Arctic ice ‘disappearing fast’

The area covered by sea ice in the Arctic has shrunk for a fourth consecutive year, according to new data released by US scientists. They say that this month sees the lowest extent of ice cover for more than a century. The Arctic climate varies naturally, but the researchers conclude that human-induced global warming is […]

Saudi Aramco expands its oil rig fleet by 100 per cent

Saudi Aramco is expanding its drilling rig fleet by 100 percent over a two-year period, going from 55 in 2004 to a planned 110 in 2006. The oil company, which is the biggest producer of crude oil in the world, announced the increase in a statement on its web site saying that it is to […]

What politicians won’t say about oil and energy

Nothing brings out Americans’ sense of entitlement more than higher gasoline prices. People are angry, demanding action from political leaders. But politicians don’t get re-elected by speaking unpleasant truths. So I’ll tell you what they won’t: You ain’t seen nothin’ yet. Markets go up and down, so oil prices may well fall in the near […]

Indonesia braces for fuel protest

Indonesia is to mobilise thousands of extra police in the capital Jakarta and other cities to guard against expected protests at fuel price increases. Petrol and kerosene prices are set to rise sharply on Saturday as the government cuts subsidies to try and tackle a budget crisis. ……Indonesia has some of the most generous fuel […]

The Oil Drum: Dueling Editors on al-Naimi

Heading Out writes (somewhat disingenuously): Pssst! Has everyone gone to bed? Can I whisper? “Maybe he’s right?” Stuart Staniford writes: Heading Out offers some support for the integrity of our beloved Mr al-Naimi here. I differ strongly. En garde, sir! Here are some of the things one has to believe in order to believe Mr […]

White House Press Briefing: Save Energy! Turn Off Those Computers!

NEW YORK – At his daily briefing at the White House today, Press Secretary Scott McClellan went a few steps further than his boss in advocating energy saving steps that government workers and, by extension, all Americans should take. Whether the public interprets this as the onset of a Jimmy Carter-like “malaise” remains to be […]

Gas prices blamed for late credit card payments

Data show late card payments at a record high because of strained budgets WASHINGTON – The percentage of credit card payments that were past due shot up to a record high in the second quarter as surging gasoline prices strained budgets and made it difficult for some people to pay their bills. The American Bankers […]

Where filling up an SUV costs $3

CARACAS, Venezuela “It’s good for us, and it’s good for the people so they can buy luxury cars with big engines,” Caicedo said. But critics say Venezuela’s highly subsidized gasoline, which retails for between 10 and 15 cents per gallon, and 7 cents for a gallon of diesel, is bad for the country. Christian Science […]

Katrina, gas prices batter U.S. consumer confidence

U.S. consumer confidence has suffered its largest single-month drop in 15 years — a powerful sign that the post-hurricane energy price spike has made Americans edgy. The U.S. Conference Board reported yesterday that its bellwether consumer confidence gauge fell 20 points in September to 86.6, the lowest reading in nearly two years. … Economist Adrienne […]

India eyes Africa’s oil

India will seek cooperation with oil-rich African countries in the hydrocarbon sector, senior official with the Indian Petroleum Ministry Talwiz Ahmad said here Tuesday. “Africa presents a huge opportunity for us as it is estimated to hold over 9 percent of the world’s reserves, most of which are still undiscovered. We want to participate more […]

Oil to dampen German consumer mood in October

German consumer sentiment is set to worsen in October as soaring oil prices boost energy costs, crimping household income and discouraging shoppers from spending, a survey showed on Wednesday. After unexpectedly rising in September, the GfK market research group’s forward-looking consumer sentiment indicator for October slipped to 3.1, a smaller decline than predicted, from a […]

Inflation a real threat as oil prices remain high: experts

Consumers in western countries have escaped sharp inflation until now despite the latest oil shock, but might have to deal with higher prices soon if the cost of crude remains at or near peak levels, economists warn. .. An estimation for the 12-nation eurozone is expected on Friday, and experts now forecast inflation of 2.3 […]

Former PM Proposes Australia as World’s Nuclear Dump

A former Australian prime minister has proposed that the country offer to store the world’s nuclear waste in its vast desert interior and use the money earned on environment and social welfare programmes. Bob Hawke, who led a centre-left Labor government from 1983 to 1991, stunned political and business leaders when he made the proposal […]

”New Energy Movement” Posts New Website

The New Energy Movement (NEM), a grassroots nonprofit organization dedicated to facilitating the advent of a global economy based on clean energy, has announced the launch of a new updated website. “Our new website is designed to be more modern, attractive, and user-friendly,” remarks Joel Garbon, Associate Director of NEM. ..Their definition of “new energy” […]

S.Korea’s energy efficiency worst among OECD members

South Korea’s energy efficiency waste is worst among OECD (Organization of Economic Cooperation and Development) countries in 2004, a local industry group said Wednesday. South Korea, the world’s 11th largest economy, used 335 barrels of oil daily for each 100 million US dollars of gross domestic product (GDP) in 2004, according to the (South) Korea […]

China ponders cost of energy-guzzling industries

China is often criticised for the amount of power it uses to generate each dollar of national income — four times as much as the United States and nearly 12 times as much as Japan, the official Xinhua agency said. Beijing has launched an efficiency drive to improve this figure, but as a developing nation […]

Africa’s role in energy market growing

Africa’s role in the global energy market was growing, but better regional co-operation was required, a forum at the World Petroleum Congress heard on Tuesday. “Africa’s economies of scale are too small. We must act regionally, but it’s a major challenge as there are still sovereignty issues,” New Partnership for Africa’s Development (Nepad) advisor Reatile […]

Go easy on the Gas Bush tells US

President George Bush is calling on Americans to conserve petrol by doing less driving, in the wake of the two hurricanes which have curtailed oil production and supply along the Gulf coast. He also issued a directive for federal agencies to reduce energy consumption, urging employees to share cars or use public transport. The Guardian

It’s cold turkey time

The media coverage would have you believe that motoring and road haulage costs are extortionately high and that the consequences are just too awful to contemplate. But I don’t believe it for one minute. We are a generation who have become mobility junkies, with our habit fed by cheap fuel. Weaning us off our wasteful […]

EU outlines plans for aviation to cut greenhouse gases

Europe’s airlines will have at least four years to implement a new EU-wide emissions trading system under plans presented in Brussels yesterday to curb the rise in greenhouse gases. The European Commission believes that the system is more cost-efficient and effective than levying new taxes on airline tickets. The Times

The Wake-Up Call: Storms emphasize faults in energy bill

The new bills (one from the House Resources Committee, the other from the House Energy and Commerce Committee) are slightly different but have the same aim TheMonitor

Crude production sags as Putin touts reserves

According to BP’s annual statistics review published in June, Russia is No. 6 in terms of world oil reserves with 72 billion barrels and is No. 1 in terms of natural gas reserves with 1,700 trillion cubic feet. HoustonChronicle

Govt unfolds plan for N8.9 trillion oil, gas projects

NIGERIA yesterday at the ongoing 18th World Petroleum Congress (WPC) unfolded plans to spend over $67.1billion, about N8.911trillion on project development in the oil and gas sector between now and 2008. Guardian

Saudi, Exxon Mobil officials say world has plenty of oil

Saudi Arabia’s oil minister and the president of Exxon Mobil Corp. said world petroleum reserves will last for decades, seeking to ease concern about supplies and high prices. HoustonChronicle

Natural Disasters: Top 10 U.S. Threats

While war and automobiles kill more people than nature, find out what natural disasters top scientistsLiveScience

Fresh Fears of $100 a Barrel Oil

British Chancellor Gordon Browns economic growth forecasts stand no chance of being met because of surging oil prices, a leading forecaster will warn on Monday. In a report that will fuel widespread fears in the City of a further spike in the price of oil, the Ernst & Young Item Club will warn of dire […]

Congress Asked to Provide More Funds for Renewable Energy

Thirty-one business, consumer, environmental, and energy policy organizations called today for higher funding levels in Fiscal Year 2006 for the U.S. Department of Energy’s renewable energy and energy efficiency programs. OrganicConsumers

Energy Future Coalition Official Outlines Strategy

“Ethanol is not only an excellent fuel for today’s automobiles,” says Detchon, “unlike hydrogen or natural gas, it is largely compatible with the existing transportation infrastructure.  Combine flexible fuel technology with a hybrid vehicle like the Toyota Prius, and it will go 250 miles on an E-85 blend and use just one gallon of gasoline.”PRNewsWire

New Jersey Sues Three Oil Companies

The lawsuits accuse Hess, Motiva Shell and Sunoco with artificially inflating gas prices and for increasing prices more than the once-a-day legal limit. ABCNews

N-economy must begin now

Fluid fuels needed for the second half of the 21st century can be supplied by a hydrogen economy, but only if nuclear energy is the primary energy source to produce hydrogen. Gary M. Sandquistprofessormechanical engineering departmentUniversity of UtahDeseretnews

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