Toyota develops a new fuel cell hybrid

Car can travel more than twice the distance of predecessor TOKYO – Toyota has developed a new fuel cell hybrid, a green car powered by hydrogen and electricity, that can travel more than twice the distance of its predecessor model without filling up, the automaker said Friday. The improved model The FCHV-adv model, which received […]

Taiwanese farmers protest fertilizer price hikes

TAIPEI, Taiwan: About 200 farmers from Taiwan’s rural south protested Friday against a 70 percent increase in fertilizer prices, demanding government subsidies to help them offset rising costs. The protesters, mostly from Pingtung and Tainan counties, held up fertilizer bags scribbled with slogans such as “Fertilizer Prices Rise, Farmers Die.” Last month, the government lifted […]

Australia: Months before Apache gas supply returns

It will be at least two months before Apache Energy’s Varanus Island gas processing facility, off the coast of Karratha in Western Australia, will return to partial production. Managing director Tim Wall told journalists visiting the island on Friday that one of the processing plants for the John Brookes and East Spar joint ventures had […]

Morgan Stanley Sees $150/Barrel WTI by July 4

Morgan Stanley Friday said that crude oil shipping patterns could result in prices of $150 a barrel for West Texas Intermediate (WTI) oil by July 4. The firm said distribution patterns out of the Middle East were mimicking ones seen in the prior year, when it made a similar prediction for a short-term price spike. […]

Why oil prices will tank

Arguments that $4-a-gallon gas (or even higher) is here to stay are dead wrong. Housing’s boom-and-bust cycle tells you why. NEW YORK (Fortune) — High-flying tech stocks crashed. The roaring housing market crumbled. And oil, rest assured, will follow the same path down. Not everyone agrees. In an echo of our most recent market frenzies, […]

Peak Oil and Reflexivity and Peak Oil

A good many years ago, I read George Soros’ “The Alchemy of Finance”, which introduced me to the concept of reflexivity, which in a nutshell is when observers of a phenomenon can’t help but impact the phenomenon itself via their ‘observing’, thus changing the original underlying fundamentals and setting in motion a boom-bust dynamic (i.e. […]

Mexico sees lower oil exports for 2008

MEXICO CITY (Reuters) – Mexico’s average oil exports will remain well below target all year, and beneath last year’s levels, due to lower crude production, the head of state oil monopoly Pemex said on Wednesday. Pemex Chief Executive Jesus Reyes Heroles said the state-run company’s oil exports were headed for an average of 1.40 million […]

Saudi Arabia plans royal treatment for heavy crude

Kingdom to raise refining output, but plans may do little to ease high prices SAN FRANCISCO (MarketWatch) — Dense, dirty and less profitable, a type of crude oil long marginalized by the global petroleum industry is attracting a wave of new refining investment as the world’s supplies of premium crude look set to decline. Saudi […]

Don’t give up

Do you feel it’s a waste of time trying to prevent climate change? That reducing your carbon footprint is pointless when someone else is happy to increase theirs? That changing lightbulbs is a futile gesture? Well don’t, says Michael Pollan, because even small changes in your lifestyle – and your thinking – can help save […]

Pakistan may seek deferred Saudi oil payments

ISLAMABAD – Pakistan Pakistan

Will the Oil Bubble Burst?

Eleven years ago, after doing a lot of studying and a lot of thinking, Richard Rainwater convinced himself that the long decline in oil prices that had begun in the early 1980s was about to end. As a billionaire who had made his name and fortune steering the Texas oil riches of Fort Worth’s Bass […]

Energy: Reaching a peak (UK)

A report commissioned by the U.S. government in 2005 contained a stark message. The country, it said, would soon face “an unprecedented risk management problem”. The Hirsch Report warned the Bush administration of “economic, social, and political costs”, which were also likely to be “unprecedented”. These were strong and worrying words. But, despite first appearances, […]

Jeremy Leggett: Seas of plenty?

A BBC documentary implied that Scotland has plenty of oil and gas in reserve. It should never have been screened. The peak-oil debate is a high-stakes game. In an economy as oil-addicted as ours, we cannot afford to bet that oil supply will continue to meet demand and be wrong. This week, BBC Scotland produced […]

Cairn says peak oil fears may have fuelled rally

LONDON (Reuters) – Oil’s spurt to a record above $135 last month from around $100 at the start of 2008 may have been influenced by a growing feeling that oil supplies might be peaking, the head of oil explorer Cairn Energy said. Cairn’s Chief Executive Bill Gammell told the Reuters Global Energy Summit on Friday […]

Oil above $130 on weak dollar, Israel comments

LONDON (Reuters) – Oil rose by more than $2 a barrel to above $130 on Friday, bringing gains in the last two days to $8 as the U.S. dollar weakened on signals the European Central Bank may raise interest rates this year. Comments from Israel’s transport minister that an attack on Iranian nuclear sites looked […]

Oil prices seep into asphalt costs, detour road work

CHICAGO “We will do what patching we can, but this will truly, truly be a devastating blow to the infrastructure,” says Shirlee Leighton, a county commissioner in Lake County, S.D., where a 5-mile repaving project was postponed after bids came in $79,000-$162,000 higher than the $442,000 budget. The mix used to resurface roads consists of […]

Gazprom Gas Supplies May Fall Short of European Demand By 2015: IEA

The International Energy Agency has warned that Europe may face gas shortages by 2015, largely due to Gazprom’s inability to meet growing demand. While this presents short term problems for European supply, Russia also has much to worry about in terms of bringing new fields online as the EU attempts to diversify its supplies beyond […]

Biofuel industries pleased by U.N. summit resolution

Biofuel industry leaders welcomed a cautious declaration on crop-based fuels, issued on Thursday at a global food summit that featured a fiery debate over the merits of increasing biofuel production. The U.S. Renewable Fuels Association, the Canadian Renewable Fuels Association, and the European Bioethanol Fuel Association said they welcomed the “thoughtful approach” that world leaders […]

Chile Considers Solar Energy to Help Power Mines

Chile, faced with an energy shortage that threatens to disrupt output at the world’s biggest copper mines, may tap solar energy to help avoid power rationing. The government is considering a plan to install solar panels in the Atacama Desert, where more than a fifth of the world’s copper is mined, Energy Minister Marcelo Tokman […]

Earthquake Lake Threatens China’s Longest Oil Link

China’s longest fuel pipeline is at risk of damage from an earthquake lake that’s threatening to burst its banks, said the parent of operator PetroChina Co. The Lanzhou-Chengdu-Chongqing pipeline is 60 kilometers (37 miles) downstream from Tangjiashan lake, formed after the May 12 temblor that struck China’s southwestern province of Sichuan, China National Petroleum Corp. […]

Indonesia not to hike fuel price in H2 even if oil averages $150/b

Indonesia is not going to hike subsidised fuel prices again this year even if the country’s crude oil price averages at $150 a barrel for the rest of the year, Bisnis Indonesia reported, citing Finance Minister Sri Mulyani Indrawati. Last month the government hiked fuel prices by an average of nearly 30 percent to cap […]

Oil, inflation threaten Japan Inc spreads

Japanese bond investors have been slow to recognise the inflationary threat from record high oil prices, and an expected squeeze on corporate profits from steep commodity prices should push credit spreads wider in coming months.With many Japanese firms assuming a crude oil cost of roughly $110 a barrel in the current fiscal year ending in […]

South Korea Faces Difficulties on Oil Costs, Lee Says

South Korea’s President Lee Myung Bak said the economy faces difficulties from rising oil and food costs and vowed to pursue policies to ease the burden on consumers. “Our conditions are very difficult. International oil prices doubled in the last year and grain and raw-material costs are surging,” Lee said in a speech delivered today […]

Investors’ Growing Appetite for Oil Evades Market Limits

Hedge funds and big Wall Street banks are taking advantage of loopholes in federal trading limits to buy massive amounts of oil contracts, according to a growing number of lawmakers and prominent investors, who blame the practice for helping to push oil prices to record highs. The federal agency that oversees oil trading, the Commodity […]

IEA Says World Needs $45 Trillion `Energy Revolution’

The International Energy Agency said the world needs $45 trillion in additional investment to develop clean technologies in a bid to cut annual emissions of greenhouse gases by half before 2050. The world needs to build 32 new nuclear power plants and 17,500 wind-power turbines each year to meet a target of cutting emissions by […]

Uranium supply sufficient for next century: IAEA

Global uranium supply is sufficient for at least the next 100 years and countries going ahead with nuclear energy programme will have enough fuel for their robust demand and growth, says International Atomic Energy Agency (IAEA). Based on a study report released yesterday, IAEA said new discoveries and re-evaluations of known conventional uranium resources would […]

Total: Crude reserve replacement now $80/barrel

World demand for oil may soon outstrip supply as the cost of replacing reserves reaches $80 a barrel, according to the head of Total SA, Europe’s third- largest petroleum company. “If we aren’t careful in the next few years there will be a shortage of oil and gas to cover demand,” Total Chief Executive Officer […]

North Sea Oil Reserves Could Be Up To 30 Billion Barrels

A report broadcast on BBC Scotland has tonight made the claim that a further 30 billion barrels of oil could still be available in the North Sea. This figure is roughly the same as the amount of oil which has so far been extracted and has surprised many. However, it may not be quite as […]

Iraq’s Oil Exports Increase to Top Mark Since Invasion

Iraq’s oil production and exports have risen to their highest levels since the March 2003 U.S.-led invasion, the Oil Ministry said Monday. The country’s exports reached 2.11 million barrels a day in March while the total output stood at about 2.5 million barrels a day, spokesman Assem Jihad told The Associated Press. “The figures in […]

Only Rosneft Production Rising

LUKOIL has admitted for the first time that its production is falling. It fell 3.3 percent in the first quarter of the year. The company said it would have the situation resolved by the end of the year. Gazprom Neft has not been able to do so for two years, however, even after taking such […]

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