Europe is missing carbon cut targets

Europe is failing to keep its promise to cut carbon emissions, new figures reveal. The European Commission yesterday disclosed that since the Kyoto treaty targets for cutting emissions were set in 1997, the EU has achieved a two per cent reduction. This means that at its average rate of reduction it would be impossible to […]

China Oil Imports Rise 11.5 Percent

Oil imports to fuel China’s booming economy rose by 11.5 percent in the first five months of the year, a state news agency reported Friday. China is the world’s No. 3 oil importer after the United States and Japan, and Chinese leaders see growing reliance on imports as a strategic weakness. Oil imports from January […]

ExxonMobil spending less to find oil than in 1981

When a Pentagon shakeup couldn’t get on the air because every channel is riveted to Paris Hilton being dragged back to jail in handcuffs, it’s time to turn the jackals-in-the-box off in disgust and read. Count on high gas prices sticking around: ExxonMobil turned a $39.5 billion profit last year on sales of $365.4 billion […]

Russia-China oil link nears completion

Construction of the first Russia-China oil pipeline is going well and is expected to be completed by next year, said experts from both countries. The pipeline will initially supply China 10 million tons annually. It will gradually increase to 30 million tons a year. The feasibility of three more gas pipelines from Russia to China […]

It’s all about safety, new BP chief says

New BP CEO Tony Hayward asserts that his company shines when it comes to finding oil and gas or amassing an impressive portfolio of energy assets. Operations are another story. An explosion at its Texas City refinery killed 15 people. A corroded pipeline allowed oil to spill at the nation’s largest oil field in Alaska. […]

New oil refinery would upgrade Alberta crude

Thousands of acres of farmland in the southeastern tip of South Dakota could become home to the United States’ first new oil refinery since 1976. Hyperion Resources Inc., a privately held Dallas-based energy company, is considering Elk Point and several other midwest sites for the $8 billion (U.S.) refinery, which would turn 400,000 barrels of […]

Venezuela to Purchase Russian Subs

Venezuelan President Hugo Chavez is in final negotiations with Moscow to acquire up to nine submarines, Kommersant reported Thursday. The deal means the largest submarine fleet in South America for Venezuela, probably $3 billion for Russia, and an international insult for Washington. Snubbing the U.S. is no new phenomenon for Chavez. Since coming to power […]

Chevron Chief Touts Energy Security

On June 6, Chevron CEO David O’Reilly spoke to the Commonwealth Club at the Fairmont Hotel in San Francisco about energy security, energy policy, and alternative energy sources. “America is at a crossroads when it comes to energy,” the Chevron head told more than 100 members of the Commonwealth Club. Using California as an example, […]

Nigeria’s strife forces Shell to cut outlay

Royal Dutch Shell PLC is looking to cut at least $100 million in spending from its Nigerian operations in the next few years to offset rising costs and lost revenue as security concerns curtail oil production, people familiar with Shell’s operations said. The move appears to be a sign that Shell, Nigeria’s biggest foreign oil […]

Basrah contains huge oil wealth

Oil researcher, Ahmad Al-Husseini, said that geological studies “in Iraq showed that there are about 530 geological complexes of good prospects for oil; about 115 sites have been drilled so far with reserves estimated at about 111.3 billion barrels of oil, which leaves 415 locations requiring exploration.” He pointed out, “reserves in the 415 sites […]

Masters Energy Inc. Announces Enhanced Oil Recovery Project

Masters Energy Inc. (TSX:MSY) (“Masters” or “the Company”) has contracted an engineering consulting firm, specializing in enhanced oil recovery, to evaluate the Company’s oil producing property at Little Bow. The Little Bow property has produced for a total of 30 years and has been under waterflood for 25 of those years. The Company currently produces […]

Retired Generals, Admiral Warn of Dangers Created by Oil Dependence

During a public briefing on Capitol Hill, former senior military officers today assessed the profound risks created by the nation’s excessive oil dependence. The review of threats to global oil production and distribution occurred as the Senate debates legislation on vehicle fuel economy and other aspects of U.S. energy security. The assessment was delivered jointly […]

The Event of the Century

The 21st century is still young, as there are another 93 years to go. So it might sound overambitious to claim that ‘The Event of the Century’ is already behind us. But I’ll gladly take the risk, for I seriously believe that the peaking of the global production of crude oil — commonly know as […]

From Peak Oil To Dark Age?

With global oil production virtually stalled in recent years, controversial predictions that the world is fast approaching maximum petroleum output are looking a bit less controversial. At first blush, those concerned about global warming should be delighted. After all, what better way to prod the move toward carbon-free, climate-friendly alternative energy? But climate change activists […]

The Senate Energy Bill

GIVEN THE alternative of doing nothing about global warming — which President Bush and the Republican-led Congress excelled at for the past six years — the flurry of activity on climate change in Washington is welcome. President Bush at least agreed at the recent Group of Eight summit in Germany to international talks on the […]

Iraq Plans 2nd Meeting With U.S., Iran

Iraq is planning a second meeting with American and Iranian officials on improving security in the war-torn nation as a follow up to talks last month that broke a 27-year diplomatic freeze, Iraq’s foreign minister said Thursday. Hoshyar Zebari said in an interview with The Associated Press that he thinks the meeting will take place […]

The Pentagon v. Peak Oil

That global oil output will eventually reach a peak and then decline is no longer a matter of debate; all major energy organizations have now embraced this view. What remains open for argument is precisely when this moment will arrive. Some experts place it comfortably in the future — meaning two or three decades down […]

Indonesia Agrees to Chevron’s Terms for Oil Recovery Project

Indonesia’s government has agreed to terms proposed by Chevron Pacific Indonesia (CPI) to carry out a US$200 million enhanced oil recovery project (EOR) in Riau, central Sumatra. The government is concerned with preventing further decline in the country’s crude oil output; therefore, it agreed to the term that will give Chevron a larger-than-normal share of […]

Big bets on nuclear, wind power, says PwC

Power companies worldwide, including those in India, expect generation and utilisation of wind energy and nuclear energy to increase substantially in the next five years, says a Pricewaterhouse Cooper (PwC) report released on Thursday. The ninth annual PwC report “Energy and Efficiency: Utilities Global Survey 2007″, based on responses from 114 power companies in 44 […]

Altergy Systems Unveils The World’s First Automated, High Volume Fuel Cell Assem

Altergy econline

Michael Klare: The Pentagon as Global Gas-Guzzler

Sixteen gallons of oil. That’s how much the average American soldier in Iraq and Afghanistan consumes on a daily basis Such numbers cannot do full justice to the extraordinary gas-guzzling expense of the wars in Iraq and Afghanistan. After all, for every soldier stationed “in theater,” there are two more in transit, in training, or […]

Oilsands gain a dirty name

Forget Canada’s image as a source of secure energy to the United States. That was a couple of years ago, when the flavours of the day south of the border were indignation over soaring gasoline prices, while dependence on Middle East oil was the root of all evil, including the war in Iraq. Now that […]

A Crude Awakening: The Oil Crash

This isn’t just a film for tree-hugging greenies; it’s one everyone should see. If you like a good documentary you will have noticed, in recent times, that an alarming number have some disturbing things to say about the state of the Earth. Worse still, they all seem to come backed up with thorough research and […]

Hubbert’s Peak, The Question of Coal, and Climate Change

Currently there is a vigorous debate about fossil-fuel production, and whether it will be sufficient in the future. At the same time, there is an intense effort to predict the contribution to future climate change that will result from consuming this fuel. There has been surprisingly little effort to connect these two. Do we have […]

Kuwait seeks Calgary’s help

CALGARY — State-owned Kuwait Oil Co. is looking to enlist the knowledge and expertise of Calgary-based firms to help in the development of its heavy-oil reserves with a goal of producing a total of 900,000 barrels per day by 2020, a senior KOC official told the Calgary Herald on Wednesday. Output from the proposed development […]

Death toll reaches 289 in sizzling Pakistan

Islamabad – At least 57 more people died across Pakistan due to exposure to intense heat, raising the death toll to at least 289, media reports said on Thursday. …People battled the sizzling temperatures amid frequent power outages as the country was facing its worst ever energy crisis, with electricity demand exceeding the supply by […]

The Oil Drum: Peak Oil Update: Production Forecasts and EIA Numbers

The latest graphs, charts, data, etc. Here’s the executive summary: 1. Monthly production records are unchanged except for NGPL: A. All Liquids: the peak is still July 2006 at 85.43 mbpd, the year to date average production in 2007 (2 months) is 84.26 mbpd, up 0.2 mbpd from 2006. B. Crude Oil + NGL: the […]

Greenspan says oil output a threat to Mexico

Former Fed chief says lower production could spark a major fiscal crisis there, points out risks of increased immigration to United States. MEXICO CITY (Reuters) — Declining oil output in Mexico could spark a major fiscal crisis there, former Federal Reserve Chairman Alan Greenspan said Wednesday while also railing against U.S. immigration policy. “There is […]

Bleak forecast for global business

Liquid fuel shortages, massive unemployment, high interest rates and severe recession. Those are just some of the bleak prospects ahead for the global economy as our energy supplies dry up, according to a keynote speaker at the Smart 2007 supply chain conference to be held in Sydney next week. The predictions come from Dr Roger […]

Costs don

More than ever commute solo as suburbanites can From 2000 to 2005, the share of people driving alone to work increased slightly to 77 percent, according to a Census Bureau report Wednesday. Carpooling dropped and the share of commuters using public transportation stayed the same. More recent statistics

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