Energy priority as Germany assumes G8 presidency

On January 1, Germany assumes the rotating presidencies of both the European Union and the Group of Eight (G8) top industrial democracies, an unusual concentration of power in the hands of Europe’s biggest economy. Securing energy supplies for Europe, mainly oil and gas, is at the top of German priorities for its EU Presidency. Senior […]

THE WORST COULD BE OVER FOR HIGH OIL PRICES

The economy-wrecking nightmare of skyrocketing oil prices may be coming to an end, with cheaper $50-a-barrel oil becoming the norm through springtime. nypost

Peak Oil Passnotes: 2006 – A Year of Confusion

Firstly the Republican administration has had its wings severely clipped. This has put a dampener on the geo-political situation affecting the oil price. An attack on Iran seems less likely, the people who could make that attack happen are really the regime in Iran. If they were bellicose enough to force the Europeans to support […]

Asian markets soar on China boom, stronger corporate profits

From Tokyo to Shanghai to Mumbai, Asian stock markets have surged to record highs as investors race to cash in on China’s boom and stocks elsewhere are boosted by stronger corporate profits and lower barriers to capital movement. canada

UAE to Sell Off Dollars and Buy Euros

The United Arab Emirates plans to convert 8 percent of its foreign-exchange reserves to euros from dollars before September, the latest sign of growing global disaffection with the weakening U.S. currency. rigzone

Warming may change Amazon

Global warming could spell the end of the world’s largest remaining tropical rain forest, transforming the Amazon into a grassy savanna before end of the century, researchers said Friday. yahoo

US Ethanol Industry Has a 4.9 Billion Gallon Year

US ethanol production in October tied the all-time high set in September 2006 of 333,000 barrels per day (bpd), according to data released by the Energy Information Administration (EIA). greencarcongress

Silicon, Solar Power and Corporate Responsibility, Part 1

The introduction of the California Solar Initiative (CSI) is set for January 1. The largest program of its kind to date with a US$2.9 billion budget, CSI aims by 2017 to facilitate and finance 3,000 megawatts (MW) worth of solar-generated electrical power throughout the Golden State by installing solar photovoltaic (PV) systems in some 1 […]

Emirates Narrowing Dollar Reserves

DUBAI, United Arab Emirates, (AP) – The wilting U.S. dollar is pushing the United Arab Emirates, a close U.S. ally, to convert 8 percent of its foreign exchange reserves into the healthier euros, the central bank governor said on Thursday. The Emirates’ nearly $25 billion currency reserves are currently 98 percent dollars. That percentage will […]

The Oil Drum: Tracking the EIA Short Term Forecasts

Hi all. Thanks to Khebab, I have the opportunity to repost a study that I made about Short Term Energy Outlook (STEO) EIA’s predictions. I posted it originally as a comment to Khebab’s last post , but it was buried under more than 100 comments and he thought it was a good idea to repost […]

Top 10 sustainability stories of 2006

The year of 2006 in review from the perspective of sustainability in state and local government, presented in order of importance. Though we have been doing this blog only since May, so much has gone on since then that we are overwhelmed by the evidence that the nation is experiencing a collective tipping point. As […]

Globalization in Retreat

….Another factor unraveling the globalist project is its obsession with economic growth. Indeed, unending growth is the centerpiece of globalization, the mainspring of its legitimacy. While a recent World Bank report continues to extol rapid growth as the key to expanding the global middle class, global warming, peak oil, and other environmental events are making […]

Renewable Energy Set to Explode…with Government Backing

A bomb went off in the renewable energy world two months ago, but almost nobody heard it. It has stunning implications for the energy business, both the traditional hydrocarbon side and the renewable side. Maybe it Well, I

A grass-roots push for a ‘low carbon diet’

David Gershon’s book guides readers through a series of behavioral changes to reduce their ‘carbon footprint.’ Last June, David Gershon saw Al Gore’s global warming documentary “An Inconvenient Truth.” The time was ripe, he realized, to finish an old project. In 2000, Mr. Gershon created a step-by-step program, a la Weight Watchers, designed to reduce […]

India: 4-hr domestic power-cuts to tide over energy crisis

HYDERABAD: Stung by the farmers Rajasekhara Reddy said that power generation in December was 131 Million Units (MUs) as against the normal generation of 146 MUs while the demand was 163 MUs. To bridge the gap of 32 MUs, the State Government has began purchasing power from other states, impose four-hour power cut on domestic […]

Honda says fuel-cell cars can be mass-produced by 2018

TOKYO (AFP) – Japanese carmaker Honda believes it can mass-produce environmentally friendly fuel-cell cars by 2018. Honda Motor Co., Japan’s third biggest vehicle maker, plans to begin leasing a pricy new hydrogen-powered fuel-cell car in Japan and the United States in 2008. “By evolving a next model based on this, I think the level of […]

Belarus delegation heads for gas talks in Moscow

MINSK (Reuters) – A Belarus delegation headed for Moscow on Friday in a last-minute attempt to settle a gas pricing row with Russia, which could threaten supplies to Europe in the New Year. Russia’s gas monopoly Gazprom, the main Russian protagonist in the dispute, would not speculate on whether it expected Belarus to back down […]

Enormous ice shelf snaps off in Arctic

The ice island is about 37 metres thick and measures roughly 15 kilometres by five kilometres. That’s the size of a small city, or larger than 11,000 football fields.

The island is now stuck in the winter ice, but the researchers believe it is just a matter of time before it is freed and floats away. They say the ice island could become a potential hazard to navigation and oil and gas extraction if it sails south towards the Beaufort Sea.

canada.com

Russia tightens grip on gas, threatens to cut supply

LONDON Belarus has rejected the demands. Moscow warned Poland, Germany and Lithuania on Wednesday to expect shortages if the dispute continues. It also warned Belarus not to siphon gas from the Yamal-Europe pipeline. Gazprom, the world’s biggest gas producer, provides 25% of the natural gas consumed by Europe. The price dispute shows how Russia is […]

Cleaner diesel engine rules take effect

Federal regulations that take effect Monday mandate cleaner diesel engines in new trucks and school buses, dramatically cutting pollution but raising costs. The new engines, in combination with low-sulfur diesel fuel that began selling nationwide in October, will reduce particulate emissions by up to 98% over the previous generation, the Diesel Technology Forum says. Nitrogen-oxide […]

India: ONGC set for a mega gas find

There’s a new-found swagger in the gait of executives working for ONGC. After years of poor oilhunting record, the company sees its fortunes turning and feels confident of making the “grandmother of all” discoveries which will allow it to supply half the country’s gas needs from a single find by 2011-12. Along with its existing […]

Munich Re Sees Natural Catastrophes on the Rise

Munich Re sees the number of severe weather-related natural catastrophes increasing in coming years because of global warming, among other reasons, the German reinsurer said on Thursday. Torsten Jeworrek, a member of Munich Re’s management board, said that the increase in such disasters means continually rising loss potentials for insurance and reinsurance firms.Planet Ark

Environmentalists Revive German Speed Limit Debate

German environmentalists hope the country’s stewardship of the Group of Eight and the European Union in 2007 will help steer the car-crazy nation towards imposing speed limits on its unrestricted autobahns. They say that if motorists took their foot off the throttle a little, this would cut greenhouse gas emissions and help Germany brush up […]

CIS to create a common energy market

The CIS Economic Council has approved an agreement on initiating a common electrical energy market of the Commonwealth. This decision was taken at the Moscow sitting. An integrated energy market will be based on mutual profit, confidence and a fair competition. The treaty will let cut the energy gap in some of the CIS states, […]

Russia-Belarus gas dispute may help harmonise EU energy policy

A dispute between Belarus and OAO Gazprom that threatens to interrupt gas supplies to the European Union next week may lead to a more integrated EU energy policy and greater diversification of energy sources. ‘‘Politically, there’s an understanding among member states that a more coordinated energy policy is vital,’’ European Commission spokesman Amadeu Altafaj said […]

Wind energy turns out to have a complication: reliability

Engineers have cut the cost of electricity derived from wind by about 80 percent in the last 20 years, setting up this renewable technology for a major share of the electricity market. But for all its promise, wind also generates a big problem: Because it is unpredictable and often fails to blow when electricity is […]

China: Crude imports ‘to surge’

China’s crude oil imports are expected to surge this year and exports will fall year-on-year as a result of market demand and trade policy adjustments, a leading industry analyst said yesterday. “Increased crude imports and decreased exports are results of accelerating local economic growth and higher dependence on import energy,” explained Gong Jinshuang, a senior […]

Unrest curtails Africa oil

Petroleum-rich Nigeria led all of Africa’s oil-producing states in two crucial categories in 2006: barrels produced per day and violence against foreign energy firms.While the outlook for ending the violence hampering the oil industry in Nigeria appears dismal, nearby Central African nations are reportedly slowing down production except for Chad.According to a report by the […]

Russia pondering ways of spending oil revenues

The Russian Finance Ministry has proposed establishing an Oil and Gas Fund based on the Stabilization Fund, to ensure long-term budget stability through a balanced use of oil and gas reserves. This idea may solve many problems facing the Russian financial and lending sector, but can it be implemented?RIA Novosti

‘NATO interested in Iran’s nuke program’

NATO has begun taking a major interest in intelligence information about Iran’s nuclear program, according to Israeli defense officials who recently held talks with senior officers in the Western military alliance. NATO’s interest stems from growing concern that diplomacy will ultimately fail, the Israeli officials told The Jerusalem Post this week, and that military action […]

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