Tuesday, November 16, 2010

Oil Drilling News


US offshore oil leasing could be delayed

US Government Could Cancel Gulf Of Mexico Lease Sale, Oil Groups Say

NOAA Reopens More Than 8,000 Square Miles in the Gulf of Mexico to Fishing

Here's the latest map showing the opened area and the remaining closed area.


Oil Spill Prevention and Response in the U.S. Arctic Ocean - Unexamined Risks, Unacceptable Consequences


Oil will run out 100 years before new fuels developed: study

"But all is not doom and gloom, says the study. 

On the oil supply side, consumption could well decrease in future as more energy-saving measures are introduced and used by consumers, and new oil reserves could become available as extraction techniques improve. 

On the alternative fuel side of the equation, the study did not look at nonprofits, government agencies and universities which are developing new fuels, because they are not quoted on the stock market. 

And if governments announced new policy initiatives to promote alternative fuel development, share prices of alternative energy companies would rise, and the gap between the end of oil and the kick-in of alternative fuels would shrink."

Oil demand to decline in the west, according to International Energy Agency
"If governments put in place the energy and climate policies to which they have committed themselves, then our analysis suggests that crude oil production has probably already peaked. [...] Living with less oil tomorrow is no longer an idea of those on the fringe - the International Energy Agency now says that is the reality for most of the developed world."