New study to force ministers to review climate change plan

Britain and Europe will be forced to fundamentally rethink a central part of their environment strategy after a government report found that the rush to develop biofuels has played a “significant” role in the dramatic rise in global food prices, which has left 100 million more people without enough to eat. The Gallagher report, due […]

Power lines stand in way of huge solar farm

SAN DIEGO – It seems like an idea any environmentalist would embrace: Build one of the world’s largest solar power operations in the Southern California desert and surround it with plants that run on wind and underground heat. Yet San Diego Gas & Electric Co. and its potential partners face fierce opposition because the plan […]

Oil’s ‘Bull Run’ May Be Over on Supply, JPMorgan Says

Crude oil’s “bull run” may be over as prices become increasingly volatile and Saudi Arabia pledged to boost supplies, according to JPMorgan Chase & Co., the third- largest U.S. bank. While using $90 a barrel as the oil price estimate for this year, JPMorgan is using $85 a barrel for its long-term oil price estimate […]

Ocean temperatures and sea level increases 50 percent higher than estimated

New research suggests that ocean temperature and associated sea level increases between 1961 and 2003 were 50 percent larger than estimated in the 2007 Intergovernmental Panel on Climate Change report. The results are reported in the June 19 edition of the journal Nature. An international team of researchers, including Lawrence Livermore National Laboratory climate scientist […]

‘Tipping Point’ for Renewable Energy

Renewable energy is approaching a “tipping point” and should expand dramatically in the next decade, further narrowing the gap between alternative forms of energy and fossil fuel use, said environmental and economic experts at a forum here Monday. “Increasing market demand, policies, and investment trends are creating a perfect storm for the growth of renewable […]

Farming for cellulosic ethanol gets started

GUYMON, Okla. – Work has started on the planting of a 1,000-acre switchgrass field in the Oklahoma Panhandle that researchers plan to use in the production of cellulosic ethanol. The field is being touted as the world’s largest for switchgrass, a drought-resistant perennial plant that grows even on marginal lands. Scientists at the Noble Foundation […]

States weigh options in offshore oil fight

PENSACOLA, Fla. – Governors in some coastal states promised to block attempts to tap offshore petroleum reserves, citing concerns about the environment and tourism. Others agreed with President Bush’s call to lift a 27-year-old federal ban on offshore drilling but said states should decide whether to allow it. Bush on Wednesday joined Republican presidential candidate […]

Shooting the moon on renewables

While McCain wants to drill more oil to fight $4 gas, Obama calls for an ‘Apollo project’ aimed at alternative energy. Should the government get involved? NEW YORK (CNNMoney.com) — This week’s push for increased U.S. oil drilling – both offshore and in Alaska – is part of a longer-standing debate about the best way […]

Japan, China strike landmark gas-sharing deal

TOKYO (AFP) But the two sides continue to dispute other gas fields in the East China Sea and, in a sign that even the limited deal is controversial, Chinese nationalists protested Wednesday outside the Japanese embassy in Beijing. In the crux of the deal, Japan’s private sector will invest in China’s ongoing development of the […]

Congressional stalemate over renewable energy

Even as lawmakers of both parties talk about the need to shift the country toward clean, renewable energy, Congress is in danger of letting key tax credits that have fueled the growth of wind and solar power expire at the end of the year. The Senate failed for the second time in a week Tuesday […]

China, US sign 10-year energy, environment framework

WASHINGTON — China and the United States signed a 10-year energy and environment cooperation framework here Wednesday after the two nations concluded their fourth round of Strategic Economic Dialogue, or SED. Speaking to reporters before the signing ceremony at the US Treasury Department, visiting Chinese Vice Premier Wang Qishan said the deal was “a major […]

McCain calls for building 45 new nuclear reactors

SPRINGFIELD, Mo. (AP) In a second straight day of campaigning devoted to the energy issue, the Republican presidential nominee-in-waiting also said the only time Democratic rival Barack Obama voted for a tax cut it was a “break for the oil companies.” McCain said the 104 nuclear reactors currently operating around the country produce about 20 […]

Marshalls Considers ‘Emergency’ Declaration Over Looming Energy Crisis

The Marshall Islands Cabinet will be urged today or tomorrow to declare a state of emergency over the worsening energy crisis that threatens to undermine the country. The Marshall Islands national disaster committee approved a report Monday recommending that Cabinet take preemptive action before a disaster hits. The report, with recommendations, is expected to be […]

Australia: petrol price records now weekly

SYDNEY petrol prices reached record highs for the sixth week in a row last night, with motorists paying 171.9 cents a litre for unleaded fuel, as Australia ran up its largest monthly bill for imported petroleum. The low-end of the weekly fuel cycle came to an abrupt end, with unleaded petrol going for as little […]

Drilling for Answers

Will we find the oil we need offshore? Houston – There’s something about the heavy air here that puts visions of drilling in the mind. On Tuesday, John McCain, who came to pander to the local oil industry, called for a reversal of the 27 year ban on offshore drilling. (President Bushechoed it today), and […]

House Democrats call for nationalization of refineries

House Democrats responded to President’s Bush’s call for Congress to lift the moratorium on offshore drilling. This was at an on-camera press conference fed back live. Among other things, the Democrats called for the government to own refineries so it could better control the flow of the oil supply. They also reasserted that the reason […]

City of Idaho Falls Considers Fuel Storage Facility in Case of Emergency

With gas prices at an all-time high, city budgets are taking a hit because of the many city vehicles that are fueled up every day. But there’s another concern that one city has in regards to gasoline; that’s if they have enough during a time of emergency. Some of us may assume they’ll always be […]

Oil Price Realities May Soften Fed Rate Moves

(Bloomberg) — The Federal Reserve, when considering how much to raise interest rates to keep inflation in check, might call upon the law of gravity: nothing, even the price of oil, goes up forever. When the cost of a barrel of crude oil touched $140 on June 16, almost double its price a year earlier, […]

Credit card fees: Some gas stations say ‘no more’

CHARLESTON, W.Va. – When gas station manager Roger Randolph realized it was costing him money each time someone filled up with $4-a-gallon gas, he hung a sign on his pumps: “No more credit cards.” He may be the first in West Virginia to ban plastic, but gas station operators nationwide are reporting similar woes as […]

Fresh protests in Nepal capital at fuel price hike

KATHMANDU, June 18 (Reuters) – Taxis, buses and cars went off the streets in the Nepali capital on Wednesday, as hundreds of students burned tyres and blocked roads in new protests against a recent hike in fuel prices and transport fares, police said. Last week, Nepal’s state-run oil firm increased petrol and diesel prices by […]

High oil price? Just blame the consumer

Saudi Arabia’s decision to pump more oil could mean that it thinks oil prices are too high and that increased supply will cause them to fall. It could mean that it thinks prices have peaked and that it can now maximize its profits by increasing production. It could mean that King Abdullah, on sober geopolitical […]

Poll: Fuel spike curbs vacations, dining out

Nearly 39 percent say they are considering changing travel plans WASHINGTON – Many Americans will forgo vacations and dine in more often to combat soaring fuel prices, while 1 in 10 are rethinking where they live or work, according to a Reuters/Zogby poll released on Wednesday. Nearly 39 percent of those surveyed said they were […]

Oil Crunch Trumping Climate Concerns?

In 2006, I interviewed dozens of experts on energy, climate, and the economy for a story in our ongoing Energy Challenge series, and more than a few warned then that, in the world of politics and policy, the need to deal with a growing global oil crunch could well trump the need to curb greenhouse […]

Home buying practices adjust to high gas prices

In his hunt for a new home, Demetrius Stroud crunched the numbers to find out that, with gas prices climbing, moving near an Amtrak station is the best thing for his wallet. Stroud was looking in Elk Grove., Calif. So instead he made an offer on a home near the train station in Davis, which […]

White House: DOE’s Bodman To Lead Delegation At Saudi Oil Mtg

WASHINGTON (Dow Jones)–Energy Secretary Samuel Bodman will lead the U.S. delegation at the June 22 conference on oil prices in Jeddah, Saudi Arabia, the White House confirmed Wednesday, ending speculation that President George W. Bush would attend the session. “He’ll stress that the price increases we’ve been experiencing have been the result of this really […]

Mexico freezes basic food prices until year-end

MEXICO CITY, June 18 (Reuters) – Mexico will freeze prices on some 150 basic foods, ranging from cooking oil to canned beans, to ease the impact of rising global food costs on households and the economy, President Felipe Calderon said on Wednesday. Calderon, who recently lowered import tariffs on some key foodstuffs, said industry federation […]

UK Inflation: the only way is up, baby

With Consumer Prices Index (CPI) rising to 3.3% (year on year to May-08), the fastest rate of increase in over a decade, the Governor of the Bank of England has written to the Chancellor to explain. …What can we learn from this exchange? Starting with King. He reviews the situation noting that inflation has recently […]

Iran Slams Saudi Over Upping Oil Output

Iran says Saudi Arabia should not be increasing its oil output unilaterally, claiming such decisions require a consensus from the Organization of the Petroleum Exporting Countries (OPEC). Saudi Arabia, the world Iran

G8 Hits Impasse On Inflation

The threat of inflation to the global economy, coupled with slowing economic growth, has created a conflicting situation for economic policy responses. The complexity of the ensuing situation was exemplified in last weekend’s G8 finance ministers’ failure to reach consensus on the causes and solutions for rising inflation. –The G8 communique expressed “strong concern” over […]

Russia to Start 2nd-Phase Oil Pipeline Work for Japan in Dec. 2009

The second-phase construction work for a pipeline to transport East Siberian oil to Japan will start in December 2009, Nikolai Tokarev, chief of Russia’s state-run oil pipeline operator Transneft, said Monday. Tokarev showed the prospect at a meeting with Russian President Dmitry Medvedev. The second-phase construction will cover the section between Skovorodino and a port […]

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