Saudi could pump less oil despite budget, gas issues

DUBAI (Reuters) – Top oil exporter Saudi Arabia may cut output more as it seeks to put a floor under oil prices, in spite of the challenges that would pose to domestic energy supply and to its budget. The kingdom plans to pump in February below its OPEC target of 8.05 million barrels per day […]

US Cash Products-Refiner strike fears, outages boost gasoline

NEW YORK, Jan 30 (Reuters) – Gasoline led U.S. oil product gains on Friday as fears of a refinery workers’ strike added to worries that supply may dwindle as plants undergo maintenance or undertake economic run cuts, traders said. A possible strike by 30,000 U.S. refinery workers threatens to shutter more than half of the […]

Mexico

(Bloomberg) — The steepest decline in Mexico The peso

DOE report paints bleak picture of our electric future

The US Department of Energy has snuck out a report on the future of the US electric grid, one that describes a huge series of challenges that we’ll face just to keep the power flowing in the coming decades. There’s a long tradition of using Fridays to release reports you’d rather not see attract attention, […]

Caterpillar laying off 2,110 more workers

CHICAGO – Caterpillar Inc said Friday it is laying off an additional 2,110 workers, bringing the week The recent dramatic pullback in commodity and oil prices has forced those customers to rethink their plans for investment in new equipment. …In an unprecedented move, Caterpillar recently reopened its order book and invited big customers and dealers […]

Glaciers around the world found shrinking for 18th year

Researchers say pace of retreat is quickening BERLIN – Glaciers from the Andes to Alaska and across the Alps shrank as much as 10 feet, the 18th year of retreat and twice as fast as a decade ago, as global warming threatens an important supply of the world’s water. Alpine glaciers lost on average 0.7 […]

The ecology of social change

…Survey any of the major historic outbreaks of mass scapegoating and violence and you The mismatch here can best be traced along a specific fault line dividing future visions from present realities. Page through any recent proposal for substantive social change and odds are that the better world it envisions is usually, at least in […]

UK energy saving policy ‘failing’

The UK government is failing to support its own measures designed to deliver energy savings, an expert has warned. Philip Sellwood, chief executive of the Energy Saving Trust (EST), said local authorities needed more funds in order to ensure savings were being made. While ministers were quick to promote new policies such as “zero carbon […]

Sea levels rising at nearly double previous estimates due to global warming

Scientists predict that global sea levels could rise nearly 40 inches by the end of the century, according to a recent report from the U.S. Environmental Protection Agency. The new estimates nearly double the worst-case scenario presented in 2007 by the Intergovernmental Panel on Climate Change, which projected a global sea level rise of 7 […]

Pa. Natural Gas Operations to Face New Rules

A Pennsylvania industry task force, comprised of state Department of Environmental Protection and representatives of the natural gas industry, met this month for the first time to develop new rules for controlling wastewater pollution from drilling operations and methods to treat wastewater. They also discussed ways to streamline the permitting process. The Marcellus Shale natural […]

Benjamin Netanyahu, Peak Oil, And a World On The Brink

…Yes, an attack on Iranian nuclear sites by Israel could prompt a massive disruption in the oil markets, causing crude oil prices to soar during a vulnerable time in the American economy. Indeed, the issue is even multiplied by the fact that the world may be facing a peak oil situation, where oil production has […]

It’s cheaper to drill – but no rush for rigs

Falling commodity prices from oil to metals are allowing firms to realize savings rather than persue new development. LONDON (Reuters) — The bubble has burst on the price of raw materials such as steel, making it cheaper to drill for oil, but there will be no rush for rigs now that recession is eroding demand […]

The Oil Card

…Norman Taking the reverse case (low oil prices), Norman spells out how, as the sun set on the U.S.S.R., the U.S. was working to keep oil prices low so it could presumably put the zap on Ivan

UK energy workers walk out in foreign jobs row

NORTH KILLINGHOLME, England (Reuters) – British energy workers staged unofficial walkouts on Friday when anger over the use of foreign workers at an oil refinery spread to about a dozen sites across the country. Contractors at Total’s (TOTF.PA) Lindsey refinery in eastern England began a protest on Wednesday after a project to build a hydro-desulphurisation […]

Airlines in financial crisis, aviation group says

Airlines around the globe are in their most widespread financial crisis since World War II, the world’s largest aviation trade group said Thursday. The International Air Transport Association (IATA), which represents 230 airlines worldwide, reported that December’s international air passenger traffic fell 4.6% year-over-year, and only about 74% of plane seats were sold. International air […]

Putin

MOSCOW

Pole-to-pole flight finds CO2 piling up over Arctic

NEW YORK (Reuters) – Scientists who flew a modified corporate jet from pole to pole to study how greenhouse gases move found carbon dioxide piling up over the Arctic, but also higher than expected levels of oxygen over the Antarctic. The three-week, $4.5 million mission this month in a specially equipped Gulfstream V jet was […]

Ethanol

Study shows that corn ethanol produces half the greenhouse emissions of gasoline Common sense says that burning a plant you regrow every year is better for the atmosphere than spewing out carbon dioxide that For years, studies have shown that ethanol is no better

George Soros: The Game Changer

To prevent the US economy from sliding into a depression, Mr Obama must implement a radical and comprehensive set of policies. Alongside the well-advanced fiscal stimulus package, these should include a system-wide and compulsory recapitalisation of the banking system and a thorough overhaul of the mortgage system Financial Times

The Next Big Biofuel?

Renewable energy, it turns out, does grow on trees. The fruit pods plucked from jatropha trees have seeds that produce clean-burning diesel fuel. But unlike corn and other biofuel sources, the jatropha doesn’t have to compete with food crops for arable land. Even in the worst of soils, it grows like weeds. Sound too good […]

Seed bank for the world threatened by financial crisis

ARDINGLY, England (Reuters) – A seed bank that is trying to collect every type of plant in the world is now under threat from the global financial crisis, its director says. The Millennium Seed Bank Project aims to house all the 300,000 different plant species known to exist to ensure future biodiversity and protect a […]

Snow study shows California faces historic drought

SAN FRANCISCO (Reuters) – A new survey of California winter snows on Thursday showed the most populous state is facing one of the worst droughts in its history, Governor Arnold Schwarzenegger said. The state, which produces about half the United States’ vegetables and fruit, is in its third year of drought and its main system […]

Deadline looms for refinery labor deal

NEW YORK: As many 24,000 refinery workers could walk off the job from the Gulf Coast to Montana with a labor contract expiring at midnight Saturday, potentially disrupting the production of gasoline, diesel and chemicals. A strike by unionized oil workers could affect about 60 producers including Exxon Mobil, Valero, Royal Dutch Shell, BP PLC, […]

Energy chiefs debate the cost of energy

DAVOS, Switzerland (Reuters) – Energy leaders at the World Economic Forum debated the true cost of fuel on Thursday as they grappled with the implications of world recession and how to navigate out of it. Record-high oil prices close to $150 a barrel in July last year added to the pain of economic slowdown, and […]

Massive Corporate Layoffs Announced – Where Will New Jobs Come From?

A massive wave of layoffs was announced yesterday by 12 major US corporations, including Caterpillar, General Motors, Home Depot, Sprint Nextel and Pfizer. Microsoft also announced its first-ever mass layoffs of 5,000 workers. Overall, more than 75,000 jobs are being cut from the workforce after Unemployment levels were reported as 7.2% in December, the highest […]

Uncle Sam wants you to buy a car

NEW YORK (CNNMoney.com) — With auto sales at crisis levels, Washington is trying to figure out how to get Americans buying cars again. Several ideas are on the table, but two of them are really making the industry pay attention. One plan is to make new car costs tax deductible. The other is to give […]

The Peak Oil Crisis: The Stimulus

As the economy spirals deeper and deeper into an economic morass, Washington’s attention this week is focused on the $900 billion economic stimulus package that is making its way through the Congress. Opinions as to the efficacy of this effort are all over the map. The President, his allies and advisors knowing they cannot just […]

Q+A: Bremmer and Roubini on protectionism, oil price

DAVOS, Switzerland (Reuters) – As governments grapple with the global crisis, politics has taken on central importance in determining the course of the world economy — and political risk is more significant than ever. Two leading experts on the financial crisis and its political dimensions — RGE Monitor Chairman Nouriel Roubini and Eurasia Group President […]

For all the hope and hoopla surrounding the largest public works program since the Interstate Highway System in the 1950s, the share spent on long-term Is that green investment of $24 billion enough to meet President Obama

H&P idles rigs in PDVSA dispute

US oil driller Helmerich & Payne said Venezuela’s state oil company PDVSA owed it nearly $100 million and that it had begun to idle drilling, sending shares down 10%. That move comes two days after Venezuela seized a rig owned by Ensco International after the US company halted operations because of unpaid bills. So far, […]

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