Cheaper gas seen in 2007

NEW YORK (CNNMoney.com) — Gasoline prices are expected to peak earlier and be about 11 cents lower this year compared to 2006, the government said Tuesday. In its annual summer fuels outlook, the Energy Information Administration said nationwide average regular gasoline prices are expected to top out at $2.87 per gallon in May, compared with […]

Serial car thief only after the fuel

YANGON (Reuters) – A serial car thief in Myanmar who stole 11 vehicles in six months was only after the fuel, which is severely rationed in the military-run former Burma, a police source said on Tuesday. Police caught Maung Myo Win red-handed last month as he was trying to climb into a minivan in downtown […]

The Oil Drum: Further Evidence of Saudi Arabia’s Oil Production Decline

My post is related to Stuart’s and Euan’s stories as my post discusses the declining Saudi Arabia’s future production rates. The discussion about Euan’s and Stuart’s stories further validates Saudi Arabia’s forecast decline. My forecast decline for Saudi Arabia is in disagreement with Euan’s previous statement: “According to my view, Saudi Arabia, together with other […]

A peak by any other name is still a peak

Those who criticize peak oil theory or at least the conclusion that peak oil is nearby find themselves faced with a naming problem. If they believe that oil supplies are for all practical purposes infinite (an idea usually associated with the abiotic theory of oil), they are consigned to the category of people who are […]

Study: Price gouging gas bill costly

WASHINGTON – With Congress potentially moving forward on a law to penalize oil and gas companies for price gouging, a new study says doing so would cost the economy about $1.9 billion during a national emergency on the scale of hurricanes Katrina and Rita. The study, to be released Tuesday by the American Council for […]

Environmentalists cheer pipeline vote

OXNARD, Calif. – An energy company was dealt a serious blow to its efforts to build a floating liquefied natural gas terminal off the Southern California coast when a state panel refused to grant a lease for pipelines essential to the project. The 2-1 decision by the State Lands Commission late Monday was met with […]

India: Centre eyes Gulf, Africa for fertiliser JVs

MUMBAI, APR 9: The Centre has asked the department of fertilisers to explore options of procurement from the Gulf, sub-Saharan Africa and north Africa. It has also asked the department to look into the possibilities of establishing joint ventures in these countries to cater to the growing Indian market. The Centre The demand for diammonium […]

Gas-fired facilities up for sale

CONCORD, NH – …Both plants took a financial beating when the price of natural gas spiked two- and three-fold soon after they went on line. A wave of similar gas-fired projects drove up the price of their fuel and caused a short-term 8,000-megawatt oversupply of power in New England. But no new projects have come […]

TXU seeks to build biggest U.S. nuclear plants

Utility company TXU, which scrapped plans to build eight coal-fired plants when it agreed to be acquired by two private equity firms, is now hoping to build the biggest nuclear power plants in the United States, said the Wall Street Journal. TXU has shifted its focus to nuclear power at a time when three other […]

Can Royal Dutch Shell’s Shale Extraction Technique End ‘Peak Oil’ Paranoia?

Over the past few years, more and more apocalyptic stories have been popping up about a supposed phenomenon known as “peak oil.” The theory is that we’re running out of oil, the big powers are keeping it quiet, and as supplies dwindle, world-wide economic chaos will ensue. This is hardly a new theory. According to […]

Engineer: Offshore Platforms Need More Height

Offshore oil and natural gas platforms in the Gulf of Mexico need to be built as much as 10 feet higher than had been thought, an engineer told the National Hurricane Conference on Thursday. Research prompted by hurricanes in 2004 and 2005 indicates that new platforms should have decks as high as 50 to 60 […]

Now You See It… Now You Don’t

Some of you will recall my observations on recent Chinese web traffic dominating the numbers here at peakoil.com. Well another interesting development has occurred. So one day last year the Great Firewall of China seemed to fall, and with it came a barrage of web traffic to our website. In fact, Beijing alone was a […]

Prodding car makers to sell plug-in electric vehicles

Automakers have expressed interest in producing plug-in hybrids but, so far, none has committed to a certain date. Some experts say consumers can prime the pump with “soft orders.” Here’s an ad we’d like to see: “Car for sale. Late model PHEV. Zippy acceleration, 100 miles per gallon of gasoline, zero tailpipe emissions for typical […]

The ethanol food crisis

The latest “science” report from the Intergovernmental Panel on Climate Change landed Friday, but it contains not a word on the latest climate-science fiasco. Somewhere there should have been a typical IPCC alarm-riddled sentence to alert us to a very real and immediate climate crisis: the ethanol-food disaster. FinancialPost

Exxon to Boost Output a Million Barrels a Day

Exxon Mobil Corp. said it plans on boosting oil output a million barrels a day as the world’s No. 1 oil company begins a three-year strategy to take on 20 new projects thanks to the windfall profits earned in 2006. Exxon Mobil chief executive Rex Tillerson said the company plans on spending $20 billion per […]

Japan gives $850m to develop Iraq’s oil sector

An official at the Iraqi government said that the Japanese government has lent Iraq $850 million repayable over forty years at an interest rate of 0.75 percent yearly, AFP reported. He said that the loan, which is a part of $6 billion in debt and $1.5 billion Japanese aids, aims to construct an oil facility […]

India eyes oil, gas in Uzbekistan, Azerbaijan

Indian state-run firms will scout for oil and gas assets in Uzbekistan and Azerbaijan during a weeklong visit by junior commerce minister Jairam Ramesh from Tuesday, the government said. ONGC Videsh Ltd, the overseas investment arm of Oil and Natural Gas Corp has identified some prospects in Azerbaijan, it said in a statement on Monday. […]

Creating an energy crisis where there is none

They come with metronomic regularity, these media stories about “soaring” gasoline prices and the causes thereof, news stories which always identify the same two culprits, supply and demand. The stories always give various reasons why supplies are tight – more often, why prices include a risk premium based on fears that supplies might become tight […]

Company of the year: Chevron Corp.

The Bay Area is home to many mighty corporate titans whose annual sales and profits stretch into the billions. And none of them made half of what Chevron Corp. made last year. Literally. With oil and gasoline prices stuck at their highest levels in decades, San Ramon’s Chevron brought in $210.1 billion in revenue in […]

Sinopec in Talks on Iran’s Oil Field

China Petroleum & Chemical Corp., best known as Sinopec, said Tuesday it does not plan to buy liquified natural gas from Iran because the price is too high, but that it is in talks on cooperating on oil production. China is scrambling to meet its growing energy needs, and Sinopec had earlier held talks about […]

China March crude imports rise 9% to near record

China’s imports of crude oil jumped 8.9 per cent in March from a year earlier to a near record, official data showed, as refiners took advantage of low prices to build up their stockpiles ahead of a spring demand surge. Net oil product imports fell by 26 per cent from a year ago, suggesting that […]

Use of Nanotechnology in Hydrogen Production

Researchers from the University of Vermont in the U.S. have developed a method for using nanotechnology to create membranes that could improve the process of using sunlight to split water into oxygen and hydrogen to produce electricity. Researcher Walter Varhue said, “If the current efficiency of 6 percent can be increased to 10 percent, you […]

For the Oil Companies, Public Rhetoric = Big Profits

Peak oil will eventually happen, but it is perhaps 30 to 50 years away. But even then, we will not run out of oil. We have centuries left of commercial production, and the transition to other fuels or enabling technologies, such as nuclear, coal, and especially natural gas, may actually prevent the appearance of peak […]

Alberta: Boom in Oil Sands, Retreat in Natural Gas

Canada’s oil-soaked sands are hot while natural gas drilling has cooled, illustrating the long-term nature of one business and shorter-term vulnerability to price swings of the other, analysts say. rigzone

Communities Take Initiative to Combat Climate Change

While the federal government moves slowly to support renewable energy and energy efficiency, cities and towns across the U.S. are adopting green building ordinances or creating funds to encourage energy efficient building design and increase integration of renewable energy systems. renewableenergyaccess

Problems Brewing as EU Farmers Switch to Biofuels

European beer brewers may face increasingly tight malt supplies later this year as farmers switch to grains for biofuel production, the head of a leading German malt marketing company said on Thursday. “Malt producers will have to change their thinking and accept that sufficient supplies of malting barley are not going to be automatic and […]

There is climate change censorship – and it’s the deniers who dish it out

The drafting of reports by the world’s pre-eminent group of climate scientists is an odd process. For months scientists contributing to the Intergovernmental Panel on Climate Change tussle over the evidence. Nothing gets published unless it achieves consensus. This means that the panel’s reports are conservative – even timid. It also means that they are […]

India to depend on renewable sources to meet energy needs

India will be dependent on renewable sources such as solar, hydro and biofuels to meet 50 per cent of its energy requirements by 2050. Through the use efficiency measures the country will also be able to reduce 50 per cent of its energy consumption.In an outlook commissioned by Greenpeace and European Renewable Energy Council and […]

India To Double Uranium Production

Indian scientists Monday said that in 2007 uranium production in the country would double. According to the officials of the Department of Atomic Energy (DAE), only four imported reactors – two at Tarapore in Maharashtra and two in Rajasthan – are actually under inspection by the International Atomic Energy Agency (IAEA).The country is preparing to […]

PG&E Demonstrates Vehicle-to-Grid Technology

Pacific Gas and Electric Company, California greencarcongress

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