The World Economy is Doing Well with the Rise in Oil Prices

A number of economic declarations have been issued recently by major countries indicating that the world economy is performing well with high oil prices, without any increase in inflation accompanying the rise, unlike in the past. The US Department of Commerce announced that the US’ GDP rose by 3.4% in the second quarter of this […]

Beijing hits oil lines

Rising global oil prices are straining relations between economic policymakers in Beijing and the nation’s largest state-owned oil and gas companies as long queues for gasoline begin forming around the country. The National Development and Reform Commission – the economic planning agency that sets energy policy – issued a notice on Saturday ordering PetroChina (0857) […]

Peak Oil – less tourism?

The Government of T&T has chosen tourism as one of the economic pillars for the country’s diversification away from energy. So much so that we are creating in Trinidad waterfront hotels and a conference centre with the hope also of attracting the business tourist, and the more general kind to Tobago. These plans are consistent […]

Towns prepare for ‘peak oil’ point

Some forecasters say we’ll hit peak oil in 20 years, some people say we already have. What is a certainty is that we face a future where oil will become increasingly scarce. Which is where the concept of transition towns comes in.Transition towns are communities which have accepted that peak oil will happen and have […]

Why ‘peak oil’ may soon pique your interest

World oil production peaked in 2005, says one expert, and that presents serious problems in the future. Do a Google search of the Web on “global warming” and it calls up more than 80 million references. Search for “peak oil” and the number exceeds 10 million. In two years or so, world concern over crude […]

Lake Superior changes puzzle scientists

MARQUETTE, Michigan — Deep enough to hold the combined water in all the other Great Lakes and with a surface area as large as South Carolina, Lake Superior’s size has lent it an aura of invulnerability. But the mighty Superior is losing water and getting warmer, worrying those who live near its shores, scientists and […]

Walking to the shops

Walking does more than driving to cause global warming, a leading environmentalist has calculated. Food production is now so energy-intensive that more carbon is emitted providing a person with enough calories to walk to the shops than a car would emit over the same distance. The climate could benefit if people avoided exercise, ate less […]

Venezuela’s Mega Gas Pipeline Plans Held Up

CARACAS – The South American mega-pipeline project to transport natural gas from the Caribbean to the River Plate, supplying a large part of Brazil en route, “has cooled down because of attacks from within South America itself” and due to attempts by the United States to delay the plans, complained Venezuelan President Hugo Chavez. The […]

Pdvsa will not overcome the political clash

If socialism is to be used to label the whims of President Hugo Chavez, then it can be inferred that it failed, according to the ex senior official with state-run oil holding Petroleos de Venezuela Against the background of public claims of multiple corruption cases in the domestic oil business, Pedro Mario Burelli, a specialist […]

Pakistan: All energy targets missed

ISLAMABAD (August 04 2007): The government has missed all energy sector targets, reflecting badly on everyone involved. An official document, made available to Business Recorder, indicated that President General Pervez Musharraf had fixed targets for the government in 2005 and given clear direction to achieve them through a better strategy. But none of the targets […]

Big Oil coming to India, finally

Exxon, Chevron & Conoco may participate in NELP-VII. ExxonMobil, the worldNone of the three participated in the sixth round of auctions in March this year, when the government allotted 55 blocks. More global giants lining up bids is being seen by government officials as proof that scepticism over the Indian exploration and production market is […]

Economists Find Current Biofuel Potential in Oregon May Be Costly and Limited

CORVALLIS, Ore. – The adoption of biofuels in Oregon could reduce the state’s fossil fuel use by less than one percent, but at a much higher cost to society than more direct approaches such as a gasoline tax or raising fuel economy standards. That is the conclusion of a study published this week by the […]

Pakistan economy burdened as oil imports hit record

ISLAMABAD Pressed by this growing demand, and to ease pressures on the balance of payments, the government has annnounced incentives and tax breaks for foreign and domestic producers of oil and gas in the form of the just-unveiled Petroleum Exploration and Production Policy (PEPP)-2007. The State Bank of Pakistan (SBP), the central bank, for which […]

Oil official blames higher prices on growing political tension

KUWAIT, Aug 5 (KUNA) — Assistant Undersecretary for Economic Affairs at the Ministry of Oil Nawal Al-Fezeih, who is also Kuwait’s representative at the Organization of Petroleum Exporting Countries (OPEC) on Sunday played down the current hikes in price of Kuwaiti crude oil. Al-Fezeih, who was speaking to the Kuwait News Agency (KUNA) in an […]

Global warming deniers gain funds

Since the late 1980s, this well-coordinated, well-funded campaign by contrarian scientists, free-market think tanks and industry has created a paralyzing fog of doubt around climate change. Through advertisements, op-eds, lobbying and media attention, greenhouse doubters (they hate being called deniers) argued first that the world is not warming; measurements indicating otherwise are flawed, they said. Then they claimed that any warming is natural, not caused by human activities. Now they contend that the looming warming will be minuscule and harmless.

MSNBC

Going Green Without Starting From Scratch

Consumer interest in green construction has continued to grow, but few people can afford to build an environmentally friendly house from the ground up. They don’t have to, says architect Kelly Lerner, co-author of “Natural Remodeling for the Not-So-Green House.” Q How do you define green construction? What are the most important things to take […]

Do your part to destroy the Earth

By now, most of us have heard of peak oil, the concept that we’ve tapped the majority of the world’s oil reserves and are now on a downward trajectory. As far as peak water goes, we ran out of clean water years ago, with five countries completely out of fresh, clean water. Saudi Arabia is […]

Strained to breaking, Iraq

BAGHDAD Power supplies in Baghdad have been sporadic all summer and now are down to just a few hours a day, if that. The water supply in the capital has also been severely curtailed by power blackouts and cuts that have affected pumping and filtration stations. Karbala province, south of Baghdad, had been without power […]

‘Hot fuel’ putting oil companies in hot seat

…The oil companies are again in the hot seat, trying to fend off claims they’ve been taking advantage of motorists for decades by not taking temperature into account when dispensing fuel during the summer months. The industry has been adjusting for temperature when selling fuel in bulk at the wholesale level since the 1920s. But […]

Minnesota Gov. Ready To Consider Gas Tax

ST. PAUL, Minn. — In wake of the Minneapolis bridge collapse, Minnesota Gov. Tim Pawlenty is now willing to back off his opposition to a state gas tax increase, a spokesman said Friday. The approval of a transportation funding bill would come at a possible special session, said Pawlenty spokesman Brian McClung. Minnesota hasn’t raised […]

Zimbabwe ‘has come to a standstill’

Zimbabweans trying to survive food shortages, lengthy power outages, lack of fuel and other economic and social pressures have found a way to let the world know of their suffering – regular emails to friends and family abroad. This despite threats by the Zimbabwean government that all emails and phone calls are to be monitored. […]

Market Meltdown: Understanding Climate Economics

…The Stern Review outlines the economic costs of climate change (declining food and water supplies, coastal flooding, storm damage, the extinction of up to half of all land species), the distribution of those costs (to be borne most acutely by poor subsistence farmers), and the economic ethics of why the rich must act to help […]

Deffeyes on the NPC report

In my view, the halftime show is over, we’re now into the second half. On July 18, 2007, the National Petroleum Council posted a major report on the Internet with the title “Facing the Hard Truths about Energy.” The NPC report, two years in preparation, is in response to a request from the US Secretary […]

Making data centers greener

While the high-tech industry pursues solutions to global warming, it’s also contributing to the problem. Ever-multiplying computer server facilities will double their consumption of energy in the next five years, according to a U.S. Environmental Protection Agency study sent to Congress on Friday. EPA officials and some industry leaders hope the findings will spur policies […]

India on African safari, hunting oil

China’s increasing influence in Africa has attracted great attention in recent years. But Asia’s other rising power, India, is also becoming more active on this front, as its economic links are moving beyond its traditional partners in the British Commonwealth. India’s economic activity in Africa goes far beyond its ever popular Bollywood movies. Indian investment […]

BRAZIL: Amazon Fruit Gatherers Face Biofuel Dilemma

The babacu, an abundant native palm tree in the eastern Amazon and in the north and northeast of Brazil, has great potential for the production of “biodiesel” and biomass fuel, but the women who make their living from gathering its fruit fear the loss of their traditional source of income. “Experience leads us to predict […]

Cold war breaks out as Russia freezes out rivals in Arctic

Buoyed up by steadily rising oil and gas prices, Russia has become financially much stronger – and now boasts $420bn (The other nations with a claim to this treasure – at least by proximity – are Norway, Canada, the US (because of Alaska) and Denmark (via Greenland). But Russia’s Arctic Sea coastline is by far […]

Energy Search Goes Underground

BASEL, Switzerland — When tremors started cracking walls and bathroom tiles in this Swiss city on the Rhine, the engineers knew they had a problem. “The glass vases on the shelf rattled, and there was a loud bang,” Catherine Wueest, a teashop owner, recalls. “I thought a truck had crashed into the building.”But the 3.4 […]

Oil sector’s big issue now delivery, not discovery

So, what happened to $100-per-barrel oil? On Wednesday, the price of US light crude reached $78.77, briefly topping last summer’s record and then subsided. A few dreary bulletins about the US economy and signs that American petrol stocks were rising were enough to kill the excitement and stall the rally. Those investors who are obsessed […]

Canada’s oil sands mergers get painfully pricey

Fat wallets and limited opportunities elsewhere may continue to push acquisitions in Canada’s oil sands region, analysts say, though soaring costs may leave the sector open to only the very biggest companies.“Producers are flush with cash and their opportunities globally are getting slimmer because their access to resources is getting cut off in other countries,” […]

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