Tag Archives: barrels


Oil and Politics in Iraq

A delegation from the International Energy Agency spent two days in Baghdad speaking with high-ranking officials in preparation for an end-of-year report on the country’s oil sector. By some estimates, Iraq could hold some of the largest oil reserves in the world and an international auction for oil and natural gas blocks is planned for


$8 Gas: Inevitable?

With oil prices remaining stubbornly above the $100 per barrel mark for WTIC, calls for $6 gas in the U.S. as a consequence of an attack on Iran may turn out to be a rather conservative, maybe even a low-ball estimate. According to Bloomberg, the average price paid at the pump has recently jumped above


Primus Green Energy: High-Octane Bio-Gas

As oil prices soar, the exploration of alternative fuel sources continues. Primus Green Energy, based in Hillsborough, New Jersey, has created a high quality, 93-octane bio-gasoline at a price that will be both competitive and profitable once production is scaled up. According to Dr. George Boyajian, Primus Green Energy’s VP of Business Development, the company


The New Price of Oil

In the Spring of 2011, when Libyan oil production — over 1 million barrels a day (mpd) — was suddenly taken offline, the world received its first real-time test of the global pricing system for oil since the crash lows of 2009. Oil prices, already at the $85 level for WTIC, bolted above $100, and


In Focus: Oil Tar Sands

Last week, OpenEI focused on the issues related to fracking. We showed both the potential gains and pitfalls of continued fracking policy in the United States. Another hot issue in the United States and internationally are oil sands, or tar sands. The epicenter of this issue resides in Alberta, Canada, in the Athabasca river basin.


Snake Oil

“Our children will enjoy in their homes electrical energy too cheap to meter,” predicted Lewis Strauss, Chair of the US Atomic Energy Commission in 1954. The fusion power that inspired his comment remains only experimental to this day, and the best guess is that commercial fusion generation facilities will not be online before 2050. An


In Focus: Fracking

Fracking has been a hot topic in the United Statesin recent years, but did you know that the concept of fracking has actually been around for several decades? Read on to find out all you need to know about fracking. Hydraulic fractures form naturally in rock layers, caused by the presence of high-pressure fluids that


The Future of Global Oil Production

Since 2005, European oil consumption has fallen by 1.5 million barrels a day. And, in the same period, US oil consumption has fallen by 2 million barrels a day. If oil was priced at $60 a barrel, rather than $100 a barrel, then a fair portion of that lost demand might return. Instead, since 2005,


Shale Gas and Oil: Bubble Building?

In recent years, we’ve seen what happens when gigantic speculative “bubbles” build up, whether in the high tech sector or in the housing market. Eventually, the bubble bursts, and a lot of people get hurt in the process. Now, an article in Bloomberg is raising the possibility of a similar phenomenon occurring with oil and


In Focus: Non-OPEC Supply

In 2002 Non-OPEC oil production contributed 60.75% of the world’s total oil supply. But technology, competition, and access to capital through listings on stock exchanges have not been able to overcome limits of geology. Global giants such as Royal Dutch Shell and Exxon Mobil have essentially abandoned the effort to meaningfully expand their oil reserves.