Venezuela nationalises foreign oil rigs

The Venezuelan government of firebrand President Hugo Chavez said yesterday it was taking control of oil rigs from multinational firms, in the latest of a wave of nationalisations. Energy Minister Rafael Ramirez, who also heads the state-owned energy company PDVSA, said the firm had in the past ceded control of 18 offshore drilling platforms to […]

Nigeria: Oil insurgency enters new phase

As militias in the Niger Delta renew attacks on the country’s foreign oil installations, some analysts forecast outside intervention to secure oil assets, while others say that is only a remote, and dangerous, possibilitySperoForum

China’s oilfield of dreams

The biggest petroleum discovery in China in four decades has Beijing confident that it can continue oiling the wheels of economic progress well into the future. It will also, officials hope, assuage fears about the “China threat” to global energy securityAtimes

China

Chinaoilweek

Qaeda Suspects Planned Attacks on Saudi Oil

Four suspected al Qaeda members arrested in Saudi Arabia last year had planned to attack the kingdom’s oil facilities and other Gulf Arab oil producers, they said in confessions shown on Saudi television on Tuesday. Saudi police arrested the four in April last year in connection with a failed attack two months earlier on Abqaiq, […]

Sectarian conflict looms over Pakistan, says study

Sectarian violence marked by the Shia-Sunni conflict threatens to engulf Pakistan as the current century gets underway, predicts a new study released here last week. The study, the first of its kind, was completed by Khaled Ahmed, contributing editor at Daily Times, who conducted his research during the last nine months as a visiting scholar […]

US gasoline prices hit record as crude rises

American motorists are paying record-high prices at the pumps in the run-up to summer vacation season as operating problems at the nation’s oil refineries cut deeply into fuel stockpiles, travel and auto group AAA said yesterday. US average gasoline prices climbed to a record-high average of $3.073 a gallon yesterday, narrowly exceeding the previous peak […]

Can Capitalism Be Green?

Capitalism has proven to be environmentally and socially unsustainable, so future prosperity will have to come from a new economic model, say some experts. What this new model would look like is the subject of intense debate. Instead, greener, cleaner and dematerialised growth is seen as the solution to “one-planet living”. Marks says these are […]

Urban green spaces could offset global warming until 2080s

Scientists looking at the effect global warming will have on our major cities say a modest increase in the number of urban parks and street trees could offset decades of predicted temperature rises. The University of Manchester study has calculated that a mere 10% increase in the amount of green space in built-up centres would […]

Space solar power: why do we need it and what do we need to get it?

Professor Nocera makes it clear that neither conservation nor wind, nuclear, hydro, or biomass energy sources are going to be able, even when taken together, to fill the demand for energy that any reasonable standard of living will require. China and India alone will need more energy than is produced today by the entire planet. […]

Five Leaders Make Caspian Energy Security Agreement

Leaders from five European and Caspian Sea nations agreed Saturday to work together on energy security issues and on a possible extension to Poland of a pipeline carrying Caspian oil. Polish President Lech Kaczynski, who met in Krakow with his counterparts from Lithuania, Ukraine, Georgia and Azerbaijan to discuss ways of lessening Russian dominance in […]

National security consequences of oil dependency

The United States is the largest oil importer in the world, bringing in 13.5 million barrels per day (mbd), which accounts for 63.5 percent of total U.S. daily consumption (20.6 mbd).[1] Oil from the Middle East–specifically, the Persian Gulf–accounts for 20 percent of U.S. oil imports, and this dependence is growing. By 2017, the U.S. […]

With consumption of oil exceeding new finds, Peak Oil crisis is almost here

Peak Oil concerns arise not from the complete exhaustion of known reserves but the zero growth in world production of conventional oil in last six years. Simply put the world’s consumers are using more oil than the oil companies are finding. Some oil fields e.g. in southern USA have been worked to exhaustion, with old […]

Bush doesn’t want detente. He wants to attack Iran

In the next few days an unprecedented meeting between US and Iranian officials is expected to take place in Baghdad; both sides have insisted that discussions are limited to Iraq. Could this first official encounter since the Islamic revolution herald detente between Washington and Tehran? The EU chose to follow Washington’s lead. The proposals of […]

World’s mayors hold climate change summit

Mayors and business leaders from more than 40 of the world’s biggest cities were gathering in New York Monday for a summit devoted to combating climate change and cleaning up the environment. Leaders from Seoul to Sydney and Mumbai to Mexico City are expected at the C40 Large Cities Climate Summit, billed as helping to […]

China’s leap to fuel cells

If your city’s air was as bad as Los Angeles’ — or worse — you might do something about it, too. And if you could do it before half the people bought their first cars, all the better. Shanghai could become the first city in the world to build an infrastructure to support the use […]

Alternative Fuel Cars of the Future

We’ve heard it all before: Awesome alternatives to gasoline-powered carsBut over that time, multiple technologies will slowly chip away at that dominance. “The only question is how quickly these alternatives are going to enter the mix,” Cunningham says. What follows is our assessment of the current status and the future of the key alternatives to […]

Venezuela Fines Conoco Phillips $465M for Not Signing Away Refineries

Venezuela said Friday it had levied the largest tax bill in the nation’s history on an oil project led by ConocoPhillips, the lone holdout in President Hugo Chavez’s oil nationalization crusade. The move comes only days after the nation’s energy minister said Venezuela is in “conflict” with Conoco over its refusal to sign an accord […]

Why a gasoline boycott won’t work

The ‘Don’t pump gas on May 15′ chain e-mail may be a natural response to record prices and profits, but experts say it’ll do no good. It’s easy to hate Big Oil. Gasoline prices are at record highs, over $3 a gallon. Oil companies have so much cash they can’t figure out where to spend […]

Bush orders rules meant to curb greenhouse gases

WASHINGTON (AP) — President Bush responded Monday to a Supreme Court ruling by ordering federal agencies to find a way to begin regulating vehicle emissions by the time he leaves office. In a Rose Garden announcement, Bush said he wanted to move ahead, pending any separate legislative approaches. The new rules will “cut gasoline consumption […]

The Oil Drum: Depletion Levels in Ghawar

Ghawar is the largest conventional oil field in the world. The field is entirely owned and operated by Saudi Aramco, the nationalized Saudi oil company. Relatively little is known about Ghawar because the company and Saudi government closely guard field performance information and per-field production details. Available information is predominantly historical (pre-nationalization), from incidental technical […]

Power shortage in Pakistan will grow to 2,500MW in 2 months

The current spate of energy shortage would more than double to 2500MW in the next two months and the deficit would remain unmet even in the coming winter when demand for power falls drastically. There will be no let-up in the load-shedding This has been estimated by the government and Water and Power Development Authority […]

Nepal still facing petroleum shortage

Panic over poor availability of fuel continued throughout the country, as Nepal Oil Corporation (NOC) pumped out limited supply of oil amid the Indian supplier IOC’s silence over issuing normal supplies to Nepal, local media reported on Monday. While corporation officials expressed optimism about receiving “good news” from IOC on Monday, NOC deputy general manager […]

Interview with Opium for the Masses, an Intelligent Band for Discerning Listener

…So your interest in making music is a ploy to draw attention to the world It takes energy to make energy, so it is never even implied that energy input closely matches energy output. As an example we’ll speak of hydrogen. Hydrogen is a type of energy storage, it’s not a natural resource we can […]

Shell exec: Oil prices could continue to rise

Unless Congress allows expanded drilling on the outer continental shelf of the United States, fuel prices are going to continue to increase, the head of the Shell Oil Company told TODAY. …The good news, he said, is

U.K.: Brown to build five eco towns

GORDON BROWN will attempt to trump David Cameron on green issues by announcing that he will create five new environmentally friendly towns when he becomes prime minister. The chancellor, now certain to succeed Tony Blair and enter No 10 on June 27, will tomorrow set out his plan to build 100,000 houses in the five […]

Big Oil buys Sacramento

Why you’re not hearing a peep from California politicians on record-high gas prices. WHO’S AFRAID of Big Oil? Apparently, California’s elected officials. Gasoline prices are stuck well above last year’s record highs and about 50 cents above the national average. Yet state politicians are not saying or doing a thing, except for raking in political […]

WTI Benchmark Temporarily Breaks Down: Is It Really a Big Deal?

Since the adoption of formula pricing in 1986, West Texas Intermediate (WTI) has served as one of the main international benchmarks, along with Brent and Dubai, against which other types of crude oil are priced. While Brent remains the dominant benchmark for oil pricing outside the US, the latter It has long been recognized that […]

Here’s how you can lower gasoline prices

With just two, simple, no-cost steps, drivers could send prices tumbling Our column last week The fact that the e-mail has generated such a “buzz” tells you how frustrated we are with Big Oil Companies, the Oil War in Iraq, the Bush Oil Administration in Washington, and the enemies in the Middle East to whom […]

U.S. loans for coal plants clash with carbon cuts

A Depression-era program to bring electricity to rural areas is using taxpayer money to provide billions of dollars in low-interest loans to build coal plants even as Congress seeks ways to limit greenhouse gas emissions. That government support is a major force behind the rush to coal plants, which spew carbon dioxide that scientists blame […]

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