The No. 1 energy fund’s wild (but energizing) ride

…WSJ: So you think the peak could be hit in as few as three years? How would we know we’re at the peak, and what do you mean by “fall off the cliff”? Mr. Rice: The timing depends on when several of the world’s largest oil fields begin to roll over. Unfortunately, information on most […]

Fuel Costs Prompt School Closings in Tenn.

The high price of diesel fuel for school buses meant children in one Tennessee school system got a holiday Monday – their second in a row. Some 3,800 youngsters got Friday and Monday off because of the action taken by Dallas Smith, superintendent of Rhea County schools in east Tennessee, to ease transportation spending. “That […]

Bolivia Leader Orders Army to Gas Fields

President Evo Morales ordered soldiers to immediately occupy Bolivia’s natural gas fields Monday and threatened to evict foreign companies unless they sign new contracts within six months giving Bolivia majority control over the entire chain of production. ..Bolivia has South America’s second largest natural gas reserves after Venezuela, and all foreign companies must turn over […]

Schumer: Wrong on the SPR Since 1999

“In a time when the majority of Americans are turning to their elected officials to help promote clean air, safe water, and healthy neighborhoods, it is clear from his exceptional environmental score that Chuck Schumer is working to address these quality of life concerns in the Senate,” said LCV President Deb Callahan. “Senator Schumer has […]

Blood Donations for Gas Money

With the price of gas on the rise, BYU-Idaho students are finding new ways to pay for it by donating blood plasma. Plasma Centers are reporting a record amount of donors in the past few weeks and say a lot of them are there to pay for gas.KIDK 3

Economy Carries Momentum Into 2nd Quarter

The national economy carried its strong momentum into the second quarter as factories cranked up activity, builders boosted construction spending to a record high and consumers opened their pocketbooks ever wider. But inflation picked up, too… The report also showed the prices are rising not only for energy but also for other commodities, such as […]

Kuwait to Up Oil Production to 3M B/D in 10 Years

State-owned Kuwait Petroleum Corporation (KPT.YY), or KPC, plans to increase its oil production capacity to more than 3 million barrels a day over the next 10 years from around 2.5 million b/d now, the official Kuwaiti news agency, KUNA, reported Monday. The agency quoted Talal al-Sabah, managing director of the Kuwaiti Petroleum Services Co., an […]

Morales Nationalizes Natural Gas Industry

LA PAZ, Bolivia – President Evo Morales nationalized Bolivia’s natural gas industry Monday, ordering foreign energy companies to send their supplies to a state company for sales and industrialization. Speaking at the southern San Alberto gas and oil field, Morales warned that companies who rejected the decree would have to leave Bolivia. The main oil […]

Scientists Discover (Biggest Ever) Oil field off U.S. coast

Scientists from the University of Cornell have discovered a massive amount of Oil off the coast of Louisiana.The find is some 60 billion barrels or 3 Times more than current US recoverable Oil of 20 Billion barrels, and would bring US total reserves to 80 billion barrels which is on par with Venezuela. In comparison […]

ASPO Portugal publicly presented on May the 8th

Next Monday, May the 8th, the Portuguese branch of the Association for the Study of Peak Oil & Gas – ASPO will be publicly presented in The website of ASPO Portugal will be presented as well as the DVD of the IV International Conference on Oil & Gas Depletion, held in Lisbon in May of 2005. […]

Computing the commute

With gas prices up, commuters who sought more house for their money in the outer suburbs are concerned about increasing costs. Angie Rimbo and her husband were delighted to find a home of their own for $146,000 in Monticello, which is halfway between the Twin Cities and St. Cloud. It meant a long drive to […]

Three quarters ‘back climate law’

Three quarters of the UK population would support a new law aimed at combating climate change, according to a survey by Friends of the Earth. Some 1,233 people were asked if they would back a law requiring annual reductions in UK CO2 emissions. While 75% said they would, 5% said they would not, with 19% […]

Power firms could make a Peter Bedson, from IPA Consulting, confirmed to the BBC that the unwarranted profit could reach

A gusher of comment about oil prices

‘Flow of oil and money’ It seems that President Bush and the Republicans have finally decided to give lip service to the issue of gas prices. Not that anyone believes that they are actually concerned; it is just that their poll numbers have dropped so low that they’re worried about losing all the nice perks […]

Who Wins and Loses When Gas Prices Skyrocket?

The G.O.P. faces voter wrath, consumers suffer, and Big Oil hits a gusher. A guide to the pain and gain It’s not every day that Karl Rove gets a lesson in politics. But the President’s ace strategist was brought up sharply at a recent White House meeting with a group of Republican congressional-staff chiefs when […]

Gas prices got you down? Take these steps

Q: Help! I am facing a near revolt in my small office due to rising gas prices. I have a crew of independent salespeople who have, traditionally, covered a large territory (a few counties each) and paid for their own gas out of commissions. They now want me to pay for this expense, but I […]

Californians can ease energy crisis by enlightening world

Amid the energy crisis, state sets an example BERKELEY They also retooled the electricity market so power companies spent money helping people use less energy. Utilities were investing in selling less electricity, but they did not have to build 16 power plants andwere guaranteed payback on what they did build or buy. The state’s economy […]

Bolten: No

Top Bush aide says nation must reduce its dependence on foreign oil WASHINGTON – President Bush Administration officials, on the Sunday talk shows, drove home the importance of reducing U.S. consumption of foreign oil. Secretary of State Condoleezza Rice called it a

Oil leaps a dollar on Italy refinery fire

LONDON – Oil climbed more than a dollar on Monday after a refinery fire in Italy added to fears Iran’s defiant pursuit of its nuclear program and violence in Nigeria will lead to a global fuel shortage. IPE Brent crude futures stood 66 cents higher at $72.68 by 1111 GMT. Earlier they had risen more […]

Oil Companies Won’t Fish

Washington, D.C. – As Americans start hitting the open road this summer and high gas prices creep even higher, the oil industry will draw an increasing amount of fire from critics who claim it should be doing more to increase supply. Already, President George W. Bush, himself a former oilman, has lamented that the oil […]

Population, Resources, and Human Idealism

By Richard Heinberg I’m not about to give up on humanitarianism. But there is an essential lesson here. If we want peace, democracy, and human rights, we must work to create the ecological condition essential for these things to exist: i.e., a stable human population at—or slightly less than—the environment’s long-term carrying capacity. This is […]

Japan Joins the Race for Uranium Amid Global Expansion of Nuclear Power

Energy-hungry Japan is revving up its drive to secure uranium abroad as global demand for nuclear power rises amid stubbornly high oil and gas prices and growing environmental concerns. Major Japanese trading and energy firms are looking at multibillion yen investments in uranium mine projects, with electronics conglomerate Toshiba in February purchasing Westinghouse, the US […]

Three Reasons Not to Bomb Iran

I know of no reputable expert in the United States or in Europe who trusts the constantly repeated promise of IranEdward N. Luttwak is senior adviser at the Center for Strategic and International Studies in Washington, D.C. and the author most recently of Strategy: The Logic of War and Peace (Harvard University Press). commentarymagazine

Iran to establish intl. energy bourse

Iran will establish an international energy bourse company in the near future. The Islamic Republic plans to open its own oil exchange, the Iranian Oil Bourse (IOB), the company mehrnews

Oil prices allow Rosneft to cut float size

Rosneft, the Russian oil giant, has halved the amount it plans to raise when it floats on the London and Moscow stock markets this summer, after the recent renewed surge in crude oil prices helped to bolster its financial position. The state-owned mining and exploration group now plans to raise between $8bn (The Independent

Nigeria: New Pipeline a ‘Recipe for Disaster’, Locals Say

Local communities in Nigeria are taking the World Bank before an internal auditor over claims that the lender neglected its duties and anti-poverty mission when it funded a controversial gas pipeline in the region, whose construction they say will harm the environment and area residents. Twelve Nigerian communities said Thursday they were filing the complaint […]

UN acknowledges climate change

A United Nations panel on climate change has noted for the first time the likelihood that global warming resulting from human activities is causing heat waves and other abnormal weather phenomena as well as Arctic ice mass loss. “It’s very likely that greenhouse gas forcing has been the dominant cause of the observed warming of […]

Anger rises in oil-rich Chad as funds don’t aid the poor

Three years after Chad began exporting its oil with assistance from the World Bank, few people outside the capital have access to electricity, running water, paved roads, and health clinics. Public schools are nonexistent. Life expectancy is 46 years for men, and only slightly longer for women. The thwarted hopes of many have turned to […]

Cuba and Oil: It Gets Worse…..

You’ll recall that Fidel Castro can drill 45 miles off the US coast, when we cannot. You’ll recall further that he’s also going to work with China to let them tap the same reserves, while we look on helplessly with oil hitting $3/gallon. Finally, remember that Sen. Bill Nelson (D-FL) provided the rebuttal to the […]

Oil from Africa comes with political instability

A new Bank of America report shows Africa provided more oil to the U.S. market in 2005 than the Middle East. The Bank of America report warns that Africa suffers from political instability that also has raised U.S. concerns about the reliability of supplies from the Middle East. The report says the growing reliance on […]

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