Plug-In Hybrid Leads Toyota’s Drive Beyond Oil

“Without focusing on measures to address global warming and energy issues, there can be no future for our auto business,” he told reporters in Tokyo, adding, “Our view is that oil production will peak in the near future. We need to develop power train(s) for alternative energy sources.” Watanabe’s reference to peak oil echoes that […]

All the signs are coming clear and worse, peak oil is near

Suddenly it has hit home. The big news is oil. I went back to see when I first mentioned the phrase PEAK OIL, and discovered that it was way back in 2003: five years ago. So the event should not be a surprise, yet, it hurts, and will keep on hurting from here to eternity. […]

Global Warming Could Release Trillions Of Pounds Of Carbon From East Siberia

East Siberia’s permafrost contains about 500 Gigatons (1100 trillion pounds) of frozen carbon deposits that are highly susceptible to disturbances as the climate warms. …Once started, irreversible thawing could release 4.4-6.2 trillion pounds of carbon per year into the atmosphere between the years 2300 and 2400, transforming 74 percent of the initial carbon stock into […]

Fade to black: Is this the end of oil?

For generations, we’ve taken it for granted. But as prices soar and reserves dwindle, the time is fast approaching when mankind will have to live without oil. Are we ready to confront some really inconvenient truths? The idea is simple enough. Those warning against an imminent peak oil crisis “A lot of people keep talking […]

Fuel blockade: Tanker drivers threaten to cut supplies from oil refineries

Striking tanker drivers plan to cut off supplies from major oil refineries in an attempt to escalate a dispute that has already led to queues on the nation’s forecourts. The drivers for Shell will urge unionised tanker drivers for rival oil companies not to cross their picket lines during the four-day action starting on Friday. […]

Severn barrage cost ‘cannot be justified’

The huge cost of building a controversial barrage across the Severn Estuary to produce electricity cannot be justified, a new economic study concludes. It would be wrong to use Conservation groups have warned construction of the proposed 10-mile barrage from Cardiff to Weston-Super-Mare would cause an environmental disaster at an internationally important wetlands site which […]

On biofuels, we have to make a moral choice

It is almost 20 years since we should have started doing something about climate change. Instead, humanity has spent that time creating a monumental work of denial and procrastination. We have employed cod science, elaborated blame strategies, and generally messed around. Now, we are approaching the cliff edge. Against this backdrop, the EU’s package of […]

Factories close, supermarkets empty and jets run out of fuel

Strike action by thousands of Spanish and Portuguese truckers produced ominous knock-on effects on food supplies, aviation and industry yesterday, as Lisbon airport ran out of fuel, car factories shut down and petrol stations and supermarkets reported shortages. In a worrying sign for other European countries that face rising discontent at the spiralling cost of […]

BP chief

Global oil production fell last year for the first time in six years while consumption continued to grow, according to BP. The oil company It showed that global production had slipped by 0.2 per cent in 2007 to 81.53 million barrels per day, while consumption grew by 1.1 per cent, or one million barrels, to […]

Retailers May Choose Local Suppliers as Oil Rises, PwC Says

(Bloomberg) — Global retailers may cut orders from China and India and source more goods locally in developed markets because of increased energy and transportation costs, PricewaterhouseCoopers said. Companies from supermarket owner Tesco Plc to jeans maker Levi Strauss & Co. are forging partnerships with local producers to reduce shipping expenses, ease environmental concerns and […]

Fuel shortage affects urban transport in Buenos Aires

Buenos Aires – The shortage of fuel forced several bus lines in Buenos Aires to suspend or reduce their service on Wednesday, while the lack of diesel hampered industrial and agricultural activity elsewhere in Argentina. Hundreds of buses were affected by the move, and there was chaos at bus-stops, as commuters tried to squeeze into […]

Expert: Oil industry at peak production

KUALA LUMPUR: The world

Subsidies: a big culprit in high gas prices

Gasoline would be cheaper if countries ended their oil subsidies and let markets rule. In China, the government caps gas prices. Drivers there pay about half of what Americans pay. In many countries, oil prices are held artificially low, either by fiat or subsidy. The result? Consumption keeps rising, boosting global prices. The rest of […]

Bush doesn’t rule out military strike in Iran

MESEBERG, Germany (AP) Merkel joined Bush in urging further sanctions against Iran if it fails to suspend its uranium enrichment program. Iran’s leader weighed in, too. Speaking before thousands in the central Iranian city of Shahr-e-Kord, President Mahmoud Ahmadinejad said Bush “won’t be able to harm even one centimeter of the sacred land of Iran” […]

Nigeria: Oil Installations – FG Beefs Up Security

THE Federal Government may have begun gradual security reinforcement around oil installations in the troubled Niger Delta following threats by armed groups in the region to cripple the oil industry, the mainstay of the nation’s economy in retaliation for the military attack on some Ijaw communities in Bayelsa, Edo, Ondo and Delta states. … Vanguard […]

Oil Could Hit $400 a Barrel by 2018

US military analysts looking at trends that will affect the relationship between America and China believe they see clear signs of future trouble Although now retired from the US military (he is currently CEO and chairman of private-equity group AEA Holdings and managing director of AEA Investors, a board member at Daimler Chrysler and Wipro, […]

Global fuel protests escalate

MADRID (AFP) “We cannot refuel any planes, except those on urgent, military or state flights,” a spokesman for the airport authority, Rui Oliveira, told Lusa news agency. The Spanish auto plants of Seat, Nissan, Renault, PSA Peugeot Citroen and Mercedes Benz were all forced to either cut or halt production as the strike left them […]

BP CEO does not expect fast end to TNK-BP crisis

BP PLC’s chief executive Tony Hayward said Wednesday he doesn’t expect a swift resolution to tensions with Russian shareholders of TNK-BP, but remains in talks with them. “We remain in discussions,” Hayward said at the presentation of BP’s annual global oil report. “I am not expecting an early resolution to a complex situation,” he said. […]

Mexico’s Calderon Party May Change Strategy on Energy

Mexican lawmakers from President Felipe Calderon’s party plan to meet tonight to map new strategies to push an energy bill through Congress as key opponents intensify their criticism. All 52 senators from the National Action Party, known as the PAN, will gather to assess their efforts to pass the proposal, which would give the state […]

Canadians, Americans split on oil sands

A majority of Canadians and Americans see the oil sands as economically important, but Canadians are more concerned about related environmental problems, a survey has found. The study, carried out by public relations firm Fleishman-Hillard, found that 75 per cent of Canadians surveyed, and 68 per cent of Americans, believe future development of the oil […]

IEA: Venezuela’s May Oil Output Slightly Higher At 2.36M B/D

Venezuela produced an average of 2.36 million barrels of crude a day in May, a slightly higher level than the previous month, the International Energy Agency reported late Tuesday. The country’s average production for May rose 1.7% from April’s 2.32-million-barrel-a-day level, the agency said in its latest monthly report. As part of its calculation, the […]

Saudi wants heads of state at oil talks: diplomats

RIYADH (Reuters) – Saudi Arabia, the top world oil exporter, wants heads of state to attend a June 22 meeting it is hosting of producers and consumers to discuss record oil prices, diplomats said on Wednesday. … A source close to the meeting said many energy ministers, including Bodman, would attend and Badri said investment […]

Why You Should Embrace $4 Gasoline

Everyone should want cheap transportation. Everyone should want to return to the days when filling up your automobile didn’t incinerate your savings. Your 100-mile daily commute shouldn’t consume half of your paycheck. You deserve better. And that’s exactly why you should embrace $4 gasoline. Huh? Nearly every “solution” to the current gas situation involves lowering […]

‘Unethical behavior’ to blame for gas prices – poll

62% of survey respondents say record runup in prices is fault of actions by players in the gasoline supply chain. NEW YORK (CNNMoney.com) — The question nags at Americans every time they fill up their gas tanks: Why is it costing $4 a gallon? A poll released Wednesday finds that 62% of Americans blame “unethical […]

Algenol trains algae to turn carbon into ethanol

NEW YORK (Reuters) – Private U.S. company Algenol plans to make ethanol from a primordial green soup that won’t raise food costs compared to other biofuel feedstocks like corn and sugar cane. The company has signed an $850 million deal with a Mexican company BioFields to grow algae, one of the planet’s first life forms, […]

Oil Change

Forget change you can believe in and start dealing with the changes coming at you as fast as the price of fuel makes its way skyward. With gasoline prices headed toward $5 a gallon, more than half the population has, in a matter of a year, become marooned in the suburbs. The economics of housing […]

OPEC chief appeals for calm over oil

LONDON (Reuters) – OPEC’s Secretary General on Tuesday appealed for calm, saying the record-high crude oil price was unbearable and did not reflect any shortage of supply in the market. Abdullah al-Badri also called for measures to curb market speculation, a factor OPEC says is sending prices to unjustified levels. Oil hit a record $139.12 […]

Ford to retool truck plants to build cars: paper

DETROIT (Reuters) – Ford Motor Co is assembling a plan to retool its North American truck plants to build cars in a bid to keep up with changing consumer demand in the United States, the Detroit News reported on Wednesday. Ford spokeswoman Angie Kozleski declined to comment on the report, but said plant managers and […]

‘Future of oil’ in focus in Congress

House panel scrutinizes industry oil forecast and sees 30% increase in demand over next two decades. NEW YORK (CNNMoney.com) — Experts projected that demand for energy will continue to grow and called for the use of biofuels and other measures to respond to the nation’s energy crisis, at a committee meeting in Washington, D.C., on […]

As oil rises, Americans rediscover the railroad

BOSTON (Reuters) – As oil prices spike, many Americans are rediscovering the railroad. Amtrak, America’s struggling passenger railroad, saw record numbers in May when ridership rose 12.3 percent from a year earlier, and ticket sales climbed 15.6 percent, according to company data. Amtrak President Alex Kummant said the numbers point to a sixth straight year […]

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