Top Indian airline Jet posts 2.21 bln rupee Q4 net loss

India’s largest private sector airline, Jet Airways, on Tuesday posted a fourth-quarter net loss of 2.21 billion rupees (55 million dollars) after being hit by high fuel costs, the company said. The loss for the quarter ended March 31 was against a net profit of 880 million rupees the previous year.“We expect the next few […]

A new model for nastiness

If we believe that the downturn is likely to share some of the characteristics of the 1930s, rather than being simply a repeat of the 1970s, then it is unlikely that oil producing countries and commodity exporters will escape problems. Oil prices have been driven up to levels considerably higher in real terms than the […]

Solar Plexus: When, Japan Wonders, Should Clean-Energy Subsidies End?

Renewable energy often seems a little bit like the old joke about Brazil: The technology of the future, and it always will be. Proponents say they want subsidies only until clean-energy is competitive—but that day always gets pushed back further, even with expensive oil. Japan’s the latest country tying itself in knots trying to figure […]

UK: A State of Emergency

With the discovery of North Sea oil & gas, the UK has enjoyed an unprecedented era of prosperity. But now that North Sea production is in steep decline, the UK has rapidly turned net energy importer at a time of rising energy prices. Forecasts for future North Sea production point to UK energy imports running […]

Older cars may get left behind with biofuel bill

[New Zealand:] The Automobile Association says motorists driving older cars without sophisticated fuel injection systems may be left in the cold by proposed biofuels legislation. It is disappointed changes to the Biofuel Bill do not include a requirement for oil companies to guarantee continued supplies of non-biofuel petrol and diesel. Spokesman Mark Stockdale said yesterday […]

Irish scientists probe seaweed power

Seaweed has long been investigated as a potential source of bioethanol, which is typically made from crops such as sugar cane and corn, but technological barriers remain to its commercial use. With rich seaweed resources, “Ireland is poised to become an important player in the next generation of biofuel production,” said Stefan Kraan, head of […]

Progress in technology needed for 25% renewable energy use

Dramatic progress in renewable energy technology is needed if the United States desires to produce 25 percent of its electricity and motor vehicle fuel from renewable sources by 2025 without significantly increasing consumer costs, according to a RAND Corporation study issued today. The study finds that biomass resources and wind power have the greatest potential […]

Biofuel use ‘increasing poverty’

The replacement of traditional fuels with biofuels has dragged more than 30 million people worldwide into poverty, an aid agency report says. Oxfam says so-called green policies in developed countries are contributing to the world’s soaring food prices, which hit the poor hardest. The group also says biofuels will do nothing to combat climate change. […]

Redrawing frontiers: Natural resources firms

Such are the heights that the oil price has reached that just about every politician, be they in the UK or China or America, has made it their business to figure out ways to force the cost of the black stuff back to a more reasonable level, or at least to talk about the need […]

House fails to move gas pump price gouging bill

WASHINGTON — House Democrats failed Tuesday to resurrect a bill to punish price gouging at the gas pump, while maneuvering to block Republican attempts to expand offshore drilling, an idea gaining in popularity amid $4-a-gallon gas prices. Action on legislation that would assure continuation of the ban on oil and natural gas drilling in most […]

Conservation is solution to energy crunch

Remedies for soaring gasoline prices proposed by President Bush and Sen. John McCain would increase America’s capacity to produce more energy from its own resources. What those remedies would not do is reduce the cost of gasoline anytime soon. The president’s demand that Congress immediately lift its bans on exploring for oil and natural gas […]

Fuel, feed costs crippling US catfish industry

Rick Moyer gazes at the sun-charred bottom of the pond next to his 600-acre catfish farm and shakes his head PicayuneItem

Food crisis emerges as a new threat to global security

The UN Food and Agriculture Organization (FAO) has listed 22 countries that are particularly vulnerable due to a combination of high levels of chronic hunger – defined as more than 30 per cent undernourishment – and being net importers of both food and fuel. Countries such as Eritrea, Niger, Comoros, Haiti and Liberia are particularly […]

Penetration (Kunstler)

The telling moment last week was Robert Hirsch’s appearance on the CNBC morning “Squawkbox” financial show in which he proposed the probability of $500-a-barrel oil within “a three-to-five-year time-frame.” Squawkhead Becky Quick was clearly nonplussed by the stolid Mr. Hirsch, author of a (then)-startling 2005 US Dept of Energy report (since referred to as the […]

Indonesian police use water cannon in fuel protest

Indonesian police used water cannons to disperse about 500 protesters who threw rocks and bamboo sticks at police and broke a parliament building fence on Tuesday to protest against a hike in fuel prices. Authorities blocked a key highway as the slogan-shouting activists burnt tyres outside the sprawling parliament grounds to protest against the government […]

Fishermen must wait for help with fuel costs

European Union fishermen learned on Tuesday they must wait until next month for measures to help cushion the huge increase in fuel costs, when fisheries ministers will meet to discuss proposals for financial aid. Several ideas are on the table for experts to consider before the July 15 meeting, including demands from some EU fishing […]

Airlines – Sunset Industry?

The beleaguered U.S. airline industry is struggling to make a ’safe landing’ in a turbulent air of financial and operational crisis. Fleet cancellations, grounding of planes, massive workforce reduction and bankruptcy filings are among the problems that are compounded by the skyrocketing of fuel prices. Adding oil to the fire, consumer confidence and travel demand […]

SUV, truck sellers encounter a tight market

With gas topping $4.50 per gallon, Benny Mondello and his girlfriend decided it was time to sell their gas-guzzling sport utility vehicles in favor of more fuel-efficient cars. Getting 17 or 18 miles per gallon on the highway just wasn’t cutting it. But it seems many people have the same idea these days. GreenwichTime

House Panel Hears Speculators are Key in Oil Prices

Industry analysts say if not for speculators, oil prices would be half of what they are today. Congress is looking into what roles speculators may have played in rising gas prices. The House Energy Subcommittee on Oversight and Investigation heard from regulators, market chiefs and analysts Monday NPR

EU, OPEC says secure oil demand key to spurring investment

The European Union (EU) and the Organization of the Petroleum Exporting Countries (OPEC) agreed on Tuesday that secure future demand of oil is key to spurring oil investment to guarantee supply. The EU and OPEC “recognized the importance of secure future demand for crude and products in spurring timely investment both upstream and downstream, thus […]

Iraq to create new oil company

Oil Minister Hussain al-Shahristani said the Maysan Oil and Gas Commission would be split off from the Basra-based Southern Oil Company and reorganized as an independent company. “This new company will manage and develop all the oil and gas resources in the province,” al-Shahristani told reporters. USAToday

Authorization bill targets DoD energy usage

Stronger leadership, better accounting, and more money are the main drivers in the HouseArmyTimes

Bill McKibben: End of the Open Road

The Land of the Perpetual Frontier Meets $4-a-Gallon Gas In July 1893, 115 years ago, the historian Frederick Jackson Turner told an academic symposium that the American frontier was closed — a shocking notion for a people who’d defined themselves by their steady expansion across the continent. This spring, something just as profound and defining […]

Energy Crisis Puts Marshall Islands on Alert

The urban centers of the Republic of the Marshall Islands (RMI) may be without electrical power next month, and government officials are looking for solutions to the pending crisis. Last week, the RMI’s Chief Secretary wrote to the Ministry of Health, alerting management to “review its internal contingency plan, ensure all preparation and necessary measures […]

Russian Army Trains for Arctic Combat to Defend Resource Claim

(Bloomberg) — Russia’s military is training its forces for combat in the Arctic to protect its claims to resources on the continental shelf. “After the heads of several countries disputed Russia’s rights to the resource-rich Arctic Ocean shelf,” the military “immediately” began adapting its training plans for units “that might be called upon to fight […]

Colombia: Cano Limon-Covenas oil pipeline bombed, shut down

LOS ANGELES, June 24 — Colombia’s 780-km Cano Limon-Covenas oil pipeline was shut down after guerrillas of the Fuerzas Armadas Revolucionarias de Colombia (FARC) dynamited it in two places in the northeastern provinces of Arauca and Norte de Santander. The oil pipeline, which has a capacity of 240,000 b/d, normally transports about 100,000 b/d to […]

DOE to Purchase Heating Oil for the Northeast Home Heating Oil Reserve

The U.S. Department of Energy (DOE) today issued a solicitation seeking to purchase heating oil for the Northeast Home Heating Oil Reserve (NEHHOR) using $3 million in appropriated funds. The Northeast Home Heating Oil Reserve provides an important safety cushion for millions of Americans residing in the Northeast region of the country. Due to the […]

Floridians believe global warming will have dangerous impacts on the state

MIAMI — A new survey of Floridians finds that most are convinced that global warming is happening now and that more should be done by key leaders to help Florida deal with climate change. The survey is the first-ever study of Floridians’ opinions about global warming and was conducted by researchers at Yale University and […]

Hybrid haulage could save fuel and the environment

US members of congress are pressing for government to support the development of medium and large trucks with hybrid electric-combustion engines. The call for the Department of Energy to help out came after hearings by the House of Repesentatives science and technology committee on the future for hybrid trucks, and US pump prices exceeding a […]

Scientist: ‘We’re toast’ if no action on global warming

WASHINGTON (AP) — Exactly 20 years after warning America about global warming, a top NASA scientist said the situation has gotten so bad that the world’s only hope is drastic action. James Hansen told Congress on Monday that the world has long passed the “dangerous level” for greenhouse gases in the atmosphere and needs to […]

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