Gazprom Free to Buy Up Russian Gas Producers

Gazprom is finally free to buy any Russian gas producing enterprises after it has succeeded in reversing the state competition watchdog’s regulation. There are now no obstacles for Gazprom to set up monopoly not only on exports but also on the whole gas production in Russia. Experts say that oil companies will remain the only […]

Wind Power on the Rise in South Korea

With soaring oil prices and growing public awareness of the changing environment, wind power stocks in South Korea are enjoying increasing investor interest. Experts say that stocks in wind turbine manufacturers, power plant builders and engineering companies are likely to see upward momentum as both the local and overseas markets continue to grow in the […]

Asian leaders make energy pledge

The leaders of 16 Asian countries have pledged at a summit meeting here to work together to save energy and develop new supplies in order to cut the continent’s reliance on expensive oil imports. Winding up a half-day summit, they signed an energy accord vowing to reduce dependence on fossil fuels, develop alternatives such as […]

Is Energo-fascism in Your Future?

by Michael T. Klare Energo-fascism will, in time, affect nearly every person on the planet. Either we will be compelled to participate in or finance foreign wars to secure vital supplies of energy, such as the current conflict in Iraq; or we will be at the mercy of those who control the energy spigot, like […]

The US is not leaving Iraq

I don’t care what the American public thinks. I don’t care what the Democrats have promised them. I don’t even care how many soldiers and civilians have to die. The United States is not leaving Iraq. I represent the 5% of the world’s population that require 25% of the world’s oil to survive. I’m one […]

China cuts domestic petrol prices

China has surprisingly cut the retail price of petrol and aviation fuel for the first time in 19 months. Petrol prices have been cut by 3.8% but the prices in the much larger diesel market have been left unchanged. Oil refiners China National Petroleum Corporation and China Petroleum and Chemical Corporation (Sinopec) have been told […]

The Oil Drum: Is the World’s Biggest Machine Breaking Down?

Many of the so-called “alternatives” to fossil fuels rely on the electrical grid. We have seen the problems that nuclear and photovoltaics will face even delivering on their production promises, but even if they were to somehow solve those problems, there is still the problem of the grid itself. Most of the energy sources offered […]

Oil and gas: Planning for a decline

FARMINGTON “Most folks in this country are not familiar with this story and have not formed an opinion of it,” he said. The Four Corners, which has its economy firmly rooted in the oil and natural gas industry, could see myriad effects as the supply of oil and natural gas drops off. Personal mobility, the […]

Why gasoline follows oil up but not down

The short answer: Service stations do it because they can. But the really big bucks are being made elsewhere. NEW YORK (CNNMoney.com) — If it seems like gasoline prices are quick to skyrocket when the price of oil goes up, but then take their sweet ‘ol time coming back down when crude prices sink, the […]

Low prices could extend energy woes

The cost of a barrel of oil is dropping faster than the balance of my bank account last summer when oil was hitting peak prices. But the price of a gallon of gasoline has gone down just a few cents. Turns out that oil is falling faster than we can use up the expensive fuel […]

Why Iran Is Next

In the petrodollar wars, stage one was Iraq and stage two is Iran. Both dared to propose to use the euro instead of the U.S. dollar (USD) to buy Middle East oil. That was a big mistake because it jeopardized the solvency of the USD, a fiat currency; and, therefore, the very heart of the […]

Should Oil Be $40 or $70?

…Will oil drop to $40? Or go back to $70? Or $80? There are no easy answers to this question, but let’s see if we can frame some of the issues. First, demand is going to increase over time as an energy-hungry developing world needs more and more energy. Take a look at this chart […]

US House Energy Bill Aims to Press Companies on Drilling Fees

Oil and natural gas companies would fall under serious pressure to rework flawed Gulf of Mexico drilling leases if an energy bill crafted by U.S. House Democratic leaders is approved next week. House Ways and Means Chairman Charles Rangel, D-N.Y., on Thursday introduced the energy bill to deny large energy firms billions of dollars worth […]

BP Names Its Next Chief; Succession Pace Stepped Up

The beleaguered energy giant BP unexpectedly named a successor on Friday for its chief executive, John Browne, and said Mr. Browne would step down more than a year earlier than expected. BP, the world Tony Hayward, BP

Iran says no decision yet on OPEC meeting

TEHRAN – A senior Iranian oil official said on Sunday OPEC had still not decided on whether to hold an emergency meeting soon to discuss a 15 percent drop in crude prices since the start of the year, a ministry Web site said. “There is still no official decision over holding an urgent meeting of […]

Bush set for climate change U-turn

Downing Street says that belated US recognition of global warming could lead to a post-Kyoto agreement on curbing emissions George Bush is preparing to make a historic shift in his position on global warming when he makes his State of the Union speech later this month, say senior Downing Street officials. Tony Blair hopes that […]

Russia wants control of its oil exports after halt

MOSCOW – Russia’s trade minister acknowledged Saturday that his country’s reputation as an energy supplier suffered in the dispute with Belarus that disrupted oil exports to Europe, and said Russia must build more alternative export routes. German Gref, who took part in top-level negotiations that concluded late Friday, said it will take years for Russia […]

Tory wants domestic flights to be taxed out of existence

Flights within the UK should be taxed almost out of existence, a leading Tory MP said today. Tim Yeo, who chairs the House of Commons Environmental Audit Committee, said he wanted to see “virtually no” domestic flights taking off within a decade. Amid growing clamour over the emissions caused by politicians’ long-haul holiday flights, Mr […]

World’s hungry could be worst hit by biofuel boom

America’s appetite for fuel ethanol could take food away from some of the world’s poorest people. The price of corn and other crops is soaring because of the demand for grain to make ethanol, a gasoline additive, and that means the government’s budget won’t buy as much food as it used to. The price of […]

Powering India

While India remains a power-deficit country where load shedding is a part of life, it could be expected that the private sector could be queuing up to generate power. India’s power sector, therefore, can be compared with a plant whose growth has been stunted. Private sector participation in the power sector is left wanting.Electricity, being […]

Science: solar energy power

If solar energy is to eventually meet most of our electricity needs, batteries would have to be introduced into the power grid — and a lot of them — so the sun’s energy could be stored for night-time use. At the moment, there are no battery banks: power stations are simply cranked up and down […]

Marine bacteria can create environmentally friendly energy source

Bacteria in the world’s oceans can efficiently exploit solar energy to grow, thanks to a unique light-capturing pigment. This discovery was made by researchers at University of Kalmar in Sweden, in collaboration with researchers in Gothenburg, Sweden, and Spain. The findings are described in an article in the prestigious academic journal Nature.In 2000 scientists in […]

Clean air or TV: Where will Asia find more energy?

Too many polluting diesel generators are an energy staple in AsiaThey power everything from irrigation pumps to television sets, allowing growing numbers of rural villages in many poor countries to grow more crops and connect to the wider world. But as the demand increases for the electricity that makes those advances possible, it is often […]

Nuclear power faces reduced share in global energy supply

Nuclear power’s share of global power supply is likely to shrink over the next few decades as political indecision and public opposition stunt its growth. Even optimists do not see a big expansion in nuclear power’s share of electricity production over the next few decades, despite governments warming to it as fears over climate change […]

What’s Behind the Crash in Crude Oil?

Ironically, the two biggest cheaters in OPEC were the two most vociferous price hawks, Iran and Venezuela. After pledging to cut its oil output by 176,000 bpd in December, Tehran left its oil output unchanged at 3.83 million bpd, while Caracas actually increased its oil output by 20,000 bpd last month, after pledging to reduce […]

Chavez OKs Private Firms in Oil Projects

President Hugo Chavez said Saturday his government will allow private companies to own minority stakes in lucrative Orinoco River basin oil projects that Venezuela plans to nationalize. Chavez announced plans earlier this week for the state to take control of the country’s largest telecommunications company, its electricity and natural gas sectors and four heavy crude […]

Venezuela and Iran seek OPEC oil cut

Venezuela and Iran strengthened their growing ties on Saturday with various commercial agreements and a pledge to push for a cut in world oil supplies to counter plunging prices. Venezuelan President Hugo Chavez blamed the United States for undermining the significance of the OPEC cartel to bring down oil prices, which have tumbled 15 percent […]

The Oil Drum: Revisiting the EU Energy Plan and Its Coverage

Now that the dust has settled and that the topic is already out of the news (displaced by Iraq, Beckham going to LA or the fact that oil prices are at record lows), it’s time to revisit the EU energy proposals, by taking a look first at the original material (their press release and their […]

Bad reaction to nuclear power in Alta. oilpatch

CALGARY – Federal Liberal Leader Stephane Dion Friday threw cold water on the use of nuclear energy in the oilpatch and vowed to revisit the oilsands royalty deal. Speaking to the Calgary Herald editorial board, Dion said nuclear energy is not a viable option for use in Alberta’s oilsands due to lingering concerns about whether […]

Big Coal’s Dirty Move

As the world heats up, the coal industry is racing to build more than 150 new power plants before Congress decides to crack down on global warming According to the American Heritage Dictionary, a suicidal act is one that is “dangerous to oneself or to one’s interests; self-destructive or ruinous.” By this standard, the coal […]

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