Oil prices to remain volatile for the next few years: Opec, EU

Opec and the European Union warned yesterday that oil prices would remain potentially volatile for the next few years because of bottlenecks in the refining system. A joint statement issued by Opec and the EU following a meeting here warned that “serious tightness in the global refinery system would continue to strain market stability in […]

Britain ‘could bury greenhouse gases’

MPs will launch an investigation this week into a technology some scientists believe is our best hope for saving the world from global warming: carbon capture and storage. The technology – still in its infancy – involves taking carbon dioxide before it is released at power stations and burying it in disused oil or gas […]

Spending the surplus oil revenues will boost regional economic growth

The accumulated foreign reserves of the Arab Gulf countries have reached high levels estimated at $500 billion due to the surplus oil revenues of the past three years. The way that this oil bonanza is spent, will help shape future economic growth, not only in the Gulf countries but also in the region as a […]

G-7 ministers renew pressure on China

Economic officials from the world’s richest countries resumed their pressure on China to adopt a more flexible exchange rate and called Saturday for vigorous action against such threats to growth as high oil prices, protectionism and inflation. usatoday

OPEC-EU Dialog Essential to World Economy: OPEC Chairman

Chairman of the Organization of Petroleum Exporting Countries (OPEC) Sheikh Ahmad Al-Fahad said on Friday that continued dialogue between OPEC and European Union (EU) is essential to world economic stability, Kuwait’s official KUNA news agency reported. irishsun

Oil industry fears ‘end of boom’ as Brown plans North Sea tax rise

GORDON Brown is expected to launch a review of North Sea taxes in his pre-Budget report tomorrow that will pave the way for a fresh scotsman

Merkel Takes Heat Out of Russian Gas Deal in Poland

Seeking to improve relations soured by plans to build a Baltic gas pipeline between Russia and Europe, German Chancellor Angela Merkel has promised she will not go over Poland’s head in dealing with Moscow. Always suspicious of deals to its detriment between Moscow and Berlin, Poland was outraged by the agreement between Russian President Vladimir […]

Instability risk as energy demand soars

IT IS wrong to assume we are living in the age of oil. Age refers to a period of long duration. Analysts say we are living in a brief oil interval and that reserves are finite. The good news is that there is plenty of oil and gas in the ground to meet demand until […]

The answer is blowing in the windmill

You may not have got wind of this but in scale, itindianexpress

Iraq Report: It’s About the Oil

WASHINGTON, D.C.

Rumsfeld: Gulf oil, gas exploration could disrupt military activities

Supporters and opponents of expanding offshore energy production in the Gulf of Mexico are grappling over the significance of a letter sent this week by Defense Secretary Donald Rumsfeld indicating that some Gulf production would be “incompatible” with military activities. In a letter dated Wednesday to Senate Armed Services Chairman John Warner, R-Va., Rumsfeld said […]

UK Tax Changes May Hit North Sea Oil Output

The decline in North Sea oil output may accelerate if the U.K. chancellor introduces oil company windfall taxes in his upcoming pre-budget report as expected, energy specialists say. A growing number of economic experts predict that Chancellor Gordon Brown’s Dec. 5 report will propose that producers hand over a portion of their profits to the […]

Mission Accomplished: Big Oil’s Occupation of Iraq

The Bush administration’s covert plan to help energy companies steal Iraq’s oil could be just weeks away from fruition, and the implications are staggering: continued price-gouging by Big Oil, increased subjugation of the Iraqi people, more US troops in Iraq, and a greater likelihood for a US invasion of Iran. .. But Bush & Co. […]

Biodiesel producers asked to submit proposals

Biodiesel, the automobile fuel from plant sources, will get a much needed boost with oil companies announcing a programme to procure bio diesel from manufacturers. Indian Oil Corporation, Hindustan Petroleum, Bharat Petroleum and IBP have asked biodiesel manufacturers to put in proposals and expressions of interest on their capacity to supply the fuel. Sify

Facing the facts of world energy crisis

The Government is to announce a review of energy policy to tackle the UK energy crisis as concerns grow over future power supplies and rising gas costs. Tony Blair is believed to be convinced over the need for more nuclear power. Check out 20 facts about our energy… Cambridge Evening News

KREMLIN USES ENERGY TO TEACH EX-SOVIET NEIGHBORS A LESSON

Russia appears increasingly ready to use its status as a leading energy producer as an instrument of its muscular policy in the post-Soviet lands. Neighboring countries that do not have “special relations” with Moscow and that demonstrate pro-Western leanings are facing a steep rise in gas prices as of January 2006. …Some key Russian policymakers […]

A World Without Easy Oil: What Now?

The era of easy oil is over. What that means for car companies, policy makers, investors, consumers and the future of U.S.-China relations, however, is far from clear. The International Herald Tribune gathered a round table of experts in the board room of The New York Times on Nov. 15 to discuss these ponderables, along […]

Only Conservation Efforts Will Keep A Lid On Energy Costs: IEA

Growing output from Canada’s oil sands is helping to put a ceiling on crude prices for now, but only a global conservation effort will keep energy costs from spiralling upward in coming years, says a senior official of the International Energy Agency. The Globe and Mail

Conservation Isn’t Enough

Although American motorists may have gotten some good news at the gasoline pump recently as prices have fallen from their summer highs, the fact is that in the long term, the price of fossil fuel products will continue to rise unless we take measures to prevent it. World oil and natural gas demand, generated especially […]

China begins large-scale methane resources exploitation

A 100-million-cubic-meter coalbed methane exploitation project has been completed in north China’s Shanxi Province, marking the country has finally began to make use of the gas on an unprecedented scale. Shanxi Province boasts an abundance of coal resources. It is also China’s largest reserve base of coalbed methane. The estimated methane deposit is about one […]

Study finds economic gains in greenhouse gas rules

California’s strict environmental laws, often derided as a drag on growth, actually saved consumers and businesses $56 billion through gains in efficiency since the first major oil price spike in the 1970s, a Stanford University study released on Friday shows. Yahoo

G7 ministers focus on trade talks

Finance ministers and central bank governors from the G7 group of nations are meeting in London for a two-day summit ahead of WTO talks in Hong Kong. Making his farewell appearance at the conference before retiring in January, Alan Greenspan – 18-year veteran chairman of the US Federal Reserve – warned that trade barriers and […]

Japan aims to increase patrols in gas field dispute

Japan plans to dramatically increase the number of boats and planes patrolling a gas field disputed with China in the East China Sea, an official said, amid high tension between the neighboring nations. The Japan Coast Guard is asking the finance ministry for about 28.7 billion yen (HK$1.85 billion) in its budget for fiscal 2006 […]

Syntroleum initiates clean fuel program with coal-derived synthesis gas

During the last two years at Syntroleum’s 70 barrel per day gas-to-liquids (GTL) facility at the Port of Catoosa near Tulsa, it has utilized its proprietary FT-410 cobalt catalyst to successfully demonstrate the Syntroleum Process by producing ultra-clean diesel and jet fuels from natural gas feedstock for various US government programs. “This testing program is […]

New Global Energy Options

Bourne Energy, an alternative energy startup based in Los Angeles, has completed initial scale model tank testing of its OceanPowerDam, composed of an interconnected array of BourneENN

Fuel Up With Banana Peels

Mad scientist Doc Brown powers his time machine by feeding coffee grounds and other biowaste into the DeLorean in Back to the Future. While time travel is still in the realm of science fiction, carbon-based fuel cells are about to become science fact — rendering a similar scenario all the more possible. SRI announced in […]

U.N. seeks to streamline Third World energy scheme

A U.N. scheme to promote clean energy such as wind and solar power in the Third World is set to win a bigger budget at U.N. climate talks in Canada, but some experts said on Friday that planned reforms are half-hearted. If successful, some estimates say the plan might funnel $100 billion in investments to […]

OPEC President Has Support to Keep Output Unchanged at Meeting

OPEC President Sheikh Ahmad al-Sabah said Friday that other members support keeping output unchanged at current levels when the group meets Dec. 12. But he said the Organization of Petroleum Exporting Countries had yet to decide if it would continue to offer an additional 2 million barrels a day spare capacity to the market. rigzone

Poison + Water = Hydrogen. New Microbial Genome Shows How

Take a pot of scalding water, remove all the oxygen, mix in a bit of poisonous carbon monoxide, and add a pinch of hydrogen gas. It sounds like a recipe for a witchnewswise

The Oil Drum: The Baku-Tbilisi-Ceyhan pipeline is delayed

For those who were expecting the supply from the Caspian to begin appearing through the BTC pipeline in Ceyhan about now, Argus has a story that the pipeline will not begin deliveries until May 2006, at the earliest.More after the jump to The Oil Drum.

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