‘Plan now for next oil crisis’: New Zealand

An oil crisis could strike with little warning and the Government should act now to ensure it is prepared, oil industry watchers say. Their comments follow the release of a Government-commissioned report suggesting carless days and petrol rationing as options in an oil crisis. Stuff

Will Climate Wake Up Call Be Answered?

Stanford Professor Stephen H. Schneider called the latest reports “the latest of a few hundred wake up calls that don’t seem to stir the slumbering political establishment in the United States, though whether this is a tiny ring or a clarion call remains to be determined.” Schneider observed that “increased intensity of hurricanes, many more […]

More Digging into the CERA Report

Econbrowser has kindly printed, and directed us to a source for the CERA predictions on supply growth. A quote from that source may be an appropriate start Now, as to the numbers, given the length of time that it will take to go through all of them, and that this is the end of the […]

An oil fortune bound in red tape

U.S. investor, partner get entangled on Romania’s path to open markets G. Philip Stephenson does not cut the figure of an Eastern European oil baron, clashing with formerly communist security officials over the legality of his budding empire. Stephenson is a talkative, Texas-bred lawyer and former U.S. Treasury official who in the past four years […]

Gasoline Prices Reflect Peak Oil, Not Merely Oil Pricing

Jan Lundberg, veteran petroleum analyst who joined the environmental movement and fought industry expansion, has a different explanation for record gasoline prices than the one provided by his former firm, Lundberg Survey, which on Aug. 14 attributed them only to high crude oil prices. “The peak of world oil extraction is approximately now, although reserves […]

Permit for controversial windmill park revoked

The federal government has revoked the permit issued for the construction of a controversial windmill park off the coast at Knokke, Belgium. The decision almost certainly spells the definitive end to the project of Seanergy, a consortium of energy company Electrabel and dredging firm Jan De Nul, newspaper ‘De Tijd’ reported on Tuesday. The project […]

Fuel Rule Change for Big S.U.V.’s Seen as Unlikely

The Bush administration is expected to abandon a proposal to extend fuel economy regulations to include Hummer H2’s and other huge sport utility vehicles, auto industry and other officials say. The proposal was among a number of potential strategies outlined by the administration in 2003 to overhaul mileage requirements for light trucks – sport utility […]

The Rimini Protocol: an oil depletion protocol

Dr Colin Campbell’s ASPO Ireland is working on encouraging action on peak oil through the Rimini Protocol. The oil depletion protocol was first proposed at the 2003 Pio Manzu Conference and will be the central theme of the next Pio Manzu Conference, Rimini, Italy on October 28-30 2005. The protocol’s aim is to head off […]

Wal-Mart Worries About Gas Prices

While Wal-Mart Stores blamed higher gas prices for cutting into its sales in the second quarter, CEO Lee Scott said Tuesday he’s concerned that the worst may be yet to come. “I do feel good about the economy, but I worry about the effect of higher oil prices,” Scott said during the pre-recorded call that […]

Energy deficit grows, solutions wither

In his new book on the coming energy catastrophe, “The Long Emergency,” James Kunstler describes “an age-old tendency of humans to believe in magical deliverance and to wish for happy outcomes” when confronted with immense problems. Resource depletion is one of those problems. Recent stories playing up sporting events, movie star romances and the fate […]

$3/Gallon Record Reaction: ”It’s Robbery”

For drivers, shock to subtle shifts Lots of things cost about three bucks, from a pair of socks to a takeout burrito. But one of life’s essentials has never made the list. Until now.A handful of service stations in California, Illinois, Nevada, Washington state and Hawaii have begun selling self-serve unleaded regular gasoline for

India’s Oil & Natural Gas Has Bid for PetroKazakhstan

India’s Oil & Natural Gas Corp. and steel billionaire Lakshmi Mittal offered to buy PetroKazakhstan Inc., the third-largest oil producer in Kazakhstan with a market value of $3.3 billion, to boost the south Asian nation’s supply. The Indian company submitted a bid yesterday, Chairman Subir Raha said in a phone interview today. More than one […]

Gulf-India relations get fresh energy boost

The foundation of relations between the Gulf Cooperation Council (GCC) countries and India are strong enough given the historic links, presence of about four million Indians in the region, about $5bn in annual remittance and a potential $15bn-plus trade bill in 2005. Though both are beginning to see eye-to-eye politically as well, trade will remain […]

Renewable energy plant under consideration

Investigations are under way into the feasibility of constructing a renewable energy plant adjacent to Dartmoor’s sawmill, in a move that would secure the future of its 120 workers. GTFP regional manager Wayne Glynn says in addition to creating 200 jobs during the construction phase and 20 permanent jobs upon completion, the initiative would provide […]

Three-way pull in Iraq

The new Iraqi constitution risks beginning an era of the virtual carving up of Iraq. The Kurds and the Shi’ites are operating on the basis of a zero-sum game, whereby any one group’s gains would approximately equal another group’s losses. The Kurds are determined to get the autonomous oil-rich northern section. Not to be outmaneuvered […]

Iran oil hopeful may purge old order, woo investors

Iran’s new oil minister is expected to purge the state-run National Iranian Oil Co (NIOC) but still keep an open mind towards foreign investment in the world’s fourth largest crude producer. A tall order for oil industry outsider Ali Saeedlou, if, as expected, the acting mayor of Tehran gets Parliament’s stamp of approval in the […]

Groundwork for Indo-US nuclear energy talks begins

The US administration has started work on the legislative changes necessitated by the joint statement signed by Prime Minister Manmohan Singh and US President George W Bush last month. The Oil & Natural Gas (ONGC) working group under the Indo-US energy dialogue has already started discussions on possible collaboration between India and the US on […]

Russia’s Internal Demand, Tax Policy May Trim Oil Exports

Growth in Russia’s crude oil exports may become a casualty of increasing domestic demand for petroleum products and new export tariff policy that encourages companies to refine the crude at home. Heavy application of western technology to aged fields has made Russia one of the world’s leading exporters of crude oil. But those exports are […]

Soaring oil prices ‘to hit world economic growth’

Record high world oil prices will cut world economic growth by 0.8 points in 2005 and widen current account gaps both in rich and emerging economies, the International Energy Agency’s chief economist said yesterday. New production expected to come on stream in oil-producing nations by the end of this year can boost supply in early […]

Nuclear Powers Up

The Case: Improved nuclear-power technologies are at hand–but the public is still wary. Entergy Nuclear decided that before proposing a new plant, it should band together with other utilities, lobby for subsidies, and make the link between nuclear power and the “hydrogen economy.” But the job of actually building plants requires much more than better […]

Rising oil costs may kill off rare price control bastion

Beijing will soon launch a review of how it regulates oil and natural gas prices in a move that could result in more market-driven regulation that ties domestic prices more closely to the world market, government sources said. The effort begins this month with a high-level meeting organized by the pricing bureau of the National […]

UN nuclear watchdog rebuts claims that Iran is trying to make A-bomb

The UN nuclear watchdog is preparing to publish evidence that Iran is not engaged in a nuclear weapons programme, undermining a warning of possible military action from President George Bush. Iran is about to receive a major boost from the results of a scientific analysis that will prove that the country’s authorities were telling the […]

How Bush would gain from war with Iran

Iraq is proving an electoral liability. This is a threat to the Bush team’s intention to retain power for the next decade – perhaps, as the author Bob Woodward says, with President Cheney at the helm. War with Iran next spring can enable them to win the mid-term elections and retain control of the Republican […]

The Chinese Puzzle

One often forgets that while we have hurricanes at this time of year (though it looks as though Irene is heading back out to sea, and the 10th depression this year is now dissipating), similar problems occur in Asia with typhoons, their name for the same thing (and they have seen their 10th severe storm […]

Chavez Threatens to Cut Off Oil Exports to US

Venezuelan President Hugo Chavez has threatened to cut off oil exports to the United States if Washington does not stop the ‘aggressions’ against his leftist government, Agence France-Presse reported. ‘We do not want to break relations with the US government,’ Chavez said Sunday. ‘It is not in our plans, but if the aggressions continue to […]

Beneath the Surface: Stephen Roach

Those who felt that $50 oil would derail the global economy have been dead wrong. Why worry about $60 or even $70? The reason to worry, in my view, is that the cost of this cyclical resilience in the face of an energy shock is not without serious consequences for an unbalanced world. In particular, […]

Gas Prices Around the World

Gasoline prices in the United States, which have recently hit record highs, are actually much lower than in many countries. Drivers in some European cities, like Amsterdam and Oslo, are paying nearly 3 times more than those in the U.S. The main factor in price disparities between countries is government policy, according to AirInc, a […]

”Peak Oil” Issue Piques Interest

Some experts say the world’s oil production peak could be five to 15 years away. Others scoff, noting it’s been predicted for decades. And besides, skeptics say, new technologies will bring more oil to the market. The city of Denver will wade into the debate when it hosts a two-day seminar Nov. 10-11 on “peak […]

DOE Outlines Research Needed To Improve Solar Energy Technologies

To help achieve the Bush Administration’s goal of increased use of solar and other renewable forms of energy, the Department of Energy’s (DOE) Office of Science has released a report describing the basic research needed to produce “revolutionary progress in bringing solar energy to its full potential in the energy marketplace.” The report resulted from […]

Financial Preparations for Peak Oil

Events in the oil markets seem to be moving even faster than I had originally expected. While political leaders at all levels of government seem oblivious to the growing imbalance between supply of oil and the worldwide increase in demand, each of us at a personal level have the ability to cushion the financial impact […]

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