The Sequel, a G.M. car that runs on a hydrogen fuel cell, will be unveiled today

G.M. has trotted out impressive hydrogen-fueled cars before – most recently the Sequel’s predecessor, the Hy-wire. G.M. says it will theoretically be able to mass-produce fuel cell vehicles affordably by 2010 – even though most competitors, which are also working on the technology, say it will be decades before such vehicles are viable.

REQUIRES PAID REGISTRATION

http://www.nytimes.com/2005/01/09/business/yourmoney/09auto.html

India Economic Summit 2004

While there is unclear evidence that the world is running out of fossil fuels, panellists agreed that we cannot continue to burn them at current rates given the environmental cost. Alternative sources of energy must be developed that are clean and economically viable. “There is a commercial incentive – and not just a moral incentive […]

Rising Oil Costs Ahead

Oil prices averaged $26 a barrel in 2002, $31 in 2003 and $41 in 2004. Prices are projected to be higher this year because oil supplies may be diminishing at the same time demand is increasing worldwide. This likely will drive the cost of energy higher for everyone.

Washington Post

VRB Power & Electrosynthesis Sign Technology Development Agreements

“We are pleased to continue development and commercialization work on the flow battery technology. VRB Power’s acquisition of the Regenesys technology will enable the Company to address a broad range of market needs providing security of supply and economic advantages to utility companies and industry,” http://www.newswire.ca/en/releases/archive/January2005/06/c0379.html”>newswire

What Yukos case shows about ‘rule of law’

The rush by Big Oil to block the sale of Yukos was so clumsy and hasty that it has created a big legal tangle. The Financial Times of London wrote on Dec. 30 that the Houston court’s ruling “has prompted widespread surprise from legal experts who said it could lead to a flow of applications from foreign companies for bankruptcy protection.

workers.org

The beginning of the end for oil

Greg Greene, one of the the men behind “The end of Suburbia” has now announced a follow up:

“TV executives who did not understand why we wanted to make a film about oil suddenly realised what was going on. As oil climbed in price, so did the interest around the world.”

As a result, Greene is now set to start filming his second film, Escape From Suburbia, hitting the same topic from a different angle.

“In Escape I wanted to look at the people who really were trying to make some kind of impact over the energy question. Right now. Who were the people who had a future without cheap oil? Who were the ones who didn’t want to waste any time waiting around for it to hit them?

Aljazeera

Hostage to oil

At least the story is coming out of the media in a factual way now.

A few pessimistic observers say the world is simply running out of oil and is paying the price for its dependence on a finite resource. But most analysts see a more complicated reality: The supply is still there, but it is increasingly difficult to access and deliver to ever more oil-hungry consumers around the globe.

http://www.usnews.com/usnews/issue/050110/biztech/10oil.htm

This is why evaluating Peak Oil claims is so difficult for us non-experts

http://www.newkerala.com/news-daily/news/features.php?action=fullnews&id=55960[ Business India]: New Delhi, Jan 6 : Oil reserves of the Persian Gulf countries would last nearly a century at current production level, United Arab Emirates Minister of Energy Mohammed Bin Dhaen Al Hamli said today. “The proven oil reserves of the Middle East region is currently estimated at nearly 700 billion barrels of […]

ECONOMIC GROWTH AND OIL

Towards the end of this decade the emerging permanent undersupply of oil will at least lead to widespread economic crisis across the industrialised world. This is nothing new; many of us have experienced recession before. The challenge this time however will be to adopt different modes of behaviour. We will be compelled to make do with less of everything as a very new reality asserts itself. The economic dogma of endless growth will burn away with the last remaining barrels of cheap abundant oil.

Oilcrash

China: Expanding Into U.S. Oil Sweet Spot?

China continues its attempt to become a major global oil producer. Having mishandled and prematurely depleted the reserves within its own borders, it has embarked on a strategy of global acquisitions. The latest acquisition attempt, is a big step for the Chinese, as they are reportedly attempting to buy a top tier U.S. oil and exploration company.

Rigzone

Conoco to cut estimate at key Canadian oil field

ConocoPhillips plans to cut its estimate of reserves at a key Canadian oil field after a slide in the expected value of production. The group said it “anticipates a negative revision” of the proved crude oil reserves from the Surmont field in Alberta, which it operates in partnership with Total of France and US-based Devon […]

Chinese Firm Is Said to Be Eyeing Unocal

If a deal goes through, it would be the Asian country’s largest acquisition of a U.S. company.http://www.latimes.com/business/la-fi-unocal7jan07.story

Chinese strategic oil reserves to be filled next year

China, the world’s second-biggest oil consumer after the United States, is likely to start filling strategic oil reserves next year in order to ensure a stable and rapid growth of the world’s fastest growing economy, a senior economic official said on Thursday. http://www.chinadaily.com.cn/english/doc/2005-01/07/content_406775.htm

Wall Street: Stocks sink as inflation concerns trump lower oil prices

Wall Street’s 2005 slump extended into a third session Wednesday as renewed concerns about inflation and higher interest rates sapped confidence from buyers. Investors were still digesting the latest news from the Federal Reserve’s Open Market Committee, which sent stocks tumbling Tuesday when it released the minutes of its Dec. 14 meeting. Several members of […]

Aiyar to push India’s case for emergency oil storage

Petroleum minister Mani Shankar Aiyar will push for greater interdependence through higher mutual investments and long-term contracts amongst the Asian countries to ensure energy stability, security and sustainability. In the first-ever roundtable of Asian ministers on regional cooperation in the oil economy scheduled in New Delhi on Thursday, Mr Aiyar has proposed that mutual investments […]

Gulf oil reserves to last 100 years: UAE Minister

Jan 6 : Oil reserves of the Persian Gulf countries would last nearly a century at current production level, United Arab Emirates Minister of Energy Mohammed Bin Dhaen Al Hamli said today. “The proven oil reserves of the Middle East region is currently estimated at nearly 700 billion barrels of oil, which constitute around 65 […]

Italian companies to bid for YUKOS assets

Italian companies will bid for YUKOS assets if they are allowed, Italian Industry Minister Antonio Marzano told journalists in Abu Dhabi, Reuters reported. Italy’s top oil firm Eni said in November 2004 it would not bid for key production unit Yuganskneftegaz. It reconsidered its position after the December auction www.top.rbc.ru

European trading in carbon-emission permits begins

Most power stations are surrounded by coal tips or pipes carrying gas. But round the plant that powers the Swedish town of Enköping, some 70 kilometres west of Stockholm, there is willow coppice stretching as far as the eye can see. Enköping is probably the only town in Europe that is powered by biofuels. www.newscientist.com

Goodbye, cheap oil

NEW YORK – It was a year that people in the oil markets are unlikely to forget—a year that prices set records, forecasts lost touch with reality, and almost everything that could go wrong, did. It was also a year that politics returned to the oil market. And the trend is likely to continue this […]

The fault lines that could shake Asia

While much of Asia has been overwhelmed by the year-end tsunami, the outpouring of sympathy and assistance will eventually soothe the pain and destruction. What the tsunami may not be able to change, however, is the much deeper and stronger socio-economic-strategic undercurrents that are gathering momentum in Asia.www.atimes.com

The Russian Pipeline Decision

This is far from over and China is far from out of the game. I would not put it past Putin to use it to buy time with the US (Japan is our buddy) while laying the seeds for a collapse of talks and construction down the road; say when the pipeline is built to the geographic point where it must either turn south or continue east. That’s maybe 2-3 years away and in the meantime Putin’s options remain open.

FTW

Despite High Oil Prices, US Businesses Slow To Conserve

The poll, which anonymously canvassed more than 308 chief financial officers from public and private companies, shows high energy prices ranked among executives’ chief concerns for 2005. But only one-fifth of the respondents reported making any efforts to conserve fuel, and that fraction has shrunk from the third quarter. Despite High Oil Prices, US Businesses […]

ANWR not all that?

ConocoPhillips stops lobbying for ANWR oil development. A ConocoPhillips spokeswoman said the company recently chose not to renew its membership in the Arctic Power lobbying group. It has instead decided to focus attention on development of a massive gas pipeline in Alaska and on other fields in the North Slope Could it be that it’s […]

Crude Oil Rises as OPEC Members Lower Production to Avert a Supply Surplus

Crude oil for February delivery rose $1.56, or 3.6 percent, to $44.95 a barrel at 11:26 a.m. on the New York Mercantile Exchange. Futures touched $45.40, the highest since Dec. 22. Oil has lost 19 percent since reaching $55.67 on Oct. 25, the highest since the contract was introduced in 1983. Prices are 33 percent […]

Domestic oil prices seen steady over next 3 mos

Domestic oil prices will likely be maintained at their current levels at least three months, the country’s top energy official said. Energy Secretary Vincent S. Perez told reporters yesterday that if international crude prices will continue on a downward trend, consumers may even expect a price rollback within the first quarter of the year. http://www.philstar.com/philstar/NEWS200501060705.htm

Powergen seeks permission for £800m conversion of Grain station

Powergen lodged a planning application yesterday for a £800m scheme to convert its oil-fired Isle of Grain station in Kent to burn gas, and effectively double the output from the facility. The move is designed to help ensure that Britain’s electricity supplies do not begin to run dangerously low from the end of this decade […]

Storm grows over giant wind farm

Thousands of protesters have made official objections to plans for Europe’s biggest wind farm on the Isle of Lewis, in the Outer Hebrides. Developers want to build more than 230 of the tallest wind turbines to be erected in Britain on peat moorland in the north of the island. http://news.bbc.co.uk/1/hi/scotland/4149487.stm

Analysts say move could finish off US Airways

Southwest Airlines’ decision to fly from Pittsburgh could deliver the long-predicted kill shot finishing off US Airways. The nation’s seventh-largest airline already is reeling from a series of unfortunate events: its second bankruptcy, high oil prices, an escalating fare war and a Christmas holiday travel disaster that stranded thousands of customers and misplaced untold numbers […]

Hot weather in 2004 a sign of global warming

Last year has been ranked the tenth hottest year in Australia since official records began in 1910. According to the World Meteorological Organisation’s annual climate survey, the mean temperature during 2004 was 0.45 degrees above the long-term average. http://www.abc.net.au/news/newsitems/200501/s1277610.htm

Alaska Drilling, Energy Policy to Clear Senate – Abraham

A bigger Republican majority in the Senate is likely to pass a national energy plan and back drilling in an Alaskan wildlife refuge to open up energy sources at home, the outgoing US Energy Secretary said on Tuesday. “With the new composition of the Senate I believe it is feasible and likely that both ANWR […]

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