Sorry Dino, Oil Comes From Rock

Abiogenic Petroleum Origin

The abiogenic hypothesis argues that petroleum was formed from deep carbon deposits, perhaps dating to the formation of the Earth. Supporters of the abiogenic hypothesis suggest that a great deal more petroleum exists on Earth than commonly thought, and that petroleum may originate from carbon-bearing fluids that migrate upward from the mantle. The presence of methane on Saturn's moon Titan and in the atmospheres of Jupiter, Saturn, Uranus and Neptune is cited[1] as evidence of the formation of hydrocarbons without biology.[2]


The linked article in Wikipedia has perhaps the most balanced review of this topic. But beware, there is a lot of wack-job opinion masquerading as fact on this topic.

New Energy Efficient Technologies, Lexus or Corolla?

For decades there has been talk about how photovoltaics could explode onto the mainstream market once they crossed the performance and efficiency coefficient. Once their efficiency, or output power v. input power of sunlight, overtakes the levels of energy put into manufacturing them, we are headed into positive territory for more widespread applications. This, of course, assumes that one of the main impediments to  general applications is first cost. So the problem is being approached from two directions: getting first costs down and increasing lifecycle efficiency. See the article on Archinect: New Energy Efficient Technologies - Lexus or Corolla?

US Production of Natural Gas Grew at about 7.5% annually in 2011

With a doubling period of 10 years, gas production is definately up. The huge volume of gas coming on line is driving prices down to a point where it is now practical to use it for purposes formerly reserved for coal.
http://www.eia.gov/todayinenergy/detail.cfm?id=6030

Up to 350 new wells are coming on line monthly in Eagle Ford area of Texas

New well starts in the Eagle Ford region in Texas increased 110% from January through March 2012 compared to the same period in 2011, according to reporting and analysis by BENTEK Energy LLC (Bentek).

http://www.eia.gov/todayinenergy/detail.cfm?id=5950#

Gas Prices Headed Lower CNN Money reports that "While much hype was made earlier this year about how gas had run up further and faster than any time before and may even reach a new all-time high of over $4.11 gallon, prices have been slowly declining since touching $3.95 a gallon at the beginning of April. Gas prices currently sit at $3.84, according to AAA."

"If we don't have any supply issues or refinery outages, we've seen the highs for the summer," 

http://money.cnn.com/2012/04/26/markets/gas-prices/index.htm?iid=Lead

Times reports that the energy market is booming in the US

Times article reports that energy market is improving in US

But wait! There is more!

From WSJ last week: "With domestic electricity demand rising 10% per year in Saudi Arabia, the kingdom now devours more than a quarter of its oil production... IEA figures show that Saudi Arabia now consumes more oil than Germany, an industrialized country with triple the population and an economy nearly five times as large...