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Peak Oil in the News
Peak Oil News Monday October 30th 2006

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The Oil Crisis Started 30 Years Ago
(CounterCurrents.org) It is customary to look for the critical year of oil production in absolute terms, but in the year 1970 or thereabouts there was another important "conjunction," to use an astrological metaphor. Global production will peak at some point in the early 21st century; it may have already done so, although the mendacious accounts of remaining reserves make exact dates impossible to determine precisely.

'Ethanol-boosted' mini turbo car engine to give better mileage
(Zee News) MIT researchers are developing a half-sized "ethanol-boosted" car turbo engine that performs like its full-sized cousin, and offers fuel efficiency equalling that of today's hybrid engine system, at a lower cost.

Kuwait says oil prices stable on OPEC cut plan
(Hemscott) Kuwait's Energy Minister Sheikh Ali Jarrah al-Sabah said on Monday he believed oil prices have stabilised after a decision by OPEC to slash output by 1.2 mln barrels per day (bpd) from November 1.

Pain will come, but has been delayed
(The Age) Forecasters have conceded they have been too pessimistic too early about a downturn in mineral prices, but predict prices will peak early next year, and could have devastating effects down the track.

Global oil output 'will start to decline by 2015'
(Trade Arabia) Global oil liquids output will hit a plateau in the next five to 10 years and then permanently decline, whilst global gas production will keep on rising through to 2020 and beyond, an international oil expert says.

Chevron's record $5 billion profit fuels criticism
(Longview Daily News) Chevron Corp. said Friday that its third-quarter profit rose to a record $5 billion as crude prices soared to a fresh peak in July and the company registered strong gains at the gasoline pump.

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