SUV Glut

SUV and pickup truck owners — already stung by rising gasoline prices — are paying another penalty when it comes time to trade in or sell: falling resale values for the gas-thirsty vehicles. The resale value of large SUVs and pickup trucks is slumping in response to a supply glut, lower demand, higher gasoline prices […]

Peak Oil – Imposed by Nature

A new Peak Oil documentary DVD will be launched on Friday 15th July. Produced by Amund Prestegard, and recommended by Colin Campbell, it takes a look at the causes and consequences of Peak Oil, with a focus on the UK. With a running time of approximately 30 minutes, this fabulous documentary condenses a lot of important and convincing information into a great introduction to what global oil decline means to us all.

PowerSwitch

A slightly different view of China…

Heading Out writes: Given their recent appearance in Colorado, Canada and elsewhere one cannot help but feel that the Chinese are possibly taking this whole question about the world running short of cheap oil a lot more seriously that some other governments…

A lot more after the jump at The Oil Drum.

Hurricane season set to be stormy

Oil revolution will shake nation

Canada, more than most countries, should be able to cope with $100 (U.S.) per barrel oil

Kremlin tightens grip on Russian oil

The curtain has fallen on Act One of Russia’s oil denationalization with the state poised to win control of almost a third of the industry with annual revenues of some $50 billion, a six-fold jump in two years. Act Two is about to begin with industry watchers asking whether the Kremlin will continue its asset […]

Oil and the yuan

Recently, two economic issues have attracted a great deal of attention worldwide: the possible revaluation of the yuan, and the sustained rise in global oil prices. But there have been few attempts to relate the two. Since 2003, the global oil markets have seen radical changes, with oil prices continuing to hit record highs. The […]

Kyoto floundering in the wake of G8 summit

AS the G8 Gleneagles summit proved, there is no consensus on how to combat global warming today or tomorrow but the bell now tolls on a decade of illusion.The Kyoto protocol, with its system of caps, targets and timetables, is being buried with a discretion that conceals one of the great public policy failures in […]

Europe’s greenhouse gas trade hots up

Trade in greenhouse gas emissions is hotting up in Europe as carbon dioxide prices surge and companies buy and sell credits worth hundreds of millions of euros. Energy firms and banks are leading the charge in a market which has ballooned beyond expectation since the European Union launched its pioneering emissions trading scheme in January […]

Corn Ethanol Takes More Energy Than It Makes

Using ethanol as an additive to make gasoline burn cleaner does more harm than good to the environment, finds a new report by researchers at the University of California, Berkeley. The study concludes that the cumulative energy consumed in corn farming and ethanol production is six times greater than the power the ethanol provides in […]

Drilling applications up in most states

Regulators in several states are handling record numbers of drilling applications, reported the Interstate Oil and Gas Compact Commission. A recent IOGCC survey showed that 19 of 24 states surveyed reported increased applications, which are up by a total of 1,069 over the same period a year ago. OGJ

White Nile to explore Ethiopia, South Sudan

White Nile Ltd., a Guernsey, UK, oil and gas exploration company owned 50% by the new government of South Sudan, has reached an exploration agreement with Ethiopia and let a contract for seismic work in South Sudan. White Nile said it had secured permission to explore a 70,000 sq km area in Ethiopia near the […]

Security warnings fly over Chinese bid

China watchers warned a House panel Wednesday that the nation’s security would be put at risk if a Chinese oil company is allowed to purchase Unocal Corp. And lawmakers seem intent on trying to block a deal if Unocal’s shareholders accept a takeover offer from the China National Offshore Oil Co.HoustonChron

The Collapse of Civilization and The Rebirth of Community. (Blog)

The civilization we call the Modern World has already begun to collapse. It has quite simply played itself out. Just as we have sown the wild oats of our careless days, now we must reap the consequences. Some people hold that Deconsumption

Facing energy shortages, China races to expand nuclear power industry

The shadows of Chernobyl and Three Mile Island no longer reach to the pine-crested hillsides of Hangzhou Bay, where China is rushing to expand a nuclear power station to meet soaring demand for electricity for its economic boom. Driven by crushing fuel shortages, smog and ambitions to profit from its hard-won nuclear prowess, Beijing has […]

80 MT coal shortage by 2011-12. (India)

Despite an ambitious growth projection by Coal India Ltd (CIL), the country will face a deficit of 80 million tonne of coal by the end of the eleventh Five Year Plan, according to Union Coal Secretary P C Parikh.CIL is banking on its subsidiaries Mahanadi Coalfields Ltd, South Eastern Coalfield Ltd, Northern Coalfields Ltd and […]

Get ready for future oil shock, lobby group warns. (New Zealand)

Energy lobbyists are calling on the Government to stop wasting money on new roads and plough it into public transport in preparation for a drop in cheap worldwide oil supplies. The Sustainable Energy Forum says New Zealand is poorly prepared to meet the coming peak in the production of conventional light crude oil

Japan stokes China sea dispute

Japan’s government has awarded a Japanese oil company test drilling rights in a potential flashpoint maritime area also claimed by China. Teikoku Oil Co asked for the rights in April, after Tokyo signalled a change in policy to allow test drilling.

U.S. Economy: May Trade Deficit Narrows to $55.3 Bln

Record exports and a decline in oil prices helped the U.S. trade gap unexpectedly narrow to $55.3 billion in May, suggesting trade gave at least a short-term lift to economic growth for the first time in almost two years. The imbalance in goods and services trade dropped 2.8 percent from $56.9 billion in April, the […]

Doubts Rise Over the Great Nuclear Promise

The euphoria over a decision to base the International Thermonuclear Experimental Reactor (ITER) in France seems to be evaporating. What remains is a growing doubt over the feasibility and cost of the project. The project seeks to introduce new nuclear technology. It will seek a nuclear fusion of two hydrogen isotopes (deuterium which exists abundantly […]

China ‘interested’ in NT uranium. (Australia)

China’s ambassador to Australia says China wants to buy the Northern Territory’s uranium, but only if the Territory is willing to sell it. Madame Fu Ying was in Darwin for a major minerals conference.

South American nations looking to solve natural-gas needs

The long-held dream of unifying South America is getting a major push under a proposal to tie the southern half of the continent together via pipelines that would provide desperately needed natural gas. The plan contemplates building a series of pipelines to get natural gas from Peru to Chile and then on to Argentina, Uruguay, […]

Scientists Raise Alarm About Ocean Health

With a record number of dead seabirds washing up on West Coast beaches from Central California to British Columbia, marine biologists are raising the alarm about rising ocean temperatures and dwindling plankton populations. “Something big is going on out there,” said Julia Parrish, an associate professor in the School of Aquatic Fisheries and Sciences at […]

Peak Credit

Poster’s Comments: A good article from SafeHaven which ties togeher themes on this board. As an added bonus, there are not complex charts of theoretical waves or pushes to buy gold!

SafeHaven

Why Can’t We Talk to Each Other? (or, a mining expert and an economist talk PO)

{Heading Out, a “rock guy,” responds to Econbrowser on the different understanding of peak oil by the geology/mining folk and economists…}

…in the end I fear that we are still talking different languages and about different perceived situations. And, unfortunately, there are more economists out there who do not understand the true situation, but are willing to go on the talk shows and comment anyway than there are geologists or petroleum engineers that can be either found, or bothered to refute them. And as a result the general public will not be sufficiently warned in time, and will not appreciate the scale of the problem until after it has arrived.

A lot more interesting conversation after the jump at The Oil Drum…

Is America the World’s 97-lb. Weakling?

“Can America compete?” is the nationFortune

ASEAN Avoids Tough Issues, Touts Biofuel as Oil Fix

Southeast Asian nations pledged on Wednesday to pursue alternative energy to blunt the future impact of $60 oil, but sidestepped any political measures that might provide more immediate relief. Energy officials from the Association of South East Asian Nations (ASEAN) touted biofuels — partially synthetic gasoline or diesel made from crops such as corn or […]

Blue Gold

Remember Chinatown? It was a Roman Polanski-directed gangsteresque portrayal of southern California in the 1940s starring Hollywood badass Jack Nicholson as Jake Gittes, a private investigator who gets involved in some pretty dirty stuff. What the players in the story are playing for, however, isn’t guns or drugs or even really money per se. It’s […]

US Critics See Security Threat in China Oil Bid

China’s bid to buy U.S. oil producer Unocal was part of a calculated challenge to America’s global power and could damage U.S. interests in Asia, American critics of the offer told the first congressional hearing into the deal on Wednesday. “I believe the PRC’s aim is inexorably to supplant the United States as the world’s […]

IEA: Non-OPEC Supply Set to Rebound in 2H 2005, 2006

Crude oil supplies from producers outside the Organization of Petroleum Exporting Countries are set to rebound in the second half of this year and accelerate into 2006, the International Energy Agency said Wednesday. Despite production slowdowns from the former Soviet republics so far this year, output is expected to recover in Russia and the U.S. […]

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