Oil’s Flight Grounds AirTran

Although AirTran hastened to assure investors that the quarter’s loss was just a bump caused by rising fuel prices, the company’s decision to issues shares and stall expansion plans indicates there’s more than a little turbulence ahead for the airline. Despite efforts to assure investors that AirTran wasn’t set to land in bankruptcy like recent […]

UK: A permanently high oil price might not be a bad thing

Oil is in blow-off territory and a reaction in the price is inevitable, probably quite soon. But that does not mean that we will return to cheap oil in our lifetimes. All right, take that with a pinch of salt. Hardly anyone a year ago successfully predicted the rise in the oil price to $120 […]

UK: Soaring petrol prices, fuel rationing introduced to prevent garage drought

Petrol prices around Britain are continuing to soar after talks aimed at averting a strike by workers at the giant Grangemouth oil refinery broke down last night. A two-day strike by up to 1,200 workers at the site in Scotland will now go ahead on Sunday and Monday, threatening fuel supplies. More than a quarter […]

EasyJet Exec Predicts Cull Of Budget Airlines

Oil prices well above USD$100 a barrel will drive most of Europe’s low-cost airlines out of business, the head of easyJet’s French subsidiary said on Wednesday. The stark warning of a cull of low-cost airlines came as the British budget airline’s shares fell more than 4 percent after another increase in oil prices towards USD$120 […]

Brazil Oil Finds May End Reliance on Middle East, Zeihan Says

(Bloomberg) — Brazil’s discoveries of what may be two of the world’s three biggest oil finds in the past 30 years could help end the Western Hemisphere’s reliance on Middle East crude, Strategic Forecasting Inc. said. Saudi Arabia’s influence as the biggest oil exporter would wane if the fields are as big as advertised, and […]

Myth of peak oil debunked

The head of Oklahoma First predictions that the United States had reached its ultimate production of oil initially surfaced after World War I, he said, when government officials predicted the country had found all the oil it would. Throughout the 1900s, the prediction periodically resurfaced, he observed.

Oil

The world Instead, state-owned oil companies in countries ranging from Russia to Venezuela now control more than 80 per cent of reserves, and heightened nationalism from the owner governments often blocks the majors from exploiting res

Soaring international crude prices are driven by a range of factors including speculation and depreciation of the US dollar, not mainly by China demand, Saudi Aramco regional vice president Mohammed al-Mahdi said today. “It’s a mistake to attribute either the recent run-up in crude prices or continued market volatility solely to rising Chinese demand,” Al-Madi, […]

Saudi Aramco Aims to Double Crude Oil Supply to China By 2010

(Bloomberg) — Saudi Aramco, the world’s biggest state oil company, aims to double its crude oil supply to China by 2010 from about 500,000 barrels a day last year, an official from unit Saudi Petroleum Ltd. said. Saudi Aramco has signed an agreement with China Petrochemical Corp., the nation’s biggest refiner, to sell 1 million […]

Gazprom’s New Focus On Production

Russian gas export monopoly Gazprom plans to increase investment in gas production and transportation substantially while cutting spending on acquisitions. This will reassure European customers concerned about its capacity to meet export commitments. However, Gazprom’s capacity to deliver will be severely tested as it tackles an array of ambitious projects. Gazprom has been under fire […]

Grangemouth: on the brink…

The BBC report wednesday evening that talks have broken down between Ineos, the operators of the Grangemouth oil refinery in Scotland and Unite, the trade union representing workers at the refinery who are threatening to strike Sunday and Monday over a dispute about adjustments to their pension scheme. Grangemouth lies at the end of the […]

Credit crunch wasn’t bad enough, the oil price is now piling on the agony

No wonder the British Airways share price fell to a new four-year low yesterday. Less than two months ago, the finance director Keith Williams warned that his operating profits would be completely wiped out by an oil price of just under $120 a barrel, and that, if sustained, such a price would lead to fundamental […]

Airline flies slower to cut costs

Belgium’s Brussels Airlines has announced it is slowing speeds and reducing weight on some of its aircraft in order to reduce fuel costs. The airline said slowing its planes by about 10km/h would cut its annual fuel bill by 1m euros ($1.6m; The measures will also reduce the airline’s emissions of global warming greenhouse gases, […]

The end of cheap clothes is near

Food prices have shot up in response to a surge in crop prices. Now consumers should get ready for clothes prices to follow suit. Garment makers are seeing demand shrink as consumers in the US and Europe are cutting back on spending. US cotton consumption is set to fall 6.5% from last year to less […]

Surge in oil prices prompts warnings of global recession

The price of oil has surged to a new record above $119 per barrel. Given the spate of “Record Oil Price!” stories that have filled newspapers in recent months, investors might be inclined to dismiss the latest threshold crossed The inexorable rise of the cost of the black stuff

UK: Fuel poverty summit branded a disaster

One of Britain’s biggest charities has condemned today’s energy industry summit as a “disaster” for the 4.5m households who now find themselves living in fuel poverty. Mervyn Kohler, special adviser for Help the Aged, described the lack of concrete measures to come out of the summit as a slap in the face to the poorest […]

Scientists say accumulation of greenhouse gases accelerating

WASHINGTON – Major greenhouse gases in the air are accumulating faster than in the past despite efforts to curtail their growth. Carbon dioxide concentration in the air increased by 2.4 parts per million last year, the National Oceanic and Atmospheric Administration reported Wednesday, and methane concentrations also rose rapidly. Concern has grown in recent years […]

Spectre of food rationing hits US

The spectre of food rationing arose in America today as retailers began imposing limits on rice and flour sales following bulk purchases by customers alarmed by rocketing global prices for staple foods. Wal-Mart’s cash-and-carry division, Sam’s Club, announced that it would only sell a maximum of four bags of rice per person to prevent supplies […]

Refinery strike talks break down

A strike which could close down Scotland’s only oil refinery will go ahead after talks between the Unite union and plant bosses broke down. Operators Ineos and the union held two days of talks at conciliation service Acas in a bid to halt the strike by workers at the Grangemouth plant. Up to 1,200 workers […]

Mexico imports more gasoline as oil production drops

LOS ANGELES, Apr. 22 — Mexico’s gasoline imports rose to 360,700 b/d in March, the highest level since November 2007. This coincided with a 7.8% decline in the country’s oil production in this year’s first quarter to 2.91 million b/d, largely due to declining output from traditional oil fields. State-owned Petroleos Mexicanos said March gasoline […]

There is plenty of Oil

Doom-laden forecasts that world oil supplies are poised to fall off the edge of a cliff are wide of the mark, according to leading oil industry experts who gave warning that human factors, not geology, drive the oil market. A landmark study of more than 800 oilfields by Cambridge Energy Research Associates (Cera) has concluded […]

China down to 12 days worth of coal – report

CHINA only has enough coal for 12 days of consumption, three days less than a month ago, state media reported Wednesday, sounding the alarm bells over the nation’s most important source of energy. In certain parts of China, such as densely populated Hebei province in the north, reserves are down to less than a week, […]

Green Acres II: When Neighbors Become Farmers

Suburban Arugula Is Organic and Fresh, but About That Manure… BOULDER, Colo. — When suburbanites look out their front doors, a lot of them want to see a lush green lawn. Kipp Nash wants to see vegetables, and not all of his neighbors are thrilled. “I’d rather see green grass” than brown dirt patches, says […]

Limits to growth and related stuff

…As a result, the study was a classic case of garbage-in-garbage-out: Forrester didn Much of what I did back then was look for estimates of the cost of alternative energy sources, which played a big role in Nordhaus

Not Guzzling Quite So Much Gas

As the pump price climbs ever higher and the population ages, U.S. road traffic is falling It’s not just Palm Beach. Traffic levels are trending downward nationwide. Preliminary figures from the Federal Highway Administration show it falling 1.4% last year. Now, with nationwide gasoline prices having recently passed the inflation-adjusted record of $3.40 a gallon […]

UK: Refinery strike price hike fears

Planned strike action at a Scottish oil refinery should not lead to an increase in the price of fuel at the pumps, a senior petrol industry figure has said. Workers at the Grangemouth refinery are in talks with management from Ineos in a bid to head off the two-day stoppage. Chris Hunt, director general of […]

We regret to inform you

When climate change and peak oil thinkers run out of other things to worry about, there Before you argue with me (and you are both welcome and encouraged to), I

When fuel hits $4 a gallon, pumps at mom-and-pop stations stop counting

CONCONULLY Noguera locked down his pump last month when the cost of diesel climbed to more than $4 a gallon. His pump only charges up to $3.99. He called a company that services fueling stations, and they told him he’d have to wait four to six weeks. The retrofitted mechanical computer that he needed was […]

Arctic ice melting at alarming rate

Changes scientists didn’t expect for another 50 years are happening now, research suggests Ice was the last thing David Barber was worried about when he and an international team of scientists made plans last year to have their research icebreaker frozen into the Beaufort Sea for the winter. But when the Amundsen sailed into the […]

Scrap The Guzzlers

One way to bring down the soaring price of gasoline is to decrease demand. We can do that fairly painlessly by taking older, less fuel-efficient cars off the road. In the 1990s, California launched a voluntary vehicle retirement program. In some air quality management districts, owners of older, gross-polluting cars are paid cash to scrap […]

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