Global Warming Melts New Sea Lanes for Norilsk, ConocoPhillips

(Bloomberg) — Norilsk, the world’s biggest producer of nickel, is building its own shipping fleet to capitalize on the melting of the polar ice caps. The company ordered five reinforced cargo vessels that can plow through the waters north of Siberia as new sea routes open. Norilsk is spending at least 320 million euros ($467 […]

Venezuela Official: Will Defeat Exxon In UK Court

Venezuela’s oil vice minister said the country will find a way to defeat ExxonMobil Corp. in a U.K. court in coming days despite the company Venezuela’s Petroleos de Venezuela, or PdVSA, is set to face off with Exxon in a U.K. court this week to resolve a court order that froze $12 billion in PdVSA’s […]

Kunstler: Still Pretending

…I feel sorry for the next president. Even as he takes his oath of office, the nation will be flying apart like a seized-up engine. Since the fiasco in finance is happening in lock-step with Peak Oil (and very likely because of it at a fundamental level) we can expect one of the distortions to […]

Jeremy Leggett: Renewed energy

A recent German experiment shows that renewable energy, harnessed on a national scale, can indeed replace fossil fuels and nuclear power One of the loudest arguments of those who profess that traditional energy is needed even if renewables markets grow large is that modern nations cannot be powered properly without it. In particular, they say, […]

Oil sands freeze a no-brainer for Big Oil

Everybody loves a no-lose proposition. Some people make a career out of searching for them: the investor who pays $10 for stock in a company with $11 per share of cash in the bank; the acquisitive CEO who buys a struggling competitor, strips out the best asset and sells the rest at a profit. No-lose […]

UN climate head: US stand a `nonstarter’

NEW YORK – The U.N. climate chief on Monday welcomed statements by Bush administration officials that the United States would accept a binding international commitment to reduce global-warming gases. But he said their insistence that China and other developing nations do the same “is not realistic.” “If it’s a quid pro quo, then it’s a […]

CHINA: Staring At Grain Imports

BEIJING, Feb 26 (IPS) – With global food prices on an upward spiral, China is facing renewed fears that its growing demand for grain to feed the world With its natural constraints — it has to feed a fifth of the world

Plug-in cars could actually increase air pollution

The expected introduction of plug-in hybrid electric vehicles could cut U.S. gasoline use but could increase deadly air pollution in some areas, two reports say. That’s because a plug-in’s lower tailpipe emissions may be offset by smokestack emissions from the utility generating plants supplying electricity to recharge the big batteries that allow plug-ins to run […]

Doomsday vault tunneled into Arctic mountain

Norway site protects millions of seeds from man-made, natural disasters. LONGYEARBYEN, Norway – A “doomsday” vault built to withstand an earthquake or nuclear strike was ready to open deep in the permafrost of an Arctic mountain, where it will protect millions of seeds from man-made and natural disasters. The Svalbard Global Seed Vault was to […]

Eco-plane ‘a dangerous Branson stunt’

ECO-campaigners have today denounced the world’s first biofuel flight by a commercial aircraft as a “dangerous” Sir Richard Branson publicity stunt. The Virgin Atlantic Boeing 747 flew from London to Amsterdam, with one of the four main tanks carrying 80 per cent standard jet fuel and a 20 per cent mix of coconut and babassu […]

Fresh records for price of wheat

Wheat prices have hit record levels as supplies dwindle, raising concerns about growing food inflation. Chicago Board of Trade (CBOT) wheat for delivery in March rose the maximum 90 cents allowed to $11.99 a bushel in electronic trading in Asia. he United Nations agency blamed rising prices for food and oil, as well as an […]

Twilight In The Desert – The Risk Of Peak Oil

Matt Simmons has posted the slides from his presentation to the Minnesota House of State Representatives. Key

UK: Companies must provide power to change

Britain’s energy companies must transform the way in which they produce, distribute and price power if the public’s efforts to become more energy efficient are to have an impact, the chief executive of the UK’s consumer energy body argues. According to Allan Asher, the chief executive of energywatch:

Fossil fuel costs to grow

THE WORLD still has plenty of oil. What humanity is running out of is cheap oil. That fact There will, however, always be fluctuations. The latest, rapid rise in oil prices, up from less than $90 US a barrel in early February to more than $100 US a barrel last week, is a perfect example. […]

Russia quietly prepares to switch some oil trading from dollars to rubles

MOSCOW: Russia, the world’s second-largest oil-exporting nation after Saudi Arabia, has been quietly preparing to switch trading in Russian Ural Blend oil, the country’s primary export, from the dollar to the ruble. But the change, if it comes, is still some time off, industry analysts and officials said. The Russian effort began modestly this month, […]

Can Turkish economy survive high energy prices?

One of the test beds of peak oil, or supply constraints, is Turkey. The country is not gifted with many hydrocarbon reserves and faces a decline in its oil production. The rising thirst of energy for this developing country relies on exports from close countries. Natural gas, which is not peaking soon, is also a […]

Chinese interest in Arctic riches heating up: Calgary political scientist

CALGARY – There’s a new global player that wants in on the vast oil and gas reserves that the Arctic region is believed to hold – China. Rob Huebert, a political scientist at the University of Calgary, said Monday the energy-hungry Asian giant is looking for transportation and resource extraction opportunities in the North. …Huebert […]

Alaska governor defies oil giants and own party

ANCHORAGE (Reuters) – Alaska’s Sarah Palin has made a habit of taking on big opponents and winning, but the Republican governor is facing her toughest fight yet after locking horns with the state’s powerful oil industry. Palin, 44 has taken direct aim at the traditional comfortable partnership between the the big three oil companies in […]

Dimensions of oil addiction

In a column in the Trib on President Bush The alarming truth is that today

Progress seen in Nigeria’s efforts to collect all oil royalties due

ABUJA, Nigeria: Nigeria has made some headway in getting its fair share of oil revenues from foreign energy companies, but the country, the largest crude producer in Africa, still loses hundreds of millions of dollars each year to theft, according to independent overseers. Nigeria passed legislation last year establishing an independent body, the Nigeria Extractive […]

Texas oilman takes on Gazprom over giant contract claim

BERLIN: In a court case closely watched by investors, a Texas company is accusing Gazprom of refusing to honor an investment and property agreement in one of Russia’s biggest gas fields. Richard Moncrief, chairman of Moncrief Oil International, said he had decided to use the German courts to establish what he says is a 40 […]

Companies call for oilsands development freeze: report

For the first time, major oil producers are calling on the Alberta government to introduce a partial moratorium on oilsands development in the province’s north, according to a newspaper report. Companies including Petro-Canada, Suncor and Shell Canada signed a private letter last month asking the province to freeze land lease licences until 2011 in three […]

The cult of continuity

History would be a very boring read indeed if nothing changed. Imagine reading about the Roman Empire if it had survived intact and more or less untouched from Augustus onward. All that might be said is that the Pax Romana has been good for business and that any one day in the life of the […]

Saudi Arabia May Urge OPEC to Hold Quotas, CGES Says

(Bloomberg) — Saudi Arabia, the world’s biggest oil producer, may lobby OPEC to maintain output quotas at its March 5 meeting while trimming its own production to curb global supply, the Centre for Global Energy Studies said. “OPEC is likely to desist from making any output cuts until the second half of the year,” the […]

Argentina seeks to avoid energy crisis, as Brazil refuses to share Bolivian gas

RIO DE JANEIRO: Brazil has declined to cede any of its imports of Bolivian natural gas to Argentina, which is struggling to find more energy sources to avoid supply shortages that could derail its fast-growing economy. Argentina and Brazil are facing the possibility of short-term energy crises from a lack of natural gas, which is […]

Branson acknowledges peak oil

In an interview with Global Public Media, Sir Richard Branson told journalist David Strahan that aviation could be made Virgin Atlantic flew a Boeing 747 from London to Amsterdam with one of the four engines powered by a mixture of 80% conventional jet fuel and 20% biofuel. The biofuel was supplied by Imperium Renewables of […]

Iran shrugs off sanctions threat over atomic plans

TEHRAN (Reuters) – Iran voiced defiance on Monday as Western powers pushed for new sanctions over its nuclear programme, saying high oil prices will cushion the blow. The United States, Britain and France are pushing for a United Nations Security Council vote on a third round of sanctions this week because they fear Iran seeks […]

Whither the Bumpy Plateau of Oil Production?

Back when the October IEA total liquids number came in, Jim Hamilton at Econbrowser cited it (and other things) as evidence that there were “signs of gains in global oil production”. JD at Peak Oil Debunked had a similar reaction. I felt that was premature since that one high datapoint was not a statistically significant […]

Arctic oil bonanza worries Alaska natives

ANCHORAGE, Alaska (Reuters) – Modern technology and surging oil prices have suddenly made the prospect of drilling in the remote, icy Chukchi Sea irresistible to the world’s oil giants — and that is worrying the Inupiat people who have lived at the sea’s edge for centuries. With drilling opportunities dwindling elsewhere, oil companies earlier this […]

Virgin Atlantic flies biofuel-powered jumbo jet

Flight brings “This breakthrough will help Virgin Atlantic to fly its planes using clean fuel sooner than expected,” Sir Richard Branson, the airline’s president, said before the Boeing 747 flew from London’s Heathrow Airport to Amsterdam’s Schiphol Airport. He said the flight would provide “crucial knowledge that we can use to dramatically reduce our carbon […]

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