Oil Field Research Center to Benefit Kingdom: Al-Naimi

A state-of-the-art oil field research center, described as the first of its kind in the Middle East and Africa, was opened by Minister of Petroleum & Mineral Resources Ali Al-Naimi here yesterday. This is the first research center to open at the King Abdullah Science Park of King Fahd University of Petroleum and Minerals (KFUPM). […]

Navy Ship Collides with Tanker in Gulf

A U.S. Navy destroyer collided with an oil tanker in the Persian Gulf off Iraq, slightly injuring four people, the Navy said Sunday. The USS McCampbell collided with the tanker late Saturday about 30 miles southeast of the Iraqi coastline. Two sailors and two crewmembers of the tanker were treated for minor injuries at the […]

Gas Tax on Miles, Not Gallons, Tested

Oregon is testing the idea of collecting highway funds through a tax on miles driven, rather than gasoline consumed. Eighty percent of Oregon’s highway money comes from its 24-cents-per-gallon gas tax. If the state promotes reducing gasoline consumption and consumers tend to buy the fuel-efficient vehicles, including hybrids, highway revenues would take a hit, The […]

In Nigeria, things fall apart

When President Olusegun Obasanjo of Nigeria visits Washington this week, he will probably be lauded for his crucial role as a regional African leader. During his seven years in power, Obasanjo helped end Liberia’s civil war and refused to accept a coup in Togo. He was instrumental in making sure that the African Union did […]

Search for oil in Gulf heats up

TAHITI RESERVOIR, Gulf of Mexico Beneath them, beneath the seabed, lay oil. A lot of it, enough to produce 125, 000 barrels per day, according to Chevron Corp. estimates. To reach it, the ship needed to punch a well more than 26, 000 feet

‘Gold rush’ for biofuel plants beginning upstate

Quest for clean energy gains momentum NEW YORK – If every day is a learning experience, then Jason Masters knows how to pay attention to the lessons that matter most. The native of Livonia, Livingston County, was a greenhouse gas scientist working in the Middle East in the 1990s when he had several chances to […]

Iraq’s power output hits new low

U.S. Corps toils to buttress system to meet summer’s exploding demand BAGHDAD, IRAQ – Electricity output has dipped to its lowest point in three years in Iraq, where the desert sun is rising toward another broiling summer and U.S. engineers are winding down their rebuilding of the crippled power grid. The Iraqis, in fact, may […]

Briton takes on Putin over oil pipeline

The promises of Vladimir Putin to Chinese leaders in Beijing last week flowed as thick and fast as the oil he wants to deliver to them. There were agreements on aerospace and gas exploration, plans for joint refineries and warm pledges of a “strategic partnership” in world affairs. Yet, even as the People’s Daily, the […]

Car wars: The green 4×4 is the car of the future. But..

The car of the future is here already. The technology exists to build an affordable, mass-market green car that runs on cleaner, more efficient fuel and does not help to destroy the environment like its gas-guzzling rivals. We want to drive it, or so the opinion polls say. There is no scientific reason why it […]

`Energy diplomacy’ could offer diplomatic relief

Faced with the ominous rise of China, Taiwan might consider developing its “energy diplomacy” with oil-producing countries in Africa and the Middle East in a bid to counter Beijing’s implacable diplomatic strategy, political observers said yesterday. Under China’s relentless diplomatic suppression of Taiwan, dubbed the “three guang” strategy (三光政策), analysts are worried that Beijing may […]

The Right Touch

Quick, name a leader whose every word can roil or calm the markets from Tokyo to Wall Street. Now that U.S. central bank boss Alan Greenspan is retired, and his successor is still settling in, that description may best apply to Saudi Oil Minister Ali Naimi, who has in fact been described as the Greenspan […]

Energy refugee fleeing $100-a-barrel oil

Around the time of the first oil shock in 1973, columnist Art Buchwald penned a satirical column about what life without cheap oil would be like in the 1990s. One day, a father and son go out for their first drive in weeks because fuel costs $8.50 a gallon. “I feel like a steak,” says […]

Iraq emerges as new

Wittingly or unwittingly, markets are witnessing the emergence of a new dawn

The most dangerous WMD of them all

A BELEAGUERED president stubbornly insists on staying the course even as his staunchest allies abandon him. I’m not talking about Iraq, but global warming. Here’s a case where virtually everybody is acknowledging a weapon of mass destruction chron

Chevron and Exxon strike it big in Africa

US giants Chevron and Exxon Mobil have made an African oil discovery that could hold more than a billion barrels worth of oil and gas. The find promises to be one of the largest finds this year, potentially opening up a new province off the shore of the West African island state of Sthebusinessonline

Coal Corn Ethanol Plants Seen As Emerging Trend

Long time readers know I’m not a fan of biomass energy. Well, here’s yet another reason to be underwhelmed by the prospect of corn ethanol. Can you say “Defeating the purpose”? Sure! Late last year in Goldfield, Iowa, a refinery began pumping out a stream of ethanol, which supporters call the clean, renewable fuel of […]

The Game Plan on Iran is becoming clearer

The Anglo-Americans want a Security Council resolution allowing for the eventual use of force. Iran must play its cards very carefully from now onwards. THIS WEEK, the fog of Anglo-American diplomacy on the Iranian nuclear question parted momentarily to give the world a rare glimpse of the drive to war that lies behind. On Wednesday, […]

Tides Turning

A new book predicts that climate change is likely to be abrupt and cataclysmicmsnbc

Sweet energy path for Brazil

If there were any doubt about ethanol’s mainstream role as an alternative fuel in Brazil, it was wiped away this year. “If we don’t have serious problems, if things develop normally, by 2010 we are going to produce more than double the ethanol that we produce now,” said Biagi, who also advises Brazilian President Luiz […]

British biodiesel producer claims breakthrough

D1 Oils, a major British biodiesel producer with tree plantations in northeast India, has claimed a breakthrough in its bid to become a global producer of environmentally-friendly biodiesel. The company has been working for the past five years to create a global network of jatropha plantations and refineries to make biodiesel – a blend of […]

What Markets Are Telling Us About Future Energy Prices

This graph shows, for every year since 1990, what the markets’ expectation of long term oil prices, as represented by the longest date future, was. So it is actually quite remarkable how quickly the view of the market on future prices of oil has changed in the past 2 years. What the graph says is […]

Energy Refugee Fleeing $100-A-Barrel Oil

John P. is heading for Idaho with his partner, Sultry Susuun, for some low-cost Snake River electricity and a more sustainable lifestyle, more walking, less driving. Says he: “Idaho is the place to be when the Night of the Long Knives comes. Guess you could call us energy refugees.” When the talking heads on TV […]

France Leads New Push for Nuclear Power

Twenty years after the Chernobyl nuclear plant coughed a cloud of radiation over much of Europe and scared consumers and governments away from atomic power for a generation, a new crop of leaders, from North America to Europe to Asia, is thinking nuclear. One country has done perhaps the most to push back the pendulum: […]

Chavez: No plan to suspend US oil shipments

CARACAS, Venezuela (Reuters) – Venezuelan President Hugo Chavez said on Friday his government had no plan to suspend oil supplies to United States but would prefer to give priority to energy deals with Latin American neighbors. Speaking to regional central bank representatives, Chavez took a softer line after earlier harsh rhetoric and threats to cut […]

U.S. Weekly Oil, Gas Rig Count Up by 25

HOUSTON – The number of rigs actively exploring for oil and natural gas in the United States this week increased by 25 to 1,571. Of the rigs running nationwide, 1,314 were exploring for gas and 255 for oil, Houston-based Baker Hughes Inc. reported Friday. Two were listed as miscellaneous. A year ago, the rig count […]

China sets rise in retail fuel prices

BEIJING/SINGAPORE – China will raise retail diesel and gasoline prices for the first time in eight months this weekend, but the 3-5 percent increase will leave refiners in the red and do little to deter fuel demand. The modest rise, reflecting Beijing’s continued caution over reform, may send shares in listed refiners lower next week […]

Countdown to $100 oil: Running out of natural gas in North America

Okay, natural gas prices are waaay down from their highs, so all’s fine, right? It doesn’t matter than these prices are still double the highest power plant developers expected only a couple years back, they are down. Alert over. Hah! Let me show you just one new graph below the fold. This is a simple […]

Fuel prices force bus system to seek extra aid

It’s uncertain how much cities will be able to help Hampton Roads Transit with its bills. VIRGINIA – An unexpected spike in diesel prices has resulted in a projected $1.3 million shortfall for Hampton Roads Transit’s fuel budget, meaning local cities will be asked to pick up the tab. While there are no plans to […]

Carnival’s earnings down on higher energy prices

MIAMI The world’s largest cruise operator reports its first-quarter profit fell 19 percent, weighed by a spike in fuel costs. Carnival’s shares fell just over five percent in late-morning trading on the New York Stock Exchange. For the fiscal quarter ended February 28th, Miami-based Carnival reported net income of 34 cents per share, versus a […]

Turkey seeks own alternatives

With the issue of securing energy sources at the top of the international community’s agenda, European Union countries on Thursday and Friday worked to forge a common energy policy during a summit meeting in Brussels. While agreeing on the importance of having a common energy policy, EU leaders were unable to reach a consensus on […]

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