Energy Matters: US Awash in Oil, Outlook Still Bullish

..Weak gasoline prices, with front-month futures below $1.40 a gallon now compared with an average of $1.76 in January, make some imports uneconomical. And because gasoline prices fell much faster than crude, margins turned negative for three days this week for the first time ever, meaning refiners actually would be losing money on each gallon […]

Upward Adjustment of Fuel Prices Imminent

Fuel prices in Ghana may be adjusted upward today by about 15% to 20%, in line with the full cost recovery scheme, the closure of the Tema Oil Refinery (TOR) and world market trends. The Chief Executive Officer of the National Petroleum Authority (NPA), Mr. John Attafuah, hinted the Business Chronicle yesterday that the price […]

The Lights Are Still One But for How Long?

I think it is now common knowledge that southern Africa is approaching a power crisis, and that, despite stern warnings from many experts in the last eight years, all governments in the region have been sitting on cold eggs in all those years… The problem with power plants is that you don’t build them overnight. […]

Shell Oil Facility Blown Up

Barely 24 hours after the Joint Military Task Force in the Niger Delta, Operation Restore Hope, bombarded illegal oil bunkerers’ facilities in Okorenkoko, an Ijaw Community in Warri, a Shell Petroleum Develop-ment Company (SPDC) facility in Rivers State went up in flames yesterday, leading to the closure of a flow station with a daily production […]

Rise of solar energy puts squeeze on silicon supplies

In a state where tropical sunshine is near constant and electricity costs twice the national average, solar power seems an easy answer. But with the panels that produce the electricity already popular abroad and a batch of new domestic tax credits just kicking in, solar suppliers locally and around the globe are scrambling for stock. […]

When oil prices rise can petro engineers be far behind?

Although most petroleum engineers may not look like athletes, there are some who think they may need to start thinking like them. “I tell these kids as freshmen (that) by the time they get out of here, they’re going to need an agent to negotiate their contracts,” said Tim Taylor, a professor in charge of […]

Merkel calls for 15-year EU energy strategy

German chancellor Angela Merkel on Friday called on European Union states to agree on a 15-year strategy for energy supply and security. Speaking after talks in Berlin with Tony Blair, the British prime minister, Ms Merkel said a long-term EU-wide strategy was “absolutely necessary” to co-ordinate national approaches on energy sources and market access issues. […]

US supports China’s ambitious nuclear energy program – western diplomat

The US is committed to helping China’s clean development, and support for the sale of nuclear power plant equipment goes to the highest levels, a western diplomat told Interfax. “The US wants to be a part of such a rapidly growing nuclear power plant program,” said the diplomat. The Commerce Department has been actively involved […]

Japan brings balance to Central Asia

..Once Japan defined a clear purpose in Central Asia, it devised a sophisticated response marking the beginning of a new diplomatic phase in Central Asia. In a speech delivered to the Japan Association of Corporate Executives, then-prime minister Ryutaro Hashimoto outlined a new Eurasian foreign policy. Under the “Eurasian diplomacy”, Japan would help toward regional […]

Gravitomatic Introduces Method for Obtaining Heat from Gravity

Gravitomatic, Inc. announced Monday that they have devised a technology that generates heat from the energy of Earth’s gravitational field. ..Inventor and CEO, Gene Tomilko, expects that within three years the company will have the first commercially available gravitational electric power plant. And in four to five years, the first commercial car engine powered by […]

Rocks ‘could store all Europe’s CO2′

The entire carbon dioxide emissions created in Europe could be stored underneath the North Sea if the infrastructure were put in place, a Norwegian company has claimed. “There are calculations which say it could handle all of Europe’s CO2 emissions for several hundreds of years,” Statoil’s Senior Vice President for the Environment Tor Fraeren told […]

Reports: China, Iran Near Oil Field Deal

SHANGHAI, China – China and     Iran are close to setting plans to develop Iran’s Yadavaran oil field, according to published reports, a multibillion-dollar deal that comes as Tehran faces the prospect of sanctions over its nuclear program. The deal is thought potentially to be worth about $100 billion. Yahoo! News

Flamethrowers – By Chris Floyd

The kindling has been piled high, stuffed with tinder and doused with gasoline. The match has been lit. All it will take is the slightest flick of the wrist to set off the conflagration. We are now living in the interval, the few heartbeats left before the great flame ignites. The heap of kindling has […]

Governor to Push Global Warming Fight

Gov. Arnold Schwarzenegger’s administration is expected this month to release a plan to combat global warming that recommends raising petroleum prices and requiring industries to report, for the first time, their greenhouse gas emissions. The increase in gas prices would fund research into alternative fuels.SFGate.com

Does ‘Peak Oil’ + ‘Free Markets’ = Unending Volatility?

PARIS (ResourceInvestor.com) — The year moves towards its sixtieth day. But already we have seen a huge range in the oil price. January saw the NYMEX close to record highs at $69, then just a month later down as low as $57.65 – all in the space of a few weeks. That is a movement […]

Italy’s Eni Sees 10.8% Russia Gas Import Shortfall Friday

Oil and gas company Eni SpA (E) said Friday it expects supplies of gas from Russia to fall 10.8% below requested volumes in the 24-hour period to 0500 GMT Saturday due to an extended cold snap. The Rome-based company said in a statement that supplies of gas from Russia were 9.5% below requested volumes in […]

Conserving Plastic To Prevent Oil Depletion

Although people disagree as to how long it will last, it is certain that the world’s supply of oil will eventually be depleted. While much has been said about alternative sources of energy and fuel-efficient automobiles, oil is widely used for many other purposes which these solutions cannot replace. One major use of oil is […]

Southwest Gas bills rising 21% on average

Southwest Gas customers will see higher bills next month after state regulators approved a rate increase for the Las Vegas-based natural-gas company. The rate increase, combined with a fuel surcharge, means the average March bill will surge 21.3 percent to $64.35, according to figures provided by Southwest Gas Corp. The increase comes in two parts. […]

Cantarell

There are a lot of bad things out there waiting to bite as the world moves towards peak oil As our 10 km wide meteor was tooling along at 60,000 miles per hour when it hit, there was not much left of the meteor but vapor after the impact, but for a few seconds, there […]

A Way to Cut Fuel Consumption That Everyone Likes, Except the Politicians

SUPPOSE a politician promised to reveal the details of a simple proposal that would, if adopted, produce hundreds of billions of dollars in savings for American consumers, significant reductions in traffic congestion, major improvements in urban air quality, large reductions in greenhouse gas emissions, and substantially reduced dependence on Middle East oil. The politician also […]

Excellent Chevron Interview on BBC

The BBC’s Mike Williams interviews Chevron vice-chairman Peter Robertson on peak oil and the future of the oil industry. The vice chairman gets put on the spot in a major way by the British interviewer who mercilessly drills him on climate change, greenwashing, the inevitability of the end of oil as well as what the […]

Congressman Starts Inquiry of Windfall to Oil Companies

WASHINGTON Mr. Pombo, a California Republican, said he was beginning the investigation in response to an article published on Tuesday in The New York Times. That article, drawing on the Interior Department’s budget plan for next year, reported that the administration expected to give more than $7 billion worth of “royalty relief” to companies producing […]

British Gas announces 22pc price increase

The The latest increase, which follows rises by other providers and was predicted by The Daily Telegraph, will take effect from March 1. The company has 11.3 million gas accounts and 5.9 electricity accounts. Centrica said it hoped there would be no need for any further price rises this year, although it stressed there could […]

Matthew Simmons at Harvard University

End of the fossil fuel era? A car about to run out of gas can be traveling 70 mph until the moment the tank runs dry. Good thing cars have fuel gauges. While the world economy is humming right along, the fuel gauge for oil production is broken and at least one oil industry expert […]

Nigeria oil ‘total war’ warning

A Nigerian militant commander in the oil-rich southern Niger Delta has told the BBC his group is declaring “total war” on all foreign oil interests. The Movement for the Emancipation of the Niger Delta has given oil companies and their employees until midnight on Friday night to leave the region.BBC

Bacteria aiding global warming

The level of carbon dioxide in the Earth’s atmosphere is likely to grow more than expected as soil bacteria, in response to rising temperatures, break down more organic material and produce more CO2, according to results by an international research team. The phenomenon will in turn accelerate global warming, and the team’s findings serve as […]

Air Force Bombs Oil Bunkerers

The patience of the Federal Government with communities suspected to be harbouring militant Niger Delta youths waned yesterday as its Joint Military Task Force in the Niger Delta, Operation Restore Hope, bombarded Okorenkoko, an Ijaw community in Warri. Although the military said its action was targeted at illegal oil bunkerers at the community believed to […]

IEA says governments should restore energy spending

The International Energy Agency recommends that governments consider restoring energy research and development budgets to at least the levels of the early 1980s. “We need to use public funds as effectively as possible in achieving” a balanced and sustainable energy mix, said Claude Mandil, IEA executive director. “There is much at stake.”Oil & Gas Journal

NATO chief visits Warsaw in support of energy pact proposal

NATO Secretary General Jaap de HoopScheffer on Thursday expressed his support for Poland’s initiative for an energy security pact among European countries and Ukraine’s aspiration to join the North Atlantic Treaty Organization… Last week, the Polish daily Rzeczpospolita published Marcinkiewicz’s article on proposing an energy security pact among European countries which are obliged to help […]

Venezuela basks in oil ‘bonanza’

Mr Chavez and his ministers are increasingly putting natural gas at the forefront of their long term strategy for the next 20 years. ..”Oil will gradually run out around the world and more and more countries will turn to gas. Latin America will also have to switch to gas. In fact it’s much more efficient […]

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