EL Al Posts Loss On High Fuel Costs

El Al Israel Airlines posted a first quarter net loss on Thursday driven by soaring fuel costs. El Al reported a net loss of USD$18.5 million against a net profit of USD$4.5 million a year earlier. The firm said in a statement to the Tel Aviv Stock Exchange that jet fuel costs had risen by […]

US cries wolf over India, China

There are many advantages to being the most powerful nation in the world: You get to have the world’s reserve currency, and you can run big trade and budget deficits without worrying about how to pay for them. There’s one small disadvantage: You have to put up with a constant parade of futurologists explaining to […]

RUSSIA STRENGTHENS RELATIONS WITH CHINA – EX-PREMIER

Russia is seeking stronger ties with its Chinese neighbor, with an accent on the political means of ensuring China’s territorial integrity. The ratification by the State Duma (lower house) and the Federation Council (upper house) of the agreement on the Russian-Chinese border was therefore a significant event, former premier Yevgeny Primakov said. Primakov, an academic […]

Top Russian Oil Producer Lukoil Seeks $1Bln Venezuela Deal

Vagit Alekperov, CEO of Russia

Offshore/western fields seen producing half of China’s oil by 2010 – report

Output from offshore oil fields and from western regions will account for more than half of the country’s total output by 2010, Xinhuanet reported, citing an official from China National Petroleum Corp (CNPC). Offshore and western sources will replace the east as the country’s major source of oil, said Yan Xuchao, director in the development […]

Arid NW China seeks water from heaven

According to an ancient Chinese myth, once there were ten suns in the sky and the heat scorched the earth and dried up people’s blood. An hero named Houyi rose bravely and shot down nine of them with his magic arrows.     Today, in face of the severe droughts, people in northwest China once again raise […]

Solar Power Profitability: BP Solar

For many years the benefits of solar power have been offset by the reality that solar power companies find it difficult to be profitable. Many theories have been put forth to explain this, ranging from blaming oil companies for self-perpetuation by shutting solar out of the market, the renewable nature of solar power, and bad […]

The Drought of 2005

Despite careful management of water supplies by government officials and utilities, Washington is still facing a shortage in this drought year, though the effects are not immediately apparent. “Droughts unfold slowly, affecting different things at different times

Arctic Leaders Appeal Over Global Warming

 Indigenous leaders from Arctic regions around the world called on the European Union on Tuesday to do more to fight global warming and to consider giving aid to their peoples. In their first visit to EU headquarters, three leaders representing the eight-nation Arctic Council met with officials at the European Commission and several EU lawmakers […]

Exxon Mobil likes staid and steady

On a day when oil prices jumped because of falling U.S. inventories, Exxon Mobil Chief Executive Lee Raymond said the oil giant would continue to plan for the long haul rather that reacting to such short-term price shifts The company’s $25 billion profit in 2004 supports the steady, albeit staid, approach, Raymond told investors at […]

What will we eat as the oil runs out?

Feasta is holding a major international conference on June 23rd, 24th & 25th, 2005, at the Faculty of Agri-Food and the Environment, University College Dublin, Ireland.FEASTA

New cartel seeks natural gas advantage

If you think we are dependent on foreign energy today, just wait. A new natural gas cartel is on the rise that could make our current energy prices appear downright reasonable and OPEC’s 1970s oil embargo seem like the good old days. The U.S. House of Representatives recently voted to approve a national energy plan […]

Oil peak predicted

Could the petroleum joy ride — cheap, abundant oil that has sent the global economy whizzing along with the pedal to the metal and the AC blasting for decades — be coming to an end? Some observers of the oil industry think so. They predict that this year, maybe next — almost certainly by the […]

Remaking Central Asia

The recent developments in Uzbekistan have all the hallmarks of the Hizbut-Tehrir being stirred to unleash the dogs of war in Central Asia, with the objective of weakening China and Russia

Fuel price hike. (Bangladesh)

The latest hike in oil price is a bombshell whose splinters will fly far and wide and strike the most sensitive and vulnerable areas of the economy. The hike comes at a bad time for the economy and too close on the heels of the previous hike of just six months ago.

The Mad Genius from the Bottom of the Sea

Halfway through an important lunch meeting in Kona, Hawaii, with the lieutenant governor of the Northern Mariana Islands, John PiWired Magazine

High oil prices trim Japan’s trade surplus 10.4%

Japan’s customs-cleared trade surplus shrank 10.4 percent in April from a year earlier to 962.8 billion yen as high oil prices inflated the value of imports, the Finance Ministry said Wednesday.Despite the surplus fall after a 0.1 percent rise in March, exports marked the second-highest level on record, growing 7.8 percent to 5.507 trillion yen […]

Oil holds over $51 after U.S. crude draw

Oil prices held firm above $51 a barrel on Thursday after surging on news of a drop in U.S. crude stocks and on expectations of strong gasoline demand as the U.S. summer driving season gets under way.U.S. light sweet crude for July delivery was up 20 cents at $51.18 a barrel after a jump of […]

World

Russia will build the world

James Howard Kunstler on The Long Emergency

Articles about the end of oil are now trickling into the mainstream, but Kunstler, more than anyone, considers the geopolitical ripples that an oil shortage would create. What happens if the last oil is owned by the brutal dictatorships of the Middle East? How will China, with 20 percent of the worldPulse of the Twin […]

Producing As Much Home Energy As They Use

Todd and Michelle Cory have long been interested in how energy impacts the planet. With their efforts reaching near net-zero electrical use, the couple’s Mount Shasta home was recently featured on the cover of the June/July issue of Home Power magazine. The Corys use a combination of energy waste reduction, solar panels, solar hot water […]

Analyst Sees Surge in Offshore Wind Projects

More than 2,300 wind turbines are expected to be installed offshore, primarily off the UK, over the next 5 years at a cost of $13 billion, said John Westwood of Douglas-Westwood Ltd. High prices for oil and natural gas have greatly improved the comparative economics of offshore renewable energy, a technology that has been attracting […]

Green Party Unveils Energy Policy

The Green Party of NZ released their energy policy yesterday ahead of this year’s general election. Read More

Town Hall Conference a Success

Over two hundred people attended Nevada County’s first annual Town Hall Conference on the subject of Peak Oil and Nevada County’s preparation for the coming changes it will bring. The strong showing during the all-day event last Saturday, May 21st at the Grass Valley Veteran’s Building on South Auburn St occurred despite summer-like weather after […]

Long Day’s Journey Into Night

The author of the new book The Long Emergency: Surviving the Converging Catastrophes of the 21st Century, recently excerpted in Rolling Stone, Kunstler is an emphatic petro-pessimist who argues that civilization is about to enter a sustained period of economic, social, and environmental decrepitude triggered by the end of the cheap-oil era. He summarily rejects […]

Senate Bill Would Double Ethanol Use in Gasoline

Over the strong objections of oil companies, a Senate committee on Wednesday approved a requirement that refiners must use more corn-based ethanol and other renewable fuels in gasoline. The legislation would mandate that refiners use at least 8 billion gallons of renewable components – almost all of it ethanol made from corn – in gasoline […]

Where’s All That Oil Money Going?

NEW YORK (CNN/Money) – With American motorists shelling out over $2 a gallon for gas, oil companies have managed to pile cash; The question is, what are they going to do with it? Give it back to shareholders? Buy each other out? How about more oil production? More likely it will be a combination. As […]

Oil leaps 2.5 pct as U.S. stockpiles fall

Oil prices surged 2.6 percent on Wednesday after a report from the U.S. government showed an unexpected fall in crude inventories in the world’s largest energy consumer, pulling supplies down from 6-year peaks. U.S. light sweet crude ended up $1.31 to $50.98 a barrel, breaking the $50 mark for the first time since May 12. […]

BP Reportedly Demands Advance Notice of Press Mentions

Global energy giant BP PLC (BP) reportedly is now demanding that media running its ads notify the company in advance when news stories are slated to mention BP or its industry. Citing a memo obtained from BP’s ad-buying agency, WPP Group PLC’s (WPPGY) MindShare, trade magazine Advertising Age reported Tuesday that BP has “adopted a […]

Putin Slams Power Monopoly After Big Moscow Outage

Moscow was plunged into chaos on Wednesday after a big power outage that President Vladimir Putin blamed on the state-owned electricity monopoly headed by a liberal politician viewed with suspicion by the Kremlin. The outage, caused by a fire in a substation, shut the stock exchange, crippled transport and threatened mobile phone links in the […]

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