Jan 2008

While politicians in Europe debate how to deal with Gazprom, the Russian company is extending its influence over its most important market. And it will not tolerate meddlers

Tightening oil and gas supplies, rising prices and security-of-supply concerns are driving an increasing interest in unconventional hydrocarbons resources. By Rhodri Thomas, managing consultant, Wood Mackenzie

With concerns of a slow-down in some of the world's larger economies – including the US, China and Japan – mounting oil prices have eased by around $6 a barrel from the early January record above $100/b.

Why are crude prices so high? Some say supply and demand, some say speculators. Shortages of refinery capacity are making a significant contribution, Martin Quinlan writes

GROWING evidence of a slow-down in the US economy, triggering sharp falls in stocks around the world, pushed oil prices lower this week.

It is often said that energy systems require secure and economic supplies that do not have unacceptable environmental consequences. The history of nuclear energy over the last few decades reveals that such an analysis is only partial; energy supplies must also satisfy a series of political imperatives. By Malcolm Grimston, associate fellow, Chatham House

Falling equity prices have brought oil prices down with them: at the start of the week, crude futures were trading at just below $90 a barrel – 10% below the record high above $100/b set at the start of January.

International oil companies have been harassed into ceding control of oil assets in Venezuela. So do political risks still matter to investors in the country's oil industry? By Daniel Linsker, analyst – Americas, Control Risks

THE NEW year began with a bang, with the price for February-delivery light sweet crude oil on Nymex hitting $100/b for the first time.

The Intergovernmental Panel on Climate Change (IPCC), the world's most authoritative scientific body studying climate change, has all but removed doubts about the link between global warming and human activity. Its Fourth Assessment Report – signed off this year by all UN governments, including the US – said there is a greater than 90% chance that climate change has been caused by the burning of fossil fuels and other human actions.