Oil price to fall as Saudi Arabia resists cut: report

MILAN (Reuters) – The price of oil will probably keep falling as long as Saudi Arabia resists pressure from other OPEC member states to cut production, according to the country’s former oil minister. Sheikh Ahmed Zaki Yamani told Italian daily Corriere della Sera in an interview published on Tuesday member states that were only interested […]

Biofuels to follow coal into liquid market – E.ON

PRAGUE, Oct 20 (Reuters) – Biofuels will follow coal and eventually mature into a liquid market with risk management tools as its consumption rises, a senior E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz) Trading official said on Monday. “Many people accept coal is in many ways following the oil markets. I remember in the 1980s […]

Clean coal for cars has a dirty side

Getting liquid fuels from coal would not reduce carbon emissions, and would likely increase them If the United States tried to achieve independence from foreign oil by making gasoline from vast reserves of domestic coal, the country would probably end up increasing its carbon emissions, a new study concludes. Researchers found that in realistic scenarios, […]

Economic woes may give planet a breather

NICOSIA, Oct 7 (Reuters) – A slowdown in the world economy may give the planet a breather from the excessively high carbon dioxide (CO2) emissions responsible for climate change, a Nobel Prize winning scientist said on Tuesday. Atmospheric scientist Paul J Crutzen, who has in the past floated the possibility of blitzing the stratosphere with […]

Study: California energy efficiency pays off

Polices to curb consumption have economic stimulus, UC Berkeley prof says SAN FRANCISCO – California has saved about $56 billion in electricity costs and created 1.5 million jobs over 35 years by using energy more efficiently than other states, according to a new study. The report released Monday by an economist at the University of […]

U.S. solar boom to include manufacturing, too

The United States is poised to become the world’s largest user of solar power in the next decade, experts say, thanks in part to Silicon Valley innovation and the country’s vast land area and amount of sunshine. And that title will bring an unexpected benefit: Manufacturing jobs arriving in the United States rather than being […]

European auto woes latest hit to U.S. suppliers

DETROIT (Reuters) – An abrupt downturn in European auto demand represents the latest hit to U.S. auto suppliers, already struggling with the fallout from a U.S. auto market that has plunged to 15-year lows and could drop further. In the span of a week, TRW Automotive Holdings Corp (TRW.N: Quote, Profile, Research), Johnson Controls Inc […]

The Folly Of A Depression Thesis

As I spend more and more time pondering the actions of our Treasury and Fed, along with the last Depression and the actual steps taken by various administrations (most specifically Hoover and FDR), I come to the conclusion that those who claim to know so much about it, and how to prevent it, are in […]

Engineers warn of imminent oil shock

Engineers are warning politicians that the lull in oil prices will be short-lived, and New Zealand is headed for sustained job losses unless it boosts energy efficiency efforts. Senior North Shore City transport strategist Archer Davis, speaking on behalf of Engineers for Social Responsibility, said a conservative estimate of a 4 per cent annual decline […]

Environment will wither whoever win US election

Eager anticipation of the next American president offering a dramatically different policy on climate change is being tempered by the chill winds of the financial crisis. Barack Obama or John McCain will inherit a blighted economy, a ballooning deficit set to reach $1 trillion and a political landscape in upheaval from the market turmoil of […]

Copper thefts leave youth sports scrambling for field time, answers

… The rising price of scrap metal, driven by demand to fuel the world’s emerging economies, has led to a steady increase in thefts across the United States and around the world. In the past five years, copper prices have risen about 300 percent, from about a dollar a pound at scrap yards in 2005 […]

The Depression: A Long-Term View

…In the past, once a depression wreaked its havoc, the world-economy picked up again, on the basis of innovations that could be quasi-monopolized for a while. So, when people say that the stock market will rise again, this is what they are thinking will happen, this time as in the past, after all the damage […]

Petrobras: Dead In The Water

Brazil’s oil giant Petrobras (PBR) on Friday postponed the disclosure of its new business plan so that it could evaluate the impact of the global financial crisis. The global credit crunch has smashed the deepwater building program at Petrobras. Whether it can pay for current orders is questionable. The Brazilian state investment council voted to […]

Alberta diesel shortage leads to spike in fuel theft

The diesel fuel shortage is having a domino effect in Alberta “We’ve lost over $20,000 worth of fuel,” Strauss said “We’ve got no choice. We have to fuel up in the mornings ’cause any machine parked out there is just a sitting duck for these guys. If they’re rigged up properly, in five minutes they […]

Energy chief urges OPEC not to cut oil production

The head of the International Energy Agency on Monday urged OPEC not to cut production so as not to stifle the still-growing economies of countries like China, India and Brazil. “Providing enough oil for those countries is a very important element of maintaining global economic prosperity,” Nobuo Tanaka said at a news conference in Paris, […]

Tips for new paupers

Little did I know that when I lost everything last year, I was doing research. At the time I thought it was just stupidity or bad luck or both. But now that the economy My wife and I fell through many layers of poverty in a few months. First we revisited the genteel poverty known […]

Was ‘Peak Oil’ a Multi-Billion Dollar Hoax?

Crude oil prices started their astonishing price rise in January of 2007 right on cue for a normal seasonal rise into the summer. By August, prices were accelerating and continued higher going into the end of 2007. The usual seasonal year-end decline was hardly noticeable. As 2008 began, crude prices seemed to be a one-direction […]

As oil prices fall, push for alternatives may ease

Producing new cars can take years, while crude prices can rise, fall in days Just four months ago, a conference here on electric cars drew four times as many people as expected. District fire marshals ordered some of the crowd to leave, and the atmosphere was more like that of a rock concert than an […]

Taliban Resurgence and the Geopolitics of Oil

At a time when the fabulous Kashagan oil fields in Kazakhstan are expected to come on stream in 2013, when Washington hopes to reverse the tide of Russia-Turkmenistan energy cooperation, when volatility in the southern Caucasus impedes the advancement of new trans-Caspian pipelines, then, Afghanistan bounces back as the most realistic and viable evacuation route […]

Sun + Water = Fuel

With catalysts created by an MIT chemist, sunlight can turn water into hydrogen. If the process can scale up, it could make solar power a dominant source of energy.“I’m going to show you something I haven’t showed anybody yet,” said Daniel Nocera, a professor of chemistry at MIT, speaking this May to an auditorium filled […]

Peru Accused Of Failing To Protect Amazon Tribes

Brazil has 26 confirmed native Indian tribes that live with little or no contact with the outside world, surviving by hunting and gathering as they have for centuries. Survival International, a group that campaigns for tribal people, says there are at least three groups on Peru’s side of the border. “The (Peruvian) government has made […]

Nigeria: FG Opts for Massive Importation of Fuel

With the imminent zero production of petroleum products in the country following the state of all the refineries, the Federal Government has decided to embark on massive importation of fuel to prevent scarcity and queues at the filling stations. Stakeholders in the downstream sector of oil industry had expressed fears that the inactive state of […]

New interest in old energy source

The push for more power from renewable fuels has renewed interest in one of the oldest energy sources: wood. While airwaves have been permeated by advertisements for solar and wind power, last year wood generated more net electricity in the U.S. than those two up-and-comers combined.New wood-burning electricity plants are again being proposed from Massachusetts […]

Analysts: 1 million barrel OPEC cut not enough

A production cut of even 1 million barrels per day at OPEC’s upcoming emergency meeting is unlikely to reverse slumping crude oil prices in the short term, said analysts Sunday, amid mounting calls by several cartel members to take decisive action to keep prices at the US$80 per barrel level. The Organization of Petroleum Exporting […]

Price Fixing Anniversary

OPEC seems determined to take back control. The crash back to $70 reduced cash flow so severely that everyone is now paying rapt attention and if you can believe the news reports they are ready to take quick and decisive action once again. The fear prompting their call to action this time is the rapidly […]

Gordon Brown calls on energy firms to pass on gas and oil price falls

As winter approaches, the Prime Minister said it was important that suppliers cut fuel bills to reflect the savings they had made as a result of declining wholesale prices.Consumers have been hit with two sets of price increases so far this year, taking up the average dual fuel – gas and electricity – bill from […]

Asia oil brokers brace for crisis-induced shakeup

Asia’s oil broking industry is on the brink of its biggest shake-up in a decade as a plunge in trading volumes forces many to scramble for new markets, rethink alliances or consider shutting up shop. The global financial crisis has shaken confidence in once blue-chip counterparties to its core, forcing many traders and companies to […]

Freedom to move around rises as gas prices fall

The cost of gasoline hit Tammy Williams hard when she drove her pickup from Baltimore to New Hampshire last weekend to visit her son at Dartmouth College. She spent $450 filling the tank. So she was relieved to find gas near her Northeast Baltimore home yesterday for less than $3 a gallon. At the Sunoco […]

Next president faces another crisis – in nation’s infrastructure

WASHINGTON – As if the next president won’t have enough on his plate – with the implosion of the financial markets, two foreign wars, persistent security threats and a host of other concerns – America’s infrastructure is collapsing. Whether major highways or inland waterways or the electrical grid or a quarter of all bridges, the […]

Sparse plug-ins for electric cars spark creativity

(AP:SEATTLE) Owning an electric vehicle requires more than global-cooling ambitions. It takes guile, planning, sharp vision – a silver tongue – and a 50-foot extension cord. Steve Bernheim knows accessible outlets like a firefighter knows hydrants. He has to – his Corbin Sparrow runs only 25 miles on a charge. “You do guerrilla charging where […]

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