For security, a West Coast oil reserve

Energy security is an essential component of California’s economic stability. International conflicts, whether expressed through terrorism, insurgency or organized crime, threaten the supply of oil necessary for fueling our regional economy. The federal government should take action to mitigate the impact of disruptions to California’s oil imports. It should expand the Strategic Petroleum Reserve to […]

Who will lead by example on climate change?

The Center for Environment and Population, a consortium of university researchers and environmental advocacy groups, last week released a report on how the American life style plays a direct part in climate change. Because of suburban sprawl and its obligatory lawns, malls, and roads, each American in effect takes up 20 percent more land than […]

Fuel economy drive seen powering turbo boom

DETROIT (Reuters) – Underpowered and unprofitable, a generation of small cars from Detroit has sputtered in the marketplace. “Among other pejorative terms, dealers have sometimes referred to subcompacts as beer cans — meaning it’s a bunch of metal and not much more,” veteran auto investor and executive Jerry York told the Reuters Autos Summit in […]

Saudi needs oil above $49 to avoid deficit; Qatar break-even $24: IMF

DUBAI: Saudi Arabia, the world Oil prices have fallen drastically in the past two month, shedding over $50 in value since they hit $147 a barrel in July, raising concerns over the continued strength of Persian Gulf Arab economies. Saudi Arabia, the Middle East largest economy, depends on oil and gas sales for 90% of […]

How and Why the Republicans Will Win and a Police State Established

THE BORG ONLY LOSES IN THE MOVIES Matthew Simmons predicts by 2015 the world will, in the BEST case scenario, be pumping no more than 65 million barrels per day of crude. Since this is TYT i will just say Matthew Simmons is arguably the most deeply knowledgeable single person in the world on the […]

WITNESS: Speculation and sandwiches as OPEC burns night oil

VIENNA (Reuters) – Most meetings of the Organization of the Petroleum Exporting Countries are tagged “extraordinary”, but some are more extraordinary than others. […] The 149th meeting of OPEC, held earlier this month at its Vienna headquarters, was officially an ordinary meeting, meaning it would cover unexciting regular business, such as accounts and appointments. But […]

Oil shale is a problematic fuel option

There is both good news and bad news about oil shale. The good news is that it is plentiful. Around the world, there are thought to be roughly 3 trillion barrels of oil locked in oil shale deposits. And more than half of that is in the United States. Most of the U.S. oil shale […]

No quick resolution to food versus fuel debate

ST. LOUIS, Sept 19 (Reuters) – The government mandate for a much more aggressive U.S. policy to produce crop-based fuels is less than a year old but it has spurred one of the biggest battles within the agricultural industry in decades. The mandate, included in a landmark energy law signed in late 2007, set off […]

EU biofuel panic threatens planet – Brazil envoy

BRUSSELS, Sept 19 (Reuters) – Europe’s heated debate over biofuels risks weakening one of the world’s best tools to fight climate change and one of the developing world’s best hopes for economic growth, Brazil’s ambassador to the EU said on Friday. “What I fear is the debate over biofuels has taken on a very emotional […]

Nashville pumps dry after panic about rumor of no gas

(CNN) — Call it a self-fulfilling prophecy: An estimated three-fourths of gas stations in the Nashville, Tennessee, area ran dry Friday, victim of an apparent rumor that the city was running out of gas. “Everybody has just gone nuts,” said Mike Williams, executive director of the Tennessee Petroleum Council. He said he has no idea […]

Peak Oil Review – Sept 15, 2008 by Tom Whipple

1. After the hurricanes 2. OPEC, production, and prices 3. In the Congress 4. Briefs 1. After the hurricanes A last minute jog to the east left most Houston refineries without major wind and water damage from Ike; however the hurricane caused unprecedented damage to the electric grid around Houston and in western Louisiana. Some […]

Peak Oil and Nuclear Power

Which is most technically feasible to scale? Coal? Carbon emissions Nuclear? The USA has 104 operating nuclear power plants. Scaling up by a factor of six would require 624 plants, or 520 new ones to replace crude oil totally. They cost about $4-5 billion each. For this, we would pay $2.34 trillion. We import 10 […]

Panic, Consolidate, Game Over

…Big news was expected from my analysis, and my Hat Trick Letter newsletter. We got it! By the way, AIG was not on the radar for numerous analysts. It was on my radar, a secondary radar. The big banks are primary for my observation and monitor. WE ARE WITNESSING A CONCENTRATION OF RISK, OF RUINED […]

Convert to LPG Aussies urged

Former GM Holden engineer and safety campaigner Dr Laurie Sparke wants Australians to convert their cars and trucks to LPG and natural gas to avert what otherwise will be a catastrophe for the country – a shortfall of transport fuels. Dr Sparke told a Society of Automotive Engineers conference across the Tasman that Australia was […]

Pakistan: All fuel subsidies withdrawn

ISLAMABAD: The government decided on Friday to eliminate subsidies on oil and gas and to phase out the subsidy on electricity by June 2009 under a plan to stabilise the economy. Announcing an economic package at a press conference, Finance Minister Naveed Qamar said it was aimed at bringing about macroeconomic stability, narrowing down the […]

UAE: Massive fire at oil depot at Sharjah’s Port Khalid

Sharjah: A massive fire broke out at a storage facility of an oil refining company located in Sharjah’s Port Khalid at midnight. At least two people have been injured. Officials said on Saturday that the cause of the blaze is under investigation. They also said that firefighters and the Civil Defence were trying to prevent […]

How Much Will Gustav and Ike Affect Gas Supplies?

Shortly after Hurricane Ike hit, I wrote an article called Implications of a Ten-Day Refinery Outage. It is a few days later, and we know a little more. The purpose of this article is to give an update on the situation. Based on what I am seeing now, we are likely to see significant gasoline […]

For good neighbours, live in a quiet, car-free street

Mrs A lives in Dovercourt Road in north Bristol and considers five people on her street as friends. But Mrs B, who is roughly the same age and lives round the corner in a very similar house in Muller Street, has only one friend. The difference, says a study, has nothing to do with personality, […]

Michael Klare: Palin’s Petropolitics

In the clinical terminology of political science, Alaska is a classic “petrostate.” That is, its political system is geared toward the maximization of oil “rents”–royalties and other income derived from energy firms–to the neglect of all other economic activities. Such polities have an inherent tendency toward corruption because of the close ties that naturally develop […]

Cooking newbies turn to home dining to cut costs

PITTSBURGH (AP) “I’ve been going to the grocery store a little bit more frequently,” Keyes says, laughing sheepishly at her previous lifestyle. “It saves you a lot more money if you just buckle down and focus on eating at home.” Keyes’ cooking ventures aren’t unusual

Blocking the Sky to Save the Earth

By THOMAS HOMER-DIXON and DAVID KEITH TO the relief of climate scientists around the world, it appears that the polar ice cap hasn A couple of years

Alitalia airline cancels flights

Alitalia has cancelled a number of flights from Rome’s Fiumicino airport, increasing fears that the carrier may soon go into liquidation. The airline confirmed that a number of flights have been cancelled, but denied it had run out of aviation fuel. On Thursday, a consortium withdrew a rescue offer for Alitalia due to opposition from […]

Preparing for energy descent… A genuine, traditional village

NEW ZEALAND – The world is changing rapidly and as a civilization we are ill prepared for what is coming. The decline of the fossil fuel era will trigger profound changes to the way complex societies function. Employment, industry, economic activities, government functions will all change as oil, gas and coal go into terminal decline. […]

Nigerian militants step up ‘oil war’ with sixth attack

LAGOS (AFP) – Nigeria’s main armed militant group Saturday said it had destroyed a key pipeline run by Royal Dutch Shell in the sixth attack in nearly as many days and vowed to reduce oil exports to “zero”. Shell reacted by declaring force majeure on its exports from the Bonny terminal to release it from […]

Hydrocarbons – the formula of war

MOSCOW. (RIA Novosti military commentator Ilya Kramnik) – Hydrocarbon prices, new nuclear and hydro-power plants, oil blackmail – energy is now one of the central issues discussed in the world. Even the defense sector is not immune: many analysts tend to view most 20th century wars as wars for energy. The role and significance of […]

Reasons To Be Gloomy

Four things to worry about. In July, I spoke at a London conference with the gloomy title “Darkest Before the Dawn.” That darkness hung over the meeting, as economists and strategists, both behind the podium and in the audience, detailed the growing international anxiety over America’s financial crisis and its potential impact on global markets. […]

House passes oil anti-speculation bill

WASHINGTON (Reuters) – With financial markets in turmoil, the U.S. House of Representatives passed a bill on Thursday intended to prevent excessive speculation in oil and other futures trading despite a White House veto threat. The bill requires the Commodity Futures Trading Commission to set position limits on major oil and agricultural futures contracts and […]

Goldman ‘’super spike” analyst cuts oil forecast

NEW YORK (Reuters) – Goldman Sachs energy equities analyst Arjun Murti, one of the first to predict $100 a barrel crude, cut his 2009 oil price forecast to $110 from $140 a barrel this week due to global economic weakness. “We have moderated our 2008 and 2009 oil price forecasts both to account for the […]

United may not be alone with fuel hedge loss

Airline bets that oil prices would rise looked like a no-brainer this summer. But with oil prices falling, those hedges against rising fuel costs are getting expensive. United Airlines said on Wednesday it is on track to lose $544 million on fuel hedges this quarter. That included $72 million in realized losses and another $472 […]

Government: Gas mileage rise in 2008 vehicles

WASHINGTON (AP) The estimates, which the agency uses on vehicle window stickers on dealer lots, are based on a combination of pre-sale road tests and projections of likely sales of the new model vehicles. But with people buying smaller, more fuel efficient vehicles

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