The invisible hand preventing an energy crisis

As oil prices race toward US$60 per barrel it may seem paradoxical to say that we are not heading for an energy crisis. Undoubtedly for the short to medium term oil consumption will increase, which will continue to put pressure on oil prices and global growth. However, energy shortages as seen by the queues at […]

Peak Oil and Mirage Realism

Realism is the philosophical notion that what our scientific theories tell us about the world are more or less, or approximately true. Scientific theories are generally considered to be the pinnacle of human knowledge. Although ultimately fallible and always up for revision the scientific method for discovering knowledge has, certainly in the West been shown […]

Gas prices continue to soar, crippling airlines, truckers

Bay Area gas prices continued to soar over the past month, AAA of Northern California said Tuesday. The higher prices OaklandTribune

Higher Asia Pacific gas prices tipped

Gas prices will rise in the Asia Pacific region as advances in technology make it easier to ship gas around the world, a US-based oil company has said. Gas buyers in the region have long had the upper hand in sales negotiations due to their geographical isolation from most of the world’s major gas producing […]

Rising oil could cloud Asian’s economic outlook

When the Asian Development Bank released its annual economic outlook last Wednesday, the message was that Asia would stay on a high-growth path for the next three years. . But even as the bank issued a glowing forecast of 6.5 percent to 6.9 percent growth for the region, some of its underlying assumptions were being […]

High oil prices appear to be curbing demand

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. Recent moves by some Asian countries to cut fuel subsidies had curbed demand, the International Energy Agency said in its April monthly report. […]

Israel Presents Aerial Photos of Iran Nuclear Sites to Bush

Ariel Sharon

Reaping powerful ideas from a luminary

by Sam Dinkin Monday, April 11, 2005 Economics Sam Dinkin: How is lunar solar power (LSP) different from Earth solar or orbital solar power generation? David Criswell: The Moon has no atmosphere, rain, or clouds to block sunlight as does the Earth. Doing the construction on the Moon is far less expensive than sending raw […]

Oil Falls to Six-Week Low After IEA Cuts Global Demand Forecast

Crude oil fell to a six-week low in New York, the seventh drop in eight days, after the international Energy Agency reduced its forecast for world fuel demand. The agency yesterday cut its 2005 estimate by 50,000 barrels a day, the first reduction in four months, citing slowing demand from China, the world’s second-largest consumer. […]

Japan risks anger China over gas deposits

Japan has begun the process of allocating rights for gas exploration in an area of the East China Sea also claimed by China.

It is a move which will worsen the diplomatic row with Beijing.

It comes after a weekend of sometimes violent anti-Japanese demonstrations in China.

The protests were sparked by Tokyo’s approval of history textbooks that critics say play down the country’s wartime brutality.

BBC

Fed worries grow on US inflation

Inflation is a growing concern in the US economy and interest rates may have to rise to nullify the threat, the Federal Reserve has indicated. Minutes from the Fed’s monetary policy meeting in March – at which it raised rates by 0.25% to 2.75% – suggest more concern about inflationary pressures.

Japan: The ‘Unilateralist’ of Asia? – Marshall Auerback

Throughout the 1950s and 1960s, East Asia was the site of some the most costly wars during the era of the Cold War. But the collapse of the Soviet Union, the region has been a comparative bastion of peace and stability. In recent years, however, that has begun to change as old historic rivalries, whose […]

US drivers fume as gas prices soar

There are increasing signs that US motorists are changing their driving habits in the face of record prices at the fuel pumps. While the US love affair with the motor car is far from over, consumer dismay has greeted the latest predictions that the average price of petrol will hit $2.35-a-gallon during the peak summer […]

Climbing oil prices expected to hit hard

This time, the rise in global oil prices is likely to do some damage to the U.S. economy. That’s the view of an increasing number of economists who are beginning to reduce their growth forecasts for the third and fourth quarters. Unlike the temporary surge of 2004, which landed the economy in what Federal Reserve […]

Will Iran really be attacked by America or there is more to it than can be seen

Iran does not pose a threat to the United States because of its nuclear projects, its WMD, or its support to

Efficiency of Ceiling Fans Under Debate

By H. JOSEF HEBERT, Associated Press Writer WASHINGTON – The efficiency of ceiling fans may not be at the center of the country’s energy debate, given record high gasoline prices. Yet the issue has become a focus of critics, including congressional Democrats, who complain Congress is not doing enough to address conservation as part of […]

China Steps onto the Global Stage

For the past two decades, China has been flexing its economic muscles as it builds itself into a global powerhouse. Yet when it comes to politics, Beijing often has taken a back seat, letting the U.S. and other powers carry the day. That’s about to change. Yahoo

Soaring oil price raises factory bills

Soaring oil prices boosted manufacturing raw material costs to a record high last month, figures out today showed. Costs grew by a seasonally adjusted 1.8 per cent between February and March against 0.4 per cent the previous month, National Statistics said. The higher-than-expected growth and upward revisions to FebruaryBusiness Times Online

Fuel prices exacerbate airlines’ endemic problems

A casual observer of the struggling airline industry might think the nation’s biggest carriers are either inept for losing billions of dollars with no end in sight, or pretty clever for managing to stay in business through it all. Neither image would be fair. The bulk of the industry, whose first-quarter results come out this […]

U.S. Trade Deficit Widened to Record $61 Bln in Feb.

The U.S. trade deficit surged to a record $61 billion in February, driven by a jump in oil prices and imports of Chinese textiles as well as foreign-made pharmaceuticals. The 4.3 percent increase in the trade gap for goods and services followed a 5 percent rise in January to $58.5 billion, the Commerce Department said […]

Turkmens, Afghans, Pakistanis in Gas Pipeline Talks

Pakistani, Turkmen and Afghan ministers met on Tuesday to discuss a multi-billion gas pipeline, in particular, the size of Turkmen gas reserves and security in volatile Afghanistan. The long-delayed project envisages a $3.3 billion pipeline running 1,000 miles through Afghanistan to Pakistan, providing Kabul with transit revenue and Pakistan with much needed energy

IEA Chief Says OPEC Will Be Able to Meet 4Q Oil Demand

The head of the International Energy Agency, Claude Mandil, said Monday there would be no problem with Organization of Petroleum Exporting Countries crude supply meeting global oil demand in the peak-demand fourth quarter this year. Speaking to reporters on the sidelines of a Russian investment conference here, Mandil said: “We expect that the call on […]

Bill would let states override moratoriums

Sens. Lamar Alexander (R-Tenn.) and Tim Johnson (D-SD) have introduced legislation that would give governors the power to override federal drilling bans and approve exploration and production off their states. “This is not a question of tweaking our natural gas policy. It is time to aggressively revamp it,” Alexander said in an Apr. 6 news […]

Heading For Peak: Skrebowski’s Oilfield Megaprojects Update

Since its first appearance more than a year ago, UK Petroleum Review Editor Chris Skrebowski’s Oilfield Megaprojects Report has come to be regarded as a new and vital milepost on the way to Peak Oil. For Global Public Media, Julian Darley asks Chris to explain the complexities of global depletion and new supply, and why […]

FUEL CRISIS? WHAT FUEL CRISIS? (Thailand)

With the price of petrol and diesel on the increase, more motorists are looking at alternative fuels BangkokPost

Bank says Saudi’s top field in decline – Adam Porter

Speculation over the actual size of Saudi Arabia’s oil reserves is reaching fever pitch as a major bank says the kingdom’s – and the world’s – biggest field, Gharwar, is in irreversible decline. The Bank of Montreal’s analyst Don Coxe, working from their Chicago office, is the first mainstream number-cruncher to say that Gharwar’s days […]

Russian gas to flow to Europe via Baltic Sea

Germany and Russia announced agreement Monday to build a North European Gas Pipeline under the Baltic Sea that will allow Russia’s energy giant Gazprom to deliver gas directly to Western Europe and sharply reduce its dependence on its traditional transit routes through Ukraine and Belarus. . The announcement of the agreement, which will give Gazprom […]

Oil demand on the wane, says think-tank

WORLD demand for oil is more likely to slow down than rush ahead for the first time in two years a leading energy think-tank said today. The Paris-based International Energy Authority said it remained ‘concerned but not alarmed’ with warmer weather on the way, less likelihood of a surge in demand from China’s economic power […]

Nigeria Eyes China Participation In Oil, Gas Exploration

Nigeria wants China, the world’s fastest growing major energy importer, to be involved in oil and natural gas exploration in the country, according to a top Nigerian oil official Tuesday. “The Chinese need a lot of energy, so we’ll be discussing with them the possibility for them to get some upstream assets (in Nigeria),” Edmund […]

Oil Falls for 6th Day on Signs Refiners Will Have Ample Supply

Crude oil fell for a sixth day, the longest decline since October 2003, on signs that refiners will have sufficient supply to make gasoline during the peak demand months of summer. OPEC is “seriously thinking of boosting output, although prices have decreased lately,” Issa al-Aoun, Kuwait’s deputy oil minister, said today. OPEC raised its production […]

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