Trichet urges close attention to oil prices

High oil and commodity prices demand close attention, and should not be ignored when measuring true inflation levels in the euro zone, European Central Bank President Jean-Claude Trichet said yesterday. “The phenomenon we are observing is very important and we have to understand it. One of our provisional conclusions is that we are in some […]

‘Global fear’ over energy plans

People fear energy policies are threatening the environment and global stability, a BBC poll suggests. The findings from across 19 countries come in the run-up to the G8 summit in St Petersburg, Russia, which will focus on energy security. Carried out for the BBC World Service, the poll of nearly 20,000 people indicates concern that […]

High oil prices, elusive fish bite into saury catch

Kushiro, Hokkaido–If the start of the season is any indication, consumers face higher prices for sanma (saury) this year, with lower hauls and rising oil prices to blame, fisheries officials say. After the fishing season began Sunday, daily hauls are down by two-thirds from the same period last year, say officials in eastern Hokkaido ports.This […]

Africa: Soaring Oil Prices Threaten to Undermine Gains from Debt Cancellation

Record high oil prices – fueled by the world’s oil dependence – are undermining some of the benefits of last year’s G-8 achievements on debt cancellation and putting serious stress on many of the world’s most impoverished countries, a policy brief published today revealed. High Oil Prices: Undermining Debt Cancellation and Fueling A New Crisis?, […]

Petrobras Calls Deep Offshore Wells a `New Frontier’

Petroleo Brasileiro SA, Brazil’s state- controlled oil company, opened a new exploration frontier with the discovery of oil beneath more than two kilometers of ocean and two kilometers of rock, Chief Executive Officer Sergio Gabrielli said. While Petrobras doesn’t know the extent or size of the oil deposits found about 250 kilometers off the shore […]

Will Coal Replace Oil?

One of the reasons Hitler lost the war is because he ran out of fuel. As Germany had not been bestowed with oil reserves, Hitler was aware of the important part oil would play in his plan for world domination. The eastern front was very much about securing Russia’s oil supply. In the end he […]

Biofuel demand lifts palm oil prices

Palm oil prices are likely to range between RM1,600 and RM1,700 a tonne in 2007 from RM1,450 now, driven by growing demand for biofuels, said a top industry official. The output of palm oil in Malaysia, the world’s largest producer, would likely rise to around 15.5 million tonnes this year from 14.9 million in 2005, […]

Antarctica at risk over oil: Bakhtiari

The near pristine environment of Antarctica was at risk of mineral exploration as the world’s oil supplies dwindle, a leading expert said today. Dr Ali Samsam Bakhtiari told a conference of Antarctic experts in Hobart the polar continent would need greater protection to save it from exploitation by increasingly desperate oil-hungry nations.Dr Bakhtiari, a former […]

G8 Call For More Oil Output Won’t Help Poor: Report

(Reuters) – High crude oil prices will more than offset the benefits of debt relief the Group of Eight rich nations gave to poor countries last year, and this year the G8 will make the situation worse by promoting more investment in fossil fuels, a new report warned on Wednesday. The report shows that developing […]

The Oil Drum: Deep Ocean Energy Resources — A Critical Analysis

On June 29th, the House of Representatives passed the Deep Ocean Energy Resources (DOER) Act. This bill may be taken up by the Senate soon. The legislation is now in the news and the mudslinging has begun. Conservative organizations and the media are pushing the main agenda, which is to open up areas of the […]

Why Coal-Rich US Is Seeing Record Imports

Christian Science Monitor – With nearly a quarter of the world’s coal supply – enough to last centuries – the United States has been dubbed the “Saudi Arabia of Coal,” by US officials and energy experts. But thanks to growing global coal markets and clean air regulations, the US is witnessing a latter-day equivalent of […]

Energy Efficiency Won’t Curb Soaring Electricity Demand, Study Suggests

Canada.com – Encouraging people to buy energy-efficient lightbulbs and cut back on air conditioning is not going to curb Canada’s soaring energy consumption, a new study suggests. Government efforts to promote conservation could cut energy demand by only about 10 per cent by 2025 compared with business as usual, says the study commissioned by the […]

Energy Should Not Be Political Tool

(Reuters) – Energy should not be used as a political tool, French President Jacques Chirac said on Wednesday, and he urged world leaders meeting in Russia to take steps to improve the functioning of oil and gas markets. Chirac said energy had to be treated within the context of a “global partnership for sustainable development”. […]

Venezuela’s Oil Sales to U.S. Drop as Chavez Sends More to Asia

(Bloomberg) — Venezuelan oil shipments to the U.S. fell 6 percent in the first four months of the year as President Hugo Chavez followed through on his plan to find new markets for his crude, according to data from the U.S. Energy Department. State-run Petroleos de Venezuela SA has been sending more tankers of oil […]

Free Gas Sets Off Fights in Milwaukee

MILWAUKEE (AP) — Two vehicles crashed, four people were arrested for fighting and three officers got sent to the hospital — all over some free gasoline Wednesday. For the most part, hundreds of drivers waited patiently for hours for about $30 worth of free gasoline from Allstate Insurance as a reward to Milwaukee for ranking […]

The cul-de-sac comes to a dead end

The Government hopes to foster better communities by using a design favoured by the Romans THE cul-de-sac, a feature of almost every housing development built since the Second World War, has reached the end of the road. Estate agents emphasise the benefits of living in a dead end with no passing traffic. But it is […]

Bike in a bag

Transport pioneer Sir Clive Sinclair has come up with a new idea – the bike in a bag. The man who introduced the C5 electric tricycle in the mid-1980s is launching a Manufactured in Malaysia, the new bike weighs 12lb and comes with its own bag which can be taken on foot or be placed […]

American Petrocracy

Among the shifting rationales for the war in Iraq, the most plausible motive may be the least discussed: access to oil. Few lies have wound up injuring Americans more Horse manure. In the run-up to war, from Alberta to Texas, oilmen gossiped about the centrality of oil. Meetings of petroleum geologists buzzed about the so-called

What We Need Is An Energy Policy

We are swilling oil faster than new fields are being discovered. by Jane Bryant Quinn Going green is fine, but it didn’t stop drivers from hitting the road on the Fourth of July. Nor were they stopped by the high price of gasoline, despite all the screaming a couple of months ago. Over the holiday, […]

U.S. Crude Supplies Drop 6 Million Barrels: Energy Dept.

MarketWatch – The Energy Department said crude supplies fell 6 million barrels for the week ended July 7 to total 335.3 million — around triple the decline expected by some analysts.MarketWatch

IEA Releases New Medium Term Energy Outlook Up to 2011

Schlumberger – Record oil prices will abate as production projects yield new supplies in the next five years, but filling up at the gasoline pump will continue to be an expensive business amid expectations for healthy global economic growth, the International Energy Agency said Wednesday. The agency, in a new medium-term report, projected global oil […]

Citgo to Stop Selling Gas at U.S. Stations

Interactive Investor – Venezuela-owned Citgo Petroleum Corp. has decided to stop selling gasoline at some 1,800 stations in the United States following calls by President Hugo Chavez to nix contracts that benefit U.S. consumers more than Venezuelans. Citgo, which is wholly owned by Venezuela’s state oil company, currently has to purchase 130,000 barrels a day […]

The Oil Drum: Peak Oil, Persuasion, and the World Meme

Many themes pervade the day-to-day attention span of the world’s citizenry right now: terrorism, fear of Islam/Islamofascism/religious systems not your own, Asian growth, immigration, global warming/climate change–so many are called “important.” All of these ideas vary in importance, salience, and validity depending on who you talk to; but all are definitely a part of the […]

Iraq 90% Unexplored For Oil

PARIS (AFX) – Only 10 pct of Iraq has been explored for oil and 60 pct of proven reserves are in undeveloped fields, the International Energy Agency said in a report that assessed the opportunities for development in the country. However, ongoing security concerns, corruption, sabotage and political uncertainty make a government output target of […]

New Brunswick gas stations turn off pumps to protest price regulation

FREDERICTON (CP) – Some motorists across New Brunswick had to search for gas Tuesday after almost 100 independent gasoline retailers turned off their pumps for several hours to protest price regulation. Service station attendants told motorists they had no fuel to sell, or that they couldn’t afford to sell it at the regulated price set […]

Tiny island of Vanuatu ranked as happiest place

Switzerland tops in Europe; Central America has highest average score The tiny nation of Vanuatu, one of the

Life After Oil

Everyone from GM to President Bush is suddenly infatuated with ethanol. Here’s how Big Corn could really replace Big Oil. On a brisk morning in early November, the semis are lined up four deep outside the front gate of the Corn Plus plant, waiting before a sign that warns, in big red letters, NO SMOKING. […]

Iran’s mullahs promise to cover China’s demand for energy

Chinese Ambassador to Tehran Leo Jen Tung conferred here Tuesday with the Head of Majlis Energy Commission Kamal Daneshyar on expansion of mutual cooperation on energy sector between the two countries. At the meeting, Daneshyar called for continued expansion of good relations between the two countries and voiced Iran’s readiness to meet the demands of […]

Blair is going nuclear to avoid blackmail over gas

TONY Blair is controversially turning to nuclear power to escape an energy crisis which could see Britain held hostage by foreign Governments. He knows that France has built 60 nuclear reactors, producing 80 per cent of its electricity. He is also choosing it because, despite producing radioactive waste, it does not pump out carbon gases […]

Green Energy: A Second Coming

The younger generation is taking part in finding workable solutions to the myriad problems related to the production, distribution and consumption of energy. Universities across the country are expanding and introducing a host of alternative- and renewable-energy programs and projects. It seems rarer than ever these days that a majority of Americans can get together, […]

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