Sysco’s Third-Quarter Profit Declines on Higher Fuel Expenses

Sysco Corp., North America’s largest distributor of food to restaurants, said fiscal third-quarter profit fell 14 percent on higher fuel and stock options expenses. Net income dropped to $188.5 million, or 30 cents a share, from $218.2 million, or 34 cents, Houston-based Sysco said today in a statement. Revenue climbed 9.4 percent to $8.14 billion. […]

Oil prices too high, geopolitics to blame – Saudi’s Naimi

Saudi Arabian Oil Minister Ali al-Naimi said on Monday current oil prices are “too high” but that neither producing or consuming countries were to blame. “These prices are too high,” Naimi said, adding the recent run-up in prices had been caused by global geopolitics and hedge fund speculation. US oil prices hit record levels of […]

‘We’ve got 2 trillion barrels of the stuff left’

Sylvia Pfeifer finds that the doomsayers who have been predicting that we’ll soon be running out of oil are far too pessimistic When Jeroen van der Veer, the chief executive of Royal Dutch Shell, unveils a strategy update this Thursday, investors will want to know one thing: is Shell finding more oil? With oil at […]

Axis Of Idiocy

Energy: Bolivia’s new president has moved to nationalize his country’s oil and gas industry, becoming the latest Latin American nation to do so. Bad for Latin Americans? Of course. But bad for the U.S., too. South America’s major oil producers are key suppliers to the U.S., and nationalization of their crude supplies will lead to […]

NPR.org – Experts Ponder Peak of Global Oil Production

Morning Edition, May 2, 2006 – Six years into the 21st century, the United States and the world remain heavily dependent on the fuel that powered the last 100 years: oil. President Bush has gone so far as to call that dependence an “addiction.” With crude-oil prices hovering at or above $70 a barrel, more […]

Pipeline in the pipeline?

Israel and Turkey have teamed up to explore the feasibility of laying four parallel pipelines beneath the eastern Mediterranean Sea, from Ceyhan to Haifa, capable of bringing crude oil, natural gas, electricity and water to the heart of the Middle East. The burgeoning economy of India has created a growing need for crude oil which […]

Uganda: How Power Cuts Affect the National Mood

Uganda is in the grip of the most serious energy crisis since independence and many years before that. The crisis has now come down to the street level and we see it daily, everywhere. You might have noticed a few places around Kampala, checked into a supermarket, observed the mood on the street. Weekdays are […]

Sakhalin weighs environmental cost of Shell project

Residents of Sakhalin, historically one of Russia’s poorest regions, had great hopes for Shell’s giant oil and gas project, the biggest undertaken by the Anglo-Dutch oil major. However, some people on the island north of Japan now fear the environmental costs of the $20 billion project may leave them worse off than before. The consortium’s […]

UAE to boost oil output

The UAE will increase its oil production capacity up to 3.5 million barrels per day within next five year, said Energy Minister Mohammed bin Dha’en Al Hamili… Hamili estimated that by 2020 world oil requirement would rise by another 23 million barrel per day or 28 per cent to around 106 mbpd from the average […]

Hydrogen fuel far from ready for prime time

President Bush has pointed to hydrogen technology as the ultimate solution to the nation’s fuel supply problems, but one big question waits to be answered: Where will all the hydrogen come from? Even if manufacturers can produce affordable hydrogen-powered vehicles that people will want to buy, energy experts say the nation’s petroleum addiction — a […]

Policies planned to encourage production of bio-energy for oil

China is working on fiscal policies to encourage production of biological energy as substitutes for oil, a move experts say would help China reduce its reliance on oil and build an environmentally friendly society. Zhu Zhigang, vice-minister of finance, told Xinhua in an exclusive interview that the ministry is working on policies that will enable […]

IMF: Costly oil, high rates key risks to Asia growth

Higher oil prices, tighter global financial conditions and current account imbalances are some of the key risks to the broadly favorable outlook for growth in Asia, the International Monetary Fund said on Tuesday. Policymakers in the region have to strike a balance in forming monetary policy, which is firm enough to keep oil-induced inflation at […]

Oil: The party is over

Good. If the oil price rises gradually from 70 to 100 dollars over the next five years, people and governments will start paying serious attention to energy conservation and alternate energy sources (including nuclear energy). The sooner that happens, the less extreme the global warming we will have to contend with as the century progresses. […]

You think you’re green? Don’t make me laugh

The question is no longer whether it is possible to reverse global warming by drastically cutting carbon emissions, because even if it is, we’re not going to. Instead we have found ways to be green that do not involve the least privation, and therefore don’t do anything but present exciting marketing opportunities. Forget about your […]

Saudi Aramco Plans Steep Increase in Exploration Wells

Saudi Arabia plans to more than double the number of its exploration wells by 2011, an executive at Saudi Arabian Oil Co. (SOI.YY), or Saudi Aramco, said Monday. Aramco, which is on track to increase its capacity to 12.5 million barrels a day by 2010, plans to gradually increase its exploration from about 18 wells […]

Public health and the precautionary principle: the case of peak oil

Given that resources always are scarce, we cannot avoid what Harold Lasswell termed the heart of policy analysis: energybulletin

Texas Town To Boycott Of Exxon Mobil Over High Gas Prices

High gas prices are unquestionably painful in this small South Texas town that is at least an hour’s drive from malls and specialized medical care, but some residents are doubting the wisdom of the county board’s call for a boycott of Exxon Mobil Corp. The boycott against the world’s largest oil company will continue until […]

The Sky Isn

Well, he was right of course and I think itjsmineset

Solar Energy has a Bright Future

The recent run-up in oil prices has increased interest in alternative energy sources, especially ones that are not subject to changing political fortunes, that are renewable, and that pollute less. VOA’s Zulima Palacio reports on one source that appears endlessly renewable. If it is not, the consequences will go far beyond energy supplies. Scientists and […]

Where is the global oil shock?

With oil priced at over $70 a barrel many are asking why the impact is not as severe as the two OPEC-induced oil shocks that struck the world economy in 1973 and 1979. On an inflation adjusted basis, oil prices would have to rise above $90 to exceed the all-time highs set a quarter of […]

New wind farm planned for Tararua Ranges

Australian company Energreen Wind plans to build the second-largest wind farm in the Tararua Ranges. If approved, the 129 turbines would be spread over four properties along the Tararua foothills near Palmerston North, the Manawatu Standard reported today. nzherald

Denmark Proposes World’s First Hydrogen City

Time for some hydrogen propaganda. A group of Danish companies and institutions have released a concept for the world’s first hydrogen city, called H2PIA. From the press release (.pdf): H2PIA is a vision for a complete city, where citizens will produce the energy they need for themselves. H2PIA will show how we can develop from […]

World Oil Price Peak Disputed – Voice of America

Rising oil prices have many consumers and business people wondering how long it will be before the price of a barrel of oil or a liter of gasoline returns to “normal.” But some resource experts believe current prices are the new normality and tight supplies of petroleum are here to stay. Tom Whipple writes and […]

The Oil World’s New Bullies

But as you seethe about $3 gas now and worry about $4 gas next year, remember that big oil isn’t calling the shots anymore. Venezuela has forced ExxonMobil to slink out of the country and has made Chevron and ConocoPhillips take a 75% hike in royalties and a 50% increase in taxes and say, “Thank […]

Cape Wind developer sees ”uphill fight”

Developers of a 420-megawatt wind farm proposed off the Massachusetts coast are preparing for an “uphill fight” as Congress seeks to block construction of the offshore wind farm. Musial said U.S. coastal areas have the potential of producing 100 gigawatts of power in shallow water depths and much more in water deeper than 30 meters. […]

Ethanol isn’t the answer, Cargill’s Staley says

Warren Staley, chief executive of Cargill, says that ethanol and biodiesel will be good, profitable businesses, but that the Minnetonka company’s first priority is to be the leading global food provider. Promotion of ethanol, he said Monday, runs contrary to that goal at a time when the need for increased food production is critical. startribune

NOAA Reports Steady Increase in Greenhouse Gases in Atmosphere

The National Oceanic and Atmospheric Administration (NOAA) today issued the global Annual Greenhouse Gas Index (AGGI), its benchmark measurement of gases in the atmosphere that affect the Earthgreencarcongress

Hurricanes Destroyed 113 Petro Platforms

Hurricanes Katrina and Rita destroyed 113 petroleum production platforms in the Gulf of Mexico, a federal agency overseeing offshore drilling said Monday. The storms also damaged 457 pipelines connecting production facilities in the Gulf and bringing oil and natural gas to shore — a sharp rise from the 183 damaged pipelines identified in January, the […]

Power firms could make a BBC.

Alberta’s Heavy Oil Industry Should Pay for Huge Fresh-Water Use

The heavy oil industry should pay for the huge volumes of fresh water it uses to tap Alberta’s rich oilsands reserves, says a report by an environmental think-tank. The Pembina Institute report released Monday also calls for a moratorium on new oilsands mines until the Alberta government figures out how much fresh water the industry […]

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