Energy pricing firms out of Britain

Britain’s soaring energy costs will drive intensive manufacturing to other countries that have cheaper power bills and lower fuel costs, the chairman of British Polythene Industries has warned. Cameron McLatchie revealed that Greenock-headquartered BPI, the largest producer of polythene film, sacks and bags in Europe, has chosen to make a ..McLatchie said BPI’s group energy […]

France’s Breton Urges Nuclear Energy Investment as Oil Rises

French Finance Minister Thierry Breton urged the U.S. and other leading oil-consuming nations to invest in nuclear and other alternative energies, and criticized countries that subsidize oil consumption or don’t tax it enough. “We must reduce oil subsidies where they exist, encourage through taxation a development model which is more respectful of fossil resources,” Breton […]

Biofuel demand: global palm, soy oil prices seen firming

Global prices of palm and soy oils would firm up in the first half of next year with consumption outstripping production, industry analysts said on Saturday. ..”For 2005/06, we expect soy oil prices to trade relatively stronger than soymeal. Additional demand for soy oil and other vegetable oils for biofuels will be a key bullish […]

High oil prices may boost use of substitutes

Rising crude oil price is expected to result in higher use of vegetable oils and fats as fuel substitutes, Thomas Mielke, Editor, OilWorld, said. “If crude oil prices stay above $60 a barrel they would be a stimulant for using oils and fats as fuel substitutes unless prices of vegetable oils rise,” he told a […]

Natural gas woes bigger story than crude oil

Having seen his prediction that crude oil prices would reach $65 a barrel become reality, Dr. Michael Economides is making equally bold predictions about natural gas. Natural gas prices, he said Wednesday while visiting Midland to address the Permian Basin section, Society of Petroleum Engineers, will reach $20 per thousand cubic feet (Mcf) around Christmas. […]

Solargenix To Build World’s Largest Solar Electricity Plant

Solargenix Energy announced today the approval of amendments to their Power Purchase Agreements with Nevada Power Company and Sierra Pacific Power Company by the Public Utility Commission of Nevada. This approval by the PUCN will allow Solargenix to complete the development of Nevada Solar One, a 64-megawatt (MW) Solar Thermal Electric Generating Plant located in […]

China and the US vie for oil resources

The US Deputy Secretary of State Robert Zoellick said two weeks ago that China would be increasingly in conflict with the US if it continues to pursue energy deals with “problematic” countries. “The increasing energy demand in recent years has made China realize the importance of energy and also the cooperation with US. There are […]

California Officials Approve Permits for Wind Farm

The Alameda County Board of Supervisors approved conditions on permits held by wind power companies like FPL Energy, a unit of FPL Group Inc., and other wind generators to produce electricity at the 584-megawatt Altamont Pass wind farm, one of the world’s largest wind energy centers. PlanetArk

95 Oil Companies to Set Up New Database

A new oil database, prepared with the help of seven major energy organizations and nearly 95 oil producing and consuming countries, including Saudi Arabia, will be published periodically after being released to the public near the end of this year. The database is prepared as part of a Joint Oil Data Initiative (JODI) by the […]

PM: Canada to invest in renewable energy

Prime Minister Paul Martin said Saturday that he intends to make Canada a major producer of renewable energy. The plan is to invest at least $920 million in promoting wind power over the next 15 years. CNews

UK scientist slams U.S. climate ‘loonies’

A leading British scientist said on Friday the growing ferocity of hurricanes hitting the United States was very probably caused by global warming and criticized what he termed U.S. “climate loonies” over the issue. CNN

French Energy Giant Prepares for Oilsands Project

French energy giant Total [TSX:TOT] says its new oilsands development in northern Alberta could cost about $9 billion, and the firm also plans to establish a conventional oil and gas business in Canada. ResourceInvestor

Hydrogen Internal Combustion

The Ford Model U Concept is propelled by an internal combustion engine (ICE) that’s optimized to run on hydrogen fuel instead of gasoline. The engine is supercharged and intercooled for maximum efficiency, power, and range. Its emission of all pollutants, including carbon dioxide, is nearly zero, and the engine is up to 25 percent more […]

Two refineries report damage

Valero, the nation’s leading refiner, said it will take “two weeks to a month to implement the necessary repairs and restart” its 255,000 barrel-per-day facility at Port Arthur. The Valero plant was one of seven major refineries at greatest risk from Rita. The seven together normally refine 1.7 million barrels of crude oil per day.Shell […]

Iranian Oil & Gas Deals in Jeopardy?

Iran has recently in no uncertain terms threatened European oil majors with the invalidation of their energy contracts with the country if Iranian relations with the British, French and German governments deteriorate further amid their efforts to curb Iran’s nuclear programme, negotiations to which end have not long broken down. Is this just an idle […]

The Oil Drum: A VERY Preliminary Analysis of Rita’s impact…

A discussion of damage models for production and refining, as well as all sort of other resources…All after the jump to The Oil Drum.

Rita Will Pack Punch At The Pump

The 21 refineries closed by the storm represent 27.5% of the total refining capability in the U.S., Platt’s energy news service reported. Another 5% remains out of commission in the aftermath of Katrina. The U.S. Minerals Management Service on Thursday said that 605 platforms in the Gulf were unstaffed, compared with 469 on Wednesday. More than 90% of the region’s oil production was blocked, while more than 65% of natural gas production was affected.

Forbes

Oil moves slowly at the Russian government roulette

The recent halt in growth at Yuganskneftegaz comes as an ominous sign that Russia has mismanaged the nationalization, analysts and industry insiders say. “Russia has to show that it’s not just a big energy partner but a potentially much bigger energy partner, particularly to the United States,” said Christopher Weafer, chief strategist at Alfa Bank. […]

Poverty in West Africa despite rise in oil prices

Soaring oil prices have boosted revenues for West Africa’s producers, but the region’s residents are still mired in poverty, with billions of dollars disappearing into just a few pockets. The Niger Delta, home to Africa’s biggest oil industry, supplies 96 percent of Nigeria’s external revenue and 65 percent of the federal budget. It exports 2,5 […]

President promises no problems with oil and gas

Victor Yushchenko urges all politicians not to speculate on oil and gas. He promised that Ukraine would not have such problems. President is convinced that some people can “inflame” this situation being professionally unaware of the actual state of affairs. He believes there are no reasons to think that Ukraine will not sign an annual […]

Oil producers are colonial exploiters: P Chidambaram

In sharp criticism of oil producers and the current petro prices, India’s Union Finance Minister P Chidambaram on Saturday compared the producers to “old colonialists who exploited developing countries”. ..”What is the difference between the old colonial regimes, when colonial powers exploited the colonies, took away their cotton, took away their iron, or took away […]

G7 MEETING Ministerial delegation to be sent to oil producers in Oct

G7 finance ministers agreed to send a delegation to oil producing countries in October in a bid to increase transparency in the oil market and get a better grip on supply-and-demand problems, officials said. .. The G7 is also likely to call on oil companies to increase refining capacity and emphasise the need for more […]

Officials propose plan to cut oil taxes

The Taiwanese Ministry of Finance and the Ministry of Economic Affairs have hammered out a plan to cut commodity taxes on gasoline, diesel and fuel oil by 30 percent for a period of three months from October, pending Cabinet approval. The commodity tax on jet fuel oil would remain unchanged, as it is taxed less […]

Brown to blame oil price rises for growth downgrade

Gordon Brown has set the stage for an embarrassing retreat over his economic predictions for Britain, signalling that he will cut his growth forecasts sharply while seeking to blame high oil prices. The Chancellor has repeatedly refused to back down on his Budget forecast for growth of 3 to 3.5 per cent this year. In […]

Pakistan makes plans to cut oil consumption

Pakistan is close to launching an ambitious plan to reduce its oil consumption amid warnings that economic growth may slow this year because of high energy prices, according to a top finance ministry official. …According to officials at the ministry of petroleum in Islamabad, one element of the plan is to expedite imports of liquefied […]

Tories are ‘ignoring energy crisis’

Tory leadership hopefuls are ignoring the “greatest crisis” facing Britain, energy, deputy leader Michael Ancram warns. …”Some politicians dismiss the energy crisis as a hyped green agenda. It is not,” he said. “Our political system will be severely challenged the day that a British citizen turns on the light switch and nothing happens or switches […]

The Peak Oil Crisis: The First Casualty (Zimbabwe)

When the historians come to write the history of the 21st Century, they may well record that the African nation of Zimbabwe was the first to succumb to peak oil… By last week, nearly all buses and commuter taxis in the capitol, Harare , had stopped running, forcing tens of thousands to walk to work. […]

Oil sands players eye nuclear option

Total SA’s murmurings about using nuclear power to fuel oil sands production in Alberta have opened debate on a topic many big-name players in the industry have been mulling quietly for several years.The Globe and Mail

Honda hopes to drive sales for a natural-gas car

Automaker sees a cheaper alternative to gasoline; others are skeptical It may seem strange to power a car with the same fuel youBut natural gas cars have their critics who say a workable infrastructure is not in place to completely service the fuel needs of the average car driver, and that the range of the […]

Peak Oil and Japan’s Food Dependence

In its September 12 edition, Morgan Stanley’s online newsletter reviewed recent calculations by the Cabinet Office

« Previous Page — Next Page »

LATEST NEWS HEADLINES

• Why the IEA is Wrong About Peak Oil Demand
• Did we inadvertently speed global warming?  
• Venezuela’s Oil Monopoly Eases
• Why Germany is Choosing Natural Gas Over Nuclear Power
• U.S. coal-fired electricity generation decreased in 2022 and 2023

• America Cracks Down on Methane Emissions from Oil and Gas Facilities
• Meet America’s Newest Oil Trader Extraordinaire: Joe Biden
• Is It Time To Refill America’s Strategic Petroleum Reserve?
• Oil prices set to end year 10% lower as demand concerns snap winning streak
• What’s Driving America’s New Oil and Gas Boom?
• China’s peak oil demand bombshell eviscerates Danielle Smith’s energy strategy