Why no one’s making more gas

Refineries are making money like never before, so why aren’t more people getting in on the action? NEW YORK (CNNMoney.com) — Motorists must get tired of hearing how refinery problems are causing high gasoline prices. In a free-market economy, if there really was such a shortage (most experts say there is), and refining profits are […]

OPEC Secy Genl: Members Could Rethink Post-’12 Expansion Plan

OPEC members responsible for 40% of the world’s oil production capacity could rethink their capacity expansion plans beyond 2012, according to the group’s Secretary-general Abdalla Salem el-Badri, unless dialog with consuming countries gives them assurances over future demand. In an interview with Dow Jones Newswires, el-Badri said there was little enthusiasm among Organization of Petroleum […]

Stores try to cut electric bills

Shoppers at some Connecticut Sears and Kmart stores this summer could find themselves worrying about their eyesight, wondering if it truly did just get a lot darker inside. But that dimming will be a sign of strain on the region’s power grid, not shoppers’ eyes. Sears Holdings Corp. is announcing today the participation of nine […]

The Oil Drum: More Gonu Coverage, Day 3

How much of an effect did Gonu have on the Gulf of Oman and the Straits of Hormuz? Honestly, we’re still trying to figure that out.Much more after the jump to The Oil Drum.

Relocalization: The Oil Drum:A Strategic Response to Climate Change and Peak Oil

A guest post by Jason Bradford: Here are a few of my predictions: Many trends of the last century or more, made possible by cheap and abundant energy sources, are going to be reversed. These trends include population growth, centralization of political and economic power, vastly increased quantity of global trade, and mass tourism. But […]

Sources: Thousands of Turkish troops enter Iraq

ANKARA, Turkey (AP) — Several thousand Turkish troops crossed into northern Iraq early Wednesday to chase Kurdish guerrillas who operate from bases there, Turkish security officials said. Two senior security officials, speaking on condition of anonymity because they were not authorized to speak to the media, said the raid was limited in scope and that […]

Richard Heinberg’s Museletter- The Oil Depletion Protocol: An Update

My book The Oil Depletion Protocol: A Plan to Avert Oil Wars, Terrorism and Economic Collapse was released eight months ago; given the importance of its subject, I thought an update might be useful. Relevant developments during these few months have been both encouraging and discouraging. First the encouraging items. The Oil Depletion Protocol (ODP) […]

Natural gas prices at highest since December

WASHINGTON For consumers, the higher natural gas prices mean heating costs could be elevated this winter for the most popular heating source in the USA if the gains hold. Increased natural gas prices also could lead to higher electricity costs later this summer to power air conditioners, because a large amount of electricity is generated […]

California sees sprawl as warming culprit

SAN FRANCISCO California Attorney General Jerry Brown has sued San Bernardino County, the USA’s largest in land area and one of the fastest growing, for failing to account for greenhouse gases when updating its 25-year blueprint for growth. “It’s ground-breaking. California is just leading the way for other states and jurisdictions that will ultimately follow,” […]

The Secret History of the American Empire

Economic Hit Men, Jackals, and the Truth about Global Corruption Today, we spend the hour with a man who claims to have worked deep inside the forces driving corporate globalization. In his first book, …I think it

Pipeline to connect Canadian Oil Sands to Houston

CALGARY — Canadian oil sands production — as much as 400,000 barrels a day — could be flowing into Texas by late 2010, dramatically shifting the market for domestic crude output as new projects begin pumping north of Fort McMurray. Enbridge Inc. announced a preliminary partnership with giant Exxon Mobil Corp. yesterday to create by […]

Turkey says no army operation in N.Iraq just now

ANKARA, June 6 (Reuters) – Turkey said on Wednesday it had no plans at present to send troops into northern Iraq to crush Kurdish rebels there, but it indicated this remained an option in the future.Media speculation is high of a possible cross-border operation against rebels of the outlawed Kurdistan Workers Party (PKK), which uses […]

Putting Peak Oil to the Test in 2007

Energy prices have soared over the past week, due in most part to a powerful cyclone that hit Oman, shutting down a terminal shipping 650,000 barrels of oil per day. But once the storms stop, however, peak oil will ensure those prices remain at record setting levels. …One of the most telling signs that we’re […]

Thieves siphoning diesel from construction machines

MCALISTERVILLE — In addition to securing equipment parked on work sites, a construction company is finding that rising petroleum prices mean it now must guard against theft of the fuel from the parked machines. Jay C. Fulkroad & Sons Inc., of McAlisterville, has had at least 600 gallons of diesel fuel stolen in two recent […]

Oil gives unhappy Nigerians leverage

KOROKORO, Nigeria – Young boys scamper along weed-entangled pipes, transforming an oil-pumping station marked “Not In Use” into a jungle gym in the heart of Nigeria’s lawless oil region. Nearby wells rust under the palm trees, and gas-flaring chimneys have gone cold. The scene in Ogoniland, where villagers ousted oil companies in the 1990s, offers […]

George Soros to invest $900 million in Brazilian ethanol

US finance tycoon George Soros said Tuesday that he will invest $900 million in the production of ethanol in Brazil, and demanded that the US and EU open their markets for the biofuel produced in the South American country. Putting an end to barriers in developed nations would help eliminate a ‘paradox’ that leaves an […]

Uganda: Oil Discovery – Curse Or a Masked Blessing?

BLACK gold or commercially viable oil deposits have been discovered in Uganda generating quite a buzz what the future will look like when oil dollars start flowing into resource starved government programs. So far little public discussion has gone on about that future. NEWS on the oil discovery in Uganda has been limited to periodic […]

Resource Wars – Can We Survive Them?

…With the world’s energy supplies finite, the US heavily dependent on imports, and “peak oil” near or approaching, “security” for America means assuring a sustainable supply of what we can’t do without. It includes waging wars to get it, protect it, and defend the maritime trade routes over which it travels. That means energy’s partnered […]

Sparks of hope for a flammable future (Ireland)

According to a recently published scientific report by The Petroleum Affairs Division of the Department of Communications Marine and Natural Resources (Sunday Independent, May 20) on Ireland’s future energy prospects, there is real reason for optimism. We are on the verge of an oil and gas bonanza with resources under our Atlantic seabed having the […]

Ahead of the Bell: Oil Inventory

Oil traders will scour government petroleum data Wednesday to determine whether gasoline supplies have increased enough to keep prices on a downward trend. The Energy Department’s forecasting arm, the Energy Information Administration, will release its weekly report on petroleum supplies at 10:30 a.m. EDT. The agency reported last week that gasoline stocks increased by 1.3 […]

Russia’s Gazprom Neft, Norway’s Statoil set for oil partnership

Gazprom Neft and Statoil signed a corresponding agreement on June 5. A task force set up by both companies will study the possibility of implementing joint oil prospecting and production projects in Russia and abroad, Gazprom said in a statement. Gazprom earlier short-listed US majors Chevron and ConocoPhillips, Norway’s Statoil and Norsk Hydro and France’s […]

Exxon Mobil mulls new pipeline for Canadian oil

There’s plenty of dirty oil to be had in Canada’s oil-soaked sands, but the nation’s pipeline system currently transports only a pittance past Midwest destinations to the refinery-rich Gulf Coast. Some companies are scoping out the possibility of adding new pipelines stretching that far south to better accommodate growing oil production from Canada, the nation’s […]

Petrobras to Explore Iran’s Caspian Sea Oil Fields

Iran is in talks with Brazil’s state oil company Petrobras to explore two oil blocks in the Caspian sea, an Iranian official was quoted as saying on Sunday, June 3. Iran aims to finalise the $2 billion deal by summer Huliq

Iraqi unions fight to keep oil out of corporate hands

The Bush administration calls the Iraq occupation an exercise in democracy building. Yet from the beginning, many of the Iraqis who want democracy most are treated as its enemies – Iraq’s unions. Iraq has a long labor history. Union activists, banned and jailed under the British and its puppet monarchy, organized a labor movement that […]

Opec warning on biofuels

The Organisation of the Petroleum Exporting Countries (Opec) has warned that moves by industrialised nations to develop biofuels could send oil prices “through the roof”. Today’s caution from Opec secretary general Abdalla El-Badri comes as G8 leaders prepare to meet in Germany for a three-day summit with climate change and energy security at the top […]

Green group hits at Canada over oil sands

Canada is unlikely to be able to hit its target for reducing greenhouse gas emissions by 2020 because of the rapid growth of its oil sands industry, a leading research group has warned. Canada has admitted that it stands no chance of meeting its commitment to cut greenhouse gas emissions by 2008-12 under the Kyoto […]

Climate Change to Hit Bangladesh Food Output – Experts

Rising temperatures will hurt food production in Bangladesh, and millions of people could be displaced as the seas around the low-lying nation rise, environment experts said on Tuesday. “It is really worrying that production of our main food crops rice, wheat and potato has already started to decline,” said Ainun Nishat, an environment expert at […]

Biofuel can help poor as well as climate: FAO

Biofuel — “environmentally friendly” energy created from plants rather than oil — should not be seen as a threat to the world’s poor and may help increase food production, a U.N. food and energy expert said.“It’s probably the best opportunity there has been since the ‘green revolution’ to bring really a new wind of development […]

Former World Bank Energy Specialist on China’s Renewable Energy Development

Dr. Eric Martinot, former senior energy and environment specialist at the World Bank and now visiting scholar at Tsinghua-BP Clean Energy Research and Education Center, talked to Interfax about his research findings regarding China’s renewable energy development on the sidelines of a forum held in Shanghai last week. Martinot believes that China will have no […]

StockInterview: How to Play China’s Energy Crisis

An 18-month investigation by StockInterview’s research team has led to a significant conclusion: China has an energy crisis of epic proportions. In fact, China’s energy crisis is downright frightening.China’s steel industry is growing at a level not seen since the European and North American industrialization era of 1875-1900 and far greater than the post-war reconstruction […]

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