Monbiot piqued by peak oil planning

George Monbiot last night declared recent environmental developments as cause for great concern. In over twenty years of activism, he said that he had fought against becoming too pessimistic and had always thought that although Government rarely did much to tackle problems directly, he was comforted by the thought that should a What appears to […]

High diesel prices squeeze truckers

Independent drivers have been hit especially hard, and some will be forced out of business. Gary, Ind. – Bob Campbell no longer idles his truck while he sleeps to keep the heat or air conditioning on: The fuel it burns is too valuable. “You either freeze or you burn up,” he says with a shrug. […]

Chinese utilities called to invest in coal mining

It is reported that under the pressure of continuous coal price hikes, power generation enterprises in China are widely expecting the government to raise electricity price through the power coal price pegging mechanism. However, industry insiders say electricity price hike is unlikely in the near future considering the great inflation pressures in the country at […]

China’s oil imports hit record 17.3 million tons in March

China’s oil imports surged to a record 17.3 million tons in March, the government reported Friday, as the country nearly unseated Japan as the world’s second-largest buyer of foreign crude oil. China imported an average of just over four million barrels a day, according to calculations based on data from China’s Customs Administration.China imports nearly […]

‘Sky-high’ oil prices to last until 2020

The world is now in a period of sky-high oil prices that will last a long time—probably until 2020, according to the world’s largest investment bank. Senior analyst Gioavanni Serio in Goldman Sachs, visiting Norway, told participants in an energy seminar that the oil industry moves in 20-year cycles, reports finance industry newswire E24.In the […]

World Oil Supplies Drop by 100,000 Barrels Per Day in a Month – IEA

In March 2008, the world oil supplies dropped by 100,000 barrels to 87.3mln barrels per day, the International Energy Agency (IEA) reported. The drop was caused by reduction of crude oil supply from the OPEC countries, the North Sea and the African non-OPEC countries. The oil supplies from OPEC decreased in March as compared to […]

Koreas, China in talks on energy aid to Pyongyang

Buoyed by reports of progress in the latest nuclear talks between North Korea and the United States, senior diplomats from the two Koreas and China resumed talks Thursday on supplying energy-related equipment to the North under a six-way deal signed last year. The one-day meeting at the South Korean embassy in Beijing, the third of […]

OPEC Reaches Peak Power?

OPEC does not want to reduce output because member countries know their oil is in limited supply and they want to get the maximum price they can muster. I reckon the main issue, however, is that their own energy crisis means they couldn’t even if they wanted to. Peak Power problems are keeping the oil […]

Study: No cosmic rays, cloud link to warming

Findings undermine claim that temperature increases are due to sun Skeptics who argue that global warming is caused by cosmic rays rather than manmade greenhouse gases have been dealt another blow. Some who question the human-induced global warming scenario argue that changes in the intensity of these rays, which are caused by variations in solar […]

The other global crisis: rush to biofuels is driving up price of food

The world’s most powerful finance ministers and central bankers are meeting in Washington tomorrow; but as they preoccupy themselves with the global credit crunch, another crisis, far more grave, is facing the world’s poorest people. A dramatic rise in the worldwide cost of food is provoking riots throughout the Third World where millions more of […]

Bio-Gas Fuelling the Olympic Torch?

As I write these words, I am hearing from friends outside China about the Olympic Torch debacle – the torch getting received as if it were fuelled by human excrement. Here, within China itself, there is little news about it. Will the protests lead to a new world of human rights, with China taking a […]

India’s struggle to feed a billion people

Vijender Vardhman knows a thing or two about rice. From his small family-run store in south Delhi he sells a remarkable 63 varieties, not to mention a multitude of pulses, grains and packaged goods squeezed tightly on to his shelves. Over the past six months the price of India’s most common staple, basmati rice, has […]

Oil glitters as world stampedes to ‘new gold’

A catchy nickname — “the new gold” — has been coined to put in a nutshell the glow of oil on agitated financial markets in the United States. The price of oil long ago stopped measuring solely its value as fuel, says Cambridge Energy Research Associates. The Boston consulting firm, an internationally known industry pillar […]

UN says soaring food prices likely to persist

ROME – Soaring food prices that have sparked unrest across the globe are likely to persist despite an expected increase in production, threatening millions of people worldwide who live on a dollar or less a day, a U.N. agency said Friday. Prices of bread, rice, milk, oil and other basic foodstuffs have sharply increased in […]

Mexican lawmakers camp out to protest oil bill

MEXICO CITY, Mexico (AP) — Leftist lawmakers who seized both chambers of Mexico’s Congress said Friday they will not move until winning a national debate on an oil overhaul bill backed by President Felipe Calderon. Legislators from the Democratic Revolution Party and two minor parties stormed the podiums of both the Senate and the lower […]

NY rejects Long Island Sound LNG terminal

NEW YORK (Reuters) – New York’s governor on Thursday rejected a proposal by energy companies Shell and TransCanada to build a liquefied natural gas platform in Long Island Sound, saying it was “fundamentally wrong” to privatize open water. Rejection of the Broadwater plant was the latest setback for the energy industry’s efforts to build a […]

‘Black gold agriculture’ may revolutionize farming, curb global warming

NEW ORLEANS, April 10, 2008 They also suggest that this so-called

Is OPEC Killing Itself?

…If one thing can be learned from history, it is that crisis spurs innovation: WWI brought us the United Nations, out of the Great Depression came the FDIC, SEC, Social Security and many other forms of government regulation, and the splitting of the atom was a result of the daunting threat of the German military […]

African nations should nationalize oil: Venezuela

DAKAR (Reuters) – African nations should follow Venezuela’s lead and nationalize their energy and mining sectors to secure the resources to fight poverty, Venezuela’s deputy foreign minister for Africa said on Friday. Reinaldo Bolivar, on a visit to Senegal, said his oil-rich South American nation would host a summit of African and South American nations […]

Let Them Eat Ethanol

Wall Street millionaires have spent months mourning their losses from once ridiculously over-valued investments. Yet these same free market cheerleaders remain blissfully unaware of the magnitude of the crisis facing the real victims of the unfolding global meltdown they so enthusiastically enabled. As the Observer noted on April 6, Haitians Riot, Loot Over Food Prices […]

Nigeria Shell facility invaded, 5,000 bpd shut in

LAGOS (Reuters) – Protesting youths in Nigeria’s Niger Delta have invaded and occupied an oil flowstation operated by a Royal Dutch Shell joint venture, a company spokeswoman said on Friday. She said the occupation late on Thursday had shut down 5,000 barrels per day (bpd) of oil production, of which Shell’s share was 30 percent. […]

Russia’s Arctic Oil Could Supply U.S. for 9 Years

(Bloomberg) — Russia’s Arctic region holds as much as 100 billion barrels of oil and natural gas, enough to meet U.S. fuel demand for almost nine years, OAO Lukoil said. … Russia, the biggest supplier of oil after Saudi Arabia, is moving into the remote, freezing waters of the Arctic Ocean as older wells in […]

Australia: Petrol at a premium for holidays

The NRMA is accusing oil companies of stockpiling premium petrol as Canberra prices look set to climb above $1.50 a litre just in time for the school holidays. President Alan Evans said yesterday the NRMA was concerned about premium unleaded pumps being closed by stations on Tuesdays.“We have had a supposed shortage of premium unleaded […]

Filthy lucre: Nigeria’s rubbish scavengers in pictures

….(4) Idris the sorter Eighteen-year-old Idris sorts glass jars from other junk. He used to be a scavenger until the man who runs this part of the market trusted him to sort the jars, metal and other refuse and collect the money from people who came to buy it. This jar will fetch 10 Naira […]

UK: Energy firms agree fuel poverty initiative

Up to 100,000 households could be lifted out of fuel poverty by an extra The agreement follows Chancellor Alistair Darling’s announcement in the Budget that the Government would, as a priority, secure increased support for households and means Britain’s 6 energy suppliers’ collective annual spend on social assistance will triple to

Harnessing Biology, and Avoiding Oil, for Chemical Goods

THE next time you stop at a gas station, wincing at the $3.50-a-gallon price and bemoaning society In recent years, this unsettling fact has motivated academic researchers and corporations to find ways to make bulk chemicals from renewable sources like corn and switchgrass. The effort to tap biomass for chemicals runs parallel to the higher-stakes […]

China’s oil imports hit record in March

SHANGHAI China imports nearly half of the oil it uses. The United States, which imports about 10 million barrels of oil a day, remains by far the biggest consumer. Japan imported about 4.4 million barrels of oil a day in February, based on data from the country’s Natural Resources and Energy Agency. China’s oil imports […]

The Record Falls – January 2008 is the New World Record for Crude Oil Production

The EIAThe Oil Drum

IEA cuts world oil demand growth by most in 7 years

LONDON (Reuters) – World oil demand will rise much less than expected in 2008 because of slower economic growth in the United States and elsewhere, the International Energy Agency (IEA) said on Friday. The cut to demand growth is the IEA’s biggest since 2001 and follows the release of lower economic growth forecasts by the […]

‘Peak oil’ crisis, and drastic change, coming our way

In the 1990s the Vancouver Board of Trade’s debt clock travelled the nation, delivering a doom and gloom message about Canada’s $583-billion debtload. The public’s consciousness was raised, allowing politicians to impose change through hardship. Today, the debt is under control and attention has shifted to climate change. In the U.S., Al Gore just launched […]

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