Scientists Find Big Afghan Oil Resources

Two geological basins in northern Afghanistan hold 18 times the oil and triple the natural gas resources previously thought, scientists said Tuesday as part of a U.S. assessment aimed at enticing energy development in the war-torn country. Nearly 1.6 billion barrels of oil, mostly in the Afghan-Tajik Basin, and about 15.7 trillion cubic feet of […]

UK gas prices rise only 23 percent on Tuesday, after they quadrupled on Monday

UK wholesale gas prices have risen 23% to 230p a therm after supply troubles forced National Grid to ask industrial users to limit their usage. On Monday prices had quadrupled after a fire shut the UK’s main storage facility and the recent cold snap made domestic usage soar. If the situation gets worse, industrial users […]

Gasoline Futures Surge on St. Croix Refinery Shutdown

Gasoline futures surged nearly 7 percent Tuesday on word of a large refinery snag, marking an almost 50-cent-per-gallon increase over the past month that is sure to send pump prices higher. “We are looking at retail prices that will soon be above $2.50 gallon nationally, and could perhaps eclipse the $2.60 per gallon” level, said […]

China Resources Power Feb Generation Up 49.8% On Year

HONG KONG (Dow Jones)–Independent power producer China Resources Power Holdings Co. (0836.HK) said Friday its power generation in February rose 49.8% from a year earlier. The company, which supplies power to China’s wealthy provinces of Guangdong, Zhejiang and Jiangsu, said in a statement that its power generation in February totaled 3.9 million megawatt-hours, up from […]

The Oil Drum: Getting Gas from Crude

Some recent posts have dealt with coal production, so for a change I thought I would return to oil, for a couple of techie talks. It seems particularly relevant since the discussion has returned to the Canadian Oil Sands again, and the oil that is coming from them. But before getting there what I wanted […]

Will the battery in my hybrid keep going?

With gas prices still relatively high, more and more people are considering hybrid cars. But some readers are wondering how long the batteries in a hybrid vehicle will last. …The battery pack in a hybrid vehicle contains hundreds of cells. Unlike the lead-acid battery under the hood of a conventional gas-powered vehicle, these cells contain […]

Feds relent, will hold offshore drilling hearing in Florida

TALLAHASSEE, Fla. – A federal agency developing a plan for oil and natural gas drilling off Florida’s shores will hold a public hearing in Tallahassee next month after initially snubbing the state. The Minerals Management Service, part of the Interior Department, is holding a series of meetings on its next five-year Outer Continental Shelf leasing […]

ECUADOR: Oil output below pre-strike level

PetroEcuador, Ecuador’s state oil producer, said output is at 165,000 barrels a day, 18 percent below normal, as the company works to repair damage caused during a strike last week. Oil production should reach 190,000 barrels a day by the end of this week, PetroEcuador spokesman Eduardo Naranjo said Monday in a telephone interview from […]

Nigeria shuts in total 556,000 bpd oil output

ABUJA – Nigeria has shut in a total of 556,000 barrels per day (bpd) of crude production, Nigeria’s top oil official said on Tuesday, revising upwards by 100,000 bpd the total shut in by militant attacks since February 18. Royal Dutch Shell had previously said it had shut a total of 455,000 bpd, but Edmund […]

Senate may tighten laws on oil firms

Lawmakers to meet today with oil chiefs, who will attempt to justify their $118 billion in profits for 2005 Legislation that would respond to recent record oil company profits by tightening up antitrust laws for the petroleum industry will be the subject of a hearing today by the Senate Judiciary Committee. The hearing will give […]

Gov’t: No energy crisis in South Africa

CAPE TOWN – South Africa’s government denied on Tuesday that it was facing a national energy crisis and refuted reports that recent power outages will harm investment and cut economic growth. “There is not a national energy crisis, there is a tight reserve margin which we are addressing,” Public Enterprises Minister Alec Erwin told parliament. […]

Alliance plan to fire enthusiasm for gas

A new alliance between government and industry aims to make natural gas the main source of energy in Australia and ensure the nation gets its share of the booming export market for liquefied natural gas. The federal Resources Minister, Ian Macfarlane, will announce the alliance at a conference in Perth today, organised by the Australian […]

Southwest raises fares, citing higher fuel prices

… “For us, it’s all about fuel, fuel and fuel,” said Southwest spokesman Ed Stewart. The carrier’s jet fuel bill is expected to be as much as $600 million higher this year than in 2005. That’s more than its total profit last year of $548 million. Southwest enjoys protections from high jet fuel prices. By […]

Gas prices hit all-time high as fears of energy crisis grow

Gas prices in the UK surged to a record high yesterday as chilly weather sent demand soaring, reviving fears that Britain could face an energy crisis. The market was hit by the closure of the UK’s largest gas storage site and a strike by French gas workers that cut supplies from the mainland. Wholesale gas […]

The Day The Oil Stops

“Get America off its addiction to oil.” We hear this often. Even President George W. Bush has entered the game, talking about fuel from wood chips. Swell. The problem is that we don’t see much happening, and we don’t seem to be worried. Look at our automobiles: V-8 engines are grabbing a bigger chunk of […]

Nigeria: Power Outages

There is a general pall of darkness across the nation. A major energy crisis, the worst in recent years, has broken out. And authorities of Power Holding Company of Nigeria (PHCN) have said, pointedly, that there is no immediate end in sight. In explaining why there is epileptic, sometimes non-existent, power supply across the nation […]

Climate change ‘irreversible’ as Arctic sea ice fails to re-form

Sea ice in the Arctic has failed to re-form for the second consecutive winter, raising fears that global warming may have tipped the polar regions in to irreversible climate change far sooner than predicted. Satellite measurements of the area of the Arctic covered by sea ice show that for every month this winter, the ice […]

Arab central banks move assets out of dollar

Middle Eastern anger over the decision by the US to block a Dubai company from buying five of its ports hit the dollar yesterday as a number of central banks said they were considering switching reserves into euros. The United Arab Emirates, which includes Dubai, said it was looking to move one-tenth of its dollar […]

US urged to work with China on energy

The US must expand international co-ordination of energy issues, especially with China and India, to address concerns about growing global competition for energy resources, the chairman of the Senate foreign relations committee said on Monday. In a speech in Washington, Dick Lugar, the influential Republican senator, warned: “No one who is honestly assessing the decline […]

China stakes its Middle East claim

Two regions have emerged as the most likely sources of great-power conflict in the 21st century. The first is the Middle East, which is the focal point for the US-led “war on terror”. The region is important both as part of a global ideological struggle against Islamist extremism and in the quest for oil and […]

Bush’s bad-faith energy policy

President George W Bush has an uncanny ability not to see the big message. For years, it has become increasingly clear that much is amiss with his energy policy. Scripted by the oil industry, even members of his own party referred to an earlier energy Bill as one that “left no lobbyist behind.” While praising […]

KAZAKHSTAN HAS ”HUGE PLAN” TO EXPAND ENERGY LINKS WITH CHINA

In a wide-ranging interview, Kazakhstan’s foreign minister, Kasymzhomart Tokaev, said the Central Asian nation was negotiating with China on an expansion of energy links between the two nations. He also revealed that US President George W. Bush is planning to visit Kazakhstan this year. In addition, Tokaev, who spoke with a EurasiaNet writer during a […]

Russia gets no consensus on path to energy security

Russia’s drive to tackle global energy security produced ideas from nuclear power to clean fuels at a conference on Monday but agreement on one point only: we’re all going to use a lot more energy in the future… Sergei Kiriyenko, head of Russia’s Atomic Energy Agency, which plans to build 40 new nuclear plants in […]

Burst oil pipeline causes ‘catastrophe’ in Alaska

A burst pipeline in Alaska’s North Slope has caused the Arctic region’s worst oil spill, spreading more than 250,000 gallons of crude oil over an area used by caribou herds and prompting environmentalists again to question the Bush administration’s drive for more oil exploration there. The leak was first spotted by a British Petroleum worker […]

China to take small steps towards oil price liberalization – analysts

China will likely take a step-by-step approach towards liberalizing domestic prices for oil and oil products following this year’s National People’s Congress which is to due to conclude today, analysts said. China’s policymakers must balance the needs of its rural poor who would be hurt by any increase in prices for oil products, with the […]

TOD-NYC: Urban Renewal: Getting Cars Out of the City Center

Despite some lip service against the evils of Robert Moses type highway building, public policy has focused on facilitating as many automobiles into the central business districts as technically possible. Great sums of money and planning effort are still spent on trying to allieviate traffic congestion, only to find that once one bottleneck is “fixed” […]

Sharp Rise in CO2 Levels Recorded

US climate scientists have recorded a significant rise in the concentration of carbon dioxide in the atmosphere, pushing it to a new record level. BBC News has learned the latest data shows CO2 levels now stand at 381 parts per million (ppm) – 100ppm above the pre-industrial average. The research indicates that 2005 saw one […]

Ethanol Producers Encouraged By New Study

Ethanol supporters say they’re encouraged by the results of a recent study refuting the notion that it takes more energy to produce ethanol than the corn-based fuel saves. Scientists at the University of California-Berkeley say there’s a 20 percent net energy gain by using fossil fuels to make ethanol compared to gasoline. Forbes

Fox: Deep-Water Oil Find May Top Cantarell

Mexico has made a deep-water oil discovery in the Gulf of Mexico that could be larger than the country’s giant Cantarell offshore field, President Vicente Fox said on Monday. The oil find is under 950 meters (3,117 feet) of water and a further 4,000 meters (13,120 feet) underground, Fox said in an interview with Dow […]

IMF Warns of Economic Pain from Bird Flu Pandemic

A deadly bird flu pandemic will likely cause significant harm to the global economy with widespread disruptions in work places, trade and payment systems and could prompt a surge in demand for cash, the International Monetary Fund warned on Monday… It said commodity prices could decline amid weaker aggregate demand and warned there may be […]

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