Saudi Aramco to Cut Oil Supply to Asia a 7th Month

(Bloomberg) — Saudi Aramco, the world’s largest state oil company, will maintain a cut in crude oil supply to Asian refiners for a seventh month in May. Saudi Aramco will reduce mainly contracted supply of its Arab Heavy crude exports, said three refinery officials who received notices and asked not to be identified because of […]

It’s time to face reality of finite oil supply

What will happen when the Age of Oil ends? If you want to understand the ultimate effects, just visualize a crowded interstate highway with four lanes of traffic speeding in each direction. Then imagine what would happen if all the cars and trucks suddenly stopped — not only on that highway but on roads all […]

Inside, confidential, off the record: Cantarell Inevitable

Mexico’s Cantarell oil field, the world’s second largest producer, is not just beginning to dry up, it is falling dramatically, totally in line with what Peak Oil addicts would predict. Just in the last year daily production fell by 20 percent. It is now producing about 1.6 million barrels per day, down from two million […]

Bow Valley Energy Announces Alaska Oil Discovery

Bow Valley Energy Ltd. and its joint venture partners Brooks Range Petroleum Corp (“BRPC” or “Operator”), AVCG, LLC, TG World Energy Corp and Ramshorn Investments, Inc. announce the results of a two well exploration program on the North Slope of Alaska resulting in one discovery and one dry hole. Bow Valley holds a twenty percent […]

Russia mulls new oil pipeline project to bypass Belarus, Poland

The industry ministry has proposed building a second leg of an oil pipeline to Europe bypassing Belarus and Poland to reduce Russia’s dependence on transit countries, the ministry’s press service said Thursday. Energy pricing row with Belarus at the beginning of 2007 has led to the suspension in Russian energy supplies to Europe and undermined […]

Getting a Grip. Know Nukes

With global warming threatening famine, disease, mass extinctions and massive coastal flooding, and with peak oil threatening to take down the global economy while shredding our social fabric and proving obsolete the whole concept of auto-based culture and suburbia, suddenly nuclear energy looks promising. In true hedonistic American fashion, we can have our cake, lots […]

OPEC Oil Output Falls 80,000 b/d in March, But Still Above Target

The 10 members of the Organization of Petroleum Exporting Countries (OPEC) bound by the group’s output agreements produced an average 26.54 million barrels per day (b/d) in March, a Platts survey showed April 11. This is down 80,000 b/d from February’s 26.62 million b/d but still 740,000 b/d above the group’s 25.8 million b/d production […]

Rising oil prices fuel inflation?

Brazil meets 70 per cent of its energy needs from ethanol and many countries, including the US, are trying to catch up as they have huge farmlands available for use for crops other than grains- Lalit Sethi Petroleum prices have started racing to $70 a barrel after staying below $60 for the better part of […]

IEA trims 2007 global oil demand forecast

The International Energy Agency revised its 2007 global oil product demand forecast down slightly, citing continued weather-related demand weakness in industrialised countries of the OECD. The Paris-based energy watchdog said in a monthly report it now sees global oil product demand standing at 85.8 mln bpd in 2007, representing a 250,000 bpd downwards revision from […]

Iraq hopes to up oil output by a third

Iraq hopes to raise oil production by nearly 1 million barrels per day (bpd) this year, achieving its long-held target of 3 million bpd by restoring northern exports, its oil minister said on Thursday. Iraq has struggled to overcome the sabotage and outdated infrastructure that has hobbled its production since the U.S.-led invasion of 2003, […]

Venezuela’s President Aims to ‘Knock Down’ U.S.-Brazil Ethanol Deal

The U.S. and Brazil are planning to cooperate to promote ethanol as a cleaner burning alternative to gasoline, but Venezuelan Hugo Chavez sees things a little differently. “Substituting the consumption of gasoline with ethanol, produced from corn – it’s true madness,” the Venezuelan president said in a speech on Tuesday. Chavez and Fidel Castro have […]

Angola, Saudi to lead OPEC oil capacity rise – IEA

OPEC oil output capacity growth of some 2.6 million barrels per day this year and next is heavily skewed towards new member Angola and leading exporter Saudi Arabia, the International Energy Agency said on Thursday. Together, the two nations are on course to account for half the net increase that will take OPEC capacity from […]

Doomsday for the Greenback

Iraq has proven that the US military can no longer enforce dollar-hegemony through force of arms. New alliances are forming that are reshaping the geopolitical landscape and signal the emergence of a multi-polar world. The decline of the superpower model can be directly attributed to the denominating of vital resources and commodities in foreign currencies. […]

Nationalize oil industry, save at pump

Canada must nationalize its oil and gas industry to help lower the cost at the pumps by a third, says a Quebec accounting professor. Leo-Paul Lauzon said yesterday that Quebec could also build a refinery with independent dealers and negotiate directly with oil exporting countries. HamiltonSpectator

Oil Executive Predicts Future Energy Crisis

cornellsun

The Peak Oil Crisis: Alternatives

Something few of us are aware of is the massive waste built into the energy systems we have built over the last 100 years. This week, I am going to talk about electricity generation, but the same point can be made about the internal combustion engine which is a monument to inefficiency. fcnp

Oil Companies May See An Ebb In Profit Gusher

The doubling of oil prices over the past few years has produced enormous windfalls for oil companies. But those record profits are likely to recede in the years ahead — even if oil prices don’t — as oil-producing nations increasingly demand a bigger share of the wealth. rigzone

China Aims to Clean Up in Solar Power

China is home to some of the most polluted cities on the planet and likely will overtake the U.S. as the biggest emitter of greenhouse gases by the end of the decade. Yet while China’s “dirty dragon” image is well-deserved, Beijing officials are also deadly serious about investing in solar power capacity at home and […]

$2.5 trillion investment in new coal-fired plants

World coal-fired power generation capacity will rise from 1.3 million MW in 2006, to 1.7 million MW in 2011, and to 2.7 million MW in 2030, according to a new report. This will require more than 1.7 million MW of new coal-fired construction to account for retirements as well as growth. The investment in these […]

Warming could spark water scramble: experts

Climate change could diminish North American water supplies and trigger disputes between the United States and Canada over water reserves already stressed by industry and agriculture, U.N. experts said on Wednesday. yahoo

New Joint Venture Targeting Biofuels from Plasma Arc Gasification of Waste

MPM Technologies Inc. (MPM) and Losonoco Inc. have formed a new joint venture company, Losonoco Skygas, LLC, to develop biofuel and chemical manufacturing facilities based on the Skygas waste gasification process. greencarcongress

Pentagon Considering Study on Space-Based Solar Power

The Pentagon’s National Security Space Office (NSSO) may begin a study in the near future on the possibility of using satellites to collect solar energy for use on Earth, according to Defense Department officials. yahoo

Annual U.S. Wind Power Rankings

The U.S. wind energy industry installed over 2,400 megawatts (MW) of new power generation in the country, an investment of about $4 billion, making wind one of the largest sources of new power generation in the country at a time of growing electricity demand. Total installed U.S. wind power capacity is over 11,600 MW, or […]

Texas is top state for alternative fuel

Texas had 966,365 alternative-fuel vehicles on the road in 2006, according to a report by the Auto Alliance, a trade group of nine automakers. More than half a million of those were diesel vehicles, 415,207 were flex-fuel vehicles and 22,453 were hybrids. mysanantonio

As climate worries grow, cities turn green

(Business 2.0 Magazine) — Green roofs aren’t the future: They’re already here. In Chicago, 2.5 million square feet of downtown roof space is now covered with hardy plants such as sedum and prairie grass–the better to lower heating and air-conditioning costs (by 10 percent or more) and dramatically reduce rainwater runoff. The Windy City’s rooftops […]

U.K.: Will your home fail the new energy test?

Hundreds of thousands homes are likely to be given a poor ‘green’ rating under the Government’s new energy efficiency tests. From 1 June, all houses put up for sale will have to undergo a ‘green’ audit costing up to But London’s ageing housing stock means many owners are in for a shock, experts told the […]

China Plans to Boost Oil and Gas Output to Meet Booming Demand

BEIJING, Apr 10, 2007 (Xinhua via COMTEX) — China plans to produce 193 million tons of crude oil and 92 billion cubic meters of natural gas in 2010, said the nation’s top planning agency. China will apply new technologies and increase investment to boost oil and gas output, according to the Eleventh Five-Year Plan for […]

Sliding U.S. gasoline stocks spook energy market

NEW YORK (Reuters) – A steep slide in gasoline stockpiles in the United States sparked concern of a potential supply crunch when drivers hit the roads this summer, pushing up oil prices on Wednesday. The climb in prices came against the backdrop of simmering tensions between the United States and oil exporter Iran, and production […]

German company invests

The biofuel opportunity is reaching some of the least accessible and poorest regions of the planet, namely the Oromia region in central Ethiopia. German company Flora Eco Power is investing what local people see as an ‘enormous’ 671 million birr (Biopact

Al Qaeda claims deadly Algiers bombings

ALGIERS (Reuters) – Bombs killed 30 people in Algeria’s capital on Wednesday, attacks claimed by al Qaeda that raised fears the north African oil exporter was slipping back into the intense political violence of the 1990s. One of the blasts, believed to be a suicide bombing, ripped part of the facade off the prime minister’s […]

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