Hydrogen Business Booming

The market for industrial hydrogengreencarcongress

OPEC Output

DAWN – Opec oil output rose 140,000 barrels per day (bpd) in April to the highest monthly level this year as Iraq and Nigeria boosted exports. But the Opec members bound by formal quotas failed to pump at their 28 million barrels per day ceiling for the fourth consecutive month.DAWN

Congress Opposes Ethanol Tax Change

WASHINGTON – Farm-state lawmakers say they’re prepared to fight vigorously any attempt to remove the 54-cent tariff on imported ethanol even though demand for the additive is growing as refiners use more of it in gasoline. President Bush made clear his desire to boost ethanol supplies Yahoo.

Russian Media Warn of New Cold War

MOSCOW – Russian media on Friday described Vice President Dick Cheney’s harsh criticism of Russia and President Vladimir Putin as the start of a new Cold War. Cheney’s words Thursday at a conference in Lithuania drew a comparison to Winston Churchill’s famed “Iron Curtain” speech and reflected the deepening distrust between Washington and a newly […]

Has oil production peaked?

Herrera: Statistics point to peak production; prices likely to go higher It

Peak Oil Discomforts – Losing Hot Water, Computer, Car, Electricity…

By Shepherd Bliss – My hot water heater recently sprang a leak. So I dumped it. Inconvenient, but not a big dealEnergyBulletin.net

OTC: Varied Perspectives Taken on Alternative Energy

Oil & Gas Journal – Representatives of several segments of the energy industry approached alternative energy from various perspectives during an Offshore Technology Conference panel discussion May 4. Ahmed Hashmi, BP PLC vice-president, group technology, said the question about oil and gas is not whether production has peaked but that it will. And the world, […]

Bush: Drop US ethanol import tariff

Congress should drop US ethanol import tariff to help ease gas crunch, says president. WASHINGTON (Reuters) – Congress should drop a tariff on fuel ethanol imports from countries like Brazil if it wants to alleviate gasoline shortages, President Bush said Friday. “Dropping a tariff will enable the foreign export of ethanol into our markets which […]

US oil consumption could easily be halved until 2031

Bipartisan Senate Bill Targets Reducing Oil Consumption, Increasing EfficiencyAmong the most important provisions of the bill will be an emphasis on an expanded plan for economy-wide oil savings that will cut oil use, from projected levels, by 2.5 million barrels of oil per day by 2016, 7 million barrels of oil per day by 2026, […]

U.S. oil guzzling keeps enriching our worst enemies

Free-market purists are getting a lot of mileage out of scoffing at the hysteria about rising oil prices. From a strictly economic point of view, they’ve got a point. Even with crude selling at $70 a barrel and gasoline at $3 a gallon, the U.S. economy continues to expand. It grew at a healthy annualized […]

High oil prices not good for Saudi, US, says Al-Naimi

Record crude oil prices above $70 per barrel are not in the interest of the world’s largest producer or its largest consumer, Saudi Arabia Oil Minister Ali Al-Naimi said yesterday.“Prices at these levels are not in the interest of either Saudi Arabia or the US,” Naimi said in prepared remarks at a joint appearance with […]

Africa ‘coping’ with oil prices

The International Monetary Fund says African countries – even those that are not oil producers – are dealing better with the current rising price of oil than they did during similar price hikes in previous years. “We have had no requests for additional finance, to cope with the oil increases,” Sanjeev Gupta, Assistant Director of […]

The Coming Decline of Oil

When production turns downward, it will be a seismic economic
event, creating a world unlike any we have known during our lifetimes.
Indeed, when historians write about this period in history, they may well
distinguish between before peak oil (BPO) and after peak oil (APO).

Earth Policy Insitute

Analysts Skeptical of Iran Oil Plan

BusinessWeek – Iran took a step on Friday toward establishing an oil market denominated in euros, a plan analysts described as highly unlikely to materialize but which in theory could have serious consequences for the U.S. economy. Iranian state-run television said the country’s oil ministry granted a license for the euro-denominated market, an idea first […]

Hurricanes May Send Energy Costs to New Highs

NEW YORK (Reuters) – Energy costs could hit new highs if hurricanes pound production and refining centers again this summer as supply and infrastructure problems make the industry more vulnerable to disruptions, analysts said. Forecasts of another strong hurricane system come as companies are still struggling to overcome the effects of a chain of storms […]

The End of Aviation is Closing In, Energy Consultant Says

Canada – Hamilton should re-think its economic strategy that ties itself with a dying industry, says an energy consultant. “It would be foolish to commit to an enterprise that depends on air freight,” said Richard Gilbert, a consultant for the Paris-based Organization for Economic Cooperation and Development. “The beginning of the end of the aviation […]

The Fix for High Gas Prices That Congress Won’t Touch

Analysis: Conservation is one of the few things that would actually help drive down prices at the pump. Too bad most politicians are scared to utter the word   Members of Congress have been scrambling lately to tell Americans that there are no quick and easy fixes to high gas prices. “There is not a […]

Why You Should Worry About Big Oil

Beyond the fat profits, the giants are surprisingly vulnerable worldwide. That’s bad news for business — and consumers You’d think the Apr. 26 oil summit in Qatar would have been an occasion for the industry to celebrate. The world’s top energy executives were there, and they could all point to record profits and record demand. […]

Russia: Squeezing its neighbors

Should Europeans worry about their growing dependence on Russian energy? For a not very reassuring answer, they need only look to Georgia. It’s a case study in intimidation. Vladimir Putin was feeling indignant. Why don’t Europeans trust Russia? “I constantly hear complaints” that Europe is “overly dependent” on Russian energy, he griped last week to […]

Maryland Congressman Continues Peak Oil Warnings

SYNOPSIS: Official transcript of Special Order Number 17 testimony in U.S. House of Representatives May 2, 2006 The SPEAKER pro tempore (Ms. Foxx). Under the Speaker’s announced policy of January 4, 2005, the gentleman from Maryland (Mr. Bartlett) is recognized for half of the time remaining before midnight. Mr. BARTLETT of Maryland. Madam Speaker, I […]

The camels are coming, the camels are coming

CANADA – At a recent meeting of the Social Planning Council a participant at one of the discussion tables raised the subject of “Peak Oil”. Two of the eight people at the table had no idea what it meant. Basically, Peak Oil is the end of cheap fuel, when we have used more than half […]

Congressional Leaders Promote Conference on ”Peak Oil and the Environment”

WASHINGTON, DC. — Congressmen Roscoe Bartlett (R-MD) and Tom Udall (D-NM) urged immediate action to reduce America’s dependence upon oil and address climate change while endorsing an upcoming conference sponsored by the University of Maryland, Sustainable Energy Forum 2006: Peak Oil and the Environment. The bi-partisan leaders of the Congressional Peak Oil caucus, along with […]

The Supply-Side Cure to the Energy Crisis

Liberals and regulations caused it . . . conservatives and the free market can fix it. Liberals say oil companies are responsible for today Years ago, the American Left won a continuing moratorium on development of new natural-gas supplies, which caused the price of gas for home heating to soar along with the price of […]

Higher Fuel Prices Hurting Law Enforcement Agencies

Police departments, especially those serving smaller cities and towns, are beginning to feel the economic pinch of the recent hike in gas prices. For instance, the Memphis Police Department reports that it is already $1.2 million over its gasoline budget for 2006. The higher gas and fuel prices are beginning to wreak havoc within America […]

17 Reasons for Energy Prices’ Peak

1. Noncommercial longs (speculators) are at an all-time high; commercial longs have been selling. 2. The put/call on oil recently hit 0.25. 3. Energy is all over numerous magazine covers. 4. U.S. demand for oil fell more than 2% in March, according to the American Petroleum Institute, even as economic growth boomed. 5. The Energy […]

Cheney Visits Kazakhstan to Talk Oil

ASTANA, Kazakhstan – Vice President Dick Cheney traveled to Kazakhstan on Friday for talks with President Nursultan Nazarbayev, seeking to maximize access to the vast oil and gas reserves in the central Asian nation with a troubled human-rights record. Cheney became the fourth top administration official to visit the former Soviet republic in recent months, […]

Shell says reserves may slip more

Royal Dutch Shell, struggling to replace its aging oil and gas fields, said Thursday that new developments may fail to keep pace with production for the next three years, signaling its reserves may fall further. Projects may be delayed because of short supplies of materials and rising prices for contractors and services, Chief Executive Officer […]

Looming Energy Crisis

We vividly remember the devastating effects a drastic oil price hike brought on Korean economy with two “oil shocks” in the 1970s. But, they were mainly caused by production cuts of the oil producing nations. The present situation is quite different. The present price rise is coming from rising demand for oil, especially from China, […]

U.S. mulls ending ethanol import tariffs

Administration hoping to alleviate supply crunch ahead of driving season WASHINGTON – The Bush Administration is considering lifting import tariffs on ethanol in a bid to alleviate any supply crunch of gasoline ahead of the peak summer demand driving season, Energy Secretary Samuel Bodman said Thursday. “It’s something the administration has considered and will continue […]

EU Should Consider Windfall Tax on Oil Companies, Juncker Says

European finance ministers should consider imposing a windfall tax on oil companies benefiting from record prices that are cutting consumers’ purchasing power, Luxembourg Prime Minister Jean-Claude Juncker said. The price of oil has jumped 43 percent in the past year, reaching a record $75.35 last month. That’s pushing up fuel bills for consumers throughout Europe […]

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