Big consumers share concern over oil price

DAVOS, Switzerland (Reuters) – A meeting of major oil consumers including the United States, Japan and Britain shared concern about high prices and the threat they pose to economic growth, officials said on Friday. The price of crude oil, which hit a record high of $100 a barrel earlier this year and is now trading […]

Mexican Oil Fights Theft

Mexico, Jan 23 (Prensa Latina) Petroleos Mexicanos (PEMEX) physical security officers detected several clandestine tubes in Salamanca-Guadalajara poliduct Wednesday. A PEMEX bulletin delivered to the press stated the criminals possibly noticed the presence of PEMEX personnel and were interrupted from final installation of the illegal tube. During 2007 the Integral Program to Combat the Illegal […]

China Halts Coal Exports Amid Shortage

SHANGHAI, China – China’s Transport Ministry ordered ports on Friday to temporarily stop loading coal for export as the country struggles to meet domestic needs amid mounting power shortages. The coldest, snowiest winter in decades has left millions of Chinese without heating and running water, causing mounting losses from power shortages and other damage. The […]

The Peak Oil Crisis: The Future of Cars

Since the end of World War II, the private gasoline-powered automobile has become the center of life in America. Our suburbs, commerce, recreation, religion, indeed nearly every imaginable aspect of our lifestyles has been centered around the mobility the ubiquitous, affordable private car has brought us. The lure of the private automobile is not unique […]

Gold soars above US$920 as power crisis closes mines

SINGAPORE — Gold and platinum hit all-time highs on Friday after a power crisis closed South African mines, with dollar weakness, firm oil and expectations of more interest rate cuts in the United States providing additional support. South Africa’s three main gold producers and the world’s biggest platinum miner suspended production at all their mines […]

Shell Seeks Gasoline in Singapore as Sydney Stations Run Short

(Bloomberg) — Royal Dutch Shell Plc sought to buy cargoes of premium gasoline in Singapore after a refinery fault in Australia led to fuel shortages in Sydney. Shell bid to buy 97-RON gasoline at $104.35 a barrel for early February loading from Singapore, $1.95 more than the next highest offer by Vitol Group, said three […]

UK: 20,000 wind turbines – plus a 15% rise in electricity bills

The cost of household electricity bills is expected to rise by up to 15 per cent if Britain is to meet compulsory climate change targets announced yesterday. Under the European Commission The investment required to get Britain

Climate change

Climate change will have a long-term impact on the nation The report said that security services would be challenged increasingly by the number of refugees, and the Government would need to consider stronger border controls. Protests against companies that continued to emit greenhouse gases were possible as climate change intensified and they might even provoke […]

Amazon’s rescue reversed

In a world of climate change and general environmental degradation, it was one ecological disaster that had apparently been averted. After decades of steady obliteration, the tide appeared to have turned against the illegal deforestation that has disfigured the world’s largest tropical rainforest. Brazil’s president, Lula da Silva, went on the radio in August to […]

Is There Life After Oil?

Texas Monthly talks with two online energy experts concerning peak oil and the future of energy demand. Nate Hagens is an editor of The Oil Drum, an online community that seeks to raise awareness about energy issues. A Ph.D. candidate in Natural Resources at the University of Vermont, Hagens One article in this month

An Oil-Powered Russia

An interview with Steve Levine, author of The Oil and The Glory ($28, Random House, 2007). Forbes.com: In the book, you describe how a handful of policy advisers convinced the Clinton administration to put its weight behind a planned oil pipeline stretching more than 1,000 miles from Azerbaijan to the Mediterranean port of Ceyhan in […]

El Paso Tennessee Gas unit declares force majeure

NEW YORK, Jan 24 (Reuters) – El Paso Corp unit Tennessee Gas Pipeline Co declared force majeure due to a “possible leak” on its natural gas pipeline system in offshore Louisiana, the company said Thursday. “Tennessee Gas Pipeline Co is declaring a force majeure … The reason for the event is to repair a possible […]

Venezuela to suffer little from US woes – minister

CARACAS, Jan 24 (Reuters) – Problems in the U.S. economy will not hurt Venezuela in the short-term but could lower prices of the OPEC nation’s vital oil exports, Venezuela’s economy minister Rafael Isea said on Thursday. Isea told reporters that an economic downturn could affect demand for crude oil, but added its effect on Venezuela’s […]

Wal-Mart plans to take leadership role in energy, trade, health costs

KANSAS CITY, Missouri: Wal-Mart Stores Inc., which launched a broad environmental push in late 2005, wants to expand that focus to other issues including energy prices, international trade and U.S. health care costs. Chief Executive Lee Scott outlined plans in a speech Wednesday to push for more energy-saving products for Wal-Mart shoppers, work with other […]

Delays threaten refinery construction programme

A report in Middle East Economic Survey (MEES) newsletter has highlighted the mounting delays in the tendering process for Saudi Aramco’s three joint-venture (JV) refineries, two of which are being developed with France’s Total and ConocoPhillips, respectively. The report, writes Global Insight energy analyst Samuel Ciszuk, has also managed to receive an official answer denying […]

Shell CEO sees no reason for panic over economy

DAVOS (Reuters) – Royal Dutch Shell’s Chief Executive said on Thursday he saw no reason to panic about the world economic outlook, saying energy demand growth this year would be higher than 2007. The comments from the head of the world’s second-largest fully publicly traded oil company by market value are more upbeat than some […]

Peak Oil As Obsessional Neurosis

When writing about peak oil and related matters in the category of doom and gloom, one encounters Nietzsche The value of talking about oil is that it is a fairly tangible issue. Talking about more general matters of systemic collapse, on the other hand, has the tendency to overwhelm the reader

Faraway food production

High energy and land costs raise the stakes for B.C. farmers. …That we But transportation isn

Brazilian Amazon Deforestation Rate Accelerates

The financial bonanza of raising biofuel crops such as soya has caused accelerated the Amazon’s deforestation. From August to December 2007, 1,250 square miles of Brazil’s forestland were lost to biofuel farmers. The news of the accelerated forest depletion rate reverses initial success by the Brazilian government to halt the denudation. According to Gilberto Camara […]

BP: World produces

BP Plc, Europe

OPEC Doesn’t Need to Raise Production, Ministers Say

(Bloomberg) — OPEC doesn’t need to increase oil production when it meets next week because supply is adequate, ministers from Qatar, the United Arab Emirates and Iraq said. “I don’t see the need for more,” Qatar’s Energy Minister Abdullah bin Hamad al-Attiyah said in an interview in Davos, Switzerland, today after meeting with his U.A.E. […]

$100 A Barrel Oil

The price of oil topped $100 on January 2 and again on January 3. During the days since I have received emails and phone calls from regular readers, complimenting me on my correct prediction. As I wrote here more than two months ago, the price of oil would not only cross the $100 price barrier, […]

Signing Your Economic Stimulus Over to the Saudis?

President Bush’s economic stimulus plan would put $800 in the pocket of almost every taxpayer. Given that Congress is pretty much on the same page, why isn’t that prospect buoying everyone’s hopes? Maybe one reason is that Wall Street and consumers alike realize that unless oil prices drop significantly–which may well happen if we fall […]

Climate change ’significantly worse’ than feared: Al Gore

DAVOS, Switzerland (AFP) – Climate change is occurring far faster than even the worst predictions of the UN’s Nobel Prize-winning scientific panel on climate change foresaw, Al Gore warned Thursday. New evidence shows “the climate crisis is significantly worse and unfolding more rapidly than those on the pessimistic side of the IPCC projections had warned […]

Big Brother is Winning: National Oil Companies Overtaking Multinationals

The annual PFC Energy 50 rankings of the world’s largest listed energy companies reinforce the perception that national oil companies from China and Brazil are pushing international oil companies out of the way on issues of access to global resources and future successes. “In spite of their enormous profits, the capital markets are saying the […]

Nepal: Govt withdraws fuel price hike, country limps back to normalcy

KATHMANDU – The government Wednesday afternoon withdrew its Monday A ministerial level meeting was held after Prime Minister Girija Prasad Koirala asked the line ministries to review the decision to hike POL prices, the minister added. The government will think about addressing the losses incurred by the NOC in the coming days, the minister further […]

False hopes and cellulose

Almost a year has passed since President George W. Bush told us that we have a serious problem: Americans are addicted to oil. This astonishing revelation galvanized politicians on both sides of the aisle. It is now de rigeur to decry America’s precarious dependence on foreign oil. Scrambling to find solutions, Congress passed the Energy […]

Heinberg: Peak everything economics, or, what do you call this mess?

It’s becoming increasingly clear that 2008 will be a catastrophic year for the US economy, and therefore probably for that of the world as a whole. The reasons boil down to two: continuing and snowballing fallout from the subprime mortgage fiasco (exacerbated by an orgy of debt-leveraging), and record-high, continuously advancing oil prices. But will […]

Forecasters debate hurricanes, warming

NEW ORLEANS – A lively and sometimes scrappy debate on whether global warming is fueling bigger and nastier hurricanes like Katrina is adding an edge to a gathering of forecasters here. The venue for the 88th annual meeting of the American Meteorological Society could not have been more conducive to the discussion: The Ernest N. […]

The Gospel According to Matthew

For more than twenty years, an extremely successful Houston investment banker has been trying to convince the world that the end (of oil) is nigh. Now that people are finally starting to listen, is it too late? The Coronado Club, in downtown Houston, is an unlikely place to contemplate the end of life as we […]

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