Great Pipeline Game Intensifies in C. Eurasia

A series of the latest gas and oil deals appear to indicate that the great pipeline game in Central Eurasia has reached its nadir. As Russian President Vladimir Putin traveled to China last month for talks with President Hu Jintao, Moscow came up with new pledges to raise oil and gas exports to China. However, […]

Sustainability Author Says Energy Shortage Will Continue

In a recent interview, John Howe, a mechanical engineer and organic farming advocate, noted that we are living with the dangerous assumption that because oil has seemed to be increasingly plentiful during the past 100 years, it will continue to be so in the future. Mr. Howe is one of over 54 speakers from across […]

Venezuela Oil Firm Cuts SEC Ties

Venezuela’s state oil firm has said it will no longer disclose information to US financial regulators after paying off debts in the US. PDVSA said it was no longer obliged to be regulated by the Securities and Exchange Commission (SEC) after buying up $83m in US-traded bonds.BBC

Japan Eyes Coal-to-Liquid Scheme for China

Japan plans to help Chinese companies liquefy coal in an effort to satisfy the soaring demand for energy in China. An official of Japan’s New Energy and Industrial Technology Development Organization (NEITDO) said it is more economical to try the technology in China than in Japan, which has fewer available mines.Oil & Gas Journal

Soundwaves May Help Increase Future Oil Production

Low frequency sound waves may in future be used to recover leftover oil from oil wells on the Norwegian continental shelf, reports said Thursday. Oil is currently extracted by pumping sea water down into one well to replace oil pumped up to the surface of another well. Initially, mostly oil is pumped to the surface, […]

OPEC Exports +30,000 B/D In 4 Weeks To Apr 29 -Consultant

Seaborne crude oil shipments by the Organization of Petroleum Exporting Countries are expected to rise by a marginal 30,000 barrels a day in the four weeks to April 29 compared with the average of the previous four weeks, a leading tanker tracker said Thursday. U.K.-based Oil Movements forecasts OPEC’s shipments will increase to 24.71 million […]

The Oil Drum: They see it here and there, they see that Gazprom everywhere…

One of the major hopes for natural gas supplies over the next decade has to be Russia. Yet, as noted in a couple of earlier posts, questions about long-term supplies from Gazprom are not easily laid to rest. Consider one of the headlines in today’s Moscow Times which suggests that selecting partners for the Shtokman […]

MF: High Oil Prices Are Worsening Global Trade Imbalances

Rising oil prices have magnified global trade imbalances, making the world economy more vulnerable to financial turmoil and higher inflation, the International Monetary Fund said Thursday. In a portion of its latest World Economic Outlook published Thursday, the IMF again tries to understand the puzzle of how the U.S. continues to finance massive and growing […]

Who’s to blame for high gas prices?

Politicians propose legislation that would increase regulatory scrutiny of Big Oil — but fail to mention that voters could maybe give up the giant SUVs. LONDON – Spring is not even a month old but it’s already promising to be a long hot summer for American drivers. Gasoline prices are surging toward highs not seen […]

An empowering idea

Where does your electricity come from? You may think it comes from a dam on the Columbia or some other big river. Or from a coal or nuclear-power plant somewhere. For people living a little east of Arlington, electricity may come from Kevin Duncan’s small dam and water turbine. For those living in Lynnwood near […]

Farmers Feel Effects of High Fuel Costs

McCRORY, ARKANSAS – The escalating cost of gasoline has everyone feeling the pinch at the pump, especially the farming community. The average price of gas has gone up about 41 cents since this time last year. Ninety-percent of east Arkansas’ industry is farming — mostly rice or soybeans. However, third generation farmer, Tom Gaines says […]

Looming energy crisis? Perhaps the solution is right under our feet

Ron Tolmie is convinced he found the future in the past. The long-time employee of Atomic Energy of Canada Ltd. had moved into a farmhouse on the outskirts of Ottawa, an old stone structure that was cool in summer and freezing in winter, and he began to think about ways in which he might warm […]

Africa and the oil price trap

The rapid rise in oil prices over the last two years is unquestionably the biggest problem facing the international economy, more particularly those that can least afford them

Satan in the driver’s seat

Every Good Friday since 2004, I remember the crucifixion by watching Mel Gibson Today, most politicians tout their pro-growth economic policies. Can you imagine a politician running for office on a no-growth economic plan? Of course you can

Forf

IRELAND – Congratulations to Forf Each year without major new discoveries strengthens the Malthusians’ case. It’s now widely accepted that non-OPEC oil is already close to peak. Africa and the Caspian were supposed to diversify us away from Opec. Yet for all the stockbrokers’ hype, it’s now over two years since a significant African discovery. […]

Some Peak Oil Humor….

Texas Oil Buffoon Pumping 8,000 Barrels Of Oil Into Ground Every Day ODESSA, TX Known far and wide as “the biggest oil buffoon in Texas,” T. Ludlow Banks earned his unmatched reputation by doing things his way. He pioneered the practice of cutting in as many middlemen as possible. At a time when others were […]

Natural light to reinvent bulbs

A natural light source that could put the traditional light bulb in the shade has been invented by US scientists. The organic light-emitting diode (OLED) emits a brilliant white light when attached to an electricity supply. The material, described in the journal Nature, can be printed in wafer thin sheets that could transform walls, ceilings […]

Brazil bustling to meet ethanol demand

Brazil is setting the world standard for ethanol fuel use, moving ever closer to energy self-sufficiency at a time when sugar prices are soaring due to an increased demand for an alternative to costly fossil fuels… However recent spikes in global sugar prices have once again threatened the ethanol trade. Demand has outweighed supply of […]

British farmers determined to supply green fuels

In a report submitted to the DTI today (Thursday) the NFU is calling for positive encouragement from Government to ensure more renewable energy is sourced straight from UK farms. The organisation is urging ministers to take advantage of crop supplies, such as wheat and sugar beet, to make renewable biofuels. In the report, the NFU […]

China, Russia energy deals may not materialize

Energy agreements between Chinese and Russian interests hold potential for both countries, but may not be realized in the end, Standard and Poor’s Ratings Services said. ‘While pipeline agreements signal closer ties between the two countries, they do not resolve China’s energy crisis and questions remain over Russia’s level of commitment,’ the agency said in […]

Will America Face an Oil Crisis Soon?

Some believe that the world as we have known it is about to change. Congressman Roscoe Bartlett (R-MD) is talking about what he thinks could be the biggest challenge in our nation’s history. “The world has never faced a problem like this,” Bartlett said.CBN

Oil companies not running from Venezuela

Venezuelan President Hugo Chavez has rattled oil markets with tough anti-capitalist talk, higher royalties and oil field takeovers, but petroleum companies operating in the world’s fifth-largest crude exporter are hardly running scared. With crude prices soaring and oil reserves growing scarcer, the South American nation is still an attractive proposition for top petroleum operators even […]

Americans Will Buy SUVs Even if Gas Hits Four Dollars a Gallon: Ford

A core group of US consumers will continue to buy large sports utility vehicles (SUVs) even if gasoline prices rise to four dollars a gallon and stay that way, a senior executive at the Ford Motor Company said. “There is a certain portion of the marketplace and customers who want that flexibility that is provided […]

Iran Could Produce Nuclear Bomb in 16 Days, U.S. Says

Iran, defying United Nations Security Council demands to halt its nuclear program, may be capable of making a nuclear bomb within 16 days, a U.S. State Department official said. Iran will move to “industrial scale” uranium enrichment involving 54,000 centrifuges at its Natanz plant, the Associated Press quoted deputy nuclear chief Mohammad Saeedi as telling […]

IEA: World Oil Demand In ‘04, ‘05 Higher Than Expected

The International Energy Agency Wednesday trimmed its global oil demand growth prediction for this year and said there was increasing evidence that surging petroleum product prices were crimping demand. The energy security watchdog for the 26-member Organization for Economic Cooperation and Development also said in it latest monthly oil market report that ‘astonishing’ growth in […]

Energy Bills Most Worrying – Report (UK)

Rising household energy bills are becoming a bigger source of worry than personal health, according to recent research. More than three-quarters (77%) of 2,000 people surveyed feared they would not be able to afford to pay for gas and electricity in the future.The Daily Mail

The Peak Oil Crisis: It’s Time to Start Planning

Let’s start with the completely obvious. We are no longer living in the 19th century. Seventy percent of Americans no longer live on farms as they did when the first oil well was drilled (it now is more like 2-3 percent). Very few have transportation pastured behind the house. Nor do many have a chicken […]

US Shortfall Sends Oil Price Soaring

Oil prices are on the verge of a new record after a report revealed a large drop in US petrol stockpiles before the start of the summer driving season. The US Energy Information Administration said stocks of “distillate”, which includes diesel and heating oil, slipped by 4.2 million barrels, far surpassing expectations of a 1.4 […]

$3 gasoline means changing lifestyles

Consumers cut other spending to compensate As consumers brace for gas prices of $3 a gallon, their behavior patterns are changing in subtle yet broad ways, experts say. “I use to go to the hairdresser every two weeks. Now I try to stretch it to three or four weeks,” said Barbara Alvarez of the Town […]

The Oil Drum: Peak Oil, Inflation or Deflation?

I’m very interested in the whole “inflation versus deflation” peak-oil argument. I started thinking it was clear that peak oil would be inflationary, but I’m getting less sure. I don’t understand the deflationist case in enough quantitative detail yet to really assess it, but I’m working on it. Let’s start with the case that the […]

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