Oil Firms May Pay $10 Billion To Drill in Alaska

Energy companies may pay as much as $10 billion for the rights to drill for crude oil in Alaska’s Arctic National Wildlife Refuge (ANWR), double the government’s official estimate, the Congressional Budget Office said on Thursday. The higher revenue figure could turn some U.S. lawmakers in favor of ANWR drilling to help offset the huge […]

Chevron expands its capital spending toward exploration production and refining

Chevron Corp. said Thursday that it will boost capital spending by 35 percent to $14.8 billion next year. The money will fund exploration, production and refining, the key elements to increasing the future supply of oil and gas. Dave O’Reilly, chairman and CEO of the San Ramon company, said in a statement that the size […]

Pellet-Burning Stove Owners Have a Problem: No Pellets

Consumers with wood-pellet stoves are facing a severe shortage of the only fuel that can be used in those stoves: processed wood pellets. “The pellet-stove industry was caught by surprise by the tremendous demand for wood-pellet stoves and the pellet fuel that they burn,” said New York Consumer Protection Board (CPB) Chairman and Executive Director […]

Spend billions on nuclear and renewable energy, Ontario told

Maintaining a stable supply of electricity in Ontario could cost the province $70 billion over the next 20 years, a report from a provincial government agency warned Friday. In its 1,100-page report, the Ontario Power Authority said Canada’s most populous province won’t be able to meet energy demands by 2013 unless the provincial government takes […]

Treasury hijacks funds meant for green causes

Hundreds of millions of pounds raised from electricity bills to help develop renewable energy are being diverted to the Treasury, creating a new ” stealth tax”. So far, the Treasury has taken independent

Who’s Afraid of the Big Bad Wolf?

The bullies in the White House, it appears. This week in Montreal, the Bush administration’s approach to global warming became increasingly embarrassing. Indeed, to much of the world the U.S. is in danger of resembling a third-world despotism in which the government’s legitimacy runs only as far as the nearest international airport.  Things were already […]

Kuwait to pump $44bn into oil

The Gulf state of Kuwait has earmarked more than $44 billion over the next 15 years to upgrade its oil industry and boost output to four million barrels per day (bpd). “Total estimated investments in the oil sector from 2005 to 2020 will exceed 44 billion dollars. We aim to modernise the sector and boost […]

UK trade gap narrows as oil is back in surplus

Britain returned to its position as a net exporter of oil in October after two straight months of importing more than it shipped abroad, official figures showed yesterday. The surplus in oil trade helped the overall trade deficit to narrow more than analysts had expected, according to data from the Office for National Statistics. guardian

Global corruption ‘on the rise’

Corruption is on the increase in a majority of countries around the world, according to a study by global pressure group Transparency International. The survey showed that taking bribes was particularly prevalent in Africa, Eastern Europe and Latin America. BBC

Mexico’s Pemex Says Output at Cantarell

Crude oil production at the Cantarell oil field in the Gulf of Mexico will drop 6 percent to 1.91 million barrels a day next year, falling further to 1.43 million barrels per day by 2008, state oil monopoly Petroleos Mexicanos, or Pemex, said on Thursday. Cantarell, Mexico’s largest oil field, produced 2 million barrels per […]

Alaska To Study Gas Production’s Effect On Oil Extraction

North Slope oil field regulators will study how tapping Alaska’s natural gas bonanza could hurt oil production. Siphoning off large volumes of gas, used now to maintain pressure in fields and force out oil trapped in porous rocks, could result in millions of barrels of oil being stranded in the ground. Gov. Frank Murkowski is […]

Blue sky thinking in choking China

Liu Wen-shan, the director of Wuhan’s Environmental Monitoring Centre, is very proud of his state-of-the-art system. “How was the air quality today?” I asked. “Quite good,” he said. “In line with international standards?” I asked. “Yes,” he answered. BBC

US out in the cold at world climate talks

The United States was isolated last night after refusing to sign a deal to cut greenhouse gas emissions agreed by the rest of the world. Delegates representing 180 countries at a UN conference committed themselves to speed up climate change measures agreed in the 1997 Kyoto treaty. telegraph

Europe’s pollution hotspots shown

Dutch scientists are putting together remarkable maps showing pollution over Europe and other regions of the globe. Using the US space agency’s Aura satellite, the team can look right down to the troposphere, the lowest part of the atmosphere where we all live.BBC

Clinton steals show at climate talks

Former U.S. President Bill Clinton told U.N. climate talks in Canada on Friday that the Bush administration was “flat wrong” to reject the Kyoto accord and said cutting greenhouse gases was good for business and the planet. Clinton said a serious commitment to a clean energy future was the solution and this would lead to […]

OEPC Likely to Trade Boom for Falling Prices in 2006

For OPEC, the easy days may be drawing to an end. Thanks to strong demand, a global economy that continues to show strength, limited increases in supplies from non-OPEC producers like Russia and Kazakhstan, and repeated interruptions of oil production in the Gulf of Mexico, OPEC producers have gone through 2005 with what has been, […]

Air Force Looks to Fuel Cells for Savings at Home and Abroad

Robins Air Force Base officially welcomed an alternative fuel technology of ten 5 kW fuel cells that could save the Air Force thousands of dollars in energy costs at an opening attended by base leaders and representatives from Plug Power, Logan Energy, the Army Corps of Engineers Research and Development Center and others. renewableenergyaccess

‘Peak Oil’ Argument does Not Account for Nontraditional Sources – Analyst

The world is not running out of oil, and fears of “peak oil” are prompted more by outdated reserve reporting requirements than anything else, an industry analyst told a U.S. House panel today. Robert Esser, senior consultant and director of global oil and gas resources for Cambridge Energy Research Associates, said his firm’s field analyses […]

Speculators Force Natural Gas Prices to All Time High

“This is a disaster for American industry, the American farmer and for the 55% of Americans who heat their homes with natural gas,” said Mr. Huntsman. “It is particularly painful for those on fixed incomes who simply cannot afford to pay prices that are double most of the rest of the world. And the most […]

Americans Burning Corn to Cut Heating Costs

As US heating costs spiral to all-time highs, American homeowners are turning to burning corn in special stoves to reduce their energy bills. Sales of corn-burning stoves have tripled this year and distributors across the country have been sold out for weeks. “We are actually taking deposits for products for next fall – it’s all […]

Gold and natural gas … a tag team?

Prices for both are going sky high … but it may not be a match made in heaven. NEW YORK (CNNMoney.com) – Big numbers: $15.52 and $524.75!!!!! The first is an all time high for natural gas, the second a 24 year high for the price of gold! Is there a correlation? Depends on what […]

Oil barons, pay up

NEW YORK (FORTUNE) – I don’t think Big Oil is evil. In fact, unlike the writers of the new movie “Syriana,” I don’t think corporate oil execs are especially corrupt — they’re like you, me and everyone else — just trying to make a buck. The big difference lately is that they’re making a lot […]

Russian-German gas link launched

Work has begun on the construction of an ambitious gas pipeline project linking Russia and Germany via the Baltic Sea. The link will deliver Russian gas to Germany – and eventually to other Western European nations – by 2010. But the 1,200km (744 mile) pipeline is not without controversy.It is set to bypass Poland and […]

Cities Question Cost of Hybrid Cars

PHILADELPHIA – By gradually adding hybrids to this city’s vehicle fleet, James Muller knows he’s helping to save the environment. What he doesn’t know is whether switching to the more expensive “green” vehicles will save taxpayers money. The city just bought 20 new hybrid Ford Escapes to add to the six Toyota Priuses already in […]

The Oil Drum: Listening to the cacophony and trying to make some sense

Everybody seems to have an opinion about where oil prices are headed and a rationalization for their prognostication. Let’s go over them and get an idea of the bases of their arguments. More after the jump at The Oil Drum.

Tougher Year Lies Ahead for OPEC

For OPEC, the easy days may be drawing to an end. Thanks to strong demand, a global economy that continues to show strength, limited increases in supplies from producers like Russia and Kazakhstan, and repeated interruptions in production from the Gulf of Mexico, members of the Organization of the Petroleum Exporting Countries have gone through […]

National Grassroots Campaign to Spread Awareness of Peak Oil to

To further raise the awareness among Syriana audiences that oil supply disruptions are coming and that preparations urgently need to begin locally, Post Carbon Institute (postcarbon.org) is mobilizing volunteers around the country to distribute catchy flyers to moviegoers before and after the film. (PRWEB) December 9, 2005 — Our tragic reliance on oil is grimly […]

Storms impact on production seen lasting

Oil, gas production won’t recover until summer, energy secretary says WASHINGTON – Oil and natural gas production in the Gulf Coast area probably won…Advocates for the poor have argued that as much as $5.1 billion in federal energy assistance is needed to keep up with the high fuel oil and natural gas prices people will […]

Natural gas prices jump to all-time high

Winter weather seen boosting crude oil past $61 barrel SINGAPORE – Natural-gas prices rose to a new record Friday as a winter storm hit the northern United States, while crude and heating oil prices also gained amid expectations for strong demand. Natural gas for January delivery reached a new intraday high of $15.52 per 1,000 […]

Americans brace for an expensive, cold winter

Hurricanes’ impact on heating oil costs will last until summer In Commerce Township, Mich. Thursday, the thermometer read 22 degrees Her husband makes $40-50,000 a year at Ford, but with three kids, two cars and a mortgage, their budget is already stretched thin.

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