The Alchemist in the Oil Patch

Most of their remaining reserves are difficult to produce, so Vladimir Putin and Hugo Chavez wouldn’t have kicked the big oil companies out if they hadn’t planned on granting major development projects to big service companies like Schlumberger, Baker Hughes, and Halliburton. Yet despite having access to the best oilfield technology in the world, most […]

EU: Piebalgs warns against Gazprom dominance

Russian energy giant OAO Gazprom should not be allowed to dictate Europe’s energy supply, a senior EU official said Friday, adding that the coming, EU-mandated switch to less-polluting renewables will entail additional costs for many. “I am not worried about dependence on Russia in oil as long as we have diversity of supply,” European Energy […]

ConocoPhillips sees global energy costs rising 10% annually

ConocoPhillips, the third-largest US oil company, said it sees global costs for energy developments continuing to spiral up, rising at an annual rate of 8% to 10% and squeezing profit margins. gulf-times

G7 mulls better use of oil money, China reserves

Saudi Arabia, United Arab Emirates, China, and Russia discussed with G7 nations how surpluses derived from oil sales should be invested and Beijing’s plans to more actively manage its foreign reserves, a senior Japanese finance ministry official said late on Friday.China’s vice finance minister and deputy central banker also told participants about the country’s plans […]

The New Oil

Canadian water is on the table at trilateral talks between politicians, businessmen and academics from Canada, the U.S. and Mexico, CanWest News Service has learned. A series of closed-door conferences for the North American Future 2025 Project will include the discussion of “water transfers” and diversions. canada

China: Trillion Dollar Investment Blues

As China’s foreign exchange reserves continue their explosive growth, questions about the ways the country’s financial mandarins manage its pool of wealth are growing both inside and outside China.Most of China’s currency reserves are invested in U.S. dollar-denominated debt, such as U.S. treasuries, earning a low but steady return. Some in Washington and world markets […]

Venezuela’s Oil Gambit

Years of threats and bluster over the operations of U.S. and European oil companies in Venezuela turned more serious this month as President Hugo Chavez set a May 1 deadline (NYT) for nationalizing several major foreign petroleum projects. Chavez’s announcement prompted fear from oil executives, but many analysts say the move could be even more […]

What GAO Peak Oil report?

An important piece of internationally significant news drops down through the cracks of Canada’s media On March 30th, I noticed that both CBC and CP (Canadian Press, which is Canada’s own version of the Associated Press), were not running stories about the GAO report. I emailed both organizations asking why they were missing out on […]

Peak oil: Get ready for it, says GAO

Previously the worry of obscure engineers in technical reports, now the prospect of declining global production of oil is front and centre on the desks of all policy makers What is striking about this report is that its authors don

State’s (CA) drivers are pumping less gas

The price of gas really does matter after all. There were more cars than ever in California in 2006, but for the first time in 14 years, the state’s motorists bought less gasoline than the year before. The drop in sales was meager LA Times

Report: Army Corps needs major overhaul

The Army Corps of Engineers needs to acknowledge that the world is heating up and seas are rising to better protect the nation from flooding and hurricanes, according to a report by two environmental groups.

The report said unless the Corps prioritizes its projects to base them on flood risk, more disasters like Katrina will happen as the seas become more dangerous and flood control structures are taxed by heavier rains and bigger spring floods.

Yahoo News

Author warns of oil catastrophe

An award-winning investigative journalist who was born in Sudbury is warning that the world faces a terrifying energy crisis as its oil supplies run out. David Strahan quit his job with the BBC to spend two years researching and writing his new book, The Last Oil Shock. The book, which has just been published, is […]

We’re preparing for a crisis

…Now, here’s the thing. We eight have come to believe that a crisis is coming If it is an oil shock, no one is going to be unaffected. There will be disruption and suffering, and probably chaos. Having a place to connect with others is gonna be vital. We will be in it together. Nobody […]

Gas supplies low heading into summer season

OTTAWA — Refinery problems in the United States have driven up petroleum prices around the world, the International Energy Agency said yesterday, and analysts say refiners are going to have to run full-out to build inventories before the summer driving season. In its monthly report, the Vienna-based IEA said global crude output was down sharply […]

Saudi Arabia’s Manifa project expected to boost oil production

DUBAI, United Arab Emirates: State-run Saudi Arabian Oil Co., or Saudi Aramco, is expected to produce an extra 900,000 barrels a day of crude within four years from its Manifa oil field project, Dow Jones Newswires reported on Thursday. According to a statement on Aramco’s Web site, plans for developing the Manifa field in the […]

Schwarzenegger to Michigan: Get off your butt

WASHINGTON — California Gov. Arnold Schwarzenegger pulled no punches Wednesday in telling Detroit automakers to “get off your butt” and increase the fuel efficiency of their cars and trucks, saying they are “still lagging behind.” Schwarzenegger’s comments came as he responded to a billboard that went up last month along Interstate 75 in Detroit that […]

Conspiracy: If You’re Not In One, You Need to Start One

This past weekend I received a call from two friends who with their three children are facing foreclosure on their home. For the past three years I have been warning them about an impending housing bubble, but like many families, they never believed it could actually happen to them. At the beginning of the conversation […]

Spring Break – Kunstler

Last week, I was in Illinois walking the majestic Beaux Arts-vintage main quad of the State U in Champaign-Urbana. The flowering trees were in full bloom, the grass was green and speckled with dandelions, and the leaves on the privet hedges were unfurling. Then I came home to upstate New York where everything is brown, […]

Old marine terminals seen as a danger

LOS ANGELES – A tanker was unloading a highly flammable chemical when the wake from a passing ship pulled the vessel 20 feet from the dock. The tanker’s hoses were stretched almost to the breaking point before the vessel slammed back into its aging berth, splintering more than a dozen beams, state officials say. That […]

Energy Biosciences Institute to focus on socio-economic impacts of bioenergy

The global transition towards biofuels and bioenergy is much more than a mere agricultural revolution. It is a complex process of change with impacts on a large number of socio-economic factors. In this respect, we have stressed many times that biofuels and bioenergy projects can go different ways: if implemented in a bad way, they […]

Violence threatens oil, Iraq

Two Shiite political factions seem to have temporarily set down their arms in Basra, Iraq’s second-largest city, the center of its oil industry and the port through which all Iraq’s income flows. But the area and the oil sector still face violence while militias and gangs battle for power and control of the oil smuggling […]

Corn-propelled

THIS year’s IndyCar Series, America’s Economist

Scottish National Party

Scottish independence would enable the financing of such measures, the SNP claims, by giving the country control of its energy policy and most notably North Sea oil and gas revenues. WSWS

Understanding OPEC: Cheaters Never Win

Baseball is a frustrating sport, and not just because there’s all that standing around waiting for something exciting to happen. No, it’s frustrating because unless your home team is the Yankee’s, you’re at a disadvantage. See, the Yankee’s have more money than God, and therefore, they simply play the game by a different set of […]

Nissan, NEC to Make Green Batteries

Nissan and electronics maker NEC will produce batteries for ecologically friendly vehicles, the companies said Friday, signaling efforts by the Japanese automaker to catch up with rivals that have a head start in green technology. Nissan Motor Co., Japan’s No. 3 automaker, and NEC Corp. are investing 490 million yen ($4.1 million; 3 million euros) […]

Supply fears send oil to $69

The price of Brent North Sea crude oil struck a seven-month high of $69.59 a barrel this morning on concerns that current oil supplies may not meet demand. Brent later stood at $69.20, up 48 cents from Thursday’s close. New York’s main oil futures contract was up 24 cents at $64.09 after surging by almost […]

What Will Be the Biofuels Demand Scenario in India in 2010?

The BusinessWire

Germans demand China signs oil pact

An international initiative to promote transparency in the oil industry’s often-murky finances will fail unless China participates, a German official said on Thursday. The Extractive Industries Transparency Initiative, supported by more than 30 governments and 25 oil, gas and mining companies, will achieve a “level playing field” against corruption only if Beijing joins, said Bernd […]

China Reiterates: East China Sea Gas Projects are in EEZ

China on Thursday repeated that its gas exploration projects in the East China Sea, seen as problematic by Japan, are in China’s exclusive economic zone. The comments reiterating China’s official position came after Chinese Premier Wen Jiabao said in a speech in Tokyo that the two countries should shelve their disputes and try to find […]

Chavez: Troops to escort oil takeovers

President Hugo Chavez said Thursday that soldiers will accompany government officials when they take over oil projects in the Orinoco River basin next month. Chavez has decreed that Petroleos de Venezuela SA, or PDVSA, will take a minimum 60 percent stake in four heavy-oil projects in the Orinoco River region and invited the six private […]

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