"In 1925, California supplied [much] of the world’s oil
(Google quickview, original PDF
) and much of it came from pumps in the Southland
). To date, around 9 billion barrels of oil have been produced in the Los Angeles area. There are still over 30,000 active wells here pumping around 230 million barrels of oil a year, making Los Angeles County the second most productive oil county in California (although the quality of the oil here is somewhat low by today’s standards). There are 55 known oil fields in the Los Angeles area and 11 of them are located in a very urban context. This setting makes the oil extraction process in Los Angeles unique." Things to do in LA: Urban Oil Wells In Los Angeles, Part I
and Part II
. [more inside]
posted by filthy light thief
on Nov 19, 2012 -
Unusually for a spring season, gasoline prices have been steadily climbing
in the US since the beginning of 2011, and have surpassed $4/gallon in many US states, largely due to political instability
in many oil-producing African and Middle-Eastern nations. "Not so fast,"
says the Department of Energy. Although the price of crude oil has climbed steadily throughout the year, the price of gasoline has climbed much faster -- a disparity known as the crack spread
, which has remained
at its highest level in 32 months, even in light of a sharp decline in the price of crude oil at the beginning of the month. The DoE speculates that although crude oil is cheap and plentiful enough, the 2011 Misssissippi River Floods
are currently more to blame for $4 gas than the uprisings in the Middle East.
posted by schmod
on May 19, 2011 -
In 2009, a remarkably gifted politician, confronting a remarkably difficult set of challenges
, will have to learn to say "No we can't"
, Guantánamo will prove a moral minefield
, economic recovery will be invisible to the naked eye
, governments must prepare for the day they stop financial guarantees
, we will judge our commitment to sustainability
, scientists should research the causes of religion
, we will all be potential online paparazzi
, English will have more words than any other language
(but it's meaningless), Afghanistan will see a surge of Western (read: American) troops
, Iran will continue its nuclear quest
while diplomacy lies in shambles
, the sea floor is the new frontier
, we should rethink aging
, (non-)voters will continue to thwart the European project
-- but cheap travel will continue to buoy it
-- though it has some unfinished business to attend to
, and a Nordic defence bond will blossom
.The Economist: The World in 2009
. [more inside]
posted by goodnewsfortheinsane
on Nov 27, 2008 -
Power Cut Shuts Down Iraq Oil Exports
ASRA, Iraq (AP) -- Iraq's oil exports were shut down Monday by a power cut that darkened parts of central and southern Iraq, including the country's only functioning oil export terminals, Iraqi and foreign oil officials said.
posted by celerystick
on Aug 22, 2005 -
The life-expectancy of Industrial Civilization is horridly short
according to Richard C. Duncan and his Olduvai theory. Like all of these weird theories it can be found on the outer fringes of the Internet. Duncan's theory kind of tracks the Hubbert Curve model of petroleum depletion that has been posted before on this site. As Isaac Asimov has stated "Indeed, the ability to control energy, whether it be making wood fires or building power plants, is a prerequisite for civilization." Only time will tell if Duncan was on to something we should have paid attention to.
posted by thedailygrowl
on Dec 22, 2002 -
"The myth of oil prosperity runs wide and deep".
"Petroleum-led development strategies have delivered nation after nation into a spiral of debt and dependency. And yet, governments, corporations, and international financial institutions continue to reinvest in the growing, global oil economy". Consider Nigeria
, the point of focus of attention of environmentalists, human rights activists and fair trade advocates around the world. With its annual debt service obligation
at over $4 bn, more than a third of its export income, Nigeria has in recent years pegged its annual budget allocation for actual debt servicing at $2 bn. Lower export earnings forced it to cut this to $1.5 bn in the 1999 budget. Who's to blame? Theftocracies, the IMF, World Bank, oil companies, foreign governments? Since it is clear that debt restructuring harms more than helps, will there be more debt relief
, and finally, who ends up paying the banks when loans are written off?
posted by Mack Twain
on Aug 13, 2002 -
Do internal memos reveal oil refineries engaged in price-fixing?
From Joshua Micah Marshall's Talking Points memo; links to a Paul Krugman NYT op-ed, but far more intriguingly to Sen. Ron Wyden's (D-OR) webpage
, where on June 14th he released his report on alleged price fixing by varied oil refineries based on internal memos and documents of these companies. These types of allegations have been made before, but there is some rather damning language from those internal memos...
posted by hincandenza
on Jun 28, 2001 -
Exxon "helped torture in Indonesia."
The Aceh uprising brings up the point--how far do we allow multi-nationals to go to "protect their interests"? Would you sanction torture to keep the price of gas and other petroleum products low?
posted by aflakete
on Jun 22, 2001 -
Grand Old Petroleum.
GOP. Get it? The DNC really cracks me up sometimes. This is, however, an interesting development in politics. Is every issue going to have its own clever webpage in the future? The mind boggles.
posted by CRS
on May 17, 2001 -