Germany’s Fischer tells oil companies to cut prices

German Foreign Minister Joschka Fischer called on international oil companies on Friday to cut their petrol prices, even though his Greens party has long advocated higher energy prices to promote conservation. Speaking at a campaign rally in Berlin two weeks before a general election, Fischer said he suspected oil companies were using the recent global […]

Mounting energy crisis could stall electronics industry

The Semiconductor Industry Association (SIA) reported that chip sales rose 1.9 percent in July, and electronics suppliers such as Fairchild Semiconductor have noted that orders for semiconductors used in consumer electronics and computers have improved in recent weeks. But an SIA warning earlier this week that rising oil prices could put a year-end damper on […]

US to support Mozambique’s energy project

The United States is to grant 600,000 US dollars to Mozambique to develop hydropower, according to an agreement on Friday. Under the agreement, the American government has granted 600,000 US dollars to support the Mozambican Electricity company (EDM) in a feasibility study to build two hydroelectric dams on the Lurio river, in the northern region […]

India needs energy, and the US

As a rapidly developing country, India’s energy needs are likely to balloon over the coming decades. How and in what areas these needs materialise will depend on five major factors. …Unless India obtains or develops alternative sources of energy, in 15 years it will have to import close to 90 per cent of its petroleum […]

Steve Forbes Duplicity Exposed

Steve Forbes tells the world $35 a litre oil for public consumption. His company tells investors that peak oil is on the way and that the oil price will be much higher. Groundwork done by Australian Greens Senator. For Press release follow the link Senator Kerry Kettle

Powering a new generation of cars

Toyota, General Motors and virtually every other major automobile manufacturer are tinkering with a technology called Homogeneous Charge Compression Ignition (HCCI), which could boost fuel economy in cars by about 20 percent and generate fewer polluting hydrocarbons. Research projects are also under way at national labs and universities. News.com

Pioneering effort aims to tackle global warming

In the north of Scotland, preparations are under way for a power station that will test the limits of science in attempting to tackle global warming. The plant, planned by BP and Scottish and Southern Energy, the UK energy companies, would convert natural gas into carbon dioxide and hydrogen. Electricity can be generated from the […]

UK, China in cleaner power plan

Britain and the EU will next week announce plans to hand China the technology for a power station designed to combat climate change. The coal plant will capture its own emissions of the greenhouse gas carbon dioxide (CO2) and bury them in porous rock measures underground. BBC

The Oil Drum: Getting Oil from Europe Will Take A Long Time

…and it’s time we don’t have. The European supplies will likely take around two weeks to be arranged, and then be delivered, since tankers must first be hired, and they, in turn have to make it to the European sources, and then make the trip itself, before the fuel can be used. As the just […]

Retreating Glaciers and Melting Permafrost Threaten Traditional Lifestyles

Watching the gargantuan chunks of ice break off the Sermeq Kujalleq glacier and thunder into an Arctic fjord is a spectacular sight. To Greenland’s Inuit population, it is also deeply worrisome.”In the past we could walk on the ice in the fjord between the icebergs for a six-month period during the winter, drill holes and […]

Canada Oil Sands Output May Increase Sixfold by 2030

Canada, the largest supplier of crude oil to the U.S., may increase output from Alberta’s oil sands sixfold in the next 25 years as record oil prices spur investment in the province, a government energy adviser said. Alberta may increase output from the oil sands to 6 million barrels a day in 2030 from about […]

US Oil Industry Inches Back from Katrina’s Devastation

At the moment, the U.S. has lost production of about 42 million gallons of gasoline a day, equal to 10 percent of its normal consumption, the Energy Information Administration said on Friday. Given the severity of the damage, Valero Energy Corp. Chief Executive Bill Greehey warned that the country could soon face supply shortages. “Is […]

IEA Head Says US Gasoline Crisis Could Spread Worldwide

The head of the International Energy Agency warned Friday that a severe gasoline (petrol) shortage in the United States, if it should occur in the aftermath of Hurricane Katrina, would likely spread rapidly worldwide. The oil market even in normal times “is … very fluid across the Atlantic and when there is a crisis in […]

U.S., Europe set to release oil reserves

U.S. expects to receive 2 million barrels per day from stockpiles WASHINGTON – The Bush administration, in conjunction with other oil consuming nations, expects to release 2 million barrels a day of crude oil and refined gasoline from U.S. and international emergency government reserves to counter supply disruptions caused by Hurricane Katrina, administration officials said […]

Thousands complain to feds on gas gouging

Lawmakers demand an investigation WASHINGTON – Lawmakers are demanding an investigation into gasoline prices after thousands of motorists called a government hotline to complain of price gouging. The Energy Department reported more than 5,000 calls to its price gouging hotline Thursday from around the country, although officials emphasized there was no way to immediately determine […]

UCF, Georgia Researchers Project Hurricane Effects On Oil, Gas Production

About 86 percent of oil production in the Gulf of Mexico and 59 percent of the natural gas output are being disrupted by Hurricane Katrina, according to a new prediction model developed by a University of Central Florida researcher and his Georgia colleague. On their Web site, http:/​/​hurricane.methaz.org, UCF statistics professor Mark Johnson and Chuck […]

In deep denial

The Bush administration’s new rules for fuel-economy standards display the sort of evasion of long-term energy reality that is seen in the public at large — which, we suppose, is the reason for the insignificance of the program. Wouldn’t want to inconvenience anyone! But then, most politicians complain about high gasoline prices yet assiduously avoid […]

Steve Forbes Sees $35 Oil

You’re simply not going to believe this. Publishing magnate Steve Forbes says that he expects oil prices to dip as low as $35 within a year. Has the publishing guru gone mad? Has Mr. Forbes taken some horrible hallucinogenic drug, akin to adrenochrome from Fear and Loathing in Las Vegas?Forbes, editor-in-chief of the influential Forbes […]

The Oil Drum: Talking Pipelines and the Cost of Gas

Heading Out writes: For the last two days I have been on a trip, and talked with people about, among other things, energy. Away from the South there seems still to be some disconnect from the reality of Hurricane Katrina. Despite the increasing amounts of ink that the MSM are starting to devote to this […]

U.S. drivers won’t cut back on gas

Even at $3 a gallon, Americans unlikely to seriously cut down on gasoline consumption. NEW YORK (Reuters) – U.S. drivers may take baby steps to reduce the amount of gasoline they burn, but long commutes and inefficient vehicles mean consumers could be locked into high fuel demand despite rocketing prices, experts said. Gasoline prices hit […]

Storm damaged many offshore rigs, platforms

Analyst says it is still too early to gauge total impact of Katrina Hurricane Katrina damaged or displaced an estimated 58 Gulf of Mexico oil platforms and drilling rigs, according to the American Petroleum Institute. Among those, 30 rigs and platforms have been reported lost. No company breakdown was available, said Tim Sampson, an API […]

How pricey oil screws us

Plastics, the cheap durable products found in the various goods we buy and consume, are made from oil. As oil increases in price, so goes the cheap plastic products we once relied upon. Not only will it cost more to create those plastic goods, but transporting them to stores, and heating said stores, also leaps […]

Bio-Based Corn Plant to Produce Polymers, Plastics and More

Tennessee plant under construction, will produce polymers for plastics, clothing and carpeting from corn, to create 50 new manufacturing jobs. A new $100 million plant under construction here will create 50 new manufacturing jobs and help create a bio-based economy that will help reduce U.S. reliance on foreign oil by using renewable resources to make […]

Gas shock echoes across USA

In all sorts of ways, in every corner of the USA, the incredible run-up in gas prices is tearing into everyday life. Since Hurricane Katrina struck the Gulf Coast, gas prices in much of the country have soared past $3 a gallon. Six gas stations in Atlanta hit $3.999 Thursday. A few regions saw shortages […]

Petrol to hit

Motorists were warned last night that petrol prices seem certain to pass Guardian

The US must find extra oil refining capacity . . . fast

COULD this spell the end for the Hummer, the gas-guzzling off-road hog? ItAmerica is in a frantic search for supplies of gasoline (petrol) after the great storm. One million extra barrels must be imported every day to keep the economic wheels spinning and the cost will be borne, not just by Americans, but Europeans and […]

Motorists urged to drive less as gas supplies drop

Some independent gasoline stations started to run short of fuel Wednesday, lines formed in some places, and prices continued to rise. AAA urged motorists to drive less and conserve fuel. With two major pipelines and up to eight refineries shut down, gasoline was getting tougher to find at some stations, particularly in the Midwest and […]

White House: Gas costs to rise further

WASHINGTON (Reuters) – White House economic adviser Ben Bernanke said on Thursday U.S. gasoline prices will likely rise further because of system disruptions following Hurricane Katrina, but will drop when supply lines return to normal. ” “I think the good news is that this is not likely to be a permanent situation as these refineries […]

India’s OIL to bid for more exploration blocks in Libya

Set to surpass its production target for 2005-06, India’s state-owned Oil India Ltd (OIL) will bid for more exploration blocks in Libya, where it already holds stakes in one block with Indian Oil Corporation. “We are preparing to jointly bid in October with Indian Oil for the next round of exploration blocks being offered by […]

Big push for small car, thanks to oil

With crude flaring up to record highs, India’s finance minister P. Chidambaram today hinted the government will drive down taxes on smaller, fuel-efficient cars while raising them on older oil-thirsty vehicles. “We will revisit the question of taxation on small cars at the earliest opportunity,” Chidambaram told CEOs of automobile firms at the annual convention […]

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