Dean hits Mexico oil exports

A major US refiner cut runs and other buyers expected to see supply delays after Mexico was forced to shut in 80% of crude production due to Hurricane Dean. Anglo-Dutch supermajor Shell reduced throughput at its Deer Park refinery joint venture with Mexico’s Pemex after the state oil company shut in 2.65 million barrels per […]

Global warming to decimate China’s harvests

BEIJING (AFP) – Global warming is set to cut China’s annual grain harvest by up to 10 percent by 2030, placing extra burden on its shrinking farmland, state press reported Thursday. Zheng Guoguang, head of the State Meteorological Administration, said the impact of global warming means that China will likely need an extra 10 million […]

Oil sands plan said to draw fire

To process heavy Alberta crude, BP wants to dump up to 50% more pollutants into Lake Michigan, angering some NEW YORK (CNNMoney.com) — Plans to process a heavy grade of crude oil from oil sands in the Canadian province of Alberta have sparked a nasty battle in the Midwest, where some politicians are angry that […]

Peak Moment: The Social Effects of Peak Oil

How will rising oil prices affect low- and middle-class lives? Sociologist and professor Rowan Wolf sees at-risk populations growing while government services and class divides are increasingly strained. A member of the Portland Peak Oil Task Force, she discusses relocalizing our economies, to counter globalization based on an unsupportable grow-or-die economic model. Janaia Donaldson hosts […]

The X Factor: Economic Recession Is the IT Innovator’s Ally

…If you believe that we are right now at or near global peak oil production, then we are in for a humungous economic shock. It is hard to say how big, but in January 2007 dollars, oil peaked at over $100 per barrel in December 1979, and the current oil price is hovering around $72 […]

The OneWorldTV Richard Heinberg Interview

The catastrophic effects of declining oil supplies: journalist and author Richard Heinberg discusses the true consequences of ‘peak oil’. In this interview, filmed by our friends at Spanner Films (McLibel, Drowned Out, Baked Alaska), Heinberg makes clear the fundamental nature of oil as the bedrock of modern civilisation and the devastating impact our dependency upon […]

The Peak Oil Crisis: Hurricanes and Meltdowns

Earlier this week Hurricane Dean slammed into the Yucatan peninsula and crossed over into the Bay of Campeche where some 1.5 million of the 10 million barrels the U.S. imports every day are produced. While it is too early for a full damage assessment, at best a few days of production will be lost and […]

Angola to stay free of OPEC output constraints

OPEC’s newest member Angola is likely to stay free of the group’s output constraints so long as oil prices remain strong, giving the country scope for its plans to launch several oilfields in coming months. OPEC Secretary-General Abdullah al-Badri is scheduled to meet Angolan Oil Minister Desiderio Costa next week in Luanda to lay the […]

Maliki’s options rapidly shrinking

As Iraqi Prime Minister Nuri al-Maliki wrapped up a two-day visit to Syria aimed at appeasing the Arab neighborhood and the Sunnis within Iraq, a criminal court in Baghdad was bringing charges of genocide against 15 of Saddam Hussein’s strongmen. Judge Mohammad Uraibi, head of the Higher Criminal Court, accused former senior Iraqi officials of […]

Mining the Moon

At the 21st century’s start, few would have predicted that by 2007, a second race for the moon would be under way. Yet the signs are that this is now the case. Furthermore, in today’s moon race, unlike the one that took place between the United States and the U.S.S.R. in the 1960s, a full […]

Harvesting Power from the Ocean

Researchers from SRI International, based in Menlo Park, CA, recently completed the first ocean tests of a system that uses a so-called artificial muscle to generate power from the motion of a buoy riding up and down on the waves. Although the prototype produces very little electricity, the researchers say that wave farms based on […]

NZ: Fertiliser rise blamed on biofuel

The global rush to grow biofuels has raised fertiliser prices for Kiwi farmers by up to 80 per cent in the past two months. Hawke’s Bay-East Coast sheep and beef farmers, who apply fertiliser annually to maintain grass growth, say the price rises have added a worrying component to their balance sheets – on top […]

Sea Rise Seen Outpacing Forecasts Due To Antarctica

A thaw of Antarctic ice is outpacing predictions by the UN climate panel and could in the worst case drive up world sea levels by 2 metres (6 ft) by 2100, a leading expert said on Wednesday. Millions of people, from Bangladesh to Florida and some Pacific island states, live less than a metre above […]

China’s eco-entrepreneurs step up

China’s social entrepreneurs have taken up the environment as a principal concern, aided by international expertise and funding for a range of activities. The Shanghai Industrial Investment Corp has partnered with design and engineering firm Arup to build the Dongtan eco-village on a marshy island off the coast of Shanghai. Dongtan, slated to sustain 500,000 […]

The Oil of Gazprom to Spread Throughout Asia

In an effort to conquer retail markets of CIS, Gazprom Neft has incorporated subsidiaries in Kazakhstan and Tadjikistan. In the long term, the company intends to promote the chains of fuel stations there, though its today’s business is limited to wholesale trading in crude oil. The analysts say this move of Gazprom Neft is well-timed; […]

Kurd oil law drives Iraq oil

Iraq’s Kurdistan Regional Government will not wait for a federal oil law before it starts signing more contracts to explore what is thought to be sizeable reserves in its territory. The KRG has already signed a handful of contracts with small oil companies and, now that it has passed a regional law governing any underground […]

Singapore’s industries well insulated against oil price changes

Oil prices have remained high in recent weeks, keeping near US$70 a barrel.In Singapore, basic market forces have already made an impact in encouraging the use of oil alternatives.Khoo Chin Hean, chief executive of Energy Market Authority, said: “We were powered by oil. But over the last five to six years, we’ve made the switch […]

Oil shortfall hits rebuilding in South Sudan

Lower than expected oil exports this year have left the government of South Sudan struggling to find cash for urgently needed infrastructure development following years of conflict, officials said. More than 95 percent of the semi-autonomous region’s income comes from oil revenues, which finance ministry figures showed fell from $76 million in January to $28.9 […]

Ghana ‘world-class’ oil discovery boosts Tullow’s share price

It became famous as the Gold Coast, so rich in the precious metal that the Portuguese, Dutch and British squabbled for generations over colonial rights and the swath of land in West Africa. Now Ghana’s fortunes could be transformed by “black gold” and what a British oil company hopes is its biggest discovery. Tullow Oil […]

S.African state may demand first pick of uranium

South Africa may compel local miners to first offer uranium to the state to feed the country’s expanding nuclear energy programme, a senior official said on Wednesday. The government announced this month it would ramp up use of nuclear energy as it moves to meet fast-growing demand for power, using the country’s large resources of […]

Biofuels criticism ignores wider picture

A scientific study reported widely around the world over the past week concludes that forests are much better than biofuel crops for reducing greenhouse gas emissions and fighting global warming. The authors, British researchers Renton Righelato and Dominick Spracklen, argue that “if your primary concern is reducing carbon dioxide emissions, growing biofuels is not the […]

Japan eyes chopsticks for biofuel

Officials in Japan say the country will try to turn the millions of wooden chopsticks that go discarded each year into biofuel to ease the country’s energy shortage.Restaurants and convenience stores generally hand out disposable, wooden chopsticks without asking. According to government data, each of Japan’s 127 million people uses an average of 200 sets […]

China Courts Turkmens As Russian Gas Sputters

China is hedging against a slow-going Russian gas deal by aggressively pushing for imports from Turkmenistan, which could force Moscow to accept Beijing’s price demands or watch its Asian strategy unravel. China’s plan to buy 30 billion cubic meters of Turkmen gas per year — more than half its current consumption — shows Beijing is […]

Aus: Green energy market unviable: Vestas

A major world supplier of wind farm technology has been forced to turn its back on Australia because, it says, the green energy market is unviable. Vestas Australia Wind Technology will close its Portland turbine blade factory at the end of the year because it is not profitable.One hundred and thirty jobs will be lost, […]

As Oil Revenues Boom, Islamic Banking Goes Global

After decades on the economic backburner, flush oil revenues are giving Middle Eastern companies and investors new prominence on the global financial stage. As a result, rising demand for Islamic-friendly investments is forcing multinational corporations — and not just in Muslim-majority countries — to consider what the Quran has to say about their business practices. […]

Saudi Arabia is top oil supplier to China

Saudi Arabia was the top supplier of crude oil to China in July, beating Angola, Oman and Russia as the Middle Eastern country increased exports to gain from demand in the world’s fastest-growing major economy. Saudi Arabia, the world’s biggest oil producer, exported 2.33 million metric tons of crude oil to China last month, about […]

Western oil major’s bid: breakthrough for troubled Iraqi industry

The prospects for Kurdish oil were given a boost yesterday when DNO, a Norwegian explorer, said that a big oil company had offered $700 million (DNO declined to name the interested purchaser, describing it as “a large international oil company”. Speculation yesterday centred on Statoil, the Norwegian oil multinational, which recently revealed plans to open […]

Research boom in Arctic village as oil reserves draw big powers

Lying barely 650 miles from the North Pole and shrouded in freezing darkness for several months of the year, the Norwegian islands of Svalbard make an unlikely property hotspot. Yet at Ny-Alesund, a tiny former coal-mining settlement on the west side, an international boom is under way. The Chinese have moved in, bringing with them […]

Oversupply still hurting oil producers in Rockies

Rocky Mountain oil producers are still smarting from an 18-month supply glut that has left their petroleum priced well below national averages. Rising imports of oil from Canadian tar sands, increased domestic production and a series of refinery shutdowns have left the Rockies awash in crude. At the peak of the oil surplus in February […]

Shrinking supply of Venezuelan oil to the US

Sagging supply of byproducts has been the main reason for the decline of oil shipments to the United States. Still, Venezuela continues being among the top five in the ranking of major oil suppliers Venezuela provided the United States with an average of 1.31 million bpd of crude oil and byproducts in June, a drop […]

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