• 2 days PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 2 days Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 3 days Syrian Rebels Relinquish Control Of Major Gas Field
  • 3 days Schlumberger Warns Of Moderating Investment In North America
  • 3 days Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 3 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 3 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 3 days New Video Game Targets Oil Infrastructure
  • 3 days Shell Restarts Bonny Light Exports
  • 3 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 3 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 3 days British Utility Companies Brace For Major Reforms
  • 4 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 4 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 4 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 4 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 4 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 4 days Rosneft Signs $400M Deal With Kurdistan
  • 4 days Kinder Morgan Warns About Trans Mountain Delays
  • 4 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 4 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 5 days Russia, Saudis Team Up To Boost Fracking Tech
  • 5 days Conflicting News Spurs Doubt On Aramco IPO
  • 5 days Exxon Starts Production At New Refinery In Texas
  • 5 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 6 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 6 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 6 days China To Take 5% Of Rosneft’s Output In New Deal
  • 6 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 6 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 6 days VW Fails To Secure Critical Commodity For EVs
  • 6 days Enbridge Pipeline Expansion Finally Approved
  • 6 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 6 days OPEC Oil Deal Compliance Falls To 86%
  • 7 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 7 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 7 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 7 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 7 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 7 days Aramco Says No Plans To Shelve IPO
Alt Text

OPEC Favors 9-Month Extension Of Production Cut Agreement

According to Reuters sources, OPEC…

Alt Text

Major Oil Traders See Upside For Oil Prices

The world’s oil trading majors…

Our Pathway To Escaping the Oncoming Energy Crisis!

Our Pathway To Escaping the Oncoming Energy Crisis!

We are in the midst of an ever increasing, world-wide energy crisis. According to most respected analysts within the energy industry, the critical outcome of this brewing energy cataclysm could easily dwarf all previous power shortages.

Our inability or unwillingness to deal effectively with this fact could potentially bring world-wide business and with it; civilization as we know it, to a screeching halt. Sadly, many people aren’t exactly sure what it is that they can do about these circumstances, as they have been inadvertently confused by two extreme, polar opposite positions that are going these days!

Half of the people out there truly believe that “Happy Days Are Here Again” and that we have already successfully weathered the storm and it will be smooth sailing now that oil is back down to around $40 a barrel having recently reached a peak of $150 a barrel. Meanwhile, the other half seem seriously so desperately panicked that things are far beyond hope and the proverbial “sky is falling!”

Luckily for all of us, the reality of the situations is somewhere safely in the middle of those two extreme views! There is a way to safely navigate toward a positive and profitable, energy future, we simply need to more wisely adhere to tremendous changes that have occurred within the environment and adjust our maps accordingly.

So what have we learned from the cause and effect processes behind the recent oil price “spike and plummet” phases? Most importantly, we have learned that under an “energy economy” based primarily on oil, which is the absolute reality of our lives is for the next 15 to 30 years, we all need to learn to more effectively utilize what we currently have available now, while making wise choices about our energy plans for the future.

Here’s where we stand at the moment! Our current “mix” of energy sources as of today is as follows: 36% of our energy needs are met by oil, 28% by coal, 24% by natural gas, 6% by nuclear power, another 6% by hydro-power and a mere, mind-numbing 1% of our energy needs are actually supplied by the use of "renewables!"

This means that amid all of the well orchestrated hype about companies running “GREEN,” the truth is, thus far, the effect of this current push to more regularly rely upon renewable sources is actually quite miniscule at best!

Meanwhile, as most people around the globe strongly oppose nuclear and coal options for health and security reasons, “alternative energy sources” have dramatically let us down and left us hanging high and dry!

Decades of natural gas conversion has only led to supplying ¼ of the energy we need! While hydro-power, which has now been around for centuries, even long before the use of crude oil, still is only capable of supplying 6% of our energy needs.

After more than 40 years of scientists, universities, conservationists and governments investing billions in research and development while strongly pushing the envelope and agenda for the effective utilization of what they call “renewables,” the tangible fruit of these efforts is minimal at best and highly disappointing.

Wind power provides us only 1 out of 100 units of desperately needed energy. Research for utilizing hydrogen shows tremendous potential promise, but it’s still at least 20 to 30 years away. So while ethanol, natural gas, hydro-electric power and other various forms of “renewables” are worthy of our pursuit, we need to reevaluate our perspectives regarding oil!

Clearly; logic and reason dictate that we become much wiser about our usage of our ever diminishing oil supplies. Any “Mad-Scientist” that claims energy source besides oil will be our primary form of reliable energy within our lifetime is deranged, delusional and / or deceitful.

It is unlikely that anyone currently in business will live long enough to personally see the day when alternative energy sources finally pan out and pay off, carrying the burdensome bulk of our ever increasing energy needs!

Only our effective and intelligent utilization of oil can possibly deliver us to that better, safer, cleaner world of the future that we all dream of creating. The good news is - it’s completely up to US!




Back to homepage


Leave a comment
  • Anonymous on April 18 2010 said:
    Watch the documentary Zeigeist the addendum. It can look utopian but,at the beginning automobiles and planes also cost a fortune to develop.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News