Exxon Mobil expands oil reserves

Oil giant Exxon Mobil Corp. said Monday its 2008 proved reserves hit 1.5 billion oil-equivalent barrels — a development that prompted the company to say its new reserves can replace 103 percent of production. Proved reserves are those reserves that geological and engineering data indicate with reasonable certainty to be recoverable today or in the […]

Gas pipelines are Russia’s latest push into Latin America

Russian state gas giant Gazprom is in talks to build a system of gas pipelines in Bolivia, President Dmitry Medvedev said Monday, in the latest Kremlin push to boost its influence in South America. Medvedev announced the plan after talks in the Kremlin with Bolivian President Evo Morales, whose visit to Moscow comes soon after […]

Biochar for Climate Change Mitigation: Fact or Fiction

Soils are extremely diverse and dynamic, playing a fundamental role in supporting communities of plants, detritivores (which break down organic matter) and microbial communities, interacting with the atmosphere, regulating water cycles and much more. As we face the catastrophic impacts of climate change, efforts to Research on biochar is clearly indicating that there simply is […]

Russia studying large oil inventory – Sechin

TYUMEN, Russia (Reuters) – Russia is working towards creating a state reserve to buy crude from producers when prices are low, potentially removing up to 16 million tonnes of Russian oil from export markets, a top energy official said on Monday. Deputy Prime Minister Igor Sechin, who oversees the oil and gas sector, said the […]

Stations pumped dry: Struggle grows as oil firms dump pumps

DELRAY BEACH Chaim Shore, 55, owner of Delray Texaco, doesn’t want his station to join what he calls the sea of “weed gardens,” which is what some deserted gas stations become. His station south of Atlantic Avenue at 445 S.E. Sixth Ave. is not at a major intersection. A mechanic by trade, he does some […]

Goldman Says Low Point to Oil Price Getting Closer

(Bloomberg) — OPEC production cuts and cold weather are helping rebalance the oil market, bringing the low point for prices closer than previously expected, Goldman Sachs Group Inc. analysts said. New York oil futures have fallen 75 percent from a record $147.27 reached in July and declined 10 percent this month, as the recession in […]

Richard Heinberg: Zero-Sum Game

Oops! For most of the last century or two, economic growth has lifted all boats and temporarily increased Earth

Oil supply crunch in 2010?

The International Energy Agency says that when the economy regains strength, demand for crude will pick up. LONDON (Reuters) — The International Energy Agency said on Monday there could be an oil supply crunch from 2010 once global demand recovers and the impact of delayed investment crimps future supplies. The agency, which advises 28 industrialized […]

Crude oil is getting cheaper

Energy market has turned upside-down amid U.S. recession NEW YORK – Crude oil prices have fallen to new lows for this year. So you’d think gas prices would sink right along with them. Not so. On Thursday, for example, crude oil closed just under $34 a barrel, its lowest point for 2009. But the national […]

Dmitry Orlov: Social collapse best practices

…Here is the key insight: you might think that when collapse happens, nothing works. That Here is another key insight: there are very few things that are positives or negatives per se. Just about everything is a matter of context. Now, it just so happens that most things that are positives prior to collapse turn […]

Saudi Arabia seen upholding dollar peg policy

Riyadh: Saudi Arabia’s new central bank governor is set to keep the oil exporter’s dollar-pegged monetary policy intact amid a harsh global economic crisis, analysts said on Sunday. The world’s top oil exporter named Mohammad Al Jasser governor of the Saudi Arabian Monetary Agency (SAMA) on Saturday. Hamad Saud Al Sayyari asked to step down […]

Drilling activity continues to fall

HOUSTON — The US rig count continued to plummet, down by 60 rotary rigs with 1,339 working this week, the lowest number since the week ended June 10, 2005. That is down from 1,773 active rigs a year ago at this period, with cuts in every category, Baker Hughes Inc. reported. Land operations lost 55 […]

Shell review puts Fly Buys under a cloud

One of New Zealand’s biggest petrol brands, Shell, is considering selling most of its New Zealand operations. That doesn’t necessarily mean your local petrol station will close but it’s not clear if you will still collect Fly Buys at the pumps. Shell has announced it is reviewing what it calls its “downstream” business, basically all […]

Saudi Oil Minister Warns Against Hasty Transition to Renewable Energy

Saudi Arabia

UK: Threat of gas price rise as reserves run dry

Pipeline breakdowns and cold weather leave yawning breach in nation’s energy security Britain faces an energy crisis next month as vital gas reserves run dry, top energy analysts warn. The unprecedented emergency, which exposes a gaping hole in the country’s energy security, is expected to lead to sharp price increases. Centrica, which owns British Gas, […]

In rural Alaska villages, families struggle to survive

(CNN) — Thousands of villagers in rural Alaska are struggling to survive, forced to choose between keeping their families warm and keeping their stomachs full, residents say. Harvested nuts and berries, small game animals, and dried fish are the only things keeping some from starving. … Emmonak resident Nicholas Tucker wondered if others were feeling […]

The Decline of the Petro-Czar

Plunging oil prices have created an unexpected diplomatic bright spot in the global recession by weakening unfriendly regimes. What a difference a half a year makes. Last summer, when oil prices hit an all-time high of $147 a barrel, so did the hubris of the petro-czars. Vladimir Putin sent Russian tanks rolling into Georgia, laying […]

Meet the doomsayers of our time

For millennia, doomsayers have been predicting the end of the world as we know it. These days, theory dovetails with fact: oil is disappearing. Should we be listening? …In the jargon of his peers, Paul is a ‘doomer.’ Those who don’t share his concerns are ’sheeple.’ And sheeple don’t rank in Paul’s world. The high […]

Take Peak Oil seriously – it’ll be here much sooner than you think

No longer the purview of anti-social types, experts warn we must embrace a massive lifestyle change While panic is not the prescription, experts are warning that the time to begin taking Peak Oil seriously is past. “It’s not about believing. It’s about facts,” said Gord Miller, Ontario’s environmental commissioner. Miller has been warning about Peak […]

Is America Ready to Quit Coal?

Last May, protesters took over James E. Rogers All Mr. Rogers asks, he said in jest, is that protesters let him know when they want to camp out on his lawn.

Electric car returns energy to the grid

PHILADELPHIA The resulting vehicle, developed by Kempton, a renewable-energy professor at the University of Delaware, can hit 95 miles an hour and go 120 miles before charging. As impressive as those numbers are, the car

More Annals of Global Greed Inc.

Halliburton and its former KBR subsidiary have agreed to pay $579 million in fines to settle criminal and regulatory charges of having bribed foreign officials to win billions in construction contracts. There may be some taxpayer comfort in the fact that this scandal was rooted in Nigeria, not Iraq, where the Halliburton megacorporation (you know, […]

Could Energy Success Backfire in the End?

One aim of this blog is to explore efforts to expand the menu of cheap, non-polluting, renewable energy options. That We could synthesize food, even meat, in solar-powered factories. We could render water from the sea or briny aquifers drinkable in endless amounts (as is being done with wind power in sere parts of Australia […]

China to build oil inventory with more Saudi supplies

RIYADH: When Chinese President Hu Jintao landed in Riyadh earlier this week, he carried a special brief – China wanted more Saudi oil. And agreements signed during the visit included enhancing cooperation in oil, gas and mining. The energy aspect of the visit was interesting in more than one ways. It occurred at a time […]

Gaddafi urges Libyans to back his income oil plan

TRIPOLI (Reuters) Officials including Prime Minister Al-Baghdadi Ali al-Mahmoudi and Central Bank Governor Farhat Omar Bin Guidara had told Gaddafi in November the move could do long-term damage to the OPEC member country’s economy. “Do not be afraid to take directly the oil money and the responsibility to create the right government structures that further […]

UK: Government must help oil industry … or lose $1,000,000,000,000 in tax

THE LEADING light of Scotland’s oil and gas sector has issued his strongest warning yet that government intervention is needed to protect the long-term potential of the industry in the face of the worldwide recession. Sir Ian Wood, chairman of Wood Group, also predicted that failure to act now could undermine the UK economy’s overall […]

More struggle to pay energy costs

As the recession deepens, more Virginia utility subscribers are falling behind in paying their winter heating bills, and more are having their electric and gas service disconnected, officials said. This year, 16 percent of Dominion Virginia Power

Great Lakes not enough to quench water shortage: Report

Even the Great Lakes aren’t great enough to sustain North Americans’ reckless water use in the event of a continentwide water shortage, according to a new report. The report “I think we have to stop considering the Great Lakes as the thing that’s going to irrigate the Red River Valley and supply water to the […]

GM considering Chapter 11 filing, new company: report

CHICAGO (Reuters) Citing “people familiar with the matter,” the story said that GM could also ask for additional government funds to stave off a bankruptcy filing. GM declined to comment, the story said. Reuters

Early indications hint at smaller 2009 cereal crop

Rome – Early indications point to a reduction in global cereal output in 2009 from the 2008 record, according to FAO’s latest Crop Prospects and Food Situation report. Smaller plantings and adverse weather look likely to bring grain production down in most of the world’s major producers. While conditions are generally favourable for winter wheat […]

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