Diesels snag spotlight from hybrids

Each year at this time, we release our annual guide to the most fuel-efficient cars on the market. This year the big news is not gas/electric hybrids, as it has been for several years, but diesels — which are on the rise.e

Doomed to Invest in Russian Oil

At a recent industry conference, LUKoil President Vagit Alekperov was asked about the prospects for foreign investment in Russia’s petroleum sector. The question came only five days after a public statement by Natural Resources Minister Yury Trutnev that auctions to develop certain major oil, gas and mineral fields would only be open “to those companies […]

Rising dollar delivers extra March break to stateside vacationers

To add to the pressure on the U.S. dollar, further evidence that Asian banks are diversifying away from the currency came Monday with a report from the Bank for International Settlements (BIS).

Globe and Mail

Dow Chemical Canada Inc. alarmed over high natural gas prices

Dow Chemical Canada Inc. alarmed over high natural gas prices By PATRICK BRETHOUR Wednesday, March 9, 2005 Updated at 4:30 PM EST CALGARY — Soaring natural gas prices are gutting Canada’s competitive advantage in petrochemicals and driving high-paying jobs out of the country, the head of this country’s biggest petrochemical company said yesterday. Ramesh Ramachandran, […]

Oil Surges to 4-Month High in New York After U.S. Supply Report

Crude oil rose to a 4-month high, after a report showing a U.S. inventory increase failed to damp concern about supply shortfalls this summer. Bloomberg.comCrude oil rose to a 4-month high, after a report showing a U.S. inventory increase failed to damp concern about supply shortfalls this summer. Crude-oil supplies gained 3.2 million barrels to […]

Crude oil sets new high in London

Crude oil continued its record-breaking run, setting a new high in London amid fears that demand will outstrip supplyA barrel of benchmark Brent Crude oil touched $53.32, the highest since trading began in 1988, before slipping back to trade at $53.10. In New York, US light crude oil was selling for $54.85 a barrel, close […]

Aljazeera’s Take On the Hirsch Report

US report acknowledges peak-oil threat
By Adam Porter in Perpignan, France

It has long been denied that the US government bases any policy around the idea that global oil production may be in terminal decline.
…
This report is the clearest signal yet that the U.S government is taking the subject of “peak oil” seriously. Yet it remains to be seen what actions can be taken to stop this potentially “revolutionary” change.

Al Jazeera

Bankruptcy Bill on Brink of Passing

A sweeping overhaul of bankruptcy rules long sought by credit card companies and banks seemed poised to become law after two key Senate votes Tuesday. The legislation, a top item on the Republican agenda, would force more people who file for bankruptcy to pay back some of their debts.

Country switches on to energy efficiency

How to meet the soaring demand for resources has become one of the most pressing challenges faced by China. And a press conference held by the ongoing Chinese People’s Political Consultative Conference (CPPCC) yesterday has added to the sense of urgency on this issue. China’s expanding appetite for everything from grain to gas, from oil […]

Iran plans reforms to oil industry

Iran, the second largest producer in the Organisation of the Petroleum Exporting Countries, is planning reform to make its oil projects more attractive to international energy groups. Speaking before next week’s Opec meeting in Iran, Mohammad-Hadi Nejad-Hosseinian, deputy oil minister, said Iran was “improving” the buy-back scheme under which foreign companies can operate in the […]

Commodity Prices Climb to 24-Year High on Global Demand Growth

March 8 (Bloomberg) — Commodity prices surged to a 24-year high, led by gains in copper and crude oil, on concern that global economic growth is eroding inventories of raw materials faster than supplies can be replenished. Copper reached a 16-year high, and oil rose near a record in New York, extending the rally in […]

Andrew Nikiforuk on High Noon for Fossil Fuels

9 March 2005 In Brief: Enagaging series that examines the wealth generated from fossil fuels in Alberta, how Canadians are consuming and exporting these natural resources, and what Canada’s energy future holds In this six part series on CBC radio in Canada, Governor General Award winner Andrew Nikiforuk speaks with Donna McElligott of Wildrose Country […]

Australian Politician Goes on record about Peak Oil and Gas

we will soon be faced with the effects of the rundown of the world’s oil reserves after the advent of peak oil. Peak oil represents the most serious and immediate challenge to our prosperity and security. It will impact on our lives more certainly than terrorism, global warming, nuclear war or bird flu. While it may not be a term with which members are familiar now, I predict it will come to dominate debate in this place over the next 10 years.

Global Public Media

Peak Oil Mentioned In Bloomberg Article

Crude Oil and Gasoline Surge on Signs OPEC Won’t Rein in Prices March 8 (Bloomberg) … Revised Forecasts Oil prices will rise through 2008 and stay high thereafter as demand increases and concern mounts that global production is nearing its peak, according to analysts at Lehman Brothers Holdings Inc. “We are in new historical territory,” […]

Expect $2.15 or higher gasoline

Gasoline prices probably will jump an additional 15 cents this spring and remain well above $2 a gallon through the heavy driving season, forecasters say. There’s also little relief in sight for crude oil prices, which are pushing gasoline costs higher. Crude prices probably will remain “near the high to mid-$40” a barrel range well […]

Is the Amazon forest dying?

As the light plane banked left, the smell of smoke reached the cockpit. The landscape below was an ashen green, the sun above an orange glow behind sooty billows of grey. The Amazon forest was burning, and it was more than a sign of human encroachment. It was also the sight and scent of a […]

Shipbuilders to Enjoy Boom for Next 10 Years

South Korean shipbuilders will maintain their lead in the global market for the next decade, controlling over 40 percent of new orders around the world, a lobby group for Korean shipbuilders predicted Tuesday. The Korea Shipbuilders’ Association (KSA) said in a report that the outlook for growth for Korean shipbuilders will remain bright for at […]

US bullish in 2005 oil price forecast

The US government on Tuesday emerged as one of the most bullish forecasters of oil prices, raising its outlook for this year to nearly $50 a barrel. The report by the US Department of Energy pushed Brent crude futures, the European benchmark, to an all-time high in nominal terms of $53.20 a barrel. The rising […]

‘Energy corridor’ proposal accepted by India: Aziz

Prime Minister Shaukat Aziz said on Tuesday that India had accepted Pakistan’s proposal for an ‘energy corridor’ and the Indian petroleum minister would be invited for talks on the project. Later, it would be taken up with the Iranian petroleum minister, he added. “The government is striving to improve Pakistan’s relations with all countries in […]

Oil prices flirt with record highs

Oil prices brushed within 60 cents of a new record, over $55 a barrel, on Tuesday as cold weather boosted fuel demand in U.S. Northeast, the world’s largest heating oil market. Growing signals that OPEC will not increase output at its meeting in Iran next week and weakness in the U.S. dollar also bolstered prices. […]

How oil and gas could be the new dot-com bubble

MARKET enthusiasm for any one sector is a dangerous thing. If shares in any industry rocket, it’s time to jump ship. City bulls are never in it for the long term. The most famous example is technology, or dot-com. The late 1990s internet bubble is the most notorious since its South Sea ancestor, costing investors […]

Oil Production and Consumption for Certain Countries

These graphs show the relative oil “production” and oil demand amongst certain countries whose strategic interests may be in conflict. Time will tell. http://www.hubbertpeak.com/nations/2004/

Senator To Call For SPR Oil Release

US Sen Schumer, Others To Call For SPR Oil Release NEW YORK -(Dow Jones)- U.S. Sen. Chuck Schumer, D-N.Y., and others will call on the Bush administration Wednesday to tap the country’s Strategic Petroleum Reserve to bring down gasoline prices ahead of the summer driving season, Schumer’s office said Tuesday in a statement. The call […]

Bill Would Permit DOJ, FTC To Act Against Oil Collusion

Bill Would Permit DOJ, FTC To Act Against Oil Collusion WASHINGTON -(Dow Jones)- Two key U.S. senators on antitrust issues introduced a bill to permit the Justice Department and Federal Trade Commission to bring actions against foreign states, such as members of the Organization of Petroleum Exporting Countries, for collusive practices in setting the price […]

Special Report: Gas Pains

CNN

Clock ticking on fusion decision

Europe has made it clear it will not wait beyond June to reach international agreement on where to site Iter, the experimental nuclear fusion reactor. Fusion could help fill the void as the world moves away from oil, coal and natural gas The fusion fuels are plentiful and produce no greenhouse emissions when “burnt”. The […]

GAS PAINS

Experts say gasoline prices could surge another 25 cents per gallon by month’s end BY HARRY FRANKLIN State Editor … The cost of gasoline continues to climb, with experts predicting it will rise another 25 cents per gallon by the end of March. The increases are credited to the normal spring seasonal increase and a […]

The Militarisation Of Oil

International Perspective, by Marshall Auerback www.prudentbear.com Oil prices spiked to record levels last week, propelled by a rally in petrol prices and a cold snap in the northern hemisphere, against the backdrop of a tight balance between supply and demand. Yes, that’s right, basic “supply/demand”, not “political turbulence in the Middle East”. …Oil, and the […]

What if oil cost $200 a barrel?

08 March 2005 Simon Ratcliffe Business Day Africa IN TWO years’ time the price of oil could reach $200 a barrel. Farfetched? Maybe. Although estimates of oil and gas reserves vary widely, geologists Anders Sivertsson, Kjell Aleklett and Colin Campbell, of Uppsala University in Sweden, are the latest in a growing group of experts who […]

Commodity Prices Climb to 24-Year High on Global Demand Growth

Commodity prices surged to a 24-year high, led by gains in copper and crude oil, on concern that global economic growth is eroding inventories of raw materials faster than supplies can be replenished. Bloomberg.comCommodity prices surged to a 24-year high, led by gains in copper and crude oil, on concern that global economic growth is […]

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