Peak Oil in the News

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Peak Oil News Monday January 1st 2007

Peak Oil Action Group to meet
(The Eureka Reporter: Sun, 31 Dec) A "Whole Humboldt Catalogue" resource meeting will be held in the Senior Room at the Arcata Community Center on Tuesday at 7 p.m.

Peak Oil Passnotes: 2006 - A Year of Confusion
(Resource Investor: Fri, 29 Dec) RI predicted an oil price of $61 on Christmas Day back when crude was lapping around the $75 mark. Amazingly ... or should that be, of course, we were right. It was one of the few predictions in 2006 that actually came true.

Deal likely to lower gas company's taxes
(The Ithaca Journal: Mon, 01 Jan) OWEGO - A settlement on Central New York Oil and Gas' $75.1 million assessment will likely mean the multi-million-dollar company will pay lower town, county and school taxes.

Oil Rally Ends in 2006 as Record Prices Slow Demand
(Update1: Fri, 29 Dec) Dec. 29 (Bloomberg) - Crude oil ended a four-year rally in 2006 as record-high prices slowed demand growth and less-extreme weather bolstered supplies.

EAST TEXAS DRILLING REPORT, DECEMBER 31
(Tyler Morning Telegraph: Mon, 01 Jan) The Margaret Herrin Gas Unit No. 1 Well No. 7 is being prepared by Penn Virginia Oil & Gas LP for drilling. The well will be located 2.9 miles northeast of Crossroads in a wildcat field. The well will reach 13,000 feet in the Cellum, J Survey, A-145.

Oil's 4-yr rally ends as price rise hurts demand
(Gulf Times: Sat, 30 Dec) SINGAPORE: Crude oil ended a four-year rally in 2006 as record-high prices slowed demand growth and less-extreme weather bolstered supplies. Oil has fallen 0.8% this year in New York to $60.54 a barrel, set for the first annual decline since 2001, after surging 40% in 2005 and 36% in 2004.

Kansas oil output rises
(Kansas City Star: Fri, 29 Dec) LAWRENCE | Kansas oil production increased more than 5 percent this year, according to estimates from the Kansas Geological Survey.

Thai 2007 fuel oil demand set to fall on gas usage
(Reuters via Yahoo! Asia News: Fri, 29 Dec) SINGAPORE, Dec 29 (Reuters) - Thailand is expected to slash imports of low-sulphur fuel oil (LSFO) for power generation by over 90 percent next year after two new natural gas fields come onstream in the first quarter, industry sources said.

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