Iraq set to negotiate oilfield contracts with world majors

Iraq is ready to move swiftly in negotiating multi-billion-dollar oilfield contracts with international majors and can sign deals before an investment law is passed by the government, a top oil official said on Friday. Iraq’s oil minister was set to meet with officials from oil companies gathered in Doha for the International Energy Forum, a […]

The Oil Industry Is Running Away With Our Future

Here’s what we should do to stop being exploited: yahoo

Planet Earth, Year 2050

While it may not be a verifiable fact that the Millennium Ecosystem Assessment (MA) is the world’s most underappreciated eco-study, it’s definitely the most unevenly appreciated one. When the huge report first emerged last spring after four years, $24 million and the efforts of more than 1,300 scientists in 95 countries, it made headlines elsewhere. […]

Peak Oil Passnotes: It’s All About OPEC Stupid, Not

Next week we will see the 10th meeting of the International Energy Forum (IEF) in Doha. It is another one of those interminable political groupings that gets together now and again to tell us how good/bad it all is. Of course you can tell what the main topic of conversation will be, $70-plus oil. In […]

Libya Will Hit 2 Million b/d Capacity Before 2010

Production of sought-after, low-sulfur crude oil from Libya will climb by almost a fifth within the next four years, the country’s new head of oil policy said Friday. Shokri Ghanem, until recently Libya’s prime minister, but now chief executive of its National Oil Co. (NOI.YY), said: “Libya has much potential in terms of discovering and […]

UK’s Ecological Debt Day Was April 16

The New Economics Foundation, based in the UK, has published a report called the “ecological debt day calendar” (.pdf). The calendar shows the date in a typical calendar year that a country would have used up all of their natural resources had they relied solely on themselves. As consumption increases, the ecological debt day decreases. […]

Oil Company Profits Driving Up Gasoline Prices

The Foundation for Taxpayer and Consumer Rights funded an investigation into why gasoline prices have increased lately. Their conclusion is that corporate markups and profiteering are responsible for spring price spikes, not rising crude costs or the national switchover to higher-cost ethanol, as the oil industry claim. The study used California as an example and […]

ifenergy.com

Canada’s Energy Future: Here’s some key points as paraphrased out of the report: Most of Canada’s energy needs will be fulfilled with fossil fuels until 2025 and probably after. Canada and US energy economies are closely tied so any shift in energy supply/demand patterns would imply a bi-national shift. The three main factors driving energy […]

Syngenta to Introduce High-Amylase Corn Seed in US for Easier Ethanol Production

Shanghai Daily. Syngenta AG, the worldgreencarcongress

Why the world is not about to run out of oil

But is the world really starting to run out of oil? And would hitting a global peak of production necessarily spell economic ruin? Both questions are arguable. Despite today’s obsession with the idea of energybulletin

Gas Prices Soar Past $3; Will it be $4 by Memorial Day?

From the White House to the State Capitol, politicians appear powerless to stop gas prices from marching on past $3 to a possible $4 by Memorial Day the time that gas prices run up fast to fleece consumers planning to hit the road for summer vacations. If hikes keep marching in double-time, $4 -a-gallon might […]

Bush Seemingly Resigned to High Gas Prices

As oil prices hit a record, drivers worried about $3-a-gallon gas and politicians feared the impact on elections, President Bush on Friday acknowledged the pain but seemed resigned to being able to do little about it. “I know the folks here are suffering at the gas pump,” the president said while promoting his competitiveness initiative […]

G7 Raises Pressure on Suppliers as Oil Tops $75

Finance ministers and central bank governors from the Group of Seven leading economies raised the pressure on oil producers to increase supplies after oil hit a new record of over $75 a barrel in New York on Friday. They called for further steps from producers to increase the transparency of their reserves and raise investment […]

Japanese Gasoline Sales in FY05 Drop for 1st Time in 21 Years

The Nihon Keizai Shimbun reports that gasoline sales in Japan in fiscal year 2005 dropped for the first time in 21 years on factors such as surging prices and more fuel-efficient cars. Gasoline sales had previously fallen just twice since 1950: in 1974, during the first global oil crisis, and then in 1984, when record […]

DoD Broadens Energy Efficiency Focus

Pentagon leaders may broaden their efforts to improve energy conservation and efficiency beyond their traditional emphasis on savings at installations to also focus on weapon systems. At the same time, Rep. Roscoe Bartlett (R-MD), who is concerned about a long-term decline in oil production and also chairs a House Armed Services Committee panel, is pressing […]

‘RealMoney’ Radio Recap: Oil Slick

“It’s the petroleum equivalent to bird flu. The $3 mark has been broken [for gasoline] in the continental U.S.,” Jim Cramer told his “RealMoney” radio show listeners Friday. “Like it or not, say hello to $3 a gallon … get ready for $4,” he said. Cramer said that these prices are due to more than […]

Time To Be Bold When It Comes To Oil

ISeguin Gazette-Enterprise

US Won’t Ask OPEC to Pump More Crude Oil

U.S. Energy Secretary Sam Bodman said he will not ask the OPEC cartel to produce more oil when he attends talks between major global crude oil producers and consuming nations this weekend, even though oil and gasoline prices are soaring. High energy prices will be on the agenda this weekend at the International Energy Forum […]

Oil breaks through record $75

Continued fears over Iran and Nigerian supplies, reports of gasoline shortage in the U.S. lead to 2 percent jump. NEW YORK – Oil smashed through record highs Friday, cruising past $75 a barrel on continued fears of a supply disruptions in Iran and Nigeria and reports of spot gas shortages on the U.S. East Coast. […]

High crude oil prices could be here to stay

Strong global economy continues to strain limits of production capacity Oil prices continued to march higher this week, briefly hitting record levels Thursday before easing slightly. And with the global economy demanding more oil every day to fuel rapid growth, and oil producers struggling to expand supplies, the upward pressure on prices shows no signs […]

Simmons: imminent oil shortages possible

IRELAND – Stark warnings of job losses were made yesterday as international oil prices reached another record high, breaching the $74 ( …In Limerick yesterday, an industry expert warned there may be further crude price rises on the way. Speaking at a conference in the University of Limerick yesterday, Mathew Simmons, an investment banker and […]

Oil production peak: we may already be there

Are you familiar with the theory of peak oil? We all know fossil fuels can’t last forever, but Ed Blume with RENEW Wisconsin and the Madison Peak Oil Group says many experts believe we’re a lot closer to the production peak than you might imagine. “The point is, we will get to the peak,” said […]

Changing our habits could ease peak oil problems

Only a year or two ago, we were told that if crude oil reached $40 per barrel, the country would face economic difficulties. By April 12 crude oil futures were just a few cents short of $70 per barrel. Oil has been in the range of $60 per barrel for a long time now; its […]

The Long Emergency – James Howard Kunstler

This book, “The Long Emergency: Surviving the Converging Catastrophes of the 21st Century” by James Howard Kunstler [Atlantic Monthly Press (2005) ISBN 0-87113-888-3] is depressing. Nonetheless it should be in the background of every thinking, questioning, concerned citizen of the 21st century. The principal themes are several: Virtually everything in our present economy requires, is […]

Motorists could face the prospect of paying Another expert, Professor Austin Darragh, University of Limerick, said some predictions would suggest that oil could cost as much as

Is this beginning of end for oil?

I stepped outdoors on one of the beautiful spring days this week and took a close look at all the trees in my yard. I …I think I am finally beginning to worry deeply about something I have worried about vaguely for the last 30 years: the possibility that we soon won

Oil Drillers Hit a Profit Gusher

Demand for drilling rigs has led to record-setting day rates — and they’re still on the rise With oil prices hitting new highs and natural-gas prices staying at historically lofty levels, oil and gas producers, faced with declining output from mature fields, are ramping up capital spending to replace reserves. On Apr. 20, crude oil […]

Equipment failure part of reason for gas shortage

“Keep it full, because it Repairs quickly followed, but disruptions in the gasoline supply rippled almost immediately through Hampton Roads. Shortages continued Thursday, keeping motorists guessing about where to find gas. Some stations that were out of supplies Wednesday were replenished Thursday, while others waited for deliveries with no clear idea of when they would […]

Paris asks for weekly publication of EU oil stock

French Energy Minister Francois Loos asked the European Union (EU) Commission on Thursday to publish the oil stocks of all EU countries weekly, not monthly, in order to reduce the pressure on prices. “We need to show that oil production is sufficient in relation to consumption,” Loos told journalists, adding “that will dissuade speculators from […]

Global warming is threatening Bangladesh’s coast. But..

the area’s tens of millions of residents don’t want to move. There are no movie theaters in this remote village in southwestern Bangladesh, not far from the Indian border, and few families own a television. So theater, popular across South Asia, is a favorite entertainment. But the catchy tunes and high drama of this particular […]

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