Where the wild things are

…For the past four years, Grubb has been acquainting himself with the medicinal and nutritional qualities of these plants that thrive on neglect, often in poor soils, on marginal land. He is an urban forager: a student of nourishing foods that can be gathered for free in the city. On this glorious morning the weedscape […]

Gazprom plans underground storage near Berlin

Berlin – Russian gas monopoly Gazprom said Tuesday it had bought mining rights north of Berlin that would allow it to build Europe’s biggest natural-gas storage site. The controversial North European Gas Pipeline (NEGP), to be built under the Baltic Sea, will supply the gas from Russian gasfields. It will be injected under pressure into […]

Some OPEC Members Seek Non-Dollar Payment For Oil

CARACAS (Dow Jones)–Venezuela will continue to push a proposal within the OPEC to find a new reference measure for crude prices and to eventually demand payment for crude in some other currency than the dollar, the country’s oil minister said Tuesday. “We’re working on a scheme to, first of all get paid in an alternate […]

India’s refining hub to be largest in world

Reliance Industries and Essar Oil, India’s largest private sector oil refiners, are set to create the world’s biggest petroleum refining hub as part of plans to expand their plants in Jamnagar, western India. Essar has announced a $6bn expansion plan to more than triple capacity at its refinery, while Reliance, at its site a few […]

New Australian leader prepares to ratify Kyoto

SYDNEY (AFP) – Australian prime minister-elect Kevin Rudd said Tuesday he was working on fulfilling his campaign pledge to ratify the Kyoto Protocol on climate change, but a law expert said he could face problems. “There are a range of ways in which the ratification process can be transacted and I’m seeking further advice on […]

No need for now for December OPEC output boost: Qatar

RIYADH (Reuters) – There is no need for OPEC to boost oil output when the producer group next meets on December 5, Qatar’s Oil Minister Abdullah al-Attiyah said on Tuesday. “My personal belief is that for the moment there is no need to increase production,” he said. Shifting oil pricing away from the dollar to […]

Citi Sells Stake to Abu Dhabi Fund

NEW YORK — Citigroup said late Monday that the Abu Dhabi Investment Authority will invest $7.5 billion in the nation’s largest bank, offering needed capital to offset big losses from mortgages and other investments. The cash from the sovereign investment fund of the Gulf Arab state, which has been a beneficiary of this year’s surge […]

Oil makes the politics go round

IraqSinan Salaheddin writing for the AP has more at the end of an article about Iraqi Shiite discord over the proposed deBaathification law. There

Rich and poor gird for climate change

People around the world are preparing for floods, droughts and other natural disasters in ways largely dictated by wealth and poverty as evidence of climate change mounts, a United Nations report said on Tuesday. Even if countries immediately took steps to cut greenhouse gases, global temperatures would continue to rise until 2050 due to accumulated […]

Oil Prices Extend Losses in Asia Trading

SINGAPORE (AP) — Oil prices fell further Tuesday on growing expectations that OPEC ministers will agree to raise crude production during a meeting next week. The sharp sell-off on Wall Street overnight also contributed to the decline in oil futures. Crude’s ascendancy has been stymied in recent weeks in part by conflicting signals from members […]

As the Price of Oil Soars, Many Turn to Renewables

Thomas M. Rainwater spent 25 years in what people today call the traditional, old-fashioned energy business. An engineer by training, he worked at nuclear and coal-fired power stations, was a marketing executive for a natural gas producer and pipeline, and finally a top strategist for a Canadian power-generation company with a market capitalization of $5.5 […]

Protesters take over oil field in Ecuador jungle, production drops 5,000 barrels

QUITO, Ecuador (AP) Villagers took over an oil field run by state oil company Petroecuador to demand jobs, electricity and paved roads, the company reported. Daily production at the Auca Sur field in Ecuador’s eastern jungle dropped by some 5,000 barrels to about 171,000 barrels as a result of Monday’s protest, Petroecuador said in a […]

Oil Tankers Owe Strength to OPEC

Increased oil production has sent spot charter rates surging on oil tankers in the last week, helping to keep the stocks of crude oil tankers and operators above water. …Notka said the spot rates on the Very Large Crude Carriers, or VLCC The strength in the oil tanker market has spread to West Africa and […]

Shell halts oil sands mining to fix upgrader

CALGARY, Alberta, Nov 26 (Reuters) – Royal Dutch Shell said on Monday it has suspended bitumen production at its oil sands mine near Fort McMurray, Alberta, as it works to repair a fire-damaged upgrader that converts the tar-like bitumen into synthetic crude oil. Shell will advance the timetable of maintenance work at the Muskeg River […]

Small producers don

CASPER — Call it evolution, or being a victim of your own success. Either way, Wyoming is steadily losing its small mom-and-pop oil and gas producers to big corporations whose headquarters and shareholders are far outside the state It

A dogma that has had its day

Last week, Gordon Brown went a striking shade of bright green, talking about the need to cut our carbon dioxide emissions by up to 80%. This week, we appear to be back to normal, with a speech to the Confederation of British Industry (CBI) that called for the expansion of Heathrow, an overhaul of the […]

The Oil Drum: A Visit to Shell’s Brutus Off-shore Oil/Gas Platform

On November 9 and 10, the American Petroleum Institute (API) invited several bloggers to visit Shell’s facilities in New Orleans, and also its Brutus Tension-leg Platform, 165 miles south of New Orleans, in the Gulf of Mexico. The purpose of this post is to tell you a little about my trip.Much more after the jump […]

West Africa: Energy profile

The Economic Community of West African States (ECOWAS) was formed to promote economic and development growth in West Africa. Major exports from the region include energy products, minerals and agricultural products. Regional leaders created the Economic Community of West African States (ECOWAS) on May 28, 1975 in Lagos, Nigeria. ECOWAS is comprised of 15 countries, […]

Oil prices in fresh assault on $US100

November 27, 2007 07:30am – OIL prices topped $US99 a barrel overnight on worries over tight crude supplies, before sliding on profit-taking amid rumours that OPEC may boost output. New York’s main contract, light sweet crude for January delivery, struck as high as $US99.11, not far off its record high of $US99.29. The contract stood […]

Seven Questions: The Price of Fear

Something funny has happened to the price of oil: It no longer reflects reality. The reason, according to Fadel Gheit, one of Wall Street’s top energy analysts, is that FP: The International Energy Agency is now saying that it

Calculation of global warming limitation due to peak oil, gas & coal

An approximate calculation is done of the carbon-dioxide concentration in the earth’s atmosphere due to burning fossil fuels: coal, crude oil and natural gas. Since these are finite resources and the peak date for crude-oil extraction is about now, the peak date for natural-gas extraction will be about a decade from now and the peak […]

UK 2017: under surveillance

IT is a chilling, dystopian account of what Britain will look like 10 years from now: a world in which Fortress Britain uses fleets of tiny spy-planes to watch its citizens, of Minority Report-style pre-emptive justice, of an underclass trapped in sink-estate ghettos under constant state surveillance, of worker drones forced to take on the […]

Toreador: Black Sea project shut down due to damage

SAN FRANCISCO (Thomson Financial) – Shares of Toreador Resources Corp. fell Monday after the Dallas-based energy company said that, over the weekend, production in the South Akcakoca sub-basin project in the Black Sea was shut down by the Turkish national oil company because of damage to the pipeline spur running to the Akkaya platform. There […]

Cheney: No bailouts, no tax hikes…more oil

Vice President Dick Cheney wields considerable power on economic policy. In a Fortune exclusive, the free-market fan weighs in on the credit crisis and his biggest fear. WASHINGTON (Fortune) — President Bush’s economic legacy is emerging as a central debate point in the 2008 presidential campaign. But it’s important to remember that this is also […]

Kunstler: Either / Or?

The great debate among those of us on the Economy Deathwatch seems to be whether the debacle we observe around us will resolve as a crash or a slow-motion financial train wreck. It seems to me that at every layer of the system, we’re susceptible to both — in tradable paper, institutional legitimacy, individual solvency, […]

Gas prices to grow in 2008

MOSCOW. (Igor Tomberg for RIA Novosti) – Turkmenistan announced on Friday that it would raise the gas price for Gazprom by 30%. The Russian energy giant actually sighed with relief, as it had long expected Ashgabat to raise the prices, and $130 per 1,000 cubic meters is a moderate price for today, considerably lower than […]

Norway sees no respite to high oil prices

OSLO She said non-OPEC Norway, the world’s fifth-largest oil exporter with about 2.4 million barrels per day, had little ability to increase production in the short-term.

Nuclear industry may be running out of steam

Rumours of a nuclear power renaissance have been greatly exaggerated. So says an audit of the nuclear power industry released on Wednesday. The report, commissioned by The Greens, a European parliamentary group, points out that many ageing reactors are due to close before 2030, and that 338 new ones would have to be built just […]

Peak banana

Back when economist Alfred Kahn worked for the Carter administration he suggested that the high inflation of that period could end in a recession or even a depression. The administration moved immediately to distance itself from Kahn’s words and admonished him for his bluntness. He promised he would not use the words in public again. […]

Lundin North Sea Oil Platform Remains Shut After Fire

Nov. 26 (Bloomberg) — Lundin Petroleum AB, a Swedish oil company, said the 5,000-barrel-a-day Thistle Alpha oil platform in the North Sea remains shut after a fire broke out in a turbine yesterday. Lundin is looking into the cause of the fire and cannot say when the production of oil, used in the Brent blend, […]

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