Economy to suffer as oil heads towards $100 a barrel. (UK)

Continued pressure from the price of oil could eventually hit the economy, say fund managers, as falling reserves and increased demand are likely to push the price to $100 a barrel in 2006. Tim Walker, manager of the Martin Currie portfolio investment trust, says even though the cost of oil could eventually affect inflation, the […]

Kazakhs back ONGC’s PetroKazakhstan bid -official

 India’s Oil and Natural Gas Corp. Ltd.’s (ONGC) (ONGC.BO: Quote, Profile, Research) plans to bid for Canadian oil company PetroKazakhstan Inc. (PKZ.TO: Quote, Profile, Research) have the support of the Kazakhstan government, a senior Indian oil ministry official said on Friday. “The Kazakh government is happy with India’s proposal and has assured us of full […]

Energy-hungry China and energy-wasting Indonesia

Less than one week before his departure, President Susilo Bambang Yudhoyono has postponed — maybe even canceled — his state visits to China, Thailand and Brunei. The fuel crisis is keeping him home and wisely so because fuel crises have in the past few years always been a politically hot issue. Indonesia is faced with […]

Russian Oil

The world’s largest oil producers are Saudi Arabia and Russia. The daily output of Saudi Arabia is 9.5 million barrels. From time to time, the Saudis exceed this. The average daily output of Russia, the second largest producer, is 9.3 million barrels. Russia also sometimes exceeds this average, and in recent years, it has even […]

EU Environment Chief Presses for Air Quality Change

New measures to improve Europe’s air quality, put on hold last week, would cost up to 12 billion euros ($14.63 billion) but generate health benefits worth four times that, the European Union’s environment chief said on Thursday The EU executive Commission shelved planned initiatives on air quality and marine protection last week while members reconsider […]

Quenching America’s Thirst for Oil by Joseph S. Nye

The United States consumes a quarter of the worldChosunIbo

Why Iraq oil money hasn’t fueled rebuilding

First, the good news: With oil prices at record highs, Iraq is on track to bring in $20 billion or more in oil revenue this year. That may sound like a lot of petrodollars, especially for a war-torn country with tremendous needs in infrastructure repair and services delivery. But the bad news is that very […]

Japan okays drilling in disputed area of E. China Sea

Japan approved a request July 14 by Teikoku Oil Co. Ltd. to drill for natural gas in the East China Sea along a disputed sea border with China, prompting Beijing to warn about the possibility of worsening ties. “We decided to give the rights as the firm’s application suited Japan’s national interests, international conventions, as […]

Texas gasoline prices shoot to record levels

Texas gasoline prices skyrocketed to record levels this week as crude oil prices stayed near 60 dollars a barrel, according to the AAA Texas Weekend Gas Watch survey released today. The weekly survey found the price of regular unleaded self-serve in Texas averaged a record $2.23 a gallon, up a full 10 cents over last […]

Coal mining’s future scrutinised. (UK)

Leading coal experts are to debate the future of coal mining in the north-east of England at a conference on Friday. They will hear arguments for and against extending open cast mining, an industry worth

Lower energy prices damp down US inflation

US inflation was muted in June as the falling oil price offset gains for food and other merchandise. The US June consumer price index was unchanged from May. The core figure, excluding food and energy prices, rose 0.1 per cent, giving an annual rate of increase of 2 per cent. Economic analysts had been expecting […]

World Threats During June 2005

The most important events this month were related to Iran. Iran conducted presidential elections that, from the start, were manipulated in favor of the Islamic radicals. The Guardian Council, made up of radical, unelected clerics, approved the candidates. Voter turnout was low, as a form of protest against the government. According to my sources, turnout […]

Let Unocal take care of itself

China National Offshore Oil Corporation’s (CNOOC) US$18.5 billion bid for Union Oil of California (Unocal) has triggered security alarms and prompted an outcry against the foreign purchase of a strategic American company. But there is no evidence Unocal needs or wants help suppressing a cash offer which pledges no US job cuts and commits Unocal’s […]

130 new nuclear power plants to be built within 15 years – IAEA

About 130 new nuclear power plants may be built in the world in the next 15 years, a deputy director general of the International Atomic Energy Agency said at an international conference in Moscow Wednesday. Yury Sokolov told the conference, Multilateral Technical and Organizational Approaches to the Nuclear Fuel Cycle to Strengthen the Non-Proliferation Regime, […]

China to build 10 nuclear reactors in east – paper

China Power Investment Corp., one of the country’s major electricity firms, plans to build 10 1,000-megawatt nuclear reactors in the provinces of Shandong and Liaoning to ease reliance on coal, a newspaper said on Friday.   It did not say which nuclear technoogy would be used or when the project’s construction was scheduled to begin […]

Wind power for desal plant. (Australia)

A JOINT venture between companies in Western Australia and Queensland is tipped to win a $30 million contract to provide wind-powered energy for a $380 million West Australian desalination plant.The companies will erect 50 wind turbines at Emu Downs, near Lancelin, about 200km north of Perth. Details were confirmed yesterday by a Dandaragan Shire official.

How much oil do we really have?

By Adam Porter As oil prices remain volatile the markets do their best to forecast future prices. Unfortunately this is not an easy task. While it may appear extraordinary to outsiders one of the main problems in the oil market is the reliability of basic statistics. The oil industry calls the problem ‘data transparency’. As […]

Oil Supertanker Bookings Reach Highest Level This Year in July

Supertanker bookings for oil exports from the Middle East reached their highest monthly level this year in July, doubling shipping costs, as OPEC increased output. Royal Dutch/Shell Group, Europe’s second-biggest oil company, led charterers that booked 119 supertankers to carry oil from the Persian Gulf and the Red Sea to refineries in the U.S., Asia […]

IEA: Non-OPEC LatAm Oil Supply to Rise 230,000b/d in 2006

Latin American oil supply, excluding Mexico and Venezuela, is expected to increase an average 230,000 barrels a day (b/d) in 2006, close to the expected 2005 increase, due to higher Brazilian production, according to the latest monthly report from the International Energy Agency (IEA). Excluding Mexico and Venezuela, Latin American oil supply is expected to […]

Energy Demand to Outstrip Supply

UK oil and gas production is set to fall this year, even as the national economy becomes increasingly reliant on the industry to meet its primary energy needs over the next decade. That is the message from industry body the UK Offshore Operators Association, which yesterday published its annual study of the economic outlook for […]

Sinister Paradise

Sheikh Mo’s architectural megalomania, although reminiscent of Albert Speer and his patron, is not irrational. Having “learned from Las Vegas,” he understands that if Dubai wants to become the luxury-consumer paradise of the Middle East and South Asia (its officially defined “home market” of 1.6 billion), it must ceaselessly strive for excess. From this standpoint, […]

Iraq, Iran to Sign Major Energy Deals

IraqOman Daily Observer

Shell Forced to Admit Russian Costs Have Doubled

SHELL has been forced to admit that the cost of Sakhalin Energy, a vast liquefied natural gas project in Eastern Siberia and a pillar of the companyTimes Online

China

Financial Times

Nuclear Fusion Experiment Confirmed

Researchers at Purdue University have new evidence supporting earlier findings by other scientists who designed an inexpensive “tabletop” device that uses sound waves to produce nuclear fusion reactions. Development of a low-cost thermonuclear fusion generator would offer the potential for a new, relatively safe and low-polluting energy source. Whereas conventional nuclear fission reactors make waste […]

US Officials sounds alarm on China

WASHINGTON — U.S. political leaders say China is waging a stealth campaign to lock up scarce global oil supplies in places such as Alberta’s oil sands to keep them out of the hands of Americans.The Globe and Mail

The Peak Oil Crisis: Rationing

A couple of weeks ago, the British press reported that Her Majesty

LNG Pipeline Leaks – an unintended consequences coming to a port near you

The Washington Post reported on July 7, 2005, eMediaWire

Tax cuts push on climate change

Council tax should be cut by between BBC

Peak Olives

I often joke that every week I could write and sell a one thousand word piece that would consist of “Peak Oil” repeated five hundred times. There is a bottomless appetite for information, and confirmation, about the future of energy, but sadly, explaining it has often been difficult. People grab onto bits and pieces, and […]

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