$100-plus oil will be here for years as China motors ahead

The 2016 future price has just raced above $140 a barrel, spiking $20 in less than a fortnight. The futures market is driven by smart people who think of little else but the supply and demand of crude in the months and years to come. And last week they imposed the biggest futures price rise […]

Credit crisis was crude compared with this oil price surge

Now you see it. For most of the last year, the world has been living through an invisible crisis. The ravaging of the banking system, painful though it has been for shareholders in the grandes dames of Wall Street and banks beyond, has had relatively little conspicuous impact on the lives of the average Joe. […]

Trader lands

A trader has made an estimated

Global Warming Sticker Shock

WASHINGTON, DC, May 23, 2008 (ENS) – If global warming continues unchecked, by 2100, New York City will feel like Las Vegas does today and San Francisco will have a climate comparable to that of today’s New Orleans. In 2100, Boston will have average temperatures like those in Memphis, Tennessee today. These higher temperatures will […]

Dramatic Impact Of Sea-Level Rise On Chesapeake Bay’s Coastal Habitats

ScienceDaily Coastal habitats in the Chesapeake Bay region, near Washington D.C., will be dramatically altered if sea levels rise globally about two feet by the end of the century, which is at the low end of what is predicted if global warming pollution remains unaddressed. Under this scenario, the region would lose: ● More than […]

Relentless rise in oil prices tests economy’s resilience

After years of increases, some fear a tipping point has finally been reached. WASHINGTON — Only a few weeks ago, prominent policymakers and economists were cheerfully asserting that the U.S. economy would dodge recession and keep chugging forward despite a housing bust, a credit crunch and continuing job losses. “The data are pretty clear that […]

Teeth Gritted, Drivers Adjust to $4 Gasoline

Hating every minute of it, Americans are slowly learning to live with high gasoline prices. For a nation accustomed to cheap fuel, big vehicles and sprawling suburbs, the adjustments are wrenching. Cory Asmus of Temecula, Calif., just bought a $4,800 motorcycle for his 20-mile drive to work so he could cut his gas bill to […]

Arctic Drilling Wouldn’t Cool High Oil Prices

Drilling for oil beneath the pristine tundra of the Arctic National Wildlife Refuge would do little to ease world oil prices, the federal government’s energy forecasters said in a new report issued in a week that saw oil surpass $130 per barrel for the first time. Congress has fought bitterly for years over whether to […]

‘Tanks-A-Lot’ and other ploys to ease pump woes

As the summer driving season gets under way on Memorial Day weekend, hotels, retailers, and even churches are running promotions to help consumers with high gasoline prices. New York – There is an upside to $4-a-gallon gasoline. Yes, you heard that correctly. As the summer driving season gets under way on Memorial Day weekend, hotels, […]

Rapid Unraveling And The Demise Of Adolescent America

Well here it is folks-the great unraveling so many of us have been forecasting during the past five years as we’ve read the tea leaves and researched the unprecedented convergence of myriad natural, political, economic, and environmental realities. As most of you know, I’m traveling, yes on the road, across this country. I was going […]

The cost of gas: How two stations set their prices

HAVERTOWN, Pa. – Steve Kehler spends most of his time working on cars or managing paperwork at the auto repair shop and gas station he runs in this Philadelphia suburb. Unless an overnight gas shipment forces him to play another round of pricing roulette: Should he raise prices to keep up with pressure from his […]

Oil and the Fed

So the Federal Reserve is signaling that its rate-cutting binge may finally be over, and we can be grateful for that small favor. The consequences of its easy-money bender will roll through the economy for years to come, however, so it’s important to draw the right lessons. All the more so because the Fed’s most […]

Is $130 oil a bubble?

Some say no. They say unlike the tech and real estate bubbles, there’s no overabundance of supply. Others say these high prices are not sustainable. NEW YORK (CNNMoney.com) — Oil prices have doubled in the past 12 months, surging nearly $8 a barrel in the past four days alone. Big investment funds are putting money […]

Gas prices got you down? Conference explains it all

GRAND RAPIDS — If your jaw still is on the ground after paying $4.19 for a gallon of gas, an upcoming conference at Calvin College is calling your name. “I specifically scheduled the conference in May because the gas prices were going to be high,” said Aaron Wissner, organizer of the International Conference on Peak […]

Towns feel pinch of pricey gas

Locals could make, break economy in tourist sites like ‘water park capital’ WISCONSIN DELLS, Wis. Like many business owners in this tourist hot spot, Maria Yohn wonders whether record gas prices and the faltering economy mean more Midwesterners will spend their vacations here to minimize driving and flying

Saudi April inflation hits 10.5 pct on rents, food

RIYADH – Annual inflation in Saudi Arabia accelerated to at least a 27-year high of 10.5 percent in April from 9.6 percent the previous month, fuelled by rents and food prices in the world’s largest oil exporter. The cost of living index for the largest Arab economy was 115.2 points on April 30 compared with […]

Airlines increase US round-trip fares by up to $60

NEW YORK – Three major U.S. airlines have raised round-trip fares in the United States by up to $60 as they struggle with record oil prices, which have roughly doubled in the past year. A spokeswoman for United Airlines, owned by UAL Corp, said round-trip fares would rise between $10 and $60 to offset rising […]

Venezuela: Land of 12-Cent Gas

By subsidizing gasoline, Chavez spreads the oil wealth. But the cost of those cheap fill-ups is becoming hard to ignore Global oil prices zoomed up to $135 a barrel this past week. But that doesn’t worry Roberto Morales, a 33-year-old Venezuelan businessman. Morales, who drives a compact Volkswagen Gol, still pays only $1.32 to fill […]

Weekend Energy Listening: Ethanol’s Energy Balance with Tad Patzek

For a bit of weekend energy listening, here’s a conversation that I had with Tad Patzek (who should need no introduction around here), talking about ethanol’s energy balance. This was recorded 2 years ago now, but it still remains quite timely today. You can listen to the mp3 either by downloading the link or clicking […]

Angry protests as Indonesia hikes fuel prices

JAKARTA – Angry students hurled molotov cocktails at police after Indonesia hiked the cost of gasoline by 33 percent Saturday to rein in subsidies that are exploding along with world oil prices. More than 100 protesters were arrested as students burned tires and threw homemade fire-bombs outside the National University in Jakarta in response to […]

Gas roars higher, pressuring holiday travelers

NEW YORK – As consumers began hitting the road Friday for the Memorial Day weekend, they faced the sobering reality that it now costs $87 to fill a Ford Explorer SUV, up $14 from last year, and $72 to fill a mid-sized Honda Accord, up $12. That’s because gas prices, which took another jump higher […]

Two foreign oil workers kidnapped in Nigeria

PORT HARCOURT, Nigeria (Reuters) – Two foreigners working for Nigerian oil services company Lonestar were kidnapped in the Niger Delta in southern Nigeria on Friday, police and security sources said. Kidnappings for ransom are common in the oil-producing Niger Delta, where militants have launched a campaign of violence to press for local control of the […]

OPEC oil supply rising in May: Petrologistics

LONDON All 13 OPEC members are expected to pump 32.4 million bpd this month compared with a revised 31.7 million bpd in April, Conrad Gerber of tanker tracker Petrologistics, told Reuters.

Electric Cars – A Pipe Dream?

…I have lost some enthusiast for electric cars. I fear electric vehicles are too little too late. The world is changing very fast, especially life in the US. We have done so little in the US to prepare for a post-Peak Oil world. Of all developed countries the US is probably the least prepared for […]

Wake Up, America. We’re Driving Toward Disaster.

By James Howard Kunstler Everywhere I go these days, talking about the global energy predicament on the college lecture circuit or at environmental conferences, I hear an increasingly shrill cry for “solutions.” This is just another symptom of the delusional thinking that now grips the nation, especially among the educated and well-intentioned. I say this […]

The grim future of rising fuel prices

Crude oil surged briefly to near $132 a barrel this week. Who doubts even higher prices lie ahead? Gasoline was right on its heels. Regular cracked $1.37 a litre some places in the Interior, averaging around $1.33 in Vancouver. Will this never end? No, it won’t. How does $2.50 a litre grab you? That’s near […]

North Sea oil workers evacuated

More than 200 workers have been evacuated from a North Sea oil platform after an oil leak raised fears of an explosion. Rescue helicopters flew to the Statfjord A platform in Norwegian waters to assist with the evacuation. Some 60 workers remained on the rig to repair the leak, said a spokesman for StatoilHydro, the […]

Norway: Protesters rage against gasoline prices at the pump

A widespread, grass-roots protest has broken out in Norway against high prices for gasoline and diesel. Even though much of the pump price is the result of taxes, the oil companies are getting the blame. Market analyst Torbjoern Kjus at DnB Markets told newspaper Dagbladet that he expects oil prices, which hit USD 135 a […]

Oil Fund logs huge loss

Turbulent financial markets have taken a serious toll on Norway It’s the weakest quarter ever for the massive fund, which manages the revenues flowing into state coffers from Norway’s oil and gas resources. The money pumped into the fund every year amounts to the state’s net cash flow from its petroleum activities. The Bank of […]

The end of the road for British motorists

As the cost of petrol hits another new high, the British family is being forced out of its beloved motor. It’s just the latest affront to long-suffering drivers. The dream is turning into a nightmare. The car, the one mechanical object that offers unlimited personal freedom plus the rapture of ownership, has become a millstone […]

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