Yergin: Oil users will have more impact on price

The direction oil prices take will depend more on a meeting of world leaders in London next month than on what the Organization of Petroleum Exporting Countries decides this weekend, said Daniel Yergin, chairman of Cambridge Energy Research Associates. Efforts to boost global growth will be more meaningful to oil markets than whether OPEC decides […]

Fed. government should support decision makers coping with climate change

Many state and local officials and private organizations are basing decisions — such as how to build bridges or manage water supplies — on the assumption that current climate conditions will continue, but that assumption is no longer valid. To produce the climate information these decision makers need and to deliver it to them effectively, […]

NC State Researchers Work to Make Wood a New Energy Source

Is wood the new coal? Researchers at North Carolina State University think so, and they are part of a team working to turn woodchips into a substitute for coal by using a process called torrefaction that is greener, cleaner and more efficient than traditional coal burning. During torrefaction, woodchips go through a machine The torrefied […]

What does Sustainability Mean for Energy?

What makes energy sustainable? I think each of us has our own idea, and the various ideas are not entirely the same. To be sustainable, clearly the fuel supply must be adequate–not run out shortly. If we are concerned about climate change, a sustainable source of energy production should not add much carbon to the […]

California panel urges ‘immediate action’ to protect against rising sea levels

Global warming is projected to cause ocean levels to rise 55 inches or more by the end of the century. Report recommends phased abandonment of coastal areas and moving state infrastructure inland. As California officials see it, global warming is happening so there’s no time to waste in figuring out what to do. California’s interagency […]

World population to reach nine billion by 2050

The 2008 Revision of the official UN populations projections forecast minimal change in the population of the more developed nations, which should rise from 1.23 billion to 1.28 billion during the same period. That population would have in fact dipped to 1.15 billion without the projected net migration from developing to developed countries, expected to […]

Suburbia R.I.P.

Does the downturn spell the beginning of the end for suburbia? Some experts say yesterday’s cul-de-sac is tomorrow’s ghost town. The downturn has accomplished what a generation of designers and planners could not: it has turned back the tide of suburban sprawl. In the wake of the foreclosure crisis many new subdivisions are left half […]

The Earth

Friedman is picking up on a theme that people like Bill McKibben and James Kunstler have been touching on for a while. The party is over, and we are standing on the edge of something new and different and very uncertain. What comes next is likely to be some kind of fundamental change. It might […]

OPEC to make sharp cut in oil demand forecast

OPEC will cut its 2009 oil demand forecast this week, the group’s secretary general said on Monday, a move that may lend support to calls from some members for further supply curbs at a meeting on Sunday. OPEC expects the slowing global economy to burn a million barrels per day (bpd) less oil than the […]

Foreign minister urges international co-operation in changing Arctic

Foreign Minister Lawrence Cannon says Canada will staunchly defend its sovereignty over Arctic lands and waters but urges international co-operation to deal with changes being brought by global warming. In a speech delivered in Whitehorse, Cannon calls for a renewed focus on the Arctic Council, the main international forum on Arctic issues. Cannon says Canada […]

U.S. energy secy worried OPEC may hurt the economy

U.S. Energy Secretary Steven Chu said on Wednesday he will speak to OPEC ministers before their meeting this weekend and warn them as they consider another oil production cut that high crude prices will harm the fragile world economy. OPEC members meet in Vienna on Sunday to discuss whether to lower oil output, which analysts […]

Nigerian Military Beefs Up Security in Delta Region

Nigerian military activity in the troubled oil-producing Niger Delta has intensified following allegations by the army claiming a plot to attack a Chevron oil facility and pipelines in the Niger Delta. In a statement, the military said troops have been placed on maximum alert to repel attacks on Chevron’s Abiteye flow station and pipelines in […]

China starts oil field project in Iraq

On the largely spacious land of Iraq’s eastern province of Wasit, Chinese faces among local Iraqis heavily guarded by security forces appeared on the site of the al-Ahdab oil field project the two sides agreed to jointly develop, which would see a 110,000 barrels per day (bpd) production in the coming six years. Several trucks […]

The oil cycle: The wheels are turning again

The global oil market is a beast. According to the International Energy Agency, demand for oil stands at about 85 million barrels per day. Driven by high demand growth, there is a fear of imminent shortage – that the world will begin to run out of oil. Such a shortage could be amplified by the […]

The Crude Oil Deflationary Bear Market

So what is the state of the Oil market now? Well, the contango has started to narrow. That’s a good sign. But on the other hand production and exploration don’t seem to have been curtailed so much yet. How many Oil producers or drillers have you heard go out of business recently? If Oil was […]

Chevron carefully weighs investment in Venezuela

Representatives of Chevron said on Tuesday that the US oil company will need to conduct a thorough assessment before investing again in Venezuela, Reuters reported. The oil corporation submitted on Tuesday in New York and San Francisco a management balance. CEO David O’Reilly noted that in view of falling oil prices, oil producers are most […]

Japan, Iran Seek To Expand Bilateral Ties

Japan and Iran are trying to further expand the already strong bilateral ties that have existed between the two nations for the past 80 years. Iran ranks third in providing oil to Japan, with only Saudi Arabia and the UAE supplying more of Japan’s oil. Japan’s Chairman of the Committee on Foreign Affairs and Defense […]

Dwindling oil prices threaten investment in oil industry, says OPEC

THE Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Abdalla Salem El-Ba dri, has expressed concerns over the ripple effects of the dwindling crude oil prices on existing and new investments in the oil and gas sector. El-Badri in a statement released over the weekend said: “We all want to see the global […]

Book Review: Robert Hefner’s ‘The Grand Energy Transition’

Robert Hefner Mr. Hefner certainly has the credentials to speak authoritatively about energy and natural gas. He is a geologist, geophysicist, and a true pioneer in natural gas exploration. After working for Philips Petroleum Hefner founded his own company, GHK. In 1969 GHK, and its partners drilled a well over 24,000 feet deep in the […]

Green Ink: A New Peak for Oil, and Curbing Nuclear Exuberance

Crude oil futures kept falling Wednesday to about $45 due to weakness in Chinese demand and in anticipation of a probable build in U.S. oil inventories, Bloomberg reports. The fall might be steeper were it not for continued uncertainty over further OPEC production cuts. Even though oil is cheaper, extracting it is still expensive, leading […]

Honda to price hybrid Insight under $20,000

Car will go on sale in U.S. March 24; will compete with Toyota Prius TORRANCE, Calif. – Honda said its new Insight hybrid will be priced under $20,000 when it goes on sale in the U.S. later this month, as the No. 2 Japanese automaker takes aim at eco-friendly bargain shoppers. Honda has said it […]

U.S. seeks to spur renewable energy on public lands

WASHINGTON (Reuters) – The U.S. Interior Department on Wednesday said it has created a special task force to speed the development of renewable energy projects on federal lands. “More so than ever, with job losses continuing to mount, we need to steer the country onto a new energy path,” said Interior Secretary Ken Salazar. The […]

Fast-growing Western U.S. cities face water crisis

LAS VEGAS/LOS ANGELES (Reuters) – Desert golf course superintendent Bill Rohret is doing something that 20 years ago would have seemed unthinkable — ripping up bright, green turf by the acre and replacing it with rocks. Back then “they came in with bulldozers and dynamite, and they took the desert and turned it into a […]

Ford-UAW deal cuts wages to $55 an hour

DETROIT (Reuters) – Ford Motor Co expects operating savings of $500 million per year from an agreement with the United Auto Workers that also will make its labor costs competitive with Japanese rivals, the company said on Wednesday. The agreement trims average wages and benefits for UAW hourly workers to about $55 per hour this […]

Triple whammy ‘threatens UK E&P’

Low oil prices, high costs and scarce bank lending are seriously affecting oil exploration in the UK North Sea, Steve Jenkins, the chairman of the Oil & Gas Independents’ Association (OGIA) told a parliamentary select committee today. Jenkins said current low oil prices made exploring for more oil in parts of the UK Continental Shelf […]

Platts Survey: February OPEC Oil Output Fell to 28.07 Mil. Barrels Per Day

LONDON /PRNewswire/ — Platts — The 12 members of the Organization of the Petroleum Exporting Countries (OPEC) pumped an average 28.07 million barrels per day (b/d) in February, as the oil producer club continued its efforts to slash oversupply and prevent oil prices falling further, according to a Platts survey of OPEC, oil industry officials […]

Mexico’s Troubles Are Our Troubles

Falling Imports to U.S. Spell Domestic Profits A new contender now tops my long list of worries: Mexico. …Mexico is our #3 source of imports, providing 1.3 million barrels per day (mbpd), or about 6% of our total petroleum supply (EIA, Dec 2008 data). Yet Mexico’s days as a top oil producer, and possibly its […]

12.5M BARRELS!

RIYADH: State oil giant Saudi Aramco said yesterday it had completed drilling on the largest new field in its plan to raise crude capacity to 12.5 million barrels per day (bpd) by the end of this year. The $10 billion (BD3.78bn) Khurais project is one of the largest ever single additions to global oil production […]

To feel lucky as collapse progresses / Tom Friedman’s awakening

Slow collapse is what we need, if possible. As bad as this seems, “So far so good.” The kind of fast collapse from a massive interruption in oil supplies is much harder to handle. The system is teetering on many levels, and there are uncertainties, but fall it will. Many people around the world are […]

Global energy expert Matthew Simmons comes to Lafayette in April

Matthew Simmons, a prominent oil-industry insider and one of the world Acadiana Business co-publisher Cherry Fisher May says Simmons

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