Strategic Implications of the Surge in Oil Prices

Assuming that oil prices remain at their current high levels, there are several possible ramifications: The enrichment of the oil-producing states and the growing dependence on Arab oil will strengthen those states politically, particularly in the eyes of oil importers, including those in Asia whose role in global affairs is growing. Moreover, some companies may […]

Egypt announces nuclear plant projects

Egyptian President Hosni Mubarak on Monday announced plans to build several nuclear power plants, joining several Arab countries in the Middle East that recently have broadcast their own atomic energy ambitions. Mubarak said in a speech broadcast live on national television that the decision to build these nuclear power stations was to diversify Egypt’s energy […]

No Blood for No Oil

None of the mainstream press coverage of record-high crude oil prices that I saw last week turned $92.22-a-barrel into a teachable moment. The best I came across was a pair of experts on PBS’ News Hour explaining, like a Certs ad, that It’s Two! Two! Two Crises in One! — political (Bush’s World War III […]

Singapore To Build World’s Largest Solar Energy Plant

The world’s largest manufacturing plant for making solar energy products will be built in Singapore, it will be the first such plant in Southeast Asia. The plant is expected to start production of wafers, cells and modules used to generate solar power by 2010. It will be built by leading Norwegian solar energy firm Renewable […]

Thai villagers prefer energy-efficient policies

Hilltribe villagers who will be adversely affected by the planned construction of a series of dams on the Salween river have called on the government to scrap the projects and adopt their energy-efficient practices in developing a national energy policy. Many hilltribe villages in this northern border province now enjoy similar luxuries to urban communities. […]

Middle East can leave oily old cycle in the past

A new power is taking its place in the world economy. After the disruptive emergence of China and India as key players with a decisive role in shaping global economic events, the Middle East is joining the race to challenge the dominance of the industrial West. The region has long held sway over world economic […]

Avoided deforestation beats timber, palm oil, in tax revenue for Indonesia

Indonesia could more than double its tax revenue by protecting forests and selling the resulting carbon emission credits instead of timber and palm oil, a University of Michigan researcher told Bloomberg. Gabriel Thoumi, a consultant and fellow at the Erb Institute for Global Sustainable Enterprise at the University of Michigan in Ann Arbor, estimates that […]

Rising Oil Prices Slowing Korea’s Economic Growth

There is a growing concern that record high oil prices and the 10-year high of local currency against the dollar will have a negative impact on the Korean economy. In particular, many economic experts say the recent trend of oil price hike and the won-dollar exchange rate will continue into next year, and the government […]

China: Old oil in marine facies provide energy

Geologic formations known as marine facies contain not only the fossils of mollusks and fish locked deep within, but often oil and gas as well, potentially in enormous amounts. Formed in primeval oceans, ancient marine basins could yield major oil and gas reserves for Asia’s top refiner Sinopec and the entire nation, say senior geologists […]

Could Crude Oil $100 Cause the Next Credit Crunch?

The Financial Sector is still coming to terms with the US Subprime Mortgages induced credit crunch, could again be in the line of fire of a new credit crunch caused by crude oil surging to $100, triggering a similar collapse of hedge funds and put the banking sector under renewed pressure as the crude oil […]

Phillippines: 170 scientists urge halt to oil exploration

Marine scientists from all over the Philippines have called on the government to stop the oil exploration initiated by the Department of Energy in Tanon Strait because of threats it poses on whales, dolphins, fish and other marine creatures, people’s livelihood, and potentially irreplaceable and invaluable natural heritage. The scientists made the call at the […]

Crude oil price likely to hit peak

Crude oil prices appear increasingly likely to hit the record in real terms record, reached during the second oil crisis in 1979, as nominal prices on Monday continued rising well above $90 a barrel. West Texas Intermediate crude hit a fresh nominal all-time high of $93.20 a barrel on a combination of renewed geopolitical tension […]

New Zealand’s oil rush

Sleepy Thule Bay is as serene as it is picturesque. Thickets of native bush snuggle against each other right to the water’s edge in this quiet Stewart Island inlet. There’s electricity, a smattering of houses and several yachts moored off the small beach, but Thule Bay is as far from the capitals of commerce and […]

A royal guest to be proud of?

This week, Gordon Brown and David Cameron will welcome the leader of one of the world’s most vicious dictatorships to Britain. Both men will embrace King Abdullah al-Saud, who heads a regime in which, according to Amnesty International, “Fear and secrecy permeate every aspect of life. Every day the most fundamental human rights of people […]

Mexico shutting 600,000 bpd oil output due cold front

MEXICO CITY (Reuters) – Mexico’s state-owned oil company Pemex was shutting down about one-fifth of its daily output on Sunday due to bad weather, but said it expects to quickly resume output within days. U.S. crude oil futures jumped as much as 1 percent to a record high $92.79 a barrel on news of the […]

For oil producers, energy security rises up the political agenda

Energy security, traditionally a high priority for consumer countries that depend on imported oil and natural gas, is now topping the military and foreign policy agenda for producing countries, as they seek to reinforce their credibility in the eyes of volatile global oil markets. Flush with petrodollars from rising oil prices since 2003, producer governments […]

Iran Adapts to Economic Pressure

Oil Market Could Help It Weather U.S. Sanctions Confronted by mounting U.S. and U.N. pressure, Iran has been steadily shifting its trade from West to East and, with the benefit of record high oil prices, is likely to be able to withstand the new U.S. sanctions, according to U.S., European and Iranian analysts. China, a […]

Crude Oil Rises to Record on Turkey-Iraq Tensions, Nigeria

Oct. 29 (Bloomberg) — Crude oil rose to a record above $92.50 a barrel in New York after Turkey’s Foreign Minister said his government is considering “all options” including military action to deal with Kurdish rebels operating from Iraq. “Our patience has come to an end,” Ali Babacan said yesterday in Tehran following talks with […]

Designer pays for land rights on own ranch to stop drilling for oil

Environmentalists in the US have a habit of mounting loud, vigorous but ultimately futile campaigns against thirsty oil companies looking for land to exploit. So the US fashion designer Tom Ford is taking no chances. Ford, who established his reputation with Gucci and Yves Saint-Laurent before setting up his own label, has bought the mineral […]

Russia: Competition Body Urges More Coordination Among Refiners

The Federal Anti-Monopoly Service wants oil firms to disclose and coordinate maintenance work at refineries to avoid a repetition of sharp gasoline and diesel price spikes, an agency official said. Alexander Pirozhenko, head of the service’s energy section, said the measure would be the first in a series of actions by his office to guarantee […]

Shell Shuts Hydrotreater Unit at Deer Park, Texas, Refinery

Oct. 28 (Bloomberg) — Royal Dutch Shell Plc, Europe’s largest oil company, shut a catalytic cracker feed hydrotreater unit at its refining complex in Deer Park, Texas. The company shut the unit yesterday after a feed line leaked and started a “small” fire, according to a report with the Texas Commission on Environmental Quality. The […]

Qatari Oil Minister Says OPEC Can’t Curb Price of Crude Oil

Oct. 28 (Bloomberg) — Qatari Oil Minister Abdullah bin Hamad al-Attiyah said the Organization of Petroleum Exporting Countries “can’t do anything” to quell rising oil prices, which breached $92 for the first time in New York last week. “ The market is under psychological pressure, not demand pressure,” al-Attiyah said in an interview today in […]

Putin Snipes at EU on Access to Assets

President Vladimir Putin scrapped with European Union leaders Friday over Brussels’ plans to limit foreign investment in energy markets at a summit that achieved little on key sticking points. Putin, in his final EU-Russia summit as president, took a swipe at proposals from Brussels that could prevent gas monopoly Gazprom from buying up power grids […]

Israel slashes Gaza fuel supply

JERUSALEM (CNN) — Israel reduced the flow of fuel to Hamas-controlled Gaza on Sunday, a move it vowed to take in response to “the incessant firing of rockets into Israel,” an adviser to Prime Minister Ehud Olmert said. Ten Israeli and Palestinian human rights groups are petitioning Israel’s Supreme Court to stop the reduction. The […]

Alberta raises oil company royalties

The government of Alberta in Canada may have just done the impossible While many other oil-rich nations are provoking the ire of international oil companies with unreasonable demands, the sliding scale determined by the price of oil starting January 2009 seems mild by comparison.

OPEC to study currency basket for pricing:Venezuela

CARACAS (Reuters) – OPEC is likely to discuss creating a basket of currencies for oil pricing at its next summit due to the steady decline in the dollar, Venezuela’s Energy Minister Rafael Ramirez said on Friday. “The need to establish a basket of currencies … will probably be a point of discussion in the next […]

Peak Moment: City Repair – Permaculture for Urban Spaces

What happens when citizens apply permaculture principles to a city grid? They create friendly places within the grid that invite people to come together. Mark Lakeman, co-founder of Portland, Oregon’s City Repair Project describes these “creative intervention” projects as placemaking at its best. People learn to work together, build trust and have fun. The results, […]

Credibility gap

From polar bears to public health, government scientists’ views keep running into political Wite-Out at the White House. The latest example in a stunning array of them came last week when the Associated Press reported that the White House made significant edits in testimony about the impact of climate change on public health. Deleted sections, […]

Warming Revives Flora and Fauna in Greenland

NARSARSUAQ, Greenland

Australia: The Place To Be (Part 1)

I am an analyst by training, profession and inclination. So when my son was born, 24 months ago, I decided to do a quick risk assessment. What would the future hold for him here in Australia? The answer was not quite as cheery as I had assumed. TOD:ANZ

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