Posted August 21, 2006
A few days ago the International Energy Agency (IEA) -- a Paris-based institute that acts as an energy policy advisor to 26 countries worldwide -- leveled out their outlook for global oil demand growth for this year. The organization estimated that when everything is all said and done, global demand will have only averaged 84.78 million barrels a day (MMbbls/d) in 2006.
Posted August 9, 2006
Believe it or not... One oil field accounts for 6.25% of the world's daily global production -- about 5 million barrels a day...
Posted August 8, 2006
Maybe somebody ought to give the fellas over at British Petroleum (BP) Neil Young's phone number. Had they only known that rust never sleeps, we might have avoided the market shock that sent oil prices to record levels on Monday.
Posted August 1, 2006
OPEC is the true 800-pound gorilla of the oil game. The cartel is officially estimated to control over 887 billion barrels of proved oil reserves -- supposedly two-thirds of the world's remaining proven supplies. But while these reserves seem massive, you have to realize one very important fact...
Posted June 15, 2006
My oil world expanded about five years ago. I sat in a solarium just off the food court at the University of Kansas student union, talking with two men who said they were from Turkey and Azerbaijan, respectively. They wore suits, unlike most of the foreign students I conversed with. When I asked why, they told me, "We are petrochemical engineers, and we're here because we need help building a pipeline."
Posted April 28, 2006
Though I wasn't in Scotland anymore, the man next to me on the train was Scottish.
Posted January 31, 2006
With the coal and natural gas markets booming, land disputes between the two industries are heating up.