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Rumsfeld Memoirs
"The proceeds will be donated to a not-for-profit foundation he set up to fund global microfinance efforts... and build links between America and central Asia."
What sort of links? Leading to what sort of collaboration?
Organic Consumers' Association
Oil spikes to record $117.40 after Mideast attack on Japanese tanker and Nigerian pipelines
ReplyDeletehttp://biz.yahoo.com/ap/080421/oil_prices.html
Oil prices spiked to a record $117.40 a barrel after a Japanese oil tanker was hit by a rocket near Yemen and militants in Nigeria claimed two attacks on pipelines.
The 150,000-ton tanker Takayama was attacked about 270 miles off the east coast Yemen coast in the Gulf of Aden while it was heading for Saudi Arabia, its Japanese operator, Nippon Yusen K.K., said in a statement.
None of the ship's 23 crew members was injured. Hundreds of gallons of fuel leaked before a 1-inch hole in the tanker's stern was repaired, the company said.
Kyodo News agency reported that the Japanese tanker was fired on by a rocket launcher from a small boat.
"There's clearly some geopolitical tension in the market," said Mark Pervan, senior commodity strategist at the ANZ Bank in Melbourne, Australia. "This will die down, but the market is pretty jittery at the moment."
Adding to the worries were claims Monday from the main militant group in Nigeria's restive south that it had launched two more attacks on oil pipelines in the region. There was no immediate confirmation.
Mexican oil output falls 7.8 pct in first quarter
ReplyDeletehttp://www.businessweek.com/ap/financialnews/D906ENVG3.htm
Mexico's state-run oil company said Monday that oil production fell 7.8 percent to 2.91 million barrels a day in the first quarter as current reserves dwindle.
Petroleos Mexicanos, or Pemex, has struggled with falling reserves, especially at its main Cantarell oil field, and lacks the money and expertise to launch new drilling projects. Pemex only has enough proven oil reserves to last nine years at current production rates.
Pemex also said Monday that oil exports had dropped 12.5 percent in the first quarter, mostly due to falling production and port closures caused by bad weather in February.
The company did boost natural gas production to a record 6.6 billion cubic feet of gas per day in the first quarter, up 13.2 percent over the same period last year.
Saudi King's Quiet Bombshell
ReplyDeletehttp://www.evworld.com/article.cfm?storyid=1436
Eight oil industry experts give their views on King Abdullah's 'keep 'em capped' announcement
On April 13, Reuters reported the following from Riyadh:
Saudi Arabia's King Abdullah said he had ordered some new oil discoveries left untapped to preserve oil wealth in the world's top exporter for future generations…
"When there were some new finds, I told them, 'no, leave it in the ground, with grace from god, our children need it'," King Abdullah said…
Saudi production capacity stands at around 11.3 million bpd, and is scheduled to rise to 12.5 million bpd next year.
The King's remarks seem to confirm a statement made last year by Saudi oil minister Ali al-Naimi who, when asked "How high can your production go?" replied, "We'll get to 12.5 million barrels a day and then we'll see."
If the Saudi announcement was a bombshell, American nearly newspapers ignored it. We decided to canvass experts we respect to see what they thought.
$120 oil...and good gardening blogs anybody?
ReplyDeleteChina down to 12 days of coal stocks
ReplyDeletehttp://environment.newscientist.com/article/dn13765-china-down-to-12-days-of-coal-stocks.html
Coal. Gasoline. Jet fuel. It seems like there's one energy panic after another these days. And now food is on the list. Not good. Personally, I predicted that the global food crisis would start about 2010. Obviously, I was a whole two years too late. Not only that, the situation has started deteriorating faster than I expected.