Global oil production likely to peak in 2011 – analyst

The point at which the world Speaking at the Oil Africa conference in Cape Town Energy Institute researcher Chris Skrebowski said that while a debate on the issue continued to rage globally, the reality was that the world would soon begin to run out of oil reserves. In fact, he said that some oil-producing countries […]

Swiss reject US, Jewish criticism of Iranian gas deal

BERN, Switzerland: Swiss Foreign Minister Micheline Calmy-Rey on Tuesday brushed aside U.S. and Jewish criticism of a multibillion-dollar (-euro) gas deal she helped clinch with Iran, saying the Alpine republic does not need permission from the United States to advance its strategic interests. The brusque remarks by Calmy-Rey, who has ruffled feathers in Washington and […]

Tapping US heatoil reserve would lower prices – EIA

WASHINGTON (Reuters) – Releasing emergency supplies from the U.S. Northeast Heating Oil Reserve would have a short-term effect on lowering record retail heating oil prices, the head of the federal Energy Information Administration said Tuesday. “I’m sure it would have a short-term impact” on prices in the Northeast, the world’s biggest heating oil market, Guy […]

Kuwait’s parliament may be dissolved after crisis

KUWAIT (Reuters) – Kuwait’s ruler is expected to dissolve parliament in the Gulf oil exporter after the government’s resignation brought a long-running political crisis to a head, analysts and politicians said on Tuesday. “I think the emir will dissolve the parliament to end this crisis between government and parliament,” said political analyst Ali al-Baghli, a […]

LUKOIL to supply no oil to Germany in April

MOSCOW, March 18 (Reuters) – Russia’s LUKOIL will supply no crude to Germany in April for a third month in a row as it steps up pressure on the importer of Russian oil to the country to get better prices, trading sources said on Tuesday. “There will be most likely nothing for April, and going […]

Michael C. Lynch: Peak oil, uncommon ground

Steve Andrews was kind enough to approach me about writing on the subject of where the peak oil community agrees with, shall we say, its critics. However, the peak oil community is itself divided in its views and cannot be addressed as a unified whole. So, this piece will include what I consider the areas […]

India Bans Exports of Edible Oils to Boost Supplies

(Bloomberg) — India, the world’s second-biggest buyer of vegetable oils, banned exports of all edible oils to boost local supplies amid concern a smaller winter oilseed crop may worsen a shortage. The one-year restriction is effective from yesterday, the directorate general of foreign trade said on its Web site today. Edible oil shipments from the […]

Nigerian Oil Workers Threaten Walkout

Nigeria’s senior oil workers union is threatening a nationwide strike to protest the firing of some of its members by ExxonMobil. Members are to meet later Tuesday, following the expiration of a 21-day ultimatum issued by the union to the oil company to desist from what the union termed “unfriendly” labor practices. Officials of the […]

Delta Air Lines to offer voluntary severances

Offer to 30,000 workers part of overhaul to deal with high fuel costs ATLANTA – Delta Air Lines says it will offer voluntary severance payouts to roughly 30,000 employees A spokeswoman says that if more than that amount agree to take the voluntary severance, that will be allowed. The severance program primarily affects mainline Delta […]

Saudis grumble over economy despite record oil price

RIYADH, March 18 (Reuters) – Saudi Arabia is showing signs of nervousness about popular discontent over inflation, as Saudis suffer sharp price rises despite an unprecedented cash windfall from high oil prices, observers say. Saudis saw price rises hit 7 percent in January, the highest since at least 1981, while the riyal has declined in […]

Cheney says high oil price reflects market reality

BAGHDAD (Reuters) – Crude oil prices in excess of $100 a barrel reflect the reality in the market place, U.S. Vice President Dick Cheney said on Monday. Cheney, on a trip to the Middle East that started in Iraq, said he did not see a lot of excess production capacity worldwide. Cheney this week will […]

South American Natural Gas Crisis a Tragedy of Politics

BUENOS AIRES, Argentina — Few things better illustrate the tragedy of Latin American populist and nationalist politics than the crisis related to natural gas in South America. A region endowed with vast reserves and governments that describe themselves as close partners is mired in crippling power shortages and cross-border disputes over cutbacks in the supply […]

Backyard answer to energy crisis

A return to 1950s suburbia may be the answer to our needs in a low-energy future With crude oil now more than $US110 a barrel and the Organisation of Petroleum Exporting Countries announcing this month that it will not succumb to demands for raised production quotas, dark predictions of an imminent descent into a global […]

This is not science fiction

Ice scientists around the world watched with a mixture of alarm and astonishment as the great Arctic Sea ice sheet shrank over the northern summer to its lowest level in memory. The rapid melt exceeded almost every scenario the scientists had modelled. But as they crunched the numbers they found that since 1979 the summer […]

Doomsday scenario for oil

A gloomy forecast about the future of the oil industry Skrebowski said that latest BP statistics showed that peak is already happening in some regions. “OECD production peaked in 1997 and has now declined by 2.2 million barrels a day (10.4 percent),” he said. “Non-Opec, non-former Soviet Union production peaked in 2002, and has now […]

Exxon loses decision in court battle with Venezuela

LONDON: A freeze on $12 billion in Venezuelan assets awarded to Exxon Mobil should be lifted, a British court ruled Tuesday. Exxon convinced a court in January to freeze the assets of the Venezuelan state oil company so cash would be available if it won arbitration over an oil field which was lost in President […]

The U.S. Is Poised to Hit a New Oil Gusher

Oil drillers have their eye on a vast oil field in and around North Dakota, which promises a steady flow of domestic crude for years. A new black gold rush is under way, this time in North Dakota. The potential payoff is huge — up to 100 billion barrels of oil. That But times have […]

Shell counts rising cost of squeezing oil from sand in Canada

Shell Shell

Monbiot: Carbon capture just another great green scam

Clean coal’s definition changes according to whom the industry is lobbying. Sometimes it means more efficient power stations – which still produce almost twice as much carbon dioxide as gas plants. Sometimes it means removing sulphur dioxide from the smoke, which boosts the CO2. Sometimes it means carbon capture and storage: stripping the carbon out […]

Strong palm and rapeseed oil may raise food costs

Vegetable oil markets have enough support to remain firm this year with rapeseed and palm oil likely to outperform, which could put pressure on the food industry to increase prices further, analysts say. Prices of vegetable oils have pulled back in recent weeks after surging to all-time highs in February and early March on major […]

China’s energy crunch a chance for power play

Coal accounts for about 80 per cent of China’s energy supply needs and coal prices have risen more than 150 per cent over the past 18 months as the Chinese government aggressively seeks out new sources of energy. Oil, nuclear and hydro are all helping alleviate the strain, but they’re not enough. China has also […]

Hofmeister sees progress on 2 big goals

An interview with John Hofmeister, Shell CEO, bound to retire in June Q: Oil prices have reached unprecedented heights, natural gas prices are up, costs to find both are skyrocketing, refineries are stretched to the limit, and companies are posting record profits that generate much criticism from consumers and politicians. How do you respond? A: […]

Coal Reemerges As Important Raw Material In Chemical Industry

With oil prices hovering around $100 per barrel, coal is reemerging as a key raw material in the manufacture of the basic chemical materials used to make plastics, fertilizers, and hundreds of other products, according to an article scheduled for the March 17 issue of Chemical & Engineering News.Over the years, oil and natural gas […]

Mexico Braces for an Oil War

Angelic children stare at rolling waves as a deep voice booms out the wonders of petroleum. “Mexico has a great treasure, a treasure hidden below the bottom of the sea,” the narrator says soothingly above joyous music. “But the world now confronts a new reality.” Suddenly, the watcher is bombarded with graphics explaining deep sea […]

Oil Price Making Some Africans Richer, Others Poorer

High oil prices are creating the best of times and worst of times for Africa. That is according to several experts speaking this week at an oil industry conference in South Africa. For the handful of countries that export oil, times are good. But times are tough for everyone else.Continent wide, rising oil prices are […]

Honestly, how come oil prices are jumping?

Also: Isn’t diesel supposed to be cheaper than gasoline? This week, readers are looking for honest answers on the reasons behind the recent spike in oil prices. Some may not like what they hear, but we’ll give it a shot. Let The honest answer is the reason oil prices keep setting records is that demand […]

Leaving Behind the Trucker Hat

…Raised on the Upper East Side by a father who is a foundation executive and a mother who writes about criminal justice, Mr. Shute graduated from Amherst and worked for an antihunger charity. But something nagged at him. To learn about food production, he had volunteered at a farm in Massachusetts. He liked the dirt, […]

Kunstler: A Real Freak Out

Things are getting very weird very fast — and will probably get even weirder, faster, as the train wreck of bad debt meets the Saint Paddy’s Day Parade of bacchanalian excess at the grade-crossing of destiny. The train is carrying America’s financial system, but the engine driving it is peak oil, because declining energy resources […]

For Europe, A Second Look At Biofuels?

Remarks made by European heads of state following the European Council’s annual Spring Summit, which was held last week in Brussels, indicate that the European Commission’s aspirations to boost the use of biofuels in European transport to 10% of total use by 2020 may well be revised to address concerns that increased biofuel production is […]

All About: Food and fossil fuels

According to the FAO, the food and agricultural sector is responsible for more than one third of global greenhouse gas emissions, with “by far the most important” aspect of that sector’s environmental impact, it says, lying in the initial production process — not in transportation. Within that initial stage, the most harmful activities are deforestation […]

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