China’s gasoline imports soar in August

BEIJING: Amid an auto boom, China’s gasoline imports hit a ten-year high in August after the country’s economic planner ordered state-owned oil firms to make up shortfalls in supply. Imports reached 45,000 tonnes last month, up 7,896 per cent from August last year. Meanwhile, exports shrank to 257,000 tonnes, down 18.3 per cent from August […]

S. China faces fuel crunch as oil firms battle Beijing

DONGGUAN, China, Sept 28 (Reuters) – “Meiyou, meiyou” — “None here, none here!” the petrol station attendant shouts, waving his arms at a small truck pulling up to the diesel pump to signal that it is dry. Without stopping, the truck rolls on in search of the fuel elsewhere — another casualty of the low-profile […]

Abu Dhabi: Adnoc to cut supplies

Abu Dhabi National Oil Co (Adnoc) has notified more Asian term lifters it will sharply cut November exports of its three offshore crudes due to oilfield maintenance, trading sources said. Adnoc, the main oil producer for UAE, an Opec member, notified a Japanese lifter that its supply of Umm Shaif, Lower Zakum and Upper Zakum […]

Norway: No oil development at Snoehvit

Statoil will cease all work relating to the development of the oil zone at the Snoehvit oil and gas field in the Barents Sea. This has been decided by the Snoehvit partnership. Evaluations undertaken show that such a development would not be economically viable, Statoil states. An appraisal well was drilled in the Snoehvit structure […]

Russia warns of retaliation on EU energy plan

(MOSCOW) – Russia sees EU plans to limit foreign investment in its energy sector as violating free market principles and will respond if the measures are enacted, a top Russian official warned Friday. “It has unfortunately become fashionable among various states to take decisions limiting foreign investment” in the energy sector, First Deputy Prime Minister […]

China

Among the worldCNPC is the remnant of the former Petroleum Ministry, which was reorganized into a company in 1988. Since its creation, CNPC has looked after the country

Ethanol, schmethanol

Everyone seems to think that ethanol is a good way to make cars greener. Everyone is wrong SOMETIMES you do things simply because you know how to. People have known how to make ethanol since the dawn of civilisation, if not before. Take some sugary liquid. Add yeast. Wait. They have also known for a […]

Recasting Big Oil’s Battered Image

Ads by Chevron and Others Aim to Send Positive Messages A 2 1/2 -minute television commercial will debut this weekend, directed by Lance Acord, the cinematographer on “Lost in Translation,” “Being John Malkovich” and “Marie Antoinette.” It will feature music by the British composer Paul Leonard-Morgan, who was recently commissioned to write a piece for […]

Petrodollar flush

The sleek-feathered Arabian falcon perched on the arm of Shaun Wright-Phillips, the Chelsea and England winger, looked nonplussed. The birdEtihad, the Gulf region

Country Split Over Global Warming Widens Among Evangelicals

Suzii Paynter, director of the public policy arm of Texas’s biggest group of Baptist churches, traveled to central Texas early this year to talk to a local preacher about a pressing “moral, biblical and theological” issue. She wanted to discuss coal. Christians have a biblical mandate to be “good stewards of God’s creation,” Ms. Paynter […]

Nuclear power surge coming

In the next 15 months, US regulators expect applications for up to 28 new plants. With this week’s application to build a new nuclear plant But the renaissance may be less robust than it looks. Even if the projects are successful and building proceeds at breakneck speed, the lead times are so long and costs […]

Big Oil’s Big Stall On Ethanol

Even as it pockets billions in subsidies, it’s trying to keep E85 out of drivers’ tanks For some industries, the prospect of $3.5 billion in federal subsidies now, and double that in three years, might be a powerful incentive. But not, apparently, for the oil industry, which is seeing crude oil prices soar to record […]

Toyota denies battery woes delay next Prius

Report warned deployment of lithium-ion cells could take two years TOYOTA, Japan – Introduction of the next version of Toyota’s hit Prius gas-electric hybrid won’t hinge on the development of a more efficient battery called lithium-ion, a senior Toyota executive said Friday. The executive brushed off a recent Wall Street Journal report that said Toyota […]

Poll: Many pessimistic about environment

WASHINGTON – People want their leaders to move boldly to help the environment but give them dismal grades for their actions so far, according to a poll released Wednesday that highlighted rampant pessimism on the issue. Only about one in five voiced approval of how President Bush, Congress and U.S. businesses have been handling the […]

Arctic ice retreats into uncharted territory

On October 1st, the National Snow and Ice Data Center (NSIDC) will issue a report summarizing the 2007 Arctic sea ice season, and NASA will issue a press release on a new sea ice study by NASA/JPL researchers. NASA has created new images in support of these and other reports about the remarkable decrease in […]

Beneath Booming Cities, China

SHIJIAZHUANG, China

ANALYSIS – Record coal prices hammer power generators

LONDON (Reuters) – Record high coal prices and tight supply are piling the pressure on electricity generators already hit by soaring oil markets and high gas prices, industry players say. Coal fuels about 40 pct of global power generation. Physical coal prices for delivery into Europe have risen by over 50 percent this year. High […]

Technological Advances to Quench Thirst for Oil

Oil markets are in turmoil, admits Saudi Minister of Petroleum and Mineral Resources Ali Al-Naimi in an interview in New York. With Saudi Arabia currently accounting for almost one-fifth of global crude exports and analysts expecting it to meet a quarter of the world’s increasing crude thirst in the near future, the global dependence on […]

The Climate Change Peril That Insurers See

…Ten years ago, Peter Levene, chairman of Lloyds of London, was skeptical about global warming theories, but no longer. He believes carbon emissions caused by human activity are warming the Earth and causing severe weather-related events. “At Lloyds, we feel the effects of extreme weather more than most,” he said in a March speech. “We […]

Living in the ‘Last Hours’

I read Thom Hartmann’s The Last Hours of Ancient Sunlight because it was an assignment for a class. It has, however, proved itself one of the most important books I read this year. Last Hours describes in great detail how the earth’s fragile ecology is on the brink of total collapse. If there was ever […]

The Oil Drum: Analysis of the Hon. John Dingell’s carbon-tax proposal

Rep. John Dingell has a long history of opposing fuel-economy increases and other “green” initiatives. His position as defender of Detroit’s remaining auto industry more or less forces him to support the production of whatever vehicles are still profitable there, regardless of what they do to US energy security, balance of trade or global climate. […]

Kunstler: America’s New Religion, Part II

Suburbia is going to fail. You can state that categorically: It’s going to fail in terms of investment and it’s going to fail in terms of utility. We’re not going to be able to use it; we’re not going to be able to make those trips from 38 miles outside of Minneapolis and Dallas. The […]

Kunstler: America

Okay, here But get this; no combination of alternative fuels or systems for running them will allow us to run Walt Disney World, Wal-Mart, and the interstate highway system. We

ASPO 06 Have we reached the tipping point?

It seems to me that we have reached several important tipping points this year in relation to Peak Oil, Climate Change and their impact on public consciousness. Peak oil is a geological tipping point, but I am more interested in psychological tipping points: when Peak Oil enters the general consciousness and stops being a dubious […]

The Peak Oil Crisis: Has the Media Become the Message?

With every passing month, evidence peak world oil production has either passed or is getting very close becomes stronger. Last week, the world peak oil conference in Ireland, heard that the best available data now suggests there may only be about 250 billion barrels of oil left to find rather than the generally accepted figure […]

Climate change bill calls for 50-cent fuel tax

WASHINGTON (Reuters) – U.S. drivers would pay a 50-cent tax on each gallon of gasoline they pump to encourage less fuel use and cut greenhouse gas emissions, under draft legislation to fight global warming released on Thursday. “In order or reduce greenhouse gas emissions and make the planet safe and healthy for future generations it […]

Oil prices back above $83 a barrel

BANGKOK, Thailand – Oil prices rose back above US$83 a barrel in Asian trade Friday, adding to gains in the previous session sparked by a decline in crude inventories at a key Oklahoma terminal and the confrontation between the West and Iran. Light, sweet crude for November delivery rose 29 cents to US$83.17 a barrel […]

Boeing, Air New Zealand, Rolls-Royce Announce Biofuel Flight Demo

Boeing, Air New Zealand and Rolls-Royce announced a Memorandum of Understanding to conduct a biofuel demonstration flight designed to help accelerate the development of viable and sustainable alternative fuels for commercial aviation uses. Boeing is exploring second-generation biofuel feedstocks and processes that have the potential to reduce greenhouse gases throughout their entire lifecycle.The demonstration flight […]

Taiwan to Boost Windpower by More Than 5-Fold

Taiwan is planning to invest around T$30 billion (US$915 million) over the next three years boost its wind power generation by more than five-fold, by inviting private firms to bid for the right to build turbines, energy officials said on Thursday. Taiwan, which must import over 98 percent of its fuel needs now, is hoping […]

Australia Beef Crisis Hits as Drought Decimates Wheat

Record high grain prices have thrown Australia’s A$4 billion (US$3.5 billion) beef cattle industry into disarray, emptying feedlots, cutting cattle saleyard prices and triggering price rises for domestic and exported beef. The world’s biggest beef exporter by value and the second-biggest exporter by volume, parts of Australia’s beef industry have begun to shut down after […]

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