Oil bubble set to burst?

NEW YORK (CNN/Money) – Could the recent spike in oil prices have created a bubble that’s about to burst? With Hurricane Rita causing less damage that originally feared to the oil industry and oil prices treading water Monday, some industry analysts said we may be about to watch a steady, and significant, drop in energy […]

Oil, gas companies go overseas to buy equipment that’s often cheaper, safer

Twenty-five years ago, there were 4,000 rigs drilling oil and gas wells throughout the country. That number has shrunk to 1,400. Most of the rigs date to the 1980s and are expensive to operate, and if a company wants to use one, there’s an 18-month wait to get one in the U.S. This forces companies […]

The Oil Drum: The Community Solutions Conference I

I’m currently at the 2nd annual Peak Oil and Community Solutions Conference. I think I’m going to try and break my report up into three pieces, one per day of the conference to keep it manageable. These are getting posted after the conference is over, but each day’s report was written right after the conference […]

Economists see oil prices crimping growth

CHICAGO – Soaring crude oil costs, driven to new record highs by Hurricane Katrina, will take a bite out of U.S. economic growth this year and next, even if prices moderate in coming months as expected, according to a survey of business economists. The economists on average predict crude will decline to $55 a barrel […]

Sibneft transfer deal puts Gazprom top of the table

Abramovich’s The Guardian

how I learned to love soaring energy prices

It is an inviolable rule of nature that, when in a pinch, the Canadian public will always advocate the worst possible economic policy at the worst possible moment. The loonie is plunging and near record lows — people want the U.S. dollar. The U.S. is charging tariffs on our softwood lumber and won’t abide by […]

‘Korea should invest in oil company stocks as hedge’

Korea should think seriously about investing in global oil company stocks as a hedge against soaring oil prices, said David (Young-hoon) Kim, the World Energy Council’s regional vice chairman for South Asia and Asia-Pacific, who projects global crude prices will hit $100 a barrel soon.. .. Asia’s fourth-largest economy ranks within the world’s top 10 […]

Food Security Worries Could Limit China Biofuels

Worries about feeding the world’s most populous nation could limit the growth of China’s environmentally-friendly biofuels industry, officials and executives said on Friday. Biofuels made from agricultural products ranging from sugarcane and wheat to waste oil from cooking, are becoming increasingly attractive as crude prices climb. Planet Ark

World Petroleum Congress opens

South African President Thabo Mbeki Sunday night joined some 4,000 oil giant executives and senior government officials at the World Petroleum Congress which opened in Africa for the first time in its 72 years history. Addressing delegates from 62 member countries, President Mbeki called for the stabilization of world oil market, noting that the poor […]

G7: oil poses risk to global growth

Finance chiefs from the world’s wealthiest nations warned that higher oil prices and growing imbalances have increased risks to the global economy but said the outlook for further expansion was good. CNNMoney

Team hopes to harness waste energy

It seems a paradox that dirty exhaust gases could help to make vehicles cleaner but the notion might soon be true thanks to a team of Yorkshire boffins. Members of the University of Sheffield’s Electrical Machines and Drives Group and expert engineers from Harrogate-based Switched Reluctance Drives have helped to develop a way of recovering […]

Big auto makers want Bush to act on energy

Ford Motor Co. (F.N: Quote, Profile, Research), Toyota Motor Corp. (7203.T: Quote, Profile, Research) and other auto makers say they want the Bush administration to take more aggressive action to cut U.S. dependence on petroleum, the Wall Street Journal reported on Monday. Reuters

No US pressure, energy ties with Iran intact: India

India, which has voted for the IAEA resolution accusing Iran of breach of its nuclear non-proliferation treaty (NPT) obligations, has asserted that its decision was not taken under American pressure and will have no impact on the planned tri-nation pipeline that also involves Pakistan, Indo-Asian News Service reported on Sunday. “India has played a constructive […]

The growing cost of growing wheat

Between rocketing costs for fuel and fertilizer, low prices for their crop, increased shipping surcharges and worries over whether this will be another dry winter, local wheat farmers say the future is looking pretty grim these days. “I’m not sure anyone is aware of it, but energy prices are quickly making the continuation of wheat […]

High prices not only at the pump

High gas prices can burn up more than your transportation budget, and it doesn’t take an economics degree to understand why. Not all crude oil is converted into gasoline. Much of the oil that doesn’t wind up in engines goes to everything from the tires on your gas-eating car to the plastic bags that line […]

Oil and Gas Technologies for the Energy Markets of the Future

There is no shortage of oil and gas in the ground, but quenching the worldIEA

GO-AHEAD FOR GAS DEVELOPMENT

The Norwegian Government has given the go-ahead for Norsk Hydro’s Oseberg Delta development, which has estimated recoverable gas of around 8billion cubic metres. NorthScotland

Many Firms See Global Warming Affecting Their Business

Most major companies see global warming as presenting “commercial risks or opportunities” to their business, but many of them are failing to curb their emission of greenhouse gases, a Britain-based group’s survey indicated Sunday. CDP, which consists of 155 institutional investors and banks around the world, said only 45 percent of the respondents have established […]

Russia to raise oil output by 3 % before the end of 2005

Russia is to increase oil production by 3 percent, i.e., by 30 billion metric tons, before the end of this year, Russian Finance Minister Alexei Kudrin told a news conference in Washington on Saturday. Russia is currently producing 9.33 million barrels a day. RIAN

China to Spend $17 Billion on Six New Hydro Plants

The six single-generator plants would each have capacity of less than 600 megawatts and would be located on the river’s upper reaches in the southwestern province of Sichuan, the newspaper quoted an official with State Development & Investment Corp. as saying. PlanetArk

Montana coal can help fuel America’s future

By BRIAN SCHWEITZER Montana Governor I have a passion for energy. I especially like energy sources such as ethanol, wind power, biodiesel and others that are clean, affordable and can be made in America. So when earlier this year a top Pentagon official told me of the military’s interest in using clean-burning diesel fuel made […]

How to Clean Coal

We now stand at a watershed moment. An entire generation of obsolete coal-fired power plants built in the 1950s and 1960s needs to be replaced, and U.S. utility companies have announced their intention of building more than 100 new coal plants over the next 10 to 15 years. Unless something happens soon to tilt the balance toward more environmentally benign alternatives, nearly all of those power plants will use the old-fashioned, intrinsically dirty technology known as pulverized coal.

OnEarth Magazine

Before the oil runs out: The search for alternatives

Even as conventional oil supplies begin to play out in the U.S., the North Sea, and some other major production areas like Venezuela, the Journal says that the most “realistic” replacements would be other “hydrocarbon resources [such as] oil shale, tar sand, extra heavy oil, and possibly coal liquids.”

Only hydrocarbon sources like tar sands and coal liquids are in great enough supply to supplement regular oil

USA Today

Microgrids as peer-to-peer energy

Small networks of power generators in “microgrids” could transform the electricity network in the way that the net changed distributed communication. That is one of the conclusions of a Southampton University project scoping out the feasibility of microgrids for power generation and distribution. Microgrids are small community networks that supply electricity and heat. They could […]

Higher gas prices may be legacy of Rita

HOUSTON – The millions of Texans who fled Houston and other Gulf Coast cities to avoid Hurricane Rita are likely to pay higher prices for gasoline “We’re going higher in terms of retail prices,” at least in the short term, because of tight supplies, said analyst Tom Kloza of Oil Price Information Service in Wall, […]

Why Kyoto will never succeed, by Blair

Tony Blair has admitted that the fight to prevent global warming by ordering countries to cut greenhouse gases will never be won. The Prime Minister said “no country is going to cut its growth or consumption” despite environmental fears. Mr Blair’s comments, which he said were “brutally honest”, mark a big environmental U-turn and will […]

As oil soars, a rethink on nuclear power

As oil prices soar, so will demands for atomic energy. Iran knows this and Americans should, too. Why it’s time to rethink the global approach to nuclear proliferation. …Ah, but why does Iran, with all its oil, need nuclear power at all? The answer is straightforward: oil and gas are just too valuable to continue […]

Man’s creation could make solar power more accessible

Costner and his partner, Eric Hochberg, an optics expert with the Jet Propulsion Laboratory in California, decided to use an aluminum mylar to reflect the sun’s rays.  The material is not only light but cheap, Costner said. He said the cost of a solar flat panel system that can produce 450 watts of peak output […]

The Hydrogen Economy

The use of hydrogen in the production of transport fuels from crude oil is increasing rapidly. Hydrogen itself is likely to be an important future fuel. Nuclear energy can be used to make hydrogen electrolytically, and in the future high-temperature reactors are likely to be used. The energy demand for hydrogen production could exceed that […]

Malaysia needs to develop nuclear energy: MINT official

Malaysia needs to develop nuclear energy as the current fossil fuel reserves are estimated to last for 18 years, an official of Malaysian Institute for Nuclear Technology Research (MINT) said on Saturday. It will take nearly 15 years before a nuclear plant with the power generating capacity of 1,000 MW can start operation in Malaysia, […]

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