Calderon Says Mexico Must Act Now to Stop Decline in Oil Output

(Bloomberg) — President Felipe Calderon said Mexico must move urgently to reverse declines in oil output and reserves and proposed allowing foreign and private companies to refine, produce and transport crude. “We have to act now because we’re running out of time and out of oil,” Calderon said yesterday during a 13-minute, nationally televised speech […]

Gaza’s agriculture on the verge of collapse

…Deputy-minister of agriculture, Ibrahim Al-Qedra, said in a statement faxed to the press that the fishing industry alone needs 20,000 liters of gasoline and 6,000 liters of Benzene, noting that the fishing season is focused on April and May Al-Qedra stated that the lack of fuel has led to a complete stoppage of all agricultural […]

Will the future look like the Jetsons or Ingalls?

“My father rode a camel. I drive a car. My son flies a plane. His son will ride a camel.” That’s an old – well, actually current – Saudi saying related by Rochester resident Norm Erickson during a talk in Spring Valley recently. Erickson, a retired IBM engineer, uses various calculations and models to predict […]

Research on Bakken Formation’s Oil Reserves Nearly Completed

The U.S. Geological Survey is nearing completion of a research project that will attempt to quantify how much oil is contained in the Bakken shales formation and how much of it is recoverable.

Price estimated the Bakken formation may hold as many as 900 billion barrels of oil. But Price died in 2000 before the study could be published or peer reviewed.

Other estimates of the Bakken formation’s oil reserves have pegged the number at closer to 200 billion or 300 billion barrels.

RedOrbit

Chile Power Shortage May Disrupt Mines, Spur Copper to Record

(Bloomberg) — An energy shortage in Chile may do for copper what cuts in electricity supplies did for platinum in South Africa — spark a record-setting rally in prices. Reduced natural-gas imports from Argentina and a drought that cut hydropower output may force Chile, the world’s biggest copper producer, to ration electricity to mines owned […]

Low-carbon living takes off in the US

Cohousing offers a low-carbon lifestyle, and developers are poised for a market that could soon burgeon in the US, according to a new study. Until now, cohousing has occupied a niche market in the US, but the paper by Dr Jo Williams at UCL (University College London) suggests the situation is changing. Cohousing not only […]

Oil Services Exec Cites Weak Investment

NEW ORLEANS – Efforts to boost the supply of oil in the face of expanding world demand are being hampered by insufficient investment, despite surging crude prices, the head of a major petroleum services company said Monday. The industry dedicated to searching and drilling for oil is having to deal with aggressive state oil companies, […]

Food price rises threaten global security – UN

Hunger riots will destabilise weak governments, says senior official Rising food prices could spark worldwide unrest and threaten political stability, the UN’s top humanitarian official warned yesterday after two days of rioting in Egypt over the doubling of prices of basic foods in a year and protests in other parts of the world. Sir John […]

CO2 map zooms in on emissions

US scientists have unveiled a new, high-resolution interactive map which tracks patterns of CO2 emissions coming from fossil fuels burned daily across the country. The maps and system, called Vulcan, show CO2 emissions in more than 100 times greater detail than was previously available. Until now, scientists say, data on carbon dioxide emissions was reported […]

Spain’s worst drought for a generation leaves water, comradeship in short supply

Spain is suffering its worst drought in more than four decades, pitting the country’s regions against each other in a fierce battle over water resources. There has been 40 per cent less rain than usual since October 1 across the nation as a whole, according to the Meteorology Institute, although in some regions the impact […]

The real reason why oil is so expensive

OPEC pumped an average 32.35m barrels a day in March, down 85,000 barrels from February. Production by the 12 members with quotas (all except Iraq) fell 30,000 barrels to 29.97m barrels a day. This is the first time output has fallen in seven months. On Saturday, OPEC “Oil supply to the market is enough and […]

Oasis budget airline stops flying

Hundreds of passengers have been left stranded after the Hong Kong airline Oasis stopped flying and applied to go into liquidation. …Soaring fuel bills have forced other airlines out of business recently, including the Hawaiian airline Aloha and the business class airline Maxjet. Oasis was launched 18 months ago by husband-and-wife team Raymond and Priscilla […]

Lehman says oil will settle at $80

Most investment banks have forecast the oil price will continue to rise but Lehman Brothers has opted to stick to its view prices will weaken Lehman Brothers

The de-flattening of the world

…Of all the new barriers to free trade, the most damaging are probably export restrictions, as on rice in Egypt, India and Vietnam, or export tariffs, as in Argentina. Rice export restrictions have had the effect of doubling the world market price of rice in three months, to the immense suffering of the Third World’s […]

Privatization of Russia’s electricity company enters home stretch

MOSCOW: A plan to privatize the world’s largest electricity company is entering the home stretch, successfully it seems, in spite of its Rube Goldberg-like complexity and the general hostility toward privatization in Russia today. The plan’s architects say they have raised $33.9 billion by creating a simple and obvious investment opportunity – the chance to […]

The Lost Decade

Back in 1998, when I wrote the above article for SciAm, I was feeling optimistic about the prospects for production growth in the oil industry. The drop-header read: First, when the oil price collapsed from $25 to $12 per barrel (in 2005 dollars) at the end of the 1990

Marathon’s East Brae Field Remains Shut After Technical Fault

(Bloomberg) — Marathon Oil Corp. said its North Sea East Brae natural-gas and condensate field remains closed after a power failure yesterday halted work on three platforms. “East Brae shut down this morning due to a technical fault,” Sheena Wallace, a spokeswoman for the Houston-based company, said today by telephone from Aberdeen, Scotland. The Brae […]

Oil trader faces criminal charges

Former NYMEX director accused of cheating clients, 6 others being arrested. NEW YORK (CNNMoney.com) — New York Mercantile Exchange energy trader Steven Karvellas, a former NYMEX director, is pleading guilty Tuesday to cheating clients. Six other traders are also being arrested for allegedly engaging in similar schemes on the NYMEX floor, according to the Manhattan […]

ConocoPhillips, BP forge ahead with Alaska pipeline

ConocoPhillips has joined forces with BP to move forward on a plan to build a massive natural gas pipeline stretching from Alaska’s North Slope to Alberta in what would be the largest private sector construction project ever in North America, the companies said today. The companies aim to spend $600 million to hold an open […]

GM Volt Cost Estimate Up

We really aren’t ready for Peak Oil and we aren’t going to be ready in a few years. GM’s pluggable electric hybrid Chevy Volt was originally projected to cost $30,000. GM’s latest estimate for the Volt’s cost? $48,000. Figuring out how to make wipers, a stereo and other accessories that don’t kill the Volt’s range […]

Gasoline prices could peak at $4 this summer

NEW YORK – Retail gas prices could climb as high as $4 a gallon this summer, but prices at such lofty levels will make many Americans think twice about hitting the road this summer, the Energy Department said Tuesday. High prices and a weak economy are expected to cut demand for gasoline by about 0.4 […]

Pakistan: Gas leak kills two at nuclear plant

TWO workers were killed today after a gas leakage at a Pakistani nuclear facility, the Pakistan Atomic Energy Commission said. The accident took place at the Khushab heavy water plant, which had been shut down for annual maintenance, the commission said. The plant ,was immediately evacuated and there was no threat to the public, the […]

Climate change confirmed but global warming is cancelled

In December last year, at the UN conference in Bali, I heard Viscount Monckton present a paper prepared by himself, the Australian Dr David Evans and our own Dr Vincent Gray (who were at Bali, too) that showed while the IPCC models predict that greenhouse gases would produce an extensive “hot spot” in the upper […]

Farmers adjust to record corn prices

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Iran begins installing 6,000 new centrifuges

Move is a show of defiance to U.S. and allies, who seek end to nuclear work TEHRAN, Iran – Iran has begun installing 6,000 new centrifuges at its uranium enrichment plant in Natanz, state television quoted President Mahmoud Ahmadinejad as saying Tuesday. Iran already has about 3,000 centrifuges operating in Natanz, and the new announcement […]

Rising inflation in Asia stings in the West

BAT TRANG, Vietnam: The free ride is ending. For decades, Westerners have imported goods produced ever more inexpensively from a succession of low-wage countries – first Japan and Korea, then China, and now increasingly places like Vietnam and India. But mounting inflation in the developing world, especially Asia, is threatening that arrangement. Not just in […]

Jewish group says Swiss-Iran gas deal finances terrorism

GENEVA: A major U.S. Jewish organization on Tuesday stepped up opposition to a multibillion-dollar ( -euro) Swiss-Iranian natural gas deal by claiming it makes Switzerland “the world’s newest financier of terrorism.” “When you finance a terrorist state, you finance terrorism,” said the New York-based Anti-Defamation League in full-page advertisements in major Swiss newspapers and in […]

Tensions rise in energy rich Central Asia

Analysts say to expect more energy deals – and potential trouble – in the quickly militarizing region. NEW YORK (CNNMoney.com) — It’s got all the makings of an international geopolitical thriller: World powers move their armies into a violent, remote, and politically fragile region brimming with valuable oil and natural gas resources; except it’s not […]

There

HUGHESVILLE, Pa.

Charlie Hall’s EROI on the Web part 2 of 5

This is the second of a five part series on net energy research resulting from Professor Charles Hall of the SUNY College of Environmental Science and Forestry and his students during last semesters “EROI Sweatshop”. While it is still in draft form, it is hoped (with some help from TOD readers) to be refined and […]

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