McCain Unveils Energy Plan ‘The Lexington Project’

Sen. John McCain put a name on the strategic energy plan he has been piecing together for the last several days, likening it to President Kennedy calling for a mission to the moon in the 1960s and declaring that the United States McCain

Rural Alaska electric utilities stricken by fuel prices

VILLAGERS AGHAST: Some say they can’t afford to stay any longer; help from state seen as only quick solution. Village electric utilities in rural Alaska, panicked over the sky-high cost of fuel arriving on the summer’s first barges, are appealing to the state for help. The fuel bill for the Alaska Village Electric Cooperative, which […]

Global warming could increase terrorism, intelligence chair says

WASHINGTON (CNN) — Global warming could destabilize “struggling and poor” countries around the world, prompting mass migrations and creating breeding grounds for terrorists, the chairman of the National Intelligence Council told Congress on Wednesday. Climate change “will aggravate existing problems such as poverty, social tensions, environmental degradation, ineffectual leadership and weak political institutions,” Thomas Fingar […]

The Olduvai theory and catastrophic consequences

Our century-old industrial civilization and its luxurious standard of living may be about to end. The energy prime mover of this civilization, oil, is about to drastically dwindle in supply. …It has been the plentiful supply of cheap oil (increasingly from less developed countries) that was the main factor, along with the necessary natural resources […]

Ernst & Young study: US oil reserves holding flat

US proved oil reserves for 40 exploration and production companies increased 2% during 2003-07, reported Ernst & Young in a benchmark study released in Houston. Estimated proved oil reserves held flat in 2007 at 16.1 billion bbl, however, said Ernst & Young, which complied and analyzed annual reports filed with the US Securities & Exchange […]

Shell, PetroChina Look Toward Refining In China

In the wake of China’s recent decision to hike the retail price of gasoline and diesel, PetroChina, Royal Dutch Shell and Qatar Petroleum are looking into building a new refinery and petrochemical facility in China. The joint venture would be Shell’s first plunge into the Chinese refining industry and would grant Qatar a foothold in […]

Fuel shortage at some border stations (Mexico)

Some gas stations here have experienced a gasoline and diesel shortage partly because they haven’t been able to keep up with the high demand of American motorists who are crossing the border to take advantage of cheaper prices. PEMEX gas stations workers said they hope their fuel supplies normalize this week after delays in fuel […]

26 things you can do to RIGHT NOW manage your anxiety

If you aren 2. LOOK AT CASH YOU ARE WASTING without enjoying its benefits, such as lights that get left on, computers that stay on day and night,

Fuel price surge is driving Britons to public transport

Stagecoach, one of Britain’s biggest rail and bus companies, has said that there is growing evidence of a “fundamental” shift in the public’s attitute toward using public transport. The claim comes as Stagecoach revealed that pre-tax profits slipped to Telegraph

Iraqi nod to Chinese oil firms

China’s four oil companies are now qualified to participate in Iraq’s coming licensing round for oil and gas contracts, according to the Iraqi oil ministry. The four, China National Petroleum Corp, China Petrochemical Corp, China National Offshore Oil Corp and Sinochem Corp, are among 41 oil firms that have obtained the qualification. Although developing oil […]

U.S. auto giants race to go small

The auto industry is rushing to adapt to the world of $4-per-gallon gasoline, but the effort is a costly one that could tax America’s homegrown carmakers most of all. From Honda to Ford, all the automakers are ramping up production and design of high-mileage small cars and gas-electric hybrids. But consumers shouldn’t hold their breath […]

Fishing industry says fuel catastrophe is looming (Canada)

With some forecasting a catastrophic outcome, local fisheries representatives from southwestern Nova Scotia have approached the provincial government, asking it to carry out a study on the impact of rising fuel costs on the fishing industry. Part of the thought process is that if the industry has to turn to government, DFO or others for […]

Fuel protests gather momentum (UK)

Hauliers’ fuel protests are continuing across the UK in advance of the industry day of action planned for 2 July. This Saturday (28 June), around 100 trucks are expected to travel slowly along one of of the busiest roads near Wrexham in North Wales. Haulier Stephen Williams of Stephen Wiliams Transport is organising the protest, […]

Declining passengers make for uncertain future for Portland Jetport.

Portland International Jetport is one of dozens of airports across the country that could see a sharp drop in service if high fuel costs trigger a potential “catastrophe” in the airline industry, a business travel advocacy group says. The Business Travel Coalition issued a report this week that said rising aviation fuel prices threaten to […]

Life on the fringes of U.S. suburbia becomes untenable with rising gas costs

ELIZABETH, Colorado: Suddenly, the economics of American suburban life are under assault as skyrocketing energy prices inflate the costs of reaching, heating and cooling homes on the outer edges of metropolitan areas. Just off Singing Hills Road, in one of hundreds of two-story homes dotting a former cattle ranch beyond the southern fringes of Denver, […]

Kuwait says plans 300,000 bpd oil capacity boost

Kuwait plans to raise its oil output capacity by 300,000 barrels per day by mid-2009, Oil Minister Mohammad al-Olaim said on Wednesday, clarifying a report by the official news agency KUNA. “Yes, capacity,” Olaim told reporters when asked about the KUNA report that cited him as saying the OPEC exporter planned an output increase of […]

Updated Corn Ethanol Economics

Executive Summary: The current cost to produce a gallon of ethanol is approximately $3/gal. The current price of ethanol is $2.86/gal, which explains why ethanol producers are shutting down. If corn and natural gas prices remain high, I think ethanol has to rise to something like $3.40-$3.60/gal to make it worthwhile to ethanol producers. So, […]

EIA cuts world 2010 oil output, non-OPEC loss big

WASHINGTON (Reuters) – Crude oil production from non-OPEC countries will not be able to keep up with growing global demand in the next few years, forcing oil consuming nations to rely more on the Organization of Petroleum Exporting Countries for supplies, the U.S. Energy Information Administration said Wednesday. In its long-term energy forecast, the EIA […]

Iran Ships Can Hold Months of Saudi Oil Pledge

(Bloomberg) — Iranian supertankers now in the Persian Gulf could store the equivalent of five months worth of the additional crude oil Saudi Arabia pledged to pump to curb prices, according to ship-tracking data compiled by Bloomberg. Saudi Arabia said it would increase production by 200,000 barrels a day in July, after a summit of […]

As tire prices rise, drivers delay purchases

…Keith Price, a spokesman for Goodyear Tire & Rubber, says the price of oil, now at all-time highs, makes up 60% of the raw materials cost for a tire. Natural rubber, a commodity nearing 28-year price highs, makes up another 25%. Many car owners, already feeling pinched by inflation at the gas pump and supermarket […]

Barrel Fever

Does anyone know how much oil there is in the world? …Here’s how arcane the oil guessing game can get. Saudi’s Ghawar oil field is the world’s largest; it’s been pumping out oil since 1951 and holds 7 percent of the world’s proven reserves. Overall Saudi production has been falling since 2005, yet the number […]

BP May Struggle to Boost Russian Output on Dispute, Old Fields

(Bloomberg) — BP Plc may struggle to revive output growth at its Russian venture as a dispute with the oil company’s billionaire partners escalates and efforts to revive aging fields fall short. BP’s partners in TNK-BP will boycott a shareholder meeting tomorrow and challenge any decisions taken in court except those regarding dividend payments for […]

Heat from the Street

Engineers are experimenting with innovative systems that capture and recycle energy from the heat generated by human bodies packed into train stations or the solar energy absorbed by the asphalt on roads. Depending on the level of activity, the human body generates about 60 to 100 Watts of energy in the form of heat, about […]

An alternative scenario for oil

First, all the major Asian consumers of oil have now hiked retail prices. India, Indonesia, Malaysia, Taiwan and now even China have hiked retail prices by 12-40 per cent. This is a major break in pattern as these governments have now seemingly accepted the unsustainability of continuing to subsidise consumption. Having bitten the bullet, all […]

Demand Destruction: A Natural Cure For Peak Oil

“Demand destruction” is a term widely used in literature referencing peak oil hypothesis and the impact of rising oil and gasoline prices on consumption. Basically in lay terms, demand destruction is the reduction of demand for oil and oil derivatives. In other words at a certain price level for oil, or any other product for […]

Yergin: traditional factors responsible for oil prices

One of the leading energy experts in the United States was expected to tell a congressional committee Wednesday that traditional economic factors were responsible for most of the run-up in oil prices and caution against looking for simplistic solutions to one of the world’s most complex markets. Daniel Yergin, the chairman of Cambridge Energy Research […]

China building 1st coal bed methane pipeline to ease energy strains

China has begun construction on its first coal bed methane (CBM) pipeline, which is intended to help ease energy strains. Capable of carrying 3 billion cubic meters of CBM each year, the 35-kilometer line will link the Qinshui Basin in north China’s Shanxi Province with the east-west natural gas pipeline, the China National Petroleum Corp., […]

Indonesia: Searing coal prices cause a frenzy among investors

Another problem is soaring coal demand. With coal prices up 169 percent in the past 12 months, producers are competing to sell their products on the higher-priced export market. In 2007, out of 215 million tons of Indonesia’s total coal production, 163 million tons, or 76 percent, were sold overseas, leaving just 52 million tons […]

Nigeria: Chevron Union Shuts Down Offices Nationwide

Petroleum and Natural Gas Senior Staff Association of Nigeria (Pengassan) and Nigerian Union of Petroleum and Natural Gas Association (NUPENG) union members of local Chevron unit yesterday began strike at the Chevron’s administrative offices throughout the country. The action has led to the closure of all Chevron offices in Nigeria but production has not been […]

South Africa Can’t Afford to Neglect Energy Needs of Mines

SA is in danger of losing its day job. We’ve moonlighted with manufacturing, but mining still lies at the core of the economy. Now we have electricity cuts that target the mines. The end of the rolling blackouts makes it easy to forget that the mines are still hurting. Six months ago, Eskom imposed a […]

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