Oil Price Spike to End, You Can Bet on It

The Age – AT RECENT conferences on the future of biofuels, I have offered a $10 bet to anyone in the room that the West Texas intermediate oil price will be less than US$40 a barrel within three years. So far only three people have taken up the bet. My view that the oil price […]

Candidates playing gas pump politics

MIAMISBURG, Ohio – Mike Shteiwi pulled out the pump in disgust after buying just a few gallons of gas on a day when the price for a gallon of regular jumped a dime, to $3.09, in his southwest Ohio hometown. “It’s killing everybody,” muttered Shteiwi, 54. “Whoever’s in office now, I’m not going to vote […]

Alaska Raises Taxes on Oil Companies

Alaskan lawmakers approved the first major overhaul of state oil taxes since the 1980s late Thursday night, just days after the discovery of corroded pipelines forced BP PLC to shut down Prudhoe Bay, the nation’s largest oil field and the state’s main source of revenue. Amid anger on the part of Alaskans over the Prudhoe […]

Iraqis mired in worst energy crisis since 2003

BAGHDAD – Under a scorching sun, Baghdad taxi driver Sameer Abdul Razzaq wraps a wet towel around his head and waits for gasoline in a line stretching a mile. “I’ve been here since 6 a.m.,” he said Sunday. “If I’m lucky, I’ll get to the end of the line by sunset. I actually think I […]

Shutdown blow to Alaska’s economy

Almost 89 percent of state’s income comes from oil revenue ANCHORAGE, Alaska – Picture Alaska and most people in the Lower 48 think abundant forests, picturesque bears, frosted tundra and perhaps the odd salmon. But what about oil? While there’s plenty of scenic vistas for tourists to enjoy here, for better or worse Alaska’s economy […]

American vehicles are piling on the pounds

Automakers work on ways to slim down as gas price tops $3 a gallon Ballet dancers and professional jockeys are not the only ones who worry about weight. U.S. carmakers worry about it too, and with good reason: Even as the price of gasoline has crept higher in recent years, their cars are piling on […]

Gazprom, Algeria

Two of the worldAs MosNews reported, the two companies signed preliminary protocol in March, on the sidelines of President Putin

Moscow Court Confirms $130M Back Tax Claim Against Russian-British Oil Major TNK

A Moscow arbitration court has confirmed a $130 million back-tax claim for fiscal 2001 against Russian-British joint venture TNK-BP, Russian newspapers reported on Monday, Aug. 14. full story

Oil to shatter $80 ceiling

THE price of oil will breach the symbolic $80 ( thebusinessonline

Ancient Arctic Water Cycles Are Red Flags To Future Global Warming

Co author Matthew Huber, an assistant professor of earth and atmospheric sciences at Purdue University’s College of Science compared data from the research expedition with complex climate-model simulations to study and predict the effects of greenhouse gases. Their measurements confirm that the carbon dioxide level increase in the Palaeocene/Eocene thermal maximum (PETM) was at least […]

Oil-addicted America finds a temporary fix in Africa

Nigeria, Africa’s oil heavyweight with 36 billion barrels of reserves, boasts one-seventh of Saudi Arabia’s bounty. Still, African crude has its advantages. It is light and low in sulfur seattletimes

IEA: Market Can Still Withstand Rising Oil Prices

The International Energy Agency said the world oil market can still withstand the rising prices of oil but warned the public is already overburdened and the situation is very volatile. The Paris-based agency said in its monthly report, “For the time being, the market can cope with current outages, but in the light of the […]

Oil crisis: It’s only just begun

Peak-oil theory is controversial. Many think it alarmist. Yet even Big Oil is starting to gird itself for possible fuel shortages: Chevron, the nation’s second-largest oil company, has bluntly declared that “the era of easy oil is over” and is warning energy-hungry Americans that “the world consumes two barrels of oil for every barrel discovered.” […]

Peak oil and fragility of global oil supply

The bottom line is that 84 million barrels of conventional oil per day appears to be the maximum that the world’s oil industry can deliver. The future of conventional oil extraction is a globe-spanning curve of irreversible decline. Peak Oil is also a means of stating that about half of all the conventional oil in […]

The Enron Connection to Higher Oil and Gas Prices

As a result, over the past two years crude oil inventories have been steadily growing, resulting in U.S. crude oil inventories that are now higher than at any time in the previous eight years. The last time crude oil inventories were this high, in May 1998 chronwatch

Report of the Week:Reducing Carbon Emissions from Transport

While we recognise the difficulties in decoupling economic growth from increases in carbon emissions in the transport sector, we are concerned that the Department seems to have a fatalistic attitude which sees carbon-intensive activities and economic growth as going hand in hand. The Department must be much bolder in intervening to break the upward spiral […]

China Targeting Growing Biofuels 12x by 2020; 15% of Transportation Fuels

China, already the world greencarcongress

US Firm Develops Hydrogen Fuel Cell for Hybrid Cars

Niedzwiecki believes hydrogen fuel cell technology will rule the road in the decades ahead. “The auto companies have, you know, have indicated that hydrogen is the end game, that they see a point where there could be a large scale transition, probably over the next 15 to 20 years you could see a huge displacement […]

Bolivia Suspends Energy Nationalization

Houston Chronicle – Bolivia says it has suspended the nationalization of its oil and gas industry pending a reorganization of the state petroleum company, which lacks the funds and operating capacity to take over production from foreign companies. A statement issued Friday by Bolivia’s Hydrocarbons Ministry said that “full effect” of nationalization would be “temporarily […]

Prairie Farmers Anxious for Chance to Grow Wheat for Ethanol Plants

The Globe and Mail – Husky Energy Inc. is just weeks away from opening its second ethanol production plant, a major step in the Calgary-based company’s plan to become Western Canada’s largest producer of the biofuel. But Husky’s determination to carve out a bigger piece of the ethanol market is also making it increasingly reliant […]

Plasma screens threaten eco-crisis

Our insatiable appetite for the big picture is threatening the planet. A scientist has warned that if half of British homes buy a plasma-screen TV, two nuclear power stations would have to be built to meet the extra energy demand. But plasma sets can use up to four times as much electricity as the old-style […]

Tories plan radical green transport tax

The Conservatives are drawing up plans for steep rises in taxes on air travel and gas-guzzling cars, it emerged last night, writes Patrick Hennessy. The increases could be offset by deep cuts in council tax, VAT and National Insurance contributions, according to proposals being hammered out by the party’s transport policy review group. Steven Norris, […]

Flour costs push up price of loaf

Bread makers say poor crop harvests and rising energy costs are forcing a hike in the price of bread on the shelves. Flour prices are set to increase among the biggest bread makers, leading to a rise of two to four pence per loaf. Rank Hovis, which owns eight mills and ADM Milling, which has […]

Greenland’s Melting Ice Sheet May Speed Rise in Sea Level

Two new scientific studies measuring Greenland’s rapidly melting ice sheet and the pace of Antarctic snowfall suggest that the sea level may be rising faster than researchers previously assumed. The papers, both published yesterday in the journal Science, provide the latest evidence of how climate change is transforming the global landscape. University of Texas at […]

Tap the Power of the Dams

New England has many hills of all sizes. The beauty of New England is those hills, and the white steeples poking up through the trees in the valleys below. New England also has rain, fairly evenly distributed throughout the year. The rain trickles down the sides of those hills. Creeks form and grow into brooks. […]

Iranian Oil Bourse: Chris Cook Interview

Chris Cook, former director of the International Petroleum Exchange and an energy consultant, is the originator of the Iranian Oil Bourse project. Cook’s involvement in the Iranian Oil Bourse project stemmed from work he did in the late nineties on manipulation of the oil market by the intermediaries. As a result of the realisation of […]

NIGERIA: Fuel scarcity in Port Harcourt

It came like a thunderbolt and literally took the entire Port Harcourt landscape and its environs by storm. It started manifesting Monday, the beginning of the working days. Before anybody could visualise what was the matter, its impact had started been felt by residents. Queues had equally started emerging at the various petrol stations scattered […]

Facing Reality in Derrick Jensen’s ‘End Game’

WeTwenty-five years ago, when it still might have been possible to save ourselves, I remember reading and hearing of damage already done to the planet by

Are We Ready for the Next Oil Shock?

Could a mere 4 percent shortfall in daily oil supply propel the price of a barrel to more than $120 in a matter of days? That’s what some oil market experts are saying, and if they’re correct, we face the very real possibility of an oil shock wave that could send our economy reeling. Such […]

Automakers are going the wrong way on mpg

In an oil-addicted nation where $4-a-gallon gasoline may be in the cards, why can’t the auto industry build cars that get better mileage? The Environmental Protection Agency reports that 2006 model vehicles sold in the U.S. average a tepid 21 miles per gallon, the same as in 2005. Even Japanese nameplates, which typically lead the […]

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