Gas under $4? It may be closer than you think

Drivers could see gasoline prices below $4 by Labor Day, and even a nickel decline within days, after oil prices fell again Friday. In the last four days, oil prices have dropped more than $16 a barrel, as the market looked optimistically at calm weather, U.S.-Iran negotiations, failing bank rescues and lower demand for gasoline. […]

Airline goes out of business

Vintage Props and Jets, a New Smyrna Beach-based commuter airline with an operation at Melbourne International Airport, has ceased operations and filed for bankruptcy protection. For Melbourne International, Vintage’s exit means the loss of about $12,000 in annual landing fees, lease payments and other revenues, airport officials said Monday. FloridaToday

Fishing parties endeavor to stay afloat

Jeff Cohn, owner and operator of AnglerCapeMayCountyHerald

China’s June crude imports from Iran at 18-mth low

China’s crude oil imports from Iran in June halved from a year ago to its lowest monthly level in 18 months, contributing to the overhang of crude stored offshore in Iran, official customs data showed on Tuesday. Iran shipped 1.176 million tonnes, or 286,000 barrels per day (bpd), of crude to China last month, 50 […]

American Petroleum Institute: U.S. Oil Demands Falls

Oil demand was significantly down for the first six months of 2008, the American Petroleum Institute (API) said on July 18 in its Monthly Statistical Report. While U.S. refiners churned out record and near-record amounts of oil products, imports DOBMagazine

Why the oil crunch may grow worse

The fear is that all the easy-to-reach crude has been found. These may be ‘the good old days,’ one expert says. With gasoline and oil costing once-unthinkable barrels of cash, the notion that things in our petroleum-addicted world soon will get worse — maybe much, much worse — is spreading fast. …”As much as you’re […]

Gazprom Keeps the Heat on Europe by Pressing Libya

OAO Gazprom, Russia With that leverage “you can stop states from joining NATO, and you can act as a counterweight to the U.S.,” Day said. Both the Ukraine and Georgia are trying to secure membership in the North American Treaty Organization. Gazprom doubled the amount Georgia pays for natural gas in 2006 as the country

Pakistan-Record jump in oil prices: ‘A move to crush public’

ISLAMABAD-The government on Sunday delivered another blow to the already hard-pressed masses in terms of increasing the petroleum prices by over 14 per cent besides jacking up the rates of the commoners’ fuel namely the kerosene oil and diesel. This is the second increase in petrol prices in one month and sixth time in five […]

Let oil flow to Czechs, Putin says

Prime Minister Vladimir Putin instructed his government Monday to restore the flow of oil to the Czech Republic, which was reduced after the Czechs signed an agreement with the United States to base a missile defense radar on their territory. Since the Russians oppose that system, the slowdown in oil supplies stirred speculation that Russia […]

Australian oil production has peaked: report

Oil production in Australia has already peaked and the alternative fuels industry needs to be dramatically ramped up in response, an expert research group says. After years of a stop-start approach to ethanol production, Australia is fast running out of time to end its love affair with crude oil, much of which is imported, the […]

Pemex Oil Production Falls 11% in June on Aging Field

Petroleos Mexicanos, the state-owned energy company, said oil output fell 11 percent in June from a year earlier as new wells failed to keep pace with a four-year decline in the aging Cantarell field, the nation’s largest. Production dropped to 2.839 million barrels a day in June from 3.206 million a year earlier, the Mexico […]

Coal-fired power stations will lock UK into a high-emissions future, say MPs

The government will come under increased pressure today to ban new coal-fired power stations such as the one planned for Kingsnorth in Kent unless they are equipped to trap and store carbon pollution underground, as a committee of MPs publishes a critical report. The environmental audit committee urges ministers to make it clear that coal […]

Japan ducks rice-crisis solution

The Group of Eight summit of the world’s leading industrial nations held in Japan this month was a missed opportunity for the host nation to take center stage in helping to resolve the world rice crisis. Some relief from the peak rice prices seen in April has already been achieved, in part due to an […]

Britain moves closer to green energy goals

One of Europe’s largest onshore wind farms has won Scottish planning approval and the world’s largest offshore wind project now has two committed backers, boosting Britain’s chances of reaching its ambitious green energy goals. Scottish & Southern Energy has been granted planning permission to build a 456-megawatt wind farm in southern Scotland, while Denmark’s Dong […]

Biofuel from bacteria attracts worldwide attention

Microscopic green bacteria found almost everywhere could one day be used to power the world, and University of Otago researcher Dr Tina Summerfield is helping bring that idea closer to reality. The bacteria grow using solar energy, light and carbon dioxide and produce hydrogen and ethanol, biofuels which are already being used as power sources.Researchers […]

Adding Lime To Seawater May Cut CO2 Back To Pre-industrial Levels

Scientists say they have found a workable way of reducing carbon dioxide levels in the atmosphere by adding lime to seawater. And they think it has the potential to dramatically reverse CO2 accumulation in the atmosphere, reports Cath O’Driscoll in SCI’s Chemistry & Industry magazine.

Science Daily

Population bomb ‘ticks louder than climate’

Global population growth is looming as a bigger threat to the world’s food production and water supplies than climate change, a leading scientist says. Speaking at a CSIRO public lecture in Canberra yesterday, UNESCO’s chief of sustainable water resources development, Professor Shahbaz Khan, said overpopulation’s impacts were potentially more economically, socially and environmentally destructive than […]

Let’s Have Some Love for Nuclear Power

While we may be at a turning point, one enormous question still hangs over this revival of nuclear power in the U.S.: Who is going to pay for it? The construction of reactors in the rest of the world is essentially a government enterprise. Private investment and even public approval are not always necessary. In the U.S., however, the capital will have to be raised from Wall Street. But not many investors are willing to put up $5 billion to $10 billion for a project that could become engulfed by 10 to 15 years of regulatory delay — as occurred during the 1980s. The Seabrook plant in New Hampshire went through 14 years of that before opening in 1990. The Long Island Lighting Company’s Shoreham plant began in 1973, but was shut down by protests in 1989 without generating a watt of electricity, and the company went bankrupt as a result.

Wall Street Journal

Consumers change buying habits, but will it last?

NEW YORK (AP) Every economic downturn changes shoppers in some way. But this time, experts say the new behavior

Senate Democrats push oil speculation bill

WASHINGTON (Reuters) – Senate Democratic leaders will try on Tuesday to move forward legislation to crack down on excessive oil speculation, which many blame for inflating prices of crude oil and gasoline. Sen. Byron Dorgan, of North Dakota, a member of the Democratic leadership, said he hopes to get enough votes this week to allow […]

Oil companies, refiners hurt by refining margins

The same historically high oil prices that are expected to contribute to massive profits for the major oil companies in the second quarter are dragging heavily, once again, on their refining operations. And for companies whose primary business is refining oil and selling gasoline, second-quarter earnings versus a year ago could be ugly. Plummeting stock […]

Feds to propose rules for squeezing oil from rock

WASHINGTON (AP) Associated Press

Peak Energy

And What That Means For Food […]As individual regions and nations peak in oil production, the world as a whole gets closer and closer to the day when the global oil keg will reach halfway and then enter into an era of declining availability. Currently, 54 of the largest 65 oil producing nations are in […]

Peak Oil Review — July 21st, 2008

1. Production and Prices 2. China’s Energy Shortages 3. British Petroleum in Russia 4. Energy Briefs 1. Production and Prices The week started out quietly with oil opening on Monday around $145 a barrel and closing about the same. The rest of the week was another story with oil falling by $16 a barrel to […]

Gore’s, Pickens’ Energy Challenges Need Smart Infrastructure

WASHINGTON, July 21, 2008 /PRNewswire via COMTEX/ — Kurt Yeager, executive director of the Galvin Electricity Initiative, is responding to Al Gore’s and T. Boone Pickens’ proposals to reduce America’s dependence on foreign oil with a call to action that is unfortunately relegated to the back seat in their plans. While increased use of renewable […]

OPEC Must Increase Output to Reduce Prices, CGES Says

(Bloomberg) — OPEC needs to raise oil production to reduce crude prices and help global economic growth, the Centre for Global Energy Studies said. OPEC’s forecast for 2008 supply increases from outside the group is unrealistic, the London-based consultant said in a monthly report today. World oil inventories fell for six consecutive quarters before rising […]

Peak oil to hinder world development -UK lawmakers

The looming peak in world oil production will set back international development and threatens to hinder efforts to make poverty history, a report by a group of UK lawmakers said. While oil’s rally to a record high is causing economic pain in developed countries, its impact on international development is being overlooked, the report by […]

Is It Worth Making The Switch From Heating Oil To Natural Gas?

It may be too hot to think about heating your home now, but when Jack Frost comes nipping this winter, so too will the cost to stay warm. Courtney Swartwood pays about $300 a month in the winter to heat her home with natural gas. But she’s not complaining. She said, “We used to have […]

Fear of a food shortage

Fears of a food shortage never have left us. It was front-page news then; it’s front-page news now, with stories spilling out of some of the poorest corners of the world of riots sparked by the rising price of food. And though we don’t face a shortage in the United States, the rising prices of […]

Fishing industry struggling to survive (UAE)

Seen from passing cars, or through the eyes of people on the quayside, the fishing craft jostling for space at Abu Dhabi Mina port offer a striking spectacle that evokes a living tradition in which days and nights are spent battling the elements to land a catch and a livelihood. But closer inspection reveals the […]

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