Military Expands Homeland Efforts

“The role of the military within domestic American society, both by law and by history, has been carefully constrained, and there is nothing in our strategy that would move away from that historic principle,” said Paul McHale, the Pentagon’s assistant secretary for homeland defense. Still, some of the provisions appear likely to draw concern from […]

Dennis Could Be Category 3 Hurricane By Saturday

Early models show a fast-moving Tropical Storm Dennis moving further south away from Florida later this week and possibly following a path into Louisiana as a Category 3 hurricane with 115 mph winds, according to Local 6 News Meteorologist Tom Sorrells. Tropical Depression 4 became Dennis Tuesday morning and is expected to affect Florida’s weather […]

Energetic Disagreements on Oil

Conventional wisdom holds that oil prices, like anything else, are controlled by supply and demand, and international economic growth is fueling better-than-expected demand (see BW, 7/11/05, “Is There Plenty of Oil?”). Yet oil industry insiders seem to disagree on whether imbalances exist and availability projections. The picture is clouded since reliable data on supply and […]

Oil Stocks: Plenty of Fuel Left

China’s government “gets it” far better than Washington when it comes to energy policy. To Stephen Leeb, president of Leeb Capital Management and author of The Oil Factor, that’s the real message of the bid by China National Offshore Oil Co. to take over Unocal (UCL ) — a company also sought by Chevron (CVX […]

UK Oil Production Dips 11%

BRITISH oil production fell 11 per cent in April, continuing the past year’s trend of declining production, according to the latest Royal Bank of Scotland Oil and Gas index. The June survey says that gas production was also down by 16 per cent on the year. Combined oil and gas production was down 13 per […]

UK Falls Behind in Energy Research Funding

BRITAIN is lagging behind the rest of the Western world in funding research into new forms of energy, it emerged yesterday, as the International Energy Agency called for more investment to combat climate change. Despite the Prime MinisterTimes Online

Gasoline Price Inches Closer to a Record High

The average retail price for gasoline climbed to within a few pennies of the all-time high, while the cost for diesel fuel hit a new record, the government said Tuesday. The national average price for regular unleaded gasoline increased 1.1 cents over the past week to $2.23 a gallon, up 33 cents from a year […]

Urban Sprawl Produces Rich Pickings for Farmland Owners

Urban sprawl in the US is sending the value of farmland soaring to record levels as investors pump money into property development or buy land for recreational purposes, according to a study by the Federal Reserve Bank of Kansas City. The findings, made by the bank’s Center for the Study of Rural America, show that […]

Berlin Pushes for Focus on World Economy

Germany on Monday claimed to have persuaded the UK to widen the agenda of this week’s G8 summit to allow greater debate on world economic trends and high oil prices. Bernd Pfaffenbach, the German government “sherpa” who represents chancellor Gerhard SchrFinancial Times via MSN Money

The Sunset of Oil

Aaron Dunlap suggests the actual date of Peak Oil might be less important than what is done before that point is reached.

U.S. Attorney Ends Investigation of Shell

A federal prosecutor in Manhattan has decided not to prosecute the Royal Dutch/Shell Group of Cos. for overstating oil and gas reserves, officially ending a Justice Department probe of the company. U.S. Attorney David Kelly announced Wednesday he had concluded that “a criminal prosecution of Shell would not serve the public interest at this time.” […]

The Sunset of Oil

Oil Rises, Approaching $60, as Tropical Storm Disrupts Supply

Crude oil rose, approaching $60 a barrel in New York, as Tropical Storm Cindy in the Gulf of Mexico disrupted shipments to the U.S. The Louisiana Offshore Oil Port, the biggest U.S. oil import terminal, stopped unloading tankers today. The storm, which was 125 miles south of the mouth of the Mississippi River at 1 […]

Hydrogen ‘To Solve Energy Crisis’ (Australia)

HYDROGEN power would eventually solve the world’s impending energy crisis, federal Industry and Resources Minister Ian Macfarlane said today. Mr Macfarlane said the Middle East’s stranglehold on oil and the rapid depletion of the world’s fossil fuels exemplified the need for a long-term energy solution. In Brisbane for the Austmine Mining Innovation from Downunder Conference, […]

Thailand introduces conservation measures

Only three energy saving measures to be proposed to Thai cabinet BANGKOK, July 5 (TNA) – The Ministry of Energy will propose only three energy conservation measures to the cabinet for a final approval, according to a senior Energy Ministry official. The three measures, to be proposed before the cabinet at its weekly meeting next […]

New Chevron Advertising Targets Dialogue About Global Energy Issues

Chevron Corporation just launched a new global advertising campaign to raise awareness and encourage discussion about important issues facing the energy industry, including supply and demand, the role of alternative and renewable energy sources and the promise of technology. “Energy, how we find it, produce it and use it, is one of the critical issues […]

BP Says Q2 Oil and Gas Production Rises

BP, the world’s No.2 oil firm by market value, reported slightly higher-than-expected production on Tuesday, reaping the benfits of surging oil prices and raising expectations of another record quarterly profit. The London-based oil giant added in its quarterly trading statement that it was on track to meet its 2005 production goal of 4.1 to 4.2 […]

Oil Companies Evacuate Gulf Workers As Tropical Storm Approaches

At least two oil companies have moved to evacuate workers from offshore facilities in the Gulf of Mexico. The precaution is because of Tropical Storm Cindy, which is headed toward land. Shell Oil Company says 56 of its people have been evacuated. Chevron Texaco says it has started evacuations. However, Shell says on its Web […]

Everything’s Fine. Nothing to See Here. (or, Revisiting CERA)

Heading Out writes: Isn

Energy-Rich Keeping Profit at Home

LA PAZ, Bolivia For centuries, this country made it easy for prospectors to mine, from the Spaniards who plundered its gold to the tin barons of the 19th century to the multinational energy companies that flocked here in the 1990s to develop Latin America’s second-largest natural gas deposits. But like many energy-producing countries these days […]

Pertamina Tells Customers to Ration Gas

Indonesian Vice President Yusuf Kalla on Monday called for people to use less fuel amid nationwide shortages sparked by soaring international oil prices and rising domestic consumption. Queues and shortages have been reported at gas stations around the country in recent days because state-owned oil company Pertamina has struggled to pay the higher oil costs, […]

A Manufactured CPI, Other Perils and Gold

It seems especially clear to gold bulls and contrarians that the global economy is close to a tipping point. Good times don’t last forever, trees don’t grow to heaven, and history has borne out that at some point the excesses of every prolonged economic growth cycle have to be purged. There is mounting evidence that […]

Fuel duty increase delayed again

The increase in UK fuel duty due in September is being postponed again, the government has announced. Fuel duty is due to rise at least in line with inflation every year but Gordon Brown used his Budget in March to defer the rise.BBC

Exploring the Pros and Cons of Microbial Enhanced Oil Recovery

Ianqui writes: “…the latest idea is called MEOR, for microbial enhanced oil recovery. Various labs around the world are engineering special bugs that generate CO2 biologically, along with detergent-like chemicals that help flush oil out of rocks. The microbes can be cultivated underground or in well-side vats. Because they grow explosively, the Energy Dept., which is funding several research projects, says MEOR technology may be the most cost-effective of all tertiary processes.”

more after the jump at The Oil Drum.

Is there life after oil?

I discovered something amazing recently and I tried to tell a bunch of friends about it. A guy in Illinois has, it seems, invented a device that can turn almost anything into oil, plus a few byproducts (all useful).

http://encarta.msn.com/encnet/Features/Columns/?article=life_after_oil

Energetic Disagreements on Oil

Four experts weigh in on where heated prices are headed. They agree on OPEC’s lack of market influence — but little else. With crude-oil prices hovering near $60 a barrel since June 17 and around $50 a barrel off and on since February, oil and energy have been the favorite sons of many a stock-picker. But the question that keeps those successful investors awake at night is: How much longer can it last?(…)Lynch: The fundamentals really don’t justify current prices, and you could argue there’s a $20 speculative premium on the price right now. Last year, there was more of a security premium and a tight market, but that’s not true anymore.

BusinessWeek

Oil prices not yet hurting economy

Why hasn’t oil dragged the economy down, as many forecasters expected? The economy doesn’t depend as much on oil as it once did. Manufacturing jobs have moved overseas, coal and natural gas have replaced oil for fueling electrical plants, and cars go farther than before on a gallon of unleaded.

SF Gate

Pentagon Weighs Strategy Change to Deter Terror

The Pentagon’s most senior planners are challenging the longstanding strategy that requires the armed forces to be prepared to fight two major wars at a time. Instead, they are weighing whether to shape the military to mount one conventional campaign while devoting more resources to defending American territory and antiterrorism efforts. The consideration of these […]

Volatile Prices Make Buying Heating Oil A Slippery Move

Carolyn Hunter always had a ready answer for folks who would ask her for advice on when to buy their home heating oil. Hunter, co-owner of Hunter Petroleum in Carmel, N.Y., used to tell customers to place their orders during the summer because that’s when prices were at their lowest. But that was before this […]

China Tells U.S. Congress to Back Off

“We demand that the U.S. Congress correct its mistaken ways of politicizing economic and trade issues and stop interfering in the normal commercial exchanges between enterprises of the two countries,” the Foreign Ministry said in a written statement. “CNOOC’s bid to take over the U.S. Unocal company is a normal commercial activity between enterprises and […]

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