Energy Discussion in Whitehouse Press Briefing

Press Briefing by Scott McClellan April 13, 2005 Some of the energy related issues from the briefing: -Gas price imapct on economy -Energy Plan -President to deliver speech next week on energy -Prevent price gouging -more… Q Scott, on the subject of gas prices, what’s the President — can you detail for us the President’s […]

US Congress Doesn’t Get P.O.

The House Energy and Commerce Committee approved the Republican-authored Energy Policy Act of 2005. The legislation would create mandatory reliability standards for the nation’s transmission grid operators, increase oil and gas exploration on federal lands, speed up permit approval for the construction of new refineries, authorize funding for clean coal projects, and mandate the use […]

Economies stare down $105 barrel

WROTE a letter to a newspaper recently in response to an article it published reporting that either the United States or Israel would start bombing Iran if it did not stop its uranium enrichment program. According to the Iranians, this enriched uranium is to be used for producing electricity, not an unreasonable objective given that […]

IMF warns of high oil price risk

Rising oil prices pose an increasing threat to global economic growth, the International Monetary Fund has warned. In its twice yearly assessment of global economic prospects, the IMF said it expected “solid expansion” in 2005, albeit at a slower rate than 2004. However, it stressed that continued volatility in world oil prices could hamper economic […]

Investment firm predicts $5 gas. Analysis says ‘perfect storm’ brewing to worsen

A leading investment firm says the conditions of a “perfect storm” are brewing in the economy that could see oil prices skyrocket to $200 a barrel and gas prices to $5 or higher. According to an analysis by Swiss America, such a scenario could “lay waste” to millions of investors’ portfolios.

The end of oil?

WHEN OIL prices topped a record-breaking $58 a barrel recently, it unleashed a flurry of debate about the future direction of energy prices. The investment firm Goldman Sachs released a report speculating that the oil market may be at the beginning of a

Indonesia May Become an Oil Importer as Output Slides

Indonesia, Southeast Asia’s only OPEC member, may become a net oil importer this year as projects led by ConocoPhillips, Unocal Corp. and PetroChina Co. fail to stem falling output, helping to boost fuel prices to records. The country may turn to importing a net 61,000 barrels a day this year from net exports of 27,000 […]

The future of oil production calls for changes to be made now

The average price of unleaded gasoline in the United States is expected to peak at $2.35 per gallon in May, as rising crude oil prices push up the cost at the pump. Although oil companies showed record profits in 2004, heating oil prices hit a record of $2.06 per gallon, adding to the already obscene […]

Earth To Humankind

Back Off, Say good-bye to your car, computer, everything. We are burning up the planet too fast to hang on The Earth is going down. Way, way down. To the mat, hard and painful and with a sad moaning broken-boned crunch.

Peak Oil Slowly Seeping Into National Conciousness

But by the time Hollywood makes the “Day After Peak Oil” fiction may be all-too-real, writes Senior Land Institute research scientist Stan Cox

Oil Flirts with $50 as Inventories Build

Oil fell to a seven-week low near $50 on Wednesday, after the U.S. government reported a ninth straight weekly rise in crude inventories and a build in gasoline stocks ahead of summer. U.S. crude oil futures settled down $1.64 to $50.22 a barrel, deepening Tuesday’s 3 percent decline and hitting the lowest level since Feb. […]

Trying to Understand the Pain at the Pump

By now, you have no doubt been bombarded on CNBC and in the papers about the global oil/supply demand situation. To sum it up in a sentence, we are in a world that uses roughly 80 million barrels a day and that possesses less than 2 million in spare pumping capacity

IMF says US efforts to reduce twin deficits insufficient – German source

The International Monetary Fund has criticised the US’ efforts to reduce its twin deficits as insufficient, a German government source said, citing the IMF’s spring World Economic Outlook report due to be released later today The IMF said the latest data on the US current account deficit were not satisfactory, the source said It also […]

Colombia v. Venezuela: Next Oil War?

“Oilmen are like cats; you can never tell from the sound of them whether they are fighting or making love.” –Calouste Gulbenkian The famous Armenian entrepreneur spoke these words when reflecting on the post-World War I carve-up of oil rights in Iraq and the Persian Gulf at the 1928 summit of top world oil companies […]

House Republicans Dig in Heels on LNG Terminals

House Republicans made clear their support late Tuesday for reinforcing the federal government’s final authority over where liquefied natural gas import terminals can be located, even if states or local communities object. An attempt by Rep. Ed Markey, D-Mass., to remove the provision from proposed energy legislation failed 35-18 in the House Energy and Commerce […]

$100 OIL SOLVES THE WRONG PROBLEM

Alas, a recent forecast by Goldman Sachs projects the price of crude oil to double from current levels. Rest assured that the Optimist would not have been the first to tell you such disturbing and pessimistic news! Since that forecast has already been published around the world, however, the Optimist feels both entitled and obligated […]

Mexico’s Pemex Aims To Spend $1.5B A Yr On Exploration

Mexican state oil monopoly Petroleos Mexicanos (PEM.YY), or Pemex, said Wednesday it needs to spend at least $1.5 billion a year on exploration in order to reach its medium-term reserve replacement goals. In a conference call with investors, Carlos Morales, head of Pemex exploration and production, said that with such investments the company should be […]

OPEC continues to see strong demand, despite IEA forecast

High prices appear to be stemming global oil demand, according to the west’s energy watchdog, which on Tuesday pointed to signs of slower demand in the US, China and other Asian countries. However, the IEA’s forecast of slowing demand was not endorsed by the Organisation of the Petroleum Exporting Countries, which releases its monthly oil […]

Striking picture of Fuel Price Protests

Demonstrators in Manila hold a rally to protest at oil price hikes by major oil companies based in the Philippines.

Original at BBC World pictures (see picture 2).

Two sides to globalization

As an economic, cultural and political phenomenon, globalization is an objective and volatile historical process fraught with contradictions and conflict. From ordinary daily living to major events between states, people in the world have all felt the effects of globalization. The market economy, democratization and cultural integration have penetrated all aspects of society. While people […]

30,000 clash with police in village pollution riot

Hong Kong (AsiaNews/Scmp) – A village in Dongyang, Zhejiang province, erupted in a massive riot on Sunday when over 30,000 villagers clashed with police who were disrupting a protest against pollution. Reports that police had killed some of the elderly women protesters sparked the chaos in Hua Xi village in Dongyang. More than 50 government […]

In a statement delivered before the Senate Committee on Energy & Natural Resources today, The Wilderness Society

Alaskan Oil and Gas to acquire Russian oil firm

Alaskan Oil and Gas said Tuesday it plans to buy 49 percent ownership of an unnamed producing oil company located in Russia. The operating management of the Russian company has 10 years of experience and is involved in various aspects of oil production, according to Houston-based Alaskan Oil and Gas. Alaskan Oil and Gas said […]

Oil smuggling goes into reverse in China

Truck and mini-van drivers shuttling between Hong Kong and the Chinese border city of Shenzhen are earning extra income from selling a tankful of petrol, or more, bought on the mainland. They find eager buyers such as lorry driver Ah Man, a mover who spends nearly a third of his HK$15,000 (1,000 pound) monthly income […]

Global Warning

Social critic James Howard Kunstler has railed for years against the twin evils of bad urban design and suburban sprawl. Based in Saratoga Springs, the author of The Geography of Nowhere and Home from Nowhere warns that our beloved cars — and the subdivided landscape they drive us to — are leading American culture down […]

Head to head: Wind farms

A rally is being held on Saddleworth Moors, near Greater Manchester, to protest against plans to site seven 350ft wind turbines there. The spread of wind farms across the UK has divided public opinion. A supporter of and a campaigner against wind turbines set out their cases. BBC

Crop archive shows pollution link

Scientists have used the world’s oldest, continually running field experiment to show how air pollution affects fungal diseases in wheat. Dr Bart Fraaije and his team used these to show a relationship between two fungal pathogens in plants and the amount of atmospheric sulphur dioxide. The species, Phaeosphaeria nodorum and Mycosphaerella graminicola, are responsible for […]

Natural gas, oil spilled at Prudhoe Bay drill site

About 1.4 million cubic feet of natural gas and an unknown quantity of crude oil spilled yesterday at a Prudhoe Bay drilling site operated by BP Exploration (Alaska), state environmental regulators

Jiabao proposes China-India-Russia strategic ties

Chinese premier Wen Jiabao, on Tuesday, when asked about an India-Russia-China strategic partnership and the issue of multipolarity vis-a-vis the sole superpower, said it must in no way be seen as an “alliance” targeting another country. Given the Chinese art of obfuscation, reading Wen’s lips alone may not be enough. Certainly not for the Americans.IndiaMonitor

China makes first investment in Alberta’s oil sands

China has made a small leap forward into Alberta’s oil sands, snapping up a stake in a low-profile private operator as a “footstep” into the world’s second-biggest reserves of oil. China National Offshore Oil Corp. — publicly traded but state-controlled — said yesterday that it has bought a one-sixth share in Calgary-based MEG Energy Corp. […]

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