Peak Oil in the News

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Peak Oil News Tuesday December 12th 2006

Peak oil era will be hard on Hawaii
(Honolulu Star-Bulletin: Sun, 10 Dec) DURING the past months "peak oil" has been the subject of a heated discussion in the media, including in Hawaii. The state's energy security is too important for us to allow discussions of future energy options to become a battle about peak oil, pro or con.

Oil rises on OPEC expectations
(CNN Money: Tue, 12 Dec) Crude climbs in electronic trade on bets that OPEC will cut supplies. LONDON (Reuters) - Oil edged higher on Tuesday, supported by the possibility that OPEC would agree to a supply cut at its meeting in Nigeria on Thursday.

Venezuelan oil exports to US drop
(El Universal: Mon, 11 Dec) Following a strike that cut Venezuelan oil output to 25,000 bpd in December 2002 and forced state-run oil giant Pdvsa into force majeure, Venezuelan oil exports to the United States rebounded and went up from 1.29 million bpd in 2003 to a peak of 1.55 million bpd only 12 months later.

Weather, OPEC big unknowns for oil costs
(Los Angeles Times: Tue, 12 Dec) Oil prices fell Monday and a federal report showed retail gasoline prices held steady over the last week, but where prices go next depends mostly on the weather and this week's OPEC meeting, analysts said.

Oil edges up as OPEC considers cut
(Reuters via Yahoo! Canada News: Tue, 12 Dec) Oil nudged up near $62 on Tuesday as oil ministers arriving at an OPEC meeting indicated they were likely to cut output once more.

Oil steadies above $61 ahead of OPEC meeting
(Reuters via Yahoo! Canada News: Tue, 12 Dec) Oil held steady above $61 a barrel on Tuesday, as traders awaited guidance from the OPEC and the IEA - the oil producers' and consumers' groups respectively - which are both due to report this week.

Oil edges up as OPEC considers cut
(The Globe and Mail: Tue, 12 Dec) LONDON (Reuters) - Oil nudged up near $62 on Tuesday as oil ministers arriving at an OPEC meeting indicated they were likely to cut output once more. U.S. crude prices traded 62 cents higher at $61.85 a barrel at 1543 GMT after losing 81 cents on Monday.

Japan's Producer Price Gains Slow as Oil Costs Ease
(Update3: Tue, 12 Dec) Dec. 12 (Bloomberg) - Japan's producer prices rose at the slowest pace in seven months in November as oil costs fell, easing pressure on companies to pass on higher expenses to consumers.

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