Global warming danger threat increased

WASHINGTON Now, researchers report that “increases in drought, heat waves and floods are projected in many regions and would have adverse impacts, including increased water stress, wildfire frequency and flood risks starting at less than (1.8 degrees) of additional warming above 1990 levels.” Indeed, “it is now more likely than not that human activity has […]

The best measure of oil price is what you paid today

When the slump in the global economy brought oil demand growth grinding to a halt last September, price forecasters who had been predicting a rise from $150 to $200 a barrel were understandably shaken. How does a self-respecting financial analyst respond to a precipitous $100 a barrel slide in four months, leaving predictions of a […]

Saudi to halt fuel oil exports 3 mths ahead: trade

SINGAPORE/DUBAI – Saudi Aramco will halt fuel oil exports three months ahead of the start of summer, due to swelling demand for power generation fuels and tighter gas supplies, industry sources said on Monday. The world

Peak Oil: why $40 per barrel is no cause for complacency

by David Strahan and Gary Kendall These days it is comforting to have one thing not to worry about. As the world teeters on the edge of a full-blown depression, and business is crushed between slumping sales and seized-up credit markets, at least the oil price is in retreat. From an historic high of $147 […]

China’s Chery Auto unveils electric car: company

SHANGHAI (AFP) The battery can be fully charged within six hours using a 220-volt home outlet, while 80 percent of the battery can be charged within 30 minutes, it said. “The price will be very suitable for families,” Yuan Tao, vice president of Chery said, without offering details. It was also unclear when the car […]

MIT Group Increases Global Warming Projections

Report: High odds of warming over 5 The median warming value, with even odds of the temperature increase being above or below that value, was 5.1

Non OPEC-12 Oil Production Peaked in 2004

Non OPEC-12 oil production peaked in 2004 at 46.8 million barrels/day (mbd) shown in the chart below. This oil definition includes crude oil, lease condensate, oil sands and natural gas plant liquids. If natural gas plant liquids are excluded, then the production peak remains in 2004 but decreases to 42.1 mbd. The US Energy Information […]

Cuts at power companies raise red flags about reliability

Utilities are aggressively cutting spending on new power plants and wires, raising concerns about higher prices or electricity shortages when demand rebounds in a year or two. Utilities and independent power suppliers plan to shave capital budgets 10% in 2009 and 2010, according to Edison Electric Institute, the industry trade group. The 2009 cuts could […]

Which capitalism will it be?

Reform cannot just rush parents and kids back into the mall, it must encourage them to shop less As America, recession-mired, enters the hope-inspired age of Barack Obama, a struggle for the soul of capitalism is being waged. Can the market system finally be made to serve us? Or will we continue to serve it? […]

China prepares to buy up foreign oil companies

China is preparing to open a new phase in its race for the world’s resources by using its huge currency reserves to buy foreign oil and gas companies. This proposal may risk a backlash from countries who fear that China is using the world’s economic crisis to tilt the balance of trade and diplomacy in […]

Outsmarted by the Smart Grid?

America has had more than its share of delusions about energy. The latest concerns the …Let

Can Geothermal Power in Iceland Thaw a Frozen Economy?

Iceland Prime Minister Johanna Sigurdardottir has said the country still has two valuable natural resources that could help it climb out of the current crisis “When I started in this industry in 1995, we produced under 50 megawatts of geothermal power, and today it’s 10 times that,” says Asgeir Margeirsson, CEO of Geysir Green Energy, […]

The Missing Ingredient in Wave and Tidal Power: Standards

Wave and tidal researches have yet to agree on the standards, such as machine design, that will allow the industry to catch a wave. EDINBURGH, U.K. — Wave and tidal makers are going to have to start to agree on the basics for the industry to take off. Although researchers have demonstrated that it’s possible […]

Nigeria: Let’s Leave Oil in the Soil

Surveying the myriad problems behind the Nigerian state’s facilitation of unregulated oil and gas extraction, Nnimmo Bassey and Environmental Rights Action (ERA) demand that obscene oil company profits be used to clean up the environmental and social mess inflicted upon the Niger Delta population. Concerned about the government’s inability to tackle the problem of gas […]

Nigeria troops repel attack on Agip oil terminal

YENEGOA, Nigeria, Feb 22 (Reuters) – Nigerian security forces repelled an attack by gunmen on an oil terminal operated by Italy’s Agip in the Niger Delta late on Saturday, a military spokesman said. Gunmen in two speedboats attacked Nigerian troops guarding the Twon Brass oil terminal in Bayelsa state. Oil production at the facility was […]

US Climate Czar: CO2 Regulation Ruling To Come Soon

WASHINGTON -(Dow Jones)- President Barack Obama’s climate czar said Sunday the Environmental Protection Agency will soon issue a rule on the regulation of carbon dioxide, finding that it represents a danger to the public. The White House is pressing Congress to draft and pass legislation that would cut greenhouse gases by 80% of 1990 levels […]

Swans Commentary: Blips #81

…WHICH BRINGS ME BACK to the Doomsters. Some welcome the chaos in the making in the name of the famed “socialist revolution,” but others, often located in the U.S. — people who have made a business (often profitable) of predicting doom and gloom — lend a hand to the repressive times ahead. People like James […]

Iran official sees possible oil price rise: IRNA

TEHRAN (Reuters) – The head of Iran’s state oil firm expressed hope that crude prices would rise, citing predictions of increased consumption in coming months, the official IRNA news agency reported on Sunday. Seifollah Jashnsaz, managing director of the National Iranian Oil Company, also said Iran had cut output by 550,000 barrels per day (bpd), […]

Vietnam opens $3 billion oil refinery

DUNG QUAT, Vietnam (Reuters) – Vietnam opened its maiden oil refinery on Sunday, a project that has been dogged by delays, failed joint ventures and criticism of its location, but which ends the country’s total reliance on imported fuel. The 140,000-barrels per day (bpd) Dung Quat plant, flanked by rice paddies and situated on a […]

Kuwait restarts oil exports after storm disruption

KUWAIT (Reuters) – Kuwait resumed oil exports on Sunday after a halt caused by adverse weather conditions, which also affected Iran, a spokesman of a Kuwaiti state oil company said on Sunday. Top oil exporter Saudi Arabia had no interruptions in its crude flow to international markets, a spokesman for state oil company Saudi Aramco […]

Conflict Over, and in the Midst of, Nature

Two reports out today on conflict and the environment mesh in a disturbing way. One, from the United Nations Environment Program, asserts that persistent conflicts within states most often relapse when the root cause is scarce natural resources and environmental issues are not incorporated into efforts to forge peace. The other study, So there

Gulf defence spending seen strong despite low oil

ABU DHABI (Reuters) – Regional tensions are fuelling continued military spending by Gulf Arab states despite the global downturn and low oil prices, major arms suppliers said on Sunday. ‘The Middle East market, including the Gulf, remains very viable and credible. There is confidence in their ability to drive on their acquisition schemes,’ said P.T. […]

Severe Drought Adds to Hardships in California

MENDOTA, Calif. With fewer checks to cash, even check-cashing businesses have failed, as have thrift stores, ice cream parlors and hardware shops. The state has put the 2008 drought losses at more than $300 million, and economists predict that this year

Raise the price of gas to $4

A price floor would help wean America off oil. Berkeley, Calif. – Remember last summer, when gas prices broke new records every day and the era of “energy independence” was on the horizon? Gas is half what it was then, but not for long. When OPEC’s planned production cuts hit, tightening the global supply of […]

Simply Hoping That Humanity Will Save The Environment May Do More Harm Than Good

Do you “hope” that everyone will see the light and start living more sustainably to save the environment? If so, you may be doing more harm than good. So say an environmental scientist and an environmental ethicist in a provocative essay in the journal, The Ecologist. “Is hope a placebo, a distraction, merely sowing the […]

Climate may lead to global conflict

Experts say warming and rising oceans could spur mass migrations. CAPE TOWN, South Africa “Somehow we have to explain to people just how worrying that is,” the British economic thinker said. Stern, author of a major British government report detailing the cost of climate change, was among a select group of two dozen

When Consumers Cut Back: A Lesson From Japan

TOKYO Today, years after the recovery, even well-off Japanese households use old bath water to do laundry, a popular way to save on utility bills. Sales of whiskey, the favorite drink among moneyed Tokyoites in the booming

Oil industry ‘faces major security threat’

Middle East oil companies are spending billions of dollars on security every year, and the cost is rising fast, according to a new report by The Gulf, a weekly business magazine. Saudi Arabia alone is expected to spend $14 billion over the next six years to improve oil security, while other energy producers are investing […]

Oil exports hit due to bad weather

Oil exports from terminals in Kuwait, Saudi Arabia and Iran were disrupted today due to bad weather in the region, shipping sources said. “Oil exports were stopped on Sunday morning due to low visibility and will resume once weather conditions are better,” Ahmad Al-Muzaiel, a spokesman for state refiner Kuwait National Petroleum Co (KNPC) said. […]

Your Oil Stocks Aren’t Coming Back

Remember when Intel, Microsoft, Dell, Lucent, Yahoo and Cisco ruled the markets? There was an era, roughly 1997 to 2000 when those stocks actually mattered. They were important companies doing big things in terms of providing the technology needed for the next century I believe that this story is repeating itself in the oil patch. […]

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