IEA Energy Scenarios: Change We Have to Believe In

The International Energy Agency recently published its vision of a cleaner, less oil-dependent future. Dolf Gielen, one of the lead authors of the IEA Energy Technology Perspectives, explains how to reduce oil consumption and halve carbon dioxide emissions by 2050.Why has the IEA issued this new report? The current outlook is not sustainable, fossil fuels […]

Are they really oil wars?

The view that recent US military adventures in the Middle East and the broader Central Asia are driven by energy considerations is further reinforced by the dubious theory of Peak Oil, which maintains that, having peaked, world oil resources are now dwindling and that, therefore, war power and military strength are key to access or […]

Nigeria

On the heels of this weekend’s Saudi Oil summit, Nigerian production has dropped to the lowest level in 25 years. This was in part because militant attacks shut in as much as 345,000 barrels per day of Nigerian production in the past few days. The Nigerian militant group MEND (Movement for the Emancipation of the […]

The Future of Oil: What the Experts Are Saying

Saudi Arabia held a meeting of oil producers and policy makers this past weekend Have the Saudis Done Enough? Dan Yergin, of Cambridge Energy, and John Kilduff, of MF Global, discuss the Saudi oil summit and whether enough was done. CNBC (videos)

Skeptics doubt Saudi Arabia can boost oil supply

JEDDAH, Saudi Arabia … The Saudis say they’re spending $60 billion over the next five years to maintain and expand production capacity

Losing the Arctic Edge

The Norman Wells field established Canada as the worldLet

Hitting credit card limits at the pump

Skyrocketing gasoline prices has many motorists bumping up against pay-at-the-pump restrictions. …With skyrocketing gasoline prices, many customers are bumping up against pay-at-the-pump credit card limits — often $75. Rules limiting these transactions are nothing new, but these days it’s increasingly easy to exceed the limit, leaving many customers to face the hassle of dealing with […]

Utilities cut off more customers who are behind on their bills

As skyrocketing food and gasoline prices strain budgets, utilities are disconnecting many more customers who fall behind on their bills, and even moderate-income households are getting zapped. Electricity and natural gas shutoffs are up at least 15% in several states compared with last year. Totals for some utilities have more than doubled. “We’re seeing a […]

The Saudis

…In a famous historic deal struck just after World War II on an American destroyer, President Roosevelt and King Abdulaziz al-Saud pledged America would help the Saudis find and produce their oil and protect them in return for fair and secure supplies. The meeting is recorded in abundant grainy documentaries and numerous official documents. America […]

Mexico sees oil revenues bouncing back in 2nd qtr

Mexico should see oil revenues bounce back in the second quarter, after a dip in the first quarter, citing revenues above forecast in April, Deputy Finance Minister Alejandro Werner said on Monday. Factors that hurt government coffers in the first quarter — such as lower crude export volumes and a jump in the price and […]

Open more offshore, firms tell new Norway minister

Norway’s oil industry on Tuesday called on the new Petroleum and Energy Minister Terje Riis-Johansen to open up quickly more area for offshore oil and gas exploration. With oil output from ageing North Sea fields in decline, the industry sees access to new acreage as the best way to sustain a boom which has turned […]

NZ: Green buses uneconomic

Hopes of a green bus fleet in Canterbury have been dashed by the soaring price of tallow. Environment Canterbury (ECan) has been conducting a trial of biodiesels in four buses on Christchurch routes since September 2006.Just five months ago, ECan was excited about a biodiesel-fuelled bus fleet. In a report it recommended work be done […]

India: Tata Power Will Double Coal Imports to Raise Electricity Output

Tata Power Ltd., India’s biggest non- state electricity generator, will double coal imports this fiscal year to 3 million tons, aiming to boost production by a fifth. Peak power shortages in India are as high as 15 percent. Tata Power needs to import as much as 22 million tons of coal annually to increase capacity […]

Coal Producers Struggle to Meet Demand

U.S. coal producers have been largely unable to meet growing demand because of a lengthy permitting process, lack of capital investment and a shortage of skilled miners, which will keep supplies tight and prices high. The underlying industrywide issues are compounded by severe floods in the Midwest, which have stranded barges full of coal and […]

Oil prices won’t come down: OPEC president

OPEC president Chakib Khelil rebuffed on Tuesday calls from oil consuming countries to increase supply, saying that the cartel had already done what it could on high prices. “OPEC has already done what OPEC can do and prices will not come down,” Khelil told journalists as he arrived for a meeting with EU energy officials […]

Indium eyes upside as LCD demand explodes

Having languished below $500 a kg for the first four months of the year, indium prices jumped more than 60 percent to $700 a kg at the start of June. Prices have since slipped to about $650 a kg, but are expected to head higher and the chances of the silvery-white metal revisiting records above […]

Japan aims to restart solar subsidies next year

Japan aims to reintroduce subsidies on solar power equipment next year to help generate demand until technological innovation brings prices down. The Ministry of Economy, Trade and Industry will draw up plans for new residential and commercial subsidies by August, in time to put them in their budget requests for next year, ministry officials said […]

Biofuel production on abandoned lands could meet 20% of global oil demand

Using abandoned agricultural lands for biofuel production will meet only a small fraction of global energy needs without compromising food supplies or diminishing biologically-rich habitats, reports a new study published in the journal Environmental Science and Technology. Using historical land-use data, satellite imaging, and ecosystem models, a team of researchers estimate that 4.7 million square […]

Peak Oil and the New Administration

America is now becoming more aware that we are all caught up in an unexpected nightmare called Peak Oil, the point at which the demand for oil on the world market overwhelms world production capacity and this condition becomes irreversible. Currently world petroleum production is remaining relatively stable at about 87 million barrels per day […]

Solar Cell Investments to Reach Parity with Semiconductor Industry by 2010

Worldwide investments in the production of Photovoltaic (PV) cells will rise to the same level as those for semiconductor manufacturing by 2010, due to booming demand for solar energy, according to iSuppli Corp. Global production of PV cells is expected to rise to as much as 12 Gigawatts (GW) by 2010, up from 3.5GW in […]

Uranium poised for a rebound as reactor construction booms

The uranium industry’s worst year is about to collide with a nuclear construction program in India and China that rivals the ones undertaken during the oil crisis of the 1970s. The result is likely to be a 58 per cent rebound in uranium to $90 a pound from $57 now, according to Goldman Sachs JBWere […]

Analysis: Middle East nuclear renaissance?

WASHINGTON, June 23 (UPI) — A comprehensive and well detailed report by the International Institute for Strategic Studies, released last week, sheds a pile of information on the state of nuclear proliferation in one of the world’s most volatile regions — the Middle East. …”In the span of the 11 months between February 2006 and […]

GM further modifies production; hires broker for Hummer

On the production side, GM today said it plans to temporarily idle several North American truck plants starting next month as the company struggles to adjust to shrinking demand for pickups and SUVs. The moves come less than a month after GM announced sweeping plans to cut truck production and add capacity on the car […]

Flooding muddies push for ethanol

Higher corn prices lead to call to modify biofuel rule WASHINGTON — Massive flooding in the Midwest has ruined millions of acres of crops, spurring record corn prices and raising serious questions about whether the United States can meet new requirements for using corn-based biofuels in the nation’s cars and trucks. A sweeping federal energy […]

Yara plant to take CO2 from biofuel plant

LONDON: Biofuels company Ensus said on Monday it has signed a deal to supply raw carbon dioxide produced at Europe’s largest biorefinery in north-east England to Norwegian chemical group Yara . Yara, in a separate statement, said it would invest 30 million euros 23.7 million pounds) in a liquid carbon dioxide facility in Britain to […]

Coal-fired power plant in Ark. to be operating in 2010

OSCEOLA, Ark. The 665-megawatt unit would generate power for utilities in eight states from Texas to Illinois. A proposed second unit would boost the output to 1,330 megawatts. But environmentalists say the plant will be a major new source of pollution. “If they build all 1,300 megawatts, it will be one of the biggest new […]

Activists outraged by Kenyan biofuel plans on fragile wetland

NAIROBI (AFP) Handing over of the delta to state-owned Mumias Sugar Company for sugarcane plantation endangers more than 350 bird species, lions, hippos, nesting turtles and Tana red colobus, one of 25 primates facing extinction worldwide, they said. The groups commissioned a study in May that concluded there would be “irreversible loss of ecosystem services” […]

Aramco hiking production capacity by 850,000 b/d

Saudi Aramco, repeating long-announced plans, will increase production by yearend by a combined 850,000 b/d from its Khursaniyah, Nuayyim, and Shaybah fields, according to a senior official. Amin Al Nasser, Saudi Aramco’s senior vice-president for exploration and production, said the company will bring Khursaniyah on stream by yearend, adding 500,000 b/d of oil production, while […]

Crisis meeting over Nigeria oil attacks

LAGOS (AFP) “One solution that some are thinking about is increased active participation from local host communities — that is active ownership of the assets in the oil industry as much as practicable,” Bisibe continued. Ann Pickard, Shell’s most senior executive in Nigeria, said just that the company would like “to get back to production […]

United to lay off nearly 1,000 pilots this summer

United Airlines told its pilots Monday that it intends to eliminate about 950 pilot jobs, starting at summers’ end, when the Chicago-based carrier will begin grounding aircraft in large numbers. United, the nation’s second-largest carrier, intends to send furlough notices to about 1,450 pilots with the least seniority, including those already on military or personal […]

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