Saudis See Peak Oil Within 2 Decades

FuturePundit thinks he ought to join the peak oil pessimist camp. The Saudis do not think the oil producers can keep up with growing oil demand from China, the United States, and other developing and developed countries. But demand for the world’s premiere source of energy is rising so fast _ by around 2 million […]

MPs to reject new nuclear generators (UK)

Tony Blair’s hopes of approval for a new generation of nuclear power stations face a major setback from the influential Commons environmental committee, which he set up in 1997 to emphasise New Labour’s green credentials. Following a series of hearings closely watched by Downing Street, the all-party Environmental Audit Committee will conclude that new nuclear […]

Wind farm ban baffles. (Australia)

CLIMATE change from fossil fuels pose a greater threat to orange-bellied parrots than wind farms, says Roaring Forties chief executive Mark Kelleher.Mr Kelleher was responding to news that a Victorian wind farm has been blocked by the Federal Government because of its impact on the rare and threatened bird.

Saudis urge oil conservation

The world

Japanese poised for gas move

JAPANESE oil giant Inpex is said to be close to pushing the button on an $8 billion gas development off Western Australia in a bid to shore up supplies of highly the sought-after resource.The company owns 100 per cent of the Ichthys field, about 440km north of Broome in the Browse Basin, which is estimated […]

Cleaner, pricier fuel is coming

Amid predictions of another active hurricane season, analysts say there’s additional reason to worry that fuel prices will spike to near $3 per gallon.The U.S. Environmental Protection Agency is expected to require refiners nationwide to switch their pollution-reducing additive blends and demand for the new additive could push up pump prices as soon as this […]

Natural gas closes at 10-month low

Natural-gas futures closed Friday at their lowest level since May, scoring a decline of more than 6% for week as lofty U.S. inventory levels helped put a damper on prices for a second-straight session. Crude-oil futures also fell, reflecting expectations that key oil producers won’t cut production when they meet in June as well as […]

‘Concerted push’ made to expand offshore drilling

The oil and gas industries are intensifying their effort to open more U.S. coastal areas to drilling, with a powerful assist from businesses ranging from chemical makers to corn growers. Numerous bills have been introduced in Congress to lift or ease the federal ban on new offshore drilling that covers California and other areas. Meanwhile, […]

An energy-hungry India looks to its own bounty

Indian Energy Minister Murli Deora doesn’t mind admitting that his country has been a laggard when it comes to embracing some of the energy industry’s more cutting-edge methods Chron.com

Bolivarian revolution advances with seizure of oil fields

What happens in a real revolution? Nothing could be simpler: power and property are taken away from the privileged few in order to distribute to the people the wealth the exploiters once hogged. Venezuela has once again confirmed that it is on the road of revolution. It has moved to gain more control over oil, […]

Gas pains

A rising tide may lift all boats, but rising gasoline prices sink all budgets. From fishing boat owners, to their crews, to Councils on Aging, to Meals on Wheels, to car dealers, the steady click upwards of the price of gasoline spares no one.“By this point in the year we expected to spend 67 percent […]

Kuwait to invite bids for $6bn oil refinery

International companies including Washington Group International Inc, Stone & Webster and Technip will be invited this month to bid for four contracts worth as much as $6bn to build a new refinery in Kuwait.Hyundai Heavy Industries, Foster Wheeler Ltd, and GS Engineering & Construction Corp are among the 12 companies that will be invited to […]

EU and Asian finance ministers talk energy

European and Asian countries — the world’s largest energy importers — can learn from each other to tackle the problems of a tight energy supply, Austrian Chancellor Wolfgang Schuessel said at the start of two-day talks between EU and Asian finance ministers… The Asia-Europe meeting in Vienna is scheduled to discuss the world economic situation […]

As oil flows, Angola’s poor left out of ”New Life”

A queue of homeless people stands outside Angola’s parliament waiting to hand in individual petitions — a rare scene of political protest in this tightly controlled oil-rich country. Former residents of slums on the outskirts of the capital Luanda, their makeshift homes were razed to make way for an extension of an upscale state-sponsored housing […]

Russia keeps blending politics in its oil mix

From Usinsk, light, high-quality oil from the Timan-Pechora basin is pumped into a maze of state-run pipelines stretching far to the Russian south, where it is blended with inferior heavy crude oil shipments from other regions and sold in Europe at a price less than its unblended value. The Ural blend crude that flows out […]

Storage: the next generation

Why build a new power plant when the technology exists to store excess megawatts until needed? Ontario is moving ahead with a natural-gas-fired generator on the Portlands, with plans to start building this summer. Local opposition is growing louder. Meanwhile, engineer Greg Allen of Sustainable EDGE Ltd., a Toronto engineering and design firm, has been […]

A new gas war looms, with Belarus the loser

The Kremlin prepared a truly original gift for the inauguration of President Aleksandr Lukashenko of Belarus, whom many in the West call “the last dictator in Europe.” Gazprom, the Russian energy behemoth, set a deadline of April 30 for Lukashenko to either forgo a strategic Belarussian gas asset or start buying Russian gas at market […]

Summer fuel shortages, spikes possible: Bodman

BATAVIA, IL – U.S. consumers may face gasoline shortages or price hikes at the pump this summer due to fuel additive changes at refineries and a likely strong hurricane season, the U.S. Energy Secretary said on Friday. “We face a combination of factors that could mean some localized shortages,” Samuel Bodman said in an interview […]

Texas natural gas field vital to U.S. supply

Fast-growing Barnett Shale reservoir a template for fields nationwide PONDER, Texas – From atop a 40-foot-high walkway on a towering natural gas rig, Doug Hampton scans the grassy scrubland that has served ranchers since the 19th century. He doesn

Perfect storm brewing

Conditions are right for gasoline to surpass $3 a gallon. If you thought gasoline prices were bad last summer, think again. A wide array of market forces may well form the perfect storm, zapping consumers across the country with sky-high costs each time they fill up. “It’s gonna be one hot summer at the pump,” […]

Oil prices edge closer to $100-a-barrel

An expanding global economy fed by the insatiable hydrocarbon consumption of industrialised countries as well as Asia’s fast growing economies is witnessing a sustained and rising demand for oil. With production capacities of petroleum exporters increasingly being questioned many are openly predicting a three figure barrel price. The margin of spare production capacity is already […]

Consumers must work with oil powers to tackle crisis

World oil powers are the first line of defense to combat an energy crisis, but consumer nations, led by the International Energy Agency must develop a new role as their allies, experts say. Set up in the 1970s as a counterweight to OPEC, then at the height of its influence, the IEA now considers itself […]

Is a global currency crisis looming?

According to Robin Rew, however, who is chief economist at the London-based Economist Intelligence Unit (a subsidiary of The Economist, BritainJang

Leading scientists attack Blair over nuclear power

TONY Blair sundayherald

Oil Doom and Gloom

His basic point is that the reserves really are there, wetimworstall.

Iraq discovers oil in Kurdistan

IRAQ has announced the discovery of oil reserves in the mountainous Kurdish region of Zakho, close to its border with Turkey. “We have discovered oil at Zakho, 470km north of Baghdad,” announced Iraq’s deputy oil minister Motassam Akram. news.com

Battle begins for Russia

RUSSIAN gas giant Gazprom will this week begin deciding which of five international oil companies will win the right to take part in the largest single gas project of the next decade thebusinessonline

There IS a problem with global warming… it stopped in 1998

For many years now, human-caused climate change has been viewed as a large and urgent problem. In truth, however, the biggest part of the problem is neither environmental nor scientific, but a self-created political fiasco. Consider the simple fact, drawn from the official temperature records of the Climate Research Unit at the University of East […]

Economy on `Solid Track,’ Inflation Still Under Control

The U.S. economy has plenty of room to add jobs without stretching the workforce and fueling inflation, St. Louis Federal Reserve Bank President William Poole said yesterday. The U.S. economy added 211,000 jobs in March and 590,000 in the first three months of 2006, the strongest first-quarter gain in six years, the Labor Department said […]

OPEC Pres: Output Cut is Unlikely This Year

OPEC President Edmund Daukoru said Friday that it was highly unlikely that the oil-producer group would cut its output this year, given the prevailing prices and global political backdrop. OPEC says it has 2 million b/d of spare oil capacity, though in its latest monthly oil report the International Energy Agency said usable spare capacity […]

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