Yearly Archives: 2008

Chronicle Energy Items: 02.13.08

A few of the energy related items in today’s Houston Chronicle or on chron.com: • Venezuela to stop oil sales to Exxon Mobil: Venezuela’s state-owned oil company said Tuesday it will stop selling crude oil and other fuels to Exxon Mobil Corp. in retaliation for the U.S. oil giant’s efforts to freeze billions in worldwide […]  More »

CERAWeek: IEA to lower 2008 oil demand forecast

The International Energy Agency will revise downward its forecast for 2008 world oil demand slightly in a report scheduled to be released Wednesday. Nobuo Tanaka, executive director of the IEA, would not say how much the revision would be, but indicated that the agency still saw strong levels of growth in Asia and the Middle […]  More »

CeraWeek: Rogoff predicts home prices to fall 25 percent

In a media Q&A Harvard economist Kenneth Rogoff reiterated his belief that U.S. housing prices could drop by 25 percent thanks to the current subprime mortgage crisis. But that needs to be framed in the perspective of the massive increase in home values the country has seen in recent decades. Essentially this would amount to […]  More »

CERAWeek: Harvard's Rogoff: window dressing and $70 oil

Harvard economist Kenneth Rogoff isn’t a big fan of the stimulus package the U.S. Congress recently passed. “Honestly I don’t think it’s going to do much. It’s just window dressing,” Rogoff said in an address on “Energy and the Economy” at CERAWeek. That also goes for French plans for economic stimulus. The higher commodity prices […]  More »

CERAWeek: ConocoPhillips' Mulva on Venezuela et al

Unlike Exxon Mobil, ConocoPhillips is trying to go through arbitration with PDVSA regarding the assets the Venezuelan government has nationalized in that country. Some highlights from CEO Jim Mulva’s speech (based on the script provided by the company — he really didn’t start riffing on other stuff): But now, there is another crucial debate raging […]  More »

CERAWeek: What the rest of the press is saying

There are a lot of reporters here from the major wire services — Reuters, Dow Jones, Bloomberg, Associated Press — and lots of small specialty publications. The goals of the wire services in particular are a bit different from ours (meaning the print and online editions of the Chronicle and this blog). They’re looking for […]  More »

CERAWeek: Fundamentals or speculation?

Is the influx of institutional investors (i.e. the folks who run your 401(k) plan or state pension funds) into commodities behind the price run-ups we’ve seen in recent years? Or is it all about growth in China and India? Panelists tried to get at that issue here at CERAWeek in a session called “Riding the […]  More »

CERAWeek: John Hess, CEO of Hess Corp. talks tech

Among the topics Hess hit are the need to cut demand by improvements in transportation technology — i.e. development of hybrid vehicles that can hit 80 miles per gallon. He also touched on a topic that will come up again this week: the energy industry manpower shortage. From about 700,000 workers in the 1980s, today […]  More »

CERAWeek: Exxon exec on Venezuelan situation

Mark Albers, a senior vice president of Exxon Mobil notes oil supply challenges are not really based on scarcity, as some believe. The oil is there, but it requires using more costly technologies. Exxon has been sharing details of their technological advancements in advance of the conference. We wrote about a new horizontal drilling record […]  More »

CERAWeek: StatoilHydro CEO speaks first…

National oil companies are only national by name but global by nature and aspirations, Helge Lund, CEO of StatoilHydro, said. Statoil and Hydro merged about 6 months ago, he said. It had been tried and failed in the past, but with the Norweigan continental shelf having matured, it didn’t make sense to have two similar […]  More »

CERAWeek: Up next: Global Oil panel — Meeting the Supply Challenge

Just so readers understand, we’re typing this up as people are speaking, thus the rough nature of the entries. Up now, a panel with: Helge Lund, CEO of StatoilHydro Mark Albers, SVP of Exxon Mobil John Hess, CEO of Hess Corp. … and CERA Chairman Daniel Yergin as moderator. Lund begins by reflecting on how […]  More »

CERAWeek: Ju'mah on alternatives, CO2 sequestration et al

Abdallah Ju’mah, Saudi Aramco’s chief, outlined issues that will impact the overall energy security situation: 1. Alternative technologies to replace or complement fossil fuels: As world living standards improve the world’s energy needs will increase, he said. But there’s a possibility of overly optimistic expectations of the role alternatives will play in the near term. […]  More »