Word: petroleum
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...weekend they released new findings in line with the Interior Ministry's claim that the official cause of death was head wounds sustained when Bhutto fell. The reversal has many people suspecting government interference. Says Chaudhry Nisar Ali Khan, an opposition member of the National Assembly and a former petroleum minister: "The government says it was the work of terrorists and they say someone has claimed responsibility. What I don't understand is why they keep changing the story of how Bhutto died? Why do that? These summersaults make everything look suspicious...
...recommendations in PCAP are radical, but not new: cut petroleum use in half by 2020, achieve average fuel economy of 50 mpg, shift the federal government to carbon neutrality. But what makes PCAP particularly impressive is the way it turns the question of climate change away from saving the planet, and toward saving the country. Global warming is too important to be left to the environmentalists - it's a national security issue, an economic issue, even a moral issue. That's the kind of language that can appeal not only to traditional greens but to Republicans, and make climate change...
...nears a once unthinkable $100 a bbl., Chávez can afford to delay costly drilling and refining expansions like Paraguaná's and spend that money on socialist programs and other political pursuits. In a bravado performance at a Nov. 18 meeting of the Organization of Petroleum Exporting Countries (OPEC), Chávez and his new best friend, Iranian President Mahmoud Ahmadinejad, mocked the U.S. and blamed the weak dollar, not Venezuelan production capacity, for the high price of oil. "The fall of the dollar is not the fall of the dollar," Chávez crowed. "It's the fall of the American...
...production has peaked and is about to start declining sharply--the view of the true peakists. In "peak lite," as some call it, the big issues are not so much geological as political, technical, financial and even human-resource-related (the world apparently suffers from a dearth of qualified petroleum engineers). These factors all delay the arrival of oil on the market, meaning that production would not so much peak as plateau. But with demand rising sharply, especially from China and India, even a plateau could be precarious...
...unconventional deposits. The problem is that most of this oil is hard to extract and even harder to refine, and it isn't likely to account for a significant share of global production anytime soon. Almost everybody agrees that the pumping of conventionally sourced oil outside the Organization of Petroleum Exporting Countries (OPEC) has already peaked or will peak soon, a reality that even discoveries like the recent 8 billion-bbl. find off the coast of Brazil can't alter because production from so many existing fields is declining...