Wind company shuts doors in Rutland

RUTLAND, Vt. – A Connecticut company working to install a wind-power project on Grandpa’s Knob in Castleton, Vt., is closing its Rutland office. In October, the company laid off workers in New York and stopped work at two wind farms in that state in connection with the failure of Lehman Brothers, one of its chief […]

As global crunch squeezes Gulf, debt defaults, ratings outlook downgrades mount

CAIRO, Egypt (AP) The announcement by Kuwait’s Global Investment House marked a sharp blow for the firm, which had been meeting with creditors about restructuring what its managing director said in December was $3 billion in loans. That push came after Global defaulted on a $200 million dollar maturing loan that month, prompting Fitch Ratings […]

A $2 trillion bet on powering America

The stimulus plan might jump-start investments, which could drastically change how we use electricity. NEW YORK (CNNMoney.com) — For years we’ve been hearing about the nation’s crumbling and outdated electricity grid. The 2003 blackout that plunged 50 million people into darkness was a wake-up call. Then this summer T. Boone Pickens, who’s planning on investing […]

China aims to increase coal production 30 pct by 2015: govt

BEIJING (AFP) That is up from the 2.54 billion tonnes in produced 2007, according to the ministry. Figures for 2008 have not yet been released. Annual production of natural gas will more than double to 160 billion cubic metres (5.6 billion cubic feet) by 2015, while that of crude oil will increase by seven percent […]

Tokyo to exempt tax for next-generation green cars

TOKYO (AFP) Some automakers are also working on plug-in hybrid cars powered by petrol and electricity and are rechargeable at a power outlet at home, letting motorists drive longer distances. The Tokyo metropolitan government plans to exempt taxes on purchases and maintenance of the super-low emission cars from the next fiscal year starting in April, […]

Venezuela to keep sending free fuel to US poor

CARACAS, Venezuela “Chavez decided that it was a mistake,” said Larry Birns, director of the Washington-based Council on Hemispheric Affairs. He said Citgo officials probably recommended the cost-saving measure to Chavez in the first place, but the impact may not have sunk in until the president saw the reaction. He then “began to understand that […]

Norway Sees Oil Production Falling 9.7% This Year

(Bloomberg) — Oil production on the Norwegian continental shelf may fall 9.7 percent this year, declining for a ninth year, the country

Obama’s Oil Reality Check

For Barack Obama, sensibly and scientifically curing the nationThe question is how to tackle the fix. If Obama is true to form, he will continue to surprise his detractors with centrism and sense. But his task is enormous. At the outset, Obama must sever his allegiance to politicized fuels that make no sense. Gal Luft, […]

T. Boone Pickens likes odds for his energy plan

Every president since Richard Nixon has pledged to move the country toward energy independence, and they It doesn

Why Has the Price of Oil Decreased So Significantly?

Question/Comment: Why has the price of gas decreased so significantly? This seems way more than an incremental adjustment to supply and demand. Is there something non-linear going on? Paul Solman: Brace yourself for a very long answer. The price of gas reflects the price of oil. Roughly speaking, since there are 42 gallons in every […]

Who needs a hybrid?

Green is for sale. But who In December, sales of Toyota

Shell seeks Colo. water for oil shale production

Shell Oil has filed for the first major water right on the Yampa River in northwest Colorado for its oil shale development plans. Shell applied Dec. 30 in state Water Court to use about 8 percent of the Yampa’s peak spring flow. Shell spokesman Tracy Boyd says the water would be shipped to a reservoir […]

Mexico to Freeze Gasoline Prices, Boost Jobs Spending

(Bloomberg) — Mexico will freeze the price of gasoline this year, cut electricity rates for some industries and expand unemployment benefits as part of a financial stimulus to help the nation weather the global financial crisis. The government and industries will increase spending on infrastructure such as roads, airports and sea ports to 570 billion […]

Gas emergency declared across Europe

Governments across Europe declared states of emergency and ordered factories to close as Russia cut all gas supplies through Ukraine yesterday in their worsening dispute over unpaid bills. Jose Manuel Barroso, the European Commission President, accused the two countries of taking the EU’s energy supply Schools and factories were closed and trees were felled to […]

Oil traders seek tankers to keep crude stored

Oil traders are seeking as many as 10 supertankers to store crude, potentially taking the amount hoarded at sea to almost five days of European Union demand, according to Frontline Ltd., the largest owner of the vessels. About 25 of the carriers, each able to hold about 2 million barrels of crude, were already hired […]

Energy growth is a dead end

…The utopian worldview that says the planet can sustain indefinite growth in energy production is grossly out of touch with the physical realities of the planet. There are very real limits to the supply of non-renewable fuels – fossil-based or uranium. At some point, perhaps not too distant, affordable supplies of non-renewable fuels will be […]

Russia orders Gazprom to stop Ukraine gas flow

MOSCOW (Reuters) – Russian Prime Minister Vladimir Putin ordered gas export monopoly Gazprom to halt gas supplies via Ukraine on Wednesday, Russian news agencies reported. In a meeting with Putin, Gazprom chief executive Alexei Miller proposed halting deliveries of gas to the Russian-Ukraine border because Kiev was siphoning off the fuel, Interfax news agency reported. […]

Saudi’s crown jewel has more oil

Straddling over an area bigger than neighbouring Qatar and housing more than six per cent of the world’s oil wealth, Saudi Arabia’s Ghawar is yet to be fully explored though it has been pumping crude for more than half a century. Ghawar is by far the world’s largest oilfield and for this reason the government-owned […]

EU biofuels growth seen slowed by financial crisis

OXFORD, England, Jan 6 (Reuters) – The sharp drop in crude oil prices and the global financial crisis is set to disrupt the development of biofuels in the European Union, a top European Commission official said on Tuesday. “The path will be a bit chaotic. I don’t see a taking off in biofuels in 2009, […]

Don’t get used to cheap oil, analysts say

The same cheap oil that’s providing relief to drivers and businesses in an awful economy is setting the stage for another price spike, perhaps as soon as next year, that will bring back painful memories of last summer’s $4-a-gallon gas. The oil industry is scaling back on exploration and production because some projects don’t make […]

Peak oil expert launches Frostic environmental series

KALAMAZOO–Dr. Kenneth Deffeyes, a famed Princeton geologist who believes world oil production peaked three years ago, will speak at Western Michigan University at 7 p.m. Tuesday, Jan. 13. Speaking in the Fetzer Center’s Kirsch Auditorium, Deffeyes will be the first to speak as part of WMU’s new Gwen Frostic Environmental Studies Seminar Series. The event […]

EU faces deepening energy crunch over Russian gas

MOSCOW (Reuters) – Europe faced a deepening energy crunch and more sub-zero temperatures on Wednesday, with Moscow and Kiev showing little sign of a swift resolution of a pricing dispute that has slashed Russian gas supplies to the West. Russia accused its former Soviet neighbor of stealing about 15 percent the gas it ships across […]

OPEC makes virtually all of pledged supply cut: survey

The 11 members bound by output targets pumped 27.36 million bpd, down from 27.62 million bpd in November and close to their December target of 27.3 million bpd, the survey found. That means the group has met virtually all of its pledge to lower supply to 27.3 million bpd from November 1. Reuters

Oil prices to top $100 barrel by end of 2010: Pickens

HOUSTON (Reuters) – Texas billionaire T. Boone Pickens said on Tuesday that oil prices will rise above $100 a barrel by the end of 2010 as the global economy recovers. Oil prices in the $40 a barrel range are “not going to be around much longer,” Pickens told a gathering at the James A. Baker […]

Green revolution: still possible amid deep recession?

… Experts believe that current prices, just below $50 a barrel, will persist only as long as the downturn. The IEA has for the first time hinted that the era of “peak oil” may be upon us “It’s a one-time opportunity. The financial crisis couldn’t have come at a better time because it’s forcing us […]

The Costly Compromises of Oil From Sand

OTTAWA Not all oil is alike when it comes to environmental impact, and many environmentalists single out production from the oil sands as the epitome of

Financial Forecast for 2009, Considering Resource Limitations

…A big piece of the problem is that energy consumption in the US has not been growing very rapidly since 2000, and we know from the work of Robert Ayres and Benjamin Warr that there is a close tie between energy use, increase in energy efficiency, and economic growth. Between 1985 and 2000, US energy […]

DOE Calls for online colabrative network or ‘knowledge ecosystem’

Since mid-2007, the U.S. Department of Energy’s Office of Intelligence and Counterintelligence has sponsored three unclassified international conferences to consider the requirements for meeting the challenges involved in anticipating and understanding the security-related consequences of energy and environmental dynamics. This report synthesizes the presentations and conversations that took place at the 12 March 2008 conference, […]

$65,000 fine proposed against Exelon over ‘inattentive’ guards at nuclear plant

Federal energy regulators have proposed a $65,000 penalty for Exelon Corp. after guards at the utility holding company’s nuclear plant in Pennsylvania were seen napping on the job. Exelon terminated its contract with security service provider Wackenhut Corp. in 2007 and shifted to an in-house team, not long after Wackenhut security officers at Exelon’s Peach […]

Gas war may boost alternative routes to Europe

MOSCOW (Reuters) – Russia’s decision to cut gas exports to Europe via Ukraine in mid-winter may shock the continent into backing major new pipelines to bypass Ukraine, cementing Moscow’s control over European gas supplies. Plans for new trunk lines that would divert Russian gas north and south of Ukraine’s troubled transit network have faltered as […]

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