Legendary Investor Likes Oil, Not Gas

MSNBC.com – Boone Pickens expects high oil prices, low natural gas prices and a pick-up in energy sector leveraged buyouts, the legendary oil investor said Friday. Pickens, who came to Calgary to mark a $2 million donation to a brain-research institute, said at a press conference he remains bullish on oil. Prices, he said, will […]

Could Asian Oil Firms’ Demand Be Overstated?

Schlumberger – Asian oil-and-gas companies are acquiring overseas assets at a slower pace than is widely assumed and may pose less of a threat to Western energy needs than many believe, according to a new report. The report, written by consultancy Wood Mackenzie and recently distributed to its clients, says Asian oil companies such as […]

The Oil Drum: Questions About the World’s Biggest Natural Gas Field

Generously, Matt Simmons and SCI have given me permission to reference their report Simmons Oil Monthly – Qatar, by Robert A. Kessler, April 24, 2006. Matt wanted me to “alert readers that SCI made a major exception to their strict rules of only sending their institutional research to their institutional clients”. My thanks to Matt […]

Wealthy nations to battle oil threat

Member nations say fighting high oil prices, other imbalances a shared responsibility. ST. PETERSBURG, Russia (Reuters) – Protecting global economic growth from high oil prices and rising inflation risks took center stage when finance ministers from the Group of Eight (G8) wealthy nations gathered in Russia’s second city on Friday. The two-day meeting in St. […]

U.S. trade deficit rises amid surging oil prices

April increase followed two months of declines WASHINGTON – The U.S. trade deficit rose in April after two months of rare declines, pushed higher by surging oil prices and a flood of imported furniture, televisions and toys from China. The gap between what the United States sells abroad and what it imports rose to $63.4 […]

Nigeria Niger Delta shut in over 800,000 barrels per day

LAGOS (MarketWatch) — A Nigerian government official said Friday that a shut-in at the country’s oil rich Niger Delta is in fact 800,000 barrels a day and higher than previously reported. Speaking at an industry event in Lagos, Tony Chukwueke, director of Nigeria’s Department of Petroleum Resources, said “as I speak to you now, Nigeria […]

Colleges go ‘green’ to stretch budgets

Environmental efforts help schools self-sustain and conserve energy NORTHFIELD, Minnesota (AP) — In the shadow of Carleton College’s majestic wind turbine, Daniel Pulver has cooked up an idea for creating even more renewable energy: turning used cafeteria oil into fuel for cars. Across the Cannon River at St. Olaf College, Dayna Burtness grows pesticide-free food […]

SABIC postpones $1.5 billion oil cracker project in Holland

SABIC Europe has decided to put the development of the cracker project on the Geleen-site (the Netherlands) on hold. The investment costs and financial risks are too high to realise a financially sound project on the Geleen site today. SABIC remains committed to its strategy of growth for the important European market. To realize this […]

China to Quadruple Amount of Nuclear Generated Eelectricity

One of China’s top planners has pledged Beijing’s commitment to a massive expansion of the country’s nuclear generation capacity over the next 15 years. This reaffirms China’s demand for substantial supplies of uranium, which the Australian Government has agreed to sell it, in a deal signed recently by John Howard and Premier Wen Jiabao in […]

Peak Oil Passnotes: Zarqawi Don’t Drive

So Zarqawi is dead, oil drops by a buck and a half and suddenly the world seems a great place again. Not. If ever there was a pointer to the underlying fundamentals of the oil and products market right now it was this one incident. Zarqawi had supposedly been the head of Al-Qaida in Iraq, […]

Long weekend’s inflated petrol prices fuel mounting anger

AUSTRALIA – Oil companies should “give motorists a break” over the long weekend by having a sale at the bowser instead of putting petrol prices up, according to Australia’s peak motoring body. Australian Automobile Association executive director Lauchlan McIntosh said petrol prices had reached record highs ahead of the Queen’s Birthday long weekend, despite world […]

As fuel prices rise, profits gets slippery

SAN FRANCISCO — Larry Bearg’s business depends on gasoline. Lots of it. And with the average price of gas in California stuck above $3.30 per gallon, that dependency is starting to hurt. Bearg’s company, Planet Organics, delivers groceries to 2,300 San Francisco-area homes each week. His vans, packed floor to ceiling with boxes of organic […]

Comments on Greg Palast’s New Book Armed Madhouse

…There are many knowledgeable people today claiming we’ve about reached the “peak oil” stage or are close to it, and from then on the available supply will decline and eventually fail to keep up with demand. But there are others with a much different view. Greg is in the latter camp believing in his words […]

The oil weapon and Iran

In an address to the Iranian nation last weekend, Supreme Leader Ayatollah Ali Khamenei referred to the security of energy supplies in the Persian Gulf region being affected in the event of “the slightest mistake over Iran” made by the United States. This subsequently prompted intense speculation about whether Iran would use the “oil weapon” […]

With Oil’s Cash, Venezuelans Consume

CARACAS, Venezuela “Even our construction workers are spending their whole paychecks as soon as they get paid,” said Gerardo Pereira, 33, the owner of Vintage, who says he has never seen Venezuelans of all social classes spend this much. With oil revenue flowing into its coffers, the government is spending like never before on social […]

New Edition of

Updated chart features latest peak oil projections, new data on coal and natural gas; Reviewers of the new poster included Chris Skrebowski, editor of Petroleum Review, board member of the London-based Oil Depletion Analysis Centre (ODAC).

Gunmen kidnap senior Iraqi oil official in Baghdad

BAGHDAD (Reuters) – Gunmen kidnapped a senior official of Iraq’s oil ministry after he left work in Baghdad on Thursday, police and ministry sources said on Friday, highlighting the lawlessness still afflicting the vital sector. The incident occurred the same day U.S. troops killed Iraq’s al Qaeda leader Abu Musab al-Zarqawi, whose demise Iraq’s oil […]

EU agency warns over increased biomass use

EU energy ministers on Thursday emphasised that the use of biomass as an energy source should be increased, but the same day an EU agency launched a new report which also warned that too much biomass production could harm the environment. “It needs to be done in a sustainable way,” said author of the report, […]

Jonathon Porritt: Peak Oil and Climate Change

Jonathon Porritt, chair of the Sustainable Development Commission, the UK Government’s independent advisory body on sustainable development addresses the “two riders of the apocalypse” of Peak Oil and Climate Change. I know there are some people in the green movement who hate this technological enthusiasm, who feel deeply depressed when they hear people like me getting […]

China warns too many power plants are being built

China has said it is battling a proliferation of new power plants being built without permission and threaten to upset plans for a more environmentally friendly energy mix. “A number of power stations built against regulations still need to be dealt with, which is very difficult,” Zhang Guobao, the deputy head of the National Development […]

US House Panel to Resume Effort on ‘Opt-Out’ Bill Next Week

The House Resources Committee plans next week to resume efforts to relax offshore energy drilling bans with a hearing on legislation that allows states to “opt-out” of coastal restrictions and shares revenues with states with offshore production. The hearing comes ahead of House plans to bring several energy measures to the floor late this month […]

Climate Choas: Bush’s Climate of Fear

As part of the BBC’s ‘Climate Chaos’ series Panorama–the UK’s premier news documentary show–has investigated what has been described as the Republican War on Science and what is more accurately called the most destructive campaign of mis-information that the American people have ever been exposed to. climatechangeaction

QuantumSphere to Address Efficient, Clean Production of Hydrogen Fuel

“Several companies are struggling to efficiently generate hydrogen by water electrolysis with poor results thus far as today’s processes use expensive platinum electrodes. The high cost of platinum leads to the use of electrodes that have a small surface area,” said Dr. Douglas Carpenter, Chief Scientific Officer, QuantumSphere, Inc. “Our water electrolysis research will ultimately […]

Build Your Own Band-aid Fuel Cell

“Here’s how to make a fuel cell from a band-aid…This has got to be the simplest way to build a fuel cell from scratch. The design is ridiculously simple, whilst being effective – it will allow you to explore the concepts of fuel cells in a ludicrously simple way.” slashdot

Gazprom strikes deal with Dutch

Determined to expand its reach into Western Europe, Gazprom, Russia’s state-owned natural gas producer, has agreed with Gasunie, the Dutch gas trading company, to exchange stakes in a move that would give Gazprom access to the British market. For its part, Gasunie will gain more access to Russian gas supplies by taking a share in […]

Scotland’s ‘forest’ of wind farms

Nearly 600 square kilometres of Scotland – an area bigger than North Lanarkshire – will have to be covered with wind farms to meet renewable energy targets, it was claimed yesterday. Environmental groups, including the Royal Society for the Protection of Birds (RSPB), the John Muir Trust and WWF Scotland, have all expressed concern at […]

Namibia – an Alternative Paradise

Namibia can become the frontrunner in Southern Africa when it comes to implementing renewable energy concepts in a drive to save energy. Due the abundance of sunlight and wind in the country, renewable energy experts view Namibia as an ideal country where alternate or renewable energy production can become a viable option in the long […]

South Africa: Safety of Gas As Alternative Energy Source Under Spotlight

As South Africans find themselves having to switch to alternative energy sources in the face of current power shortages, MPs are urging the department of minerals and energy to inform citizens about the possible dangers posed by sources such as gas. Chairperson of the Portfolio Committee on Minerals and Energy Nathi Mthethwa today said it […]

Energy lesson from Cuba

An unlikely political figure is willing to fight for lower gas prices. His name: Fidel Castro. He’s working with foreign investors, including China, to find oil off the Cuban coast, close to American waters. In contrast, American companies aren’t looking for oil off the Florida coast, because it’s part of the 85 percent of the […]

Energy Descent Action Plans – a primer

An Energy Descent Action Plan (EDAP) is a local plan for dealing with Peak Oil. It goes well beyond issues of energy supply, to look at across-the-board creative adaptations in the realms of health, education, economy and much more. An EDAP is a way to think ahead, to plan in an integrated, multidisciplinary way, to […]

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