Big Oil hurt coast, so why doesn

POINTE-AUX-CHENES — Along Bayou Point-aux-Chenes, the waterway that separates Lafourche and Terrebonne parishes, Anesie Verdin’s daughter and granddaughter prepare shrimp to be boiled then dried as he takes his boat into the nearby marshes. Everywhere is evidence of how coastal erosion is destroying his community and way of life. Verdin, a commercial fisherman, says back […]

Why cheap gas can’t save the economy

Gas prices below $2 are a relief to many consumers. But there are too many other problems in the economy for it to have a major positive impact. NEW YORK (CNNMoney.com) — The stock market stinks like a moldy piece of Limburger cheese. Unemployment is on the rise. Home prices continue to fall. There are […]

Propane shortage hampers drying

FARGO His association has reactivated requests to Gov. John Hoeven

Oil Industry Costs Weakening After Hitting Record-CERA

LONDON -(Dow Jones)- Oil and natural gas drilling costs around the world are starting to weaken amid the global economic downturn after hitting a record level in the past six months, according to Cambridge Energy Research Associates. In a report, obtained by Dow Jones Newswires, the U.S. energy consultants said the fallout of the global […]

Nuclear planning to the year 1,002,008

YUCCA MOUNTAIN, Nevada (Reuters) – Will this barren mountain rising up to 4,950 feet from the Mojave desert look roughly the same in the year 1,002,008? That

The case for buying oil stocks

…”Given what we know about the decline rates, just to stay flat [in global oil production] we’d have to add the equivalent of four Saudi Arabias between now and 2030,” said Matt Simmons, chairman of Houston energy investment bank Simmons & Co. International and author of Twilight in the Desert, the 2005 book that argues […]

Refiners pinched as gas price falls faster than oil

Crude oil prices tumbled below $50 Thursday for the first time since May 2005 as jobless claims hit a 16-year record and financial markets sank. But oil refiners, the chief buyers of crude, aren’t celebrating. Gasoline prices are falling even harder and faster, so U.S. refiners are losing money on every gallon of gasoline they […]

Americans driving less, unmoved by lower gas prices

Americans are driving less despite falling gas prices, reflecting the deepening recession and signaling a shift in lifestyles and driving habits that could outlast the current turmoil. Drivers logged 10.7 billion fewer miles in September than they did the same month a year earlier The data reflect the effects of the worsening economy. “With the […]

Volkswagen diesel car wins ”Green Car of the Year”

LOS ANGELES (Reuters) – A clean-burning diesel sedan, Volkswagen AG’s Jetta TDI, won the “Green Car of the Year” award at the Los Angeles auto show on Thursday, the first time a diesel-powered car has taken the industry’s top environmental honor. “This signals that clean diesel has arrived,” said Ron Cogan, editor of Green Car […]

Bay Area vows $1 billion network for green cars

Mayors join company trying to deploy all-electric vehicles around the world SAN FRANCISCO – A $1 billion network of electric car recharging stations will dot San Francisco Bay area highways under a plan unveiled Thursday that aims to greatly expand the number of electric vehicles on the road. Palo Alto-based Better Place along with San […]

TIMELINE: Half a century of oil price volatility

LONDON (Reuters) – OPEC meets in Cairo on November 29 in an attempt to stem a collapse in oil that has knocked two thirds off the price in just four months. Oil ministers face an uphill task trying to tame a commodity that has seen a roller-coaster ride from about $2 a barrel in the […]

Global warming could lead to more Arctic energy

BRUSSELS (Reuters) – The Arctic offers new energy and fishing resources as a result of global warming and new technology, the European Union said on Thursday. Melting ice also presented new navigation possibilities such as a short route to the Pacific Ocean, the EU executive said. The rapid recession of sea ice, snow cover and […]

Oil firms to store crude on ships as oil tanks

DUBAI (Reuters) – Oil companies plan to store millions of barrels of crude at sea as they wait for demand to pick up and prices to rise. So far oil companies have booked ships capable of holding up to 10 million barrels, brokers have said, more than the daily output of top exporter Saudi Arabia. […]

Russia and Ukraine face off over gas again

MOSCOW/KIEV (Reuters) – Russia said on Thursday Ukraine must repay a $2.4 billion gas debt, but Kiev denies the claim, raising fears the two sides face another battle in their gas war, which has threatened European supplies in the past. Russia has often threatened to cut gas supplies during pricing disputes with Ukraine and has […]

Many oil tanker firms avoiding Suez: Intertanko

LONDON (Reuters) – Big oil tanker association Intertanko said on Thursday it was aware of many oil tanker firms that were avoiding Suez because of rampant piracy off Somalia, without naming them. The International Association of Independent Tanker Owners said that it fully supported the “many tanker operators” who had declared their intention to avoid […]

IEA says oil price pressure to continue in 2009

DUBLIN (Reuters) – Oil prices are set to remain under downward pressure next year as a weak global economy hits demand with worries for investment projects, the International Energy Agency’s (IEA) chief economist said on Thursday. Oil fell below $50 a barrel on Thursday, with fuel companies planning to store millions of barrels of oil […]

Russia close to economic collapse as oil price falls, experts predict

Russia is now lurching towards a major economic crisis, experts predicted today, following news that the price of oil had slumped to under $50 a barrel. The collapse in the value of oil was likely to have several catastrophic consequences for Russia including a possible devaluation of the rouble and a severe drop in living […]

Double blow for Syria’s energy security

The decline in crude prices has taken oil-producing nations by surprise, but few will be hurt as much as Syria, which is grappling with rapidly falling supply. The double blow has huge implications for the economy. “Energy is a problem,” says Nabil Sukkar, an economist who heads the Syrian Consulting Bureau. “Our energy-generating capacity is […]

Gulf states prepare to weather economic storm after drop in oil prices

Saudi Arabia and Kuwait could cut back on spending as recession and slump in oil value hit hard Saudi Arabia, the world’s leading oil producer and exporter, is expected to cut back on both current spending and adjust ambitious long-term development plans in the light of the slump in prices. But cautious fiscal policies will […]

Oil at 3-year lows; gas below $2 in 23 states

COLUMBUS, Ohio Meanwhile, prices at the pump fell again overnight nationally close to $2 a gallon, with the average price in 23 states even less than that. “After this summer, this is wonderful … wonderful,” said Anuj Dayal, a cab driver in New York’s Hell’s Kitchen neighborhood. “I hope gas is $1 soon. I hope […]

Global Trends 2025: A Transformed World

“Global Trends 2025: A Transformed World” is the fourth unclassified report prepared by the National Intelligence Council (NIC) in recent years that takes a long-term view of the future. It offers a fresh look at how key global trends might develop over the next 15 years to influence world events. Our report is not meant […]

John Michael Greer: Premature triumphalism

…To judge by recent history, we are no better at guessing the future than the philosophes were. We do know a few things about the most likely future ahead of us. We have good reason to think that the decades to come will bring sharp decreases in the energy per capita available to people in […]

Water worth more than gold

The new U.S. intelligence report issued by the National Intelligence Council, the “Global Trends 2025″ report includes warnings tied to climate change. Including water and food shortages worldwide. Thomas Fingar, chairman of the NIC and deputy director of national intelligence says of the report that may effect the U.S. most is that the United States […]

Disruptive Civil Technologies: Potential Impacts on US interests out to 2025

Six civil technologies offer the potential to enhance or degrade US power over the next fifteen years according to National Intelligence Council (NIC) sponsored contractor research. (pg 11) Biofuels and bio-based chemicals production technologies have the only potential near-term capability to provide alternatives to conventional gasoline and diesel-fuel and petrochemical feedstocks. Oil-importing regions A large-scale […]

The Peak Oil Crisis: Edging Towards Reality

Last week the International Energy Agency (IEA) in Paris released their annual report on the state of the world’s energy resources — World Energy Review 2008. As the world’s energy situation becomes more and more confused, with prices gyrating wildly, and with more voices warning of unprecedented problems just ahead, this 569-page report stands as […]

Longtime Head of House Energy Panel Is Ousted

WASHINGTON Although Ms. Pelosi did not formally endorse Mr. Waxman, members of the Democratic caucus understood that she could have stopped him if she had wished. The incoming Obama administration had also signaled its direction when it named Philip Schiliro, a longtime and loyal aide to Mr. Waxman, as the new White House director of […]

Palin, Alaska grapple with lower crude prices

ANCHORAGE, Alaska (Reuters) “It’s a wakeup call. We preached, when oil was at $140, that we had to prepare for the day when prices would drop,” Palin told reporters. “We realized it today.” Palin has until December 15 to present operating and capital budgets for fiscal 2010. She was not specific about any planned cuts […]

The Squeeze is On

A squeeze is a natural part of the economic cycle. This time, however, it has taken the form of a whirlwind that threatens to leave behind an astonishing combination of devastation, cataclysmic change and opportunity. For some of those who anticipated the problem, there were ways to protect themselves. For example, Pennwest Energy A variety […]

Yemen ‘faces crisis as oil ends’

Yemen is facing an economic and political crisis as the country’s oil resources near exhaustion, a report by a London-based think-tank says. The Royal Institute for International Affairs warns that instability there could expand a zone of lawlessness from northern Kenya to Saudi Arabia. It describes Yemen’s democracy as “fragile” and points to armed conflicts […]

Automakers can’t afford to develop hybrids

LOS ANGELES In a keynote speech at the L.A. Auto Show media preview, Ghosn said companies must husband cash to survive an auto recession expected to last until 2010. He said they can’t afford now to divert money to electric and other alternative vehicles, which are expensive to develop. Among recent examples… USA Today

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