Crude Oil Rises on U.S. Inventory Decline as OPEC Boosts Quotas

“We are going to make new all-time highs,” said Phil Flynn, vice president of risk management with Alaron Trading Corp. in Chicago. “I think we will jump to the $62 area by July 4 and then pull back a bit.” …….. “The (OPEC) quotas have become meaningless,” said Julian Lee, an analyst at the Centre […]

Oil workers kidnapped in Nigeria

Six workers linked to the Anglo-Dutch oil company Shell have been kidnapped in Nigeria’s southern Niger Delta area. The workers, two Germans and four Nigerians, are employed by oil services firm Bilfinger-Berger, a local contractor for Shell. BBC

OPEC Increase Fails to Quell Price Surge

The fourth quarter looks set to test OPEC and refiners to the limit. OPEC supplies about 40 percent of world demand that is expected to hit 86.4 million bpd in the fourth quarter from a seasonal low of 82.5 million in the second quarter. “What’s scary is that we’re just moving out of the lowest […]

Debunking the Saudi claims is serious business…

So let me begin by explaining what the Saudi Minister is talking about, since it is not really evident from what he said. As Aramco first began developing the Saudi oilfields it found, back in around 1957, an oilfield at Manifa. In the map we posted on June 2nd it is the one marked in black. And the reason that it is marked in black is that, although the Oil Ministry list it as one of the sources of the oil that will allow them to reach 11 mbd (also in that entry), the very significant 1 mbd that could come from that field is not currently refinable.

Were the world to develop a place to refine this oil (which would take several years), the Saudi Arabian Oil Ministry could almost immediately start pumping it, since the field is developed. But there isn

Iran Analyst Says Oil Output Won’t Meet 4Q Demand -Report

Global oil producers will fail to meet rising oil demand in the fourth quarter, sparking oil price rises of up to around $60 a barrel, an Iranian oil analyst said Wednesday. Mohammad-Ali Khatibi, director of the Tehran-based International Center for Energy Studies’ OPEC research office, told the Pars news agency that OPEC and non-OPEC producers […]

Russia capable of building eastern pipeline by itself: FM

Russia is entirely capable of building Eastern pipeline by its own capital, and there is no need to take a loan from Japan, Russian Foreign Minister Sergei Lavrov stated at the St. Petersburg international economic forum on Tuesday. “We have the money. We have an enormous budget surplus” to build an oil pipeline network from […]

Oil deal may result in US curbs

With the US once again making its opposition to the Iran-Pakistan-India pipeline clear, India finds itself facing potential embarrassment, especially as petroleum minister Mani Shankar Aiyar is busy travelling between Iran and Pakistan trying to tie up the deal. The pact, if it goes through, may attract US sanctions for Indian companies engaged in the […]

China willing to cooperate with UAE in energy resources

Visiting Chinese vice premier Zeng Peiyan held talks with Sheikh Hamdan bin Zayed al-Nahyan, deputy prime minister of the United Arab Emirates (UAE) in Abu Dhabi on June 12, 2005. Zeng put forward a five-point proposal on Sino-UAE cooperation.

Let’s face the truth…

For this last article of the season, I will try to describe the global situation of oil and fossil energies, its implications and what can happen to us if we don’t change our ways.As a matter of fact, when we read articles about automobiles, we don’t have the impression that the situation is so serious. […]

Plains Drought Cycle Has Long History, Ominous Future

Cyclical droughts have ravaged the United States’ northern Great Plains for thousands of years, a new study says. Scientists expect the potentially devastating events to continue

China says desertification being controlled yet still grim

China claimed success Tuesday in stemming desertification that is costing the country billions of dollars, saying it has slowed for the first time in decades although the situation remains grave. “Notable progress has been made in combating desertification and sandification in China … but the situation is still severe,” Zhu Lieke, deputy director of the […]

Partisan divide greets energy bill

The Senate began debate on a sweeping energy bill Tuesday but quickly became embroiled in tussles over oil imports and renewable energy sources. Encouraged by a spirit of cooperation that characterized work on the bill at the committee level, senators remain optimistic they will pass a comprehensive energy package before the Fourth of July holiday.http://www.chron.com/cs/CDA/ssistory.mpl/business/energy/3226154

Opec agrees on two step plan to raise output

The Organisation of Petroleum Exporting Countries agreed on Wednesday to increase its official production ceiling by 500,000 barrels a day to 28m b/d from July 1, in line with current output, and to raise the quota by the same amount again as early as next month if prices remain stubbornly high. The two-step plan ratified […]

The Clusterfuck Nation Chronicle

I just paid $3.25 for a twelve-ounce diet coke in the Los Angeles airport, known by the affectionate name LAX by the locals (sounds so cutting age, like rap stars who give themselves technoid names such as G-Unit). The truth is, LAX is just the airport code on the baggage label that they slap on […]

US pressures G8 to support nuclear power

THE White House is pressing for next month’s G8 summit in Gleneagles to make a clear statement of support for nuclear power, opening up a new rift with the UK over climate change. The US pressure over nuclear power is revealed in a confidential paper prepared by UK government officials as part of the preparatory […]

Peaking’ out; If you think current oil prices are highjust wait

Geologists aren’t finding major new oil fields anywhere in the world and most do not expect to do so. Existing fields will reach their maximum output within a few dec-ades. Meanwhile, crude oil is being consumed at an ever-faster pace, not only in the United States and Europe but also in rapidly developing economies like […]

Where Oil is Mined, Not Pumped

High demand for petroleum makes a boomtown in northern AlbertaAlong Highway 63 here the rolling hills give way to massive open pits, huge waste ponds and tangles of pipes and refining equipment that spew smoke into the air.In the pits, shovel trucks load dirt into dump trucks that are so gigantic a driver has to […]

The coming trade war and global depression

Trade protectionism is re-emerging, but the irony is that it is being driven not by the poor economies that have been hurt the most by the globalized neo-liberal trade regime, but by the wealthy economies, especially the US.    

Rise of an energy colossus

About 40% of the world’s population now relies on traditional biomass, such as wood, agricultural residues and dung, to meet their energy needs. And about 1.6 million women and children in developing countries die annually as a result of poisoning by the noxious fumes generated by indoor biomass stoves. Fortunately, this will change in coming […]

BP pooh-poohs the doom-mongers

BP hit back yesterday at the doom-mongers predicting the end of the age of oil. It said that far from running out of black gold we are finding new supplies to replace all we use, despite soaring energy demands from around the world. ‘Proved reserves of oil, gas and coal remain more than adequate to […]

Analyst sees hot market offshore

For more than 30 years, jack-up oil rigs have been the workhorse for offshore oil exploration, and there is growing evidence that it’s time to bring in new blood. With worldwide demand for oil shooting up http://www.chron.com/cs/CDA/ssistory.mpl/business/3225979

‘The boat is sinking’

Shell on climate change, renewables and biofuels. Guardian

Global energy use has hit 20-year high, says BP

Global energy consumption has jumped to its highest level for 20 years on the back of raging demand from fast-growing economies like China and India, according to BP, the world’s second-biggest oil and gas company.Telegraph

Opec blames West for oil price

OPEC leaders yesterday admitted to being helpless in the face of a rampaging oil price as they rallied to support a token increase in crude oil supplies.The oil cartelLondonTimes

Car firms join ‘green’ fuel call

Car companies have joined environmental campaigners to urge the Government to back the use of “green” fuels in vehicles.The coalition, which also includes the Transport and General Workers’ Union, wants greater use of biofuels, in particular bioethanol which produces at least 50% fewer carbon emissions than petrol.The campaigners say that if bioethanol – made from […]

Casualties of the Oil Stampede

A huge new oil pipeline, opened a week ago but not fully operational till August, is set to become an environmental, political and economic timebomb. Over 1,000 miles long, it is a classic example of pretensions to corporate social responsibility claimed by the BP consortium being trampled all over by the stampede for oil. The […]

Ex-White House Environment Official Joins Exxon

A former official at the White House Council on Environmental Quality who resigned days after the New York Times reported he had changed some government reports on global warming is joining oil giant ExxonMobil. Philip Cooney, the former chief of staff of the council and a former energy industry lobbyist, will be working for Exxon […]

Demand for Natural Gas Brings Big Import Plans, and Objections

International energy companies, the Bush administration and governments in gas-rich countries are aggressively championing the creation of a global market for natural gas, with the United States at its center as the largest importer. They are promoting the fuel as more plentiful and less polluting than oil and needed to sustain economic growth. But in […]

Tsunami Warning in Effect for West Coast of U.S.

…A TSUNAMI WARNING IS IN EFFECT FOR THE COASTAL AREAS FROM THE
CALIFORNIA-MEXICO BORDER TO THE NORTH TIP OF VANCOUVER ISLAND
BRITISH COLUMBIA INCLUSIVE…

EDIS

UPDATE: TSUNAMI WARNING CANCELLED

The Next 50 Years: Four European Energy Futures

In 2004 the Dutch Ministry of Economic Affairs published a white paper on innovation in energy policy describing a new approach to persistent environmental problems: transition management. Transitions are defined as processes of socio-technical evolution in which economic, institutional and technological structures develop interactively and change drastically in the long run. Transition management prescribes the […]

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