Tuesday, December 30, 2008

P5. Pick Points

Well, as so often has happened in the past, conflict in the Middle East is sending up the price of oil as Oil tops $40 again.

Some sources are, however, blaming this on production cuts in the Middle East since OPEC cuts impact market.

While OPEC itself is talking about cutting another 2.2 mbd at their Meeting in Oran.

The other key player in the game is Russia, and there are questions on their ability to sustain production, with concerns over 2009 oil production
The key developments in the Russian oil industry in 2007 and 2008 were falling oil production levels demonstrated by the majority of the Russian oil majors, a surge in production and exploration drilling and a continuing decline in the efficiency of production stimulation.

. The other major Russian influence comes from natural gas production
Gazprom plans some new directions

These have led to a set of new predictions on price from various sources, for 2009.

Part of the problem arises in waiting while the Middle East decides to use NG in the Middle East or to sell it?

Meanwhile plans for an Australian LNG plant move forward with a land buy approved.

Turning to the domestic use of coal, more gases than CO2 were considered in the ruling.

And now folks are considering re-using coal directly at home.

Although with a more perfect insulation it might not be necessary, with no heat required in new homes.

Water is a continuing issue in the debate over the development of oil shale in Utah.

Though the problems have become, in Nepal, that the glaciers are now not melting fast enough and Nepal is not getting enough water for power generation.

Which brings us back to the debate on climate change as ABC reviews the issues.

While a Telegraph columnist talks about the opposing viewpoint

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