Peak Oil in the News

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Peak Oil News Monday December 4th 2006

Oil falls below $63
(Reuters via Yahoo! News: Mon, 04 Dec) Oil prices fell on Monday, unwinding steep gains last week that were spurred by mounting expectations of a second OPEC supply cut and as colder weather began to eat into U.S. fuel stocks.

OPEC frets over dollar's fall, ponders oil cut
(Reuters via Yahoo! News: Mon, 04 Dec) OPEC is worried by a fall in the dollar that is eroding member states' oil revenue and ministers will take up the issue when they meet next week to discuss a further cut in output.

Norway Urged to Push Offshore Oil Search
(AP via Yahoo! Finance: Mon, 04 Dec) Norway needs to open up new offshore oil exploration areas and step up the search in existing zones if it is to remain a key oil exporter, a national oil industry association report said Monday.

Working on empty: Planning for oil's end
(The Oregonian: Mon, 04 Dec) The prophets of gloom meet every Wednesday in a church basement to plan for the end of oil as we know it.

OPEC frets over dollar's fall, ponders oil cut
(Reuters via Yahoo! Asia News: Mon, 04 Dec) ABU DHABI/VIENNA (Reuters) - OPEC is worried by a fall in the dollar that is eroding member states' oil revenue and ministers will take up the issue when they meet next week to discuss a further cut in output.

Oil falls below $63, OPEC mulls new output cut
(Khaleej Times: Mon, 04 Dec) LONDON - Oil prices fell on Monday after briefly touching a new two-month high, driven by mounting expectations of a second OPEC supply cut and stronger demand following the first big US snowstorm of the heating season.

UPDATE 6-Oil falls over a dollar, OPEC mulls new output cut
(The Forex Market: Mon, 04 Dec) LONDON, Dec 4 (Reuters) - Oil prices fell more than a dollar on Monday, unwinding steep gains last week that were spurred by mounting expectations of a second OPEC supply cut and as colder weather began to eat into U.S. fuel stocks.

Record investments in the Norwegian oil sector
(The Norway Post: Mon, 04 Dec) A new record is expected next year, when investments will reach an estimated NOK 105.6 billion. The investment level is expected to peak in 2008, with an all time high of NOK 108 billion invested in exploration, field development and maintenance.

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