Indonesia misses out on oil market windfall

Roaring all day from the top of a chimney at a state-owned refinery here, a 10-meter-high roiling column of orange flames spewed vast clouds of black smoke visible from far away. . A 12-year-old compressor had broken down, refinery officials explained, and huge quantities of valuable propylene were being burned off for safety reasons. Indonesia’s […]

Oil production in Riau (Indonesia) down by 10 percent annually

PT Caltex Pacific Indonesia, the country’s largest oil producer situated in Riau province, is facing a sharp decrease in production by around 10 percent annually due to the reducing oil reserves in its aging wells. The company’s president director, Wahyudi Yudiana Ardiwinata, said Caltex was struggling to maintain its production level. “It is not possible […]

Playing With Frozen Fire

More energy is trapped under the sea as frozen natural gas than is stored in all the world’s oil reserves — and researchers this week took a step toward tapping it.

Vast reserves of methane hydrates — a form of natural gas — could power the world for decades to come. But mining the deep, frozen deposits presents an enormous technical challenge.

Wired

First Hydrogen Car for Sale in 2012

DaimlerChrysler’s first hydrogen-powered car using fuel cell technology will be on sale from 2012, a company executive said on Wednesday.

The firm has sent 60 Mercedes-Benz A-Class cars to Japan, Germany, Singapore and the United States for tests. Many car companies are developing hydrogen-powered cars to help wean the globe off diminishing oil supplies.

Reuters

White House Studies $4 Gallon ‘Nightmare’ Scenario

President Bush’s inner circle has become preoccupied with soaring gas prices and its toll on the economy, a well-placed White House source said over the weekend.
Bush has quietly asked for a review of any and all economic fallout on the nation if gas prices continuing racing up and over the psychological line of $3 a gallon, as they have in recent weeks in some locations, the source explains.
Bush’s top economic advisers have conveyed to the president that a “nightmare” scenario of $4 a gallon is extremely unlikely in the short term.
“The seasonal run-up of gas prices has been tough this year, but like every year in the past two decades, we expect we will will see some easing,” the source claims from Washington.

Drudge Report

Harper(BP) APPEX 2005 Presentation

This presentation is well worth a look.

look

Want To Know How To Drive Cheaper In The US?

The United States Department of Energy

Presents www.FuelEconomy.gov

Everything you need to know about how to pay less for gasoline in the US.

MPs blame gas and oil industry for supply crisis

By Andrew Murray-Watson (Filed: 20/03/2005) The influential Commons Trade & Industry Select Committee will this week publish a report that lays the blame for this winter’s narrowly averted gas supply crisis at the door of the oil and gas industry. The report by the committee, chaired by Martin O’Neill MP, will say that the industry […]

Galvanize Research and Development for Alternatives to Oil

Why is selecting and developing alternatives to oil so very important? Consider three reasons: Oil is a hydrocarbon whose natural product of combustion is carbon dioxide, which increases global warning. Oil is easily the number one source of energy, meeting 38.7 percent of the world’s demand, and 63 percent of oil reserves are located in […]

Malibu gas station already charging more than $3 a gallon

MALIBU, Calif. Are Californians ready to pay three dollars a gallon for gas? Some already are. The 76 Union station on Pacific Coast Highway in Malibu is doing brisk business despite self-serve pumps selling regular unleaded at three dollars, five cents a gallon and supreme unleaded at three dollars, 15 cents. For Malibu residents who […]

America Smells the Coffee

By Stephen Roach Tipping points are a great concept, but virtually impossible to identify ahead of time — let alone when they are occurring.  It is only with the great luxury of hindsight that we can look back and know that the proverbial bell has rung.  In my view, March 16, 2005 could end up […]

Europeans Protest Iraq War on Anniversary

By JANELLE STECKLEIN, Associated Press Writer

LONDON – Thousands of anti-war protesters gathered in cities around Europe on Saturday to mark the second anniversary of the U.S.-led invasion of Iraq (news – web sites).
The protests were unlikely to match in size those held in February 2003, a month before the war started, when millions took to the streets around the world to urge President Bush (news – web sites) and his allies not to attack Iraq.

AP via Yahoo.

Worldwide protests mark Iraq war

Protests have been taking place across the world marking two years since the start of the war in Iraq. Thousands turned out in Japan and Australia to complain about their countries’ involvement in Iraq. People have been gathering in London for a rally expected to attract tens of thousands, with events also taking place across […]

Fear and loving of hot commodities

The front page of the business section in a national Canadian newspaper The Globe and Mail is a feature on commodities. Further into the article, peak oil is discussed: Mr. Sprott has been tarred as one of the biggest bears on the Street. And while it’s true that he has a pessimistic view of the […]

The last snows of Kilimanjaro

Kilimanjaro, literally the “mountain of snow” is a place where God was said to live, a provider of water for the local Chagga people and, today, the single largest source of tourist dollars in a struggling economy. But the ice is melting and once it is gone there is a real concern that the 20,000 […]

IMF Chief: Oil Prices High for 2 Years

The world will have to live with lofty oil prices for at least the next two years due to a combination of strong demand and supply constraints, Rodrigo Rato, the managing director of the International Monetary Fund, said on Saturday. With output already near a 25-year high, [OPEC] is stretched to meet demand growth. Other […]

G8 to tackle illegal timber trade

Environment and development ministers from the G8 group of leading countries have committed themselves to tackling the problem of illegal logging. They have also agreed that action is needed to protect Africa from the consequences of climate change. Britain’s Environment Secretary, Margaret Beckett, said there had been “an interesting dialogue”. “What was most noticeable was […]

Opec fails to calm record market

By Adam Porter in Perpignon, France … One thing Lasserre does not agree with is the growing band of analysts who are talking of a peak in global oil production, commonly known as peak oil. “Sure, oil is a limited resource, so one day it will happen. But now we disagree that this theory has […]

Geothermal Heat Pumps

US Department Of Energy Energy Efficiency and Renewable Energy Bringing you a prosperous future where energy is clean, abundant, reliable, and affordable. Summary: This fact sheet will provide you with an overview on how a geothermal heat pump (GHP) can provide an energy-efficient way to heat and cool your home.Click Me!

High gas prices fuel economic hardship

By Joseph Mann and Michael Turnbell Staff Writers Posted March 19 2005 …If crude prices remain at levels above $55 a barrel or more, pump prices will continue to rise as higher priced crude passes through the U.S. and gas distribution system… …Mark Kerney, president of Hill-York Service Corp., a Fort Lauderdale air-conditioning repair service […]

Motorists face £4 gallon ($7)

The surge in the oil price – caused by fears of a global shortage – raises the spectre of the £4 gallon at the pumps by the time of the General Election, experts said.The rises were sparked by reports that America’s oil reserves are far less than expected – raising fear of shortages that will […]

Decade of cheap petrol is over, warn experts

Motorists are facing further petrol price rises after crude oil hit a record high this week with experts and oil-producing countries warning that a decade-long period of cheap energy is now over. With pump prices already at an average of 82.5p a litre for unleaded and 87.1p for diesel, the latest surge in crude, which […]

Road hauliers fear fuel cost rise

Rising diesel costs mean many transport businesses are struggling to survive, road hauliers have said. The Road Haulage Association said if prices continued to surge, some hauliers would go out of business. Observers say this week diesel prices matched the highest on record, achieved briefly last October, when they hit more than 87p a litre. […]

EU’s Hydrogen and fuel cell future research strategy revealed

Friday 18 March 2005 – 08:35
Hydrogen meets two essential needs of European policy: reduced energy dependence and reduced greenhouse gases.

The EU recognised the potential of hydrogen and fuel cells a long time before a high level group was asked, in October 2002, to define the basis for an integrated vision of the EU’s strategy on hydrogen and fuel cells and their role on sustainable energy policy. In its final report ‘Hydrogen and fuel cells: A vision of our future’, the group recommended the establishment of a ‘Hydrogen and fuel cell technology platform’ (HFP), to define and carry out concrete research and development actions in the area.

Euractiv

Oil, Interest Rates a 1-2 Punch?

The United States rode out $55 a barrel oil last fall. But some economists say the latest jump in that key commodity poses a greater threat to the nation’s economic growth. Those economists say that the combination of rising oil prices and rising interest rates constitute a one-two punch for the economy that will be […]

High price of oil may force lifestyle changes

Finally, some mainstream press coverage in the U.S., in which peak oil was discussed and debated, including this quote… “Think European,” said Charles T. Maxwell, senior energy analyst at Weeden & Co. in Greenwich, Conn. “Europe already has high taxes on fuel. Their communities grow up, not sprawl out. They have better public transportation – […]

Green power runs out of puff

The short-sightedness and ignorance of politicians in the face of the looming world-wide energy crisis appears to have no bounds. Here is an example from Australia: The [Australian] renewable energy industry has suffered a severe setback with a collapse in prices putting many proposed wind farms in jeopardy.Industry proponents blame Federal Government policies and the […]

Hubbert’s Other Prophecy

I was browsing the net, and came across the seminal article by M. King Hubbert Nuclear Energy and the Fossil Fuels. Now looking at the document, I find it incredible that a) People look upon Hubbert as a doomsayer, and b) they totally ignore the solution that he posits for the problem of peak.That solution […]

Dollar Rises Against Euro as U.S. Yield Advantage Boosts Demand

March 18 (Bloomberg) — The dollar rose the most against the euro in more than a month as the advantage in U.S. bond yields boosted demand for the currency. March 18 (Bloomberg) — The dollar rose the most against the euro in more than a month as the advantage in U.S. bond yields boosted demand […]

Cheney: US To Weather Current Bout Of High Oil Prices-CNBC

NEW YORK -(Dow Jones)- U.S. Vice President Dick Cheney acknowledged Friday that current high oil prices will have a “bite” on the economy, but also noted that oil is less important now for the economy than 15 or 20 years ago. “We think we’ll be able to weather this. There’s no question energy’s a problem […]

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