Shell Starts Evacuating Gulf of Mexico Staff as Storm Looms

Royal Dutch Shell PLC said it has started evacuating non-essential staff from its offshore Gulf of Mexico facilities. “Precautionary evacuation” of 300 workers happened on Tuesday, based on the “potential development of (a) tropical disturbance”, Shell said. “We are planning to evacuate approximately 400 more (today),” it said. The evacuation has no impact on the […]

OPEC’S export capacity to fall – Driving oil prices to US$100 barrel in 2008

Oil prices are likely to hit US$100 a barrel by the end of next year as soaring rates of domestic oil consumption in the world’s leading oil producing nations cuts into their export capacity, forecasts the chief economist at CIBC World Markets. Speaking at the 6th Annual Association for the Study of Peak Oil & […]

Greenland’s Jakobshavn glacier sounds climate change alarm

JAKOBSHAVN GLACIER, Greenland (AFP) – The chaotic cavalcade of blueish ice tumbling into the sea from the world’s fastest-moving glacier is sounding a daily climate change alarm, say scientists ahead of International Polar Day on Friday. The Jakobshavn Glacier, on Greenland’s west coast, is melting twice as fast as 10 years ago and advancing toward […]

Venezuela to Build Plant for Russian Trucks Production

At a press-conference in the framework of Russia-Venezuela business forum Venezuelan vice-president Jorge Rodriguez notified about the countryAt a press-conference in the framework of Russia-Venezuela business forum Venezuelan vice-president Jorge Rodriguez notified about the country

Severing car dependency in EU cities ‘very realistic’

Klaus Bondam, chairman of EuroCities’ Mobility Forum, a major partner of the annual European Mobility Week and Car Free day, and vice-mayor of one of Europe’s best performing cities in terms of sustainable mobility, shares his beliefs with EurActiv on how to deal with growing congestion and pollution in Europe’s urban areas.Copenhagen is often cited […]

Increase in Atmospheric Moisture Tied to Human Activities

A new study by an international team of researchers has identified a human “fingerprint” on the climate in the increasing total moisture content of the atmosphere, despite the relatively short length (19 years) of the observed water vapor data. The study appears this week in the online edition of the Proceedings of the National Academy […]

Gore highlights world population fears

The ballooning world population and the dizzying pace of technological change have helped turn mankind into an environmental “bull in a china shop”, says climate crusader Al Gore. The former US vice-president said the world population has quadrupled in 100 years.Though it is now stabilising, it is still increasing in developing countries with high rates […]

Brazil Ethanol Sector Fears ‘Delirious’ Growth

Low sugar and ethanol prices have been fueling the debate in Brazil on how this will affect investments and the forthcoming growth in the industry, which intends to lead the world’s rush for biofuels.“The industry is growing faster than a sustainable rate. That is why prices are falling so much,” said Plinio Nastari, president of […]

Where’s the water to grow biofuels?

How much water does it take to cultivate sugarcane, is it by any chance a water guzzler, what is India’s water balance, will raising sugarcane cultivation land us in a era of even greater water scarcity than the present energy scarcity? Almost nobody is publicly asking these questions, leaving the field open to the sugar […]

Peres says Israel to focus on green energy

President Shimon Peres touted Israel as a future think thank for solutions to global warming, quipping that the sun was a more reliable resource than oil from Saudi Arabia. “Israel in my judgment can and should become a laboratory, or a pilot plant, for most of the solutions which are necessary in our time,” he […]

Exodus for a place in the sun

In an Ernst & Young 2006 survey that ranked international markets by their attractiveness to renewable energy investors, Australia ranked 16th – fourth from the bottom. So it should come as no surprise that a significant number of Australians, well known in the sustainable energy industry, have been tempted by greener pastures. Those names include […]

German August Producer-Price Inflation Slows on Energy Costs

A rebound in oil prices to a record $82.38 a barrel yesterday threatens to push up inflation in the economy of the 13 euro nations as faster hiring gives companies room to pass on costs. European Central Bank council members including Axel Weber have signaled they’re ready to support raising interest rates further. “We expect […]

Inflation, rising oil prices to hurt Kenyans more

Rising international oil prices, which hit $81 a barrel yesterday, are likely to impact on domestic prices further as the country battles to contain inflation that has strayed out of the target single digit level. Even before the recent crude oil rally, fears of inflation pressure were already high after the meteorological department projected heavy […]

SK: Oil spike may spur inflation next year

The rise in crude oil prices, and domestic demand caused by the country’s economic recovery, could fuel a sharp rise in consumer prices next year, the Bank of Korea warned yesterday. The bank said that next year, the inflation rate for consumer goods is likely to rise to around 3 percent from the 2.3 percent […]

How Russia is Nationalized: The Oil Sector

The processes of nationalization in the oil sector are more visible than others and filled with more drama. Still, the state’s desire to capture an ever larger slice of the industy’s income seems logical. But often the methods and appetite of the state companies contradict this logic.The results of nationalization in the oil sector can […]

Oil Exec: Coherent Energy Policy Needed

NEW ORLEANS – Lack of a coherent U.S. energy policy threatens to feed into a sense of “energy insecurity” in this country, the president of Shell Oil Company said Tuesday. John Hofmeister told local business leaders it doesn’t have to be that way. “We have seen our country pass, in my opinion, the tipping point […]

Interview with Chris Cook, inventor of the Iran Oil Bourse

The next few days, the world will be holding its breath as the U.S. is drumming up support for highly controversial sanctions against Iran. The implications of such a move could be potentially disastrous and it’s likely we’ll see a showdown of who holds what kind of power and where on the planet. In a […]

Canadian panel calls for major hike in Alberta’s oil sands royalties

EDMONTON, Alberta: A government-appointed panel reviewing Alberta’s energy royalties called Tuesday for the oil-rich Canadian province to increase its total take from the energy industry by 20 percent a year, or roughly $2 billion Canadian (US $1.97 billion; Canada’s western region is home to vast reserves of the oil sands, a tar-like bitumen that is […]

Kurdistan ‘Hunts’ for Oil: The Kurds Make Their Own Rules

The Kurdistan Regional Government (KRG) recently passed their own benchmark oil revenue sharing legislation, separate from Baghdad, and has just signed their first oil production sharing contract with an outside company: Texas’ Hunt Oil Co. and Kurdistan’s regional government said Saturday they’ve signed a production-sharing contract for petroleum exploration in northern Iraq, the first such […]

Basra oil fuels fight to control Iraq’s economic might

The province sits on as much as 20 percent of the Middle East’s oil reserves. Basra, Iraq – It could be an “empire,” says one Shiite militia leader. For the provincial governor, Basra’s future is shimmering skyscrapers. He wants the Iraqi port city to be another Arab metropolis, perhaps the next Dubai. Many Iraqis With […]

OPEC Officials Play Down Need for 2nd Output Hike

LONDON – Top OPEC officials played down suggestions that sustained high oil prices would trigger a release of further crude by the cartel in a matter of weeks, saying it was premature to assume prices would remain lofty even as crude hit a fresh intraday peak of $81.60 a barrel on Tuesday. Exactly a week […]

Big oil

In Iraq, oil companies face a dilemma. They can wait for the central government in Baghdad to agree a new oil law that will give them a legal framework in which they can operate, and for the security situation to become manageable. Or they can press ahead and sign agreements with the Kurdistan Regional Government, […]

SEC Pressed to Require Climate-Risk Disclosures

One of the industries considered most vulnerable to climate change is the insurance industry, with shifting weather patterns threatening property in the nation’s most hurricane-prone areas. Yet in its 345-page annual financial report filed with the Securities and Exchange Commission this year, Allstate, which insures one out of every eight homes in the United States, […]

Scientist warns of climate change impact

LAS CRUCES, N.M. – Climate change could mean higher temperatures, less winter precipitation and less spring runoff for the Southwest, a climatologist says. Temperatures in New Mexico could increase by a few degrees by the end of this century, said Gregg Garfin, project manager of the Climate Assessment Project for the Southwest at the University […]

Kirkuk pipeline attack sets Iraq oil back

WASHINGTON, Sept. 18 (UPI) — The international oil market will still have to rely on Basra to supply Iraq Iraq produced just less than 2 million barrels per day last month, according to estimates by the global energy information firm Platts. The country usually exports slightly more than three-fourths of what it produces. Most of […]

The Oil Drum: The ASPO Conference – First Afternoon

The afternoon session of the first day of the Conference was chaired by the Economics Editor of RTE, George Lee who pointed out the general public lack of awareness of the current situation. He noted that when he did a program on the subject he was assailed by the Irish media, with negative cartoons, and […]

Oil price soars to record high after Fed rate cut

NEW YORK (AFP) In London, the price of Brent North Sea crude for November delivery advanced 61 cents to settle at 77.59 dollars per barrel. Oil prices, which have streaked to record highs in recent days on concerns about tight supplies and rising demand, bolted again on news that Federal Reserve policymakers had cut the […]

Rising surface temperatures drive back winter ice in Barents Sea

In a paper published in Geophysical Review Letters, Francis and Elias Hunter, a research specialist in Francis Should the warming trend continue — and all indications are that it will — there would be considerable economic and political implications.

Environmental group predicts sharp increase in oil, gas drilling across West

BILLINGS, Montana: Oil and gas drilling on federal lands across the Rocky Mountain West could increase by more than 160 percent over the next two decades due in part to pro-industry regulations enacted by the Bush administration, according to a report by an environmental group. The Washington, D.C.-based Wilderness Society analyzed drilling plans and said […]

UK: Car Ban by 2040

Petrol cars should be banned from the roads by 2040, the Liberal Democrats said yesterday. Environment spokesman Chris Huhne said steeper taxes must be slapped on gasguzzling cars and foreign lorries should be charged to drive in the UK.The money raised could be spent on rail investment, possibly creating a highspeed line running north to […]

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