Bankrupt!

US airlines have lost more than $30bn over the past four years. Edward Simpkins investigates why two more have just declared themselves bust The misery began for the airline industry with the economic slowdown that followed the collapse of the dotcom boom five years ago. Then came the terrorist attacks of 9/11, the war in […]

The end of the Oil Age is in sight, but who is looking?

Early this spring, in an oleaginously expensive West End restaurant, a Texan oilman who is close to George Bush set out to sell me a line. The company and the setting were unfamiliar enough – the pitch, from such a source, even more so. The Oil Age, that has so dominated our lives, shaped our […]

Alternative Fuels: Don

With petrol now more expensive per litre than Evian mineral water in many service stations, motorists are looking for instant fixes to their rising fuel bills. However, even the most ambitious manufacturers doubt they will have hydrogen cars in the showrooms before 2007 and there is nowhere to fill them up. The fuel cell is […]

Axeon Reaps Benefit of High Oil Price

Axeon Holdings, the semiconductor intellectual property firm, yesterday said that skyrocketing oil prices had “accelerated the acceptance” of its technology among more than half of the world’s major carmanufacturers. The Aberdeen-based company targets the automotive and industrial markets with its specialist technology and Vindax products, such as computerised engine controls which improve fuel consumption and […]

Pakistan considers hedging oil import bill

Pakistan is considering hedging a sizable chunk of its oil bill after it rose 20 percent to $3.8 billion in the 2004/05 fiscal year due to a surge in global oil prices, a senior official said on Friday. One of Asia’s fastest growing economies, with growth of 8.4 percent in the fiscal year ended June […]

Iran prefers Persian Gulf gas to Caspian oil

Iran lacks the know-how to pump crude from the deep waters of the Caspian Sea and views it as a low priority when the world?s largest reservoir of gas sits invitingly under the shallow Persian Gulf, according to Reuters. Tehran had hoped to get Caspian output flowing last year but commercial and political disincentives to […]

New Poster Illustrates History, Impending Peak of World Oil Production

SF Informatics, in association with Global Public Media, today announced the release of an authoritative new poster entitled “The Oil Age: World Oil Production 1859-2050.” Packed with detailed charts and historical annotations, the poster traces the history of the Oil Age from its 19th century roots to its rise as the engine powering modern industrial […]

Go ahead, make Putin’s day. Drive a giant SUV

Want to make a former KGB colonel’s day? Simple. Climb into your SUV and cruise your city. Turn up your home or store air conditioner on a warmish day. Or choose another way to waste energy. You will bring a smile to Vladimir Putin’s face and a bulge to Russia’s national wallet. Not directly, of […]

Iran’s petrol import to hit $20b in 4 years

A senior parliamentarian said that the government will have to import $20 bln worth of gasoline over the next four years to meet ever-increasing demand, stressing that the lawmakers have rejected the proposal to ration fuel. Kamal Daneshyar, who heads the Majlis Energy Commission, told Mehr news agency that gasoline distribution mechanism will not change […]

Qatar warns against production increases

Qatar’s Oil Minister Abdullah bin Hamad al-Attiyah warned Sunday that OPEC shouldn’t raise production just for “increase’s sake,” saying there were indications that oil prices were decreasing because of low demand. Ministers from the Organization of Petroleum Exporting Countries meet Monday in Vienna to discuss ways of stabilizing the market after Hurricane Katrina drove prices […]

Tide Could Be Turning On Gulf Drilling

Now, as oil rig engineers consider tougher, storm-proof design standards, energy executives and lobbyists in Washington are poised to seize a window of opportunity that has eluded them for at least a decade: a chance to expand into waters now off-limits, especially key areas of the eastern Gulf of Mexico, near Florida. Not only have […]

Summit failure blamed on US

The failure of last week’s United Nations summit to deliver an agreement designed to prevent terrorists acquiring ‘weapons of mass destruction’ was sabotaged by the US, senior diplomats have told The Observer. He added: ‘More countries are bumping against the nuclear weapons ceiling. And at the same time we have a world energy crisis where […]

Clinton: Why high oil prices are good thing

Ms Rice warned during the panel discussion that as countries like China and others in Asia face pressures to continue to grow their economies at breakneck speed, it would be impossible for Europe and America to demand that they ration their fuel consumption. And she suggested that nuclear power would inevitably grow much more important, […]

Utilities expected to boost renewable energy sources

Current state plans would require Arizona utilities to increase their solar and other environmentally friendly energy base from a current 1.1 percent goal to 5 percent of their total production by 2015 and 15 percent by 2025. Heather Murphy, spokeswoman for the Arizona Corporation Commission, which regulates utilities and sets energy policy, said the surcharge […]

Indonesia, Exxon Mobil conclude deal to tap lucrative oil field

Indonesia and U.S. petroleum giant Exxon Mobil Corp. signed a revenue- and production-sharing agreement that will allow the U.S. firm to tap East Java province’s massive Cepu oil field and meet Indonesia’s growing domestic demand for oil.  theStar

Questions and Answers on Fuel Economy

The original schedule for CAFE improvements ended in 1985, leaving Congress and the administration responsible for future improvements – none of which have been pursued, leading to the current drop in fuel economy of the national vehicle fleet. Overall, a 40 mpg fleet means American consumers could see annual gasoline savings of $50 billion in […]

Saudi Arabia, UAE Open to OPEC Decision

The oil ministers of Saudi Arabia and the United Arab Emirates said Saturday they were receptive to an OPEC decision to increase its output quota in an attempt to control soaring oil prices. Naimi said that Saudi Arabia has not seen increased demand for crude. Asked why OPEC was considering a quota hike now, Naimi […]

First Annual Clinton Global Initiative Concludes With $1.25 Billion in Commitmen

From the beginning, I emphasized that this conference cannot alone solve the problems we have discussed, but today one thing is more clear than ever — all of us want a better world. Basic Energy committed to build two wind energy power plants totaling 109 megawatts in the Dominican Republic worth over $130 millionPRNewsWire

Unst, the pioneer of pure energy

Pure produces hydrogen from the wind power generated by two 15- kilowatt turbines. The result is a fuel that can be burned for heating and transportation or stored for conversion back into electricity. The project has the only hydrogen fuel cell car in Scotland and is developing a second hydrogen-powered vehicle. The Pure project is […]

Economists’ No. 1 fear: energy prices

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 […]

Fresh Fears of $100 a Barrel Oil

British Chancellor Gordon BrownThe Business Online

OPEC Long-Term Report To Fend Off Group’s Critics

OPEC is preparing a long-term strategy document for release early next week that is intended to fend off mounting criticism of the group, sources close to the group’s policy said Saturday. Governors and other officials from the Organization of Petroleum Exporting Countries have been locked in a meeting Saturday to draft the group’s oil- production […]

Focus: Oil

Someday someone – perhaps a composer is already at work on it – will write a great operatic cycle on the rise and fall of oil. In Wagner’s Ring it was gold that was taken from the Rhinemaidens, to the curse of all who possessed it until the commodity could be returned to the river […]

The great American airlines disaster

A total of 140 carriers have sought Chapter 11 bankruptcy in the US since 1978. Today, four of the Big Seven are still under the protection of the courts. ..In less than two years the airline industry’s total fuel bill has more than doubled from $44bn (E36bn, .. the woes of America’s airlines could easily […]

Plan for higher energy bills: Duncan

Ontario homeowners and businesses will see higher home heating and electricity bills next year and shouldn’t expect any rebates, the province’s energy minister said Friday. A hot summer that had air conditioners working almost non-stop in many households and businesses sent the cost of electricity soaring and that increase will likely be felt next year […]

Another California energy crisis looms, draft report warns

Four years after electricity prices soared and blackouts rolled across California, the state is in danger of another energy crisis – this one involving gasoline and natural gas as well, said a draft report Friday. The state is a captive of its own geographic and regulatory isolation, separated by miles and mountains from many refineries […]

Chavez Sees ‘True Crisis’ Over Oil Reserves

Dame mas gasolina, Venezuelan President Hugo Chavez may find himself humming. The sentiment of Daddy Yankee’s high-octane reggaeton hit–which has been pumping out of every car stereo on the globe this summer–has uncannily caught the zeitgeist right by the tail. Chavez, Washington’s bugbear in South America, has told a U.N. summit OPEC members are in […]

Oil/gas supply line being built along ancient Silk Road in NW. China

China is building an energy supply artery along the ancient Silk Road in a bid to transport oil and gas from northwest China’s Xinjiang Uygur Autonomous Region and from the adjacent central Asian nations to the eastern and central parts of China. There are bonanzas of oil and gas resources in nations along the ancient […]

Nigerian militants threaten British oil after politician’s arrest

London fraud police have arrested a Nigerian state governor, officials said, triggering a threat by militants to attack British citizens and oil facilities in the restive Niger Delta. Governor Diepreye Alamieyeseigha of the oil-rich southern Nigerian state of Bayelsa was arrested yesterday in London. He was later released on bail pending further enquiries, investigators said. […]

Will Our Next Oil Crisis Be With China?

Although the American public is focused on the devastation in New Orleans and Mississippi, China stock expert Jim Trippon says, “AmericaPRWeeb

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