EU to unveil new biofuel strategy

The European Union will this week unveil a new strategy for the use of biofuels across the 25-member bloc. Mariann Fischer Boel, European commissioner for agriculture and rural development, previewed the possibilities for a Europe run on biofuel in the Feb. 6 edition of Parliament Magazine. “The seeds have already been sown through our recent […]

To reduce oil intake, Bush’s energy plan can only do so much

Unfortunately, although the president’s focus on the problem in his State of the Union address was helpful, his suggestions for action will not alone solve the problem. As foreign policy expert Michael Mandelbaum points out in his new book, “The Case for Goliath,” the Manhattan Project and others were developed entirely outside the commercial economy. […]

Britain accelerates toward cleaner future

But now, the farmer hopes his wheat might literally become the driving force of his 1,400-acre Friar Maine farm in southern England. Instead of heading to the bakery, Goldsack’s harvest will now go to a nearby plant for conversion into bioethanol usatoday

January Was America’s Warmest on Record

January was a fair-weather friend. Recording the warmest January on record allowed Americans to save on their heating. But like all good things, last month’s mildness seems to have been too good to last. The country’s average temperature for the month was 39.5 degrees Fahrenheit, 8.5 degrees above average for January, the National Climatic Data […]

New mini-ice age?

ST. PETERSBURG, Russia, Feb. 7 (UPI) — A Russian astronomer has predicted that Earth will experience a “mini Ice Age” in the middle of this century, caused by low solar activity. Khabibullo Abdusamatov of the Pulkovo Astronomic Observatory in St. Petersburg said Monday that temperatures will begin falling six or seven years from now, when […]

Saudi minister slams costly alternatives to oil

HOUSTON – Mandating costly alternatives to oil in the name of a cleaner environment could impoverish people and lower living standards, the Saudi Arabian oil minister said on Tuesday. “I believe that we should not impoverish people in the name of a cleaner environment,” Saudi Oil Minister Ali Al-Naimi told an energy conference. “Lowering living […]

Exxon: America Will Always Rely on Foreign Oil

The United States will always rely on foreign imports of oil to feed its energy needs and should stop trying to become energy independent, a top Exxon Mobil Corp. executive said on Tuesday. “Realistically, it is simply not feasible in any time period relevant to our discussion today,” Exxon Mobil Senior Vice President Stuart McGill […]

UK troops rushed to Afghan riot

Nato has sent British reinforcements to a riot-hit Afghan town after crowds protesting at cartoons satirising the Prophet Muhammad attacked peacekeepers. The UK troops were sent to the airfield at Meymaneh, in the north-west. The move came after three protesters died as they tried to storm the town’s Norwegian-led peacekeeping base. The cause of their […]

Budget doesn’t allocate funds to build oil reserve

President proposal has no provision to satisfy Congressional requirement that strategic reserve grow to 1 billion barrels. WASHINGTON (Reuters) – Congress is requiring the Bush administration to add almost 300 million barrels to the nation’s emergency oil stockpile, but the White House on Monday did not seek money to buy the crude in its proposed […]

In Search of the ‘Flex-Fuel Freeway’

The seemingly sudden elevation of ethanol in the national consciousness — capped this past week by the “addicted to oil” admission in George Bush’s State of the Union address — shows the value of persistence and patience for those promoting alternative energy resources, and underscores the notion that every underdog has its day. But it […]

Will Iran dispute push oil to $130?

While the U.S. imports no Iranian crude, worries about Tehran’s nuclear program are boosting prices. It could get a lot worse if the spigot is shut off. NEW YORK (CNNMoney.com) – Not a drop of oil from Iran reaches the nation’s gas pumps. But escalating tensions about Iran’s nuclear program are already being felt in […]

GM slashes dividends to cut costs

Struggling carmaker General Motors has halved its dividend and cut executive salaries as it tries to slash costs. The move will slice $565m (Chairman Rick Wagoner is to take a 50% pay cut while GM is to overhaul its employee healthcare and pension schemes as it seeks further sizeable savings. The US giant is struggling […]

Budget flights arrive in South-East Asia

Cut-price air travel has arrived in South-East Asia – and it is making the same kind of impact as it did in Europe and the United States. Well-established national carriers that have enjoyed near-monopolies are finally being challenged. The newcomers use a similar business model to internet-based operations in Europe and the US. BBC

China ‘main threat to UK economy’

The British people see China and India as the biggest challenges to the UK economy over the next five years, a Deloitte/YouGov survey has found. In a study of public attitudes to global economic competition, 79% of 2,704 people identified fast-growing China as the largest threat to the UK. India was seen as the main […]

India’s economy accelerates again

India’s economy is set to grow by a faster-than-expected 8.1% in the year to the end of March, according to a government estimate. It represents the fastest growth in two years, and beats forecasts from Indian economists and the central bank. Growth is being helped by a boom in the manufacturing and services sectors, set […]

Hawks have warplanes ready if the nuclear diplomacy fails

It is the option of last resort with consequences too hideous to contemplate. And yet, with diplomacy nearly exhausted, the use of military force to destroy Iran Those efforts, however, are now faltering. US leaders are openly discussing the looming conflict. A recent poll showed that 57 per cent of Americans favoured military intervention to […]

Europe wants to push biofuels

BRUSSELS – Farmers should grow substantially more biofuels, like rapeseed for biodiesel or beet sugar for bio-ethanol. This is the conclusion of an action plan by European Commission members Fischer Boel (Agriculture) and Michel (third world development and aid), according to sources in Brussels on Tuesday february 7th, 2006. The biofuels should make Europe less […]

Farmers Ask Congress for ”Energy Escalator Clause” in Farm Bill

Washington – American Farm Bureau Federation (AFBF) delegates are asking Congress to extend the provisions of the 2002 farm bill with an emphasis on an Energy Escalator Clause due to the impact that higher fuel and fertilizer costs are having on farm profitability. “Farmers are feeling the pain of rising input costs, including energy prices, […]

America Needs an Oil Change

“America is addicted to oil.” So said President Bush in this year’s State of the Union. Nice line! Is it true? Since 1980, the U.S. economy has more than doubled its output, adjusted for inflation. Over the same period in which the U.S. economy was growing by more than 100%, America’s use of petroleum has […]

Assemblyman calls for tougher gas theft penalties

ALBANY, NEW YORK – A state assemblyman from Rensselaer County said Monday there continues to be a need for tougher penalties for people who drive away from the pumps after filling their vehicles with gasoline and not paying. Republican Assemblyman Pat Casale said he is reintroducing a bill that failed in the Assembly last year. […]

Oil industry disputes proposed budget trim

WASHINGTON (CNN) — Oil drilling companies are upset that the Bush administration has proposed killing funding for oil and natural gas exploration research and development programs at the Department of Energy, an industry lobbyist said Monday. The proposed cuts were included in the $2.77 trillion budget for the 2007 fiscal year that President Bush presented […]

Addiction to oil isn’t limited to U.S.

During last week’s State of the Union address, President Bush uttered the words few thought he would ever say: “Here we have a serious problem. America is addicted to oil.” To be sure, the U.S. is the biggest consumer of crude in the world. But it is hardly alone in its addiction. A review of […]

Beware the Ides of March

If Julius – regarded as one of the greatest Caesars – couldn History was created on Jan 1 when Russia abruptly cut off gas supplies to Europe for a day; a brutal reminder that the stakes in the current game can be raised dramatically at will. It caught the world by surprise, converted millions into […]

Alleged heating fuel thief indicted

BANGOR, MAINE – A Brewer man who reportedly stole thousands of gallons of heating fuel last April and sold it to customers at a significantly reduced rate was indicted Monday by a Penobscot County grand jury. Benjamin Tibbetts III, 30, was charged with Class B theft, a felony punishable by up to 10 years in […]

Air officials track deaths tied to diesel

Study focusing on trains, boats aims to influence EPA rule making WASHINGTON – Trains and boats powered by diesel-fueled engines cause about 4,400 premature deaths, nearly 5,700 nonfatal heart attacks and more than 73,000 asthma attacks in children, says a study by associations representing air pollution control officials. The study by the trade groups

Oil Prices: The New Reality

Paul Horsnell, an analyst at London-based investment bank Barclays Capital (BCS ), says the markets are sending a message: “Whatever the long-term price is,” he says, “it is not $20 per barrel.” Horsnell and other analysts believe a profound rethink about prices is occurring, with the market trying to figure what price will spur new […]

Oil prices drive Kazakh economy

The economy of Kazakhstan grew by 9.4% in 2005, as the Central Asian nation benefited from soaring world oil prices, its economy minister said. Exports in 2005 from the former Soviet republic grew 36.3% on the previous year, amounting to $28bn (BBC

New role for Middle East as energy consumer

The Middle East, long recognised as a top oil producer, is taking on a new role as one of the world’s fastest-growing regions for energy consumption. The increased clip at which it burns petroleum – twice its historical average and close to the growth rate of the Asia-Pacific region – is contributing to tight oil […]

Oil imports and China’s great energy thirst

Experts expect China’s oil imports to increase dramatically despite greater use of domestic and alternative energy sources. With an annual economic growth rate averaging more than 9 per cent, Beijing must find additional foreign oil and gas supplies whilst limiting its overall reliance on foreign sources through conservation and higher nuclear and hydroelectric power output… […]

Oil: Could Uganda be on the verge of unearthing greasy dollars?

Mid last month, Hardman Resources, a mining company announced it had hit oil in western Uganda, though it is yet to confirm the commerciality of the oil. Business & Finance’s Muhereza Kyamutetera asks Mr Reuben Kashambuzi, Commissioner Petroleum Exploration in the ministry of Energy and Minerals on how far Uganda has gone in her search […]

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