|
| |
|
Hydrogen or Petroleum?
DOES THE WORLD RUN ON OIL ONLY
BECAUSE OIL COMPANIES RUN THE WORLD? |
OPEC Warns of 'Unlimited' Oil Prices if Iran Is Attacked
International Herald Tribune
July 10, 2008
|

AN UNENDING FUTURE
OF PROFITABLE OIL WARS
U.S. SENATE BETRAYS ELECTORATE
"With 116,000 jobs and nearly $19 billion in investment at risk in the
renewable energy industries, a minority of the Senate has again frustrated
the desire of millions of Americans across the political spectrum who
overwhelmingly support clean, home grown energy."
Randall Swisher, American
Wind Energy Association
Senators Block Stimulus Package with PTC Extension
Jeff Siegel
North American Windpower
February 7, 2008 |
|

|
|
Problem In Replacing
Oil Reserves Could Worsen
Isabel Ordonez
Dow Jones/Easy Bourse (France) February
7, 2008
|
Chevron announced
Friday that it replaced just 10% to 15% of its reserves in 2007, a rate
lower than the already pessimistic 50% to 60% analysts estimated. And
although Chevron's report is expected to be the weakest among the oil
giants, analysts also expect ConocoPhillips, Exxon Mobil Corp., and Royal
Dutch Shell PLC to report reserves replacement shy of 100%.
-
Peak Oil Rapidly Approaching Warns Oil Analyst
AME Info February
7, 2008
...Oil output
is already shrinking in 60 of the world's 98 oil producing countries,
with new countries joining the list almost yearly. Since the late 1990s,
new entrants to the list have included significant producers such as
Britain, Norway, Denmark, Mexico, Argentina, Columbia, Australia and
Oman. This trend
suggests that aggregate oil output for non-OPEC countries will peak in
about 2010, leading to greater reliance on OPEC's reserves. However,
Strahan said relying on OPEC is a worrisome prospect, as he believes the
leaders of OPEC have greatly exaggerated the organisation's reserves.
-
Peak Oil: Is it Real? When Might It Occur?
Matthew R. Simmons, Chairman, Si9mmons &
Company International
-
Traders Bet Oil Will Hit $200 a Barrel
Grant Smith
Bloomberg/Montreal Gazette January
8, 2008
Simmons, whose firm is a Houston-based investment bank that focuses on
energy, said in an interview that inventories "are tight as a drum and I
don't see how we get out of this box. Demand clearly isn't starting to
slow down."
|
Oil Exploration in Amazon Threatens "Unseen" Tribes
Kelly Hearn
National Geographic News
March 21, 2008
|

Exxon's Wrathful Tiger Takes on Hugo Chávez
The Economist (UK)
February 14, 2008
|
Several rivals accepted
the government's new terms. Exxon, along with ConocoPhillips, another
American firm, chose to invoke the arbitration clause in its contract
(which had over two decades to run). More than the money, it is reputed to
want to send a firm message to the world's resource nationalists. Or, as
Venezuela's deputy oil minister, Bernard Mommer, put it, to “intimidate
other producers”.
-
Venezuela Halts Oil Sales to Exxon Mobil
Fabiola Sanchez
Seattle Intelligencer (WA) February
12, 2008
Venezuela's announcement came
after Ramirez, the oil minister and PDVSA president, reiterated in a
newspaper interview Tuesday that Venezuela is ready to cut off oil
supplies to the United States if pressed into an "economic war."
...Ramirez said Venezuela is selling the U.S. a daily average of 1.5
million barrels of crude and other products derived from oil.
-
Chavez
Threatens US Oil Cutoff
Sandra Sierra AP
February 11, 2008
Venezuela
accounted for about 12 percent of U.S. crude oil imports in November, the
latest figures available from the U.S. Energy Department. The 1.23 million
barrels a day from Venezuela makes that country the U.S.'s fourth-biggest
oil importer behind Canada, Saudi Arabia and Mexico.
-
VENEZUELA: Bush's Next Oil War?
Stuart Munckton Green
Left March 16, 2005
|
|

|
|
Problem In Replacing
Oil Reserves Could Worsen
Isabel Ordonez
Dow Jones/Easy Bourse (France) February
7, 2008
|
Chevron announced
Friday that it replaced just 10% to 15% of its reserves in 2007, a rate
lower than the already pessimistic 50% to 60% analysts estimated. And
although Chevron's report is expected to be the weakest among the oil
giants, analysts also expect ConocoPhillips, Exxon Mobil Corp., and Royal
Dutch Shell PLC to report reserves replacement shy of 100%.
-
Peak Oil Rapidly Approaching Warns Oil Analyst
AME Info February
7, 2008
...Oil output
is already shrinking in 60 of the world's 98 oil producing countries,
with new countries joining the list almost yearly. Since the late 1990s,
new entrants to the list have included significant producers such as
Britain, Norway, Denmark, Mexico, Argentina, Columbia, Australia and
Oman. This trend
suggests that aggregate oil output for non-OPEC countries will peak in
about 2010, leading to greater reliance on OPEC's reserves. However,
Strahan said relying on OPEC is a worrisome prospect, as he believes the
leaders of OPEC have greatly exaggerated the organisation's reserves.
-
Peak Oil: Is it Real? When Might It Occur?
Matthew R. Simmons, Chairman, Si9mmons &
Company International
-
Traders Bet Oil Will Hit $200 a Barrel
Grant Smith
Bloomberg/Montreal Gazette January
8, 2008
Simmons, whose firm is a Houston-based investment bank that focuses on
energy, said in an interview that inventories "are tight as a drum and I
don't see how we get out of this box. Demand clearly isn't starting to
slow down."
|
"An absolute disaster!"
Capetown Reeling from from Chevron
Refinery Shutdown
Crisis Spreads to Fuel and Gas Supplies
Cape Times (South Africa)
February 6, 2008
|
BP's Alternative Energy Ploy
Don't miss this outstanding web documentary!
-- RDM

Burning
Capital -- BP Exposed
What does "Beyond Petroleum" really mean?
Platform Research (UK)
February 5, 2008 |
 |
GOT OIL?
Pumping Poverty
Britain's Department of International Development &
the Oil Industry
Platform Research (UK)
...82 per cent of the World
Bank Group (WBG) financing has been for projects that primarily export
oil to developed countries and therefore do nothing to meet the energy
needs of developing countries.
....far from helping the world's poorest people - such aid
often serves instead its wealthiest corporations, leaving the poor worse
off than before and aggravating global climate change. |
 |
|
BIG OIL THANKS YOU! NOW BEND
OVER.
Iraq "War" Now Exceeds the Cost of a
Nationwide U.S. Hydrogen Economy
"The bill for Iraq over the past five years is
now approaching a cumulative $500 billion, or about $100 billion per year
on average."
Larry Lindsy, Director of the National
Economic Council
What the Iraq War Will Cost the U.S.
Fortune
January 11, 2008 |
|
Uh, you
mean like our world?
New Combat Videogame Depicts a World at War Over Rapidly Dwindling Crude
Supplies
Steve Hargreaves CNN Money
January 18, 2008
On a futuristic battlefield littered with broken oil
wells, burnt-out electric cars and dilapidated wind turbines, you are
leading crack military unit on a mission to secure the world's last
remaining oil supplies. Your enemies are the Russians and Chinese, who are
of course after the same prize.

Frontlines: Fuel of War
The Oil War can be addicting!
|
|
"President Bush is
over in the Gulf now begging the Saudis and others to drop the price of
oil. How pathetic. We should have an energy policy right now, putting
people to work in green-collar jobs as a way to stave off the recession,
moving us towards energy independence."
U.S. Presidential Candidate
Hillary Clinton
Bush Oil Price 'Begging' Is Pathetic: Clinton
Australia Network
January 16, 2008 |
 |

Aiding Oil
Harming the Climate
A DATABASE OF PUBLIC
FUNDS FOR FOSSIL FUELS
Oil Change International
December 2007
At least
$61.3 billion in
international money has gone to subsidizing the oil and gas and
industries worldwide since 2000. |
...The $61.3 billion in oil aid is
in addition to the estimated
$150-$250 billion in domestic
subsidies that national governments provide to
their oil and gas industries annually, according to the recent Stern
Review on the Economics of Climate Change. They also do not include any
of the costs of military operations around the world which are often
fairly characterized as a subsidy to the oil industry.
"The World Bank Group should phase out investments
in oil production by 2008 and devote its scarce resources to investments
in renewable energy resource development..."
Dr. Emil Salim
The World Bank Group's Extractive Industries
Review Report, 2004
The World Bank Group remains the
single largest multilateral leader in oil aid, with about $8 billion
since 2000. Recent analysis by the End Oil Aid coalition has revealed
very disturbing trends at the Bank: |
- In 2006, the World Bank increased its energy
sector commitments from $2.8 billion to $4.4 billion. Oil, gas and
power sector commitments account for 77 per cent of the total energy
sector program while renewables account for only 5 per cent.
- In 2007, the International Finance Corporation
private-sector lending arm of the World Bank provided more than $645
million to oil and gas companies. This is an increase of at least 40
percent from 2006.
- More than 80 per cent of the World Bank Group's
oil extraction projects since 1992 are designed for export, rather
than the alleviation of energy poverty.
-- excerpted from the Executive Summary
...The world's addiction to oil
runs deep and oil corporations are among the most influential companies
in the world. They are actively using their influence to develop allies
within government and block much needed reforms. The result is that we
are pursuing an incoherent and often contradictory energy policy whereby
governments are promoting the expansion of the oil industry and working
to overcome oil addiction at the same time.
The world should keep its promises to the poor. The developed
world has committed to doing its part to fight global poverty, yet every
year it spends some of its valuable development assistance resources on
oil and gas subsidies instead of poverty alleviation. This misuse of
funds must stop.
It's fiscally irresponsible to spend billions of dollars to
subsidize the oil and gas industry while spending billions more to fight
oil addiction and combat climate change. Continuing to subsidize the
fossil fuel industry undermines investments in new, clean energy
technologies, and increases the risk of dangerous climate change. |
|

The report does
"not include any of the costs of military operations around the world
which are often fairly characterized as a subsidy to the oil industry."
"Just wait 'till they add in the cost
of WWIII." -- RDM |
|
"I can say with
some professional knowledge and experience that if Bush invades yet
another Muslim oil state, it would mark the end of U.S. influence in the
crucial Middle East for decades."
George McGovern
Why I Believe Bush Must Go
Washington Post
January 6, 2008 |
|
|
|
BLOOD PER GALLON |
|
Alan Greenspan Claims the
Iraq War Is Really for Oil
Graham Paterson Sunday
Times (UK) September 16, 2007 |
|
America's elder statesman of finance,
Alan Greenspan, has shaken the White House by declaring that the prime
motive for the war in Iraq was oil. ...“I am saddened that it is
politically inconvenient to acknowledge what everyone knows: the Iraq war
is largely about oil,” he says. |
|
BUSH OIL WAR BACKFIRES
JOHNNY DIED FOR PETROCHINA

Iraq Revives Saddam Deal with China
Jamil Anderlini, Steve Negus
Financial Times (UK) June 22, 2007 |
|
China National Petroleum Corporation,
the country’s largest oil company and the parent of listed group
Petrochina, signed a deal with Iraq in 1997 to develop the al-Ahdab oil
field. The field is one of the first to be offered to foreign investors
since the 2003 US-led invasion.
Iraq has been reluctant to revive Saddam-era contracts, but seems to have
turned to China as security problems and uncertainties over Iraqi
investment law have deterred other investors.
|
|
NOW
IT'S OUR WAR?
RALPH, GET A CLUE!
YOUR WAR IS AGAINST RENEWABLE ENERGY FOR THE PROFIT OF FOSSIL
STAKEHOLDERS.
- RDM
"There's a war going on against energy from
fossil fuels. I can't understand
the pure venom felt against the oil and gas industry."
Rep.
Ralph Hall, Republican - TX
Career recipient of $985,530 in funding from oil, gas & utilities
|
|
THE
TRAITOROUS U.S. POLITICIANS WHO HAVE BEEN BOUGHT BY THE INTERNATIONAL
OIL INDUSTRY - AND WHO ARE PREVENTING THE EXPANSION OF CLEAN, CHEAP DOMESTIC RENEWABLE
ENERGY - ARE POLITELY DESCRIBED AS SUFFERING FROM "MISPERCEPTIONS" AS THEY
CREATE A CATASTROPHIC FOREIGN POLICY OF PERPETUAL RESOURCE WARS TO BENEFIT
THE PROFITS OF BIG OIL. THE
VOTERS WHO KEEP RE-ELECTING THESE BASTARDS DESERVE THE WORLD THEY CREATE -- BUT THEIR
CHILDREN DON'T.
-- Richard D. Masters
|
|
"Petrol
and
Diesel
are Dead"
Says GM
Autocar (UK) June 11, 2007 |
|
The world’s second largest car
company now views hydrogen fuel cell power as the “the end game,”
according to its director of advanced technology vehicle concepts Dr
Christopher Borroni-Bird. ...“Hybrids are not a solution,” he said. “They
just delay the day of reckoning. The debate about hybrids being cleaner
than diesel is irrelevant - the diesel is a dead end because it uses
fossil fuels.” Dr Borroni-Bird said that hydrogen-powered and electric
cars would develop alongside each other, and that GM would have a
“cost-effective” fuel cell car by 2010. “We will build a car that runs on
renewable energy, but it’s not our responsibility to produce the fuels,”
said a GM spokesman. |
|

Dr. Chris
Boronni-Bird |
"Imagine a world where we do not have to
concern ourselves with the supply of oil from the Middle East -- it would
revolutionize government priorities, military spending and make Americans
feel much more safe and secure. Imagine that the hydrogen fuel could come
from a variety of sources, such as from corn (Midwest), hydroelectric
power (Quebec), nuclear power (California), solar cells (Southwest), wind
(Dakotas), etc. Not only |
would this create very many, technologically advanced new
jobs, but this diversity would also dramatically stabilize the economy
from fluctuations in supply from one source.
"At a more personal level, imagine being
able to refuel at home (using home electrolyzers or reformers) each night
and, in a pinch, being able to provide back-up power for the home if there
is a blackout. These capabilities would give individuals more independence
and options, and make life easier for them. The benefit and flexibility of
this technology is so powerful that it could literally open up hundreds of
new markets around the world to where entire populations who now only
dream of owning an automobile will soon be able to buy one."
Hydrogen Power: A Discussion with Chris Boronni-Bird
PBS
May 19, 2004 |
|
WHY SUPPORT RENEWABLE
ENERGY, ANYWAY?
NATIONS TO BECOME FO$$IL ENERGY ROBBER BARONS!
Beware of Energy Nationalism, Warns Global Agency
A growing trend towards nationalism over
resources in Russia and even Britain could backfire by cutting expenditure on
oil and gas worldwide at a time when demand is likely to rise faster than
expected over the next five years, the International Energy Agency warned
yesterday.
Guardian (UK)
July 27, 2007 |
|
BODMAN'S EPIPHANY?
"We can no longer explain (high oil
prices) here in this country on the basis of refinery problems."
U.S. Energy Secretary Sam Bodman
(the
seventh wealthiest man in the U.S. government)
US Economy 'in Danger Zone with Oil Price'
Reuters
August 3, 2007
Near record high crude oil prices have
put the US economy in the "danger zone" and the world's producers must boost
supply to prevent shortages, US Energy Secretary Sam Bodman has said.
“Our
addiction to oil is hurting consumers, undermining the economy,
exacerbating international conflicts, damaging the environment, and
threatening the health of the planet.”
Dr. Peter H. Diamandis, announcing
the
Automotive X-Prize
Chavez: Troops to Escort Oil Takeovers
AP
April 13, 2007
Pickens: Global Oil Production Capacity Has Hit Peak
York Dispatch/AP
March 1, 2007
Alternative energy sources will begin to
take a share of the energy market until the world evolves from a
hydrocarbon-based economy to "something that's a mix of hydrocarbons and
something else." Everything from nuclear, coal, wind, solar, hydrogen and
biofuels stands a chance to assuage growing demand for energy, Pickens said.
|
 |
RELEASED
CRUDE OIL
Uncertainty about Future Oil Supply Makes It
Important to Develop a Strategy for Addressing a Peak and Decline in Oil
Production
February 2007
United States Government
Accountability Office
Report of Congressional Requesters |
The prospect of a peak in oil
production presents problems of global proportion whose consequences will
depend critically on our preparedness.
The consequences would be most
dire if a peak occurred soon, without warning, and were followed by a
sharp decline in oil production because alternative energy sources,
particularly for transportation, are not yet available in large
quantities. Such a peak would require sharp reductions in oil
consumption, and the competition for increasingly scarce energy would
drive up prices, possibly to unprecedented levels, causing severe economic
damage. While these consequences would be felt globally,
the United States, as the largest
consumer of oil and one of the nations most heavily dependent on oil for
transportation, may be especially vulnerable among the
industrialized nations of the world.
....In the past, the private sector has responded to higher
oil prices by investing in alternatives, and it is doing so now.
Investment, however, is determined largely by price expectations, so
unless high oil prices are sustained, we cannot expect private investment
in alternatives to continue at current levels.
If a peak were anticipated, oil
prices would rise, signaling industry to increase efforts to develop
alternatives and consumers of energy to conserve and look for more
energy-efficient products. |
THE NEW HOME OF HALIBURTON
DUBAI - CENTER OF IRANIAN SEX SLAVE TRADE
|
THE US MILITARY IS THE "TIP OF THE
SWORD" IN
BIG ENERGY'S WAR AGAINST RENEWABLE ENERGY
DEFENSE DEPARTMENT CONTINUES TO STALL WIND POWER PROJECTS
Catherine Komp The New Standard
September 1, 2006

"In energy as in politics, power corrupts. Through
the ages, power has indeed corrupted those who produce it, those who
control it, and those who need it. Today our high-energy world teeters at
the brink. The gauge is edging toward empty, and as it does, the
political, environmental, medical, and economic cost continue to squeeze
humanity. The crisis is not new, but now it has become more urgent. This
time it is not money at stake--it is mankind.
"It has been impossible for the general public to wipe its
collective windshield clear enough to actually see the truth. But once the
haze is rubbed away--even a little--the world will peer into the past and
discover that to achieve clean energy independence and petropolitical
security we do not need to reinvent the wheel. We need to exhume that
wheel from whence it was deliberately buried by those who have diligently
worked to keep us focused on petroleum." -- Edwin Black, Internal
Combustion |
|
Public Must Demand Alternative Fuels
Edwin Black Centre Daily (PA)
September 9, 2006 |
In the absence of a government-launched Manhattan Project to ignite the
alternative fuel revolution, the public must turn not just to the White
House or the state house but also to the largest fleet owners in the
country.
Carmakers such as Honda, BMW and Toyota are waiting for only
one thing before they redirect their considerable resources away from
gasoline cars and toward hydrogen, electric, natural gas (CNG) or other
alternatively fueled vehicles. Those companies want tangible demand.
Fleets -- governmental, commercial and private -- have a compelling volume
purchasing power no automaker can ignore. |
Big Oil May Have to Get Even Bigger to Survive
Oliver Morgan The
Observer (UK)
October 29, 2006
Iraqi Leader Says International Oil Companies
Key to Raising Production
Jim Krane AP
September 10, 2006
A
Tank of Gas, a World of Trouble
Paul Salopek Chicago
Tribune (IL)
July 29, 2006
|
WHY WE FIGHT FOR OIL
THE WAR ON RENEWABLE
ENERGY -- AMERICA'S SHAME
-
Confidential Document on Iraq Oil Lobbying Commentary
James Paul Global Policy Forum
July 14, 2006
The
document reveals that, in private, the Coalition
governments were extremely interested in oil and that intense
negotiations were going on, even while the initial fighting was still
under way, to parcel out Iraq’s major oil fields. The main decisions
were being taken in Washington.
-
The Iraq Oil Bonanza: Estimating Future Profits
James A. Paul Global Policy Forum
January 28, 2004
In order to understand the magnitude of these profits, it is
useful to know that the worldwide profits of the world’s five largest
oil companies in 2002 were $35 billion. Our estimate of the “most
probable” annual profits in Iraq are $95 billion, three times this sum!
Total company profits in Iraq, over time, would be an enormously large
sum – ranging from a low of about $600 billion to a high of about $9
trillion.
-
ExxonMobil Accused of War Profiteering
Randy Hall CNS News
May 31, 2006
Activists from a
coalition of environmental and public interest groups Tuesday called on
ExxonMobil shareholders to clean up the corporation's "dirty practices."
Those practices, according to the activists, include conspiring with the
government to invade Iraq and then making $7 billion in "unearned profit"
from the war.
|
|
INVESTORS REVOLT AGAINST EXXON
"Shareholders deserve to
know if the companies they own are going down the prudent path -- adopting
environmental practices that will enable them to survive and thrive in a
world of increasing environmental concern and regulation - or whether they
are following a path that will damage both our environment and our bottom
line."
-- California State
Treasurer Phil Angelides |
Seventeen leading U.S. pension fund and other institutional investors
controlling $658 billion in assets are pushing for a face-to-face meeting
with independent members of the ExxonMobil board of directors as a result
of growing financial world concerns that ExxonMobil is "a company that
fails to acknowledge the potential for climate change to have a profound
impact on global energy markets, and which lags far behind its competitors
in developing a strategy to plan for and manage these impacts."
Pension fund trustees from seven states, New York City, and
eight other major institutional investors with over 110 million ExxonMobil
shares worth an estimated $6.75 billion made the request for the meeting
this week. All those seeking the action from Exxon Mobil are members of
the
Investor Network on Climate Risk. The group of 17 consists of
six state treasurers (Connecticut, California, Pennsylvania, Maryland,
Maine, Vermont), the California State Controller, the California Public
Employees' Retirement System (CalPERS), the New York State Comptroller,
New York City Comptroller, Evangelical Lutheran Church in America, General
Board of Pension and Health Benefits of the United Methodist Church,
International Brotherhood of Teamsters, Tri-State Coalition for
Responsible Investment, Walden Asset Management, The Nathan Cummings
Foundation, and the Sheet Metal Workers Pension Fund.
Greenbiz May 22, 2006 |
A Future Without Oil?
Elizabeth Douglass Los Angeles
Times April 16, 2006
Bush's Advanced Energy Initiative, which he promoted in a February tour of
research sites, would inject badly needed money into alternative-fuel
programs. Critics say the commitment is paltry. Bush's fiscal 2007 budget
seeks about $150 million for biofuels and $290 million for hydrogen-related
research. By comparison, the government spends an estimated $150 million
a day in Iraq. But proponents believe the decades of inertia could be
broken by a rare convergence of technology, money, political will and
motivated motorists.
EDITORIAL:
Quit Griping, and Make Changes
$3-a-gallon
gas isn't the problem;
dependence on fossil fuels is
News-Press (FL)
April 30, 2006
|
"Our society is in a state of
collective denial that has no precedent in history,
in terms of its scale and implications."
What
They Don't Want You to Know About the Coming Oil Crisis
The Independent (UK)
January 20, 2006 |
|
Soaring fuel prices, rumours of winter power
cuts, panic over the gas supply from Russia, abrupt changes to forecasts
of crude output... Is something sinister going on? Yes, says former oil
man
Jeremy Leggett, and it's time to face the fact that the
supplies we so depend on are going to run out. |
Shell’s Commitment to Alternative Energy
Royal Dutch Shell
February 2, 2006
Things Just Got Worse
Byron W. King
Energy Bulletin January
25, 2005
The news out of Kuwait highlights the point that most, if not all, of the
estimates published by member nations of the Organization of Petroleum Exporting
Countries (OPEC) are similarly without merit. In all likelihood, all of the OPEC
member nations have chronically overstated their reserves. The ominous
implication is that we are confronting the reality that the world has a lot less
oil than we thought and that a peak in global oil output must occur sooner than
even some of the most pessimistic predictions.
Iraq's Hot Properties
Andrew J. Grotto Bulletin of the
Atomic Scientists
Jan/Feb 2006
BP Forms Alternative Energy Division
David Cullen & Tom Bergen
Globe and Mail (ON)
November 29, 2005
BP may invest up to $8-billion (U.S.) in wind,
solar, hydrogen and high-efficiency gas-fired power generation projects over
the next 10 years amid growing concern over global warming.
Middle East Forum on Fuel Cells and Hydrogen Economy
Anne-Birte Stensgaard AME
Info November 29,
2005
"Katrina was our energy 9/11"
Matt Simmons
|
Todays Energy Reality:
We Are In A Deep Hole
IPAA 76th Annual Meeting, Houston, Texas October 25, 2005
Matthew R. Simmons, Chairman, Simmons & Company
International
REPRESENTATIVE ROSCOE G. BARTLETT,
MARYLAND 6TH DISTRICT, 2005 ENERGY CONFERENCE MONDAY, SEPTEMBER
26, 2005, 9:00 A.M. - 12:00 NOON FREDERICK COMMUNITY COLLEGE, FREDERICK, MARYLAND
PARTICIPANTS: DR. KENNETH DEFFEYES, MATTHEW SIMMONS, RICHARD HEINBERG, DONALD WULFINGHOFF,
JOHN SPEARS, JOHN HOWE
Transcript by: Federal News Service, Washington, D.C.
"Everyone keeps thinking there is
a (price) ceiling...
There is no ceiling."
Matt Simmons, Simmons
& Company International
Oil Guru Says Crude Could Hit $190 This Winter
MSNBC
October 19, 2005
The Inevitable Peaking of World
Oil Production
Robert L. Hirsch Atlantic Council of the United
States October
2005
The era of plentiful, low-cost petroleum is approaching an end. The good news is that
commercially viable mitigation options are ready for implementation. The bad news is that
unless mitigation is orchestrated on a timely basis, the economic damage to the world
economy will be dire and long-lasting. |
|

Pictures of the Death of Chevron's Typhoon Platform
“Early reports indicate numerous rigs are missing,
destroyed or have suffered serious damage and several companies have yet
to report. Rita may set an all-time record.”
Ken Sill, Credit Suisse First Boston
100 RIGS AND 8 PLATFORMS DESTROYED - CNBC 10/5/2005
Rita Causes Record Damage
to Oil Rigs
C. Hoyos, S. McNutty, T. Catan Financial Times
Sept 27, 2005
Hurricane Rita has caused more damage to
oil rigs than any other storm in history and will force companies to delay
drilling for oil in the US and as far away as the Middle East, initial
damage assessments show.
more |
|

 |
|
BIG MAP: Coastal Vulnerability with All Oil Platforms
The head of the Interior Department's Minerals Management
Service, Johnnie Burton, said two weeks ago that Katrina did not do as
much damage to offshore pipelines as Hurricane Ivan did a year earlier.
However, Burton's estimate turned out to be too optimistic, and the damage
is much worse.
Gulf Pipelines Hit Worse Than First Thought
Reuters Sept 29 2005
Crude oil and gasoline futures rebounded after reports that
refineries in Port Arthur and Beaumont, Texas, and Lake Charles, La., may
be shut longer than expected after being damaged by Hurricane Rita.
Futures Rise with Refinery Damage
Bloomberg Sept
27 2005
"We think the market's underestimating the natural gas impact
here," David Pursell, an energy analyst with Pickering Energy Partners in
Houston. Companies are usually building up the natural gas stockpiles at
this time of year to prepare for the winter, when daily use outstrips
daily production.
Storm's Punch at the Gulf Coast Has Aggravated the U.S. Energy
Crunch
David Ivanovich and Tom Fowler
Houston Chronicle Sept 27 2005
The Noble Therald Martin, Noble Paul Romano, Noble Amos Runner
and Noble Max Smith moved approximately 89 miles, 118 miles, 75 miles and
123 miles, respectively, off their original locations.
Noble Corporation Reports on Status of Offshore Units Following
Hurricane Rita
Noble Corporation
Sept 27 2005
As companies began to report the damage sustained from the
hurricane, offshore infrastructure appeared to be hit much harder than
onshore facilities, threatening to add to energy supply woes in the United
States, analysts said.
Rita Damages Chevron Platform, Several Rigs Missing
Reuters Sept 26
2005
Remington Oil and Gas Corporation announced today that two
offshore jackup drilling rigs under contract to the company are no longer
at their pre-storm locations.
Remington Oil & Gas Corp Reports on Missing Rigs Following
Hurricane Rita
Remington Oil & Gas
Sept 26 2005
An initial survey revealed that the Typhoon tension leg
platform, located about 165 miles south-southwest of New Orleans, was
severed from its mooring and suffered severe damage during the storm.
Chevron Regroups After
Rita TheStreet.com Sept 26
2005
GlobalSantaFe Corporation today reported that two of its
offshore oil and gas drilling rigs, the GSF Adriatic VII and GSF High
Island III, could not be found on their drilling locations during a search
by fixed-wing aircraft Sunday.
GlobalSantaFe Reports Two Jackup Rigs Missing After Hurricane Rita
GlobalSantaFe Corporation
Sept 26 2005
Rowan Companies, Inc. announced today that, in the aftermath of
Hurricane Rita, its jack-up rigs Rowan-Odessa and Rowan-Halifax were not
at their pre-storm locations. In addition, the hull of the jack-up
Rowan-Louisiana apparently detached from its legs and is aground offshore
Louisiana.
Rowan Reports on Offshore Fleet Following Hurricane
Rita
Rowan Companies Sept 26 2005
Offshore drilling company Rowan Cos. said Monday that an aerial
survey of its Gulf fleet shows that its Rowan-Fort Worth rig is missing in
the aftermath of Hurricane Rita, and two rigs have drifted from their
original locations.
Rowan Cos. Says One Rig Unaccounted For
Business Week
Sept 26 2005
Diamond Offshore Drilling, Inc. today reported that the drilling
rigs Ocean Saratoga and Ocean Star broke free from their moorings as
Hurricane Rita passed west of both semisubmersibles.
Diamond Offshore Reports on Status of Rigs Following
Hurricane Rita &n | |