July 2, 2008 |
Oil supplies will remain tight despite record prices that have reduced demand, according to the International Energy Agency, and its executive director said Tuesday that the world was in the grip of its third "oil price shock." Downsizing its estimate of how much oil will reach the market, the IEA predicted that supply would exceed projected demand only by 2 million barrels a day -- a thin cushion. The IEA is the energy watchdog for the Organization for Economic Cooperation and Development, a grouping of the world's most-industrialized countries.
July 9, 2007
Re "Gut instinct isn't science," Opinion, July 5 When I am asked whether I believe in the Big Bang or evolution or global warming, I try desperately to explain that "belief" has no role in the validity of such scientific theories. I want to thank David P. Barash profusely for giving me far better words to explain the difference between science and "truthiness." JANET DREYER Pasadena * One of the realities global inhabitants face but don't seem to realize is oil depletion.
November 11, 2006
* China's annual trade surplus is set to reach $150 billion this year, bursting past last year's record $109.8 billion as the country's exports continue to surge, a government report said. The report by the Commerce Ministry said exports were likely to hit $960 billion by the end of 2006, a 26% increase from 2005. * The International Energy Agency cut its estimates for global oil demand this year and next because of weaker-thanexpected consumption in China.
May 29, 2006 |
Oil companies and other investors are spending a collective $100 billion on new oil refineries that could alleviate the current bottleneck in refining capacity -- and eventually translate into a small cut in the price of gasoline, a top project financier said here Sunday. Will Rathvon, global head of project finance for Britain's Standard Chartered Bank, said that more than 30 new or expanded refineries will come on stream over the next decade, adding at least 6.
February 8, 2006 |
U.S. and world oil demand growth in the second quarter is expected to be stronger than previously forecast, the Energy Information Administration said Tuesday, which could affect OPEC's decision on whether to cut oil output during the period. In its monthly forecast, the Energy Department's analytical arm increased its estimate for U.S. oil demand growth during the April-June period by 180,000 barrels a day to 20.
December 27, 2005 |
China's implied oil demand nudged up a minimal 0.1% in November from a year earlier, quashing expectations that growth in demand by the world's second-largest crude consumer would revive at year's end. Imports of crude oil slid to the second-lowest level since January and exports of heavier products rose, as the effect of measures designed to keep fuel in China appeared to fade.