Funny; I was debating about whether to post this.
"I am asking New Yorkers to conserve energy and say a prayer,"
Oil tops $76 as storm heads toward US Gulf
Oil rose above $76 on Wednesday as a tropical storm gathered strength and headed toward the Gulf of Mexico, threatening U.S. oil and gas rigs still recovering from last year's devastating hurricanes.
===========
Heat wave strains power grids in half of nation
In New York, Consolidated Edison asked customers to disconnect computers and TVs. Thermostats at train stations were raised, bridge and tunnel lights were turned off, and the Pepsi-Cola sign on Brooklyn's waterfront was dimmed.
"I am asking New Yorkers to conserve energy and say a prayer," said City Councilman Eric Gioia, who criticized ConEd's performance in last month's blackouts.
There's more... (664 words) | Comments (0 new, 26 total) | ==================================
Not looking good for Cantarell: Mexico's Largest Oil Field Output Falls to 4-Year Low
Mexican crude oil output at Cantarell, the world's second-largest field, fell faster than expected in June to a four-year low, signaling the government will miss production targets.
The field, which accounts for about half of Mexico's crude production, yielded 1.74 million barrels a day in June, 13 percent less than a year ago and the least since November 2001, according to Energy Ministry data. Petroleos Mexicanos, the state oil monopoly, forecast Cantarell output would fall 6 percent this year to average 1.9 million barrels per day.
The drop worsens the outlook for Mexico's crude exports, about 80 percent of which go to the U.S., and for the country's public finances. Taxes on oil sales account for almost 40 percent of Mexico's government revenue. Cantarell is the world's No. 2 field by output and Mexico's biggest.
"The situation is probably much graver than the government would like us to think it is," said David Shields, an independent oil consultant based in Mexico City who has covered the industry for 18 years. "Oil production and oil exports are going to decline considerably over the next three years." can link t faull story at...
theoildrum.com |
