High oil prices here to stay: analysts

Oil prices look set to remain high for years to come, analysts warned at the weekend, ahead of an OPEC meeting where the cartel will decide whether to increase its output. “Prices will stay high in the long term, exceeding the levels that we saw in 2000 and 2003, the benchmark years for the industry,” […]

Beckett exposes G8 rift on global warming

The British Government is deeply disappointed that President George Bush has not made a greater commitment to tackling climate change before the G8 summit, the Environment Secretary has disclosed. In a rare, outspoken critique of the US position on global warming, Margaret Beckett told The Independent of the Government’s frustration at the lack of “common […]

Electrifying Natural Gas Rise

For five years, there has been a giant sucking sound in the natural gas industry in the United States. Prices for the fuel were low until 1999, averaging $2 to $3 for a million BTUs. Since then, the price has climbed to $7. After the increase, many Toledoans’ heating bills soared, often to several hundred […]

Shell CEO Predicts Further Volatility, Higher Prices for Oil

Royal Dutch/Shell Chief Executive Jeroen van der Veer said further volatility in oil prices is expected in the year ahead, warning that the energy sector is not “shock proof” from world events. Van der Veer told the Asia Oil and Gas Conference here that the world’s existing oil reserves had “hardly any capacity” and called […]

Iran Hit by Wave of Bombings, Blames US

“The terrorists of Ahvaz infiltrated Iran from the region of Basra” in southern Iraq, top national security official Ali Agha Mohammadi told AFP. “These terrorists have been trained under the umbrella of the Americans in Iraq,” he charged, adding that Iran suspected British troops across the border might also have links to the ethnic Arab […]

The Debate’s Over: Globe Is Warming

Don’t look now, but the ground has shifted on global warming. After decades of debate over whether the planet is heating and, if so, whose fault it is, divergent groups are joining hands with little fanfare to deal with a problem they say people can no longer avoid. General Electric is the latest big corporate […]

Oil Likely to Cross $60, Says Barclays

Crude oil may exceed $60 a barrel this year as demand rises in China and the US and hurricanes threaten to reduce Gulf of Mexico production, according to Barclays Capital. Also, slowing growth in Russian oil output this year will lead to an outright decline in 2006 from the country, further increasing concern about supply, […]

Baghdad Plans Cut in Crude Exports

Iraq plans to cut its oil exports by 15 percent in the second half as terrorism and lack of investment take their toll on infrastructure. The new export figures imply an export volume of 1.45m barrels a day or 250,000 bpd below the contracts offered in the first half. However, the forecast remains above the […]

OPEC Slashes Discount for Crude

The Organisation of the Petroleum Exporting Countries, the oil cartel, has raised the price of its own oil to the highest level in a year, while publicly promising to tackle the high cost of oil at this week’s meeting in Vienna. Emboldened by strong demand and a high oil price that has yet to have […]

IEA: OPEC May Output Slips 55,000 B/D to 29.3 Mln B/D

OPEC production fell slightly in May as output slipped in Venezuela and the UAE, the International Energy Agency said in its latest oil market report published Friday. The energy security watchdog for Organization of Economic Cooperation and Development members estimates production by the Organization of Petroleum Exporting Countries fell 55,000 barrels a day on the […]

Poor nations to get oil-price cushion

A FUND to help to cushion poor countries against the impact of soaring prices for oil and other commodities is to be set up under an agreement by finance ministers from the Group of Seven leading economies and Russia, the G8, after weekend talks in London.

The Times

A Crude Awakening

It’s the stuff of American romance: summer, a big car, a tankful of gas and the endless highway.
But that fabled love is now a troubled relationship. We can still drive where we want, if the traffic isn’t too bad. And we can still drive something nice, if our credit holds out. But Americans can no longer control the cost of the gasoline that enlivened the romance.

PJ Star

US Farm, Oil Groups Spar Over Ethanol in Bill

Farm and oil industry lobbyists are waging a pitched battle of dueling facts and figures on the costs of corn-blended ethanol as the U.S. Senate prepares to debate an energy bill that would double its use. The National Corn Growers Association and other backers of a plan to require U.S. refiners to blend 8 billion […]

Alaskan oil field fading

Oil keeps flowing through a maze of aging wells, pumps and pipelines that poke through the snow on this desolate North Slope tundra.
But this vast field is ailing: Output has fallen by nearly 75 percent from its peak in 1987 and is expected to continue dropping.

askansas online

Start now to avoid another energy crisis

If the Earth were a car, its gas gauge would be approaching E. Some argue that we have miles to go before we hit the empty mark. Others say we’re running on fumes. But nobody disputes that the world’s oil supply is finite and that some day the wells will run dry. What we do […]

Saudi Aramco Finds New Oil Field

The Saudi Minister of Petroleum and Mineral Resources, Ali Al-Naimi, declared Monday that Saudi Aramco had discovered a new field of Arab-light Oil in the Eastern Region.

According to SPA, he said the well of “Hulfa-1″, situated 320 km south of Dhahran and 280 km south-east of Riyadh, was tested on Wednesday, April 20, 2005, leading to the flow of an average of 6000 barrels of extremely Arab-light oil per day with a density of 36 degrees at the scale of The American Petroleum Institute. In addition, the gas also flown out of the new well at an average of 4.2 million cubic feet per day.

“The well is expected to reach much more production averages under the normal circumstances, ” said Al-Naimi.

Mena Report

Rare Bomb Explosions Kill Eight in Iran

Four bombs exploded in the capital of an oil-rich province on the Iranian border with Iraq on Sunday, killing at least eight people and wounding at least 36, state-run television reported. The bombings came days before the presidential vote and were the deadliest in Iran in more than a decade. At least four women were […]

Bury CO2 at sea, says DTI

The government will this week unveil a radical new plan which it believes could solve the problem of greenhouse gas emissions for the next 60 years. Energy minister Malcolm Wicks will on Tuesday announce a strategy for ‘carbon abatement technology’: effectively stripping out harmful carbon dioxide from power station emissions and pumping under pressure into […]

Climate change is costing us

The chief executive of BT has become the first boss of a British company to admit that climate change is already affecting his company, and that environmental damage could threaten the stability of the world’s financial system. Talking exclusively to The Observer, BT boss Ben Verwaayen reveals that extreme weather in the form of flooding […]

Climate row US official resigns

A senior White House official has resigned days after he was criticised for allegedly playing down global warming in US government documents. The White House said Philip Cooney’s sudden departure was totally unrelated to the allegations. He was chief of staff at the White House Council on Environmental Quality. Critics say his alterations cast doubt […]

Sweeter by the Gallon

However, the great bulk of bioethanol will come from countries with hot climates. Per Carstedt, chairman of the BioAlcohol Fuel Foundation and driving force behind the Swedish industry, sees a golden opportunity for Tony Blair to combine his two G8 priorities – global warming and Africa. Carstedt believes that, by 2020, at least 100 million […]

When It Comes To Africa, Bush Has More On His Mind Than Aid

As the world passes peak oil production, and some analysts believe the top of the graph is already disappearing in our rear-view mirror, the race for oil will become paramount. Rapidly industrialising China, the USSunday Herald

S Calif Edison Sues to Keep Power Forecasts Under Wraps

Southern California Edison is suing state regulators to keep its forecasts for electricity demand from being made public. Edison filed suit Friday in Superior Court against the California Energy Commission. Southern California Edison is a unit of Edison International (EIX). The utility contends that disclosing the projections of peak usage during the summers from 2006 […]

Shell Chief Defiantly Upbeat About Future of the Oil Sector

Jeroen van der Veer, the chief executive of Royal Dutch/Shell, the oil giant, will launch a robust defence of the future prospects of the industry tomorrow, arguing that ‘this is most definitely not a sunset industry’. In a speech to be delivered in Asia, van der Veer will argue that the business prospects for the […]

Energy Minister to Tell North Sea Oil Firms to Drill or be Damned

ENERGY minister Malcolm Wicks will take a hardline stance on mature North Sea oil fields this week, pledging to revoke exploration licences if companies fail to develop their assets quickly enough. In a report to be published this week by the government’s North Sea task force PILOT, Wicks will reveal details of a new scheme […]

Are We As Green As We Think?

This excellent article from the San Francisco Bicycle Coalition’s Tube Times explains why bicycle-friendly legislation, simple, cheap, and obvious, is a key to ending car dominance and a sustainble future.

China to Have Strategic Oil Reserve Soon

China is on track to complete building its first strategic oil reserve storage tanks by August, but Beijing has not indicated when it may start filling them in the face of high oil prices, an industry official said on Friday. The world’s second-largest oil consumer after the United States will finish the crude oil tank […]

Oil Futures and the Future of Oil

One possibility that has run through many of our minds is whether the oil price run-up over the last two years might be the first signs of an inevitable eventual decline in annual global petroleum production resulting from exhaustion of the world’s oil fields. Energy Outlook, Daily Kos, Angry Economist , and WhirledView, to pick […]

Kunstler Radio Interview

Thanks to Past Peak for linking to this Kunstler radio interview. He basically summarizes The Long Emergency for us, but it’s still kind of interesting to hear it in his voice. Sometimes he gets pretty snarky in his books, so I was kind of surprised to hear how calm and reasonable he sounds. Here’s a […]

Cyclists Bare All in Oil Protest

More than 100 cyclists have been riding around London naked, in a mass protest against dependency on the oil industry. Protesters on The World Naked Bike Ride cycled past Piccadilly Circus, Big Ben, Covent Garden, Oxford Street and the US Embassy on the 10km route. Riders in 54 cities were protesting at the “destructive effects […]

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