Economic Report of the President mentions Peak Oil

…In 2008, the nominal price for crude oil reached its highest level ever. This increase was due to several economic, geopolitical, and environmental factors such as growing world demand, limited supply growth, smaller inventories, security concerns in oil producing countries, and a decline in the value of the U.S. dollar. Some fear that high oil […]

Oil Supply Up, Price Down Through 2009

SAN FRANCISCO (MarketWatch) — The world oil market is poised to ease over the next two years with production increases offsetting moderate growth in oil demand, the U.S. Energy Information Administration said Tuesday. Oil prices, however, will remain higher than last year’s. The barrel, which averaged $72 in 2007, is expected to average about $86 […]

Saudi chief: Top oil field not in decline

HOUSTON, Feb. 12 (UPI) — The head of Saudi Arabia’s national oil company is playing down rumors the world’s largest oil field, Ghawar, is declining production. “The interesting thing is that over the last 10 years Ghawar has consistently been producing between 5 and 6 million barrels (per day),” Saudi Aramco President and Chief Executive […]

Venezuela’s state oil company halts oil sales to Exxon Mobil

CARACAS, Venezuela (AP) – Venezuela’s state oil company said Tuesday that it has stopped selling crude to Exxon Mobil Corp. and has suspended commercial relations with the U.S.-based oil company. State-run Petroleos de Venezuela SA, or PDVSA, said in a statement that it ”has paralyzed sales of crude to Exxon Mobil.” It said the decision […]

Some Q&A about that $100,000 CERA bet

Some readers have been asking questions about the bet. Here, quickly, is a little more flesh for the bones of the CERA challenge. Why the bet? Back in this publication

Nigeria: Oil-Export Reliability At Risk

Experts in the oil industry have warned that Nigeria stands the risk of losing its credibility as a reliable supplier of crude oil on the world market. According to them, exports that have been held back because of rebel attacks would seriously affect Nigeria’s credibility in the oil industry. The Wall Street Journal reports that, […]

World’s refineries need flexibility, report says

Greater variety of raw materials likely to be in mix The world’s refineries must adapt to a plethora of raw materials to avoid shortfalls in meeting global demand for diesel and jet fuel, a leading energy consulting firm is reporting today. Cambridge Energy Research Associates says its analysis of global refining capacity shows that increased […]

EIA: OPEC 1Q Output 32.2 Million B/D, +600,000 B/D Vs 4Q ‘07

NEW YORK -(Dow Jones)- Crude oil output from the Organization of Petroleum Exporting Countries is expected to average 32.24 million barrels a day in the current quarter and stay near that level throughout 2008, according to the latest U.S. government forecast. In its latest Short-Term Energy Outlook released Tuesday, the Energy Information Administration said the […]

Iraq says ready to review old Russian oil deals

MOSCOW, Feb 12 (Reuters) – Iraq is ready to study the possibility of reviving old deals, including in the oil sector, which were signed between Russian firms and the government of Saddam Hussein, a top official said on Tuesday. “We are not hiding from existing problems, such as the old contracts,” Iraqi Foreign Minister Hoshiyar […]

Other oil nations could make up for Venezuela halt – U.S.

HOUSTON (Reuters) – Top world oil producers have assured the United States they could make up for a major supply disruption amid threats from Venezuela of a halt, a U.S. government official told Reuters Tuesday. “Other major oil producers have assured they can compensate for significant disruptions of any nature,” said the official, who declined […]

Eugene, Oregon, Earns Global Recognition for Its Transportation Efforts

In 1990, Eugene city officials began to seek ways to provide an effective alternative to traffic congestion. The Lane Transit District conducted open community workshops, reached out to resident businesses, and worked with the city council to materialize this vision. Drawing inspiration from the BRT system of Curitiba, Brazil, the district launched a full-featured service […]

Researchers Develop Integrated Energy-Water Model For Planning / Management

Water and energy are inextricably linked. It takes large volumes of water to produce energy and significant amounts of low-cost energy to treat and distribute water. But the planning and management of these fundamental resources have historically been done independently of one another. A Sandia National Laboratories research team is attempting to remedy the situation […]

Venezuela oil giant tries end run

CARACAS, VENEZUELA — Venezuela’s state oil company reportedly moved to protect its assets from Exxon Mobil Corp.’s legal reach Monday as experts speculated that the South American energy giant may be suffering a severe cash shortage. Petroleos de Venezuela, or PDVSA, instructed its traders to deposit oil receipts with UBS bank in Switzerland, the Reuters […]

Deciding Maine’s energy fate

…To avoid continued wandering in the energy wilderness, the first thing we should do is become better informed. Did you know, for example, that more than 80 percent of Maine homes are heated with fuel oil, while nationwide, fewer than 8 percent of homes have oil heat? And that worldwide, the basic oil product that […]

Liquid coal touted as good fuel bet if ethanol fails

HOUSTON (Reuters) – Refining coal into liquids is the next logical step should it become clear that corn-based ethanol is not the solution to the transportation fuel problem, the developer of a coal-to-liquids plant said on Tuesday. “Does it make sense to burn your food supply … to make what is in our estimation an […]

Shell rationing gasoline, diesel in Western Canada

CALGARY, Alberta, Feb 12 (Reuters) – Royal Dutch Shell Plc’s refinery in Alberta is running at reduced rates, forcing the company to ration fuel to its own Western Canadian retail network and to commercial customers, a spokeswoman said on Tuesday. There is no indication yet when the 98,000 barrel a day Scotford refinery near Edmonton […]

Argentina Agrees to Lift Export Ban on Shell After Price Accord

(Bloomberg) — Argentina’s government lifted a ban on exports from a refinery owned by Royal Dutch Shell Plc after the company agreed to observe price caps. Shell agreed to lower prices at the pump to Oct. 1, 2007, levels, said a government official who declined to be identified because of department policy. The accord follows […]

Russia, Ukraine Reach Last-Minute Deal, Avert Gas Cut

Feb. 12 (Bloomberg) — Ukraine averted a cut in supplies of natural gas from Russia’s OAO Gazprom after the two countries’ presidents reached an agreement before a deadline passed. Ukraine will start paying the debt for 2007 gas deliveries on Feb. 14, Ukrainian President Viktor Yushchenko said at a Kremlin press conference broadcast by Russian […]

Venezuela threatens to halt U.S. oil deliveries

CARACAS … It remained vaguely defined what actions would lead to such a decision, which many analysts call unlikely. But Ramirez said, “if they want this conflict to escalate, it’s going to escalate. We have a way to make this conflict escalate.” AP

Shell VP, Exploration: ‘No More Easy Oil’

Shell Europe’s vice president of exploration, Tom Botts, will review some hard truths at Subsea 08 when he gives his keynote address to 200 representatives from the global subsea sector. …”There is no more easy oil,” Botts will warn, “and the subsea industry is critical to unlocking more oil to meet world supply.” He will […]

Refinery pollution may soar

Global-warming pollution from Midwest oil refineries is expected to soar by as much as 40 percent during the next decade, a dramatic increase that runs counter to regional and national efforts to curb heat-trapping gases. Expansion plans at the BP refinery in Whiting would boost the facility’s greenhouse-gas emissions to 5.8 million tons a year, […]

King penguins could be wiped out by climate change: study

PARIS (AFP) – One of the emblems of the Antarctic, the king penguin, could be driven to extinction by climate change, a French study published on Monday warned. In a long-term investigation on the penguins’ main breeding grounds, investigators found that a tiny warming of the Southern Ocean by the El Nino effect caused a […]

Peak Oil: Simmons v. Saudis, Round Two

Both Nansen Saleri, former chief of reservoir management at Saudi Aramco, and Houston-based investment banker Matthew Simmons are feeling good these days about the famous Simmons, in his book

Venezuela wants to avoid U.S. oil cutoff

CARACAS (Reuters) – Venezuela wants to avoid cutting off oil supplies to the United States because it would be costly to the OPEC nation, a senior Venezuelan oil official said Tuesday. He spoke a day after world oil prices rose following a threat from President Hugo Chavez to stop sending oil to the United States […]

Monbiot: Apart from used chip fat, there is no such thing as sustainable biofuel

Even capitalists now admit the oil crisis is real. But their solutions border on lunacy as they avoid the obvious answer Now they might start sitting up. They wouldn’t listen to the environmentalists or even the geologists. Can governments ignore the capitalists? A report published last week by Citibank, and so far unremarked on by […]

Airlines Look For Savings As Fuel Costs Rise

The need for US airlines to control costs is greater than ever with losses creeping back onto balance sheets and shares slipping, but carriers are simply running out of fat to trim after years of restructuring. The main culprit undercutting profits is high fuel prices. But overall US economic weakness is threatening to erode travel […]

UK: Food and petrol push up inflation

UK inflation picked up in January, driven by rises in food and petrol prices, official figures have shown. Last month’s Consumer Prices Index (CPI) figure – the government’s preferred measurement – rose to 2.2%, up from 2.1% in December. The rate was the highest since June 2007 and the CPI measure remains above the government’s […]

Sea Level Rise Could Be Twice As High As Current Projections

A comprehensive new study authored by University at Buffalo scientists and their colleagues for the first time documents in detail the dynamics of parts of Greenland’s ice sheet, important data that have long been missing from the ice sheet models on which projections about sea level rise and global warming are based.The implications of these […]

Insect explosion ‘a threat to food crops’

Food crops could be ravaged this century by an explosion in the numbers of insect pests caused by rising global temperatures, according to scientists who have carried out an exhaustive survey of plant damage when the earth last experienced major climate change. Researchers found that the numbers of leaf-eating insects are likely to surge as […]

Solar Power Boom Faces First Test

The solar power industry uses the same silicon raw material as the semiconductor industry and may share a similar boom-bust path, according to some analysts. The semiconductor industry collapsed in 2000 amid a dotcom bust which pulled demand for electronic chips.Solar companies saw their share prices skyrocket last year but many endured a steep fall […]

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