A shift in forces pushing oil prices higher

It’s elementary economics: Price is driven by supply and demand. Changes in either one can push the price of a commodity up or down. But there can be big differences in the result, depending on which one – supply or demand – is doing the pushing. Case in point: crude oil. Supply was the culprit […]

Grid Operators Scraping the Bottom of the Barrel

Spot prices for wholesale electricity surged yesterday throughout the East Coast of the U.S. as another day of sweltering heat and high demand for electricity pushed prices above price caps set by federal regulators. In New York City, Consolidated Edison Inc. paid more than 10 times the average price Thursday afternoon when prices hit as […]

Nigeria: Two Killed, Policeman Injured As Youths Protest Power Outage in Oturkpo

At least two persons were killed and one police officer injured Tuesday in Otukpo, Benue State during a violent protest by youths of the town against one week of power outage occasioned by a technical fault at the zonal office of the Power Holding Company of Nigeria, PHCN in the town. Eye witness account told […]

Underwater resources: Oil companies eye California’s offshore leases

The Senate’s vote this week to open more of the Gulf of Mexico to oil exploration raises the question of whether California’s moratorium on offshore drilling could someday end. And it casts a renewed spotlight on the energy reserves lying just beyond the state’s shore. The federal government estimates that California’s coastal waters could hold […]

Heat converts Bush ally Robertson on global warming

NEW YORK (Reuters) – Conservative Christian broadcaster Pat Robertson said on Thursday the wave of scorching temperatures across the United States had converted him into a believer in global warming. The view put him at odds with fellow Republican President George W. Bush, who has benefited politically from Robertson’s backing and who has refused to […]

New oil takes time

North Slope production doesn’t come on line quickly or cheaply Everyone talks about the need to boost North Slope oil production. Actually, Alaska would be happy with just a slower decline. Production could fall below 800,000 barrels a day in the next year. That’s a drop of almost 60 percent from the 1988 peak. Forget […]

3 Filipinos workers kidnapped in Nigeria

PORT HARCOURT, Nigeria – Three Filipinos working for a U.S. construction firm were kidnapped in southern Nigeria early Friday, a day after a German was abducted in a region where the handling of oil revenue has caused strife between multinational companies and local communities. Four armed men blocked the vehicle of the Baker Hughes Inc. […]

Gas growth to outstrip oil

Gas consumption will continue to outstrip oil for the foreseeable future, further undermining the security of energy supply in Europe, a leading expert has warned. Against a backdrop of exorbitant crude oil prices and growing geo-political unrest in the Middle East, Russia and Nigeria, Peter Odell, professor emeritus in international energy studies at Erasmus University […]

Petrol margins hurting motorists (Aus)

Fuel companies’ inflated profit margins on petrol are hurting motorists, regardless of whether the oil majors are colluding to fix prices, says the nation’s largest motoring group. A parliamentary inquiry is examining the causes of high petrol prices in Australia, and has heard there is no evidence that oil companies are colluding to inflate the […]

Energy Squeeze Puts Glow On Uranium

The two biggest listed uranium producers in the world are Toronto- and New York-listed Cameco and London-listed Rio Tinto, which houses coal and uranium within its energy division. According to Cameco, average industry prices for U308 have risen from $9,70/lb in Jan 2002 to $47,25/lb last month. Although uranium is by no means a rarity […]

Multi-million grant package for energy microgeneration (Ireland)

An €11m grants package was launched today to encourage industry and commercial users to generate their own electricity and heat. Natural resources minister Noel Dempsey confirmed the new Combined Heat and Power (CHP) programme would aid businesses in building small-scale fossil-fired and biomass systems.The biomass systems developed under the programme will displace the equivalent of […]

Crunch time for EU energy policy

After the takeover squabbles and fierce debates surrounding national sovereignty issues, the EU is now facing a number of key decisions that will reveal its true resolve in shaping a common energy policy.EU heads of state and government agreed on the basic principles of a future ‘Energy Policy for Europe’ at the spring summit in […]

World must race to develop green energy, urges Rees

An urgent project on the scale of the Apollo moon landings is needed to boost research into green energy sources and save the planet from environmental disaster, according to Britain’s top scientist. Writing in the US journal Science today, Sir Martin Rees, president of Britain’s most prestigious scientific institute, the Royal Society, expresses dismay at […]

Peak Oil and Politics

Grist Magazine – Last week the Canadian Broadcasting Corporation ran part one of a two-part series on how Cuba survived without oil after the fall of the Soviet Union. (Not technically true — there was oil, just far too little of it.) The next part runs this Sunday and has to do with the redefinition […]

Portland Takes the Lead

Falls Church News-Press – The Middle East , home to a third of the world’s oil production, is coming unglued in so many ways and in so many places that it is nearly impossible to track. One would have to be a complete fool, however, not to recognize one of the manifold costs of all […]

Iran warns oil could reach $200 on sanctions

Global oil prices could hit $200 per barrel if the United States pursues international sanctions against Iran, an Iranian official said on Thursday, although analysts passed the comment off as saber rattling. yahoo

SunOpta Announces System Sale to Celunol for Cellulosic Ethanol Demonstration Sy

SunOpta Inc. has sold a continuous process system, including SunOpta greencarcongress

GreenFuel Technologies Signs Emissions-to-Biofuels Licensing Agreement

GreenFuel Technologies Corporation, developers of algae bioreactor systems that recycle CO2 in smokestack gases into biofuels (earlier post), has signed a licensing agreement with The Victor Smorgon Group headquartered in Melbourne, Australia. The agreement provides The Victor Smorgon Group with an exclusive license to distribute, install and operate GreenFuel greencarcongress

Green Energy, Part 4: Not Politics as Usual

This final installment considers how the men and women in state and federal government have been using the Web — or in some cases, neglecting to do so — to further their positions on the alternative energy issue. ecommercetimes

Solar World: Solar cells go nano

In the race to produce affordable solar energy systems, nanotechnology is emerging as a new way to build better solar cells. “Nanotechnology brings a whole new set of tools with which we can dramatically increase the efficiency of solar cells,” Doug Neidich, the chief executive officer of the new solar startup Solarity, told United Press […]

Mexico Sees No Dent to Oil Output from Cantarell

(Reuters) – A dip in output this year at Mexico’s aging Cantarell oil field will be offset by rises elsewhere and will not alter oil monopoly Pemex’s goal of steady overall output for the years ahead, a senior executive said on Thursday. Pemex’s exploration and production head Carlos Morales said Pemex, a top supplier of […]

Australian States abandon carbon trading, it would cost

The Australian – August 04 2006 THE states have downgraded plans for a multi-billion-dollar nationwide carbon trading system as they concede it threatens to increase electricity prices for families already hit by petrol and interest rate hikes. The Australian Poster’s Comments: [well duh! so its poliltics as usual, postpone disaster planning until _after_ the disaster, […]

Prank Suggests Sky-High Price at Pump

San Jose Mercury News – To all those who thought the apocalypse was coming when they passed the Stop Corner gas station in West San Jose this morning, fear not: The era of $9 gas is not yet here. For at least a few hours, though, the store’s display sign suggested otherwise. Pranksters apparently switched […]

US Fears Baghdad Cannot Fund Rebuilding

MSNBC.com – US government officials have expressed doubts about whether the Iraqi government will be able to sustain US-funded reconstruction projects next year because of the volatility of Iraq’s oil sector, its main source of revenue. A report by the special inspector general for Iraq reconstruction, Stuart Bowen, this week also said it was uncertain […]

The Oil Drum: EIA insisting on plateau

Stuart’s plotted the new EIA data point and it disagrees with the IEA..and the gap is getting bigger between the two. Right now, May 2005 is still the winner in most supply, but December 2005 and April 2006 are statistical ties. Minor revisions and changes to methodology could very easily change which is exactly the […]

Oil Prices Could Cause Global Recession

ABC Online (Australia) – MARK COLVIN: There was a dire warning today from one of the world’s leading credit ratings agencies. An oil price shock could cause a major global recession, and financial markets aren’t building in enough capacity to absorb risk. David Wyss is the chief economist at Standard & Poor’s… STEPHEN LONG: How […]

Iran Warns Oil Could Reach $200 on Sanctions

(Reuters) – Global oil prices could hit $200 per barrel if the United States pursues international sanctions against Iran, an Iranian official said on Thursday, although analysts passed the comment off as saber rattling. Iran’s Foreign Relations Vice Minister Manuchehr Mohammadi told Venezuelan state television, “The first consequence of these sanctions would be an increase […]

Let’s get serious about oil

Here’s a nasty thought: Every day you and I subsidize the propagators of terrorism. To import oil for our cars, homes and workplaces, America now spends and borrows a staggering $1 billion every single day. In the past four years alone, oil producers’ revenues have grown from $300 billion a year to $800 billion. When […]

Delusional Thinking in the Senate

Almost six months to the day after President Bush urged Congress in his State of the Union address to help break AmericaAfter Mr. Bush

Impact of oil on economy limited so far: Bodman

CEDAR RAPIDS, Iowa (Reuters) – High crude oil prices have had some impact on U.S. economic growth but the pain is not on the level seen during the energy price shocks of the 1970s, U.S. Energy Secretary Sam Bodman said on Wednesday. “I am surprised that we have not in the past seen more of […]

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