Venezuela Suggests Control of Oil Projects

CARACAS, Venezuela (AP) – Venezuela’s congress, dominated by supporters of President Hugo Chavez, released a report Thursday recommending the state assume majority control of key heavy oil projects run by companies like Chevron Corp. and Exxon Mobil Corp. in its oil-rich Orinoco River basin. Such a move, which Chavez has yet to publicly endorse, would […]

Albany Coddles the Oil Addicts

The President has said that we are “addicted to oil”. An addiction needs to be treated seriously, not actively enabled. But this is exactly what NY State’s legislature wants to do. They are set to approve a 4-9 cent reduction in the gas tax in yet another attempt for politicians to look like they are […]

A Peek at Peak Oil

Hour.ca – We have grown up with the idea that there will always be enough, in some instances more, though deep down we know nothing lasts forever. That is the message of Peak Oil: We are close to the point where the increase in available oil will halt, and after that forever decline. That will […]

OPEC 4Wk Exports +520,000 B/D To May 27 – Oil Movements

NASDAQ – The Organization of Petroleum Exporting Countries seaborne crude oil exports are expected to rise by 520,000 barrels a day in the four weeks to May 27 compared with the previous four-week period, leading tanker tracker Oil Movements said Thursday. Oil Movements head Roy Mason said the incremental rise to 24.78 million b/d from […]

Top Economists, Russia

European energy consumers face further big rises in gas prices in the coming years because of acute shortages of Russian supplies and growing tensions between the Kremlin and EU, senior economists and a former Russian premier said Wednesday. Eric Berglof, chief economist at the European Bank for Reconstruction and Development, told MEPs and senior EU […]

Silicon Valley VC Backs Biofuel

On the search for alternative fuels, Silicon Valley entrepreneur Vinod Khosla says the answer is clear as gin. Delivering the keynote address at a Stanford Institute for Economic Policy Research forum, titled “Prosperity Despite Expensive Oil: Energy Solutions for California, America and the World,” on April 21, Khosla endorsed ethanol technologies, which produce “biofuels” out […]

Ethanol Africa forges ahead

Ethanol Africa, South Africa’s first “green fuels” company based in the country’s maize-producing heartland around Bothaville in the Free State, is forging ahead with its plans to produce environment-friendly biofuels. The company has announced that a German firm is to build its first bioethanol plant, it has already ordered a patent-pending Corn Oil Extraction System […]

New Coal Technology Could Help Climate – US Expert

A Norwegian firm’s technology for cheaply removing greenhouse gas emissions from coal-fired power plants is likely to appeal to countries from China to the United States, a Massachusetts Institute of Technology professor said on Wednesday. Sargas, a privately-owned Norwegian group which cooperates with Germany’s Siemens AG, said its technology can clean more than 90 percent […]

Commentary: Computers and Energy Depletion

(LWN) – Although computers have a largely beneficial role in society, it cannot be denied that a massive amount of energy resources are being consumed to manufacture, transport, and power them. With world oil supplies beginning to decline, wastefulness such as this should be reconsidered. One major way in which computers use energy is that […]

2 Oil Workers Are Kidnapped in Nigeria

LAGOS, Nigeria – Gunmen kidnapped at least two foreign oil workers from a bus Thursday in a southern Nigeria city, police said. The foreign nationals were riding to work in the central oil-industry city of Port Harcourt when they were abducted, a senior police official said by telephone from the city. The official spoke on […]

Mayors Sound Alarm on Rising Fuel Costs

WASHINGTON, (U.S. Newswire) — With record-level gas prices and rising fuel costs in America, The United States Conference of Mayors (USCM), led by Conference President Long Beach Mayor Beverly O’Neill and Chicago Mayor Richard M. Daley, hosted an urgent National Summit on Energy and the Environment on May 10 to 11 in Chicago to sound […]

Consumers slam on the brakes as fuel prices zoom

NEW DELHI: Rising fuel prices is finally taking its toll on the consumers In the survey done by market research company, AC Neislon, car pooling and sharing trips with friends or relatives are not too popular a means for economising as only 10% globally considered it an option.

Danny Williams – One Scary Poker Player

CANADA – With what I’m about to say, I’m sure someone will accuse me of being a true blue Tory and on top of that I hate praising a sitting politician, but I’ll be damned if I won’t say what needs to be said about Newfoundland and Labrador Premier Danny Williams after his recent performance. […]

The Little Guys of the Oil Business

Meet the “marginal producers.” With the stream of alarming news coming from Iran, Iraq, and Nigeria, media reports of turmoil in places like Chad and Ecuador often go unnoticed. But in an exceptionally tight energy market, political uncertainty in some of the world’s largest energy-exporting states gives new importance to the so-called marginal producers: countries […]

The High Costs of Cheap Gas and Vice Versa

…Starting in the early 1990’s, Americans got to enjoy a decade of the lowest gasoline costs in the nation’s history. As Daniel Yergin, the author of a Pulitzer Prize-winning history of oil, says about those years, “Gasoline was truly one of the great bargains of the Western world.” And, boy, did the country take full […]

Less than meets the eye in Bolivia’s oil drama

Nationalization worries are mostly overstated LA PAZ, Bolivia This is simply the way democracy sometimes works. Oil and gas nationalization has been the main political issue in Bolivia for the last several years. Morales, an Aymara Indian farmer, won a landslide victory in December on a promise to nationalize the gas industry. Now he’s delivering […]

Pondering suburban alternatives

CANADA – I attended the screening of the thought-provoking film “The End of Suburbia” at the Isabelle Reader Theatre on Wednesday May 3. The film explores the effects we may expect as the supply of readily available oil and natural gas is depleted. The interviews with authorities Matthew Simmons, CEO of Simmons and Co. the […]

As Oil Prices Go Up, Companies Struggle to Contain Their Costs

When Hawaiian Electric Co. submitted a rate plan to regulators last fall, it included a worst-case scenario in which oil prices would start at $70 a barrel and escalate over time to $119 a barrel. Today, the worst-case scenario has come true for current prices. “When we did the scenario at the $70 range, it […]

Think $2.90 for Gasoline Is High? Try $5.17

(CNSNews.com) – A conservative market analyst on Wednesday said that the current national average of $2.90 for a gallon of gas isn’t hurting American families any more than the 29 cents per gallon that gas cost more than 50 years ago. Adjusted for inflation, a gallon of gasoline would have cost about $1.76 per gallon […]

T&G threatens Easyjet pay strike

The Transport & General Workers’ Union (T&G) will ballot 1,500 Easyjet cabin crew about whether to take strike action at the budget airline over pay. Easyjet has offered a wage increase of 3.5% in the first year of the deal, with a guaranteed bonus of 2%. Andy Harrison, Easyjet’s chief executive, said the deal was […]

Do Good By Doing Bad

A new program allows gas-guzzlers to atone for their carbon dioxide transgressions for a small fee. What if we could offset our other indulgences, too? Leaders of the Ford Motor Company, we salute you. Thanks to the automaker’s recently unveiled Greener Miles program, we can all look forward to buying and driving a new generation […]

High petrol prices force motorists to join the club instead

U.K. – Record petrol prices are prompting drivers to give up owning their own cars and join car clubs to cut their motoring costs. More than 1,000 people joined Britain Streetcar charges

Why You’re not Getting the MPG You Expect

Be skeptical of EPA ratings. The EPA sticker can help you evaluate relative gas mileage among vehicles, but not absolute mpg. Until the EPA ratings are made more realistic, discount the EPA sticker numbers for city travel as follows: conventional cars and trucks, 30 percent; larger hybrids, 35 percent; diesels, 36 percent; smaller hybrids, 42 percent.

MSN

US scientists reject Bush scepticism over global warming

An American government report on climate change has undermined a key claim of Bush administration hard-liners and sceptics who have long disputed a link between carbon emissions and global warming. The study by the federal Climate Change Science Programme concluded that the atmosphere was growing warmer and that there was “clear evidence of human influences”. […]

U.N. calls for greater energy efficiency

U.N. Secretary-General Kofi Annan has called for a greater focus on energy efficiency, increased investment in renewable energy sources and new technologies. “We need a revolution in energy efficiency,” he said at the start of the three-day Commission on Sustainable Development in New York Wednesday. “Conventional power stations waste 65 percent of the energy they […]

Big powers and the great energy game in Central Asia

A century ago, the British Empire and Tsarist Russia used spies, gold and proxy armies to control the emirate of Afghanistan in the fabled “Great Game” of the Raj. With the collapse of the USSR, Afghanistan and Central Asia are now new epicentre of incendiary ethnic wars, great power intrigues and despotic warlords. The Great […]

Japan: Consumers feeling high cost of crude oil

..To save money, some customers buy gasoline 10 liters at a time or choose not to have their vehicles washed at gas stations…In March, Japan Airlines and All Nippon Airways applied for a special fuel surcharge for international flight rates…One out of four truck companies has included the rise in diesel costs in its fees, […]

Thai Cabinet approves energy-saving measures

Thai cabinet gave green lights to a pack of energy-saving measures in a bid to reduce financial losses in the state sector caused by rising energy costs, local media reported on Wednesday. The package of 15 measures allow government officials of some agencies and certain responsibilities to work from home as long as their work […]

Oil and the Middle East: Vague Aspirations

There is a prevailing feeling in the region that high oil prices are beneficial for producing countries. Of course, the public, officials and oil experts have yet to arrive at any concept of what a reasonable price level should be. Is it $40 per barrel, the prevailing idea from two years ago, or $50 a […]

Crop Shortages Could Curb European Biofuel Growth

Shortages of suitable nationally grown crops could slow European moves to replace contaminating transport fuel with clean-burning, plant-based alternatives, industry sources said at a conference on Wednesday. About half the EU’s members have already adopted the European Commission target of replacing 5.75 percent of transport fuel with biofuel alternatives by 2010. In many countries regular […]

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