Opec must lift oil supply: energy report

The price of oil will soar in the coming months, unless the Opec crude cartel ramps up output, the Centre for Global Energy Studies said in a report published on Monday. “The world needs more oil if another price surge is to be avoided,” the London-based energy research group said in a monthly study.“Opec continues […]

India: The oil market is basically all about psychology

The latest edition of the BP Statistical Review of World Energy 2007 estimates that India’s oil reserves will last only 19 years or so before running dry. While this is an improvement on the 2002 figure, which gave the reserves an estimated lifespan of only 17.2 more years, there are two main causes of alarm […]

Bolivia reclaims oil refineries

Bolivia has taken full control of two oil refineries from the Brazilian state-owned energy company, Petrobras, after a compensation deal last month. The head of the state energy company, YPFB, said Bolivia had taken back “what we never should have lost”.The $112m (

Venezuela oil boom raises inflation spectre

It is boom time in Venezuela. Many of the hillside slums encircling Caracas now have satellite dishes on their corrugated iron roofs. Wealth is reaching all levels of society and it is being spent with gusto.But this effervescent economy – averaging about 12 per cent growth in the past three years – has unleashed one […]

Gas stations attacked amid anger over Iran’s new fuel rationing

Angry Iranians attacked several gas stations in protest after the government suddenly began long-threatened fuel rationing, while many others rushed to fill their tanks. The Oil Ministry announced the start of rationing Tuesday night only three hours before it was due to begin at midnight. The sudden announcement sparked long lines at stations as Iranians […]

Exxon, Conoco drop Venezuela oil projects

Exxon Mobil Corp. and ConocoPhillips have decided to abandon their heavy crude oil projects in eastern Venezuela rather than cede majority ownership and operating control to the government, Venezuelan officials said Tuesday. President Hugo Chavez had set Tuesday as the deadline for the six foreign owners of four mega-projects in Venezuela’s Orinoco Belt region to […]

New Technology Could Lead To More Energy-Efficient Ethanol Production

Ethanol to fuel cars, trucks and other vehicles might tomorrow take less energy to produce, thanks to a device invented by Agricultural Research Service (ARS) scientists in California. Chemical engineers Richard D. Offeman and George H. Robertson at the ARS Western Regional Research Center in Albany, Calif., think it may be possible to cut energy […]

Germany mulling programme to boost energy efficiency

The German government is considering launching a plan worth billions of euros to boost energy efficiency and cut the use of oil, electricity and gas, a newspaper reported on Tuesday. According to the plan, the government would increase the amount set aside to modernise older buildings to 3.5 billion euros ($4.7 billion), the Frankfurter Allgemeine […]

EPA Spending $118 Million to Eliminate Greenhouse Gas Emissions

The Environmental Protection Agency (EPA) recently released their $7.2 billion fiscal year 2008 budget, $118 million of which is earmarked for climate change programs to reduce U.S. greenhouse gas emissions. The programs build upon partnership efforts and contribute to the president’s plan to reduce greenhouse gas intensity by 18 percent in 2012. Biofriendly Corporation now […]

Iran oil exports at risk in UK ship sanctions plan

A British proposal to target Iran’s national shipping lines under a draft U.N. sanctions resolution could temporarily curb Tehran’s ability to export oil to world markets, maritime sources said on Tuesday. Iran, OPEC’s second largest producer, pumps 3.85 million barrels of crude a day and exports 2.4 million barrels of that on tankers by sea, […]

Global efforts to substitute for oil: Learning by doing ourselves in

As of now, the replacement of oil is not gaining ground. The implication is worse than mere stagnation. The U.S. Department of Energy (DOE) warns of severe negative economic fallouts unless a crash program of mitigating the effects of the peak is undertaken 20 years before it occurs. A little familiarity with peak predictions (clustering […]

OPEC Outlook: Demand For OPEC Oil By 2010 Below 2005 Level

The Organization of Petroleum Exporting Countries Tuesday said it expected demand for its members’ crudes within three years will be almost 1 million barrels a day below 2005 volumes, largely because of growth in natural gas liquids production from non-OPEC producers. In its long-term outlook through 2030, OPEC said there were dangers to estimating demand […]

Biotech breakthrough could end biodiesel’s glycerin glut

With U.S. biodiesel production at an all-time high and a record number of new biodiesel plants under construction, the industry is facing an impending crisis over waste glycerin, the major byproduct of biodiesel production. New findings from Rice University suggest a possible answer in the form of a bacterium that ferments glycerin and produces ethanol, […]

The Next Generation of Biofuels

“The global market for ethanol faces enormous opportunities and transitional challenges over the next ten years. A few issues hold the key to understanding the transitional nature of these challenges and identifying the best prospects for long-term growth opportunities,” said William Thurmond, author of Ethanol 2020: A Global Market Survey (pdf). “If the promises of […]

ABF, BP and DuPont to Build $400M Bioethanol Plant

Associated British Foods (ABF), BP and DuPont will invest around $400 million for the construction of a major bioethanol plant alongside a demonstration plant for biobutanol. Although initial production of the primary plant will be bioethanol, the partners will explore converting it to biobutanol production once the required technology is available. greencarcongress

Records tumble as Britain is hit by months of extremes

The official line is that no one can pin any one event on anything as vast as global warming. However, with temperatures generally rising around the world, and subtropical temperatures becoming more common in Europe, extreme events are predicted, with intense localised storms becoming the norm. After a drought last year, the autumn and winter […]

Warnings that went down the drain

Only a fortnight ago the government’s chief scientist warned that more funds were urgently needed to update the UK’s Victorian-era drainage infrastructure. Sir David King told a committee of MPs that while there would be more heat waves like the summer of 2003, the more serious, immediate threat to the UK from climate change was […]

More US commuters drive solo

Global-warming warnings have not dissuaded Americans from driving to work alone. In fact, their numbers have been rising. Global warming may be the nation’s latest roadside attraction, but the American obsession with the carbon-spewing automobile still seems to be charging full speed ahead. Seventy-seven percent of workers in the United States The news comes amid […]

Flush with Kovykta Victory, Gazprom Eyes Sakhalin-1

Russian gas giant OAO Gazprom took aim at Exxon Mobil Corp.’s Sakhalin-1 project Tuesday, only days after wresting control of a huge Siberian gas field from BP PLC. Deputy Chief Executive Alexander Medvedev, the man responsible for Gazprom’s export policy, said the Exxon-led consortium’s plans to export gas to China were unrealistic and should be […]

The Oil Drum: The Basics of Peak Oil, An Overview

The message that “peak oil” may be a problem is now reaching respected publications like Business Week. But how can a person learn more? Information about peak oil is often fragmented, and the quality of the sources is questionable. The purpose of this article is to document some of what is known about peak oil, […]

Consumers Say They’ll Cut Discretionary Spending, Not Use Alt. Transportation

RIVERWOODS, Ill.–(BUSINESS WIRE)–Nine out of ten American adults claim they are paying close attention to the rising cost of gasoline, according to a Discover survey. In fact, two-thirds can quote the per gallon price within 30 cents. While nearly half of car owners said they are willing to buy a more fuel efficient car should […]

Terminal manager says some gas types seeing shortages…

NORTH DAKOTA – Tanker trucks are lined up at a West Fargo pipeline terminal waiting to buy wholesale fuel. Magellan terminal manager Mark Haugen says there are some spot shortages of certain types of gasoline in the region. Haugen says it’s a matter of supply and demand. The pipeline gets gasoline from refineries in the […]

Zimbabwe: Plight of the powerless

Our shortage of fuel, our shortage of foreign currency, and, of course, our chronic shortage of intelligent government administration, have all led to power cuts becoming a way of life in modern Zimbabwe. But recently they have threatened to become a way of death. ‘Load-shedding’, as power cuts are known, results from our under-performing power […]

US expert calls for ‘peak oil’ study

The federal government must immediately and rigorously assess the looming impact of peak oil, a former White House consultant says. Dr Roger Bezdek is in Australia for a series of lectures on the theory of peak oil – the idea that we have arrived at or are about to arrive at the high point of […]

Canada’s oil sands going nuclear

FORT MCMURRAY, Canada (AFP) – Petroleum companies are eyeing nuclear power to feed burgeoning oil production in Canada’s oil patch, pitting ecologists against ecologists unable to agree on its climate change impact. Squeezing one barrel of oil from the Athabasca, Peace River and Cold Lake Oil Sands in western Canada requires twice as much energy […]

Urumqi limits natural gas consumption to safeguard supply for the east

Shanghai – The government of Urumqi, the capital city of northwestern China’s Xinjiang Autonomous Region, has decided to curb the city’s natural gas consumption in order to guarantee sufficient gas supplies for the country’s more energy-demanding eastern regions, state media reported today. According to an emergency circular outlining how the city’s natural gas use will […]

Armies must ready for global warming role: Britain

LONDON (Reuters) – Global warming is such a threat to security that military planners must build it into their calculations, the head of Britain’s armed forces said on Monday. Jock Stirrup, chief of the defense staff, said risks that climate change could cause weakened states to disintegrate and produce major humanitarian disasters or exploitation by […]

Peak Oil: Futility of Cellular Phone Utility

Rising demand combined with reduced energy supply around the time of Peak Oil will likely result in electrical grid failure and intervals of punctuated power. As a consequence, the love affair we all appear to have with mobile phones looks set to change; there may no longer be guaranteed access and limited use imposed. Public […]

Iraq’s draft oil law to be submitted to the parliament

A spokesman for Iraq’s Oil Ministry said that the disagreements between the Iraqi Central Government and the Kurdish regional authority regarding the draft oil law have been resolved, IDP reported. It was also stated that the draft law has been submitted to the Iraqi Parliament and that lawmakers are expected to begin debates within the […]

Norsk Hydro strikes oil, natural gas reserves off Norway

Norsk Hydro ASA struck oil and natural gas reserves about 121 kilometres off the western Norway city of Bergen, the Norwegian Petroleum Directorate announced Monday. The directorate described the strike as minor though no estimate was given for the size of the find. It said field partners may link the oil and gas reserve to […]

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