Group items tagged

Drawing parallels with the current financial meltdown, Matthew Simmons, the CEO of Simmons & Company International, expresses his alarm about gasoline stocks being the lowest in several decades and refinery production down following recent hurricanes. He warns that if there were a run on the "energy bank" by everyone topping off their gasoline tanks, the U.S. would be out of fuel in three days, and grocery shelves largely emptied in a week. In an interview plus excerpts from his presentation at the Association for the Study of Peak Oil (ASPO-USA) conference on September 22, 2008, Matt highlights the risks and vulnerabilities in the finished oil products system, and answers audience questions.

The agency said personnel have been evacuated from a total of 223 production platforms, equivalent to 31.1% of the 717 manned platforms in the Gulf of Mexico. Most of the major producers, including the two largest - Royal Dutch Shell PLC (RDSA) and BP PLC (BP) have announced a total halt to offshore operations ahead of Gustav's arrival in the region. Others, including Chevron Corp. (CVX), have partially cut production linked to platforms shut down by other producers.

WASHINGTON (MarketWatch) -- The price of retail gasoline could fall by half, to around $2 a gallon, within 30 days of passage of a law to limit speculation in energy-futures markets, four energy analysts told Congress on Monday. Testifying to the House Energy and Commerce Committee, Michael Masters of Masters Capital Management said that the price of oil would quickly drop closer to its marginal cost of around $65 to $75 a barrel, about half the current $135

Bob Hirsch talking "Worst Case Scenarios" for Oil...as in "maybe $500/bbl" in the next few years...with increasing uncertainty/volatility (yes, that's right, oil could snap back down to $100/bbl, but then snap back up even higher again in a few months...without even considering geopolitics and other "above ground factors," which of course we must.)

It should be a truly fascinating - albeit possibly enormously grim - thing to watch, one of the more dramatic and revolutionary market-driven shifts in modern history, upheaving everything we've become so accustomed to and changing behaviors and attitudes and alliances and political agendas and ass-girths and no I'm not talking about the "Lost" finale or the new 3G iPhone or how Brangelina's twins are a sure sign of the Second Coming.

Forget $4 per gallon for gasoline--let's talk about how things will be--or could be--when it's $25/gallon and strictly rationed: 5 gallons per household per month. I don't mean to trigger a cardiac arrest, but here is a serious, experienced analyst foreseeing $450/barrel oil. At about 28 gallons of distillate (gasoline, jet fuel, diesel, etc.) per barrel, that's $16/gallon without refining, shipping, taxes and retailing expenses. So let's just call it $25 per gallon.

Bryan Carisone, a heating and air-conditioning contractor in Raritan, N.J., "absolutely loves" his new GMC Denali XL, an extra-large sport utility vehicle with televisions built into the leather seats. But in June, one week after he bought it, he pulled into a station on a near-empty tank and watched the total climb higher and higher - to $109.

Secretary of Energy Samuel W. Bodman and Secretary of Agriculture Edward T. Schafer sent a letter on June 11, 2008 to Senator Jeff Bingaman addressing a number of questions related to biofuels, food, and gasoline and diesel prices. Read the letter.

"Contrary to conventional wisdom among Russian energy leadership, Russia can meet the power needs not only of its own country but those of Europe without driving up its carbon footprint, a new study from the US-based German Marshall Fund asserts. Charles Digges, 23/03-2010 The report comes on the heels of an announcement by Russian President Dmitry Medvedev last week that Russia would remain committed to developing clean and green energy technologies, and called for the country's long languishing Climate Doctrine to be implemented. "