Tight Global Supply to Underpin Long-Term Oil Price

…Jeffrey Currie, an analyst at Goldman Sachs in London, said the only way to avoid a spike in crude prices above $90 a barrel this autumn is a ramp up in production by Saudi Arabia, Kuwait and the United Arab Emirates. “These three countries are the only members of OPEC that took significant supplies off […]

Industry’s role in Cheney energy report emerges

Many meetings held with companies before environmentalists approached At 10 a.m. on April 4, 2001, representatives of 13 environmental groups were brought into the Old Executive Office Building for a long-anticipated meeting. Since late January, a task force headed by Vice President Cheney had been busy drawing up a new national energy policy, and the […]

Iraqi Withdrawal: Seven Scenarios

What happens if the United States and coalition forces withdraw rapidly from Iraq? The U.S. and the Iraqi governments have their own scenarios. Iran, al-Qaida, Syria and Turkey have also analyzed potential outcomes. Business and government make plans. Every plan anticipates a future outcome. Since the future can’t be predicted, the best plans acknowledge uncertainty. […]

Biofuels:

Carlos Cabrera, president and CEO of the Honeywell-owned company UOP – which has specialised in developing processes and technologies for refining crude oil for the past 90 years – told EurActiv why he believes policymakers should shift their attention to second-generation biofuels if they want to substantially reduce CO2 emissions in the transport sector. Euractiv

Analysis: Venezuela, Iran team up on oil

Venezuela and Iran are forging closer oil ties in hopes of reducing their dependence on the United States, inking a $4 billion deal to develop a block of the lucrative Orinoco Reserve in Venezuela. According to Venezuelan Oil and Energy Minister Rafael Ramirez, production at the Ayacucho 7 block should begin in two years. The […]

Glory days are over for North Sea as the big companies look abroad

High oil prices have triggered a drilling boom off Britain but the big oil companies around which the North Sea energy industry was built are pulling investment out of this country and shifting their focus to what they see as more promising areas such as West Africa, the US Gulf and Russia.Guardian

6,000 Kurdish fighters to guard Iraq oil installations

The Iraqi government will soon dispatch about 6,000 former Kurdish guerrillas to protect electric and oil infrastructure from insurgents attacks, a security official said yesterday. “A brigade of 6,000 peshmerga will be sent to an area southwest of Kirkuk to protect electric generators between Kirkuk and Baiji,” Brigadier General Jabbar Yawar, a spokesman for the […]

Africa

With world crude oil prices nearing $75 a barrel, economies across Africa are grinding to a halt under the burden of soaring energy costs. The spike in world oil prices this summer will exacerbate economic problems, pounding already fragile national budgets and offsetting hard-fought gains from poverty reduction programs, international development aid, and debt relief […]

World Economy Resists Oil Price

The world economy is bounding ahead, largely unaffected by record high crude oil prices, which have quadrupled over the past six years, economists say. Oil prices have surged close to record peaks in recent days owing to tight global supplies and fierce demand led by the United States and China — the first and second […]

Foreign demand for U.S. securities surges to record

A major factor in foreign investment strategies is the price of oil, said Michael Woolfolk, senior currency strategist at the Bank of New York. Oil is sold around the world for dollars, placing vast sums of so-called petrodollars in the hands of oil producers in Saudi Arabia, Russia and Norway. “In May, we saw a […]

Japan’s Nuclear Plant Shutdown May Boost Oil Demand

Nippon Oil Corp. expects Japan’s oil and heavy fuel demand to rise by about 700,000 kiloliters in August after the shutdown of a Tokyo Electric Power Co. nuclear station, Chairman Fumiaki Watari said. The Kashiwazaki-Kariwa nuclear station, the world’s biggest, was shut after a magnitude 6.8 earthquake struck Niigata prefecture in central Japan on July […]

Petrol hits

Motorists in parts of Britain were being forced to fork out over Guardian

Plan to use waste food as biofuel

Waste food from Britain’s supermarkets could be used as fuel in an ambitious biomass project, the Guardian reports. The renewable energy company, Infinis, could use food and other biodegradable waste items, which would otherwise thrown away, as a source of fuel.Alan Lovell, chief executive of Infinis, told the Guardian: “We are in discussions with some […]

Poor maize crop could dent SA biofuel hopes

Two seasons ago, when a bumper harvest pushed South African maize prices to four-year lows, it seemed like a good idea to plough all that excess maize into biofuels — energy tapped from crops like sugar and maize. But for the second year in a row, South Africa faces a season of slim pickings after […]

Biofuel threat to wildlife

The growing demand for new crops of biofuel plants – potentially one of the greatest changes in agriculture for generations – could present yet another threat to British wildlife, according to a warning issued today by some of the country’s leading scientists. With the world’s oil and natural gas reserves increasingly at risk because of […]

UK: Consumers in energy debt

Recent Ofgem figures reveal that 2 million consumers are now officially in debt to energy providers. At the same time there has been a 33% increase in energy debt since 20041- the average amount of money owed by consumers to energy companies. But this is just the tip of an energy debt iceberg says uSwitch.com, […]

Buying imported food may actually be more energy-efficient

For the conscientious, food shopping now poses yet another ethical dilemma: is it really better to buy locally rather than shipping meat, fruit and vegetables around the globe? A conference of experts yesterday heard that importing food from the other side of the world can actually be more energy-efficient than buying British produce and helps […]

Biofuel demand makes fried food expensive in Indonesia

Record-high palm oil prices due to voracious global demand for the oil used for food and now increasingly as a biofuel have left many ordinary Indonesians without their usual culinary fare. Palm oil-derived cooking oil is a staple in the Indonesian pantry. It is used to fry many of the spicy dishes that are part […]

EU Biodiesel Output May Fall in 2007 – EBB

Output of biodiesel in the European Union, the world’s biggest producer of the green fuel, may stagnate or even fall this year due to an inefficient market policy, the European Biodiesel Board (EBB) said on Tuesday.This year, biodiesel production capacity rose to 10.29 million tonnes from 6.07 million tonnes in 2006, but there were risks […]

Solar Power Sector Will Need to Cut Costs

The risk of a glut in solar panels sales, as input costs fall, makes cost-cutting now key, Iain Dorrity, Chief Executive of PV Crystalox, said on Tuesday. At present a shortage of high grade silicon, a key component in solar panels, has created a bottleneck, boosting producer profits as demand for the clean energy source […]

Tomoko Yanai Image change needed for an eco-friendly life

In my view, we should create a social climate in which people, especially people living in developed countries, make contributions on an individual basis. To achieve this, I propose three actions: establish a new financial system to promote environmental funds, reform the environmental infrastructure and use the media to influence public behavior. asahi

BP Expands Solar Energy Manufacturing Capability

BP Solar is expanding what is already the largest fully integrated solar plant in North America. On July 17 the company broke ground on a $97 million expansion project that will nearly double the current casting and sizing capacity to 150 MW and will create 70 new jobs. Construction is slated for completion by the […]

Real Crude Prices Higher Than Nymex Suggests

If members of the Organization of Petroleum Exporting Countries don’t increase output, and “assuming normal weather conditions this winter, total petroleum inventories would fall by over 150 million barrels, or 6.5%, by the end of the year, which would push prices to $95/bbl without a demand response,” Goldman analysts said in their report. “Nobody is […]

House boosts energy efficiency programs

The House voted Tuesday to award increases to programs aimed at making cars and buildings more energy efficient and boosting research and development of alternative energy sources. By a 312-111 vote, the House passed a $32 billion measure funding the Department of Energy budget and hundreds of Army Corps of Engineers water projects. yahoo

Russia to increase oil, product export duty from Aug 1

The export duty on oil in Russia is to increase on August 1 from $200.6 to $223.9 per tonne. interfax

Slick Connections: U.S. Influence on Iraqi Oil

Violating the very notions of freedom and democracy Bush invokes in nearly every speech on Iraq, the U.S. government has actively intervened in the restructuring of Iraq’s oil industry since at least 2002. At different times, the Iraqi government has been threatened that passing the oil law was a pre-condition for partial reduction of Saddam […]

A burning issue

Gordon Brown is facing his first major climate decision since taking office. As the Observer revealed on Sunday, the government is considering approving a new rush to coal that would guarantee that Britain would miss even its modest climate change targets. The prime minister’s decision over whether or not to approve these new coal-fired power […]

GreenField Ethanol Successfully Trials Membrane Dewatering Technology

GreenField Ethanol, Canada greencarcongress

World first: Flying high on pond scum

Air New Zealand and airliner manufacturer Boeing are secretly working with Blenheim-based biofuel developer Aquaflow Bionomic Corporation to create the world’s first environmentally friendly aviation fuel, made of wild algae. stuff

Why Milk Costs More Than Gas

Nicholas von Hoffman The other day milk was selling in a New England supermarket at $4.79 a gallon. Down the street, regular gasoline was going for about $3.04 a gallon. One of the factors driving up the cost of milk is the ethanol stampede. Ethanol, as we all have been taught to believe by now, […]

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