Barron’s magazine interviews highly-followed Goldman oil strategist Arjun Murti, who predicted the current oil “super spike” in 2004. He sees the climb peaking somewhere between $150 and $200 — which could mean $5.75 gasoline.
Posts on ‘June 8th, 2008’
We’ve all heard about the alleged sins of Big Oil, the handy media-made pejorative for the world’s largest oil and gasoline manufacturers: It controls/manipulates the world energy market. Its six “supermajors” — multinationals like ExxonMobil, Royal Dutch Shell, BP, Chevron — are exceptionally evil and rapacious corporations that are responsible for skyrocketing oil and gasoline prices. They are uniquely and grossly profitable. They deserve to have their “excess” profits taxed and their robber-baron bosses scolded – if not publicly waterboarded — by Congress.
It accused Shell of repatriating huge profits from its oil exploration and exploitation and paying fantastic salaries to its expatriate staff at the expense of Nigerians.
Are “fundamentals” – supply and demand – keeping the price of oil so high? Or is it those nasty “speculators”?
The North Sea is set for a second oil boom as record prices open up reserves previously regarded as too expensive to exploit. Aberdeen is set to be the new Dallas as the second North Sea oil boom gets underway.
A $776 million investment in Queensland’s coal seam gas reserves by Royal Dutch Shell is tipped to attract more international investment in the sector.
Fuel protesters blockade refinery Sunday 8 June 2008 Fuel protesters formed a human blockade in order to prevent tankers from leaving an oil refinery. It was the second blockade of Shell’s Stanlow refinery in Cheshire in the last five weeks. About 500 people gathered outside the refinery during Friday, with numbers dwindling to about 100 [...]
Dutch Shell chief executive officer Jeroen van der Veer gave an interview to RIA Novosti ahead of his participation in the St. Petersburg International Economic Forum
“We want to take the time to make sure we get everything right,” he said. “(Shell’s received) a lot of input from the government, the First Nations groups and community members, and we want to make sure the environment will come out as a winner.”
Royal Dutch Shell Plc and OAO Gazprom, Russia’s gas exporter, signed a preliminary agreement to study liquefied natural gas projects on the Yamal peninsula in Russia’s far north. The companies may also consider LNG projects in third countries, Shell Chief Executive Officer Jeroen van der Veer said in an interview at the St. Petersburg International Economic Forum today.
There have also been allegations about visa breaches and infringements of corporate law that remind observers of the campaign waged two years ago against Shell, which reluctantly surrendered control of a huge oil project on the Russian island of Sakhalin.
Companies are also dipping into unconventional hydrocarbon deposits the sticky mountains of tar sands in Alberta, Canada and on the banks of Venezuelas Orinoco river, the tight sands gas reserves of western Australia, and the methane trapped in long-disused European coal mines.
onstruction of the London Array wind farm, in which Eon owns a third, has been held up by Royal Dutch Shells decision to withdraw from the project because of rising costs.