Of things to come

Is price gouging being carried out by the big oil and gas companies? Of course. Is there anything to be gained by consumers from the high prices? Probably. As gas prices soar in the past few days, so does the chorus from consumers who believe they are being hosed at the pumps. Washington State is launching […]

Qatar: Woqod denies shortage of super petrol

WOQOD, Qatar Woqod

Michael T. Klare: Where is the USS Nimitz?

In the latest flurry of media coverage on U.S.-Iranian standoff, the mainstream media has neglected to mention that the United States is massing warships in the Persian Gulf. Why? Looking down from the captain’s deck some six stories high, the flight deck of the USS Nimitz is an impressive sight indeed: 80 sleek warplanes armed […]

Nuclear power no sure cure for climate ills

…the Council on Foreign Relations, a Washington think tank, says it is almost impossible to build enough nuclear power plants to arrest the rise in earth temperatures. It would be hard for the nuclear industry to procure large amounts of reactor-grade construction materials and hire enough trained workers, the report said. “Given the current U.S. […]

River Drying Up In Italy

Italy declared a state of emergency in northern and central regions on Friday due to fears of drought following unusually warm and dry weather. Farmers have been fretting as Italy’s largest river, the Po, has dried up in recent months. The river, running west to east across northern Italy, feeds the broad Po valley which […]

Deep-sea quakes raising eyebrows

The deepest waters of the Gulf of Mexico already hold plenty of challenges for the oil and gas industry The Gulf, normally plagued far more by storms on the surface than by movement in the earth below, had three sub- sea earthquakes last year, all beneath the deep waters where most major oil and gas […]

Oil Refiners’ Production Lows, Profit Highs

Fires. Explosions. Lightning strikes. This is the new state of affairs for U.S. oil refiners, hobbled in recent months by an unprecedented plague of bad luck and operational setbacks from California to Delaware [see BusinessWeek.com, 4/26/07, “$4 Gas? Fat Chance”]. Facilities of all sizes and age have been struck, leading to supply bottlenecks in various […]

The oil price just keeps on rising

Revision. We are raising our oil price forecasts by close to USD 10. On average for 2007, Brent will cost USD 68 per barrel followed by USD 75 in the coming year. The respective seasonal highs in the third quarter will be USD 5-10 higher. Upward. The primary trend, i.e. the development beyond short-term or […]

Intel analysts to study climate change

WASHINGTON – Top intelligence analysts are diving into the politically sensitive issue of climate change, but some Democrats in Congress are demanding even more. The House Intelligence Committee approved a provision late Wednesday as part of a spy budget bill that would require the National Intelligence Council to produce its highest-level assessment The bill, which […]

Oil Crisis Begining in Canada?

Drops of liquid gold were being sold at gas stations Tuesday morning; at least that’s how drivers felt after an overnight jump pushed pump prices up right across the country. Vancouver led the country in a race no city wants to win. Motorists on the west coast are paying $1.25 per litre for regular, self-serve […]

Expected freeway traffic horrors don’t develop

The nightmare commute scenario that many feared after Sunday’s East Bay freeway inferno still had not materialized by Wednesday, with many motorists opting to take public transit rather than drive. Traffic congestion was down Monday and Tuesday. The amount of time drivers were stuck in traffic moving slower than 60 mph was down 8 percent […]

Climate change ‘can be tackled’

The growth in greenhouse gas emissions can be curbed at reasonable cost, experts at a major UN climate change conference in Bangkok have agreed. Boosting renewable energy, reducing deforestation and improving energy efficiency can all help, they said. This is the third report this year from the Intergovernmental Panel on Climate Change (IPCC), and aims […]

Exxon Mobil Says Peak Oil Unlikely Within 25 Years

A peak in petroleum liquids production, resulting solely from resource limitations, is unlikely in the next 25 years. Predictions of an imminent peak based on [the methodology developed by Shell Oil Co. geologist M. King Hubbert] in 1956 do not adequately account for resource growth from application of new technology, knowledge and capability, which combine […]

OPEC’s Dilemma

The dilemma, whether OPEC members acknowledge it or not, is that OPEC must increase capacity and lower prices or face the permanent loss of a substantial portion of oil’s market share in the energy market. In the intermediate term the also risk losing market share within the petroleum segment of the energy market. In the […]

Solar Energy Coming of Age

Flush with capital and fattened up on government subsidies, sun power companies are positioning themselves to grab market share in high-demand areas of the globe, notably Spain, South Korea, Greece, Italy, and California. But what has piqued analysts redherring

IEA gives warning of global gas shortage

The world’s leading energy watchdog has warned of a looming global gas shortage unless more money is poured into investment. The Paris-based International Energy Agency said the fuel would take a more dominant role over the next decade and supply must be expanded to match it. It said that while consuming countries could consider building […]

New Study Finds Oil Security Measures Will Bring Large Benefits to Consumers and

As key legislators consider reforming significant components of U.S. energy policy this month, a report released today by researchers at the University of Maryland, including a former Chief Economist for the President’s Council of Economic Advisors, has given strong support to a package of policy proposals being advocated by a group of prominent business leaders […]

Old king coal hard to dethrone

Dirty and dangerous, coal is a notorious source of climate damage yet is destined to remain a key energy source for decades to come. One of the options being examined by experts, meeting this week in Bangkok in the UN’s Intergovernmental Panel on Climate Change to assess measures to tackle global-warming emissions, is carbon sequestration […]

Agreement reached on climate report

International delegates reached an agreement early Friday on the best ways to combat climate change despite efforts by China to water down language on cutting destructive greenhouse gas emissions. A draft of the report proposed the world limit concentrations of greenhouse gases to between 445 parts per million and 650 parts per million, but China […]

Major Fights on Senate Energy Bill Delayed

The Energy and Natural Resources Committee yesterday cleared in a largely bipartisan fashion the first major energy bill of the Democratic-controlled Senate, but only after a testy battle over coal-based transportation fuels highlighted the divisive nature of such debates. After a 90-minute debate on the matter, the panel — in a 12-11 party-line vote — […]

Indonesia aims to sign Japan pact this year

Indonesia hopes to sign a free trade pact with Japan — Japan’s first to include energy — by midyear, Indonesian Trade Minister Mari Pangestu said on Thursday. Resource-poor Japan is the world’s largest LNG importer, absorbing about 58 million tonnes in 2005 or almost half of global exports. Indonesia is the world’s second largest LNG […]

Metropolis ‘may become ghost city’

The Australian of the year 2007 environmentalist Tim Flannery once predicted that Perth in Western Australia could become the world’s first ghost metropolis, its population forced to abandon the city due to lack of water. While some critics scoffed at this idea, there’s no doubt that it has forced the city to wake up to […]

Climate talks enter final phase

Negotiations on a major UN climate report due to be released on Friday in Bangkok appear set to go to the wire. The third part of this year’s assessment from the Intergovernmental Panel on Climate Change looks at ways to curb emissions and economic factors. Delegates said an all-night sitting was possible, as session chairs […]

Green lobby pushes renewable energy

BANGKOK, Thailand – There’s no shortage of ideas for high-tech measures to combat global warming: develop clean biofuels made of corn or palm oil, build more nuclear power stations or bury harmful carbon emissions in underground vaults. But those are the last solutions many environmentalists want to hear about. For the green lobby pushing this […]

Wind farms useful but may threaten birds

WASHINGTON – Wind farms could generate as much as 7 percent of U.S. electricity in 15 years, but scientists want to spend more time studying the threat those spinning blades pose to birds and bats. The towers appear most dangerous to night-migrating songbirds, bats and some hunting birds such as hawks and eagles. The risk […]

Australia April vehicle sales up 10.1 pct yr/yr

SYDNEY, May 3 (Reuters) – New vehicle sales in Australia rose 10.1 percent in April over the same month last year, the Australian Federal Chamber of Automotive Industries said on Thursday. Sales fell 19.9 percent in April compared to March, though this series is not seasonally adjusted and is affected by variable factors such as […]

DOE Halts SPR Crude Oil Purchases

NEW YORK DOE had previously rejected all bids for purchases of up to 4 million barrels of crude for the SPR in a May solicitation for the same reason. “Both solicitations resulted in no awards because the department determined that the bids were too high and not a reasonable value for taxpayers,” the DOE said. […]

Eco Terror

British environmental scientist James Lovelock sensed that something was seriously wrong with human consciousness. How else could his peers report horrifying things so calmly? The polar ice caps are melting, they said, 3,000 species go extinct every year, the world Lovelock

Caterpillar jumps on the green bandwagon

The industrial giant finds that sustainability plays in Peoria NEW YORK (Fortune) — Will it play in Peoria? Since the days of vaudeville, entertainers, politicians and business people have come to this mid-sized midwestern city, halfway between Chicago and St. Louis, to take the pulse of middle America. Towering over the city is Caterpillar, Peoria’s […]

US Oil, Gas Industry Look to Past Storms for Future Improvements

The deadly hurricanes of 2005 have forced the U.S. offshore oil and natural gas industry to reevaluate and make changes in the way they operate their rigs to protect and preserve mining the nation’s largest source of oil and natural gas. Waves from Hurricanes Katrina and Rita reduced drilling rigs into “pickup sticks” on the […]

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