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Topic: Oil crisis

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Energy crisis

Hubbert peak

Standard Oil Trust

1973 energy crisis

Arab Oil Embargo

Future energy development

Petroleum

Think Big

Organization of Petroleum Exporting Countries

OPEC

Seven Sisters (oil companies)

1979 energy crisis

North Sea oil

Renewable energy

Economy car

	Peak Oil News & Discussion
		As the interaction between oil production and a hurricane is unknowable until a few days before it strikes, there is not much useful to be said other than that the oil companies are working hard to mitigate damage from future hurricane strikes in the Gulf and forecasters are predicting a banner year.
		To extract oil from 20,000 feet below the surface, where the pressures run to 20,000 pounds per square inch (psi) and the temperature of the oil is in the order of 200 degrees centigrade, is going to be a major technical challenge.
		Oil discoveries plummeted to 5 billion barrels in 2005 from 90 billion barrels in 1964, according to Campbell.
	www.longemergency.blogspot.com (10658 words)

	1973 oil crisis - Wikipedia, the free encyclopedia
		At the height of the crisis in the United States, drivers of vehicles with odd numbered license plates were allowed to purchase gasoline only on odd-numbered days of the month, while drivers with even-numbers were limited to even-numbered days.
		The crisis was further exacerbated by government price controls in the United States, which limited the price of "old oil" (that already discovered) while allowing newly discovered oil to be sold at a higher price, resulting in a withdrawal of old oil from the market and artificial scarcity.
		The 1973 oil crisis was a major factor in Japanese economy shift away from oil-intensive industries and resulted in huge Japanese investments in industries like electronics.
	en.wikipedia.org /wiki/1973_energy_crisis (4185 words)

	Peak Oil Primer \| EnergyBulletin.net \| Peak Oil News Clearinghouse
		Oil is a finite, non-renewable resource, one that has powered phenomenal economic and population growth over the last century and a half.
		Of the 65 largest oil producing countries in the world, up to 54 have past their peak of production and are now in decline, including the USA (in 1970/71) and the North Sea (in 2001).
		Many of the official sources of data used to model oil peak such as OPEC figures, oil company reports, and the USGS discovery projections, upon which the international energy agencies base their own reports, can be shown to be very unreliable.
	www.energybulletin.net /primer.php (2456 words)

	Oil crisis
		Oil underlies everything and the boom of the 1990's was not because of the 'New Economy' or some new way of doing things, nor was it due to the savvy of the smart young things in the dot.coms.
		An enthusiastic article about oil shale in the prestigious Fortune magazine is titled: "Shale Oil is Braced for Big Role." It concludes, "Shale oil is not the whole answer to the energy problem but it's one of the few pieces that is already within the nation's grasp."(l9) The article was written in 1979.
		Furthermore, the "oil" (and, it is not oil as is crude oil, but this is not stated) may be recoverable but the net energy recovered may not equal the energy used to recover it.
	home.entouch.net /dmd/Future_oil_supply.htm (8884 words)

	What "Oil Crisis"? by Thomas Sowell -- Capitalism Magazine (Site not responding. Last check: 2007-10-19)
		With oil prices passing the record-breaking $60 a barrel level and heading even higher, the word "crisis" is now being used and all sorts of political "solutions" are being proposed.
		One of the dictionary definitions of a crisis is "the point in the course of a serious disease at which a decisive change occurs, leading either to recovery or to death." Is that where we are when it comes to oil?
		In political semantics, the word "crisis" has come to mean any situation that someone wants to use to justify doing something that will be called a "solution." Crises are a dime a dozen by political and media definitions.
	www.capmag.com /article.asp?ID=4376 (829 words)

	1973 Oil Crisis
		In order to understand the main cause of the oil crisis one must first know the history of the region and the Arab-Israeli conflict.
		Nixon, who was president at that time, ordered the department of defense to create a stockpile of oil in case the country needed the military to carry it through a time of chaos.
		Oil heat was slowly replaced by electric heat.
	www.ccds.charlotte.nc.us /History/MidEast/04/horton/horton.htm (1472 words)

	70's
		Therefore, oil prices skyrocketed, the term “Mideast Oil Crisis” was born, and the effects gained momentum.
		It is important to emphasize that the energy crisis in the United States cannot be explained simply as the result of the political alliances.
		The 1973 oil crisis did not wholly cause the energy crisis, though it is important to understand its impact and its catalyzing component.
	cr.middlebury.edu /es/altenergylife/70's.htm (1546 words)

	<< CounterCurrents.org >>
		That is not to say that oil would not be beneficial to their country as it could give them the energy to fuel farm machinery, irrigate land, transport crops and make them self-sufficient in feeding their population.
		The signs of an oil crisis are already here in the UK, in Europe and also in the US, even if is still too inaudible to be heard as a serious warning by the general public.
		The oil crisis gets louder – listen to it, talk about it, prepare for it – it is out there, the tide is rising and rushing towards us.
	www.countercurrents.org /po-howard050905.htm (2769 words)

	What "Oil Crisis", Part 2 by Thomas Sowell -- Capitalism Magazine (Site not responding. Last check: 2007-10-19)
		The high cost of extracting and processing oil ensures that not even half of the oil in a known pool of oil will be brought to the surface and sent off to the refineries.
		That is because the cost of extracting and processing oil from a given pool tends to increase as you drain from deeper into that pool.
		That is why the word "crisis" gets used so much, and not just about oil, in order to soften us up for their taking over our lives.
	www.capmag.com /article.asp?ID=4381 (951 words)

	The Unofficial Paul Krugman Web Page
		The point is that it would not take much worsening in the political situation to produce markets so tight that the logic of market power kicks in and countries decide that, quite aside from politics, their financial interest lies in reducing, not increasing, their output.
		After the oil crises of the 1970's, Western economies sharply increased their energy efficiency: the U.S. economy was a third bigger in 1985 than it was in 1973, but it consumed less oil.
		Each $10-per-barrel increase in the price of oil is like a $70 billion tax increase, one that falls most heavily on middle- and lower-income families.
	www.pkarchive.org /column/040902.html (751 words)

	End of Cheap Oil @ National Geographic Magazine (Site not responding. Last check: 2007-10-19)
		While oil demand is up everywhere, the U.S. remains the king of consumers, slurping up a quarter of the world's oil—about three gallons a person every day—even though it has just 5 percent of the population.
		But in the end the quest for more cheap oil will prove a losing game: Not just because oil consumption imposes severe costs on the environment, health, and taxpayers, but also because the world's oil addiction is hastening a day of reckoning.
		Founder Colin Campbell is one of the strongest voices on the subject of oil depletion.
	magma.nationalgeographic.com /ngm/0406/feature5 (1552 words)

	The Hubbert Peak for World Oil
		Additionally, oil reserves can be used as collateral for loans - an example of this is the $50 Billion loan from the USA to Mexico: in December 1994, the Mexican Peso fell by around 35%.
		This counters the argument, often put forward by oil companies, that improvements in technology will prolong the lifetime of our oil resources: the cost of oil produced by these as yet uninvented technologies is likely to be astronomical by today’s standards.
		This does not mean that the world is running out of oil: it means that we are running out of the cheap pumpable oil that has fueled the economic development of the 20th Century.
	www.hubbertpeak.com /summary.htm (1527 words)

	The Great Depression was fun, here's... Peak Oil! (Site not responding. Last check: 2007-10-19)
		As we write this, the US has conquered the oil well called Iraq and the oil price is at an all time high of over 40 dollars per barrel.
		Peak-a-boo: The Oil Peak according to a recent prognosis of the Association for the Study of Peak Oil.
		South-America and Africa are very vulnerable to an oil crisis too, because their economies are weak as they are already.
	www.exitmundi.nl /oilcrash.htm (2637 words)

	The Standard - Fueling an 'oil crisis' - Opinion Section
		That is no solace to private car owners who, in recent years, have begun to enjoy the privileges and pleasures of driving their own vehicles.
		Whatever, it is certainly convenient for the two state-owned oil giants, Sinopec and PetroChina, the duopoly that has a stranglehold on the retail market.
		The crisis climaxed early last week, when even many of the stations run by the duopoly began to run short.
	www.thestandard.com.hk /stdn/std/Opinion/GH22Df01.html (936 words)

	Home Page
		It was an era when we suffered a terrible oil crisis (1978).
		We are talking here not just of an energy crisis lurking (planning on attacking us in the very near future), but there is also a huge issue of a green Planet in distress, and the waters of the ocean are rising and will be flooding thousands of square miles of lowlands.
		Both crisis are going to affect all of us to some extent, but it is going to be life-and-death reality for many millions of people around the globe.
	www.elcongresista.us (1208 words)

	Oil Prices News - Energy Industry Today
		Crude oil futures traders work on the floor of...
		Oil prices ease in Asia after strong US stockpiles report Singapore, Oct 18: Oil prices eased...
		Oil prices have surged on both sides of the Atlantic to yet new record highs putting...
	energy.einnews.com /news/oil-prices (1582 words)

	Catalyst: Real Oil Crisis - ABC TV Science
		I talk to people in financial institutions who are investing on the assumption that oil supplies are going to grow and grow into the 2030’s.
		That’s the point at which we will no longer be living in a world with growing supplies of generally cheap oil but instead living in a world of rapidly shrinking supplies of ever vastly more expensive oil and that point of realisation is going to come as a real shock.
		Fifty percent of the people in the audience put up their hand saying that they believe we’re at peak oil and these are practicing petroleum industry professionals.
	www.abc.net.au /catalyst/stories/s1515141.htm (1789 words)

	FSO Editorials: Oil Crisis Down Under by Bill Powers 02/03/2005
		While it is difficult to pinpoint the reason for the nearly 40% decline in Australia’s oil production over the last four years, I believe the country has been a victim of both Hubbert’s Peak and poor government policy.
		First, oil discovery in Australia was very concentrated in a few fields (over half of the country’s reserves are concentrated in a handful of fields) and several of the country’s biggest fields were discovered nearly simultaneously.
		A final explanation for Australia’s oil production retreat, may be the simple fact that there might not be that much oil left to find.
	www.financialsense.com /editorials/powers/2005/0203.html (1195 words)

	Energy Information Administration
		A year of bad news was punctuated in December, when the President announced that because of the energy crisis the lights on the national Christmas tree would not be turned on.
		The purpose of this presentation is not to assess the causes of the 1973 energy crisis or the measures that were adopted to resolve it.
		After the oil price collapse of the mid-1980's, however, prices retreated to more moderate levels, the pace of efficiency gains slowed, American oil production fell, and the share of imports rose.
	www.eia.doe.gov /emeu/25opec/anniversary.html (560 words)

	Frederick P. Leuffer on Oil Refinery Utilization Rates on NRO Financial
		Since the oil workers’ strike began on December 2, roughly 67 million barrels of Venezuelan crude imports to the U.S. have been lost.
		It takes approximately six weeks for crude tankers from the Middle East to reach the U.S. The answer is that the oil is not coming from the Middle East, but from stockpiles in the Caribbean, where the Saudis own storage terminals.
		Although little data is available on the role these storage facilities are playing in supplying the U.S. market today, it looks to be significant.
	www.nationalreview.com /nrof_leuffer/leuffer012703.asp (604 words)

	LookHoustontexas
		Oil Drilling - Learn how this rich natural resource came to be--and still is--Houston's greatest asset.
		1973 Oil Crisis, Center Point Energy, Houston Oil Fields, Howard Hughes Sr.
		Braves lose focus: Faith Nights hit snag after major-league debut.
	www.lookhoustontexas.us (284 words)

	CNNMoney.com: Oil crunch
		Politicians propose legislation that would increase regulatory scrutiny of Big Oil - but fail to mention that voters could maybe give up the giant SUVs.
		Average cost for a gallon of regular will be 25 cents higher than last year, U.S. says; strong driving season expected.
		Oil over $70 seen as average by year's end
	money.cnn.com /news/specials/gasprices (362 words)

	Roubini Global Economics (RGE) Monitor
		Nouriel Roubini's Blog: Why Oil at $70 Would Have Serious Negative Effects on U.S. and Global Economic Growth
		Why Oil at $70 Would Have Serious Negative Effects on U.S. and Global Economic Growth
		Abridged Roubini on oil at $70 -- and not-so-abridged Setser on Petrodollars
	www.rgemonitor.com /118 (467 words)

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