US farmers shift from wheat to GMO corn

NYT – In the early 1970(Free registration required) New York Times

Iran’s Oil Bourse to be Launched

Mehr News – Oil Minister Kazem Vaziri-Hamaneh said here on Friday that all preparatory requirements were arranged for launching the oil stock market in the country. Speaking to the reporters at the Mehrabad International Airport upon arriving in Tehran from an OPEC conference in Vienna, Vaziri-Hamaneh said that all un-subsidized oil products can be offered […]

The Oil Drum: Peak Update

The Oil Drum – I’m proposing to track the last production numbers from the EIA and check how well the different oil production forecasts are performing. [Update by Khebab, 02:00PM EDT] I’ve just added two forecasts: Bakhtiari and KoppelaarThe Oil Drum

Peak Oil Preparations: Money and Labor

Almost everything in our modern economy is either made from oil or requires oil for its functioning or its transportation. As the price of oil begins to skyrocket, therefore, so will the price of everything else. The same happened on a smaller scale during the temporary oil crisis of the 1970s and ’80s. The hardest […]

As prices tumble, doomsayers hold fast to prophecy

Peak-oil theorists reject any claims of resurgence in supply OTTAWA — It’s been a tough week for peak-oil theorists — those limits-to-growth doomsayers who argue the world’s crude oil supply has begun an inexorable decline that will force prices ever higher. At an OPEC meeting this week, Abullah Jum’ah, chief executive officer of Saudi Arabia’s […]

Bolivia’s hydrocarbons minister resigns

LA PAZ, Bolivia – The minister leading Bolivia’s efforts to nationalize Bolivia’s oil and gas operations resigned Friday after his government backed down in a dispute with Brazil’s state-run energy company, the industry’s biggest investor. Andres Soliz stepped down a day after Vice President Alvaro Garcia Linera said Bolivia was suspending a measure Brazil’s state-run […]

Interior Near 2 New Pacts in Oil Leases

The Interior Department, struggling to prevent the government from losing billions of dollars in royalties for oil and gas produced in publicly owned waters, said Thursday that it was close to agreement with 2 of the 56 companies that hold lucrative drilling leases in the Gulf of Mexico. The two companies, Royal Dutch Shell and […]

Conference touts alternatives to oil

Outside in the parking lot, Bob Swaim entertained people by riding around on his eclectic collection of bicycles. Inside in the lecture hall, sustainable energy was an almost desperate alternative to the disturbing decline of the world’s oil resources. Tom Whipple of the Association for the study of Peak Oil and Gas told those attending […]

The Most Important Resource

Energy: Uh-oh, more bad news for peak-oil proponents: After a big Gulf of Mexico find that may top even Prudhoe Bay, a Saudi oilman says we’re just beginning to tap the world’s crude. The disciples of peak oil believe the world is quickly depleting crude reserves and that global production will top out soon, if […]

‘Plundered Petroleum’? Someone’s Stealing, But Not the U.S.

The latest hogwash coming from the mouths of Islamic terrorists is that we are stealing Middle East oil. Al Qaeda Let

BP under pressure to boost capital spending

Investors are pushing BP, Europe’s second-biggest listed energy group, and its board to increase capital expenditure to avoid the type of safety lapses that the company has suffered at its Alaska pipeline and Texas City refinery. The issue came up at the last meeting of the Association of British Insurers, with some members of the […]

Chile to be independent of Argentine gas by 2008

Chilean Mine and Energy Minister Karen Poniachik said on Friday that Chile will end its dependence on neighboring Argentina for natural gas by 2008. “In late 2008, Chile will leave behind natural gas dependency on Argentina, because we will have our own liquefied natural gas plant,” Poniachik told local media, adding that by 2010, Chile […]

Air Force to Try Out a New Kind of Jet Fuel

A synthetic alternative could help cut costs for both the Pentagon and the nation’s airlines. EDWARDS AIR FORCE BASE Tally in the gas hogs in Iraq, Afghanistan and elsewhere

”Peak Oil

“I know about the “Peak Oil” theory that says we either have or are about to reach the point of diminishing returns regarding the world’s oil supply, but these recent discoveries suggest there is still plenty of oil to be found.” In that commentary I documented nearly a dozen new fields of oil and natural gas discovered since 1995.

So I wasn’t surprised when, on September 5, Chevron Corporation announced it had discovered new, huge reserves of oil some five miles below the surface of the Gulf of Mexico. The initial estimates were that these reserves “could boost U.S. oil reserves by 50 percent.”

Canada Free Press

China Has Sophisticated Energy Strategy for Africa, Expert Says

In its need for more fuel to supply an expanding economy, China is pursuing a dynamic “holistic” approach to energy partnerships in Africa that has surprised many Western competitors, says South African Warrick Davies-Webb. Their approach has become surprisingly sophisticated over the past 10 years, leading to partnerships with African state oil companies that now […]

India: Use of non-conventional energy sources stressed

Non-conventional energy resources have immense potential to resolve the country’s energy crisis, particularly in rural areas, senior government officials said here. In 2005-06 non-conventional energy sources contributed 19 billion units of power, which reflects the “possibilities”, V Subramanian, Secretary, Ministry of Non-Conventional Energy Sources said addressing a seminar on ‘Solar Energy and Biogas Applications for […]

Quit worrying about the economic cycle. The internet and climate change …

will matter more Climate change is perhaps the best example there is of what economists call market failure. If the market produces an undesirable outcome, it will normally self-correct the problem, so that, for instance, if there are so many cars on the roads that traffic grinds to a standstill, either more roads will get […]

Merkel Wants Good Relations with Poland — and Gas Pipeline

German Chancellor Angela Merkel is trying to boost German-Polish relations, despite continued plans to build a contested gas pipeline and recent diplomatic strain between the two countries. Adding to Germany’s intentions to improve strained relations with its bordering neighbor, Berlin will not be halting plans to build a gas pipeline under the Baltic Sea from […]

Natural Gas in Exchange for Time

During his meeting with Gazprom CEO Alexey Miller, Russian President Vladimir Putin suggested that Gazprom “specify” when the project to supply natural gas to China by means of the Altai gas pipeline is to be carried out. The pipeline is being designed now. “Specification” might be the bargaining for price with China: if Gazprom fails […]

U.S. presses China on energy prices

The United States pressed China to ease price caps on oil and power in talks this week aimed at bridging differences between the world’s two largest energy users, a senior Washington energy official said on Friday. Assistant Secretary for Policy and International Affairs in the U.S. Department of Energy, Karen Harbert, said in Beijing she […]

South Africa: Ethanol – Boon Or Bust?

“Africans have the potential to become the Arabs of the biofuel industry,” said Johan Hoffman, chief executive of Ethanol Africa, the company that plans to build eight biofuel factories across South Africa. “There is a potential to use vast areas of this massive continent for biofuel production, and all that is needed is water and […]

In Asian Waters, A Risky Game of Chicken

Japan and China’s growing assertiveness in the East China Sea could start a military skirmish Not that either side needs a reminder of who’s who. The Chunxiao gas fields in the center of the East China Sea

Oil demand weaker than expected in first half of 2006: OPEC

VIENNA (AFP) – World oil demand was weaker than expected in the first half of 2006 because increasingly efficient use of oil is limiting consumption despite economic growth, OPEC has said in a monthly report. “World oil demand growth in 2006 has been revised down by 0.1 million barrels per day (bpd) since the last […]

Biodiesel to drive up the price of cooking oil

It takes 7.5 pounds of oil to make one gallon of biodiesel. If you think the high price of gas has been irritating, wait until you see the cost of french fries. The popularity of biodiesel–made from vegetable matter intead of fossil fuels–”will tighten the supply of vegetable oils,” William Camp, executive vice president of […]

Ten oil companies may renegotiate drill leases: U.S.

WASHINGTON (Reuters) – The U.S. Interior Department told Congress on Thursday that about 10 oil companies have shown an interest in renegotiating drilling leases that at present would allow the companies to avoid paying billions of dollars in royalties normally owed on oil and natural gas found in the Gulf of Mexico. The department mistakenly […]

Get Ready for Price Rationing, Oil Guru Says

The Globe and Mail – Henry Groppe has been tracking the ups and downs of oil through 60 years, 11 U.S. presidents and five full cycles in the commodity. So he knows what he’s talking about when he says that this time, it’s different. “This is the most interesting time I’ve ever experienced,” he said. […]

BP finds leak at Texas City refinery cracker tower

NEW YORK (Reuters) – BP (BP.L) (NYSE:BP – news) said in a filing with state environmental regulators on Thursday that it detected a leak in a gasoline-making catalytic cracking unit tower at its 460,000 barrel per day refinery in Texas City, Texas. According to a filing with the Texas Commission for Environmental Quality, BP detected […]

West beams security focus on Gulf of Guinea oil

LUANDA (Reuters) – Western experts worried about the security of oil supplies from Africa’s Gulf of Guinea have considered several doomsday scenarios, including suicide attacks by determined Islamist militants on offshore oil platforms. But many analysts say domestic unrest is by far the bigger threat to a region whose oil is growing in strategic importance […]

The Oil Drum: Here Comes Winter Gasoline

Now, for something that I think will be non-controversial, and hopefully somewhat educational. One of the things I really like about The Oil Drum is that I learn something new here almost every day. So, I thought I would return the favor by explaining in a bit more detail something you may not know. About […]

Britain ‘must act now to cut carbon emissions or pay the price later’

Britain has four years to put in place a “road map” to ensure a low-carbon economy where petrol stations would be redundant and wind turbines would be a feature of every home by 2050. …By 2030, electric trains will have replaced aircraft for short-haul travel across Europe and airports will cater principally for long-haul flights. […]

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