Bad News for Oil Consumers

ALAN KOHLER: Well, is $60 a barrel just a spike or are high oil prices here to stay? So far, efforts to rein in praises seem to amount to little more than jaw boning in the face of the insatiable appetite both in China and the west. And for consumers of oil there’s little good […]

Facing Our Energy Predicament

Steve Andrews’ business card says “consultant … focus on energy issues.” Perhaps “worrywart” might be a better word than consultant. When it comes to energy issues, and specifically the oil industry, Andrews could easily be mistaken for a pessimist. A realist is what he is. Because so few Americans really do worry about the future […]

Saudi Arabia Says Kills Top Al Qaeda Militant

Saudi Arabia’s security forces killed a most-wanted al Qaeda leader in a clash in the capital Riyadh early on Sunday, the Interior Ministry said. Moroccan national Younis Mohammad Ibrahim al-Hayyari, accused of involvement in a series of recent attacks in the world’s biggest oil exporter, died after exchanging fire and hurling hand grenades at police, […]

Spokesman Warns of Oil Price Risk

Very high oil prices risk weighing on French economic activity and any joint initiative that would help drive them lower would be a step in the right direction, French government spokesman Jean-Francois Cope said on Sunday. His comments chime with Prime Minister Tony Blair’s call on Saturday for efforts to reduce oil prices, which have […]

Saudi Arabia To Implement Business Friendly Measures

Saudi Arabian Crown Prince Abdullah bin Abdulaziz has approved a number of measures aimed at improving the business environment in the oil-rich kingdom, the Saudi General Investment Authority said Sunday. It said Crown Prince Abdullah, who is the de facto ruler of Saudi Arabia, has endorsed 17 agreements it concluded with investment-related governmental agencies. “The […]

Iraq Tallies $11.4 Billion in Lost Oil Revenue

Iraq has lost about $11.4 billion due to damage to oil sector infrastructure and lost revenue since petroleum exports resumed after the U.S.-led invasion two years ago, an Iraqi oil ministry spokesman said Sunday. Assem Jihad told Dow Jones Newswires that there had been 300 acts of sabotage against Iraqi oil installations between June 2003 […]

Want trumps need in ‘05 energy crisis

Sunday, July 03, 2005 Roger Mezger Plain Dealer Reporter The lesson not learned, Callahan believes, is that another ’70s-style energy crisis could easily happen in a country that holds only about 2 percent of known global oil reserves but gorges on a quarter of the energy used worldwide. “Do the math,” she says. “It’s simply […]

US gives way on carbon pollution

A historic deal on climate change which would see the US sign up to cut greenhouse gas emissions was last night emerging after a day of frantic negotiations ahead of the G8 summit. The draft text hammered out by officials meeting in London is expected to pledge the world’s richest countries to wean themselves off […]

Oil ‘will hit $100 by winter’

Oil prices could rocket to $100 within six months, plunging the world into an unprecedented fuel crisis, controversial Texan oil analyst Matt Simmons has warned. After crude surged through $60 a barrel last week, nervous investors were pinning their hopes on a build-up in US oil-stocks to depress prices in the coming months.The Observer

Expert View: We’re on a different planet in fighting global warming

Environmental policy used to be the province of the beard and sandal brigade. Today the suits have to pay attention. Climate change has become a big issue, and the UK is using its presidency of the G8 to move it even further up the political and business agenda. The long-term aim is the strict implementation […]

Save 18c a litre in battle of the bowsers (Australia)

A PETROL price war saving customers up to 18c a litre has begun as small businesses try to lure customers away from major retailers. Businesses ranging from home lenders to chemists, independent supermarkets and service stations are launching discount fuel offers designed to attract motorists struggling to cope with record petrol prices. The Sunday Telegraph […]

Theft of gas rises as price goes up

Thefts of fuel from service stations are rising with the price of gasoline, and states are cracking down with stiffer penalties for pump-and-run pirates. As the average price of a gallon of regular gas, $2.21, stands near record levels this holiday weekend, gas station owners say thefts are soaring. In response, at least 10 states […]

World’s Crude Awakening as Oil Hits $60

Most of the experts didn’t see $60 oil coming. Late last year, when prices pushed through $50, it was widely seen as a short-term ’spike’, driven by hedge funds and other speculative investors. Traditional models suggest that when the oil price jumps, global consumers take their foot off the gas. Economic growth slows, demand for […]

Water Plant Fire Deepens Misery for Millions in Baghdad

A mortar attack sparked a fire Friday that forced authorities to shut down a water plant, leaving millions of weary Baghdad residents with dry taps in 100-degree heat, Iraqi officials said. Just a day earlier, the mayor of the capital threatened to quit because of mounting infrastructure problems — including a lack of clean drinking […]

Climate Change: Warnings of Imminent Disaster Fall on Deaf Ears

If a select international group of architects and engineers warned that a house already showing cracks and leaks was in danger of collapse, the residents would logically adopt immediate measures to prevent the imminent disaster. But when it comes to the warnings made by scientists about the impact of climate change on the planet, their […]

Threats of Peak Oil to the Global Food Supply

A paper presented at the FEASTA Conference, Richard Heinberg’s Museletter via Energy Bulletin

Tony Blair Off to Saudi Arabia

Britain’s Prime Minister Tony Blair left London for Saudi Arabia on Saturday where he will meet Crown Prince Abdullah and discuss a range of Middle East issues, his Downing Street office said. The short trip is his first to Saudi Arabia since 2001. “This is an important time for the Middle East, not just in […]

Nigeria’s Oil to Dry Up in 38 Years – Survey

Nigeria’s proven hydrocarbon (oil) reserves currently estimated to be in the region of 31 billion barrels is to dry up in the next 38 years, that is, by the year 2043, a global survey has shown. Oil is currently the backbone of the Nigerian economy, accounting for 90 percent of total foreign exchange revenue. With […]

Personal carbon quotas considered

Plans to limit energy use by giving everyone an individual carbon allowance are being considered by the government. The “domestic tradable quotas” scheme could help the UK comply with the Kyoto Protocol, think tank the Tyndall Centre for Climate Change Research suggested. The plan would see people issued carbon units – each equivalent to 1kg […]

Ancient mountain glacier in danger

Scientists in India have warned that the ancient glacier that feeds the holy river Ganges is likely to melt down before the end of the century. They say it could disappear even faster if climate change speeds up. They say man-made carbon dioxide (CO2) emissions are almost certainly to blame for the current level of […]

Energy ration cards for everyone planned

Every individual in Britain could be issued with a “personal carbon allowance” – a form of energy rationing – within a decade, under proposals being considered seriously by the Government. Ministers say that increasingly clear evidence that climate change is happening more quickly than expected has made it necessary to “think the unthinkable”. The Telegraph

World Supply of Oil Being Sucked Dry

Waking up, you reach for the lights, but they don’t turn on. The house is cold, but there’s no heat to warm your toes or cook breakfast. Grabbing the keys, you hop in the car for the commute to work. The engine won’t start. Instead, a red light flashes from the dashboard. You’re out of […]

Venezuela Looks to Expand Oil Reserves

Venezuela will begin selling off 27 new oil-exploration blocks in the Orinoco tar belt as soon as state oil company Petroleos de Venezuela S.A. finishes calculating the oil reserves in each zone, company president Rafael Ramirez said yesterday. “We’ve begun the certification of all these reserves,” Ramirez told a news conference. Venezuela looks to increase […]

Oil Prices Jump More Than $2 a Barrel

Oil prices rose by more than $2 a barrel on Friday in a shortened trading session ahead of the three-day holiday weekend in the U.S. Traders shrugged off a rise in OPEC’s official production ceiling – a move they called symbolic – and they played down the significance of a decision Thursday by the oil […]

Rising Cost of Oil Imports Counters Debt Relief for Africa

Africa’s poorest countries could lose the benefits of a debt relief package because of a sharp jump in the cost of their oil imports. The debt deal, agreed by Group of Eight finance ministers last month, is set to save sub-Saharan African nations about $1bn (Financial Times

First hydrogen plane tested in US

A US company says it has successfully completed test flights of a potentially environment-friendly aircraft powered by liquid hydrogen. Liquid hydrogen stored on board and oxygen extracted from the air are combined in fuel cells. The electricity generated drives the propellers. BBC

AAA: 4th of July Travel Could Set Record

AAA says the Fourth of July weekend beginning today could see more Americans traveling than ever before. The automobile association estimates more than 40 million Americans will be traveling at least 50 miles from home over the long weekend.AP via MyWay.com

Bridging the Gap: Alternatives to Petroleum

Raise the Hammer has written about energy issues rather extensively in our hammerblog, as well as writing reviews and conducting interviews (see the bottom of Part I for a list of links). As we wind up the hottest June on record, it seems a good time to take stock of the issue in a more […]

Review: ”Beyond Oil” by Kenneth Deffeyes

While studded with gems of information and insight, overall I found this book somewhat disappointing. As a former colleague of M. King Hubbert at Shell, geologist Kenneth Deffeyes gives an excellent account of the theory behind “Peak Oil” – in particular the compelling straight-line plots comparing current to cumulative production that are the surest foundation […]

Energy Policy: It’s Bound to Get Worse

When the public is upset, Congress feels the need to look engaged. So, the Senate passed an energy bill on Tuesday that will allow its members to say they are reacting to high gasoline prices. That may be good for the senators. But it will be a big surprise if the end result is beneficial […]

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