Oil constraints to cause ‘huge recession’

The world will have to suffer a deep economic downturn before serious attempts are made to kick the oil habit, according to the chairman of PFC Energy, the Washington based oil consultancy. In an interview with lastoilshock.com and Global Public Media, Robin West said it would be very difficult for the oil industry ever to […]

Pemex Says January’s Daily Oil Output Little Changed

(Bloomberg) — Petroleos Mexicanos, the state- owned Mexican oil monopoly, said daily crude oil production in January was little changed from December. Output rose to an average 2.957 million barrels a day from 2.954 million barrels in December, Mexico City-based Pemex, as the company is known, said today in an e-mailed statement. Production fell 5.9 […]

China, India speed climate change: Australian report

SYDNEY (AFP) – The economic rise of China and India means climate change is occurring faster than previously thought, making efforts to fix the problem more urgent, an official Australian report found Thursday. …In his interim findings, Garnaut said rapid industrialisation in China and India meant climate change was happening faster than expected and the […]

Cities step up tree plantings

BURLINGTON, Vt. – Increasingly, trees are the new must-have for American cities. Some prodded by environmental awareness, some by regulatory edict, they’re stepping up tree plantings in hopes of improving air quality, reducing energy consumption and easing storm water flows. And a four-man team of scientists at the University of Vermont is helping urban planners […]

Fire and Rain: The Consequences of Changing Climate

The consequences of climate change are often presented in the media as coastal flooding after the melt of Greenland or Antarctic ice. That is the headline most often seen, however the real problems will be much more extensive. I’d like to look at some of those problems, in particular those of wildfire and agriculture, and […]

The Impossible Dream of Energy Independence

Energy Analyst Robert Bryce Explains Why Trying to Make All Our Own Power is a Foolish Idea In his forthcoming book Gusher of Lies: The Dangerous Delusions of Some of the myths of energy independence Bryce takes aim at are summed up in this January Washington Post op-ed. They include the false belief that U.S. […]

Pentagon faces a battle on climate change

…The stakes are high. The consequence of the Pentagon’s failure to prepare could result not just in lost dollars but also in lost lives. There are five key areas in which effective military planning can be undermined by uncertainty over when and how the major carbon-emitting countries combat climate change. First, climate change poses a […]

Oil muscles past faltering U.S. economy

With oil over $100 despite a flagging U.S. economy, prices seem moved more by strength in global demand. NEW YORK (CNNMoney.com) — There was a time when oil prices needed the backing of a strong U.S. economy to reach record levels, but oil prices hit all-time highs again Wednesday even as a recession looms. Clearly, […]

U.S. Presidential candidates’ staffs briefed on peak oil

Just to cover my bases, in case politics and laying groundwork can do wonders, I have just spent a week in Washington, D.C. talking with staffers of Senators Obama, McCain and Clinton. Their understanding of peak oil is rising at a critical time, perhaps in time for the election, but certainly afterwards for Presidential or […]

Cheap, renewable energy years away: Shell

BRUSSELS He told the EastWest Institute think-tank in Brussels that Shell saw

Pickens sees oil, natural gas prices falling

NEW YORK (Reuters) – Oil investor T. Boone Pickens said on Thursday he has a short position on oil and natural gas due to his expectation that prices will fall in the near-term. Pickens, speaking on CNBC television, said he expects the price of oil to fall $10 a barrel to $15 a barrel in […]

News blackout on Nigeria oil rebel raises tensions

ABUJA, Feb 21 (Reuters) – Militants in Nigeria’s oil producing Niger Delta have been angered by the government’s failure to give more news of detained rebel leader Henry Okah and the issue could cause more violence and derail peace talks. The president’s spokesman said on Tuesday night Okah was alive and in safe custody, dismissing […]

Pumped up

Why the price of oil and other raw materials continues to rise despite the economic gloom BANKERS and policymakers may be wringing their hands about the prospects for the world economy, but commodities traders, it seems, see no cause for concern. On Wednesday February 20th the oil price hit a new record of $101.32 a […]

Venezuela settles with oil firms

The Venezuelan government has paid $1.8bn ( Exxon is seeking $12bn in compensation from Venezuela’s state energy group, PDVSA, after its interests were nationalised last year. Venezuela has accused the US oil giant of exaggerating the value of the firm’s former investments in the country. BBC

Crunch time for South America’s gas supplies

Chile, which also produces more than a third of the world’s copper, is the vulnerable last link in a strained gas supply chain across a region where populist policies have held back the development of energy reserves. The energy crisis is weighing on Chile’s growth forecasts as it seeks to secure membership of the Organisation […]

Risk Of Permafrost Thaw A ”Wild Card” In Warming – UN

A thaw of Arctic permafrost is a “wild card” that could stoke global warming by releasing vast frozen stores of greenhouse gases, the UN Environment Programme (UNEP) said on Wednesday. More research was urgently needed into the possibility of a runaway release of methane, a powerful heat-trapping gas trapped in frozen soils in Siberia, Canada, […]

Biofuel doubts hit Dutch renewable energy output

The proportion of Dutch electricity produced from renewable sources fell to 6 percent in 2007 from 6.5 percent in 2006 as less biofuels were used, the statistics office said on Wednesday. Statistics Netherlands (CBS) said in a statement that power plants almost halved the use of biofuels in 2007 compared to 2006 after government subsidies […]

China: Adapt to dearer oil

Triple-digit oil prices will surely complicate the Chinese government’s efforts to fight domestic inflation. Yet, policymakers should face it with a greater sense of urgency to reform the country’s energy pricing system. International oil prices closed above $100 a barrel on Tuesday, shrugging off increasing evidence of a US recession.For China, a net oil importer […]

The Next Price to Watch for After $100 Oil

Now that oil has closed at $100.01 a barrel, what is the next benchmark to watch for on the way to potential global energy crisis? Well, the price of oil still has to rise about $1.70 more to surpass its all-time inflation-adjusted peak of $101.70, as calculated by the International Energy Agency. As we’ve noted […]

Demand fuels oil industry confidence

At last week’s annual gathering of global oil industry executives and academics at the Cambridge Energy Research Associates conference in Houston, Texas, climate change and energy security were high on the agenda. A US recession was not. The surge in commodity prices to record levels in recent years has left the leading oil companies flush […]

Brunei: Days Of Cheap And Easy Oil Are Over

Brunei’s Minister of Energy at the Prime Minister’s Office yesterday called oil the lifeblood of Brunei Darussalam and hence it matters very much how well the country manages these valuable resources. ” It is not easy to bring out oil from the ground. The days of cheap and easy oil are not here anymore,” said […]

Australia: Planning for peak oil – what it will mean

Peak oil is a term to describe the dwindling world oil supply. We won’t run out of oil – at least not in the short term – but there will be less oil and it will be more expensive. This problem is exacerbated by the burgeoning economies of India and China; so, just as supply […]

ASPO-USA: These are the good years

The Energy Information Agency’s latest Short-Term Energy Outlook (STEO) contains a supplement on the Outlook for Non-OPEC Oil Supply Growth in 2008-2009. If the EIA’s forecast is correct, the world is due for a huge increase in liquids production this year and next. The STEO notes that “recent history has shown that non-OPEC capacity growth […]

The Peak Oil Crisis: Connecting the dots

Earlier this week oil closed above $100 a barrel for the first time. To make matters worse, wholesale gasoline and heating oil jumped 11 cents a gallon in a single day to their all-time highs. A lot of bad news triggered the increase of nearly $14 a barrel in the last two weeks. A 70,000 […]

Oil at $100 to sharpen pain for US consumers

Oil’s rise above $100 a barrel will probably sharpen the trends the US has witnessed during the commodity’s climb, ranging from high petrol and home heating prices to difficult operating conditions for industry, according to analysts. “$100 crude is really an exclamation point behind the trends we have seen the last year or two,” said […]

Russian expert says oil dealings in Iranian Oil Exchange Market soon

Head of Iran Contemporary Studies Center in Russia Rajab Safarov says in the coming months, Iran wants to privatize its oil companies, whose number is no more than 40, and start oil deals in Iran’s Oil Exchange Market. Safarov told Moscow-based daily Vermianovesti that Iran’s Oil Exchange is a crucial body that is expected to […]

Oil hits record over $101 on OPEC, funds

NEW YORK, Feb 20 (Reuters) – Oil vaulted to a record over $101 a barrel on Wednesday as OPEC supply concerns and hedge fund buying countered worries about the U.S. economy. U.S. crude ended up 73 cents at $100.74 barrel, the top settlement on record, after hitting an all-time high of $101.32 a barrel earlier […]

Facts, Figures, and Charts for Plan B 3.0

Need data? Sometimes numbers can tell a story. Here are some of the figures from the behind-the-scenes research for the latest book from Earth Policy Institute… Did you know?: The eight warmest years on record have all occurred in the last decade. For seven of the last eight years, the world has consumed more grain […]

Afghanistan: Power Cuts Leave Helmand Shivering

An unusual cold snap combined with an almost total power blackout has left Helmand residents shivering in their homes. Most of households, even in the capital, Lashkar Gah, have no electricity at all. Others get it for no more than an hour or two per day – just enough to turn on their water pumps […]

Cuba Change in Leadership Could Open Economy

After the announcement of Fidel Castro’s exit stage right as the 50-year leader of Cuba, analysts are scrambling to get a fix on what the change will mean for the Cuban economy, as well as the economy of U.S. oil and gas companies that could possibly benefit from the change in power. An Oppenheimer news […]

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