Peak Oil in the News

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Peak Oil News Tuesday December 5th 2006

Renewable Resources: An Investment Hedge Against Peak Oil
(Resource Investor: Tue, 05 Dec) Keep the renewables sector in mind for the future - there may be better opportunities that solely real estate.

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.

Florida's oil wells are being sucked dry
(Miami Herald: Tue, 05 Dec) Back in World War II, the federal government dangled cash rewards to encourage landowners to drill for oil to power America's military machine.

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.

Old oil field barracks turn green with solar power, super-insulation
(Casper Star-Tribune: Tue, 05 Dec) CODY - A home built in the 1930s as housing for Husky Oil workers in Oregon Basin is getting an extreme makeover as an energy efficient "green house," designed to produce more power than it consumes.

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.

CII seeks cut in peak customs duty to 10 per cent
(New Kerala: Tue, 05 Dec) New Delhi, Dec 4: The Confederation of Indian Industry (CII) today asked the government to bring down the peak customs duty to 10 per cent from the present 12.5 per cent in the next budget in line with the recommendations of the Kelkar Task Force on indirect taxes.

Oil prices dip despite Opec threat of new cut
(The Herald: Tue, 05 Dec) Oil prices dipped yesterday despite continuing speculation Opec could be planning a further output cut at its next meeting later this month.

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