IEA Chief: OPEC Doesn’t Have 2 Mln B/D Of Spare Capacity

The head of the International Energy Agency questioned Tuesday OPEC’s ability to live up to its offer of an extra 2 million barrels a day of oil. “OPEC will be able to make more crude available, but it would be less than 2 million, somewhere between 1 and 1.5 million b/d,” IEA Executive Director Claude […]

China accused of inciting gas row

Japan has accused China of starting production at a controversial gas field in the East China Sea. Japan’s Trade Minister Shoichi Nakagawa said flames had been seen at a Chinese development in the area. BBC

Indian airspace buzzes with first-time flyers

Until recently, air travel across India was only for businessmen and women, foreign tourists, and visits home from the country’s vast diaspora. Fares were prohibitively expensive and the middle class travelled on the British Raj’s most visible legacy: the railways. But a booming economy, a congested and crumbling train network and the emergence of low-cost […]

The Real Oil Shock

One expert argues that the Saudis won’t be able to meet demand; we’d better prepare now By MATTHEW SIMMONS Between 1950 and 2005, the world’s use of oil grew more than eightfold, bringing global demand to 85 million bbl. of oil per day. Despite that incredible growth, the world’s oil appetite is just getting a […]

Energy leaders search for crude solutions

London conference addresses oil-production problems LONDON – With global oil production already stretched to the limit, hurricane Katrina put a serious crimp in the worldAt a two-day conference here, oil industry executives, analysts and leaders from oil producing countries are looking at a variety of pieces of the puzzle. But the central question remains: Can […]

Cabbies around the country seeking higher fares

NEW YORK (AP) Valmord shook his head. Like most New York cabbies, he is an independent operator who leases his taxi for $105 to $129 a day. Fuel costs him $35 more, meaning he sometimes spends hours hustling for fares before he makes a dime. On his worst days, he goes home from his 12-hour […]

Forget Yukos, bankers fall over themselves to lend to Russian oil Co.s

Western banks agreed to a record $12 billion loan to gas giant Gazprom to acquire Roman Abramovich’s Sibneft oil firm in a deal that would give the Kremlin control over one-third of Russia’s oil, senior bankers said on Monday. Bankers said Gazprom secured the loan at a meeting in Moscow with a consortium of Western […]

Will biofuels cut our dependence on fossil fuels?

Future demand for food, feed, fibres and fuels may well be secured via renewable resources and new biological processes, said a conference on the EU’s development towards becoming a bio-economy. A bio-based economy is one that relies on renewable resources and new biological processes in its manufacturing base. “Such a bio-economy will assist rural development […]

EU breathes LIFE into environmental technologies

The European Commission has announced that it has selected 89 innovation projects out of the 534 applications it received from public and private organisations to finance environmental innovation projects under the LIFE-Environment programme. With 27 million euros (39% of the total), waste management amounts to a substantial part of the 71 million euros the Commission […]

India rated third in wind energy potential

India’s energy potential is rated the third largest in the world, with annual installations of 875 mega watts (MW), only after Europe and US, exceeding forecasts of 500 MW, according to analysis by Danish consultants BTM Consult. This accounts for 10.7 per cent of the total MW of capacity added globally. India’s cumulative wind energy […]

Global oil majors to sell LNG to India

Global oil and gas majors Shell and Conoco Phillips have offered to sell Australian liquefied natural gas (LNG) to India to meeting its growing energy needs, Petroleum Secretary S C Tripathi said on Monday. “Conoco Phillips is selling LNG to South East Asia at a price that is not significantly higher than the price at […]

The Slow Flow of Russian Oil

The stakes are high. By some rankings, Russia is the world’s second-largest oil exporter after Saudi Arabia. Energy ministry projections cited by the United States Energy Department show crude oil exports rising possibly to 5.5 million barrels a day this year, from 5.14 million barrels in 2004, and reaching 6.2 million barrels a day by […]

France urges G-7 action on oil production, refining capacities

France will urge other wealthy countries this week to raise the pressure on oil companies and exporting countries to invest in new capacity, Finance Minister Thierry Breton said Monday. Breton, who last week used the threat of a windfall tax to wring price and investment pledges from France’s Total SA, said he would recommend the […]

More Intense Heat Waves Could Slam California’s Energy Grid

Climate change and rolling blackouts may be a package deal. More frequent and intense heat waves expected in California over the next 100 years could overburden the statePhysOrg

Ireland ‘must switch to renewable energy’

Ireland needs to switch over to 100% renewable energy within 50 years to avoid spiralling fuel costs and combat global climate change, the Green Party said today.BreakingNews

Two oil discoveries in the Mediterranean and Mansoura

Egypt achieved two important discoveries for oil and natural gas in the Mediterranean Sea and South Mansoura concession area.ArabicNews

Peak Oil – A Sobering Look From ExxonMobil

1) Four OPEC countries hold all of the cards when it comes to the ability to increase oil production to meet worldwide demand: Iraq, Saudi Arabia, Kuwait, and UAE. In fact, the ExxonMobil forecasts flat out hinge on OPEC’s ability to increase production significantly after 2010.2) Much of what is being counted as AllSpinZone

Government can work better with private sector to solve problems

Sensible and competent government in partnership with the private sector is necessary to wean Americans from dependence on OPEC and Middle East oil. Colorado shale requires large up-front investments to develop. Why not provide incentives in the form of purchase guarantees from the Strategic Petroleum Reserve to buy domestic oil above the market price? Our […]

‘Customers leaving British Gas’

Nearly one in five British Gas customers plan to switch to a cheaper supplier following the company’s fourth price hike in three years, new research shows.ThisisLondon

The New Clean Fuel: Coal Producer Goes Green

Among environmentalists, American Electric Power Co. (AEP ) has long been the enemy. Now, AEP Chairman and Chief Executive Michael G. Morris wants to construct at least two more coal-hungry plants along the Ohio River — but this time environmentalists are wishing him Godspeed. BusinessWeek

Official: Oil ‘Like a Girlfriend’ – Leave Her Before She Leaves You

Le Monde reveals today that the IEA (International Energy Agency), the official energy watchdog for the Western countries, will announce in its yearly report, due to be published on 7 November, that non-OPEC oil will peak around 2010 and that we should all get ready to make serious efforts to lower our consumption. Conventional oil […]

Singapore company converts Waste2Energy

A company that converts waste into energy is getting a lot of attention these days as oil prices keep rising. “Give me all the shit you can” is what Waste2Energy chief executive Steve Peters says to investors looking to finance his projects, literally.The company, established in January, is poised to take on numerous projects in […]

US Judge Dismisses States’ Global Warming Suit

A New York federal judge dismissed a global warming lawsuit brought by eight states and the city of New York against five utilities, saying the issue is one for Congress or the president, not the judiciary. PlanetArk

Ener1 Inc. Wins Governor’s Innovation Award for Advancements in Fuel Cell Techno

Ener1, Inc. (OTC Bulletin Board: ENEI) announced today that it has won the annual Florida Governor’s Innovation Award for its development of unique fuel cell technologies. Ener1 was judged to “best exemplify innovative leadership” based on Ener1’s alternative fuel technologies, specifically its subsidiary EnerFuel’s ongoing partnership with the state of Florida in the development of […]

United Solar Ovonic Enters Into MOU for joint venture in China

Energy Conversion Devices, Inc. (ECD Ovonics) today announced that United Solar Ovonic, its wholly owned subsidiary, has entered into a Memorandum of Understanding with Tianjin Jinneng Investment Company (TJIC) to form a joint Venture to establish a 25-megawatt (MW) thin-film triple-junction amorphous silicon photovoltaic module manufacturing operation in Tianjin, the People’s Republic of China. Automotive

Energy Prices No. 1 Threat to Economy, Survey Says

Lofty energy prices have supplanted terrorism in the eyes of economists as the biggest short-term threat facing the U.S. economy, a survey released Friday showed. The National Association for Business Economics said a survey of 202 of its members found that 30 percent now view energy prices as the biggest risk to growth, up from […]

The Truth About Oil

MYTH NO. 3: WE’RE RUNNING OUT OF OIL. REALITY: This one is true. Sort of. Unlike wind or water, oil is not a renewable resource. So by definition we’re using it up, in the same way that we are all dying all the time. The real question is, When will it become impossible (or impossibly […]

The Oil Drum: Here Comes Rita (or Your Eighteenth Nervous Breakdown)

A note from our industry insider: We are starting evacuation tomorrow from the eastern Gulf. If storm follows the edge of the OCS, it will take it through areas already damaged by Katrina, and then into the western Gulf where most of the natural gas production is. If it stays a hundred or so miles […]

Russia to Freeze Gasoline Prices

Russia’s major oil producers agreed Monday to freeze their gasoline prices in the country until the end of the year, the Interfax news agency said, citing the Industry and Energy Ministry. The oil companies made the decision at a meeting with Industry and Energy Minister Viktor Khristenko, Interfax quoted ministry spokesman Stas Naumov as saying. […]

Automakers shift from bad to worse

Lee Iacocca, who led Ford in the 1970s and is credited with saving Chrysler from extinction in the 1980s, summed up the grim mood in Detroit when he visited his adopted hometown last week and chided its automakers for lagging the Japanese in developing fuel-sipping hybrids. “They should get off their asses and build more […]

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