Triple Crunch Log Jeremy Leggett

17 Jonathan Steele and Terry Macalister, “Vital oil exports halted after sabotage. Political handover dealt blow as insurgents wreck pipelines and assassinate top industry executive”, Guardian, 17 June 2004.

18 “Seeking a unified approach – valuing and booking oil reserves”, London Energy Group seminar, 5 July 2004. The quote is from William Prast, an oil and gas consultant to the Financial Services Authority. He also said: “Uncertainty is paramount, so much so that most petroleum engineers should have been awarded degrees in arts not sciences.”

19 Adam Sieminski and Jay Saunders, “Hubbert’s pique”, Deutsche Bank Global Energy Wire, 9 June 2004.

20 Various articles in Financial Times, 29 June 2004.

21 Terry Macalister, “Shell’s shame: FSA spells out abuse”, Guardian, 25 August 2004.

22 Michael Harrison, “Shell pays £83 fine to settle scandal over reserves”, Independent, 30 July 2004.

23 “Can oil majors keep up with worldwide demand?”, Houston Chronicle, 30 July 2004.

24 Sadad al-Husseini, “Why higher oil prices are inevitable this year, rest of decade”, Oil & Gas Journal, 2 August 2004.

25 Ashley Seagar, “Petrol prices unlikely to fall again as OPEC warns on supply”, Guardian, 4 August 2004.

26 Ashley Seagar, “Oil threat to world economy”, Guardian, 5 August 2004.

27 Carolynne Wheeler and Ashley Seager, “Oil prices at record high after Kremlin u-turn on Yukos”, Guardian, 6 August 2004.

28 Oliver Morgan, Sarah Ryle and Edward Helmore, “Oil and US jitters prompt fear of global slowdown”, Observer, 8 August 2004.

29 “The devil’s curse”, Guardian Leader, 7 August 2004.

30 Larry Elliott, “Iraq sabotage fear deepens oil crisis”, Guardian, 10 August 2004.

31 “Deutsche Bank warns oil price may hit $100”, quoted in September 2004 ASPO newsletter.

32 Carola Hoyos, “Call to let in oil majors to boost output”, Financial Times, 13 September 2004.

33 James Boxell and Carola Hoyos, “BP chiefs claims at odds with rivals”, Financial Times, 17 September 2004.

34 James Boxell and Carola Hoyos, “Oil majors well placed to meet growth in demand”, Financial Times, 16 September 2004.

35 Kevin Morrison, “Exxon chief hits at energy debate”, Financial Times, 17 September 2004.

36 Kevin Morrison, Javier Blas and James Boxell, “OPEC raises quotas to deflect criticism”, Financial Times, 16 September 2004.

37 William Keegan, “Pouring oil on troubled economists”, Observer, 10 October 2004.

38 Christopher Brown-Humes, “Oil prices hit records after fears on output”, Financial Times, 12 October 2004. This is the price of Brent crude.

39 Terry Macalister, “Oil hits record $54 a barrel”, Guardian, 13 October 2004.

40 “Crude oil surges to new high”, Associated Press, 25 October 2004.

41 Doug Cameron, Kevin Morrison and Javier Blas, “US rejects calls by OPEC chief to free oil reserves”, Financial Times, 27 October 2004.

42 Mark Milner, “Browne calms oil supply fears. Surging prices push BP’s profits up 43% to $4 billion”, Guardian, 27 October 2004.

43 “The next scandal?”, Economist, 13 November 2004.

44 “Big oil’s biggest monster”, Economist, 8 January 2005.

45 “Expert: Saudi oil may have peaked”, aljazeera.net, 20 February 2005.

46 “Fuel’s gold: heading for new peaks”, Economist, 12 March 2005.

47 “White House: oil costs due in part to lack of legislation”, Dow Jones newswires, 17 March 2005.

48 Javier Blas and Kevin Morrison, “IEA to call for an emergency oil plan”, Financial Times, 2 April 2005.

49 David Lazarus, “ChevronTexaco CEO banking on peak oil situation”, San Francisco Chronicle, 8 April 2005.

50 “Bank says Saudi’s top field in decline”, aljazeera.net, 12 April 2005.

51 “Comments on ‘State of Fear’,” www.pewclimate.org/state_of_fear.cfm, downloaded 13 January 2006.

52 “Prices holding steady, despite massive planned capacity additions,” Chris Skrebowski, Petroleum Review, April 2006.

53 “Coaled comfort,” Gordon Cope, Petroleum Review, August 2006.

54 Nicholas Stern, editor, “The Economics of climate change: The Stern Review,” Cambridge University Press, 2006, 692 pages.

55 “Surprise: oil woes in iran,” Business Week, 11 December 2006.

56 “Iran actually is short of oil,” Roger Stern, International Herald Tribune, 8 January 2007.

57 Marina Hyde, Guardian, 3 January 2007.

58 Interview with Matt Simmons on The Bloomberg Report, posted on You-Tube 1 February 2007.

59 “Climate Change 2007: The physical science basis,” Working group 1 Contribution to the Intergovernmental Panel on Climate Change Fourth Assessment Report, Technical Summary, 2 February 2007.

60 http://www.mineweb.net/energy/596887.htm, 24 January 2007, reported in the Oil Depletion Analysis Centre newsletter 7 February 2007.

61 “Eni’s Kashagan oil field hit by delays,” Carola Hoyos, Financial Times, 23 February 2008.

62 “Global warming is a 'weapon of mass destruction',” Geoffrey Lean, Independent, 18 March 2007.

63 “Turning Off the Taps - Is Russia About To Cap Its Oil Production?” Russia Profile, 30 March 2007.

64 “Mexico tries to save big, fading oil field,” David Luhnow, Wall Street Journal, 5 April 2007.

65 “Oil and gas reserves shrinking,” Moscow News, 9 April 2007.

66 “Sellafield kept body parts of dead workers,” Michael White, Guardian, 18 April 2007.

http://www.guardian.co.uk/society/2007/apr/18/health.uknews

67 “Exxon Mobil Says Peak Oil Unlikely in the Next 25 Years,” Daily Reckoning, Thu 03 May

http://www.dailyreckoning.com.au/exxon-mobil-peak-oil/2007/05/03/

68 “Kuwait plans big shake-up in the oil sector,” Agencies, New York Times, 12 May 2007.

69 “Solar thermal markets in Europe: Trends and markets statistics 2006,” European Solar Thermal Industry Association report, June 2007.

70 “World still has 40 years of oil, says BP,” Ed Crooks, Financial Times, 13 June 2007.

71 “Shock as Shell puts assets up for sale,” Aberdeen Press and Journal, 15 June 2007.

72 “British army chief: climate change could fuel conflict and terror,” The Associated Press, 26 June 2007.

73 “Iran continues petrol rationing amid riots,” Najmeh Bozorgmehr, Financial Times, 27 June 2007.

74 “IEA: without Iraqi oil, we'll be in deep trouble by 2015,” Le Monde, 28 June 2007. Translation posted on The Oil Drum: Europe: http://europe.theoildrum.com/node/2721#more

75 “World will face oil crunch ‘in five years’,” Javier Blas, Financial Times, 9 July 2007.

76 “US urged to act on energy,” Ed Crooks, Financial Times, 17 July 2007.

77 “Bank of International Settlements 78^th report, 1 July 2008.

78 “Nuclear heat advances oil shale refining in situ,” Judy Clark, Oil and Gas Journal, 11 August 2008.

79 “Rain stops coal mine rescues,” Canberra Times, 19 August 2008.

80 “Conoco's Mulva: ‘The World Has A Natural Gas Problem’,” Energy Intelligence, 29 August 2007.

81 “Caspian lessons for oil giants,” Isabel Gorst, Financial Times, 3 September 2007.

82 “Kazakhstan seeks $10bn Eni damages,” Isabel Gorst, Financial Times, 4 September 2007.

83 “Total Chief says world will find oil target tough,” Carl Mortishead, The Times, 8 September 2007.

84 “Private industry conference finds much less oil,” podcast from Ray Leonard on the Hedberg conference, Lastoilshock.com, 28 September 2007.

85 Gary Vasey, Energy Hedge Funds Center, speaking at the annual Commodities Week conference, London.

86 “Energy-rich Caspian becomes center of US-Russia power struggle,” International Herald Tribune, 17 October 2007.

87 Mansour Kashfi, “Did Caspian summit share the sea or Iran’s oil riches?” Oil and Gas Journal, 29 January 2008, p. 20-22.

88 Werner Zittel and Jorg Schindler, “Crude oil: the supply outlook,” Background Paper prepared for the Energy Watch Group, EWG-Series No3/2007, October 2007, 103 pages. Report released at a press conference in the Foreign Press Association in London, 22 October 2007.

89 “Electricity from renewable sources: what does it cost us,” German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety, 2007.

90 “Saudis build on oil boom,” Andrew England, Financial Times, 28 October 2007.

91 “World oil output struggling, say Arab experts,” Alex Lawler and Peg Mackey, Reuters, 30 October 2007.

92 “Cuts Urged in China’s and India’s Energy Growth,” Jad Mouawad, New York Times, 7 November 2007.

93 “Saudi oil chief rejects talk of supply crunch,” Javier Blas and Roula Khalaf, Financial Times, 12 November 2007.

94 “Oil officials see limit looming,” Russell Gold and Ann Davis, Wall Street Journal, 19 November.

95 “Peak possibilities,” Justin Fox, Time Magazine, 21 November 2007.

96 “Companies need $70/b to match $30/b returns,” Petroleum Review, January 2008.

97 “BP in strategic u-turn over Canada’s oil sands,” Ed Crooks, Financial Times, 6 December 2007.

98 “Without reform, Mexico's crude exports will collapse: ministry,” Platts, 11 December 2007.

99 “Saudi industrial drive strains oil export role,” Neil King Jr, Wall Street Journal, 12 December 2007.

100 “Oil giants abandon plans for ‘uneconomic’ green power plant, Carl Mortishead, Times, 21 December 2007.

101 http://biopact.com/2007/12/germany-is-doing-it-reliable.html “Background paper: The Combined Power Plant,” available on http://www.kombikraftwerk.de/ (F), and “A reliable ten thousandth,” Christoph Podewils, Photon, December 2007.

102 “Reporting more,” ASPO Newsletter, January 2008.

103 “£10.5m climate change grants left unclaimed,” Terry Macalister, Guardian, 1 January 2008.

104 “Energy firms face tough year as new emissions rules bit,” Mark Milner, Guardian, 2 January 2008.

105 “And Don Quixote wins in the end,” Ralf Gellings, Ines Rutschmann, Photon, January 2008.

106 “Up for grabs,” James Randerson, Guardian, 2 January 2008.

107 “Oil chiefs told to focus on reinvestment,”, Sheila McNulty, Financial Times, 2 January 2008.

108 “Council approves plans for Kent power station,” Jessica Aldred, Guardian, 3 January 2008.

109 “Trees absorbing less CO2 as world warms, study finds,” James Randerson, Guardian, 3 January 2008.

110 Poll: Kansans support rejection of coal-fired plants.
http://powermarketers.netcontentinc.net/newsreader.asp?ppa=8knpp%5E%5ChlnpqntZShf%7D38%7Dbfen%5F%21

111 California Sues E.P.A. Over Denial of Waiver,” Felicity Barringer, New York Times, 3 January 2008.

112 “Scientists take on Brown over nuclear plans,” John Vidal, Guardian, 4 January 2008.

113 “Burning biofuels may be worse than coal and oil, say experts,” Alok Joha, Guardian, 4 January 2008.

114 “Npower energy bills set or new highs,” Rebecca Bream, Guardian, 5 January 2008.

115 “The £1,290 car delights Indians but horrifies the green lobby,” Amelia Gentleman, Guardian, 6 January 2008.

116 “Consumers may foot nuclear bill,” John Vidal, Guardian, 7 January 2008.

117 “Rising power prices sour German view of liberalisation,” Bertrand Benoit, Guardian 7 January 2008.

118 “Rise in dealers ready for oil price to double,” Guardian, 8 January 2008.

119 “Global warming 'changing world economy',” Paul Eccleston, Telegraph, 8 January 2008.

120 “Energy islands could use power of tropics,” Robert Booth, Guardian, 8 January 2008.

121 “Pledge to cap costs of decommissioning,” Ed Crooks, Financial Times, 10 January 2008.

122 “Totally different,” The Economist, 11 January 2008.

123 “The energy offer that really is a dead Cert,” Miles Brignall, Guardian 12 January 2008.

124 “Pincer movement has Britain in grip of an energy crisis,” Richard Wachman, Observer, 13 January 2008.

125 “GE boosts green energy plans,” Francesco Guerrera, Financial Times, 14 January 2008.

126 “Energy groups are battered but not beaten,” Ed Crooks and Isabel Gorst, Financial Times, 14 January 2008.

127 “EU rethinks biofuels guidelines,” Roger Harrabin. BBC wensite news, 14 January 2008.

128 “Europe May Ban Imports of Some Biofuel Crops,” James Kanter, New York Times, 15 January 2008.

129 “Gulf states’ foreign assets to top $2,000bn,” Simeon Kerr, Financial Times, 16 January 2008.

130 “BP says world oil demand to peak,” Alex Lawler, Reuters, 16 January 2008.

131 “World not running out of oil, say experts,” Carl Mortished, Times online, 19 December 2008.

132 “Israel relies on electric cars to cut oil imports,” Fiona Harvey and John Reed, Financial Times, 21 January 2008.

133 “EU aims for moral high ground with swingeing climate change package,” Ian Traynor and David Gow, Guardian, 24 January 2008.

134 “Opec set for record earnings,” Javier Blas, Financial Times, 24 January 2008.

135 “Amazon's rescue reversed,” Tom Phillips, Guardian, 25 January 2008.

136 In a World Short Of Oil, Provisions Must Be Made: Mr. Wissner of Middleville Stocks Up on Rice, Gold; No Faith in a 'Techno Fix’,” Neil King, Wall Street Journal, 26 January 2008.

137 “This reckless greed of the few harms the future of the many: The government must act firmly to control an industry that destabilises all our lives with its naked pursuit of huge profits,” Will Hutton, Observer, 27 January 2008.