Natural Gas: U.S. officials woo Turkmenistan’s president

ALMATY, Kazakhstan: American officials, striving to weaken the grip of Gazprom, Russia’s state-owned energy monopoly, in energy-rich Central Asia, are forcefully wooing the president of Turkmenistan on his first visit to the United States. The president, Gurbanguly Berdymukhammedov, in the first trip by a Turkmen leader to the United States since 1998, went to New […]

It’s Not ‘Star Wars’

Energy’s Future: Robert Hefner says natural gas offers a bridge to a squeaky-clean ‘hydrogen economy.’ Before Robert A. Hefner came along, many people assumed natural gas was limited in its quantity and uses. But since its founding in 1959, Hefner’s company GHK alone has discovered more than 3 trillion cubic feet of natural gas around […]

Australia: Coal is carbon is emissions is not good

Australia can lead the way because it is a major coal exporter, writes John Perkins. ASPIRATIONAL goals are not enough. While schemes such as Kyoto might help, they are insufficient to solve the problems posed by global warming. Not all countries are included. China’s projected carbon dioxide emissions to 2050 are five times what Kyoto […]

From Papal Indulgences to Carbon Credits: Is Global Warming a Sin?

In a couple of hundred years, historians will be comparing the frenzies over our supposed human contribution to global warming to the tumults at the latter end of the 10th century as the Christian millennium approached. Then, as now, the doomsters identified human sinfulness as the propulsive factor in the planetToday a world market in

Analysis: Weak dollar central to oil price boom

LONDON (Reuters) – The weak dollar’s leading role in oil’s ascent to record highs is partly due to a tide of financial flows into commodity investments but also reflects a shift in the greenback’s relationship with crude. The dollar has traditionally influenced the price of oil and other commodities, including gold and base metals, which […]

Inspector Finds Broad Failures in Oil Program

WASHINGTON, Sept. 25 The report stopped short of accusing top agency officials of wrongdoing, concluding that the whistle-blowers were sometimes unaware of other efforts under way to recover the missing money and that they sometimes simply disagreed with top management. But it offered a sharp description of failures at the Minerals Management Service, the agency […]

Russian gas: Will there be enough investment?

Approximately $18 billion per year of investment will be needed to ensure that sufficient gas is produced between now and 2030, the majority of which is needed in production assets. In the following piece we outline some of the major challenges facing the gas sector in Russia and focus on where some of the potential […]

The Cork Consensus

ASPO Europe peak oil conference confirms a peak in global oil production by 2012. A conference held in Cork, Ireland by the Association for the Study of Peak oil and Gas (ASPO) last week heard representatives from industry forecast that the best data available data pointed to reserves of 250 billion barrels of yet-to-find global […]

Saudi Arabia rules out revaluation of currency

Saudi Arabia on Wednesday ruled out revaluing its dollar-pegged riyal saying currency stability was important for investors in the world’s largest oil exporter, and would be concerned if the dollar fell ’substantially.’ Asked if he was concerned about the decline in the US dollar, Saudi Central Bank Governor Hamad Saud al-Sayyari told Reuters in Riyadh: […]

Big Oil`s Project Costs No Longer Sticker Shock for Wall St

In 2005, Royal Dutch Shell PLC (RDSA) disclosed a cost overrun of roughly $10 billion at its giant Sakhalin 2 project in Russia, a disclosure that shocked the market and embarrassed the oil giant. Last week, after much delay and hand-wringing over swelling costs, Shell and partner Saudi Aramco green-lighted a $7 billion project to […]

Market Eyeing What OPEC Does, Doesn`t Pump

…Ministers didn`t overtly play up the method for arriving at the new production ceiling. As with the output cuts agreed last October and December, intended to take 1.7 million barrels a day from the market, OPEC pegged the baseline for the cuts to market reckoning of the group`s output, not outdated formal output quotas. But […]

Cost, abuse and danger of the dollar

Those who use dollars outside the US continuously pay a contribution to the US. It comes in the form of an inflation of 1.25 million dollars per minute. This is the result of the fast increase of the US foreign debt. Half of all US Meanwhile, well camouflaged, the dollar is at the center of […]

‘Tips’ for employees spark ire in automobile industry

Employee newsletters usually aren In a time when $3-plus gas prices are looking more and more inevitable in the summer, and when some are pointing to vehicle emissions as potential contributors to climate change, it seems like a sensible, helpful subject to cover. But when HHS put forth some recommendations of specific car models, it […]

Albania’s dilemma: produce energy or protect the environment?

Albania’s Sali Berisha says thermal power plants are the best way to meet the country’s energy needs. But plans to build such a facility at a top tourist destination have local residents crying foul. Over the last decade, life in Albania has become seriously affected by energy shortages. This summer, the public faced up to […]

ASPO 6. In Praise of

Ray Leonard of the Kuwait Energy Company was the speaker who, for me, stole the show. He offered, prefaced with a few caveats, insights from within the oil industry, setting out how what the oil industry tells the public and what it actually thinks are very different. One got a sense from listening to Leonard […]

The Oil Drum: …To Grandmother’s House We Go: Peak Oil Is Here

I have intentionally paraphrased this wonderful Christmas song because it has much to say about the future after peak oil which I am now ready to say has already happened. As energy declines, we will indeed go to our grandmother’s house–one without electricity and running water, sewer or septic and deep, mechanically pumped water wells. […]

Oil and Gas Dynamics in the Gulf of Thailand

A recent report from the International Monetary Fund (I.M.F.) has stated that in a moderate scenario oil revenue income for Cambodia would start at US$174 million by 2011 and peak at $1.7 billion per year by 2021. The I.M.F. predictions do not include the potentially larger basin that is currently in a disputed Overlapping Claims […]

Are we heading for Peak Food?

As a loyal Whiskey & Gunpowder reader and personal friend of Byron King, I must say that not only do I subscribe to the Peak Oil theory, I am experiencing it first hand. As I write this, I am only a few short minutes from the border of Russia at my home in Estonia. Yes, […]

Nuclear, Biofuel, Oil Sands Needed to Cut Emissions, Shell Says

(Bloomberg) — Governments must allow energy companies to produce fuels from all sources as lawmakers find the best solution to curb emissions blamed for climate change, a Royal Dutch Shell Plc executive said. Wind farms are expensive, nuclear stations have difficulty dealing with waste, biofuels boost food prices and oil sands produce even higher emissions […]

Rebels threaten Canadian oil firm in northeast India

A separatist group in India’s restive northeast warned Canadian and Indian oil firms against carrying out exploration work in the region. The National Socialist Council of Nagaland (NSCN-S.S. Khaplang faction), which is fighting for an independent tribal homeland for Nagas, threatened Canoro Resources Ltd and India’s Oil and Natural Gas Corporation (ONGC) with unspecified “action” […]

Uganda, Congo boats clash on oil-rich lake

The Ugandan army exchanged fire with a Congolese boat on oil-rich Lake Albert and several people were killed and wounded in the clash, officials said Tuesday. Accounts of Monday’s incident differed, with the U.N. saying six died and the Ugandan army putting the toll at one dead. The lake has long been a source of […]

Calls grow for EU biofuel rethink

The influential European Economic and Social Committee (EESC) is this week expected to call on the European Commission to reassess its target for ensuring 10 percent of road fuels come from biofuels by 2020.The EESC has also signalled it will side with environmental groups in taking a “very critical stance” of the Commission’s recent biofuel […]

Lula’s push for biofuel criticised

Environmentalists and farmers have criticised Luiz Inacio Lula da Silva, the Brazilian president, for promoting the use of biofuels as the answer to global warming. Speaking at the UN General Assembly in New York, Lula said on Tuesday that “biofuels will save the environment”.But neighbouring countries have openly criticised Brazil and the US for promoting […]

Less driving, less gas, less tax

With prices at the pump prompting Ohioans to drive less or buy fuel-efficient cars, the state is collecting less gasoline tax. The result: less money to fix roads and untangle messes such as the I-70/71 merge Downtown. The state Department of Transportation says it faces an estimated $1.5 billion deficit by 2013, and that’s part […]

Australia: Scientist casts doubt over ‘clean’ coal

A leading scientist fears the federal government’s clean energy target will be dominated by unproven clean coal technology. Australian Academy of Science president Kurt Lambeck said the technology is 20 years away, and even then, would have limitations in curbing carbon emissions.Prime Minister John Howard on Sunday unveiled a clean energy target of about 15 […]

Kenya: State Should Tame Rogue Oil Dealers

It is likely that recent increases in international oil prices are steadily slowing down Kenya’s recent economic gains. Even as the Government dilly-dallies on making policy announcements to militate against the fuel price surge, Kenyans should start to brace themselves for a general increase in prices of goods and services.The economy will be under pressure […]

Saudi budget surplus hits record on surging oil prices

Oil powerhouse Saudi Arabia announced on Wednesday a record budget surplus of more than 77 billion dollars for 2006 thanks to surging crude prices. The surplus of 290 billion riyals (77.5 billion dollars), unveiled in the central bank’s annual report, compares with initial forecasts of a 14.7 billion dollar surplus and a final figure of […]

What’s behind Myanmar’s painful oil and gas price rise?

– Compared to manufacturing and service sectors, which are hampered by inadequate infrastructure and corruption, industries such as oil, gas and mining are the most productive sectors in the country of 53 million people. – However, Myanmar has to import nearly all of its diesel because its domestic refining sector has been crippled by 50 […]

India: Produce or perish, Oil Ministry tells ONGC

Oil and Natural Gas Corp, nation’s largest oil and gas producer, will become a marginal player if it did not set right its priorities and produce more hydrocarbons, Oil Ministry has warned the state-run firm. In a stinker of a message at the firm’s Strategy Meet at Agra on August 25-26, Petroleum Secretary MS Srinivasan […]

Smaller Oil Companies Fuel UK’s North Sea Revival

Tax changes and investment incentives are transforming the landscape of Britain’s North Sea — reinvigorating Europe’s second-largest oil basin after Norway and raising hopes that its long decline may slow. The revival has taken many in the industry by surprise, because when the government in 2005 announced it would raise taxes on oil production, big […]

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