At $9 per gallon, British driving habits change

LONDON – Pump nozzle in hand, Lisa Atkins keeps a close eye on the digital display rapidly adding up the pounds. Gone are the days when she’d routinely fill the gas tank to the brim. She now has to be more cautious. Ms. Atkins says the surging cost of fuel is discouraging her from taking […]

Israel invests in clean tech as energy crunch looms

At a lab in Rehovot, the man who developed the Arrow missile is consumed with his next mission: making Israel energy independent by using cheap solar power. “The issue of energy is the greatest danger to Israel, because in 30 years there will be no energy means, no oil and no gas, and the use […]

Middle East oil consumption shows strong growth

Middle East oil consumption showed above average growth of 4.4 per cent during 2007 as regional and global production fell for the first time since 2002, according to the recently released 2008 BP Statistical Review of World Energy. The rise in Middle East oil consumption to 6.2 million barrels/day reflected the region’s continued strong economic […]

Can high-tech giants revolutionize solar market?

As companies like Intel Corp., IBM Corp. and Hewlett-Packard Co. have made moves in the solar power space, many have wondered if these high-tech heavyweights could use either their manufacturing or intellectual muscle to push down costs and thereby lower the price of solar power. Perhaps eventually, but not quite so fast.Because of the vast […]

World oil market in fear of terror attack in Saudi Arabia

An attack — or even an attempted attack — by Islamic extremists on Saudi Arabia’s oil sector would have disastrous consequences on the world market and the price per barrel, analysts warn. Of more than 700 people arrested in the course of the last six months in Saudi Arabia, dozens had been part of cells […]

IEA warns of five-year oil supply squeeze

GLOBAL oil markets will remain tight over the next five years, the International Energy Agency has warned, in a gloomy assessment that offers little respite for consumers battered by record high oil prices. The view of the Paris-based energy watchdog, which is funded by the world’s biggest oil consuming nations, helped push oil prices to […]

Some 1.5 Bln People May Starve Due to Land Erosion – FAO

Rising land degradation reduces crop yields and may threaten food security of about a quarter of the world’ population, the United Nations Food and Agriculture Organisation (FAO) said on Wednesday. Food security has been highlighted in recent months as soaring crop prices resulting from poor harvests, low stocks, high fuel prices and rising demand, risks […]

‘UK should call for freeze on the 75 coal power stations planned for Europe’

The UK should lead the way in calling for a freeze on the building of new coal-fired power stations, according to a think-tank report. A Europe-wide block for at least two years on coal investment is necessary if cuts in carbon emissions are to be achieved.The Institute for Public Policy Research (IPPR) says the target […]

Climate change threatens global food and water supply

Scientists from all over the world representing some of the most prestigious national academies of science from the countries of the G8 (Canada, France, Germany, Italy, Japan, Russia, the United Kingdom, the United States, and the presidents of the European Council and the European Commission), Brazil, China, India, Mexico and South Africa have issued a […]

Food Scarcity Blamed On High Oil Price

The current high prices of oil will aggravate poverty and starvation in the world’s undeveloped countries, if urgent measures are not deployed to encourage private access to oil reserves, evolution of technologies and consumption efficiency. Chairman of Spanish Repsol, Mr. Antonio Brufau, who made the assertion at the ongoing World Petroleum Congress (WPC) in Madrid […]

Oil hits new peak above $144 on dollar, supply concerns

SINGAPORE (Reuters) – Oil hit fresh records on Thursday for the fifth time in six sessions, as the dollar fell on gloomy U.S. jobs data and a broad equity sell-off, and a higher than expected fall in U.S. crude stocks raised supply concerns. U.S. crude rose as much as 87 cents to $144.44 a barrel, […]

Reflections: The Death of Gallium

The element gallium is in very short supply and the world may well run out of it in just a few years. Indium is threatened too, says Armin Reller, a materials chemist at Germany’s University of Augsburg. He estimates that our planet’s stock of indium will last no more than another decade. All the hafnium […]

Clean tech: Green energy is the modern gold rush

The “clean tech” sector has bounced back from the credit crunch with new global figures showing a resurgence of interest from investors in alternative energy – labelled a “green Klondike” that could reach $600bn annually by 2020. New Energy Finance, a specialist consultant which has compiled the latest figures for the United Nations environment programme, […]

Giant solar tower could power the future

A new energy concept called a solar tower could generate enough electricity for 200,000 homes. Looking like a giant smokestack, it would release no noxious fumes — just sun-heated air. Demonstrated more than 20 years ago, the basic design calls for solar collectors to warm the air near Earth’s surface and then channel it up […]

Happy Oil Dependence Day

We are drowning in the “impostures of pretended patriotism,” used to cover the lies that got us into Iraq, the defense of torture and the violation of our basic liberties. In the name of patriotism, we presume a God-given American right to reorder the world to our liking, masking the vice of unfettered greed as […]

Gas guzzlers and ‘ghostburbs’

High oil prices are having a dramatic effect in the US, with public transport riding high and SUV production falling. Now, energy policy has moved to centre-stage in the coming presidential election. SUV factories closing, bicycle sales and train use rocketing, commuter belts becoming “ghostburbs” as residents flock to the inner cities . . . […]

Some Americans will drive trucks, no matter cost

LAWRENCEBURG, Indiana (Reuters) – Seven women pile out of a massive white Chevrolet Suburban and unload the vacuums, mops and buckets of their trade. Gasoline may cost $4 a gallon, but the Chevy’s driver and business owner Leesa Baldwin has no intention of downsizing to a smaller vehicle. “I love my Suburban. I don’t like […]

Petrobras Finds Signs of Large Oil Deposits Near Tupi

(Bloomberg) — Petroleo Brasileiro SA has found signs of large oil deposits near its Tupi field, the largest Western Hemisphere oil discovery since 1976, the state- controlled company’s chief executive officer said. “Today we have information about the areas and the indication of the existence of hydrocarbons,” Jose Sergio Gabrielli, Rio de Janeiro-based Petrobras’ chief […]

For many, golden years mean less travel, more work

When Lynda and Don Perdew retired, they sold their home in Southern California and used the money to buy a 37-foot recreational vehicle. Then they set out to see the country. That was 10 years ago, and the Perdews are still on the road. But now they’re taking shorter trips and staying longer in each […]

Fighting Petrofraud on the Fourth of July

According to Reuters, April petroleum consumption in the United States went down 3.9% from March, to the lowest level for any April in six years. Well, done, America! Keep it up (or, down, as the case may be)! June will be holding an even bigger surprise, but we won However, in December 2007, shoppers stayed […]

Midwest Airlines heading toward bankruptcy?

Midwest Airlines is officially on bankruptcy watch, following news it will reduce its fleet by half and lay off hundreds of employees. According to the Milwaukee Journal Sentinel, Midwest executives are hoping to restructure the airline’s finances within 30 days, after which the carrier will be more or less out of cash. Part of that […]

What should Big Oil’s role in Iraq be?

There is no question that Baghdad needs the expertise and capital of international oil companies to kick-start its oil industry. Thirty years of war, sanctions and poor government have left the country’s oil infrastructure in tatters. Despite having the world’s third-largest proven oil reserves, Iraq’s production of 2.5 million barrels a day is only the […]

India: Bangalore heading for fuel shortage

Is the city heading towards a dry-out scenario? It is already facing a fuel shortage of 30%. Plus oil companies have “unofficially” asked bunk owners to go slow on “regular” petrol/diesel and focus on “premium” products. The rationing has started and regular petrol is out of stock, say many consumers. Times of India

British truckers protest fuel prices in London

Hundreds of truckers drove to Britain’s Parliament on Wednesday to protest the rising cost of fuel. Police closed a section of a highway into the capital to let the trucks gather, then escorted the 200 trucks in convoys of 20 into the center of town. Dozens of protesters on foot gathered outside the Houses of […]

Namibia: Fuel frenzy guts fisheries

NAMIBIA’S fragile fishing industry faces unprecedented challenges in the face of a shoal of rapidly rising fuel prices, and some companies could find themselves fighting for their lives. Ronnie Coppen, Managing Director of Sea Flower at Luederitz, told The Namibian yesterday that the industry had never experienced “anything on this scale”. Namibian

Food and bev industries struggling to cope with fuel costs

The high cost of fuel is wreaking havoc with some food and beverage industries worldwide, with demands for government aid increasing by the day. Winemakers in the south of France have vandalized supermarkets and burned two police cars in the southern city of Montpellier. The protest by vintners last week was in response to skyrocketing […]

Toyota struggles to meet small car demand

The surge in popularity for small cars and fuel-efficient hybrids has left Toyota facing an unusual problem: deepening shortages of popular models such as the Prius hybrid. A limited inventory of small cars hurt Toyota, which reported a 11.5 percent drop in U.S. sales in June. In stark contrast, Japanese rival Honda Motor Co reported […]

Era of cheap oil is gone, Venezuelan expert says

Oil prices will no longer fall back to the low levels of previous times, Venezuelan expert Alvaro Silva Calderon warned Wednesday in Madrid. ‘It is difficult to know where the ceiling could be’ for rising oil prices, Calderon said in an interview with Deutsche Presse-Agentur dpa during the 19th World Petroleum Congress (WPC) in the […]

Nigeria’s Shut-In Oil Down To 625,000 Billion/D-Oil Min

Nigeria’s total oil output will return to 1.9 million barrels a day within days, as previously shut-in facilities hit by militant attacks return to production, Nigeria’s Oil Minister Odein Ajumogobia told Dow Jones Newswires Wednesday. “The most up to date outage number is about 625,000 barrels a day. We have Bonga returning to production and […]

Crude Oil, demand and what this means for agriculture!

I just heard a new phrase in reference to crude oil, it is in a AGWeb

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