The Oil Drum: Peak Lite Revisited

While I believe that a global peak in worldwide oil production presents an unprecedented challenge to the way most of the Western world lives our lives, I do not believe that world oil production has yet peaked. However, in looking at the new oil capacity that is scheduled to come online, and contrasting that with […]

Potential Energy Crunch May Bring Other Fuels to Fore

World oil and gas supplies from conventional sources are unlikely to keep up with rising global demand over the next 25 years, the U.S. petroleum industry says in a draft report of a study commissioned by the government. In the draft report, oil-industry leaders acknowledge the world will need to develop all the supplemental sources […]

India, Colombia Add Most Number of Rigs in June, Report Says

Energy explorers in India and Colombia added the most number of rigs outside the U.S. and Canada in June as companies expanded onshore drilling. India and Colombia each gained five rigs compared with May, a U.S. drilling service provider Baker Hughes Inc. said in a report today on its Web site. Indian companies including Oil […]

Oil climbs to $78 and eyes all-time high

Oil rose to $78 a barrel on Monday, driven towards an all-time high by an influx of speculative fund money and tightening crude supplies from the North Sea. London Brent climbed to a fresh 11-month high of $78.40 in earlier trade, just 25 cents shy of the record peak reached last August. By 1 p.m., […]

State offers $1,000 rebate to hybrid-vehicle buyers

People shopping for a new car have an additional incentive to buy a hybrid vehicle. State Treasurer Alexi Giannoulias on Sunday announced Green Rewards, a state initiative that will offer a $1,000 rebate to consumers who buy hybrid or energy-efficient automobiles. ChicagoTribune

Egg prices up as corn feeds ethanol boom

As the price of eggs in the supermarket continues to rise this summer BangorDailyNews

Chavez denies being anti-US

We are not against the US people, where there are children, women, intellectuals and students. We have investments in the US, we have eight refineries there, we have 14,000 gas stations. I have many friends there, I have played baseball there, I even have a nephew there. What we are against is the imperial elite […]

Hundreds of Iraqis protest draft oil law

About 300 oil industry workers gathered in Iraq’s main oil port of Basra today to protest a draft law that they said would allow foreigners to pillage the country’s wealth. ‘To compensate for the military and political failure of the US administration in Iraq, this administration is trying to control the country’s wealth,’ the organisers […]

China’s CNOOC wins Somalia oil exploration rights

China’s state-owned CNOOC has been granted exploration rights by Somalia’s interim government, the Financial Times reported. CNOOC (nyse: CEO – news – people ) met with Somali government officials last month to firm up details of its survey program, which is due to begin in September. CNOOC’s rights cover northern Somalia’s Mudug region, following a […]

Oil Pipeline Plan Raises EU Fears

A new Russian crude oil export pipeline may cut supplies to refineries in Hungary, Slovakia, Germany and other central European countries, PVM Oil Associates said Friday. Russia plans to build a new link that will deliver at least 1 million barrels of oil per day for export by tanker from the port of Primorsk on […]

OPEC sees strong oil demand growth in 2008; refinery problems to persist

OPEC said it sees continued strong growth in world oil demand next year and it warned refinery problems are likely to persist. The cartel said in its July monthly report world refining capacity growth in 2008 will fall short of the amount needed to keep up with projected oil demand growth, and is likely to […]

Emissions don’t make Europe happy

Europe’s carbon emissions have risen markedly over the last 40 years, but the extra fuel use has brought little increase in happiness, a report says. Written by the New Economics Foundation (Nef), it says that reducing social inequality and energy consumption are key drivers of improved wellbeing. BBC

Paris mobilises pedal power to cut traffic and pollution

Thousands of Parisians pedalled into Sunday traffic astride stately grey bicycles yesterday after the opening of an ambitious scheme to turn the car-snarled French capital into the eco-friendly City of Bike. In the hot midday sun, a network of 750 high-tech stations went live, releasing 10,600 bicyclettes at very low cost to anyone with a […]

Surge in biofuel production pushes up food prices

A surge in the production of biofuels derived from corn, wheat and soyabeans is helping to push up food prices so sharply that the World Food Programme, the United Nations agency in charge of fighting famine, is finding it difficult to feed as many hungry people as it has in the past. Josette Sheeran, WFP’s […]

Brazil to Build Dams Despite Bolivian Concerns

Despite Bolivian concerns about the environmental impact of two dams slated for construction in the Amazon region, Brazil’s foreign minister said Friday they would be built as planned.The US$11.6 billion hydroelectric plants near the Bolivian border could become the latest in a series of bilateral disputes that began when Bolivia nationalized its gas industry in […]

UN warns it cannot afford to feed the world

Rising prices for food have led the United Nations programme fighting famine in Africa and other regions to warn that it can no longer afford to feed the 90m people it has helped for each of the past five years on its budget.Josette Sheeran, WFP executive director, said in an interview with the Financial Times […]

India: Hydrogen energy for transport sector by 2020

India will be ready with hydrogen fuel for the transport sector as a major alternative to fossil fuels by 2020, according to scientists. “We are sure that by 2020, India can use hydrogen as an alternative fuel,” S Banerjee, director, Bhabha Atomic Research Centre (BARC) said.BARC scientists are also optimistic that by 2017, they will […]

Turkey returns to energy chess game

Turkey made an important move in the energy chess game when it signed a Memorandum of Understanding (MoU) with Iran over the weekend that will make both Russia and the US rethink their positions on gas policies in particular and on energy policy in general, said Cenk Pala, director general of strategic relations at state-owned […]

Rising demand for nuclear energy among Asian nations

Asian countries are lining up to expand or introduce nuclear power. All say they need it to meet surging demand for electricity to run their growing economies. Yet the enlargement of nuclear generating capacity being planned by so many states is raising fears about catastrophic accidents and the spread of nuclear weapons in the region, […]

South Africa: No cheer in the oil story

Oil prices approaching $100/barrel, until recently dismissed as the industry’s Utopia, now look like a dead certainty over the next few years. It’s a scenario that presents SA’s economic policy makers with formidable headaches. On the monetary policy front it will inevitably push the current account into even wider deficit, threatening the relatively steady performance […]

Yemen: Oil production will increase by 2009

According to Minister of Oil, Gas and Mineral Resources Khalid Bahah, Yemen’s Oil and Gas prospects in 2009 is quite optimistic. Crude oil production is to reach 500,000 barrels per day; Extraction capacity from current reserves will increase from 30% to 70%; and income from sale of natural gas will reach US$ 1-2 billion per […]

Uganda: Disputed Buliisa Land Sitting On Vast Oil Deposits

Ethnic clashes in Buliisa District in Western Uganda could have more to do with oil discoveries than grazing rights. Contrary to the impression created that the Bagungu natives and the Balaalo pastoralists just woke up a few weeks ago and started feuding over rights to use land for either cultivation or grazing, the groups unknowingly […]

Niger hopes for oil riches under northern desert

Niger plans to award oil exploration permits by the end of next month for a vast block under the Sahara desert it hopes will turn it into Africa’s newest crude producer. The landlocked former French colony is one of the poorest states on earth but is sandwiched between oil producers Nigeria to the south and […]

Chechen president accuses Moscow of hoarding oil revenues

Chechen President Ramzan Kadyrov accused Moscow in an interview published Friday of hoarding oil and tax revenue needed to rebuild the war-shattered republic. ‘Everything is ruined here, and the funds aren’t being spread around. The federal centre takes our income. Oil, taxes — they take them both, and tell us: ‘Okay, build’,’ Kadyrov told daily […]

Japan shuts units at top nuclear plant after quake

Tokyo Electric Power Co. has shut down three major generators at the world’s biggest nuclear power plant after Monday’s powerful earthquake in Japan caused a brief fire in one of the units, company officials said. reuters

Nanotechnology’s potential to reduce greenhouse gases

The report of the study, “Environmentally beneficial nanotechnologies: barriers and opportunities” (pdf download; 748 KB), investigates the opportunities and potential obstacles to adoption of a number applications of nanotechnology which could be used to cut use of non-renewable energy sources and reduce greenhouse gas emissions. Five nanotechnology applications were subject to detailed investigation: fuel additives, […]

Nanoscale Device for Fuel Cells Can Store More Hydrogen Than Any Other Material

This problem could be solved by a recently found nanoscale solution, as scientists in Greece announced that they found a new way of storing hydrogen in carbon nanoscrolls. These materials can store more hydrogen than any other material and are safe to use for future vehicles and portable applications. softpedia

Russia will also take part in Venezuela

Venezuelan Energy & Oil Minister Rafael Ramirez has pointed to prospects for stronger cooperation with Russia vheadline

New Oil Reports Add Confusion To ‘Peak Oil’ Theory

Proponents of “peak oil” — the theory that global crude oil production has hit its zenith and is headed for a steep decline — are upset with a U.S. oil industry group’s findings that the world has plenty of oil. Next week the U.S. National Petroleum Council — a board of high-level U.S. oil industry […]

Are these the last days of the Oil Age?

The oil peak debate can be left to the oil analysts. It is a complex issue, and there are some grounds for questioning the most pessimistic forecasts, including the likely development of the Canadian tar sands, and the success of American enhanced oil recovery techniques. Past forecasts of oil depletion have often proved wrong, and […]

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