Indians pays for fuel-price imbroglio

The Indian government’s decision to raise the retail prices of petrol and diesel marginally by 2 rupees (5.5 US cents) and 1 rupee a liter in February, did little to untangle India’s oil price imbroglio. The country’s consumers have to pay prices that, even subsidized, are among the highest in Asia for the fuel yet […]

NZ can grow all its own biofuels, says study

Purpose-grown forests to produce biofuels could meet all New Zealand’s transport fuel requirements within 40 years, according to a study by the Crown research institute Scion. Chief executive Tom Richardson told the Herald yesterday that New Zealand was one of just a handful of places identified worldwide that was well placed to become carbon-neutral for […]

Climate Change Could Turn Ireland’s Green To Brown

The wearin’ of the brown? Forty shades of beige? – Climate change could turn Ireland’s legendary emerald landscape a dusty tan, with profound effects on its society and culture, a new study released in time for St. Patrick’s Day reported.Entitled “Changing Shades of Green,” the report by the Irish American Climate Project twins science gleaned […]

Brazil Flex-Fuel Cars Help Tame Gasoline Prices

A massive new fleet of flex-fuel cars in Brazil has prevented state oil company Petrobras from charging more for gasoline despite record world oil prices, the company said Friday. Petrobras downstream director, Paulo Roberto Costa, said consumers in Latin America’s largest country would stop buying gasoline and switch to cheaper ethanol if the price of […]

Portugal leads rush into green energy

Broad fields of giant solar panels as big as houses tilt toward the sun in this torrid patch of the Iberian peninsula. Arranged in tidy rows, like the vineyards and olive groves that quilt the typical Portuguese landscape, the panels belong to a solar power plant that comes on line this month and is due […]

Chad and crude prices

One of the more interesting side notes in crude’s run-up to its current exorbitant levels is the extent to which the market has been influenced by incidents in countries that, in previous years, wouldn’t have possibly affected the global oil futures price. One of those countries is Chad, which suffered an attempted coup last month […]

Cheap Gas is Gone Forever; Can We Adjust to Reality?

…American life today is structured on a foundation of cheap transportation fuel. From where we live, to how food is put on the table, even to how retailers keep their shelves stocked, everything was built on the fantasy that fuel would remain permanently cheap. We did this while exporting the American Dream and ignoring the […]

US slams Swiss-Iranian gas deal for sending ‘wrong message’

GENEVA (AFP) – The United States said a deal signed on Monday between Switzerland and Iran’s state gas firm sends “precisely the wrong message” amid the continued crisis over Tehran’s nuclear programme. “We have conveyed to the Swiss that major new oil and gas deals with Iran send precisely the wrong message at a time […]

Iran Eases Gas Ration, but at a Cost

TEHRAN, Iran — Iran announced Monday it would ease gas rationing for the next month, allowing people to buy gasoline above the imposed limit during a major holiday, but at a far higher price. The government introduced rationing in June, trying to reduce large subsidies it spends on gas. The move has drawn widespread anger […]

Cheney, visiting Iraq, will push access for oil firms

BAGHDAD: Vice President Dick Cheney made an unannounced trip Monday to Baghdad, where he plans to push Iraqi political leaders toward opening the country’s vast oil fields to international companies, a senior Bush administration official said. Cheney, who arrived in the Iraqi capital with his wife and daughter in the morning, is to meet with […]

Oil price will shrug off U.S. woes: Goldman

LONDON (Reuters) – Oil’s long-term supply constraints should make any fall in prices due to a recession in the United States only temporary, Giovanni Serio, an oil analyst at Goldman Sachs told Reuters. Oil tumbled on Monday as investors took profits in financial markets unnerved by the bailout of U.S. investment bank Bear Stearns over […]

Suburban flight?

Could high oil prices shut down suburbia? ASTRONOMICAL oil prices are causing problems for all Ameri- cans–from higher gas and heating-oil costs to higher food bills. Citizens in suburban locales are more likely to feel the pinch, as their very existence requires motoring. But an answer lies just down the road: cities. If any good […]

Gulf currencies may drop dollar peg

Kuwait’s decision to stop pegging its currency to the dollar last year hasn’t completely tamed inflation, but experts say many of its oil-rich neighbors will follow, desperate to fight inflation. Oil is priced in dollars on the world market, but many Gulf countries rely on government-subsidized imports priced in euros and other currencies that have […]

Chile seen facing electricity shortages – Fitch

LONDON (Thomson Financial) – Fitch said there is a likelihood of energy shortages in Chile and the electricity prices will remain on an upward trend for the next couple of years due to rising energy demand, high diesel prices, natural gas restrictions, and initial delay in new projects. Chile’s current water deficit, combined with further […]

The buck stops where?

Three key factors are driving up the price of oil and its proxy, gold. First, the price we are paying for gold is directly related to the price we are paying for oil, and gold’s fast-moving price reflects a rapidly deteriorating situation in the petroleum industry. Second, when you are in a bull market for […]

Shell CEO says no problem with oil supplies

LONDON, March 17 (Reuters) – Royal Dutch Shell Plc’s Chief Executive said on Monday that there is no major problem with world oil supply, making it difficult to explain why prices have hit an all-time peak. Oil hit a record high of $111.80 a barrel earlier on Monday, the latest leg of a rally that […]

South Africa: Cable theft hurting delivery

In suburbs and industrial areas all around the city, electricity officials are battling to gain ground against a group of thieves who are fleecing the city of 3-5km of copper cables per day. Sharing the modus operandi of these individuals, Ivan Worthington an official in the department told of a band of criminals who execute […]

Do we have too much energy?

So much talk these days centers around whether we have will have enough energy to power the world economy. The pessimists respond, “Not this world economy at this level of activity.” The optimists, on the other hand, say not to worry. We have plenty of fossil fuels for the time being and new, clever technologies […]

Matt Simmons: Peak Oil

The Key Investment Questions For 2008 (And Beyond?) ■ How real and imminent is Peak Oil? ■ Can world economy survive $-triple digit oil? ■ How real is These questions might be most serious of 21st Century. Simmons & Co. (PDF)

Big Chinese Oil Firms Squeezed By High Crude Costs

HONG KONG – China Petroleum & Chemical Corp. and PetroChina, the two largest oil firms in China, were under a cloud on Monday as U.S. crude oil futures climbed above $111 a barrel, directly endangering their profitability. The crude oil future contract for April delivery rose to $111.80 a barrel in electronic trading on the […]

Investors bet on $100 a barrel oil until 2016

Crude oil futures prices for delivery until 2016 have surged above $100 a barrel as investors bet that oil costs will remain high in the long term even if they weaken in the short because the impact of the US economic slowdown. Every futures contract until December 2016 finished last week above $100 a barrel […]

Sleepily eyeing a peak in world oil output

Some analysts cite a lack of preparation for a looming economic event. …Since tanks of crude are full to brimming, many traders in oil markets suspect that $110 could be the top price for now. But a growing number of oil-market analysts reckon the supply of oil to the world economy has reached a peak […]

Sydney must prepare now for peak oil

Sydneysiders must take serious steps to reduce their vehicle use before future global oil shortages hit, a peak oil study group says. The Australian Association for the Study of Peak Oil (ASPO Australia) says cities all around the country should be preparing now for the inevitable shortages as global oil production heads into decline in […]

Oil prices jump to new record peak

NEW YORK – Oil prices jumped to an all-time trading high of almost $112 a barrel Monday as the tumbling U.S. dollar and plunging stock markets prompted investors to seek shelter in commodities. Investors fled the dollar after a surprise move Sunday by the U.S. Federal Reserve to provide cash to financially squeezed Wall Street […]

Government figures hide scale of CO2 emissions, says report

Britain’s climate change emissions may be 12% higher than officially stated, according to a National Audit Office investigation which has strongly criticised the government for using two different carbon accounting systems. There is “insufficient consistency and coordination” in the government’s approach, the NAO said. Using one system, which the government presents to the UN and […]

Shielding flag carriers ‘is killing airlines’

Governments shielding their national flag carriers are “killing” the aviation industry, the head of the International Air Transport Association (Iata) has warned. Giovanni Bisignani, chief executive of Iata, warned that protectionist attitudes towards flag carriers were exacerbating the downturn. Soaring oil prices and slowing economies are causing concern for airlines, which raised capacity by buying […]

Is peak oil theory only for fascists?

Which British political party has the following observations about peak oil on its website? “One person’s apocalyptic view could be interpreted as an opportunity by another. Britons are resourceful, innovative and can be pretty bloody minded in a crisis. We can knuckle down, roll up our sleeves and get on with life even without all […]

Oil Costs Affect Road Paving and Maintenance

BINGHAM TWP. – Traversed more by cracks than cars, Taft Road just south of St. Johns is falling apart. It has deteriorated so much that Clinton County officials are on the verge of letting nature have her way. They would grind down what is left of Taft into bits of stone and leave it – […]

Analysts: govt funds heat up oil prices

WASHINGTON – As oil prices charge past $110 a barrel, analysts say government-run investment funds from oil-rich nations may be adding speculative heat to an already red-hot market. By placing bets in futures markets, these sovereign-wealth funds are no different than hedge funds, pension funds and other institutional investors, with one exception: at the same […]

Why Is Everyone Lying About Energy?

(AXcess News) S. Orange, NJ – In early March, President Bush, addressing an International Renewable Energy Conference, was widely quoted saying that the United States has to “get off oil.” Earlier he had said that America was “addicted” to oil. These are such huge lies one wonders why he is telling them, unless perhaps he […]

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