Nuclear is UK’s new North Sea oil – minister

A government minister will call today for a huge expansion of Britain’s nuclear power in what he predicts could be a He will argue that replacing the existing reactors will be equivalent to investment “three times the size of the project to build Terminal 5 at Heathrow”, but that the economic benefits could be far […]

‘New bill to ready SA for oil shortage’

The likelihood of massive worldwide crude oil shortages in the next few decades may mean that South Africans will have to bite the bullet in the ongoing energy crisis while alternatives are developed. This was the warning sounded by the Department of Minerals and Energy on Tuesday on the “immediate” need to put in place […]

Cambodian oil production to start in 2011: energy official

Cambodia expects to begin oil production in 2011, a senior energy official said Wednesday amid warnings that new-found petroleum reserves did not guarantee instant prosperity for the impoverished country. “If there is no delay, we are planning the first oil production for around 2011,” said Te Duong Dara, director-general of the Cambodian National Petroleum Authority […]

We Need To Solve The Oil Crisis–Now

I am writing this column against the advice and wishes of my editor [at Forbes], because I believe that America is in danger and we must do whatever it takes to save the country. My recommendations about keeping oil prices under control may not be great ideas–or even good ideas. My point: As a nation, […]

Biofuel demand ‘will increase GHGs’

A team of researchers from Princeton University concluded land use change reduces the benefits of biofuels because it would release carbon sequestered by the land into the atmosphere. Presenting the results of the study at Imperial College, London, Professor Tim Searchinger, one of the authors of the study, said increasing demand for food will put […]

The strain of $100 oil for Gulf states

Pleas from the US for Opec to pump more oil have fallen on the deaf ears of Opec ministers as oil prices stay above $100 a barrel. But this may be about to change, even if there’s no official shift in Opec policy. A weak dollar is putting the economies of Opec’s most powerful members, […]

Without biofuel crude prices could be $150-200

What would have been the crude oil price now with out the limited production of biodiesel. It would have reached $150-200 per barrel. Experts attending the two-day Plantation Investment Asia 2008 Conference here said that many richer countries may subsidise biofuel to keep crude oil prices in check. The present production of 4-5 million barrels […]

Satellite images of Wilkins Ice Shelf collapse

The shelf’s rapid collapse began on February 28 (see image sequence at top right), sending a giant swath of broken ice into the sea (detail at bottom). (PO News already has an item on this but the Satellite images in this NG article are worth a look.) David Vaughan of the British Antarctic Survey noted […]

Oil Firms ‘In Liquidation,’ Says Simmons

The “peak oil” debate continued to rage with one of its principal proponents, energy sector investment banker Matthew Simmons, appearing on CNBC Tuesday to insist that major oil firms are “actually in liquidation.”Simmons’ assessment of major oil companies’ fate is the “grim reality,” he says, of the firms even as they insist that vast potential […]

Peak Oil vs. Global Warming

Will we avoid the worst ravages of global warming because we run out of oil? Not since King Kong vs. Godzilla have we seen a monster fight of this magnitude. Disaster vs. Disaster, Category I Apocalypse vs. Category I Apocalypse. Best of all, NASA’s James Hansen serves as referee.In the first corner, we have Peak […]

The Economy and Crude Oil

[P]erhaps the really big questions center on whether the Banking System will survive and whether or not the Dollar will collapse. At present, we believe that a huge Banking System crisis will be seen in the next 18 to 20 months, and that several large Financial Sense

Antarctic ice shelf collapses in runaway disintegration

A chunk of Antarctic ice nine times the size of New York’s Manhattan Island has collapsed suddenly and put an even larger glacial area at risk. Satellite images show the runaway disintegration of a 220-square-mile (570-square-kilometer) chunk in western Antarctica. British scientist David Vaughan says it is the result of global warming. The rest of […]

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Is the Arctic the Last Great Oil Frontier?

With George W. Bush calling for more OPEC supplies and the price of crude pushing well past $100, is the moment for Arctic oil at last arriving? While the estimates of oil and gas reserves under the ice remain as varied and uncertain as ever, the countries encircling the Arctic region are clearly starting to […]

The Military-Petroleum Complex

In November 2002, before the invasion of Iraq, then secretary of defense Donald Rumsfeld told Steve Kroft of CBS that U.S. saber-rattling toward Iraq had “nothing to do with oil, literally nothing to do with oil.” In 2003, Rumsfeld called the assertion that the United States had invaded Iraq to get at its oil “utter […]

S. Korea to Cut Tariffs on Oil Imports

South Korea’s Finance Ministry said Tuesday that it will cut import tariffs on four oil-related products including gasoline as part of its efforts to ease mounting inflationary pressure on consumers and companies. The Ministry of Strategy and Finance said it will reduce import tariffs for gasoline, kerosene, diesel and heavy oil products from the current […]

The Russian Bear Awakens: A Global Macro View

Russian oil reserves make the Persian Gulf look like a puddle of spit. Just the known proven oil reserves in Russia are the eighth largest in the world, and Russia is already the world’s second largest producer of oil. Speculation abounds that actual extractable reserves are far larger, and are either not proven or are […]

Chinese gov’t to spend 78% more on energy efficiency, emission reduction

China’s central government plans to increase spending on energy efficiency and greenhouse gas emission reduction schemes by 78 percent this year as part of a larger effort to meet its 2010 environmental targets, the Ministry of Finance said Monday. Total expenditure would rise to 41.8 billion yuan (5.89 billion U.S. dollars) from 23.5 billion yuan […]

S-Af: Energy-crisis myths, misrepresentations and fallacies

A fundamental and poorly understood characteristic of the electricity-supply industry is that large quantities of electricity, the quantities needed to supply big cities and heavy industry, cannot be economically stored. It must be manufactured at the same time and in the same quantities as it is being used. Turning something off does not allow electricity […]

New Limits to Growth Revive Malthusian Fears

Now and then across the centuries, powerful voices have warned that human activity would overwhelm the earth’s resources. The Cassandras always proved wrong. Each time, there were new resources to discover, new technologies to propel growth. Today the old fears are back.Although a Malthusian catastrophe is not at hand, the resource constraints foreseen by the […]

Algae biofuel ‘in five years’

A commercial alternative to diesel using biofuel made from algae will be developed in five years, the South Australian Research and Development Institute says. Research is expected to begin at SARDI’s new Aquatic Sciences plant at West Beach next year, facility manager Eric Capelle said.The $5 million project will be used for research into micro-algae […]

Mexico’s oil production falls 6.4 percent in first two months of year

Mexico’s oil production fell 6.4 percent in the first two months of the year compared to the same period in 2007, while exports fell by more than twice that much, the state-owned oil company reported Monday. Daily crude output fell to an average of 2.94 million barrels per day in January and February, Petroleos Mexicanos, […]

Oil hunt drives Peru’s last native people to a corner

Though celebrities around the world play at roughing it in the jungle, in Peru it’s not just a game for those living isolated from the outside world. There are small groups of the Cacataibo community living in the Cordillera Azul mountain range in Amazonia, near the Brazilian border. Most of the Cacataibos have come into […]

UK: Biofuels will speed climate change, chief scientist says

Professor Robert Watson spoke out just days before Westminster is to introduce a policy dictating minimum levels of the fuels at the pumps. He said it would “obviously be totally insane” to have a scheme aimed at reducing greenhouse gases by using biofuels, which instead led to an increase in emissions, and suggested a further […]

Cheney says Saudis kept promise on oil production

JERUSALEM (Reuters) – U.S. Vice President Dick Cheney said on Monday that Saudi Arabia had kept its promise to increase oil production capacity over the past three years. Cheney was in Jerusalem after visiting Saudi Arabia last week where he reviewed the situation with Oil Minister Ali bin Ibrahim al-Naimi. Riyadh had told the United […]

UK: Mysterious death of the petrol station

The fuel gauge reads empty and the warning light is on. Ahead looms a petrol station sign. But the forecourt is dark and fenced off, weeds crack the concrete and the pumps are long gone. Perhaps there is a sign announcing that the site will soon be luxury flats. If the above scenario sounds familiar, […]

Smuggling drains Bolivia of oil riches

…Two men are loading a small white, red and blue boat on the Bolivian bank of the river. About 50m away, on the Peruvian side, Cecilio Flores is anxiously waiting to load his precarious tricycle with the 20-litre barrels being hauled aboard. Mr Flores transports up to 10 loads of subsidised Bolivian diesel oil each […]

China

As sport utility vehicles (SUVs) become increasingly unpopular in Europe and the United States, the gas-guzzling wagons are capturing the attention of an expanding class of Chinese consumers: the new rich. The rapid increase in SUV sales in China is the result of a strong push by international automakers to capitalize on the huge Chinese […]

FACTBOX-US military fuel spending

U.S. military fuel consumption dwarfs energy demand in many countries around the world, adding up to nearly double the fuel use in Ireland and 20 times more than that of Iceland, according to the U.S. Department of Energy. From the start of the Iraq war in 2003 up till 2007, U.S. military fuel consumption has […]

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