Prices likely to rise over fears of ’serious oil supply crisis’
http://www.business24-7.ae/
by Nadim Kawach
A prominent Arab energy analyst has warned of a serious oil supply crisis that could trigger a fresh price spike in the absence of sufficient investments in crude capacity development projects.
Nicolas Sarkis, Director of the Paris-based Arab Oil Research Centre, which acts as a consultant to the 11-nation Organisation of Arab Petroleum Exporting [...]
As Oil and Gas Prices Plunge, Drilling Frenzy Ends
The number of oil and gas rigs deployed to tap new energy supplies across the country has plunged to less than 1,200 from 2,400 last summer, and energy executives say the drop is accelerating further.
Qatar Thrives on Natural Gas as Companies, Workers Flee Dubai
As Dubai scales back plans to build a waterfront development twice the size of Hong Kong Island, 30,000 workers off the coast of Doha in Qatar are constructing a $14 billion luxury residential project called the Pearl.
IEA: No spare oil capacity at the end of 2013
The International Energy Agency (IEA) fears that an expected recovery in oil demand from 2010 and oil project cancellations due to low crude prices and the credit crisis will mean no spare oil capacity at the end of 2013.
