Florida Hydrogen Technology Act

Less than two weeks ago, Governor Jeb Bush announced the Florida Hydrogen Technology Act to advance Florida’s hydrogen economy through $12.9 million in demonstration project funding and $2.1 million in tax incentives. Already a leader in hydrogen energy technology, the Sunshine State was selected as one of three sites nationwide to demonstrate hydrogen fuel cell cars and hydrogen fueling stations with Ford, BP American and Progress Energy. Last week, Florida broke ground on its first hydrogen fueling station to service the world’s first commercially available hydrogen shuttle busses– a partnership with Ford, ChevronTexaco and Progress Energy.

Fuel Cells Works

Tougher energy regulations on hold

Web-posted Feb 26, 2005

By DOUG HENZE
Of The Daily Oakland Press

LANSING – An Ingham County judge has delayed the state’s plan to put stricter residential energy standards in effect Monday – a ruling a state home builder’s group believes will help housing affordability.

The Oakland Press

Russia and Korea send dollar plummeting

The rate of the American currency is sliding on the world markets again. The USD has dropped against the euro, the English pound, the Swiss frank, the Japanese yen and the Russian ruble. Yet another reduction of the US dollar rate occurred because of the decision of the South Korean Central Bank to convert a part of its dollar reserves into euros..

Read the article here.

Pouring oil on the East China Sea

Japan has begun planning for the worst. A conflict with China over rich gas deposits in the East China Sea has escalated since late January when two Chinese destroyers entered the area, which has been in dispute for decades. Japan warned China that it would defend its resources there. The East China Sea is thought […]

Oil price surge defies forecasters

As crude-oil futures climbed above $51 a barrel this week, analysts threw up their hands and wondered why. “None of the historical correlations analysts have used – inventories primarily for oil, storage for natural gas, natural-gas and oil prices for rig counts — work,” said Jim Wicklund, managing director of energy research at Banc of […]

Oil prices, interest rates top risk factors for RP, Thai economies

Surging oil prices, higher interest rates and inflationary pressures are among the leading risk factors that could weigh heavily on the economies of both the Philippines and Thailand, monetary officials of both countries said. In a bilateral meeting attended by Philippine and Thai monetary authorities, the officials agreed that rising world oil prices could derail […]

For a few dollars less

It began with Russia. Over the past few years, the Russian Central Bank has reduced the share of dollars in its foreign currency reserves, and has made no bones about it. Then Indonesia said it, too, was considering such a move. This week, Bahrain’s central bank governor said the euro is increasingly emerging as an […]

Iran, Ukraine discuss transit of Iranian natural gas to Europe

Iranian ambassador to Ukraine Bahman Taherian Mubarakeh met here Wednesday with Ukraine’s Minister of Energy Palachkov, the Foreign Ministry’s public relations department reported. The two officials discussed cooperation in energy sector including the transit of Iranian natural gas to Europe via Ukraine. http://www.tehrantimes.com/Description.asp?Da=2/26/2005&Cat=9&Num=030

Oil price surge defies forecasters

As crude-oil futures climbed above $51 a barrel this week, analysts threw up their hands and wondered why. “None of the historical correlations analysts have used – inventories primarily for oil, storage for natural gas, natural-gas and oil prices for rig counts — work,” said Jim Wicklund, managing director of energy research at Banc of […]

Oil consuming countries warn on high prices

Oil consuming countries on Friday reacted with dismay to Saudi Arabia’s prediction that oil prices would remain between $40 and $50 a barrel for the rest of this year.

Senior officials from the US, the European Union and the International Energy warned that sustained high oil prices could eventually hurt global growth.

FT

Indoneisa: Students hijack fuel truck yet again

For the umpteenth time, on Wednesday February 23 students from the South Sulawesi provincial capital of Makassar have again hijacked fuel tankers. This time, after hijacking two kerosene tankers they drove them round and round the city.

asia-pacific-action.org

Carbon rush at World Bank

The Kyoto Protocol requires industrialized country signatories to reduce their emissions by 5.2% below 1990 levels during the 2008-12 commitment period. However, the scientific community has determined that, to avoid dangerous climate change, greenhouse gas emissions reductions of over 60% below 1990 levels were necessary by 2000, rendering the commitments made at Kyoto insufficient. Moreover, […]

Energy efficiency labels to take effect

By Wang Ying and Qin Chuan (China Daily)
Updated: 2005-02-26 09:01

China plans to label household air-conditioners and refrigerators starting Tuesday, according to the China National Institute of Standardization (CNIS).

The institute is authorized to collect information on energy efficiency required for the labels.

The labels, which provide energy consumption and efficiency information of each product, aim at improving the public awareness of energy conservation and encourage home appliance manufacturers to produce energy-saving products, according to Lin Ling, a senior engineer in charge of the programme from CNIS.

The labels will be classified into five categories to indicate different levels of energy efficiency. Products below the fifth level will be banned from the market.

China Daily

Report doubts future of wind power

Wind farms are an expensive and inefficient way of generating sustainable energy, according to a study from Germany, the world’s leading producer of wind energy. The report, which may have ramifications for the UK’s rapidly growing wind farm industry, concludes that instead of spending billions on building new wind turbines, the emphasis should be on […]

US Airways gives back 11 Boeings

US Airways will return 11 Boeing 737 aircraft to the company it leases them from – starting in May – the company said on Friday. High fuel costs and a low-fares environment coupled with over-capacity in the airline industry has forced US Airways to take this step. The return of aircraft will result in the […]

BP starts Clair field oil production

BP PLC began production Feb. 21 from Clair oil field off the UK west of Shetland. Plateau production is expected to be 60,000 b/d of oil and 15 MMcfd of natural gas, the company said. Oil from the field will move to the Sullom Voe terminal in Shetland through a 105 km, 22-in. pipeline. Gas […]

The Instruments of Rebalancing – Stephen Roach

Global rebalancing does not occur spontaneously. It takes adjustments in economic policies and asset prices to spark a meaningful realignment in the mix of global growth. Shifts in currencies and real interest rates are the two major instruments of rebalancing. The ideal prescription for today’s lopsided US-centric world would be a combination of dollar weakness […]

U.N.: World Population to Hit 9B in 2050 (AP)

AP – The world’s population will increase by 40 percent to 9.1 billion in 2050, but virtually all the growth will be in the developing world, especially in the 50 poorest countries, the U.N. Population Division said. Yahoo

Making the best of garbage gas

Methane generated by rotting rubbish in landfill dumps could make a far greater contribution to the world’s energy supply. A new way of harvesting the gas should mean that many landfill dumps that till now were thought to be too small to produce usable amounts of the gas will be able to provide a viable […]

A New Approach to Estimating Hydrocarbon Resources

USGS & the ‘fractal method’ (dated January 1995) USGS (Via Energyresources)A New Approach to Estimating Hydrocarbon Resources January 1995 ——————————————————————————– “As the principal Federal agency responsible for estimating the amount and distribution of hydrocarbon resources, the U.S. Geological Survey explores new methods for estimating the remaining undiscovered resources. A new method using fractal statistics greatly […]

BP’s Browne Soothes Investors’ Concerns

BP’s experience in Russia has been positive despite concerns raised among overseas investors by the government’s move to take over Yukos, BP CEO John Browne said Wednesday. “I think it is fair to say that the experience of investing in Russia generally has been very positive, with the usual ups and downs,” Browne said in […]

Australian PM rejects as alarmist warning that US deficits risk crash

Australian Prime Minister John Howard dismissed as “alarmist” a warning by the government’s chief economic adviser that the United States was heading for a financial crash that could ravage the global economy. Secretary to the Treasury Ken Henry said Thursday the United States’ current account and budget deficits were creating imbalances in savings and investment […]

Oil and the US consumer will determine how this global growth story ends

The oil price surges past $50 a barrel, fears mount that Asian central banks will cease to pile up dollar securities – and the dollar duly falls, pulling equity markets down with it. So what is new? Well, in one sense, nothing really. The last few days have seen a return to the jitters of […]

The future cost of oil

Simmons presentation:

Simmonsco-Intl

IOC, OIL plan to bid for two blocks in Myanmar

State-owned refiner Indian Oil Corp and its exploration partner Oil India Ltd plan to bid for two onshore oil and gas exploration blocks in Myanmar. IOC-OIL combine had late last month bagged an oil block in Libya, the first ever overseas block won by an Indian firm through the competitive bidding route. IOC-OIL combine, who […]

Big oil, SEC differ on calculation of petroleum reserves

Big oil threw down the gauntlet in a battle with U.S. regulators over how to calculate a crucial measure of the industry’s long-term health: how much oil and natural gas it has in the ground. A report released Wednesday by an industry consultant — and bankrolled with help from most of the world’s major oil […]

For economic growth, tougher environmental laws?

When tiny Clipper Windpower builds its first factory, perhaps this year, it will automatically become America’s second-largest manufacturer of wind turbines. The Carpinteria, Calif., company even has a hot new technology that should be a sure thing. But it’s still hunting for financing because being a wind-turbine builder in the United States is tough, so […]

Coal or Nuke, Coal or Nuke

But the country is also, crucially, abandoning its nuclear programme – planning to phase reactors out completely by 2020. Some in the industry – including advocates of renewable energy – have called this a “contradiction”. “It is a fact that nuclear plants work without CO2 emissions,” Petra Ullman, of energy company Eon – which runs […]

Saudis see no easing of oil prices

Saudi Arabia, the world’s largest oil producer, on Thursday signalled a dramatic shift in the oil market towards sustained higher prices by predicting prices would be between $40 and $50 a barrel for the rest of the year. The comments by Ali Naimi, the Saudi oil minister, marked a break with tradition. It is the […]

1978 oil reserve reporting system needs overhaul to promote investment

HOUSTON, Feb. 24 — The US Securities and Exchange Commission’s system for reporting oil and natural gas reserves needs to be modernized to accurately describe existing asset values, Cambridge Energy Research Associates said in a recent report.

CERA released a lengthy report entitled “In Search of Reasonable Certainty: Oil and Gas Reserves Disclosures” during a Feb. 23 teleconference based in Washington, DC. Last year, the issue drew the attention of regulators and investors after Royal Dutch/Shell Group and other companies downgraded reserves (OGJ, Feb. 21, 2005, p. 5).

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