Editorial: Best energy choices
It’s at about this point in a market cycle that public trust in markets begins to fade.
Hubbert’s model: uses, meanings, and limits-2
The mathematical model of M.K. Hubbert successfully predicted the peak of oil production in the US even though the logistic growth curve on which it is based cannot account for the physical, political, and economic factors that govern actual production.
Price-supply curve explains US production below 1970s’ peaks
Even with much higher prices, neither US oil nor gas production has ever exceeded the peaks attained in the early 1970s.
COMMENT: US should reconsider fuel ethanol’s excise tax exemption
As the US Senate takes up comprehensive energy legislation, it has an opportunity to fix an increasingly wasteful tax incentive that has directly increased the prices and profits enjoyed by energy producers in times of tight supply.
EPA denies state requests for oxygenate waivers
The US Environmental Protection Agency June 2 denied requests by California, New York, and Connecticut for waivers from the 2 wt % oxygen content requirement for reformulated gasoline.
Study notes exploration successes, disappointments
Energy consultant Wood Mackenzie Ltd. rated the biggest exploration successes in absolute terms during the last 10 years as Kazakhstan, the deepwater Gulf of Mexico, Angola, and Nigeria.
Bolivian president resigns; gas work slows
Companies were putting major gas projects on hold in Bolivia June 6 as the country’s president, under pressure to nationalize the oil and gas industry, offered again to resign.
Five more blocks awarded in Nigeria-Sao Tome JDZ
The Nigeria-Sao Tome and Principe Joint Development Authority in Abuja approved the award of five more blocks in the Joint Development Zone in the Gulf of Guinea.
Work planned on first part of Taishet-Nakhodka line
The first section of Russia’s proposed Taishet-Nakhodka pipeline will be laid in 2008, and two oil companies-Surgutneftegaz and OAO Yukos-will provide the crude oil to fill it, according to Russian Minister of Industry and Energy Viktor Khristenko.
Watching the World: A pipeline stage issue
Transneft CEO Semen Vainshtok is sure that the proposed Eastern Siberia-Pacific oil pipeline will have enough oil to become commercially viable.