Peak Oil in the News

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Peak Oil News Wednesday December 6th 2006

Commodity Strategists: Biofuel May Cause Oil Slump
(Update2: Wed, 06 Dec) Dec. 6 (Bloomberg) - Crude oil prices in New York may tumble to $40 a barrel next year as demand for biofuel made from crops spurs investors to switch from energy to agricultural commodities, said Tetsu Emori, chief commodities strategist at Japan's Mitsui Bussan Futures Ltd.

Commodity Strategists: Biofuel May Cause Oil Slump
(Update1: Wed, 06 Dec) Dec. 6 (Bloomberg) - Crude oil prices in New York may tumble to $40 a barrel, as rising biofuel supply shaves demand growth for traditional auto fuel, said Tetsu Emori, chief commodities strategist at Japan's Mitsui Bussan Futures Ltd.

Oil industry survey shows little optimism about Washington
(Houston Chronicle: Wed, 06 Dec) U.S. oil and gas industry leaders aren't hopeful that Washington lawmakers will make their lives any easier in coming years, according to a survey released Tuesday. The survey, by consulting firm Deloitte & Touche, showed that almost 80 percent of the respondents believe U.S. energy policy is not heading in the right direction,

Latin American oil: past and future
(The Narco News Bulletin: Wed, 06 Dec) 2005 was a bumper year for Latin American oil production. According to BP's Statistical Review of World Energy , in 2005 oil production reached 10.7 million barrels per day, a new record.

Indian rupee trims gains as oil firms buy dollars
(Reuters via Yahoo! Asia News: Wed, 06 Dec) MUMBAI, Dec 6 (Reuters) - The Indian rupee climbed past 44.50 a dollar on Wednesday, but quickly trimmed the gains on heavy demand for dollars from oil refiners and as traders were wary about central bank intervention.

OIL FUTURES: ICE Brent Holds Steady Awaits US Stocks Data
(CattleNetwork.com: Wed, 06 Dec) LONDON (Dow Jones)-ICE Brent crude oil futures were little changed Wednesday morning in London as participants took to the sidelines ahead of key U.S. inventory data.

Old oil field barracks turn green with solar power, super-insulation
(Casper Star-Tribune: Wed, 06 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.

Oil edges up ahead of US inventory data, traders still mulling OPEC cuts UPDATE
(Sharewatch: Wed, 06 Dec) LONDON (AFX) - Oil edged up ahead of US inventory data expected to show a decline in US stocks of distillates amid colder temperatures, and as concerns the OPEC cartel will cut output again when it meets next week continued to support prices.

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