World Food Stocks Dwindling Rapidly, UN Warns

In an “unforeseen and unprecedented” shift, the world food supply is dwindling rapidly and food prices are soaring to historic levels, the top food and agriculture official of the United Nations warned Monday. The changes created “a very serious risk that fewer people will be able to get food,” particularly in the developing world, said […]

India: Oil boil may push up inflation

he wholesale price index (WPI) inflation rate is likely to increase in the coming weeks as prices of edible oils and industrial fuel oil are on the boil. Besides, the high base effect, which has so far been partly responsible for keeping it at moderate level, is fading. The oil refineries have increased the prices […]

Hard-hitting effects of oil prices

Some leading economists have been hinting recently that signs of stagflation are showing up in the USA and the European Union countries. This condition, which is a combination of slow economic growth and high inflation, was last experienced in the late 1970s and early 1980s. In that period, two oil-price shocks put the economies of […]

Food and Fuel Compete for Land

Shopping at a Whole Foods Market in suburban Chicago, Meredith Estes said food prices have jumped so much she has resorted to coupons. Charles T. Rodgers Jr., an Arkansas cattle rancher, said normal feed rations so expensive and scarce he is scrambling for alternatives. In Oregon, Jack Joyce, the owner of Rogue Ales, said the […]

Order DVDs of the 2007 Houston World Oil Conference

DVDs of the ASPO-USA (Association for the Study of Peak Oil – USA) 2007 Houston World Oil Conference can now be ordered. The professionally recorded and edited set of 12 DVDs covers over 20 hours of the conference. All of the main sessions are included along with several of the auxiliary ones including Saturday morning’s […]

Newt Gingrich explains why red staters must turn green

In ‘Contract with the Earth,’ Gingrich argues that conservatives should embrace environmentalism Pulitzer Prize-winning columnist Thomas Friedman says environmentalism today suffers from being seen as “liberal,” “girly,” “unpatriotic,” and even “vaguely French.” That doesn’t sound like the kind of movement that would appeal to any self-respecting political conservative. But now Newt Gingrich, the fierce and […]

Energy bill to save ‘billions’

President Bush has promised to sign into law, perhaps as early as Wednesday, an energy bill that will mandate the first increase in automotive fuel economy standards in 32 years. The wide-ranging energy bill, passed by the House on Tuesday and the Senate last week, also calls for a dramatic increase in ethanol use and […]

Time magazine Person of the Year 2007: A Tsar Is Born

No one is born with a stare like Vladimir Putin’s. The Russian President’s pale blue eyes are so cool, so devoid of emotion that the stare must have begun as an affect, the gesture of someone who understood that power might be achieved by the suppression of ordinary needs, like blinking. The affect is now […]

Energy bill a boon for ethanol, and a challenge

Alternative to corn needed to prevent food price spikes, meet fuel goal WASHINGTON – By mandating a boom in ethanol output from sources other than corn, the energy bill President Bush is expected to sign presents a huge opportunity for the fledgling biofuels market The U.S. currently produces nearly 7 billion gallons of ethanol, all […]

China starts first national oil reserve base

BEIJING, Dec. 19 (Xinhua) — China said Wednesday its first national oil reserve base has been filled with crude oil, one day after it announced the setting up of a national oil reserve center. Located in Zhenhai, Zhejiang Province, east China, the base has a planned storage space of 5.2 million cubic meters, said the […]

Where have all the oil optimists gone

There used to be a group of happy-go-lucky folks who thought the price of oil was always on the verge of collapsing. Steve Forbes seemed to be their chief. He preached that the benefits of exploration would soon kick in, that all the peak oilers were nutty, and that the return of $35 a barrel […]

Marine mammals are petitioners in case vs oil exploration

In what could be a landmark case in the country, resident mammals of the Tanon Strait have been named petitioners in the injunction case filed on Tuesday before the Supreme Court against three Cabinet officials and a foreign oil exploration firm. Among the animal petitioners are toothed whales, dolphins, porpoises and other cetaceans that populate […]

Vested interests, not people, oppose clean energy

Among the myths of the energy debate is that renewable, non-fossil energy costs more and so is unpopular. Policy dinosaurs like the US government then argue that to represent the people’s wishes they have to reject international standards like those in the Kyoto Protocol. This alienates them from other nations as well as from their […]

Part II: The Price of Biofuels

Do we really have any alternative to biofuels?According to a 2005 report by the DOE and the U.S. Department of Agriculture, the country has enough available forest and agricultural land to produce 1.3 billion tons of biomass that could go toward biofuels. Beyond providing a vast supply of cheap feedstock, cellulosic biomass could greatly increase […]

Michael J. Economides – $100 Oil: It

In August 2004 when oil was about $40 per barrel, I predicted outrageously in an op-ed piece that oil would hit Some calming thoughts are in order. The current price spike has nothing to do with any

Michael Lynch: A Hard Rain is Gonna Fall on Oil Prices (Probably)

Since I am renowned (perhaps infamous) as an oil market bear, it is somewhat daunting to write about next year Much of the current market wisdom reflects recent developments

Could OPEC drop dollar for euro?

KUWAIT: Could oil producing countries drop the dollar for a more stable currency? Iran’s recent announcement that it would stop using the dollar in its oil transactions made that question a plausible scenario for other oil producers to follow with a weakening US economy and a declining dollar. The depreciating US currency worries oil exporting […]

$3 gas: America’s braking point

After shrugging off high prices for years, American drivers are finally starting to cut back. Is it a sign of shifting habits, or looming recession? NEW YORK (CNNMoney.com) — Gasoline demand has fallen for the first time in years as drivers appear to recoil from near-record prices, throwing doubt on America’s seemingly insatiable thirst for […]

The limits to reserves growth

Reserves growth in existing oilfields is largely illusory and will not put off the date of peak oil, according to BP But even this illusory growth is unlikely to last, says Gilbert, because less and less of the world

Angola oil exports to fall, output below OPEC target

LONDON, Dec 18 (Reuters) – Angola is set to export 1.80 million barrels per day in February, down 70,000 bpd from the previous month, its second consecutive monthly decline, trade sources said on Tuesday. Fewer loadings of Nemba, Girassol, Dalia, Hungo and Kissanje crudes in February offset a rise in Palanca, traders said. Angola exports […]

Peak Oil and Portfolio Prudence

For most of us, the holidays mean it’s time to shop for gifts. For investors, the end of the year also means it’s time to evaluate how their investments have done and consider changes for the coming year. This includes Peak Oil aware investors who should step back and take a good look at not […]

China’s Southwest Hit by Fuel Crunch

BEIJING (AP) The crunch follows a diesel shortage in China’s export-driven southeast in October and November that disrupted trucking and prompted the government to order suppliers to take emergency measures. Fuel ran short in Yunnan after a pipeline used to deliver gasoline was switched to carrying diesel in response to the shortage, the state Xinhua […]

Study Shows Urban Sprawl Continues To Gobble Up Land

COLUMBUS , Ohio …Irwin said the new reality of sprawl is not conforming to the commonly accepted models of how metropolitan areas develop. The basic theory has been that when pockets of land just beyond the suburbs are developed, the area nearer the central city will be

ASPO-USA: The Time for Energy Action is NOW

…In spite of the progress we Steve Andrews and Randy Udall, the original driving forces of ASPO-USA, have agreed to serve as unpaid Interim Executive Directors, to work with our Energy Action Teams of select staff, board, and advisory board members to move forward with bold new plans to fulfill the ASPO-USA mission. Building on […]

Last Major Field Goes Online: How Long Will Siberia’s Gas Last?

Europe depends on Russia for its natural gas, but, as Gazprom begins production at the last major field, it is unclear how much gas is left in Siberia. Developed fields are almost exhausted, and tapping new reserves involves huge technical difficulties. The Russian gas industry was celebrating on Tuesday. At a ceremony in Moscow, Gazprom […]

Oilwatch Monthly – December 2007

A peak came and passed by For the second consecutive month the International Energy Agency (IEA) has published figures showing a new all time high in world liquids production. As oil production increased from 85 million barrels per day in September to 86.5 million barrels per day in November, some breathing space has been created. […]

Addendum to Connecticut Peak Oil Report to the Governor

This report is an addendum to the It was our conclusion in the report, Peak Oil Production and Natural Gas and Implications to the State of Connecticut that supplies of liquid fuels will continue to contract causing aggressive and harmful price increases to Connecticut

Mexico Senators May Break Pemex Monopoly on Refining, Pipelines

Dec. 18 (Bloomberg) — Mexican President Felipe Calderon’s National Action Party is working on a proposal to end the state’s 69-year monopoly on oil refining and pipelines, freeing cash for Petroleos Mexicanos to invest in production. The plan would allow private companies to operate pipelines and refineries in Mexico, said Sen. Ruben Camarillo, secretary of […]

Illinois wins coal-energy project

Illinois won a prized national competition Tuesday for a cutting edge energy project that researchers hope will prove that abundant coal can be burned for power with virtually no pollution. Mattoon in East Central Illinois was picked as the site for the $1.8 billion FutureGen plant by a consortium of coal companies, utilities and the […]

Oil climbs above $92 on French refinery strike

LONDON, Dec 18 (Reuters) – Oil surged above $92 a barrel on Tuesday, lifted by a strike at five French oil refineries and as Turkish troops crossed into northern Iraq. French oil and gas company Total said workers had begun striking at five of its refineries late on Monday over pay issues and that supply […]

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