All Posts Tagged With: "Saudi Arabia Oil Production"
Global Nuclear Power Renaissance Is Well Underway
US Energy Secretary Samuel Bodman says the America’s “nuclear renaissance” could be derailed by the credit crisis.
But Smart Commodities UK editor Garry White says a number of nuclear power projects are already underway in other parts of the world. India plans to build between 18 to 20 new nuclear plants over the next 15 years. Even the Middle East is shifting to the atom for its future energy needs.
Nuclear plants are also proven to be effective at water desalination. This will be vital in emerging markets, where populations are rising rapidly.
Saudi Arabia Hesitates Over OPEC Production Cut
There are mixed signals coming from OPEC regarding a possible cut in production, says Jason Simpkins in Money Morning. Yesterday, the cartel announced it would lower output by 520,000 barrels a day to clear up a surplus in the market. But largest member Saudi Arabia - who unilaterally raised output earlier in the year - has indicated that it might not comply.
Has the Oil Rally Run Its Course?
Editor’s Note: No market divides analysts as much as oil right now. Are record prices the result of speculators or a fundamental imbalance in demand and supply? Is the bubble about to burst or can oil prices climb further?
Oil Players Still In Denial Over Key Problems
Editor’s Note: The debate over why crude oil prices keep on setting new records rages on. The Daily Reckoning’s energy expert Dave Gonigam thinks the blame game that’s going on in the oil market detracts from the real issue at hand. The world’s supply of oil simply can’t keep up with demand.
Iraq Slams Bush Claim that Saudi Increase Will Lower Oil Prices
The Iraqi minister for oil has slammed President Bush’s claim that the recent decision by Saudi Arabia to increase oil production will help lower the price of crude oil.
This from Bloomberg:
The oil market is “well supplied,” and prices are being driven by “speculative flows” and not supply and demand, [the Iraqi oil minister] said today in an interview in Sharm el-Sheikh, Egypt, at the annual World Economic Forum.
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