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Oil Depletion News

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Lagos — A new report authored by the United Kingdom Energy Research Centre (UKERC) has painted a gloomy picture on the future availability of conventional oil, which could have severe economic impact across the world. Also, Nigeria's gas utilisation project at the Ovade-Ogharafe oil field in Delta State has been successfully registered under the United Nations Clean Development Mechanism (CDM) of the Kyoto Protocol, boosting Federal Government's efforts to reduce gas flaring and improve utilisation. The report entitled "Global Oil Depletion: An Assessment of the Evidence for a near-term Peak in Global Oil ...
company that was founded on August 17, 1974. Wholly owned by the Government, the corporation is vested with the entire oil and gas resources in Malaysia and is entrusted with the responsibility of developing and adding value to these resources. Petronas is ranked among Fortune Global 500 's largest corporations in the world. Fortune ranks Petronas as the 95th largest company in the world in 2008 and 80th largest in 2009. It also ranks Petronas as the 8th most profitable company in the world and the most profitable in Asia . Since its incorporation, Petronas has grown to be an integrated international oil and gas company ...
REVIEWS AND OPINIONS
The death of Matt Simmons is a great loss « Aleklett's Energy Mix
Yesterday afternoon I received a message from Matt Simmons’ assistant Laura Russell that I found difficult to believe – it read that Matt had died suddenly. A few hours later the news had spread over the entire world (e.g. see an article in the Washington Post ). It is with great sorrow that I now write these words. In the autumn of 2001 I visited Colin Campbell in Ballydehob in Ireland. During the visit we discussed the possibility of organizing an international workshop on Peak Oil in Uppsala during the spring of 2002. I remember that I said that we needed speakers from the Middle East, Russia and the USA if we were to call ... market research, surveys and trends
When Truth is Unbelievable | Peak Oil News and Message Boards
As a college junior I frequented a website (www.dieoff.org) where prognosticators observed that with accelerating rates of environmental destruction, overpopulation and fossil fuel depletion, modern civilization was on the verge of collapse. Despite the alarmist tone, these writings were not pseudo-scientific rants, but well-researched articles by eminent authors spelling doom. And there were books on these subjects, too, such as Richard Heinberg’s The Party’s Over: Oil, War and the Fate of Industrial Societies. I kept my new-found realization that life as we knew it was coming an end to myself, for fear of being labeled a ... market research, surveys and trends

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OIL DEPLETION NEWS

Mexico: Oil Depletion and Illegal U.S. Immigration - Worldpress.org
Mexico's oil industry is, in large part, a direct reflection of the country's economic well-being. As those who have been following global oil output are aware, production in Mexico has started to wane, and just might decline very rapidly. Since the Mexican federal budget depends very heavily on oil revenues, the country may be faced with some tough times ahead, leading to increased pressures among its citizens to migrate north into the U.S. The giant Cantarell oil field lies deep under the water of the Gulf of Mexico. But in financial terms it stands astride the entire nation of Mexico. Since its discovery in ... industry trends, business articles and survey research
Peak Oil Primer (previously named Overview) | ODAC - The Oil ...
Oil is the world's premier source of energy and is fundamental to almost every important function of modern life. It fuels 95 percent of land, sea and air transport, so the efficient movement of raw materials and goods, as well as personal mobility, is almost entirely oil-dependent. Food production too relies heavily on oil to run farm machinery and to make fertilisers, herbicides and pesticides. Oil generates 40 percent of the world's commercial energy, provides heating fuel, and drives industry and commerce. No other existing energy source can match the versatility, convenience and low cost of oil. Moreover, it ... industry trends, business articles and survey research
RELATED NEWS
Caza Oil & Gas Announces Second Quarter Results and Provides Operational Update
HOUSTON, TEXAS, Aug 09, 2010 (MARKETWIRE via COMTEX) -- Caza Oil & Gas, Inc. ("Caza" or the "Company") (AIM: CAZA) is pleased to provide its unaudited financial and operational results for the three months ended June 30, 2010. Operational Highlights -- Caza drilled the Matthys-McMillan Gas Unit #2 development well located in the Wharton West Wilcox Field to a total depth of 15,000 feet. Caza has plugged the well back and plans to attempt a completion in the Yegua formation. The well has been perforated at a depth of 9,478 feet and bottom hole pressure tests are underway. Caza should be ... market trends, news research and surveys resources
Quicksilver Resources Reports Second-Quarter 2010 Results; Production Sets New ...
today reported net income of $86.8 million ($.49 per diluted share) in the 2010 second quarter as compared to a net loss of $21.8 million (a loss of $.13 per diluted share) in the prior-year period. Second-quarter 2010 adjusted net income, a non-GAAP measure, was $30.4 million ($.18 per diluted share) as compared to the 2009 period adjusted net income of $41.2 million ($.24 per diluted share). Details of adjusted net income are included in the attached tables of this news release. "Quicksilver has made tremendous progress in strengthening the company and adding growth opportunities for the future," said ... market trends, news research and surveys resources

INFORMATION RESOURCES

Peak Oil: A Turning for Mankind
oil, on which they utterly depend. But it was a short-lived price collapse. Before long, the underlying resource and depletion ... technology research, surveys study and trend statistics
Louisiana Department of Natural Resources - News Release
Louisiana Department of Natural Resources (DNR) Secretary Scott Angelle said today that the push by the White House to end long-standing tax incentives as part of the 2011 federal budget is a push toward higher energy prices, greater dependence on foreign sources of energy and fewer jobs in the state and nation.  “Even with the existing tax incentives to promote domestic energy exploration and production, our country still has to import almost 60 percent of our oil,” Angelle said. “If we raise the costs and risk of domestic production, that imbalance will only grow worse and further threaten our ... technology research, surveys study and trend statistics
Biologists find 'dead zones' around BP oil spill in Gulf ...
Methane at 100,000 times normal levels have been creating oxygen-depleted areas devoid of life near BP's Deepwater Horizon spill, according to two independent scientists Suzanne Goldenberg , US environment correspondent guardian.co.uk , Wednesday 30 June 2010 19.49 BST Poggy, or menhaden, fish lie dead and stuck in oil from the BP spill in Bay Jimmy, Louisiana. Fish are fleeing the area of the Deepwater Horizon spill, biologists say. Photograph: Sean Gardner/Reuters Scientists are confronting growing evidence that BP 's ruptured well in the Gulf of Mexico is creating oxygen-depleted "dead zones" where fish ...
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QUESTIONS AND ANSWERS
How has bp stock price fared in light of the Gulf oil spill?
Welcome to the ODAC Newsletter, a weekly roundup from the Oil Depletion Analysis Centre, the UK registered charity dedicated to raising awareness of peak oil. As oil companies reported sharply increased profits this week, an estimated 5000 barrels of oil a day was spewing into the Gulf of Mexico following the explosion of the Deepwater Horizon oil rig. This ecological disaster comes just a month after President Obama gave the green light to expand drilling off the US coast, and while the timing of the disaster could hardly be worse for big oil's PR, it is unlikely that policy will change as a result: the oil depletion ...
Google Answers: Oil depletion impact on earth
I would like to know if there is any science available that has determined what the impact on the earths surface will be when we have totally depleted the subterranean oils? I'm not a geologist, so I can't give you an expert assessment. But I can say that oil isn't, as many people visualise it, trapped in cavernous pockets, which would be left spatiously empty once the oil is drained from them. On the contrary, crude oil is trapped amid porous rock. It's closer to being held in a sponge than a cave. So when the crude oil is finally exhausted from an underground reservoir, there's really ...