Anti-Wind Measure Voted Down by U.S. Senate

Senate lawmakers voted 63-32 against the innocuously-named “Environmentally Responsible Wind Power Act of 2005″ trumpeted by U.S. Senator Lamar Alexander (R-TN) and Sen. John Warner (R-Va.) The item could have been rolled into the broad energy bill currently under consideration in Congress and it would have had immediate and devastating effects on the U.S. wind power industry, according to industry sources.

renewableenergyacces

Chavez warns petrochemical companies over contracts

Venezuela’s President Hugo Chavez has warned private companies working with a state-run petrochemical company that he will end their contracts unless they give priority to domestic demand before exports.

Reuters

Cenbankers See High Oil Staying High

Crude oil is expected to remain near record highs of $60 a barrel for several years, eroding some strength from a world economy already vulnerable to upsets, the world’s most powerful central bankers said on Sunday. Global growth is softening somewhat because of crude oil prices, which have shot up 60 percent this year, although […]

Industry Squeezed by Soaring Energy Prices

Energy prices appear to have reached a tipping point for many industrial users, as inflation outstrips companies’ capacity to absorb higher costs by increasing the prices they charge consumers. European, US and Asian stock markets all fell last week as oil reached $60 per barrel and corporate leaders around the world issued a series of […]

Fossil Fuels’ Demise Oversold

PEAK oil. As the U.S. Senate debates the national energy policy, many are aware of the hype surrounding this academic construct. A Web search of “peak oil” turns up an array of experts who believe that a pending peak in world oil production will soon lead to global economic collapse. In their rosier scenarios, experts […]

Operation Northwoods, Downing Street and Peak Oil

Back in 1963, as a well-scoured six-year-old preacher’s kid, I spent much time playing in the dirt at the ramshackle home of my friend, Gary Lloyd. There I was introduced not only to the fine art of cussing, but also to Gary’s sisters who somehow managed to freely frolic outside sans clothing. All of this […]

EU Growth Outlook Clouded by Oil, Policy Makers Say

European policy makers meeting for talks in China said record oil prices are dimming the outlook for growth in their region’s beleaguered economy, adding to pressure on the European Central Bank to cut interest rates. The European Commission may lower its 2005 growth forecast for the third time in eight months if the cost of […]

Iran Will Pursue Nuclear Program, New President Says

Iran will pursue a nuclear energy program that the U.S. opposes because it needs to generate electricity, said Mahmoud Ahmadinejad, speaking a day after he was announced winner of the country’s presidential election. “We need this technology to produce energy,” Ahmadinejad, 48, said at his first press conference since winning 62 percent of the vote […]

Iran President-Elect Noncommittal On Replacing Oil Min

Iran President-elect Mahmoud Ahmadinejad was noncommittal when asked Sunday whether he would keep or replace incumbent Oil Minister Bijan Namdar Zangeneh. Although he didn’t give a definite answer, he said during a press conference: “Those enjoying the desired qualification will certainly be retained in my government”. Ahmadinejad said in choosing members of his cabinet that […]

Chevron Criticizes Chinese Rival’s Bid

A top executive at Chevron has sharply criticized the competing $18.5 billion bid for Unocal by China’s third-largest oil company, saying it would result in an inferior combination that would produce less oil and natural gas than a Chevron acquisition and would turn Unocal into a company “strategically focused on China.” The executive, Peter Robertson, […]

China on global hunt to quench its thirst for oil

Robert Collier, Chronicle Staff Writer Sunday, June 26, 2005 Move over, Big Oil. There’s a new oilman on the world stage — China. China’s takeover bid for Unocal Corp. makes clear to sticker-shocked Americans that the 1.3 billion Chinese people are demanding an ever-larger supply of the world’s energy to fuel their booming economy and […]

Rediscovering Old Oil Reserves in Appalachia

Cincinnati- Spurred by the nation’s relentless thirst for energy, geologists are suddenly taking a fresh look at the oldest oil-producing basin in the world. They are wondering if Mother Nature stashed a jackpot in the cellar, down deep where the rocky roots of the Appalachian Mountains spread into Ohio. With crude oil at almost $60 […]

Richest nation in the world lives on borrowed money

Even if consumers haven’t heard the message about out-of-control debt levels, they’re likely to feel it soon: By the end of the year, all major credit card issuers, under pressure from federal regulators, are expected to double their minimum monthly payments. It’s not a punitive measure: The move is designed to help consumers get out […]

Fears Over Oil Price Stalk Japan

Oil prices yesterday hit $60 a barrel for the second straight day, casting a shadow over Japan’s economic recovery. As oil traders predicted a further rise towards $70, Heizo Takenaka, Japan’s economics minister, said Japan’s economy “was showing positive signs but oil prices may become a risk factor”. His concerns were echoed by Hiroyuki Hosoda, […]

Oil at $100 a Barrel Will Do More to Save the Planet

If the world were to adopt best practice for energy use, it could maintain its standard of living on perhaps 80 per cent of present consumption, maybe a bit less. The useful effect of higher oil prices is to drive the world towards adopting best practice. The market mechanism might succeed where international political debate […]

Gold Rush May Mean Inflation Bust

Gold rising along with the dollar — and with oil jumping to record highs near $60 a barrel — may signal serious inflation woes ahead. It’s enough to give a gold bull deja vu. A handful of precious metals insiders at the recent New York Institutional Gold Conference predicted that the price of spot gold […]

Fire Up the New Green Fuel: Wood

AS many as one in 10 of ScotlandSunday Herald

John Houghton: Take the Flood Tide Now

These facts are becoming increasingly well known, and not before time. More and more people are saying, “Something must be done.” Earlier this month, the scientific academies of all the G8 countries, including the US, plus China, India and Brazil, issued a unanimous and unprecedented statement. It calls on world leaders at the G8 summit […]

Shock as Iran Elects Hardline President

His admirers hail him as Iran’s Robin Hood, his critics a religious extremist. But yesterday Mahmoud Ahmadinejad became the president elect of Iran, basking in an electoral landslide few had foreseen and which put Islamic hardliners firmly in control. Government figures showed more than 17 million votes for Ahmadinejad, 49, the blacksmith’s son who has […]

Nuclear Plants ‘To Cost UK Billions’

A NEW generation of nuclear power stations could be built in Britain, but only if the UK government is prepared to throw billions of pounds worth of public money into the project, according to a leading economic think tank. The report by Oxera, published tomorrow, concludes that the potential returns on investment in new nuclear […]

China Throws Down Gauntlet to USA Inc

If you want to understand the global economy and feel the pulse of capitalism in the early 21st century, look no further than the $19 billion bid by the China National Oil Operating Company – Cnooc – for Unocal of California. Add a large measure of geopolitical tension, and you have probably the single most […]

Thirst for Oil Keeps Petrol Price Rising

If you think petrol prices are already too high, the bad news is that they are likely to get even higher. Crude oil prices touched US$60 ($85) a barrel for the second consecutive day on Friday, causing world markets to shudder. Oil traders have warned that prices are likely to rise higher yet, as China […]

Cruise Lines Feel Oil-Price Fears

It ought to be smooth sailing for cruise operators. Passenger bookings are the busiest in four years, fares are surging for summer and fall trips, and fewer new ships are being launched — meaning cruise companies have greater freedom to raise prices. But you wouldn’t know that from the share prices of cruise-industry giants Carnival […]

FTSE Dominance Beckons for Oil and Gas

THE oil and gas sector is set to depose the financial sector as the most valuable on London’s FTSE index within months of Royal Dutch Petroleum merging with Shell Transport and Trading on July 20. Shareholders meet on Tuesday to vote on whether to merge the two companies, setting in motion a process that index […]

Putin Tells U.S. Business – Invest in Russia

Russian President Vladimir Putin sought to reassure the U.S. business elite on Saturday he was determined to turn Russia into a more investor- friendly country — but made no mention of the word “YUKOS.” The Kremlin leader greeted top executives from U.S. corporate giants including Citigroup, ConocoPhillips, Alcoa and IBM at the baroque Konstantinovsky Palace […]

Beyond Oil: The View from Hubbert’s Peak

Kenneth S. Deffeyes is a professor emeritus of geology at Princeton University and one of the geologists who has been warning us for years about Peak Oil. Beyond Oil is the follow-up to his book HubbertOnline Journal

What Does ”Peak Oil” Mean to You?

Peak oil discussed on radio show “Marketplace”.

“A long view on oil from commentator Mark Hertsgaard.”

Marketplace

OPEC Chief Contacts Cartel Members to Calm Soaring Oil Prices

OPEC’s president said Saturday he had contacted the Saudi and Qatari oil ministers as part of consultations with cartel members to study measures to calm soaring oil prices. Kuwaiti Oil Minister Sheikh Ahmad al-Fahd al-Sabah told reporters he had started contacts on Friday with his Saudi and Qatari counterparts, Ali al-Nuaimi and Abdullah bin Hamad […]

Algeria’s Khelil Sees Oil Above $50 This Year

Algeria’s Energy and Mines Minister Chakib Khelil said on Saturday that oil prices will not go below $50 per barrel this year, pressured by a lack of refinery capacity. “We are going to have very big pressure during the summer and at the same time refineries will have to work hard to be ready for […]

Iran’s Oil Policy to be Reviewed

Iran’s president-elect Mahmoud Ahmadinejad has said that oil production and export deals in the world’s fourth-largest crude producer needed to be clarified. “The country’s biggest capital today is the oil industry and our oil reserves,” the ultra-conservative Tehran mayor said in a radio address after winning presidential elections. “The atmosphere ruling over our deals, production […]

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