Beating the post-oil drum

THE “PEAK oil” debate is populated by a cult of nuts who are easy to dismiss. But with oil prices over $70 a barrel, with no Katrina and no coup in Saudi Arabia, it starts to look plausible. “Peak oil” refers to the point after which the world’s oil supply begins to decline permanently toward […]

Most Americans aren’t likely to make big cuts in gasoline use

Americans are unlikely to slice their gasoline use despite high fuel prices Combined with surveys showing that our interest in fuel efficiency rises and falls with gasoline prices instead of being an ever-increasing concern, it’s reasonable to say that the USA won’t slow its fuel use, at least not for a long time. “In many […]

Alitalia’s loss increased due to high fuel costs

ITALY- The Italian airline Alitalia sunk deeper into the red numbers in the first quarter of the year. The results before tax were minus 157 milion euro (US$ 200 million in the red), compared to a loss of 141 million euro (180 M$) in the same period last year. The company also announced a drop […]

Wells show there’s life left in North Sea

The number of wells drilled on new projects in the North Sea reached a six-year high in 2005, with some significant finds providing evidence of the potential of the province, according to sector specialists. ..With oil and gas firms making or progressing discoveries containing more than 700 million barrels oil equivalent, Jim Hannon, co-founder of […]

Power crisis due to fund shortage

The state minister for power of Bangla Desh claimed that lack of fund is responsible for the country’s dismal power situation. He also strongly rejected all allegations of corruption that is said to be the main reason for the government’s failure to improve the situation. Yesterday at a press briefing in the conference room of […]

Energy dependence and supply in Central and Eastern Europe

In this article, economist MiklEuractiv

Piebalgs: ”EU needs ‘quantum leap’ in use of renewable energy”

Europe should lead the new global energy agenda and take a “quantum leap in the production of renewable and low carbon energy”, according to EU energy commissioner Piebalgs. .. A growing demand-supply gap and the EU’s increasing dependency on imported energy sources are the commissoner’s first concerns. “The world is now consuming two barrels of […]

Nigeria: Fuel Scarcity Hits Abuja, Lagos, Others

Motorists in the Federal Capital Territory, Abuja and its environs were confronted with another bout of fuel scarcity over the weekend as vehicular queues recoiled back to the fuel stations. The queues started manifesting on Friday in Abuja metropolis and satellite towns. Though the it cause of the current scarcity was not immediately known, the […]

Uganda: Frequent Power Cuts Push Food Prices Up

Escalating electricity and fuel prices, coupled with persistent food crisis in the region, have pushed commodity prices up, The New Vision weekly survey has shown. The survey done in the city’s major markets showed that the effects of power and fuel price increment, had drastically affected the pricing of essential commodities as transporters and manufacturers […]

Ethiopia: Trouble Brewing in Country’s Gas Fields

A rebel group has threatened that civil war would occur if the Ethiopian government does not remove troops that it has placed in the Calub and Hilala gas fields in order to safeguard the area for international investors. On Sunday, a rebel movement called the Ogaden National Liberation Front (ONLF) said that “thousands of Ethiopian […]

The latest science on global warming is pessimistic

The 17th Annual Global Warming Conference, hosted by Global Warming International Center (GWIC), was held during April 19 to 21 in Miami, Florida. A number of distinguished scientists and policy makers presented their most recent research on the current state of global warming. The presentations and panel discussions covered a wide range of topics that […]

Chadians Struggle Despite Oil Wealth

Three years ago, Chad joined a handful of African nations as an oil exporter. Today, it exports around 170,000 barrels a day and has, so far, received around $400 million in oil revenues. The World Bank estimates that the new income will boost Chad’s annual budget by 40 to 50 percent during the next 25 […]

Oil experts: Expand reserve exploration

Oil and energy experts gathered in Jordan have insisted that developing technology could increase oil and gas reserves worldwide. “We believe that technology can push back the limits of ultimate oil reserves to a significant extent,” Olivier Appert, president of the Institut Francais du Petrole (IPF), told the Eighth Arab Energy Conference on Monday.IBN Live

Saudi Aramco Aims to Boost Reserves by 25%

Gulfnews.com – Saudi Arabia is “quadrupling” exploration activities to boost its oil reserves by 25 per cent by 2025, a Saudi Aramco official said yesterday. Aramco, the state oil firm of the world’s top exporter, has 260 billion barrels of proven oil reserves and a sustainable production capacity of 10.8 million barrels per day (bpd), […]

Russian Oil Bourse to Debut in ‘06, Official Says

The Moscow Times – A senior economic official said Monday that Russia would have a domestic petroleum exchange — an idea backed by President Vladimir Putin last week — up and running by year’s end, but experts doubted whether oil would trade internationally in rubles anytime soon. Deputy Economic Development and Trade Minister Kirill Androsov, […]

NERC Expects Tighter Electricity Supplies This Summer

Today the North American Electric Reliability Council (NERC) released its 2006 Summer Assessment. The report provides an assessment of the reliability and adequacy of the bulk electric system in North America for the period of June 2006 through September 2006. “Electricity supplies will be tighter than last summer across much of North America, especially in […]

U.S. Bans Weapon Sales to Venezuela

MSNBC.com – The United States is imposing a ban on weapons sales to Venezuela because of what it claims is a lack of support by President Hugo ChavezMSNBC.com

Norway Would If They Could

Mobjectivist – Any wonder that Norway should consider going the green route outlined by scandihoovian neighbor Sweden? Someone at peakoil.com recently posted updated Norway oil production data. The fact that Norway, along with the UK, release this information to the public, shows a lot of candor on their part. Commendable, yes, but it still appears […]

New Life for the Old Still: DIY Ethanol

TULLAHOMA, Tenn. (AP) – The still _ standard equipment of any moonshiner _ has a shot at becoming the must-have accessory of penny-pinching motorists. An upstart Tennessee business is marketing stills that can be set up as private distilleries making ethanol _ 190 proof grain alcohol _ out of fermented starchy crops such as corn, […]

Saudi Oil Min: World Oil Demand Reaching 100M B/D by 2015

Schlumberger – Saudi Arabian Oil Minister Ali Naimi predicted Sunday that world crude oil demand will reach 100 million barrels a day by 2015. That would represent an increase of about 29% from the current global consumption of around 85 million barrels a day, as estimated by the International Energy Agency.Schlumberger

Venezuelan President To Visit Algeria, Libya

05/15 (LWN) Venezuelan President Hugo Chavez is to visit the North African nations of Algeria and Libya this week, both of which Venezuela has strong friendly relations with. Like Venezuela, Algeria and Libya possess large quantities of oil and natural gas. Both nations have expressed support for Chavez in the past, and Chavez has met […]

Potholes in the road to the future

Everybody wants cleaner, more economical cars but nobody can agree on what they will look like. NEW YORK (FORTUNE) – Angry motorists, frightened politicians and three-dollar-a-gallon gasoline are stirring new interest in alternative kinds of vehicular transportation that don’t weigh two-and-a-half tons and get 13 miles to the gallon. In other words, it’s car of […]

Soaring fuel prices cloud boating season

Experts forecast slower traffic Eric Pfeifer has changed his boating life because of rising gas prices. Last year, he canceled a trip to the East Coast. He’s even stopped eating lunch. Well, he stopped eating lunch in Lexington where he used to travel the 20 to 25 miles by boat. Those days are over, said […]

High fuel prices push Metro rail ridership to all-time high

PHILIPPINES – Rising fuel prices may be pushing more and more commuters to rely on the mass transport system to get to work instead of driving their own cars, according to the latest data from the Metro Rail Transit Corp. The trend was especially evident on the MRT Line-3 During the first quarter of the […]

Governor talks conservation at UM

MISSOULA — Gov. Brian Schweitzer had a challenge for the 1,600 graduates attending the University of Montana commencement ceremonies this past weekend. “You’ve got to make conservation cool,” he said in a speech that earned him a standing ovation. Faced with a growing energy crisis, graduates will have to change their lifestyles to search for […]

Protest against frequent power outages in Pakistan

KARACHI: People of the metropolis started protests against power frequent power shutdown in some localities of Karachi. Violence broke out in Liaquatabad on Wednesday night, as hundreds of residents took to streets, burnt tyres and blocked the main road in protest against hours long power failure in their locality. Power supply had been suspended in […]

Record oil and metals prices raise inflation concerns

With oil prices trading above $70 a barrel and metals trading at record levels, there are growing concerns on the outlook for inflation, the main theme for this week’s data releases. Analysts at JP Morgan point out that the cumulative increase in real crude prices since 2002 is close to that of the oil shocks […]

Oil Wealth Colors the U.S. Push for Democracy

The White House Makes Overtures In Asia and Africa …Bush said he talked about the “wave of democracy” with a leader who had recently overseen parliamentary elections that human rights advocates had criticized as deeply flawed. But Bush also lauded “the vision of the president in helping this world achieve what we all want, which […]

Peak Oil will change our lives

Last week, I attended a conference on Peak Oil in Washington, D.C. With about 250 others, I heard that the world is probably reaching the top of petroleum production right now. This would mean a future of ever declining supplies and rising prices. It was scary. But there was also a strong message of hope. […]

Halliburton’s meeting move draws fire

Critics claim giant convening in small Okla. city to hide from shareholders DUNCAN, Okla. – Halliburton earned a record $2.4 billion last year, but Houston executives will forgo Texas-sized luxury when they come to this rural Oklahoma county seat this week. Shareholders, who have gathered for the company’s annual meeting since 2003 at Houston’s lavish […]

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