Energy Chief Foresees Nuclear Power Plant

Energy Secretary Samuel Bodman said Tuesday the first new nuclear power plant in more than two decades could be completed by 2014 under administration proposals to reduce construction risks and speed licensing. Bodman said the Energy Department will ask Congress to establish a $3 billion insurance pool to help investors cover interest, operating, maintenance and […]

PNM Resources Chief: Days of Cheap Energy Disappearing

PNM ResourcesKOBTV.com

Energy Secretary Bodman to Visit Saudi Arabia

U.S. Energy Secretary Sam Bodman will visit Saudi Arabia later this year to discuss world oil supply, an Energy Department official said Wednesday. “I can confirm that the Secretary hopes to visit Saudi Arabia later this year,” the official said, declining to elaborate. News of the trip comes amid closer ties between the United States […]

Saudi, US Officials Pledge Response to Tight Oil Markets

James Schlesinger, who became the first US energy secretary nearly 30 years ago, observed that the present oil crisis, “if it is a crisis,” is the first that resulted not from political actions or upheaval but from “steadily increasing demand pressing against supply.” He questioned Bodman’s assertion that high oil prices would stimulate development of […]

Pakistan Grants Exploration Licence To Polish Oil Firm

Pakistan granted a exploration license to state-run Polish Oil & Gas Co., a government statement said Wednesday Pakistan has 27 billion barrels of expected oil reserves of which only 3% have been explored and 280 trillion cubic feet of natural gas of which only 42% has been explored so far

Russia, Norway To Explore,Develop Barents Sea Shelf -Tass

Russian Minister of Industry and Energy Viktor Khristenko and Norwegian Minister of Oil and Energy Torild Widvey expressed the two countries’ intention to explore and develop Russian and Norwegian deposits on the Barents Sea shelf at their recent meeting, the Prime-Tass economic agency reported Wednesday, citing the Russian Ministry of Industry and Energy. Their talks […]

Venezuela Opposes OPEC Output Hike in June

Venezuela is opposed to a production increase at OPEC’s next meeting in mid-June, Oil Minister Rafael Ramirez said Wednesday. “The market is well supplied, we are not in agreement with putting more barrels on the market,” Ramirez told reporters.

Latin states seek more control of oil

Tens of thousands of poor protesters took to the streets in Bolivia this week, demanding that President Carlos Mesa do what Venezuelan President Hugo Ch

China to launch ambitious wind power development

China plans to develop an advanced wind power system by 2010 with a generating capacity of 4 million kw, said Xu Dingming, a senior official with the State Development and Reform Committee (SDRC).

American Airlines CEO says industry in worse shape than a year ago

The chief executive of American Airlines said Wednesday the industry is in worse shape than a year ago due to low fares and higher fuel costs. Gerard Arpey said, however, that American was making progress by reducing costs and finding new ways to raise fees. He noted that parent company AMR Corp. has reduced its […]

US Energy Secretary Traveling To Russia,Seeking New Oil Supply

U.S. Energy Secretary Samuel Bodman will travel to Moscow, Kiev and Baku Sunday seeking additional supplies of oil and pressing for legal frameworks more suitable to investment. Bodman will meet the president of those countries, he said at a conference in Washington Tuesday. “I will go to try to stimulate other supply in that part […]

The Emerging Water Wars

Growing up in Israel in the 1960’s, we were always urged to conserve precious water. Rainfall was rare and meager, the sun scorching, our only sweet water lake under constant threat by the Syrians. Israelis were being shot at hauling water cisterns or irrigating their parched fields. Water was a matter of life and death […]

Once Banned, India Seeks Nuclear Help from U.S.

India, once hit by U.S. sanctions over its atomic weapons program, is now seeking WashingtonDefenseNews.com

Saudi Aramco Aims to Hike Share of Oil Exports to Asia

Some observers predict growing competition for control of resources between rich industrialized nations such as the U.S. and emerging economies such as China. Oil rich countries are actively courting the Chinese and Indians, either granting them stakes in oil fields, or entering partnerships in refineries. “When it comes to maximizing revenue in the future, Asia […]

Ukraine raps Russia oil ‘bullies’

Ukraine’s Prime Minister Yulia Tymoshenko has accused Russian oil companies of trying to “bully” her country by causing fuel shortages. Petrol stations began running out of fuel, 80% of which comes from Russian sources, after Ukraine froze prices.

Looking to 4Q

Oil prices plunged after the government said crude and gasoline inventories rose much more than anticipated last week. U.S. crude inventories rose by 4.3 million barrels to their highest level since May 1999, the Energy Information Administration said. Gasoline inventories rose by 1.1 million barrels. “What we’re seeing now is that gasoline inventories are 7% […]

Mexico looks abroad as oil reforms stay distant

Barred from inviting foreign companies to help develop its own oil sector, Mexico might go abroad itself to produce oil and gas in places like Peru and Bolivia, energy minister Fernando Elizondo said on Monday Heavily dependent on oil for its economy and struggling to develop new oil and gas fields at home due to […]

Peak Oil: Malthusians ride again?

“I don

Saudi official seeks to dispel Peak Oil flap

Al-Naimi said the challenge for the global energy market is greater than just increasing crude oil capacity. He said the industry must remove refining bottlenecks, improve efficiency and conservation, and provide better data on supply and demand, among other things, until the world no longer relies on hydrocarbons to meet its energy needs.

Spring’s start coming earlier, study blames global warming

Each spring, the robins are arriving in Wisconsin several days earlier than they did a decade ago. Endangered woodpeckers in North Carolina are laying their eggs about a week earlier than they did 20 years ago. And some of Washington, D.C.’s signature cherry trees bloom about a month earlier than they did a half-century ago. […]

China warns of danger of melting Everest glaciers

  Around 75 percent of the world’s fresh water is stored in glacial ice, much of it in mountain areas, allowing for heavy winter rain and snowfall to be released gradually into river networks throughout the summer or dry months. “The growing melting area means less fresh water reserves for the world in the future,” […]

Oil firms warned against using ‘under-recovery’ as reason for price hikes

The Department of Energy (DOE) on Wednesday cautioned the country’s oil companies to refrain from using “under-recovery” as reason for oil price increases. “It’s not right for [oil companies] to declare an under-recovery,” said DOE Undersecretary Peter Abaya.

Saudi Arabia seeks $623 billion in foreign investment

Saudi Arabia, by 2020, plans to invest $50 billion in natural gas production projects, $92 billion in petrochemical expansion projects, and $90.7 billion in electric power grids, said members of the Saudi Committee for the Development of International Trade during a trade mission to the US May 9-18.Oil & Gas Journal

India’s power crisis presses case for faster reform

Thousands of neon lights and bill boards in India’s gleaming metropolis of Bombay go off for four hours every night due to a crippling power shortage in the country’s most industrialized state. While turning off the lights is a token to alleviate a crisis for millions of Maharashtrians outside Bombay, it bodes ill for India’s […]

‘Double digit’ rise in gas prices (UK)

HOUSEHOLD gas customers face potential double-digit price rises this autumn, Ian Marchant chief executive of Scottish and Southern Energy (SSE) warned today. ‘Gas prices in the future market are already running well ahead of last year, and it is difficult to see how there won’t be price rises.

Even in Texas, gas prices cut SUV sales

Gas prices cause SUV sales to wane as hybrids gain in popularityDALLAS – Here in Texas, it’s all about being big. Therehttp://www.msnbc.msn.com/id/7888294/

Shares hit as oil firm runs dry

A dramatic fall in the share price of oil explorer Regal Petroleum – hit by poor drilling news – has had a ripple effect on related shares. (…) A statement from Regal cast doubt on whether any oil would ever be sold from what had been its most-valued asset, the Kallirachi prospect, and the company said it would not commit any further cash to drilling the well. Despite oil flowing to the surface at the well, it only gushed at a commercially-unviable 30 barrels a day, Regal said. Regal previously said the well could hold up to 227 million barrels of usable oil. BBC

Official Says Saudi Oil Output Has Not Peaked

Saudi Arabia pumps 9.5 million barrels of oil daily, with the capacity to produce 11 million barrels a day. By 2009, the country’s daily production capacity will be 12.5 million barrels, Naimi said, repeating an earlier pledge. “I can assure you that we haven’t peaked,” Naimi said in response to a question. He added that […]

High Oil Prices Require Global Action, Energy Secretary Says

Tight oil supplies and high oil prices constitute a global challenge that requires a global solution, U.S. Energy Secretary Samuel Bodman says. As demand for oil continues to grow, particularly in emerging Asian economies, developed and developing countries must take part in addressing this challenge, he said at a May 17 conference in Washington. Producing […]

How a Clever World Could Self-Destruct

It would be useful if, in two weeks, the Prime Minister attended a keynote address on May 29 at the Sydney Writers’ Festival. It will be delivered by the American geographer Professor Jared Diamond, a Pulitzer Prize-winning author whose new book, Collapse, charts the history of civilisation collapse caused by environmental failure. Diamond sees history […]

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