Australia: No credit as oceans turn sour

A recent report from the Antarctic Climate and Ecosystems Co-operative Research Centre claimed that carbon dioxide in the atmosphere is at its highest level in 650,000 years, and possibly 23 million years, and half has been dissolved in the oceans, making them more acidic. Australia has a direct stake in the ocean acidification problem: it […]

DEALING WITH DISASTER / ‘Climate refugees’ on the increase

The number of migrants is rising so quickly that it might destabilize the world. The IOM’s general meeting in November defined “climate refugees” in a broader sense to include people who have resettled within a country. The organization called for building a new international framework designed to support climate refugees separately from refugees who have […]

Big Oil’s ’secret’ out of Iraq’s closet

It is not about the “war on terror”. It is not about weapons of mass destruction. It is not about “freedom and democracy to the Iraqi people”, or to the “Afghan people”. It is not about “Islamofascism”. It is not about a Pentagon-coined “arc of instability” from the Middle East to Central Asia. New evidence […]

UN’s climate change guru sees record oil price as a positive

MADRID (AFP) “High oil prices also improve the competitiveness of renewable sources of energy and make it more interesting to focus on energy efficiency,” he added. Agence France-Presse

The year everything changed

[Sydney – ]The stormclouds are gathering. Our market has plunged below 5000 for the first time in two years, oil prices are soaring, America is in (unofficial) recession and the Reserve Bank is clearly worried about the home front. After years of partying, many believe it’s time for the inevitable hangover when gloom and doom […]

The energy panic

The fundamental lessons for a country suddenly facing an energy crisis and an uncertain economy ought to be clear enough. Drive slower — when you have to drive at all, that is. Seek alternative forms of transportation. Turn off the lights you don’t need, and don’t be wasteful. Oh, and by all means, don’t go […]

Key EU lawmaker proposes new 2015 biofuel target

PARIS, July 4 (Reuters) – A key European Union lawmaker said on Friday he had broad parliamentary backing to propose changing the EU’s target for biofuels so that 4 percent of road transport fuels come from renewable sources by 2015. Claude Turmes told Reuters one-fifth of those renewable fuels would have to be either second […]

Only seven years left for global warming target: UN panel chief

PARIS (AFP) The UN negotiations “must progress rapidly, otherwise I am afraid that not only future generations but even this generation will treat us as having been irresponsible,” said Pachauri. “The EU has to lead. If the EU does not lead, I am afraid that any attempt to bring about change and to manage the […]

Food and climate crises ‘linked’

Climate change will worsen the world’s food crisis, the UN has forecast. Food and global warming are interconnected, said Yvo de Boer, executive secretary of the UN Framework Convention on Climate Change.“They are not competing with each other on the international agenda.” “It is absolutely right that the food issue is receiving a lot of […]

EU shrugs off biofuels complaints, sticks to 2020 target

BRUSSELS, Belgium: The European Union will ignore critics who accuse it of helping to boost food prices by embracing an ambitious and binding target for the use of biofuels, officials said Friday. The European Commission is sticking to its proposal that biofuels account for at least 10 percent of energy used by the EU’s huge […]

Companies begin quest for oil, gas off Florida

PENSACOLA, Fla. (AP) The early activity here stems from a 2006 Congressional compromise that allows drilling on 8.3 million acres more than 125 miles off the Panhandle

Talking Points For An Energy Crisis

The Nation: In The Face Of The Oil-Price Crisis, America Had Better Come Up With A Plan Airlines are cutting back on water for plane toilets to save weight and fuel. They had better come up with a better business plan than that. And in the face of the burgeoning oil-price crisis, America had better […]

Oil prices are probably going up no matter what we do

…Oil has zoomed to surreal levels, briefly hitting a record high of $145.85 a barrel in trading Thursday morning. That The International Energy Agency, in a troubling new report, predicts that the supply-demand picture will worsen beginning in 2011, with spare production capacity falling “to minimal levels” by 2013. Global demand will grow from 86.9 […]

Power Hungry

As Russia becomes more aggressive regarding its natural gas supplies, Europe faces a whole new energy crisis. Oil may be headed for $200 a barrel and the price of everything from wheat to gold set to cause yet more ructions in world commodities markets, but for European businesses, households and governments, natural gas may be […]

Vietnam Suspends Gold Imports, Follows FDR’s Great Depression Lead

Introduced in 1978, the Vietnamese dong is another example of fiat money gone wrong. Inflation is now clearly out of control. Inflation soared 27% over the last 12 months through June. And inflation is still climbing as crude oil and other commodities prices continue to hit new highs. The dong is down just 3.7% this […]

The last all-premium airline may vanish

The last of the transatlantic all-premium-class airlines could soon vanish, but not because of bankruptcy MSNBC

IMF: Food-fuel surge puts poor countries at ”tipping point”

Poor countries are increasingly threatened by the surging food and fuel prices, which is eating up reserves and seriously frustrating poverty reduction efforts, the International Monetary Fund (IMF) said in a broad 162-country survey. The report said that the impact is being felt globally but is most acute for import-dependent poor and middle-income countries confronted […]

KZN fuel protest to bring country to a halt (South Africa)

The KwaZulu-Natal Transport Alliance, Cosatu and KZN Taxi Council will be embarking on a massive strike next Wednesday, leaving millions of people without transport on that day. The chairperson of the KZN Transport Alliance, Eugene Hadebe, said they were angry about the continuing increases in petrol price because they were not only affecting them, but […]

Traditional fishing lifestyle in south Thailand under threat

Idling on the muddy sands of Thailand’s coastal deep south, fishing boats hand-painted in lurid primary colours languish while their owners look on helplessly. Traditional fishing, once a thriving industry in southern Pattani and Yala provinces, has been reduced to a dwindling niche activity as fishermen lose out to large commercial firms and soaring fuel […]

Fourth of July feast more expensive this year

Gasoline and fireworks aren’t the only things explosively high-priced this Fourth of July holiday weekend. According to the American Farm Bureau Federation Marketbasket Survey, retail food prices at the supermarket continued to increase in the second quarter of 2008. The informal survey shows the total cost of 16 basic grocery items in the second quarter […]

Chrysler At Risk Of Bankruptcy

A JPMorgan analyst warned that Chrysler is at risk of bankruptcy as it is hit by the triple force of high pump prices, an economic slowdown and an expected decline in sales of trucks. Other than bankruptcy, the next viable option for the third largest vehicle maker in the U.S. would be to sell its […]

Motorists rethink driving habits as gas prices soar higher at the pumps

A Los Feliz resident walks to the nearby post office four blocks away from her home instead of driving to keep from paying the continually increasing cost of gas. “I’m walking around my neighborhood a lot more now,” Jennifer Abbott said. “I actually get to stop and talk to my neighbors while they walk their […]

Venezuela calls on OPEC to subsidize oil for poor countries

Venezuelan President Hugo Chavez Thursday called on the OPEC cartel to absorb the costs of the oil import bills of the world’s 50 poorest countries, predicting that the price of crude is “going to continue rising.” “OPEC, or some of its members, should take the responsibility to supply these countries through special mechanisms, subsidies, donations, […]

Oil Demand to Outpace Supply Growth in the Medium-Term – IEA

The International Energy Agency has indicated in its medium-term assessment that global supply will find it hard to meet sharply rising demand over the next five years, contrary to expectations in some industry quarters that conditions may soften to bring down the record-high oil prices, according to Dow Jones. The agency’s assessment, which forecasts conditions […]

Attack on nuclear sites means war, says Iranian commander

Tehran – An Iranian military commander warned Friday that any attacks against Iran’s nuclear sites would mean the start of a war, official news agency IRNA reported. ‘Any military action against (nuclear sites in) Iran would mean start of a war and the Iranian reaction would definitely make the enemy regret both its decision and […]

Oil at $300

You would think that this story is right out of science fiction. But the facts appear to be that the US Democrat-controlled Congress intends to destroy the Republican middle class with $11 per gallon gasoline. The Democrats The multi-millionaires like billionaire Senators John Kerry & Jay Rockefeller, financial speculator George Soros, filmmaker Michael Moore, and […]

Michael Klare: Life at the summit

Energy experts continue to debate whether the world has already reached a peak in global oil output or if the moment of maximum yield still lies years ahead. But if we could look back to today from 50 years hence, the difference between a peak in 2008 or, say, 2015 is largely immaterial: for all […]

Peak Resource Supply & World Economic Crisis

…In an easily measurable timeframe of no more than 2 or 3 years from now, by 2011 or 2012, OECD decision makers will have to Models for change away from fossil fuel burning exist, including the Kyoto Treaty and possible transition programmes based on the IMF framework for Special Drawing Rights, for member countries confronted […]

Biofuels behind food price hikes: leaked World Bank report

LONDON (AFP) – Biofuels have caused world food prices to increase by 75 percent, according to the findings of an unpublished World Bank report published in The Guardian newspaper on Friday. The daily said the report was finished in April but was not published to avoid embarrassing the US government, which has claimed plant-derived fuels […]

EPA considers requests on easing ethanol rules

Fuel rules burden corn production, House Republicans complain in letter The Environmental Protection Agency said it’s reviewing congressional requests to relax rules mandating the use of ethanol, which some lawmakers say is straining corn supplies. Fifty-one House Republicans signed a June 27 letter to EPA Administrator Stephen Johnson saying that reduced production of corn, the […]

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