Space Ring Could Shade Earth and Stop Global Warming

A wild idea to combat global warming suggests creating an artificial ring of small particles or spacecrafts around Earth to shade the tropics and moderate climate extremes. There would be side effects, proponents admit. An effective sunlight-scattering particle ring would illuminate our night sky as much as the full Moon, for example. And the price […]

Putin Says Russia Will Continue to Lift Oil, Gas Exports

Russian President Vladimir Putin promised Saturday that his country would continue to increase its oil and gas exports to world markets, and to make itself more welcoming to foreign investment in general. His comments come at the end of a week in which global oil prices have hit yet another record high and at a […]

$60 Crude Means Unfiltered Barrel of Nonsense

Now that crude oil prices have averaged almost $50 — $48.46 to be exact — for the past year, $60 has become the new tipping point. New highs in oil prices ushered in the same old nonsense. Analysts will tell you that oil consumption remains strong at $60 a barrel. They claim that prices can […]

Ethanol Uses More Energy Than it Makes

UC scientist says ethanol uses more energy than it makes. A lot of fossil fuels go into producing the gas substitute. SFGate.com

The Incremental Realities That Will Take Us to $80 oil…

Heading Out writes from his Alaskan vacation: “It is also almost certain that production in the Gulf will be constrained at some stages during the current hurricane season, and that damage to platforms, and hence production, will occur. Not, probably, in a single massive blow, but rather with a loss here, and a delay in repair there, we can very likely lose about half-a-million barrels a day for a significant spell through the fall, right at the time of peak demand.

These are the incremental realities that are going to get us up towards $80 oil, but without developing a new enemy that can be immediately pointed to and used as a whipping boy to shift attention from the failures, or to prepare us for this approaching cold shower.”

More after the jump at The Oil Drum.

The Clusterfuck Nation Chronicle

The east coast is a steambath, the Dow Jones is tanking, oil has crossed the $60 barrier, and Don Rumsfeld says the Iraq insurgency could run for twelve years.     Taking these things in reverse order — why twelve years? Why not forever? Actually, twelve years might as well be forever. What Rummy seems to be saying […]

China raises fears of major trade war

A MAJOR trade war between China and the West appeared to be looming last night after the Chinese premier insisted he will not be rushed into revaluing his currency. The news escalated tension with the US, which was last week shaken by a

Oil prices worrying, no need for panic: Aiyar (India)

Union Oil Minister Mani Shankar Aiyar said on Monday a surge in global crude oil prices was a cause for concern but added India had enough foreign currency reserves to buy oil at high prices. “There is no cause for panic. We have enough foreign exchange reserves but nevertheless, at $60, the implications for consumers […]

Venezuela Ratifies as World Hydrocarbon Reserve Leader

Venezuela will carry out research to quantify and certify reserves at the Orinoco oil belt to confirm its place as the largest hydrocarbon reserve of the world, local authorities informed Sunday. State-run Petroleos de Venezuela (PDVSA) indicated the zone is thought to keep 78 billion barrels in light crude reserves and 253 billion barrels of […]

Demand Destruction

Presumably pro sports teams and tourists will continue to jet around America. Salads will still travel thousands of miles to your plate. Speculators will continue to build 5000 sq ft homes in the Burbs. And not one business will be threatened with bankruptcy so long as nobody panics, so long as no bubbles burst, so […]

Florida’s coasts face clear and present danger

Florida U.S. Sen. Bill Nelson said it best: “It’s going to be a knife fight in the streets.” Nelson was talking about the fight to prevent oil drilling off the Florida coast in the Gulf of Mexico – the battle to save the beaches. It’s as if red tide isn’t enough. Now we’ve got to […]

Climate change blow to human cradle

Climate change in Africa gave rise to modern humans. Now experts fear that global warming linked to carbon emissions will have its worst impact on humanity

Wilted Europe eyes global warming (and air conditioners

“I’m sorry, sir, but we can’t take credit cards today. It’s the heat, you know.” The smiling waitress at a sidewalk cafe in this European capital more accustomed to freezing winters than wilting summers was dead serious. Apparently because of what French speakers call la canicule – the heat wave – the credit card I’d […]

Britons Prefer Wind Energy to Nuclear Power

Many adults in Britain have no problems with the installation of wind turbines close to their own homes, according to a poll by ICM research published in The Guardian. 69 per cent of respondents support the building of a wind power station within 20 miles of their residence.

Uranium revival excites industry veterans

 It is a radioactive metal with a funny name that is fetching 20-year-high prices, reopening mines across the West and catching the attention of everyone from Wyoming mining veterans to Wall Street stockbrokers.It was back in the 1970s when uranium last garnered this much interest, back before the Three Mile Island accident, and back when […]

Energy crisis fear over oil

WORLD stock markets fell as oil prices ended another record-breaking week on Friday, prompting fears of a global energy crisis.Oil touched $US60 a barrel in New York, with some analysts predicting it will soon test $US70

U.S. Economy: Home Sales Rise, Durable Orders Slow

U.S. sales of new homes rose to the second-highest level on record in May at the same time corporate purchases of durable goods unexpectedly stagnated, evidence economic growth has become more dependent on the housing boom. Home sales rose 2.1 percent to a 1.298 million annual rate, second only to the 1.306 million pace in […]

Russia and Turkey in South Caucasus: A Geostrategic Armistice

Two meetings of the Russian president V. Putin and Turkish Prime Minister R.T. Erdogan, held in the end of the last year and in the beginning of this year, as well as the wide spectrum of problems discussed and contents of the signed documents, marked the start of the a new phase in the Russian-Turkish […]

The ayatollah’s new reign

The real winner in Iran is spiritual leader Ayatollah Ali Khamenei, who will now be able to navigate the ship of state without the impediment of a reform-minded president, especially in foreign relations. Neo-cons in the United States couldn’t have wished for better.

OPEC

OPEC

Oil Reaches Record for 3rd Day on Concern About Iranian Output

Crude oil reached a record in New York for a third straight day, approaching $61 a barrel, as the election of a nationalistic government in Iran raised concern foreign investment may suffer in OPEC’s second-largest producer. Mahmoud Ahmadinejad, who won the runoff for the Iranian presidency, said yesterday he would favor domestic companies to develop […]

Greedy cultureless zombies need their daily fix of blood and viscera

There is no equivalent term for the dumbing down of individual and collective memory, transforming and making it Tunnel Memory, but that is certainly what we have today in the disaggregating and anomic ‘late consumer societies.’ (…) The consumer faithful of course know this is to ensure oil supplies for their cars, plastic toys, air conditioners, deodorants and ‘miracle’ drugs, and make little or no protest — after all there will be a football match or Elton John concert immediately following the great news they have consumed. Andrew Mckillop/ Vheadline

Senate Gives Feds Power to Approve LNG Terminal Sites despite State Objection

WASHINGTON — The Senate voted on Wednesday to give federal regulators authority over the location of liquefied natural gas terminals, despite objections from governors that states should be have an equal say in deciding where such projects are built. Republican and Democratic officials from city halls to Capitol Hill have expressed concern that the terminals […]

The Black Stuff Has World Order Over a Barrel

The real problem, however, concerns the longer term. There is a strong possibility that what we are facing now is not simply a temporary mismatch between demand and supply that can be sorted out by Opec pumping more oil or by exploiting marginal fields in the world’s most inhospitable places. Rather, it is that we […]

U.S. Plans Radioactive Project

The Bush administration is planning the government’s first production of plutonium 238 – a highly radioactive substance valued as a power source – since the Cold War, stirring debate over the risks and benefits of the deadly material. It is hot enough to melt plastic and so dangerous that a speck can cause cancer. Federal […]

Oil Hits Fresh High in Asian Trade

U.S. crude oil futures leapt to a record high above $60 a barrel at the start of trade on Monday, extending a string of peaks fuelled by relentless demand growth in the United States. Frontmonth August crude traded as high as $60.45 a barrel, up 61 cents, in the first minutes of electronic dealing, extending […]

Unrest ‘Could Double’ Oil Price

A warning of a possible near doubling in the cost of oil was issued yesterday as UK prices rose to more than Telegraph

Pump Prices Rise Nearly 8 Cents a Gallon

The average retail price of a gallon of gasoline in the United States rose nearly 8 cents in the last two weeks amid surging demand, and the record price for the most popular grade of gas may soon be surpassed, a leading oil industry analyst said on Sunday.MSNBC

Michael Klare on a Saudi Bombshell

And if you don’t quite recognize the new look of this fast-shifting energy landscape, then how are you going to feel if the Age of Petroleum turns out to be drawing — more rapidly than most people imagine — to a close? Well, hold your hats, folks. Below Michael Klare, an expert on “resource wars” […]

How to brighten solar power’s future

Consumers are going to want to do the math: Does the $15,000 investment of a solar panel generate a sufficient return in lower utility bills?

Today, for most homeowners, the answer is no — though state rebates and tax credits help narrow the gap.

The Campbell-Murray bill would extend state solar rebates for homes and businesses — now set to expire in December 2007 — through 2016. The cost of those subsidies would be covered by a fee on utility bills to be determined by the California Public Utilities Commission.

SF Gate

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