Blair Admits G8 Climate Deal ”Very Difficult”

Britain’s Tony Blair vowed on Monday to press for agreement among world powers to tackle the causes of climate change but admitted he was a long way from achieving it. The prime minister will host a summit of leaders from the Group of Eight nations in Gleneagles, Scotland, next week. African poverty and global warming […]

Climate change in Egypt ‘to force millions to migrate’

Millions of Egyptians could be forced to migrate as climate change makes their livelihoods untenable, warns a report published last month by Egypt’s environment ministry. The report, compiled in collaboration with Egyptian research institutions, recommends the government acts both to prepare for climate change and to reduce emissions of the ‘greenhouse gases’ that cause it.

Natural gas–the next fossil fuel shortage?

Oil fueled the 20th century. Coal energized the 19th century. Since oil seems to be peaking, what will be the primary energy source for the 21st century? Natural gas, nuclear energy, and hydrogen are the main contenders. Each has certain advantages and significant problems.

Ethanol Industry Sets Record Production For April

The Renewable Fuels Association (RFA) announced that the U.S. ethanol industry set a monthly production record for April of 238,000 barrels per day (b/d), according to data released by the U.S. Energy Information Administration (EIA). Production was up over 9 percent compared to the prior April record of 218,000 b/d in 2004

Could the U.S. Energy Bill Bring a Nuclear Boom?

Ever since the disasters at Three Mile Island and Cherynobl in the 1970s and 80s, the topic of nuclear energy has been all but taboo in mainstream American political and media circles. But thanks to soaring oil prices pressing the need for new energy sources, the American nuclear power industry is in the midst of […]

6 new Matthew Simmons presentations:

http://www.simmonsco-intl.com/research.aspx?Type=msspeeches

PetroChina Overtakes Toyota as Asia’s Biggest Company

PetroChina Co. became Asia’s largest company by market value, overtaking Toyota Motor Corp., as shares in China’s No. 1 petroleum producer rose to a record on higher oil prices. The stock rose 3.5 percent to HK$5.85 today. It has gained 25 percent since the beginning of May, taking the Beijing-based company’s market value to HK$1.03 […]

Countdown to Iran … and Unprecedented Spikes in Oil and Gold Prices

What follows is a chronology of signs and events over the past few months pointing to an imminent conflict with Iran and, as a result, the potential interruption of oil flowing from the Gulf region.

DON’T SLIP ON THE OIL, PART 3

In last week

Revisiting the Iranian revolution

Mahmud Ahmadinejad’s victory marks a revival of the spirit of the Iranian revolution. Thus, it is bound to jog American memories of the hostage crisis that sank Jimmy Carter’s presidency. President George W Bush, given his policy on Iran, risks the same fate.

Hobbesian hell in the making

For the world as a whole it is a reversion to the law of the jungle and the merciless and amoral battle for survival, which evolution has waged over eons for individuals and species, bringing all humanity to the Hobbesian hell, where life is nasty, brutish and short. The tragedy is that the brief history […]

France gets nuclear fusion plant

France will get to host the project to build a 10bn-euro (

State’s infrastructure marked poorly (Australia)

AN independent report has revealed much of Victoria’s road and rail network along with its electricity, gas and water supply is barely able to cope with present needs.The report has also found that the state requires the investment of billions of dollars to serve future generations

Power crunch forces blackouts (Canada)

More than 7,300 homes in Ottawa lost their power last night as demand for electricity hit a record high in Ontario, overloading the embattled power grid and prompting rolling blackouts. At 6 p.m., just hours after Ontario Premier Dalton McGuinty warned striking Hydro One workers that he will take “whatever steps are necessary” to protect […]

Europe may force airlines to pay for CO2 emissions

AIRLINES will be forced to buy permits to cover all their carbon dioxide emissions under European proposals to address the growing contribution that flights make to global warming.Ticket prices for return trips within the European Union will increase by between approximately LondonTimes

Drivers in appeal over diesel tax (UK)

A FREIGHT transport lobby group has urged Gordon Brown to waive his right to TimesofLondon

Climate change ‘to drown Britain’

Sea-level rise caused by climate change could turn Britain into a string of islands, a study published today suggests.Rises could drown the centre of London and leave many low-lying cities and coastal towns waterlogged, including Edinburgh, Newcastle upon Tyne, Scunthorpe, Bristol, Plymouth, Norwich, Peterborough and Bournemouth, according to the Benfield Hazard Research Centre at University […]

Army Whistle-Blower Blasts Halliburton Deals

A top U.S. Army procurement official said on Monday Halliburton’s deals in Iraq were the worst example of contract abuse she had seen as Pentagon auditors questioned more than $1 billion of potential overcharges by the Texas-based firm. Bunny Greenhouse, the Army Corps of Engineers’ top contracting official-turned whistle-blower, said in testimony at a hearing […]

World’s Refineries May Not Meet U.S.’ Growing Gasoline Appetite

To meet growing demand, the U.S. imports about 11% of its gasoline. Those non-U.S. refineries will see the strongest growth over the next two decades. Will those refiners relieve future U.S. supply constraints? Some, but not a lot. Though U.S. refinery growth will lag gasoline demand growth, overseas refiners will find more than enough demand […]

US Fears Mount Over Chinese Move on Unocal

More than 40 US Congressmen are demanding an investigation of the Chinese bid for the American oil company Unocal – a move which has crystallised every fear that China has become a major threat to the geostrategic dominance of the US. In a letter to John Snow, the Treasury Secretary, the Congressmen – both Democrats […]

The Politics of Survival

What we are witnessing is the collapse of the politics of left and right and the replacement of those politics with what I call the politics of survival. Those who come to understand the gravity of our energy situation quickly abandon their previous political views and instead focus pragmatically on how we can make a […]

BIS Sounds Alarm as Oil Price Sets Another Record

THE ECONOMIC fallout from soaring oil prices may be more severe than many expect, the Bank for International Settlements said yesterday as the cost of crude leapt to record levels above $60 a barrel. As financial markets worldwide were jolted by the further jump in oil prices, the BIS, known as the central bankersTimes Online

Oil Prices Undermine the Dollar and the Yen

The dollar fell Monday amid concerns that oil prices could threaten economic growth, while the euro gained comfort from an improvement in German business confidence. “The market is of the view that the rise in oil prices is going to be around for a while, and that generally is negative for the dollar and the […]

OPEC May Reach Decision on Output Hike This Week

The Organization of Petroleum Exporting Countries may decide by the end of this week to increase output by 500,000 barrels a day if ministers agree that demand isn’t being met, OPEC’s president said Monday. OPEC oil ministers are reviewing the global oil market, and in particular demand/supply figures from May, to assess the supply situation, […]

South Korea Plans to Boost Oil Resources, Estimates Needs $10B

The South Korean government plans to establish a company and a fund to boost its overseas oil resources, following a study that estimates the country will need about $10 billion to ease its exposure to volatile global oil prices, the Ministry of Commerce, Industry and Energy said Monday. The ministry said in a statement that […]

Texas Oil, Natural Gas Production Drops

Oil and natural-gas production in Texas during the first four months of 2005 was off from a year earlier, according to Texas Railroad Commission figures. Oil production dropped from 117.5 million barrels in the first four months of 2004 to 112.5 million barrels this year. Natural-gas production in Texas also declined in that period, from […]

Venezuela Seeks To Prove It Has World’s Largest Oil Reserves

Venezuela has the largest proven oil deposits outside the Middle East, but President Hugo Chavez believes his country has the largest reserves in the world and he plans to prove it. In recent months, Chavez has repeatedly boasted that Venezuela’s estimated 78 billion barrels in conventional reserves, coupled with an estimated 238 billion barrels of […]

Oil Inflated Price Creating Bubble Fears

At the moment, the market is worried about peak oil, Iran and refining capacity, but with little evidence that the U.S. is running out of oil, Evans said. But, at the same time, “production is continuing to rise, demand will grow less this year than last year, and risk of oil-induced recession is rising,” he […]

Fusion centre decision ‘imminent’

A long wrangle over the location of a 10bn-euro nuclear fusion reactor could be resolved on Tuesday, with the EU expected to get the nod over Japan. The Iter project has been held up for over 18 months as parties have tried to broker a deal between the two rivals. BBC

Oilman, Investor T. Boone Pickens Sees $3 Gas, Oil Shortage

Gasoline prices, reversing a two-month slide, are again approaching records and at least one expert thinks they could hit $3 a gallon soon in the United States. “We’ll see it within a year,” T. Boone Pickens, head of the billion-dollar hedge fund BP Capital Management, said on CNN’s “In The Money” over the weekend. Pickens […]

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