Shortly after Hurricane Katrina roared through South Mississippi knocking out electricity and communication systems, the White House ordered power restored to a pipeline that sends fuel to the Northeast. That order – to restart two power substations in Collins that serve Colonial Pipeline Co. – delayed efforts by at least 24 hours to restore power […]
Some states could see prices jump by 15%, while others might see their utilities go bust. NEW YORK (CNN/Money) – Along with soaring oil and gasoline costs, consumers may be hit with yet another hike in their energy bill in the near future, the price of electricity, a report said Friday. Due largely to the […]
Workers displaced by Katrina housed in tent cities, cots at work HOUSTON – As the U.S. oil and gas industry continues to assess damage and restore massive outages of Gulf coast production and refining capacity, much attention has been paid to assessing the physical damage. But the oil patch is wrestling with another critical problem: […]
Largest is nearly 4 million gallons, most big ones are on Mississippi River More than 500 specialists are working to clean up 44 oil spills ranging from several hundred gallons to nearly 4 million gallons, the U.S. Coast Guard said in an assessment that goes far beyond initial reports of just two significant spills. The […]
Official says storm damaged 46 ‘mostly low producing’ platforms, 20 others WASHINGTON – Unlike last yearSince oil companies started evacuating platforms a few days before Katrina hit the Gulf, 21.38 million barrels of crude have been shut in. Burton said Katrina, which blasted through the Gulf of Mexico before hitting Louisiana on Aug. 29, destroyed […]
I want to add some balance to some of the supply-side conversations we have had here at TOD. I think Stuart has done some great analyses of potential depletion curves, physics and predictions of future supply. If we can sharpen up these analyses and get people to start taking a harder look at these numbers, […]
Prophets have been warning Americans of the terrible things in store for decades, but Kunstler joins a fresh corps whose numbers seem to have been increasing as quickly as the price of gas. The past two years have seen books with titles like Paul Roberts’s The End of Oil, Richard Heinberg’s The Party’s Over, Tom […]
Foreign Policy: What makes you think some fields are in for a production collapse? Matthew Simmons: The faster you extract oil from a reservoir, the faster you dissipate the reservoir pressure. Once you get below a certain level of pressure, you have to get oil out using an artificial lift or water injection, and some […]
Oil consuming countries meet later on Thursday to take stock of world oil supplies two weeks after Hurricane Katrina pushed prices to new peaks, while France warned that prices may stay high for decades. The International Energy Agency, which groups 26 industrialised nations, will review the situation six days after ordering the release of emergency […]
Experts warn of worn-out gaskets, long-term damage to vehicle engines With gasoline prices ticking higher all this year and the impact of Hurricane Katrina driving them ever higher, a growing number of Americans are turning to alternative fuels to power their vehicles. But experts warn that simply filling up with these unconventional fuels could end […]
Congress may need to boost funding for a $230 million program that helps poor American families make their homes more energy efficient because of Hurricane Katrina’s impact on energy prices, the chairman of the Senate Energy Committee said Tuesday. Sen. Pete Domenici, a New Mexico Republican, said he asked Energy Secretary Sam Bodman to estimate […]
Around the world, offshore oil and gas platforms are generally built to survive without serious damage a so-called 100-year storm – a hurricane so powerful that it typically occurs only once every hundred years. Hurricane Ivan roared through the Gulf of Mexico a year ago, generating the highest waves ever recorded there in a storm […]
SAN FRANCISCO None of that included the $50,000 they would have spent if they had opted to buy a parking space with the condominium they purchased last spring in the city’s Chinatown neighborhood. “We just said, ‘We don’t want to do it anymore,’ ” Walton says. They sold their cars and switched to hourly car-rental […]
Spike in jet fuel sparks filings, putting almost half of U.S. airline capacity in Chapter 11. NEW YORK (CNN/Money) – The airline industry’s five-year financial crisis came to a head Wednesday evening as Delta Air Lines and Northwest Airlines, two of the nation’s largest carriers, both filed for bankruptcy.Delta, the nation’s No. 3 airline, filed […]
German says alternative diesel uses waste paper products, possibly a toad BERLIN – A German inventor said he has developed a method to produce crude oil products from waste that he believes can be an answer to the soaring costs of fuel, but denied a German newspaper story implying he also used dead cats. Christian […]
Firms shun OPEC offer for crude and buy 1/3 of available SPR stocks, underscoring refining problem. LONDON (Reuters) – Oil prices extended gains above $65 a barrel Thursday, stoked by fears that the world’s biggest consumer — the United States — would shiver through the winter after a drop in fuel stockpiles. U.S. light crude […]
Russia has oil. And an authoritarian leader with occasional strong-arm tendencies. But if Russian President Vladimir Putin has his way this week, relations with the West will be just peachy. With its businesses, at any rate. Forbes
The Cooperative Research Centre for Greenhouse Accounting has launched a redeveloped web site with up-to-date news on climate change, details of the CentreENN
A Commons committee has raised doubts about the government’s plans to promote renewable energy. In a report published on Thursday, the public accounts committee warned that plans to have 10 per cent of Britain’s electricity generated from renewable sources by 2010 would “come at a price”.ePolitix
The Energy Department announced the sale Wednesday of 11 million barrels of crude oil from its government reserve, about a third of what had been offered to the industry as part of the Hurricane Katrina recovery effort.ClarionLedger
For the first time ever, the Swedish government is to release supplies of petrol from its own reserves. The decision, expected on Thursday, is a direct consequence of Hurricane Katrina, which hit the southern USA almost three weeks ago.The Local
Despite the recent announcement of the global auto giants to jointly develop hybrid drive systems, Hyundai Motor Co. said yesterday that it will continue on its own, aiming to reach an annual production of 300,000 hybrid cars by 2010. ..Hyundai aims to catch up with global hybrid leaders such as Toyota Motor Corp. in two […]
Several MEPs called on 12 September for a fundamental shift away from the oil era into the green hydrogen economy. But is their initiative based on science or inspired by political hype? EurActiv
European Central Bank (ECB) chief Jean-Claude Trichet warned on Wednesday (14 September) that oil prices are likely to stay high for several months, but hurricane Katrina is not to blame. “Oil prices have continued to rise, increasing considerably since the beginning of the year, and developments in futures prices suggest that market participants expect the […]
Municipal and emergency services in Zimbabwe’s capital have been crippled by a fuel shortage, with only one fire engine in operation. Testifying before a parliamentary committee on Wednesday, Harare’s town clerk Nomutsa Chideya said the city council was now buying fuel from the black market, but was still unable to provide proper emergency services or […]
Work on the world’s largest solar energy station, which will produce enough electricity to power 21,000 homes, is to start near the southern Portuguese town of Moura next year. The 62-megawatt plant, which will use 350,000 solar panels spread over an area the size of 150 football pitches, represents a leap forward for solar energy […]
Mexican President Vicente Fox’s proposal to reform the constitution and the hydrocarbons law to allow private investment in the energy sector should not be considered a step towards privatizing state oil firm Pemex, energy secretary Fernando Elizondo told reporters at a press conference on Tuesday. ..Fox also published on Monday a decree to subsidize prices […]
The leading European nations have paid about 10 per cent more than the US for the oil they consumed during the first half of the year as less sophisticated refineries force Europe to import premium high quality oil. Germany, France and the UK paid $47.40 a barrel on average for the oil they consumed between […]
As if the lack of response to Katrina’s devastating wrath and the jumbled conflict in Iraq aren’t enough, Republicans are ready to add insult to injury. Environmentalists get ready; you’re going to have to defend the Gulf of Mexico coastline from drilling. The real message is clear. Hurricane Katrina is the scapegoat that oil drilling […]
Indonesian state oil firm Pertamina and US oil giant Exxon Mobil Corp plan to sign a long-awaited deal on developing the Cepu oil block this week, the government said today. The government had said it wanted to seal the $2-billion deal by September 25, closing a four-year saga that has clouded the future of the […]
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