The spectre of ’stagflation’ (UK)

A combination of stagnant output and high inflation not seen for decades is set to haunt policy makers for months if not years to come. Even with the credit crunch, the housing market at its lowest ebb in 30 years, high street sales at their most miserable in half a decade, and industry reporting a […]

B.C. and Alberta need each other

Alberta On the supply side, generators range from wind farms east of Crowsnest Pass to huge coal-fired plants near Edmonton. The diversity of Alberta

Ditch that car, hop a train

As the price of gas soars, more and more commuters are leaving their cars in the garage and boarding the train. NEW YORK (CNN) — The soaring price of gas has convinced New Jersey resident Eric Scott to trade the comfort of his car for a seat on the train every morning after 17 years […]

California Utility May Ration Water to Refineries

(Bloomberg) — California’s East Bay Municipal Utility District is set to vote today on a proposal to ration water to customers near San Francisco, including two oil refiners, because of a drought. A seven-member board will vote on the plan to reduce supplies to industrial customers by 5 percent, Charles Hardy, a utility spokesman, said […]

US senators pressuring Saudis to hike oil output

WASHINGTON (Reuters) – Senate Democrats Tuesday introduced legislation to stop a U.S. arms sale to Saudi Arabia worth $1.4 billion in a tactic supporters said was aimed at pressuring the OPEC country to increase its oil output. “We are saying that we need real relief and we need it quickly. You (Saudi Arabia) need our […]

High fares to cut into summer air travel

An industry group says fewer passengers will fly, but planes will still be crowded because of reduced flights to save money as fuel costs rise. NEW YORK (CNNMoney.com) — Fewer people will fly this summer, according the Air Transport Association, and those who do should expect higher fares and crowded flights. “I think that a […]

Farmers unable to cash in on soaring food prices

With costs as high as an elephant’s eye, some growers are even cutting back on crops that are in short supply. All over the world, prices for basic foods — barley for beer, milk for cheese, corn for tortillas, and the rice that serves as a staple for more than half the world’s population — […]

China shuts mines, oil wells and plans after quake

China ordered coal mines, chemical plants and oil and gas wells to halt production to avoid further casualties after the country’s strongest earthquake in 58 years killed almost 10,000 people. Companies in affected areas must evacuate workers and can’t resume output until conditions allow for safe operations, the Beijing-based State Administration of Work Safety said […]

Iran reviews proposal to cut oil output

TEHRAN (Reuters) – Iranian President Mahmoud Ahmadinejad said a proposal for OPEC’s second biggest producer to cut crude output was under review by experts, Iran’s semi-official Fars New Agency reported on Tuesday. Oil Minister Gholamhossein Nozari said earlier on Tuesday the world’s fourth-largest oil exporter was reviewing how much oil it pumps but had taken […]

Military cracks down on scrap-metal scavengers

TWENTYNINE PALMS, Calif. – Hundreds of Marines were conducting a combat training mission in the Mojave Desert when an air patrol spotted something kicking up dust: A civilian pickup truck speeding across the barren landscape. … “This is not just some petty crime. This is dangerous business,” said Andy Chatelin, director of range management at […]

Myanmar biofuel drive deepens food shortage

BANGKOK (AFP) – Myanmar is struggling to feed its people in the aftermath of Cyclone Nargis — in part because the regime has been forcing some farmers to stop growing rice in a plan to produce biofuel instead. In 2005 the military government’s leader Than Shwe ordered a national drive to plant jatropha, a poisonous […]

Perennial Polyculture Farming: Seeds of Another Agricultural Revolution?

James Dewar presents arguments in favor of perennial polyculture farming as a positive contribution to a wide variety of global problems and suggests actions that should be taken to explore that promise further. He explains perennial polyculture farming and differences between it and annual monoculture farming. He explores its association with reversing environmental degradation; redressing […]

Senate approves end to oil reserve shipments

WASHINGTON (AP) — The Senate is directing President Bush to temporarily halt the shipment of thousands of barrels of oil a day to the government’s emergency reserve. Both Democrats and Republicans said such shipments make no sense when oil is costing more than $120 a barrel and could better be used to add supplies to […]

Iran rumor pushes oil to new record, gas jumps above $3.73

NEW YORK – Oil prices shot to a new record near $127 a barrel Tuesday on reports that Iran is planning to cut crude oil production. Gas prices, meanwhile, rose to a new record over $3.73 a gallon Tuesday, and their advance shows little sign of slowing with Memorial Day weekend, the traditional start of […]

Greek fuel truckers continue strike, supplies dry up

ATHENS (Reuters) – Greece’s fuel truckers on Monday decided to extend a strike that has cut petrol supplies, causing queues at filling stations and transport disruptions that threaten to bring the economy to a halt. The strike has already lasted a week, leaving about three quarters of Greece’s petrol stations without fuel for the fourth […]

New Wave of Nuclear Plants Faces High Costs

A new generation of nuclear power plants is on the drawing boards in the U.S., but the projected cost is causing some sticker shock: $5 billion to $12 billion a plant, double to quadruple earlier rough estimates. Nuclear power is regaining favor as an alternative to other sources of power generation, such as coal-fired plants, […]

The oily truth about America

With the oil price heading upwards and President George Bush heading for Saudi Arabia, as part of a Middle Eastern tour, it is time to accept the truth. The pursuit of oil is fundamental to US foreign policy. The importance of oil to American foreign policy is both obvious and curiously difficult to acknowledge in […]

Could higher fuel prices actually help U.S. airlines?

Publicly, U.S. airlines are wringing their hands about rising fuel costs and using the continued spike in oil prices to justify each round of fare increases and new charges for former freebies like seat selection or checking a second bag. Many carriers claim consolidation is the only viable option to survive escalating operating costs. But […]

The Why of Chokingly High Oil Prices

Bush Together with Saudi Arabia Spells Disaster for America There was a time when the Organization of Petroleum Exporting Countries (OPEC) controlled by Saudi Arabia and under the pragmatic thumb of Sheik Ahmed Zaki Yamani, would have opened wide the oil spigots in the face of sky high prices and a looming U.S. economic recession. […]

America @ $100/Barrel: How Long Will the Oil Last?

These days everyone is worried about oil. The primitive black goo has been linked to climate change, economic disruption and other problems, but make no mistake: We still need oil, and lots of it. Not only is American demand rising The Relentless Search There has not been a major find on U.S. soil since Prudhoe […]

Nissan Plans Electric Car in U.S. by

DETROIT In an interview Monday, Mr. Ghosn said Nissan decided to accelerate development of battery-powered vehicles because of high gasoline prices and environmental concerns, not just because of the need to meet stricter fuel-economy standards.

Average gas prices set record at $3.72 a gallon

The average price of gasoline jumped to $3.722 a gallon, the government said Monday, up a hefty 10.9 cents in a week and the fourth consecutive record. Diesel, the fuel of semi trucks, delivery vans and railroad locomotives, shot up 18.2 cents to $4.331 per gallon, guaranteeing higher shipping costs that could boost the price […]

What Condoms Have to Do with Climate Change

As the director of the Central Intelligence Agency, Gen. Michael Hayden should have some insight on the biggest threats facing the U.S. But when Hayden recently described what he saw as the most troublesome trend over the next several decades, it wasn’t terrorism or climate change. It was overpopulation in the poorest parts of the […]

IEA Cuts 2008 Oil Demand Forecast for Fourth Month

(Bloomberg) — The International Energy Agency, the energy adviser to 27 nations, cut its forecast for global oil demand in 2008 for a fourth month as record prices crimp consumption in the world’s most developed economies. The forecast was cut by 390,000 barrels a day to 86.84 million barrels a day, from 87.23 million barrels […]

BP, Rio Cancel $2 Billion Australian Power Project

(Bloomberg) — Rio Tinto Group, the world’s third- largest mining company, and BP Plc, Europe’s second-largest oil producer, canceled a plan to build a coal-fired power plant in Australia that would capture and store carbon to cut emissions. The plant at Kwinana, which was being studied by the Hydrogen Energy joint venture between Rio and […]

Gas prices spike plans for Hyundai pickup

SEOUL “We had studied it as a long-term project. But it appears to be too early to get into the market now because oil prices are rising sharply and trucks don’t sell well in the United States,” said Jake Jang, a Hyundai spokesman. The spokesman said the company would consider the plan again if the […]

Report: Biofuels majority of non-OPEC oil growth

Biofuels will account for 63 percent of oil supply growth from non-OPEC countries this year, taking global production of crop-based fuel to more than 1.5 million barrels a day, the International Energy Agency said today. Biofuels output will grow by 425,000 barrels a day this year, a 57 percent increase from a year ago, the […]

UK: North Essex: fuel thefts rise sharply

SOARING fuel prices were today blamed for an increase in the number of people driving off without paying at petrol stations. Colchester’s crime reduction officer, Colin Stiff, is warning forecourt staff to be on the lookout. “We are getting a significant increase in the number of reports of people making off without payment,” he explained. […]

Nothing governments can do about rising oil prices: oil expert Richard Heinberg

Oil expert and author Richard Heinberg joins Lateline to discuss the phenomenon of peak oil. TONY JONES: Now to tonight’s interview with Richard Heinberg. He’s one of the world’s leading experts on the phenomenon of peak oil. That’s the point at which the world’s oil reserves go into decline. The idea is that having reached […]

The global slump of 2008-09 has begun as poison spreads

The avalanche of bankruptcies has begun. Six US companies of substance have defaulted on bonds over the past fortnight, against 17 for the whole of last year. …Today’s “bear rally” may live on into June. Don’t count on it. Global bourses are no longer rising hand-in-hand with oil in exuberant celebration of liquidity relief (US, […]

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