China faces shortage of 6 billion tons of oil

TOKYO (KUNA) — China, the world’s second-biggest energy consumer, faces a shortage of 6 billion tons of oil and 600 million cubic meters of natural gas over the next few years, as the country has entered a phase of rapid mineral consumption amid its rapid industrialization, the official media reported Monday. “An insufficient supply of […]

The world gets heavier

High prices and growing demand put global focus on unconventional oil plays The world is hungry for oil. In 2007 it consumed around 87 million barrels per day, despite prices averaging a little over $75 per barrel for the year. By 2015 supplies are expected to increase to 110 million barrels per day, according to […]

Pimentel: Corn can’t save us: Debunking the biofuel myth

Dwindling foreign oil, rising prices at the gas pump, and hype from politically well-connected U.S. agribusiness have combined to create a frenzied rush to convert food grains into ethanol fuel. The move is badly conceived and ill advised. Corporate spin and pork barrel legislation aside, here, by the numbers, are the scientific reasons why corn […]

The Fading Twilight of Oil

Houston investment banker Matthew Simmons is somewhat surprised and obviously pleased that his 2005 ‘Twilight in the Desert’ has now surpassed 100,00 copies in print — making it a best seller of sorts — and that it is now available in German, Chinese, Japanese and Korean. But what really pleases him is that despite early […]

Federal funds for roads fading fast

WASHINGTON …The bulk of funding for the federal Highway Trust Fund comes from the 18.4 cents-per-gallon federal gasoline tax. But revenues from the tax have flattened out, likely because people are driving less due to the price of gas and because cars have become more fuel efficient in the 14 years since the federal gas […]

OPEC vis-a-vis $100 per barrel

Crude oil prices were up again last week, reaching the $100 level, which it had attained at the beginning of the year despite the gradual decline to the $86 mark. Why are oil prices up again? As usual, several factors are responsible for the change in the direction of prices in this case. First, there […]

Large Potential Albanian Oil and Gas Discover Underscores Kosovo’s Importance

On January 10, Swiss-based Manas Petroleum Corporation broke the news. Gustavson Associates LLC’s Resource Evaluation identified large prospects of oil and gas reserves in Albania, close to Kosovo. They’re in areas called blocks A, B, C, D and E, encompassing about 780,000 acres along the northwest to southeast “trending (geological) fold belt of northwestern Albania.” […]

Antarctic glaciers surge to ocean

UK scientists working in Antarctica have found some of the clearest evidence yet of instabilities in the ice of part of West Antarctica. If the trend continues, they say, it could lead to a significant rise in global sea level. The new evidence comes from a group of glaciers covering an area the size of […]

10 things the nation must do to avert an energy crunch

THE price of crude oil has topped $100 a barrel and could go higher. Rising demand for oil in India and China, combined with global bottlenecks in production and refining, could cause an energy crunch with the potential to disrupt economies and place public safety at risk. At the same time, the burning of carbon-rich […]

Energy policy: We won’t get there by tinkering

Leadership in the White House is about to change, and with that change comes the possibility of a smarter energy policy. There was a time when one could tell who was a Democrat and who a Republican by asking what the candidate’s position was on energy and global warming. Today, such distinctions are blurred. All […]

Oil industry and wind farms battle for tax breaks

WASHINGTON Renewable energy has received special tax breaks going back to 1994. However, for those benefits to continue, Congress must cut spending elsewhere or raise taxes to comply with the budget restraints that Congress enacted for the new fiscal year. Sen. Maria Cantwell, D-Wash., whose state generated 1,163 megawatts in 2007 from wind farms, says […]

High oil prices take a toll on the middle class in the Middle East

AMMAN: Even as it enriches Arab rulers, the recent oil-price boom is helping to propel an extraordinary rise in the cost of food and other basic goods that is squeezing this region’s middle class and setting off strikes, demonstrations and occasional riots from Morocco to the Gulf. In Jordan, the soaring price of oil led […]

Australia: Garnaut inquiry into climate change a step forward

THE interim report on climate change by Professor Ross Garnaut is excellent . Garnaut argues convincingly that Australia has more to lose from global warming than other developed countries, is well placed to profit from effective global mitigation policies and therefore concludes it is in Australia’s interests to seek international agreement based on the most […]

Australia: Government’s 50c slug on petrol

THE country’s biggest fuel refiner, Caltex, says the Federal Government is getting about 50c on every litre of petrol sold to motorists. Caltex yesterday revealed for the first time who gets what from petrol that goes through the pumps at service stations. Managing director Des King told BusinessDaily: “We haven’t announced this before, but we […]

Beware ‘First Colonization’

Steer the Chinese from suburban, driving culture Tens of millions of Chinese urbanites are living in gated communities. Advertisements for new suburban homes dominate Chinese subways and outdoor billboards, a phenomenon virtually nonexistent 10 years ago. Polling conducted by Rice University’s Shell Center for Sustainability’s Coastal Cities project shows that almost as high a percentage […]

‘The Persian Gulf of solar energy’

Arizona desert tapped for giant sun-powered plant PHOENIX Abengoa would build, own and operate the $1 billion plant, named the Solana Generating Station. Arizona Public Service, the state’s largest utility, would pay Abengoa $4 billion over 30 years for the energy produced, estimated to be enough to supply up to 70,000 homes at full capacity. […]

Mexican leftist back on streets in oil protest

MEXICO CITY, Feb 24 (Reuters) – Eighteen months after he crippled the capital with protests over a 2006 election defeat, Mexican leftist Andres Manuel Lopez Obrador was back on the street on Sunday to protect the state monopoly on oil. Obrador, who says he was robbed of the presidency by electoral fraud in July 2006, […]

Australia: Lack of parking puts train users on road

A CRITICAL shortage of commuter car parking is forcing thousands of would-be train users on to the roads adding to Sydney’s already chronic congestion, an NRMA report says. More than 40 per cent of motorists who otherwise drive all the way to work would rather park at a station and commute if there were an […]

Energy policy: Drop ideas of independence

The search for solutions to our energy challenges leads to one inescapable conclusion: There are no easy answers. Regardless of who sits in the Oval Office next January, the reality is that world oil prices will never return to the “good old days” of the 1990s. Domestic oil production reduces reliance on foreign sources, but […]

Renowned ‘peak oil’ expert addresses Dubai’s business leaders

UAE – Matthew Simmons, a prominent expert on the issue of peak oil and the author of the controversial book ‘Twilight in the Desert: the Coming Saudi Oil Shock and the World Economy’, is in Dubai this week to host a luncheon with the UAE

OPEC Production Cut In March To Send ”Bad Signals”- Official

DUBAI -(Dow Jones)- An output cut by the Organization of Petroleum Exporting Countries during its March meeting would send “bad signals” to the market and add further pressure on already soaring oil prices, a group official said Sunday. “Fundamentals do warrant a cut, but we are afraid that if such a step is taken then […]

Concerns delay Richton oil site

WASHINGTON – Environmentalists persuaded Mississippi lawmakers to press the Department of Energy to re-examine plans to store millions of gallons of oil in salt caverns near Richton, foreshadowing other hurdles the ambitious project could face. Prodded by the lawmakers, including Rep. Gene Taylor, D-4th, and Sen. Roger Wicker, R-Miss., the Department of Energy agreed last […]

Matt Simmons – Energy policy: U.S. needs to show world the way

If I were preparing a briefing for the president-elect on urgent energy actions needed in the administration’s first 30 days, it would read as follows: ● Be prepared for peak oil and gas. While the data is still imperfect, there is a high risk that global use of oil and gas is now at or […]

Yemen says foils attempt to bomb oil pipeline

SANAA (Reuters) – Yemeni forces have foiled an attempt to blow up a crude oil pipeline in the Marib province and arrested a number of “saboteurs,” the official Yemeni news agency Saba said on Sunday. “Interrogations are under way, but the initial results indicate that this group is linked to the terrorist bombing of the […]

Do svidaniya, Russian ETFs and Stocks

We recommend selling any remaining positions of Russian funds and companies, even though the Russian market is already down considerably this year. The Russian market could recover handsomely and make huge profits for those who buy in now, but it may also have significantly farther down to go.The risk we refer to is not a […]

Folding green: the investment boom

Money is pouring into the clean energy sector, which includes renewable forms of electricity generation such as wind, biomass and solar as well as companies involved in energy efficiency and waste treatment. According to research firm New Energy Finance, investment in the sector increased globally by 41 per cent last year to $117bn (But despite […]

Imagine a world that’s energy-rich

Storing electricity locally was late Nobelist’s dreamThe late Dr. Richard E. Smalley was a Nobel Laureate and professor of chemistry at Rice University. His Nobel Prize in Chemistry was awarded in 1996 for the discovery of a new form of carbon, buckminsterfullerene (”buckyballs”) with Robert Curl, also a professor of chemistry at Rice, and Harold […]

Time Ripe for Food Security to Move Up Policy Agenda

The common agricultural policy in the European Union was a direct result of a decision regarding food security following the Second World War. The goal was never to let Europeans go hungry again, and the policy was successfully implemented. The latest developments with regard to the energy crisis, and the exceptional growth in highly populated […]

Food shortages loom as wheat crop shrinks and prices rise

The world is only ten weeks away from running out of wheat supplies after stocks fell to their lowest levels for 50 years. The crisis has pushed prices to an all-time high and could lead to further hikes in the price of bread, beer, biscuits and other basic foods.It could also exacerbate serious food shortages […]

Colorado residents fight uranium mine

Jean Hediger can stand at the edge of her organic wheat farm and look west to the Rockies, east toward this speck-in-the-road town and straight ahead into what she sees as her worst nightmare. A Canadian company’s plans to establish a uranium mine just across the two-lane county road from Hediger’s farm has triggered a […]

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