High gas prices alter driving habits

Record gas prices have put a dent in our driving habits. The growth in miles driven in the USA, a mostly steep climb for 25 years, has flattened in the past year as gas prices spiked, according to a USA TODAY analysis of Federal Highway Administration data. Driving in summer 2005 through August increased less […]

Venezuela, Iran Sign Deal to Explore Orinoco Oil Reserves

The Orinoco region has reserves of heavy oil and bitumen, tarry substances which can be used to make synthetic oil. Four heavy-crude upgrading projects in the area currently produce as much as 600,000 barrels a day of synthetic oil.

The project is part of a larger plan to document Venezuela’s proven oil reserves, to vastly increase the value of oil to the nation. Venezuela’s proven oil reserves are around 81 billion barrels, but the government believes that some 235 billion barrels of deposits are lying, undocumented, in the Orinoco belt.

RigZone

India To Raise Oil Price Increase Issue At Asean Summit

India, being a large oil importer, will raise the issue of rising oil prices at the 11th Asean Summit as this is affecting its growing economy as well as those of Asean countries. ..In 2003, the Indian economy consumed 2.2 million barrels of oil per day and this is expected to rise to 2.8 million […]

Ukraine seeks own oil profit

Russian President Vladimir Putin expressed confidence Ukraine can afford buying Russian gas at market prices, underscoring the stance taken by Moscow in the “gas conflict” with Kiev. The gas talks with Ukraine should not affect the development of interstate relations between the two countries. This situation should not put “our Ukrainian colleagues in a difficult […]

Biomass: the miracle solution?

The European Commission adopted the Biomass Action Plan on 7 December 2005. The main objective of the Action Plan is to double the use of bio-energy sources (wood, wastes, agricultural crops) in the EU’s energy mix by 2010. Currently, the EU meets about 4% of its energy needs from biomass. The plan outlines 31 measures […]

Ghana steps up effort to promote renewable energy

In a bid to promote the use of renewable energy, the Ministry of Energy is to enter into power purchase agreement with renewable energy operators under terms that are in line with the Public Utilities Regulatory Commission (PURC) guidelines. The move is to encourage the private sector to develop, construct and operate stand-alone and non-grid […]

Brazil takes a major step toward oil self-sufficiency

Early next year, Brazil will begin producing as much oil as it consumes, and shortly thereafter it’ll join the ranks of the world’s net oil exporters. The accomplishments are due to a years-long push to find oil within Brazil’s borders and to decades of government efforts to keep oil consumption low by encouraging the use […]

Gulf of Guinea: Nigeria, US unveil strategies to secure oil supplies

Nigeria and the United States of America have unveiled strategies aimed at securing oil supplies in the Gulf of Guinea, as well as a multi-facet approach towards solving the unrelenting security problems and the issue of poverty in the Niger Delta. The US government also explained that it does not have a permanent military presence […]

China, Japan sign trade pact; oil supplies dropped – report

China and Japan signed a long term trade agreement without any commitment by Beijing to supply oil, the official Shanghai Securities reported. The agreement, signed earlier this week, covers trade for 2006 to 2010, the newspaper said. Forbes

OPEC Likely to Leave Output Unchanged

The Organization of Petroleum Exporting Countries (OPEC) is expected to leave output unchanged when it meets in Kuwait on Dec. 12 to decide production policy. President of the 11-member organization, Ahmed Fahed Al-Sabah, who is also Kuwait’s Energy Minister, along with members such as Iran and Nigeria, have repeatedly stated over recent days that they […]

Middle Eastern Energy and U.S. National Security

On November 29, 2005, Edward Morse, David Goldwyn, Simon Henderson and Paul Simons addressed The Washington Institute’s Special Policy Forum. The forum, titled “Where Are Oil Prices Headed in 2006?” marked the publication of the Institute’s policy focus, Reducing Vulnerability to Middle East Energy Shocks: A Key Element in Strengthening U.S. Energy Security, by Simon […]

Safe nuclear energy: India showed the way

Several reactors operating with thorium fuel were built in the 1970s. These reactors used a mixture of thorium and highly enriched uranium. By the end of the 1980s, they were closed down with plentiful availability of uranium. India is now perhaps the only country to have an operating reactor — Kamini, the mini reactor at […]

Gold keeps sparkle for investors

Gold prices have climbed to their highest level in almost 25 years, and analysts are predicting further gains. Prices rose as high as $518.92 an ounce in Asian trading, a level not seen since April 1981. Many investors are buying gold to protect themselves against quickening inflation and a drop in the values of the […]

First steps taken to restart BP refinery

The nearly 27-mile-long steam system at BPalvestondailynews

Iraq: Oil licence auctions not before 2007

The licence auctions for the rights to develop oilfields in Iraq are unlikely to be held before 2007, owing to persistent instability and violence, Royal Dutch Shell’s vice president for strategy suggested yesterday. “The oilfields represent more of a long-term opportunity”, John Mills said on the sidelines of a conference at the International Maritime Organization […]

California Climate Action Team Urges Mandatory Greenhouse Gas Reporting, Petrole

The California Climate Action Team, a high-profile advisory panel appointed by California Governor Schwarzenegger, has issued a comprehensive draft report urging a number of actions to reduce the stategreencarcongress

USA to steal oil-rich Arctic region away from Russia

The US administration plans to launch an extensive economic intrusion in the Arctic from Alaska One can hear political experts and international observers saying that Russia has been taking firm steps to win the title of a full-fledged member of the system of international relations. Does Russia have any other competitive advantages besides natural resources, […]

Clean fossil fuels ‘will power world into next century’

Fossil fuels will still be generating most global electricity at the end of this century, but new technology will be pumping the carbon emissions underground, an energy expert forecast yesterday. Prof Jaccard told The Daily Telegraph: “If humanity is serious about huge carbon emission cuts this century, zero-emission fossil fuels will dominate nuclear, renewables and […]

Economists Warn Bush About the High Cost of Inaction on Global Warming

At the daily Climate Action Network (CAN) press briefing at the Montreal climate change negotiations, 25 respected American economists, including three Nobel laureates, called upon the United States to move aggressively to combat global warming. These economists, all with expertise on applying economics to environmental policy, assert that unless we act now, the price of […]

RFA President Reassures BP CEO on Misgivings About Ethanol

Renewable Fuels Association (RFA) President Bob Dinneen Dec 8 wrote to BP CEO Lord John Browne in response to recent remarks by Sir Browne concerning renewable energy generally, and ethanol specifically. With regard to ethanol, Dinneen corrected Sir Brownegrainnet

Sustainable Development Can Cut Greenhouse Gases

Most developing countries, including the three biggest emitters — Brazil, China and India — have said that they cannot sacrifice their social and economic development goals in order to reduce their emissions. But the WRI believes that development targets such as energy security, providing electricity to entire populations, and improving urban transportation can go hand-in-hand […]

Chevron Pumps Up Petrodollar Plans

Accordingly, the country’s No. 2 player in energy, Chevron (NYSE: CVX – News), announced a significant increase in its capital budget for 2006. All told, the company intends to spend about $14.8 billion in 2006, up 35% from 2005. In addition, the company announced a $5 billion, three-year share repurchase plan, which would absorb a […]

Petrol prices dampen Australian economy – Howard

CANBERRA, Dec 9 (Reuters) – Australia’s economy has been dampened by high petrol prices and the effects will flow on into next year, Prime Minister John Howard said on Friday. Australian Bureau of Statistics data released on Wednesday showed Australian gross domestic product grew 0.2 percent — compared with market forecasts of 0.5 percent — […]

Inuit sue US over climate policy

People living in the Arctic have filed a legal petition against the US government, saying its climate change policies violate human rights. The Inuit Circumpolar Conference (ICC) claims the US is failing to control emissions of greenhouse gases, damaging livelihoods in the Arctic. Its petition to the Inter-American Commission on Human Rights demands that the […]

Efficiency, Intensity, and Getting from Here to There

Jamais Caisco over at WorldChanging projects that in a few years, the United States will emit less carbon that it does presently. This, he argues, is true even if the economy continues to grow. Here’s a fascinating analysis of trends in energy demand.

Link

Gold soars on inflation and interest rate fears

Fresh concerns about inflation and interest rates unsettled US and European equities on Wednesday but helped drive the price of gold to its highest for nearly a quarter of a century. Lena Komileva, G7 market economist at brokers Tullett Prebon, noted that recent comments from Federal Reserve officials had done little to dissuade the market […]

ACORE Forms Biomass-specific Council

In keeping with its mission to provide a common platform for the renewable energy community, the American Council On Renewable Energy (ACORE) initiated the Biomass Coordinating Council (BCC) specifically to address the rapidly growing renewable biofuels, biopower and bio-based industries. Further, ACORE will expand the trade show, and rename it Power-Gen Renewable Energy & Fuels […]

184. THE ISLANDS

Clearly, we have a problem here: how do we shift the islands away from oil, and shield them from the punishing effects of high oil prices (or shortages)? At first glance, it looks like dark clouds are looming, but these clouds have a silver lining: sugar. Many islands like Haiti, Cuba and Hawaii have a long history of sugar cane cultivation. As they say in Cuba “Sin azucar, no hay pais” (no sugar, no country). This dovetails nicely with the rise of Brazilian sugar cane ethanol, which is cheaper per btu than gasoline. In fact, a great deal of the poverty in island nations like Cuba and Haiti is directly attributable to low sugar prices. Sugar cane ethanol can change that.

Peak Oil Debunked

Experts: Coast can generate, control energy

A standing room only audience of more than 100 people got charged up Friday in Fort Bragg by speeches on solar home power, wind power at the former Georgia Pacific mill site, and ways that the Mendocino Coast can plug into more alternative power and local control. …To start the meeting Steve Heckeroth laid out […]

Cost of Fuel Moves to Top of Worry List

As if small-business owners don’t have enough to juggle, an expensive new worry hit them this fall: the rising cost of energy. Soaring energy prices after Hurricanes Katrina and Rita struck small businesses across the board: from gasoline to power their vehicles to natural gas for heat.Two-thirds of small and medium-size businesses surveyed this fall […]

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