Australia: What kind of future will our kids inherit?

…This is what Minister McNamara had to say on the subject of growth and sustainability.

Venezuela’s Orinoco Output Exceeds 600,000 bbl/d, Topping Estimates

State oil company Petroleos de Venezuela Tuesday said its four oil upgrading ventures in the Orinoco basin produce more than 600,000 barrels of crude a day, more than the company’s own estimates. The company cited company director Eulogio Del Pino’s speech during the Second World Heavy Oil Congress in Alberta, Canada, but gave no precise […]

Mexico’s Pemex Begins Developing Deepwater Gas Field

State oil monopoly Petroleos Mexicanos has begun developing a natural gas field under 3,000 feet of water, the deepest the company has ventured into the Gulf of Mexico to date, the company posted on its Web site. Pemex, as the company is known, discovered the Holok-Temoa hydrocarbons complex in 2006 after drilling the Lakach exploratory […]

Chevron can’t offset reserve fall

NEW YORK Year-end reserves were 10.78 billion barrels of oil equivalent for 2007 and 11.62 billion at the end of 2006. With the exception of 2005, which was boosted by Unocal, Chevron’s reserves have dropped every year since 2003. Like most large oil firms, Chevron has recently struggled to replace production due to project delays, […]

Analysts: U.S. economy won

Energy department sees China, other developing areas supporting prices NEW YORK – Strong global demand for oil will keep prices high despite a downturn in demand in the U.S., two prominent forecasters warned. The U.S. Energy Department and the International Energy Agency said Tuesday there is unlikely to be much relief from high oil prices […]

Seoul to Put Priority on Energy Diplomacy

The government will emphasize boosting economic cooperation with energy-rich countries around the world to secure sustainable energy resources, the Ministry of Foreign Affairs and Trade said Tuesday. In a policy report to President Lee Myung-bak, the ministry unveiled plans for pragmatic diplomacy to help revive the nation’s economy.Under the plans, the ministry aims to establish […]

World `Squandered’ Decade in Climate Debate, Top Scientist Says

World leaders wasted a decade debating whether global warming is happening, and now need to act quickly to limit its effects, a former chairman of the United Nations Intergovernmental Panel on Climate Change said. The pace of greenhouse-gas emissions risks locking in thousands of years of higher sea levels, as well as damaging marine ecosystems […]

Climate alarmists pose real threat to freedom

By Vaclav Klaus, President of the Czech Republic. A week ago, I gave a speech at an official gathering at Prague Castle commemorating the 60th anniversary of the 1948 communist putsch in the former Czechoslovakia. One of the arguments of my speech, quoted in all the leading newspapers in the country the next morning, went […]

Energy Efficiency: A Passing Fad?

After years of consuming ever more gasoline and other petroleum products, Americans are slowly starting to change their ways. Sour economic forecasts and soaring energy prices are now leading consumers to pump less gasoline, buy fewer and smaller cars, and use public transport at the highest rates in 50 years. At the same time, companies […]

Oil seen at $200 a barrel

Now Goldman Sachs says $200 a barrel would not be out of reach if there were a “major disruption” to oil supply. Goldman analysts Arjun Murti, Kevin Koh and Michele della Vigna were quoted by Dow Jones Newswires as saying that prices had advanced more quickly than the global investment banking and securities firm forecast […]

India: High oil prices to hit common man hard

As stocks surged and salaries grew, urban India almost breezed through the dramatic rise in world oil price, from $50 a barrel to $100 in just two years. But chances are that it may now begin to hurt. Crude prices touched a new high of $109 a barrel on Tuesday and Wall Street’s biggest bond […]

Volatile Oil Prices Subject of Forum

…Oil prices aren’t just rising, “but the volatility is also worsening-fluctuations are more pronounced than they were in the 1990s,” says WBI Senior Economist Yan Wang, the task manager of the forum. “Unlike the previous oil shocks which were largely supply induced, price hikes this time reflect growing energy demand in emerging markets especially China […]

Petroleum engineer to discuss peak production

Career oil hunter says oil production will decline as fossil fuel supply runs out As a high school student in Southern California in the late 1950s, Ted Bezzerides worked part time pumping gas. “I remember s pilling some gas on the ground when it was 18 cents a gallon With gasoline hovering at around $3.50 […]

Canada: Liberals, NDP decry Tories’ oilsands plan

EDMONTON – Alberta’s Energy Minister — and some oil industry leaders — took a conciliatory tone to new federal rules affecting oilsands developments and coal-fired power plants yesterday, at the same time they were denounced by opposition parties. The restrictions will require new oilsands plants to install carbon-capture and storage systems by 2012, and restrict […]

New technology has high costs and legal pitfalls

OTTAWA Mr. Baird said Canada simply cannot meet its targets to reduce greenhouse gas emissions by 20 per cent from 2006 levels by 2020 without the widespread adoption of such technology. The challenge, however, is that a carbon capture and storage (CCS) system would be hugely expensive, while the technology has been integrated and tested […]

Nigeria oil rebel pipeline found

Nigeria’s army says it has found a private pipeline that was used to supply oil to a militant leader’s home. The underground pipeline ran from a major oil refinery to a hideout in Rivers State of Ateke Tom, the head of the Niger Delta Vigilantes. Mr Tom is accused of being behind much of the […]

California’s greenhouse-gas law: Who will pay?

Oakland, Calif. – Somebody, somewhere will have to pay for California’s landmark law that would force dramatic cuts in greenhouse-gas emissions by 2020. Two years on, it’s not much clearer who. State lawmakers last week expressed frustration with a proposal by Gov. Arnold Schwarzenegger that would further defer that decision. Businesses may ultimately have to […]

Mass transit use hits 50-year high on pump prices

NEW YORK (Reuters) – The number of Americans hopping buses and grabbing subway straps has climbed to the highest level in half a century as soaring gasoline costs push more commuters to take mass transit. U.S. mass transit ridership began to surge when gasoline hit the $3 a gallon level in 2005 and has continued […]

Gazprom to buy Central Asian gas at ‘European prices’

MOSCOW: Gazprom said Tuesday that it would begin paying “European prices” for natural gas bought from three Central Asian countries next year, a move that could result in markedly higher prices for European consumers. The decision “is based on the interests of the national economies and takes into account international obligations to ensure reliable and […]

Oil prices rocket close to 110 dollars a barrel

NEW YORK (AFP) – World oil prices continued their record charge Tuesday, rocketing close to 110 dollars amid lingering supply concerns and as the US dollar plumbed fresh lows against the euro. Traders say oil prices have also been propped up because “black gold” is priced in dollars and buyers and speculators armed with stronger […]

The Bad News at the Pump: The $100-plus Barrel of Oil and What It Means

Back in January, on his trip to the Middle East, the President all but begged the Saudi royals — the New York Times referred to his requests as “entreaties” — to put more oil on the global market and so lower prices at the pump in the U.S., essentially saving his “legacy.” In April 2005, […]

World warned on food price spiral

Six families around the world share their shopping list and tell the BBC how the global rise in food prices has affected their eating habits. We will return to the families in the months ahead to see if prices have changed. BBC

Blood Tax Instead of Energy Policy

Riding on the USS Murphy, a tall, black-bearded Arab king anticipated his important meeting. His bodyguards, fierce-looking men armed with daggers on their belts, assisted him because battle wounds had long ago weakened his legs. The destroyer carrying these men met the USS Quincy in the Great Bitter Lake where three admirals and F.D. Roosevelt […]

A Pentagon Problem

The Pentagon sharks are circling CENTCOM Commander Adm. William “Fox” Fallon for a magazine interview in which he appears to openly criticize President Bush on the administration’s Iran policy. The very public comments raised speculation Fallon would either volunteer or be forced to resign. The current issue of Esquire Magazine portrays Fallon as the one […]

Climate change will have a significant impact on transportation infrastructure

While every mode of transportation in the U.S. will be affected as the climate changes, potentially the greatest impact on transportation systems will be flooding of roads, railways, transit systems, and airport runways in coastal areas because of rising sea levels and surges brought on by more intense storms, says a new report from the […]

Earthquake activity is frozen by ice sheets

Can you put a freeze on earthquakes? It seems so, according to a computer model showing that earthquakes happen less often in areas covered by ice caps. Trouble is, quakes come back with a vengeance when the ice melts. Andrea Hampel at Ruhr University in Bochum, Germany, and colleagues wondered why Scandinavia experienced a surge […]

Alarming Increase in Expected Growth of China’s Carbon Dioxide Emissions

The growth in China’s carbon dioxide (CO2) emissions is far outpacing previous estimates, making the goal of stabilizing atmospheric greenhouse gases much more difficult, according to a new analysis by economists at the University of California, Berkeley, and UC San Diego. … The researchers’ most conservative forecast predicts that by 2010, there will be an […]

Economides: Presidential Candidates Clueless on Energy

It is certain that the United States is in for an energy price and supply shock the likes of which we have never experienced or imagined. While high prices, to a reasonable extent can be tolerated, hell will break loose if massive supply disruptions emerge. We are much closer to them than people think. Those […]

Gasoline: Painful, and getting worse

Experts say record pump prices are pushing energy spending to early 1980s levels, and that’s helping pull the economy into recession. NEW YORK (CNNMoney.com) — So gasoline prices are at an all-time high. But after adjusting for inflation, rising incomes and better fuel efficiency, how bad are they really? The experts’ answer: Bad. Nearly as […]

Pollution is called a byproduct of a ‘clean’ fuel

MOUNDVILLE, Alabama: After residents of the Riverbend Farms subdivision noticed that an oily, fetid substance had begun fouling the Black Warrior River, which runs through their backyards, Mark Storey, a retired petroleum plant worker, hopped into his boat to follow it upstream to its source. It turned out to be an old chemical factory that […]

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