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Iran, Iraq, Syria sign $10B gas pipeline deal

Green Car Congress

Iran, Iraq, and Syria have signed a deal for the construction of the Middle East’s largest gas pipeline, which would carry gas from Iran’s South Pars gas field to Europe via Iraq, Syria, and Lebanon and beneath the Mediterranean Sea. Iraq has said that it needs 10 to 15 million cubic meters of Iranian gas per day.

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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

Green Car Congress

In an effort to address the rapidly increasing cost of gasoline, President Biden authorized the release of 1 million barrels of oil per day for the next six months—more than 180 million barrels—from the Strategic Petroleum Reserve (SPR). President George H. Bush authorized a drawdown of 33.75 2005 Hurricane Katrina Sale.

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Operating consortium boosts production from giant Iraqi oil field 10%; targeting 1.2M barrels per day within 6 years

Green Car Congress

Eni announced the first production milestone under the Zubair Technical Service Contract (TSC) with Iraq’s state-owned South Oil Company (SOC). ZFOD is staffed mainly by employees from Iraq’s South Oil Company with expert support from the consortium. The consortium plans to increase production from the Zubair field to 1.2

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Opinion: Who Will Be Left Standing At The End Of The Oil War?

Green Car Congress

Production cost and breakeven figures that analysts enjoy bandying can trap you in bubble of black-and-white mathematics that is a few brush-strokes shy of a full picture. Saudi Arabia and Kuwait enjoy some of the lowest production costs in the world, at about $10 and $8.50, respectively, according to Rystad Energy data.

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IEA: record oil output from US, Brazil, Canada and Norway to keep global markets well supplied

Green Car Congress

However, the report finds that despite falling costs, additional investment will be needed to spur supply growth after 2020. In the United States, fuel-economy standards for passenger cars will curb gasoline demand with growth coming from the petrochemical sector, which is thriving thanks to low-cost ethane.

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Junkyard Find: 1992 Geo Metro 4-door hatchback

The Truth About Cars

The cheapest 1992 Subaru Justy was $6,445, and Subaru likely could have squeezed a four-door under the Metro's cost if it hadn't insisted on selling all its U.S.-market Amazingly, the right-side mirror was included at no extra cost on all 1992 Metro models except the gas-mileage-king XFi. Such is the nature of the mighty GM Empire.

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The Oil War Is Only Just Getting Started

Green Car Congress

This would be the short-term game between low-cost producers and higher-cost producers. In the longer run, the latest energy outlook by supermajor BP points to another looming battle for market share, where low-cost producers may try to boost market shares before oil demand peaks.

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