Saudi certain new oil mega project will be on time

KHURAIS OILFIELD, Saudi Arabia (Reuters) – State oil giant Saudi Aramco is adamant the biggest new field in its plan to raise oil capacity will arrive bang on schedule in June next year. A chorus of senior executives lined up Monday to tell reporters visiting the Khurais project south of Riyadh the 1.2 million barrels […]

The 7 Words You Can Never Say To Americans

Chicago Tribune

Even Texan oilmen think energy supplies have to be diversified

The Texan oilmen dining at Midland’s Petroleum Club are not very happy with the energy policies coming out of Washington these days. And they have little hope that either of the presidential candidates — Republican John McCain or Democrat Barack Obama — are going to make the tough calls needed to prevent a looming supply […]

Baltic Sea gasps for air as marine dead zones spread

The World Wildlife Fund cautioned Monday that the spread of so-called marine dead zones, where nothing can survive due to lack of oxygen, could cause the Baltic Sea ecosystem to collapse. “In the Baltic Sea, the marine dead zones could cause a total collapse of the entire ecosystem if their spread is permitted to continue,” […]

Surging prices may force more people from homes: UNHCR

The head of the UN refugee agency warned Friday that instability created by surging oil and food prices may force increasing numbers of people from their homes in search of basic necessities. UN High Commissioner for Refugees Antonio Guterres said in addition to conflicts, new challenges like global warming and poverty had also added to […]

Russian leader says environment problems a security threat

Russia’s environmental problems are a threat to national security and could make parts of the country uninhabitable within 30 years, President Dmitry Medvedev said on Saturday. On a televised visit to Saint Petersburg, the Russian leader said that after post-Soviet hardship in the 1990s it was time to turn to environmental questions. “Our country is […]

The Game is Over. There Won’t be a Rebound

… Michael Whitney: According to most estimates, the Fed has already gone through half or more of its $900 billion balance sheet. Also, according to the latest H.4.1data “the current holdings of Treasury bills is $25 billion. This is down from some $250 billion a year ago, or a net reduction of 90%.” (figures from […]

The bright side to high oil prices

…There What do I mean by a good bubble? There

What is keeping oil prices so high?

Despite an emerging global consensus that oil prices are dangerously high, there seems little chance of the cost of oil falling significantly in the near future. Analysts say measures agreed at Sunday’s crisis summit in Jeddah are unlikely to have a dramatic impact on market trends. But what is keeping prices close to record levels […]

Canada: Bitten by the deal that once fed us

Canadians should hope for an Obama presidency and the reopening of NAFTA …If Mr. Obama wins in November and brings his issues – labour and environment standards – to the table, Canada should prepare its own list. At the top should be getting out of the “energy proportionality” straitjacket that mandates that Canada must offer […]

Bioenergy from the Scum of the Earth

One of the simplest plants on Earth could help us out of a few complex problems. Algae may not only help us mitigate climate change, they could also become one of the few truly sustainable biofuel crops. The unsightly, suffocating green sludge we call pond scum is an unlikely savior for the planet.Yet algae underpin […]

Apache says full gas production in Australia may take six months

SYDNEY (AFP) Apache said after completing an initial assessment of the impact of the blast, it hoped to have production back to its normal level of 315 million cubic feet per day by December. “Our estimated timetable is to restore gross production at a rate of 180 million cubic feet of natural gas per day… […]

A legal case against the OPEC cartel

Decades of putting up with OPEC have not reduced oil prices. As the national average price of gasoline raced toward $4 a gallon and airlines laid off workers by the thousands because of rising jet fuel costs, the US House of Representatives took action: It overwhelmingly passed the Gas Price Relief for Consumers Act of […]

The devil is in the production details of Saudi Arabia

Yesterday we have heard announcements by Ali-Naimi, the oil minister of Saudi Arabia, regarding future production capacity increments. We are to believe that Saudi Arabia will produce 12.5 million barrels per day at the end of 2009 and a potential 15 million barrels per day in the coming decade. How should such announcements be valued? […]

Is ‘Peak Oil’ Already Affecting the Stock Market?

If I were asked to recommend an energy advisory team for the next President I What Hirsch adds uniquely is a more nuanced vision of the limits to our economy

ASEAN coal equities forecast to rally

Coal equities in Association of South-East Asian Nations (ASEAN) countries are forecast to outperform the broader marker longer than expected, a Goldman Sachs report said on Monday. Robust demand from emerging markets, supply constraints and coal’s relative attractiveness to oil were cited as the basis for further upsides in thermal spot prices in 2008 and […]

The Saudi Spigot

Riyadh is about to open the oil tap wider, but what happens when it’s tapped out? WHEN PRESIDENT Bush traveled to Saudi Arabia in mid-May to plead for an increase in oil production, his friend King Abdullah resisted him. U.S. consumers might be straining to afford gasoline, the Saudi monarch said, but the best he […]

Oil prices rise after Jeddah summit

World oil prices rose in Asia on Monday after militants blew up a Nigerian oil pipeline, intensifying concerns about tight global crude supplies despite Saudi Arabia’s output hike, dealers said. New York’s main oil futures contract, light sweet crude for August delivery, was 94 cents higher at 136.30 dollars per barrel. The July contract had […]

South Africa: Electricity Rise ‘Likely to Hurt the Poor’

There is uncertainty about whether poor households would be sufficiently shielded from an increased electricity tariff, says the Human Sciences Research Council (HSRC). The research body welcomed the recent price determination by the National Energy Regulator of SA (Nersa), but Miriam Altman, the HSRC’s executive director, said she was concerned about the potential impact on […]

MIT chemists see near-term promise in mimicking photosynthesis

With gas and oil prices at all-time highs, it’s only logical for scientists to try to harness some of that solar energy. To that end, three MIT researchers are building a device that mimics photosynthesis–the process plants use to capture and store the sun’s vast energy. “To turn sunlight into fuel, that’s a chemistry process,” […]

Queensland the solar energy state: Bligh

Solar panels will be fitted onto the roofs of all Queensland state schools in a $60 million solar energy initiative. Premier Anna Bligh launched the program, labelled the first of its kind in Australia, as part of the government’s commitment to fight climate change.Ten schools will be the first to take part when the plan […]

World’s Biggest Solar Plant Goes Online in Germany

A solar power plant described by its operators as the biggest in the world began generating electricity at the site of a former East German air base on Sunday, June 22. The Waldpolenz Solar Park is built on a surface area equivalent to 200 soccer fields, the solar park will be capable of feeding 40 […]

German town forces homes to fix solar tiles

Solar panels will soon grace the roofs of the quiet medieval town of Marburg under a controversial new law forcing owners of all new or renovated buildings in its limits to include solar panels, setting a national precedent. A coalition of Social Democrats and Greens passed the ruling late on Friday to counter climate change […]

Japan to promote solar power for households: Nikkei

The Japanese government will come up with measures on Tuesday to promote the household use of solar power systems by introducing subsidies and tax breaks from next year, the Nikkei financial daily reported on Sunday. The paper said the steps, following an environment initiative announced earlier by Prime Minister Yasuo Fukuda, include halving the cost […]

German Business Confidence Declines to Two-Year Low

German business confidence fell to the lowest in more than two years in June as record oil prices and the prospect of higher interest rates dimmed the outlook for growth in Europe’s largest economy. The Munich-based Ifo institute said its business climate index, based on a survey of 7,000 executives, declined to 101.3 from 103.5 […]

Saudi Arabia Boosts Oil Supply; Doubt Over Price Drop

Khelil, who is the president of the Organization of Petroleum Exporting Countries and oil minister for Algeria, said a Saudi increase was “illogical.” Asked whether prices would decline after the summit, Khelil and Venezuelan Oil Minister Rafael Ramirez both replied: “I don’t think so.” John Hall, managing director of London-based consultants John Hall Associates, said […]

James Hansen: Prosecute oil companies, top scientist says

James Hansen, the leading climate change scientist who made a ground-breaking speech about global warming exactly 20 years, will today reprise his seminal address when he calls for fuel companies to be tried for crimes against humanity. In his speech to Congress today, he is expected to target big corporations and members of US Congress […]

Surviving peak oil will require rethinking transportation

There should have been banner headlines in every newspaper in the country. It should have been the lead story on every newscast. On June 7 U.S. Energy Secretary Samuel Bodman announced that the world had reached peak oil output and that demand was outracing supply. Instead, Bodman’s pronouncement in Japan, before the energy chiefs of […]

Diesel shortage hits Tijuana and other cities

ROSARITO BEACH In Tijuana and Rosarito Beach, virtually all gas stations that had been selling small amounts of diesel had closed those pumps yesterday because they had run out. Regular unleaded and premium gasoline were being sold, however. Advertisement In Mexico City, meanwhile, the head of the national oil company, Pemex, was quoted as saying […]

Somaliland – Sleeping-walking into disaster

The approaching menace is so tangible it has been visible on the horizon for at least the last two years. It has been sending warning signs with klaxons blaring but we adopted a collective policy of hear no evil see no evil. The menace will be in the form of famine and break down of […]

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