Peak Oil in the News

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Peak Oil News Wednesday January 3rd 2007

Indian rupee slips on short dollar covering, oil cos
(Reuters via Yahoo! Asia News: Tue, 02 Jan) MUMBAI, Jan 2 (Reuters) - The Indian rupee gave up intraday gains on Tuesday as traders covered short dollar positions after liquidity improved in the banking system, while oil firms bought dollars to take advantage of stable global crude prices.

Nexen: Buzzard Oil Field Start Delayed Due to Bad Weather in the North Sea
(Rigzone: Tue, 02 Jan) Nexen Inc. (NXY) said Tuesday the start date for its Buzzard oil field in the U.K. North Sea had been delayed again due to severe weather conditions.

Analysts predict high gas prices
(Salem Statesman Journal: Tue, 02 Jan) Drivers probably won't see a reduction in gasoline prices in 2007. Oil Price Information Service analyst Tom Kloza said he expects the cost at the pump in the eastern part of the country to rise to $2.80 per gallon ahead of summer, the peak demand period. But motorists out West will pay even more.

Laurie David: GM's Car Czar Must Think Company Initials Stand for "General Malaise"
(HuffingtonPost: Wed, 03 Jan) What does it take for a man and his company to wake up? How about a snowless ski season? Drowning polar bears? Or a nation addicted to imported oil coming mostly from dangerous parts of the world? Bob Lutz and General Motors are still asleep at the switch, apparently incapable of responding to the climate crisis or the need to reduce our dependence on foreign oil. In a story published by ...

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.

Opec expansion increases US dependence
(Financial Times: Wed, 03 Jan) US dependence on the Or-ganisation of Petroleum Exporting Countries for its oil imports has risen to its highest level in 15 years, following Angola's arrival this week as the 12th member of the oil producers' group.

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