Life without transport by oil is closer than we think

Minivans, global air travel and the transport of goods by diesel truck soon will become the stuff of yesterday as the world adapts to depleting oil reserves. The planet, posits a new book by two Canadian academics, is on the cusp of a revolution in transportation that will steer people away from petroleum-fuelled vehicles and […]

Fight against global warming need not dent growth: IMF

WASHINGTON (AFP) – The International Monetary Fund on Thursday said it was possible to fight global warming without negatively impacting economic growth. “Climate change is a potentially catastrophic global externality and one of the world’s greatest collective action problems,” the IMF said in releasing analytical chapters of its twice-yearly World Economic Outlook. To curb global […]

UK: TOWN GEARS UP FOR TIME WHEN OIL HAS HAD ITS DAY

We are just getting used to climate change and trying to do our bit to reduce, reuse and recycle, when it seems there’s another concept to take on board, namely peak oil.Peak oil is the point in time when the maximum rate of oil production is reached, globally. After that, the rate of production starts […]

ConocoPhillips sees refining margins squeezed in first quarter

HOUSTON “The prices for these products did not increase in proportion to the cost of the feedstocks used to produce them,” the company said in a release Thursday. Margins were also hurt by unplanned downtime at the company’s U.K. refinery and its U.S. Gulf Coast refineries. AP

Resource-hungry India seeks to increase its economic ties with Africa

KAMPALA, Uganda: From scouting for diamonds in the deserts of Botswana to signing oil deals with Sudan and sending peacekeepers to volatile Congo, India is busy trying to match China’s ever-growing clout in mineral-rich Africa and secure energy resources for its booming economy. Trading on its relative physical proximity to Africa and a history of […]

Chevron could lose billions over Ecuador suit

A court-appointed expert in Ecuador has recommended that Chevron Corp. pay $7 billion to $16 billion if it loses a marathon lawsuit over oil-field contamination in the Amazon rain forest. The estimate, contained in a report filed Tuesday in an Ecuadoran court, marks the latest twist in a bitterly fought case that has drawn international […]

Black Swans, White Knuckles

… In the deeper background of all this is the all-important oil story that nobody in politics or the media wants to pay attention to. Notice that in the fervid unloading of assets this past week, as investors dumped their positions in the commodities markets, the price of oil remained stubbornly above $100-a-barrel. Peak oil […]

DOE faulted on pick of law firm for nuclear waste dump project

WASHINGTON: The Energy Department did not fully document its rationale for awarding a $100 million contract to a law firm with a conflict of interest for work on a national nuclear waste dump in Nevada, the agency’s inspector general said Thursday. “We found the absence of such documentation disturbing,” said the investigator’s report. However, the […]

Ratepayers could pay billions for wind-power lines

AUSTIN Depending on the amount of wind power expected, the proposed plans range from $2.95 billion to $6.38 billion. Texas already leads the nation in wind power, with almost 5,000 megawatts of existing generation. More transmission capacity would be needed to move the power from rural West Texas to more populous areas of the state. […]

Mexico’s Pemex fears ‘crippled’ oil reform

MEXICO CITY, April 3 (Reuters) – A planned oil reform in Mexico will be “crippled” if opposition lawmakers water it down to exclude opening up deep sea oil to foreign partners, a top executive at state-run oil monopoly Pemex said on Thursday. Exploration and Production chief Carlos Morales said Pemex’s first deepwater exploration wells had […]

Gas prices rise to new national record

NEW YORK – Gasoline prices extended their record run at the pump Thursday, but took a breather in futures trading as investors collected profits from the previous session’s huge advance. Crude oil futures, meanwhile, fluctuated as some investors bought on expectations that the dollar will continue its protracted decline while others sold as the greenback […]

Bumpy Crude Oil Plateau in the Rear View Mirror

We have included a few very rough estimates of production for some of the increasing countries for the future. It looks as though there still will be countries with increases in 2008. Our rough estimates of increases for the countries shown total only about 1.0 to 1.5 million barrels a day. This is fairly similar […]

`Oil prices won`t fall below $100 a barrel`

Crude oil prices continue to spiral upwards at the slightest inkling of a supply disruption, with most industry experts predicting that prices will only move higher from the current price levels of around $105 per barrel. India I have strong reasons to believe that prices are not likely to come down below $100 per barrel. […]

Australian Oil, Gas Exploration Spending Jumped 70%

(Bloomberg) — Australian spending on offshore oil and gas exploration jumped 70 percent last year to a record because of spiraling costs and equipment shortages, the national petroleum industry lobby group said. Investment in the hunt for oil and gas in waters around Australia surged to A$2.14 billion ($2 billion), the Australian Petroleum Production and […]

The Beginning Of The End For Coal

With concerns about climate change mounting, the era of coal-fired electricity generation in the United States may be coming to a close. In early 2007, a U.S. Department of Energy report listed 151 coal-fired power plants in the planning stages in the United States. But during 2007, 59 proposed plants were either refused licenses by […]

Are we too connected?

Remember those old gas hot-water boilers with a constantly burning pilot light? My house used to have one, which was not only wasteful, but a pain because the pilot light kept going out. A new boiler with automatic ignition seemed like a huge improvement – until we had a series of power cuts one winter […]

Melting ice caps may trigger more volcanic eruptions

A warmer world could be a more explosive one. Global warming is having a much more profound effect than just melting ice caps Carolina Pagli of the University of Leeds, UK, and Freysteinn Sigmundsson of the University of Iceland have calculated the effects of the melting on the crust and magma underneath. They say that, […]

Peak Oil at the State House (Massachusetts)

The Chairman of the Committee on the Environment, Representative Frank Smizik, hosted a meeting on Peak Oil at the Massachusetts State House on Monday, March 31. The hearing room was standing room only and there were Reps and Sens from Belmont, Boston, Somerville, Falmouth, and Arlington. This was in preparation for the establishment of a […]

‘No Sun link’ to climate change

Scientists have produced further compelling evidence showing that modern-day climate change is not caused by changes in the Sun’s activity. The research contradicts a favoured theory of climate “sceptics”, that changes in cosmic rays coming to Earth determine cloudiness and temperature. The idea is that variations in solar activity affect cosmic ray intensity. But Lancaster […]

Traders who hoard Philippine rice face life imprisonment, government warns

MANILA, Philippines (AP) – Traders found hoarding rice while the country struggles to maintain sufficient stocks of its staple grain could be charged with economic sabotage, a crime that carries a life sentence, the justice secretary said Thursday. Government agents have been raiding warehouses in a hunt for unscrupulous traders and warehouse owners holding on […]

It’s not a Recession or Depression that’s coming, it’s a Stagflationary Abyssal

Abyssal Some people will look at my list and wonder why I don’t talk about unemployment or the price of stocks or other indicators but those items are all symptoms of issues with the five primary items I listed. When corporate income is down affecting corporate health this affects stock prices, causes corporations to reduce […]

Net energy and Jevons’ Paradox

As last week One conclusion worth drawing from what I

Could oil hit $160 a barrel

The oil price could hit $160 a barrel as soon as next week. At least, that

High fuel costs hitting hard for businesses, agencies

CLINTON, IL — In the fall 2005, Ron Savage, owner of H&M Trucking in Clinton, spent $20,000 every three weeks on diesel fuel that cost $1.95 a gallon. | He testified at a state hearing, encouraging lawmakers to provide relief for an industry that had seen diesel costs rise by 40 cents in six months. […]

Gas prices will rise until concrete changes are made

I remember when gas was 89 cents per gallon no matter where you went. Of course, I was not driving in the late 1980s and early 1990s, but I can still see the Exxon signs 50 or so yards away from those Tiger Marts doted across northern Maryland landscapes. Sadly, I also remember getting gas […]

Campbell: Petroleum Man will be virtually extinct soon

By Colin J. Campbell Oil was formed in the geological past under well understood processes. In fact, the bulk of current production comes from just two epochs of extreme global warming, 90 and 150 million years ago, when algae proliferated in the warm sunlit waters, and the organic remains were preserved in the stagnant depths […]

The Peak Oil Crisis: The Transition

While waiting for the price of gasoline to get so high that we can Among the handful of people that a) know we are on the verge of a very big problem, and b) ponder about it in print or on the internet, there are a wide range of opinions as to what the future […]

Record oil prices spark Venezuela ”windfall” tax

CARACAS (Reuters) – Venezuela is preparing a “windfall” oil tax to boost the OPEC nation’s revenues from record crude prices, only months after leftist President Hugo Chavez’s nationalization crusade forced out two of the world’s largest energy companies. The move extends Chavez’s broad campaign to boost state control over oil operations that led to legal […]

Dell Powers Headquarters With Green Energy

Dell is now powering 100 percent of its 2.1 million square-foot global headquarters campus with 100 percent green power, the latest step in meeting the company’s 2008 carbon neutral commitment. Dell is using all of the power generated from Waste Management’s Austin Community Landfill gas-to-energy plant, meeting 40 percent of Dell headquarters’ campus power needs. […]

Arabs without oil hard hit by food price spiral

BEIRUT, April 3 (Reuters) – While Gulf Arab oil producers reap windfall earnings, their poorer cousins elsewhere in the Arab world are struggling with soaring energy and food bills. Inflation has surged in Gulf countries, fuelled partly by lavish spending of record oil and gas revenues. This is also spurring demand for everything from housing […]

« Previous Page — Next Page »

LATEST NEWS HEADLINES

• Why the IEA is Wrong About Peak Oil Demand
• Did we inadvertently speed global warming?  
• Venezuela’s Oil Monopoly Eases
• Why Germany is Choosing Natural Gas Over Nuclear Power
• U.S. coal-fired electricity generation decreased in 2022 and 2023

• America Cracks Down on Methane Emissions from Oil and Gas Facilities
• Meet America’s Newest Oil Trader Extraordinaire: Joe Biden
• Is It Time To Refill America’s Strategic Petroleum Reserve?
• Oil prices set to end year 10% lower as demand concerns snap winning streak
• What’s Driving America’s New Oil and Gas Boom?
• China’s peak oil demand bombshell eviscerates Danielle Smith’s energy strategy