What if the MSM simply can’t cover humanity’s self-destruction?

If those who counsel inaction and delay succeed, billions of humans will suffer unimaginable misery and chaos while most other species will simply go extinct. Maybe the best one line description of our current situation I have read is: It may seem impossible to imagine that a technologically advanced society could choose, in essence, to […]

Alaska plays hardball with oil companies

Some analysts wonder if governor is asking too much as she seeks more revenue for her state in time of soaring energy prices Alaska Gov. Sarah Palin is challenging some of the world’s biggest oil companies, and like Venezuela President Hugo Chavez, she’s not backing down. Palin threatened to evict Exxon Mobil Corp., the world’s […]

Texas poised to become regional hub for ethanol

Panhandle alone will have four big plants soon HEREFORD Yet it won’t have bragging rights long. Three more major plants are to open this year in the Panhandle, and other projects are in the works. With the new plants, Texas is poised to emerge as a key regional hub for ethanol production

U.S. economy has less impact on oil prices now: Iran

TEHRAN (Reuters) – U.S. economic performance has less impact on oil prices than in the past because growth in demand has recently come mainly from countries like China and India, a senior Iranian oil official said on Sunday. Mohammad Ali Khatibi, speaking on the oil ministry’s news Web site SHANA, said U.S. calls for a […]

The Crash is past, Comes now Inflation

…So, essentially, what we Other than the process of vetting a doctoral dissertation, defending the past is never a winning choice for an extended period of time. For Wall Street and U.S. elites, defending the past has led us into the worst financial crises since the Great Depression. But, worse, they are attempting to continue […]

Algeria anticipates retreat of world demand on oil by 1.4 million bpd

ALGIERS, March 9 (KUNA) — Algerian Minister of Energy and Mines and current president of the Organization of Petroleum Exporting Countries (OPEC), Chakib Khalil on Sunday anticipated that the world demand on oil would decline by 1.4 million barrels per day (bpd) starting from the second quarter of this year, while the current production of […]

Can We Survive? (Part 1)

THE CHANGES REQUIRED TO DEAL EFFECTIVELY WITH GLOBAL WARMING Four significant and interconnected physical problems are likely to reach critical stages over the next two decades. They are: ● Global warming and environmental degradation ● Depletion of key resources including oil, gas and potable water ● Pollution caused by use of fossil fuels with current […]

India-IAEA pact close, but U.S. nuclear deal clouded

NEW DELHI (Reuters) – India is close to finalising the text for an agreement with the International Atomic Energy Agency, but may fail to save a nuclear deal between New Delhi and Washington that remains clouded in political uncertainty. The nod of the IAEA is among several mandatory clearances required for the contentious India-U.S. nuclear […]

Gull fires salvo at oil warnings

Pioneering biofuel supplier Gull Petroleum is lashing out at bigger oil companies for warning of dire consequences from making mandatory sales targets too ambitious. BP and Mobil warned a parliamentary select committee last week of high compliance costs from having to install duplicate storage tanks and blending facilities at up to nine oil terminals throughout […]

Mexico’s main crude oil ports closed, one reopens

MEXICO CITY, March 8 (Reuters) – Two of Mexico’s three main crude oil ports were closed to shipping for a second successive day as bad weather in the Gulf of Mexico caused big sea swells, the government said on Saturday. The ports of Dos Bocas and Cayo Arcas were shut because of waves in the […]

Crude oil prices may surge to $130 this year, says fund chief

LONDON: Crude oil may reach a record $130 a barrel this year because pension funds are investing more in commodities, said Pierre Andurand, the chief investment officer of BlueGold Capital Management, a hedge fund. The outlook for oil over the next five years is also Oil companies such as ExxonMobil, Royal Dutch Shell and BP […]

Price war threat to UK gas supplies

Global demand is forcing LNG suppliers to divert tankers from Britain to countries happy to pay more, which will have knock-on effects on homeowners The story is a familiar one. The Isle of Grain is Britain

‘Dirty bomb’ threat as UK ships plutonium to France

From Sellafield, an ordinary, unarmed ferry is to transport weapons-ready plutonium Yet the Nuclear Decommissioning Authority, which owns Sellafield, is to take it on an old roll-on roll-off ferry with few security and safety features

UK: Energy bills rise 50% for low use

ENERGY companies have increased the bills of low power users, including second home owners and young professionals, by more than 50%, three times their headline increases. Npower has hiked gas bills for 30,000 customers by an average of 40%. The worst hit customers are in the East Midlands, London and the northwest with increases of […]

As world appetite grows, will oil hit $200 a barrel?

Oil prices bounced to more than $100 a barrel on Jan. 2 and again in February and March. Some Wall Street traders have started to bet on $200 a barrel. Consumers seem be used to the high price of gas. A study by researchers at the Institute of Transportation Studies at the University of California, […]

Could Arctic ice melt spawn new kind of cold war?

WASHINGTON (Reuters) – With oil above $100 a barrel and Arctic ice melting faster than ever, some of the world’s most powerful countries — including the United States and Russia — are looking north to a possible energy bonanza. This prospective scramble for buried Arctic mineral wealth made more accessible by freshly melted seas could […]

Drilling for oil to start in Falkland Islands

The inhabitants of the Falkland Islands are preparing for a South Atlantic oil rush which they hope will make them among the richest people in the world. After 10 years of frustrating delays since oil fields containing up to 60 billion barrels of “black gold” were discovered off the islands, oil companies are planning to […]

Harsh truth behind oil at $105 a barrel

Who would have believed that the world could shoulder an oil price that reached a record high in New York last week of $105 a barrel? The soaraway price of black gold has prompted apocalyptic visions of a planet that will soon run out of oil, with dire consequences for mankind. While many will find […]

Russia

Gazprom, the Russian state-controlled energy group, could become a sponsor of the London Olympics. The company has held talks with the International Olympic Committee (IOC) with a view to becoming one of 12 potential Gerhard Heiberg, chairman of the IOC

Belarus cuts Washington off over U.S. sanctions against against oil company

MINSK, Belarus – The Belarusian Foreign Ministry told the U.S. ambassador on Friday to leave the country and recalled its own ambassador from the U.S. over economic sanctions Washington imposed on the former Soviet nation last year. State Department spokes-man Tom Casey told reporters that U.S. Ambassador Karen Stewart has not been formally expelled. “The […]

Official: China to put into use two more oil reserve bases

BEIJING, March 8 (Xinhua) — Another two strategic oil reserve bases will soon be put into use, a Chinese official said Saturday on the sidelines of the annual session of the country’s top political advisory body. “Two oil reserve bases in Huangdao (of Shandong Province) and Dalian (of Liaoning Province) is near completion,” said Zhang […]

The Triumph of OPEC

For nearly half-a-century, the organization has been a cartel in name only. Now it may be the real deal. For much of its 47-year existence, the Organization of the Petroleum Exporting Countries (OPEC) has been a cartel in name only. It could not, in practice, control oil prices because many of its members regularly breached […]

Senate Committee Seeks Audit of Iraq Oil Money

Two senior members of the Senate Armed Services Committee have requested a full accounting of how Iraq is spending its soaring oil revenues, amid starkly conflicting estimates of how much the country has invested in rebuilding its broken infrastructure and providing basic services to its citizens. The request, sent Friday to David M. Walker, the […]

Iraq vows to block oil contracts signed by Kurds

ANKARA (AFP) – Baghdad will block any contracts signed by foreign oil companies with Iraqi Kurdish regional authorities, Iraq’s Oil Minister Hussein Chahristani said on Saturday. “All contracts will be handled by the central government,” he told a joint press conference in Ankara with his Turkish counterpart Hilmi Guler. “No contracts signed by any regions […]

Better mileage than a Prius? Not so fast

VW’s new diesel-powered hybrid gets great mileage – better than Toyota’s top-selling hybrid. Its price-tag is another story. NEW YORK (CNNMoney.com) — It was bound to happen – the Toyota Prius could soon lose its crown as the most fuel-efficient car on the market. But you might want to hold off before you cancel your […]

Seeing an End to the Good Times (Such as They Were)

If history is a reliable guide, the recession of 2008 is now unavoidable. … And if the good times have really ended, they were never that good to begin with. Most American households are still not earning as much annually as they did in 1999, once inflation is taken into account. Since the Census Bureau […]

EU report warns of conflict with Russia over energy issue

A REPORT on security challenges to the EU will bluntly warn the union’s summit next week that Europe could face conflict with Russia over access to energy reserves in the Arctic and a dangerous surge in immigration due to the impact of climate change. And the report warns that the EU must address the reality […]

Iran sees pre-election US bid to reduce oil price

TEHRAN (Reuters) – A senior Iranian oil official said on Saturday he expected the oil price to fall ahead of November’s U.S. presidential election, suggesting Washington would seek to push it down for political reasons. Hojjatollah Ghanimifard told the Fars News Agency that “those in political power in the (United States) will try to (influence) […]

State Offers Help After Waterbury Oil Company Abruptly Closes

WATERBURY, Conn. — The state is offering to help 12,000 customers of a Waterbury oil company that abruptly went out of business and left many people with pre-paid contracts in limbo. Gov. M. Jodi Rell says state investigators will go to the headquarters of F. and S. Oil Company first thing on Monday to demand […]

Does the U.S. have the right to demand that OPEC increase supplies?

With oil hitting a record $106 this week, this seems like a relevant question. My feeling is that the U.S. has the right to demand the increase. I believe in freedom of speech and see no reason why that freedom of speech should be constrained when it comes to market matters. Obviously, OPEC is free […]

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