Greenspan testifies on oil dependence and economic risk

This video is very long and very “dry” – however it is a “must see” if you have the patience. Former US Fed chairman, Alan Greenspan, covers many aspects of the US energy situation. Now that he is retired he seems to be prepared to come out with some hard truths.I came away feeling that […]

Coal sales slowed by ports

Port bottlenecks are still hampering miners from getting coal from Queensland mines to hungry Asian customers. More than 18 months after mining companies started clamouring for upgrades to Queensland ports, mining giant Rio Tinto has warned its newest mine is not able to make the most of the demand and high coal prices. And analysts […]

A bright spot in China’s fight with devastating pollution

Even as China’s skies darken from air pollution, sunlight is shining on its solar water heating industry, turning the country into a solar superpower. Thriving firms that manufacture low-priced solar hot water heaters have helped build the world’s largest market for the rooftop solar heaters.Somewhere between 30 million and 40 million families now have solar […]

No Relief for Airlines Yet From Fuel Prices

The use of synthetic fuel as an alternative source of jet fuel for the airline industry was a long way off, one of the world’s largest jet fuel suppliers — Shell Aviation — told the World Air Transport Summit yesterday. This means that the industry will be forced to find innovative ways to mitigate their […]

Gulf widens between US and sheikhdoms

Amid increasing tensions between Tehran and Washington over Iran’s nuclear program, the administration of US President George W Bush is courting the Gulf monarchies with the same proposal it offered them 15 years ago after the first Gulf War – purchase US weapons worth billions, and Washington will protect you against your Persian nemesis. But […]

Central America talks energy ambitions

Central American nations are making ambitious plans to improve the region`s energy sector, though experts are expressing doubts whether any, or even one of them, can come to fruition. Perhaps the most ambitious project of all — and perhaps the least attainable — is a $6.5 billion refinery that would pump an estimated 360,000 barrels […]

Dutch giants told gas has run out

Dutch industry, including chemical giants Akzo Nobel and DSM, is reacting angrily to news that it will have to look elsewhere for gas next year as supplier Gasunie has “run out”. Some analysts were citing deals with British industry as being the cause of shortages. A spokesman for DSM said: “We would have expected supplies […]

Pessimists at EIA Strike Back

The Oil Drum – The EIA’s International Petroleum Monthly came out on Monday, but I was out of town so didn’t get to updating the plateau graphs until tonight (I build them in part out of the EIA’s table 1.4, and in part from the IEA’s monthly Oil Market Reports). You’ll recall that last time […]

Is Saudi Arabia Running Out of Oil?

Supply Chain Digest – Latest comments from oil minister on declining production lead Supply Chain Digest

Time Is Not On Our Side

American Scientist – If the release of carbon dioxide into the atmosphere from the burning of coal, oil and gas is not reduced greatly and soon, the consequences are likely to be catastrophic. So say Tim Flannery and Elizabeth Kolbert, authors of two new books that provide ample evidence that those emissions are adversely affecting […]

The Peak Oil Crisis: One Year In Review

Falls Church News-Press – As the world oil situation is rather quiet at the minute, it’s a good time for a review. The price of oil continues to bounce around $70 a barrel and shows no sign of moving very far in either direction until the next big development occurs. The Iranians are busy trying […]

Oil Exploration, Production Spending Rising – Report

(Reuters) – Oil companies will boost worldwide oil exploration and production spending by more than 22 percent this year, due in part to a jump in oilfield services and drilling costs, according to a study released Monday by Citigroup Research. The study, which surveyed 211 independent and public oil companies, showed oil companies are planning […]

What Can We Learn From The Oil Field Size Distribution?

GraphOilogy via EnergyBulletin.net – Summary There are several ways to estimate the amount of oil that will ultimately be pumped from the ground — that is, the Ultimate Recoverable Resource (URR). The usual way is to apply a curve-fitting technique following W. King Hubbert’s approach. Another way is to study the distribution of oil field […]

Imperfect Future

Monday Magazine – It’s odd, but strangely plausible, that a man who isn’t an architect, doesn’t have any training in urban planning, and has no real background in geology would become the unofficial spokesperson for a new movement towards global sustainability. Perhaps it’s unlikely, or perhaps it’s a sign that people in North America are […]

Declare Energy Independence

We the people need to motivate Uncle Sam to create a rational and revolutionary energy strategy. Fact: All forms of energy are subsidized. Oil. Gas. Coal. Nuclear. Renewables. No type of energy stands alone in the market, free of tax breaks, research grants or other forms of government help. Fact: Subsidies are ultimately funded by […]

ASPO June Newsletter

Now available. Articles include: 710. Venezuela buys oil 711. Saudi Arabia struggles to maintain production 712. Bolivia takes a lead 713. The Power of Community: How Cuba Survived its Peak Oil 714. Oil Trade Currency 715. Saudi Arabia Revisited 716. Britain moves nuclear 717. Water, Energy and Food Prices 718. US wakes up to Capacity […]

EU Tells OPEC Oil Will Stay Key Part Of Its Energy Supply

(AP) – Oil will remain a major part of Europe’s energy supply despite worries about volatile prices and the EU’s attempt to become a cleaner and more environmentally conscious consumer, an official said Wednesday after talks between the European Union and OPEC. ”Our basic energy supply in the next decades will have to rely on […]

Iran May Try to Join Caspian Oil Pipeline

(AP) – A top Iranian energy official said Wednesday that Iran could negotiate pumping its oil from prospective Caspian oil fields through the U.S.-backed pipeline intended to carry the rich Caspian Sea oil resources to Western markets. Mahmood Khaghani, the Caspian department chief in the Iranian oil ministry, said that Iran’s relations with Azerbaijan were […]

Bank of America offers hybrid credit

Charlotte-based bank will give its employees $3,000 if they buy a hybrid and live within 90 miles of Charlotte, Boston or Los Angeles. NEW YORK (CNNMoney.com) – Bank of America announced it will reimburse $3,000 to many of its employees who buy a new hybrid vehicle. The nation’s No. 2 bank will make the rebates […]

Is the US Headed for Another Depression?

The Daily Reckoning – Those are the factors that caused the unpleasantness that began in 1929. Since the US government is exponentially more powerful and invasive today than it was in either the 1920s or the 1970s, I expect the consequences will be much worse this time around. Things could have come unglued, and almost […]

EIA: 2Q China Oil Use Seen +5.8% Vs Yr-Ago At 7.3M B/D

(Dow Jones)–Chinese oil demand in the second quarter averaged 7.3 million barrels a day, or 100,000 b/d lower than estimated a month-earlier, the U.S. Energy Information Administration said Tuesday. Still, oil demand growth in the world’s second-biggest oil consumer rose by 5.8%, the EIA said. DowJones Newswires

Greenspan: Oil prices starting to hurt economy

WASHINGTON – Former Federal Reserve Chairman Alan Greenspan said Wednesday that while the country has been able to absorb sharp increases in oil prices, the high energy costs are beginning to stunt economic growth. But he also said that sharply higher oil prices have not produced any

South Africa’s bright future will have to be candle-lit

WHEN the Chief Executive Officer of Eskom is reputed to earn a salary of R73 million per annum is it unreasonable for each of us to presume this man is the cat’s whiskers, the triple cream floating at the top of the milk bottle with the qualifications, experience and intellectual abilities of a giant among […]

U.S. must develop oil alternatives

The year was 1956, and the head of Shell Oil Companies’ research lab, M. King Hubbert, made a prediction that peak production of oil in the United States would occur in the year 1972. He was wrong. Peak oil production in the United States occurred in 1970. Kenneth S. Deffeys in his 2005 book “Beyond […]

Now, it’s tidal power

Vineyard Sound is one of eight sites across the country that a Washington, D.C., company wants to reserve as a possible future home for a tidal energy project. Oceana Energy Co. this spring submitted applications for preliminary permits to the Federal Energy Regulatory Commission on seven tidal energy proposals, including the Cape and Islands Tidal […]

World leery of oilsands

Rothschild analyst: Foreigners fail to commit over fear of oil price crash CALGARY – Canadians are getting accustomed to viewing the Athabasca oilsands as the Holy Grail to an oil-starved world, but the outside view remains cautious. Franco Bernabe — the Rome-based vice-chairman of prestigious European investment bank Rothschild Europe, former chief executive of Italian […]

Ouch! that hurts…

NEW DELHI, INDIA: It Auto industry sources say the real action will start when market leader Maruti and second biggest car maker Hyundai blink. But even if the price mark-up takes another couple of weeks to come about, the gas bill is going to pack in quite a bite. AutoMania worked out the math for […]

Total sees 2020 oil output peak, urges less demand

AMSTERDAM (Reuters) – France’s Total (TOTF.PA: Quote, Profile, Research) estimates global oil production will peak around 2020 if output growth continues at current levels and has advised governments to cool demand to avoid a supply crunch, its chief executive said. “The capacity of raising (oil) production is a real challenge … if we stay with […]

Economies of scale: the limits of wind power

Yes, wind power looks good on paper, but this example might wake up some of us: At $1 million a piece the cost would be $1 trillion, and that

Militants attack Nigerian oil facility, kidnap 5

PORT HARCOURT, Nigeria (Reuters) – Militants attacked a Shell-operated oil facility in the Niger Delta on Wednesday, setting a house boat on fire and kidnapping five South Korean contractors, authorities said. The attack comes on the heels of the abduction of eight foreign oil workers last Friday, who were released on Sunday, and amid rising […]

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