All Posts Tagged With: "Tar Sands"
Clean Tech Is the Answer to the Global Oil Crunch
Dan Denning in The Daily Reckoning Australia says the world is facing a global oil crunch. And new ’solutions’ like Canada’s tar sands and Colorado’s shale oil are actually hugely wasteful of energy. We need an real advance in solar technology, says Dan…
Why George Bush’s Useless Plan Is Great News for Your Oil Investments
He’s a decade too late – the oil price will stay high. George Bush’s plans to boost US oil production are pathetic… but there was nothing more he could say.
Russia Will Develop Arctic Oil at Expense of US
Crude oil prices are through through the roof. Supply is not keeping pace with demand. Speculators may or may not be pushing prices even higher.
There are two major options on the table to increase supply: Canada’s oil sands and Arctic reserves.
Canada has massive oil reserves in Alberta’s oil sands. Companies are already mining 1.3m barrels a day of heavy crude oil from the sands. But they expect to spend another £50bn to more than double production to 3.5m barrels by 2011. But a huge amount of energy is neederd to get extract the oil.
Shale Gas and Shale Oil Explained
Editor’s note: What are shale fields, and how easy is it to suck oil out of them? That depends, says Matt Badiali. As companies like Schlumberger (SLB), Halliburton (HAL) and Baker Hughes (BHI) are finding out, if it’s a permeable reservoir then it’s all systems go. If it’s an impermeable reservoir, then it will take time, effort and horizontal drilling.
This piece is taken from The Growth Stock Wire. It’s in the form of a questions and answers session. But it’s well worth the read if you’re interested in the ins and outs of shale oil.
Midnight Oil
For a useful way to think about energy exports and prices, Dallas based geologist Jeffrey Brown points to the current situation with global rice supplies. Brown among others worked on the Export Land Model (ELM), a model that reflects the decline in oil exports as a result of Peak Oil.
Solar Stock Ersol Rises on Bosch Deal
Solar stock Ersol rose to a new record after German engineering giant Bosch said it paid $157 a share, a premium of more than 60%, for a controlling stake in the company. This from The Guardian:
Shares in leading German solar stocks rose substantially on expectations that other big players, including oil groups, are on the prowl in a market that grew to €6.6bn last year and is forecast to top €18bn by 2020.
Shell Boss: No Oil Shortage
Royal Dutch Shell Chief Executive has weighed in alongside OPEC, claiming that there is no shortage of physical oil supplies, and the crude oil prices should drop.
“As the post-Memorial Day hangover lingers, and $4 per gallon gasoline becomes a national reality, expect more and more daily energy prognostications,” says William Patalon III in Money Morning.
Energy Industry Must Change or Die
Companies specializing in centralized fossil fuel fired generation need to move towards energy efficiency and diversity of generation, Scottish and Southern Energy, Britain’s second largest energy supplier, said today.
“The days of meeting an unchecked demand for energy through monolithic carbon intensive power stations are coming to an end. Increasingly the emphasis will be on energy efficiency, renewables, cleaned up fossil fuel plant and micro generation,” the company said in a statement accompanying its full-year results, according to Britain’s The Guardian newspaper.
Number of OPEC Countries Shrinks as Indonesia Bows Out
The number of OPEC countries has dropped to 12 from 13 after Indonesia an OPEC member since 1962, has announced it will leave the oil producers’ consortium due falling oil production. This from Bloomberg:
Indonesia, the only OPEC member in Southeast Asia, will pull out of the group as aging fields and declining production force the region’s biggest economy to boost imports.
What Commodities Bubble?
Although it’s tempting to describe sky-high commodities prices as being the latest ‘bubble’ to hit the markets, for commodities such as crude oil and corn, basic supply and demand may be pushing up prices. This from The Wall Street Journal:
Prices, to be sure, are soaring — crude oil fetched $132.19 a barrel in New York on Friday, up 103% from $64.97 a year earlier. Yet crude has posted similarly massive increases a number of times in the past three decades. Most notably, in the spring of 1980, as gasoline lines lengthened, the price of crude oil was 150% above the year-before level.
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