As Rita approaches the Gulf, over half of production cut off

BATON ROUGE — Three weeks after Hurricane Katrina tore into the Gulf Coast and with Tropical Storm Rita threatening the Gulf of Mexico, more than half of the region’s offshore oil production remained cut off from market Monday, a federal agency said. Following a survey of 54 energy companies, the Minerals Management Service reported 83 […]

Is OPEC becoming irrelevant?

Once all-powerful oil cartel loses its clout when its members are all operating at capacity. NEW YORK (CNN/Money) – While OPEC ministers met in Vienna Monday to discuss future production and price targets for oil, oil analysts and traders were instead focused on the waters off the Florida Keys. There Tropical Storm Rita had the […]

Crude prices spike on new storm fears

Tropical Storm Rita strengthening, seen headed for Gulf of Mexico NEW YORK – Crude-oil futures rebounded above $65 a barrel Monday amid worries that a storm gaining strength off the Bahamas could hit U.S. oil facilities in the Gulf of Mexico later this week. …Benchmark light, sweet crude for October delivery rose $2.80, or more […]

Norsk Hydro to buy oil rival for $2.45 billion

Nordic petroleum company seeks to boost international production OSLO, Norway – Norsk Hydro ASA said Monday it will buy U.S.-based oil and gas company Spinnaker Exploration Co. for $2.45 billion. The Oslo-based petroleum and light metals company said the deal had been approved by the boards of both companies and was expected to be completed […]

Chevron evacuates Gulf before Rita hits

NEW YORK (Reuters) – Chevron Corp. has started to evacuate U.S. Gulf of Mexico offshore personnel before Tropical Storm Rita hits, the company said Monday. “We are evacuating people now,” said a spokesman in Houston.Chevron Research said it was doing nothing different than its normal standard operating procedure, no different than what it did before Hurricane […]

Gas-guzzling buses bust school budgets

School districts across New York are bracing for a budget-busting $36 million increase in fuel costs for buses if diesel prices continue to rise at current rates. Those higher energy costs don’t even include the expense of heating school buildings this winter. For cash-strapped districts, it means possibly curbing field trips and even cutting into […]

Renewables: ‘Pakistan to have 9,700mw of electricity by 2030

Pakistan will have 9,700 megawatts of electricity by 2030 through renewable energy projects based on wind, solar, micro-hydel, fuel cell, tidal, oceanic and bio gas, Air Marshal (r) Shahid Hamid, the Alternate Energy Development Board (AEDB) chairman, told Daily Times in an exclusive interview. By June 2006, he said the AEDB would ensure the installation […]

What to do in a failing civilization

Can global civilization adapt successfully to degradation of the biosphere and depletion of fossil fuels? I argue that it cannot. Important elements of all constituent societies would have to be reformed. Reform would have to be radical and would be uncertain of success. It could be undertaken only in the presence of incontrovertible necessity—a necessity […]

US expansion of nuclear energy faces resistance

The US government has begun preparing the ground for a major expansion of civil nuclear power generation at home and abroad, but it faces serious problems and potentially stiff opposition in both aims. Against the background of the continuing stand-off with Iran over its nuclear programme, Condoleezza Rice, the US secretary of state, chose to […]

India set to forge energy alliances across S. Asia

India is looking at the possibility of emerging as a regional energy hub in South Asia. It has plans to set up bilateral grids with some of the neighbouring countries and forge sectoral alliances with others. Hindu Business Line

Japan’s Demand for Chinese Gas Data Reasonable: Energy Chief

Japan’s demand that China hand over concrete data on its ongoing gas projects is not unreasonable because the area of resource development relates to a dispute over sovereignty, a senior Ministry of Economy, Trade and Industry official said. …Japan is concerned that China might siphon off resources that could be buried under the seabed in […]

Clinton lashes out at Bush

Former US president Bill Clinton sharply criticised George W Bush for the Iraq war and the handling of Hurricane Katrina, and voiced alarm at the swelling US budget deficit. On the US budget, Clinton warned that the federal deficit may be coming untenable, driven by foreign wars, the post-hurricane recovery program and tax cuts that […]

Why the U.S. Must Stay in Iraq

…The “Peak Oil” theory is a myth because it is based on false assumptions. It’s the “big lie” being presented to the world as justification for U.S. military aggression and economic hegemony. It isn’t about oil at all, really, but rather about the unwillingness of the U.S. to “live within its means,” “pay its debts” […]

The third uranium boom, or just a simmer?

Young Jimmy Walker was pumping gas at his uncle’s service station here a half-century ago when he caught uranium-hunting fever. He taught himself geology in one of nature’s best-endowed classrooms anywhere, the red rock Colorado Plateau. He became a prospector in time for a second uranium boom two decades later. Now 77, Walker leans forward […]

Crude Oil Rises on Concern OPEC Has Too Little Spare Capacity

Crude oil rose from a six-week low in New York on speculation an OPEC pledge to pump at full strength would fail to raise output enough to meet demand in the event of another Gulf of Mexico hurricane. OPEC President Sheikh Ahmad Fahd al-Sabah said yesterday the group, source of about 40 percent of the […]

Brown plans fuel tax review as olive branch to petrol lobby

Gordon Brown is to carry out a wide-ranging review into how the Government taxes petrol following last week’s fuel protests, The Independent on Sunday has learnt. The Treasury has agreed to set up a working group which, together with government officials, will include representatives of the UK Petroleum Industry Association, whose members include BP, Shell […]

Report Criticizes State Energy Plan

A report from a state panel that questions California’s current energy policies and presents a bleak view of the future now rests one step away from the desk of Gov. Arnold Schwarzenegger, who has expressed a more positive view of the energy situation. Electricity users will face “severe shortages in the next few years.” Supplies […]

OPEC Producers Increase Refinery Investments to Avert Shortages

OPEC members, who today will consider a sixth increase in production quotas, said they plan to increase investments in oil refineries to help meet fuel demand that has propelled gasoline pump prices to records. Qatar yesterday announced plans to triple its refinery capacity by 2010, in part through a $1.8 billion project. Saudi officials said […]

As gas prices rise, so do number of scams

The Environmental Protection Agency has evaluated or tested more than 100 alleged gas-saving devices and has not found any product that significantly improves gas mileage. Some major fuel dealers offer cash or gas-back programs through their credit cards or other customer loyalty programs — those are reliable, and you should check them out. MyWestTexas

IMF Says OPEC Production Too Low

OPEC will be unable to exceed oil demand to create spare capacity in the next 5 years due to a lack of investment in production and refining, the IMF will warn this week, according to the Financial Times. In a draft section of the International Monetary Fund’s World Economic Outlook published in the newspaper’s Monday […]

Chevron sees its Angola output 700 000 bpd by end-07

US oil giant Chevron is currently producing around 500 000 barrels a day from its Angolan oilfields but a string of new developments will boost this to 700 000 by the end of 2007, the company said at the weekend.EngineeringNews

Open Season On Big Oil

John Browne, the chief executive of BP PLC (BP ), the largest producer of oil and gas in the U.S., is already spending $14.5 billion this year on exploration and production and other capital projects, and he would like to do even more. But we can’t find the rigs, the service contracting, all the things […]

Company eyes Wyo, Montana for $5 billion plant

A South African energy company is believed to be considering Wyoming, Montana, Alaska and Illinois as possible locations for a $4 billion to $5 billion coal-conversion plant.U.S. Rep. Denny Rehberg, R-Mont., said this week that officials from Sasol Limited will visit the United States this month to scout potential sites for an operation that will […]

RISD students build solar-powered house for national competition

The house operates entirely on solar energy and is being built by students from the Rhode Island School of Design for a contest sponsored by the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy. Sales of solar cells, which convert sunlight into electricity, between 2003 and last year increased by 57 percentBostonCom

Feds considering energy rebate program

The federal Liberal government is seriously considering another energy rebate program this winter that would look a lot like a scheme used five years ago – and which drew heat for its scattered approach. Sources say federal officials are scrambling to devise a quick, one-time plan to deliver roughly $1.5 billion into the pockets of […]

OPEC May Offer Every Barrel of Oil Members Can Pump

The Organization of Petroleum Exporting Countries may agree to offer customers every barrel of oil that members can produce, effectively suspending the group’s quota system that has regulated supply for about two decades. OPEC has 2 million barrels of production capacity idle, Sheikh Ahmad Fahd al-Sabah, the OPEC president and Kuwaiti oil minister, said in […]

Can this man save the world?

Most internal combustion engines operate at about 35 per cent efficiency. This means that only 35 per cent of the fuel is fully burned. The rest either turns to carbon corroding the engine or goes out the exhaust pipe as greenhouse gases.
The H2N-Gen increases burn efficiency to at least 97 per cent, Williams said. This saves fuel and greatly reduces emissions.
It also means less engine maintenance and oil changes. The only thing the vehicle owner has to do is refill the unit with distilled water once every 80 hours of engine use.

“At the time we first saw it, it seemed too good to be true,” Scheps said. “But for everything we’re seeing it seems really good. It does work. So we’re moving into phase two. Refinements and further testing.” He cautions that it’s “only a go when everything is finished.” But if all goes smoothly, he said, it could be out on the market in six to 12 months.

Canada.com

Iran threatens to use oil as weapon

Iran has threatened to use “oil as a weapon” against the West if the issue of its uranium enrichment is referred to the United Nations Security Council, the only sanctioning organ of the world body. “Some European countries and America are using the Security Council as a threat. They threaten us so that we give […]

Soaring oil costs will hit UK’s growth

Sky-high oil prices will depress Britain’s growth rate to a sickly 2 per cent this year as businesses bear the brunt of soaring energy costs, according to the Ernst and Young Item Club think-tank. As Opec, the oil-producers’ cartel, prepares to meet under strong political pressure to pump more crude oil into the markets, the […]

Carmakers drive for the hybrid vehicle as petrol prices soar

CAMERON DIAZ drives one. So do Julia Roberts and Sting. But hybrid cars, which cut fuel consumption by supplementing ordinary engines with electric power, will soon be much more than fashion accessories for image-conscious stars. Soaring fuel prices, with petrol zipping past Times Online

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