West looks to bypass Russia for energy

Obscure republics of the former Soviet Union have taken centre stage in the new Cold War: the struggle to secure supplies of oil and natural gas. Daniel Fried, an assistant secretary of state at the State Department, says: “It is important to develop multiple routes and non-Russian routes, but that doesn’t mean anyone is going […]

In Europe the bell tolls for energy

Last week 51 experts and representatives of oil giants from across Europe gathered for three days to discuss the continent’s energy challenge at a Wilton Park Conference in England. The original aim of Wilton Park Conferences, the first of which was realized by Winston Churchill 61 years ago, was to create a more democratic England. […]

Oil prices still likely to fuel global slowdown

Consumers and companies alike are breathing a sigh of relief at lower oil prices — except those in the oil patch, of course. The question is how will this relief affect the economic outlook? It is a good idea to review the path oil prices have taken, as perceptions can be distorted by recent history.London […]

Vietnam Leader Urges State Oil Company to Halt Slump in Output

Vietnam Oil & Gas Group, known as PetroVietnam, should move urgently to open new fields and halt a drop in output from Southeast Asia’s third-biggest oil producer, Prime Minister Nguyen Tan Dung said. Vietnamese crude oil production totaled 17.3 million tons last year, or about 355,000 barrels a day, down 8 percent from output of […]

Hungry for oil

Dwindling oil stocks could cause the UK to be vulnerable to food shortages for the first time since the second world war. The fact of dwindling finite fossil fuel reserves is simply non-negotiable – and the implications of it are enormous. Petroleum has become the lifeblood of both industrialised and developing countries. It would be […]

Iran in $10bn initial gas deal with Repsol, Shell

Iran said yesterday it had signed an initial deal worth $10 billion with Spain’s Repsol and Royal Dutch Shell to produce liquefied natural gas (LNG) from the South Pars gas field. gulf-daily-news

Getting Serious About Alternative Energy

More on that in a moment. First, let’s be clear: Oil is different from other products. If the French offend me, I can buy wine from Australia instead. If the price of beef goes up, I can dine on lamb. But oil enjoys a kind of monopoly: If you drive a car, you have no […]

The Politics of Cheap Oil

Oil prices may be falling, but hold off the cheering. Yes, cheaper oil leads to cheaper gasoline, and that’s good for America. At least, that’s the common wisdom, particularly among the neoconservatives. But there is plenty of downside to cheaper oil and those deleterious effects rarely get discussed. petroleumworld

Food Prices in Iran & Mexico Increasing Due to Demand for Oil & Grain

Last week The Daily Reckoning reported on the dailyreckoning

Bernanke, Trichet May Find Cheaper Oil Raises Inflation Risks

Plunging oil prices are relieving one inflation headache for central bankers Ben S. Bernanke and Jean- Claude Trichet, only to give them another. The same lower energy bills that are removing a source of inflation are also stoking the world economy at a time when it is already growing briskly. That may be enough to […]

Recent Trends & Year Ahead for Oil Market

On the supply side, the report estimates that there was an oversupply of crude by 0.9 million bpd, on average, in 2006. In this context, it is remarkable that non-OPEC crude oil production has increased by a measly 700,000 bpd in 2006, despite three years of high oil prices and huge investments in explorations around […]

Some experts blast latest climate report

Later this week in Paris, climate scientists will issue a dire forecast for the planet that warns of slowly rising sea levels and higher temperatures. But that may be the sugarcoated version. Early and changeable drafts of their upcoming authoritative report on climate change foresee smaller sea level rises than were projected in 2001 in […]

China’s Oil Demand, Supply to Be Balanced This Year

China’s oil demand and supply will be balanced this year as the world’s second-biggest energy user bolsters stockpiles and boosts fuel conservation, the nation’s top economic planner said. Tightness in coal and power supplies in China will ease in 2007, the National Development and Reform Commission said in a statement distributed at the government’s 2006-2007 […]

Coal is cheap in short run, but it will prove costly in end

Coal as a fuel has one thing going for it: cost. It’s cheap because it’s still plentiful. That’s why some 150 new coal-fired electrical plants now sit on drawing boards around the country, and many more around the world. In the short run, coal amounts to the cheapest means of generating electricity. In the longer […]

Whose Iran?

In part, last month nytimes

5 Myths About Suburbia and Our Car-Happy Culture

They don’t rate up there with cancer and al-Qaeda — at least not yet — but suburban sprawl and automobiles are rapidly acquiring a reputation as scourges of modern American society. Sprawl, goes the typical indictment, devours open space, exacerbates global warming and causes pollution, social alienation and even obesity. And cars are the evil […]

The Oil Drum EU: The electric wheel – a breakthrough in car efficiency

Since the first automobile emerged in the 1880’s, the design of a car with an internal combustion chamber has been prevalent in human society. The car industry and the oil industry have become interdependent on this design, based on the combustion of crude oil. This interdependence can be observed in the struggle for survival of […]

Energy crisis as power cuts loom

SCOTLAND is on the brink of a power crisis after an accident at one of the country’s biggest electricity plants massively reduced supplies to the national grid. Emergency legislation will be rushed through the Scottish Parliament early this week to allow Longannet power station, Fife, to burn gas as well as coal in a bid […]

Washington wakes up to global warming

NEW YORK – Maybe it’s the weird winter weather, or the newly Democratic Congress. Maybe it’s the news reports about starving polar bears, or the Oscar nomination for Al Gore’s global warming cri de coeur, “An Inconvenient Truth.” Whatever the reason, years of resistance to the reality of climate change are suddenly melting away like […]

Solar home in Va. getting high marks

RICHMOND, Va. – State Sen. Frank Wagner is staying warm at his temporary address, even in below-freezing weather and without a traditional power supply or fireplace. The Virginia Beach Republican, a proponent of alternative energy sources, is living for a week outside the Science Museum of Virginia in a solar-powered house designed and built by […]

Local lawmaker between coal and a hard place in power plant battle

Protests are planned, lawsuits are pending and the debate continues to rage over one of the hottest issues currently facing Texas: the state Last February, Averitt, R-McGregor, was appointed by Lt. Gov. David Dewhurst to serve as chairman of the Senate Natural Resources Committee. The 80th Texas Legislature will mark Averitt

The greatest challenge

Although global warming and sustainability have become increasingly common in sermons, not many have included peak oil. For decades, many prophets Losing weight – more food for others We in the United States have achieved the status of the world

Iraqis: Oil law won’t favor Americans

BAGHDAD, Iraq – Iraqi officials say a hotly debated proposed oil law will not favor Americans but acknowledge that foreign companies will be allowed to take their profits out of the country Published reports in the Middle East said the proposal would provide for so-called product sharing agreements that would give international oil firms 70 […]

Korean Air overbidding for S-Oil stake

Acquisition unlikely to offer big returns for the carrier, experts say Korean Air Lines Co.’s takeover bid for treasury shares of S-Oil Corp. may weigh on bottom lines of the air carrier and have limited positive effects, analysts warned. They are particularly concerned that the stock purchase would not help cut fuel costs as much […]

Expensive, wasteful ethanol can’t solve our problems

In his State of the Union address on Tuesday, President Bush spoke a lot about energy independence and alternative energy sources like ethanol. According to the president, ethanol is the magical elixir that will solve virtually every economic, environmental and foreign policy problem on the horizon. In reality, it’s enormously expensive and wasteful. Lie No. […]

China admits to climate failings

…Yet, with a fifth of the world’s population, China consumes only 4% of the world’s daily oil output, importing about three million barrels a day. But its unrelenting economic growth will continue to fuel a voracious appetite for energy. Current plans call for the opening of a new power station every week, most of them […]

NZ: The search for our oil and gas

The biggest offshore oil and gas drilling effort New Zealand has seen is about to begin.Rogue icebergs roaming rough South Island waters, where the government hopes to lure the biggest names in world oil, loom as the smallest hurdles in the search for new oil and gas. More critical by far will be finding oil […]

Ukraine plans to raise uranium output to lower energy cost

Ukraine plans to increase its annual uranium production to 1,400 tons within a period of three years, up 75 percent from the current 800 tons, Energy Minister Yuriy Boiko announced on Friday. The increase is part of a 10-year plan to lower the cost of nuclear power generation, the minister said. Boiko made the announcement […]

Blair Backs Nuclear Power to Tackle Climate, Energy Security

The U.K. needs nuclear power to meet its twin challenges of securing energy supplies and reducing emissions of gases that cause global warming, Prime Minister Tony Blair said. “I don’t think we will tackle climate change” and energy security “effectively unless nuclear power is part of it,” Blair said in Davos, Switzerland, where he’s attending […]

Facts and impact of oil on Sudanese domestic and Intl relations

Since its independence of Britain and separation from Egypt in 1956, Sudan has enjoyed only 11 years of relative stability and peace. The oil discoveries in Sudan, in the late 1970’s have additionally aggravated the political and economic situation in Sudan. The oil discoveries played a pivotal role in igniting the second civil war in […]

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