Oil giants rush to lay claim to Iraq

The world’s oil majors will descend on two key conferences about Iraqi oil next month, seizing their last chance to jockey for position before the expected passing of the country’s hydrocarbon law sets off a scramble for its vast energy resources. Iraqi officials, including oil minister Hussein Shahristani, will attend the gatherings in Dubai in […]

Russia Keeps World Leadership in Oil Extraction

Russia retained the international leadership in oil extraction in June 2007, with a volume of 9.47 billion barrels a day, as reported by the National Statistics Committee Saturday. The crude oil inside the country’s export structure at the end of the first semester of 2007 represented 33.7 percent and 53.7 percent regarding hydrocarbons.OPEC member countries […]

India: Tough time ahead for refining & exploration cos

The refining margins of Indian refinery and exploration (R&M) majors in the coming quarters is expected to be lower than the first quarter of the current financial year. And if oil majors want to end the fiscal in the black, then oil bonds are necessary. These are but some issues highlighted in a recent Merrill […]

Oil-rich Kazakhstan soaring

Once a provincial Soviet town known for its fragrant apples and snow-capped mountains, Kazakhstan’s largest city, Almaty, is now engulfed in exhaust fumes and construction sites, an emblem of rapid progress choking on its own oil-fuelled economic boom. With real estate prices soaring, the cost of living in Almaty has overtaken Los Angeles and Frankfurt […]

Norway: Record low oil production in June

The production of oil on the Norwegian Shelf in June was the lowest for the month in 15 years. The average daily production reached 1,866,000 barrels, against 2,604,000 a day in June last year. Acording to the Oil Directorate, the reason for the drop was extensive maintenance carried out on many of the fields in […]

Truthout Interview: Leonardo DiCaprio’s Hour

As a celebrated actor, Leonardo DiCaprio has had many hours in the media sun, but mere celebrity does not seem to be enough for him. He also wants to change the world, and he has created a new documentary called “The 11th Hour” with that revolutionary purpose in mind. Concerned with global warming and environmental […]

Hydrogen power gets up to speed

Albert Gore III was clocked at more than 100 mph in a Toyota Prius. Perhaps police should be glad he didn’t get his hands on a Ford Fusion Hydrogen 999. Ford Motor Co. said this week that it set a land-speed record for a production-based hydrogen-fuel-cell-powered car when its prototype racer ran 207.3 mph at […]

Amid crisis of waste, why not turn valley back to agriculture?

How can Albuquerque survive a major economic downturn brought on by a confluence of drought, aquifer depletion, water pollution, an oil crisis and unpredictable weather patterns? Such a mess is on the way. First things first. Ending the war over water between predator developers and hard-up farmers and ranchers cannot be postponed. In a decentralized […]

Demand-Side Economics

It seems inevitable when Congress returns that there will be new energy legislation. Understandable. Civilizations cannot survive much less thrive without abundant, reliable energy supplies. The bellwether energy commodity, oil, is at prices at or near record levels, and turmoil continues in the Middle East, from which the world gets over one-third of its petroleum. […]

China’s new middle class in love with cars – big cars

…Unlike Japanese and European drivers, who favor the minicar (a two-seater about half the size of a compact car) and subcompacts, China’s new middle class wants mobility, power and elbow room. When they walked into the showroom of Chery, one of China’s largest automakers, the Liu family said they wanted fuel efficiency and practicality. At […]

China, Kazakhstan to Build Pipelines From Caspian Sea

Aug. 18 (Bloomberg) — The leaders of China and Kazakhstan agreed to finance and build a network of pipelines to supply the world’s fastest-growing major economy with oil and gas from the Caspian Sea region. “The Caspian will be linked to western China,” Kazakh President Nursultan Nazarbayev told reporters in the capital Astana today after […]

The Oil Drum: So they all knew it was a bubble, now?

As the markets keep on going through turbulence, and many conflicting opinions are heard as to whether this is just a harbinger of things to come (my position) or just a “welcome correction” (still that of most “serious” pundits and the conventional wisdom), what’s most striking to me – and very revealing on its own […]

Sugar growers may share ethanol action

Congress is hoping that an ethanol industry with an endless appetite for corn will have a sweet tooth too. Under the farm bill the House passed last month, the federal government would buy surplus sugar and sell it to ethanol producers, where it would be used in a mixture with corn. The program was inserted […]

Crude prices seen unmoved by global subprime woes: survey

LONDON: Oil prices are set to remain robust through next year despite the global markets shakedown in recent days, with banks and other institutions trimming their estimates marginally, according to the monthly Dow Jones Newswires oil price survey. The median US light, sweet crude price in the three months to September, compiled from 26 banks […]

Hurricane Dean Heads for Dominican Republic, Jamaica

(Bloomberg) — Hurricane Dean, expected to increase in intensity, roared past Puerto Rico, plowing its way west through the Caribbean Sea toward the Dominican Republic, Haiti and Jamaica. The storm is expected to reach Category 5, the highest level for tropical weather systems, and enter the Gulf of Mexico by Aug. 21, said U.S. National […]

Russian gas production falls for 3rd consecutive month

MOSCOW. (Interfax) – Russian natural gas production dropped for the third consecutive month in July, the Federal State Statistics Service (Rosstat) said on Thursday. Gas production dropped 2.8% in July 2007 from July 2006. Gas output dropped 0.7% in June 2007 compared to June 2006 and 1.8% in May. Gas output grew 0.2% and 0.1% […]

Ultra-deep drilling for oil is simply a red herring

GEORGE Kerevan argued in this column on 8 August that there is no shortage of oil in the ocean if we drill in the ultra-deep. This is a red herring. There is a simple rule about oil and gas reserves. The higher the oil price the more will get developed. At the moment there is […]

The E.U.’s Wind Power Self-Deception

Anyone who keeps half an eye on the world energy scene might have been seriously baffled by some of the recent news from Europe. Since the 1997 Kyoto Protocol agreement on climate change, no government in the world has been proclaiming its desire to save the planet from the evils of global warming more loudly […]

Too early to tell fire’s impact on gas prices

GAUTIER — Local and statewide gasoline suppliers said Friday it’s too early to tell what, if any, impact the fire at Chevron Refinery Pascagoula will have on fuel prices. The refinery fire started in the area where crude oil is processed. Workers were evacuated Thursday, but the refinery returned to operation Friday. Steve Renfroe, refinery […]

All the Canaries Have Stopped Singing

FSN Broadcast for Saturday, August 18 2nd Hour Guest: Matthew Simmons, Chairman, Simmons & Company International Financial Sense Newshour (audio)

Top suburbs costing the Earth

SHOPPING has been exposed as the big culprit in rising water use and greenhouse gas emissions – and Sydney’s most affluent suburbs are the worst offenders. New data shows the electricity and water used to produce everything people buy – from food and clothing to CDs and electrical appliances – far outweighs any efforts to […]

The Oil Drum Canada: The Status of Canadian Oil Production?

What that means for Canadian oil production is that any increase in oil sands production in coming years will be partially or completely negated by declining Atlantic Canada production, as well as declining conventional production in most of the rest of Canada. It will be harder to repeat the production increase of this year in […]

Oil, gas constitute largest Arab economic sector — study

KUWAIT, Aug 17 (KUNA) — Oil, gas and electric power generation make up one of the largest economic sectors, if not the largest, in the Arab Gulf area, a recent study showed. The study, entitled “Main characteristics of the Arab energy sector,” appeared in the latest issue of the “Kuwaiti” magazine, which is published by […]

Coal plants keeping the lights on

Nuclear power shortage forces province to rely on pollution-spewing system TORONTO — A temporary shortage of electricity from nuclear reactors in Ontario is forcing the province to run its coal plants longer to keep the lights on, causing a spike in greenhouse gas emissions and a potential headache for Premier Dalton McGuinty. Electricity output from […]

New Field for Earmarks in U.S. Goals on Energy

WASHINGTON, Aug. 17 The case of Jupiter Oxygen is an example of how companies in a variety of energy-related businesses, solar, biofuels and wind power, are lining up at the federal trough as the government shovels out billions of new dollars to reduce the nation

Energy policy is kowtowing, not co-operating, critics charge

Canada’s approach paradoxical, puzzling. We sell more natural gas to the U.S. than we use When the three leaders of North America met in Cancun, Mexico, last year to review progress on the Security and Prosperity Partnership, they agreed energy security was a top priority. As the leaders prepare to gather next week in Montebello, […]

Global Economic Meltdown: Six Dollars a Gallon?

Seems to me thereThere are disagreements among the participants about when the oily dance will come to a finale. Oil companies naturally don

Analysis: Mideast struggles to power area

WASHINGTON, Aug. 17 (UPI) — An economically burgeoning Middle East is facing stark choices as it decides how to fuel its growth, despite sitting on two-thirds of the world’s proven oil reserves. Countries in the region are facing rising demands on electricity, natural gas and fuel oil as their economies experience rapid development. While the […]

Peasant Group Calls for Review of Biofuels Law; Fears Land Grab, Displacement

THE PHILIPPINES – The militant peasant group Kilusang Magbubukid ng Pilipinas (KMP or Philippine Peasant Movement) called for the review of the Biofuels Law fearing that jathropa planting would intensify land grabbing and peasant displacement. The Philippine National Oil Company (PNOC) heads this project. The KMP opposes the setting up of a jathropa farm in […]

An Act of Economic Madness

…A recent piece by energy expert Michael Klare, “Entering the Tough Oil Era,” at Tomdispatch.com offers perhaps the crucial context within which to consider Cheney’s urge to launch an air assault on Iran. If we are, as Klare writes, leaving the realms of “easy oil” extracted from the most accessible places in the least unstable […]

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