Venezuela says sees oil price steady this year

World oil prices will likely remain steady this year despite being below their “fair” value, Venezuela’s finance minister, who is an ex-president of OPEC, said on Sunday. Venezuela, one of the largest oil exporters to the United States, is a price hawk in OPEC and has said it could this month propose that the group […]

Reduced budget endangers Iraq rebuilding -Maliki

Iraq’s prime minister, Nuri al-Maliki, is “uncomfortable” with parliament’s move to cut the 2009 budget, saying on Sunday it would endanger efforts to shore up security with reconstruction and jobs. “We hoped the budget would be ratified so the process of rebuilding and tackling the needs of the Iraqi people could continue,” Maliki told reporters. […]

Louisiana energy industry is fighting back against new taxes

The state’s oil and gas industry has launched a crusade against President Barack Obama’s proposed 2010 budget, which critics say will increase the tax burden on fossil-fuel producers to the tune of $30 billion. The Louisiana Oil and Gas Association is urging members to “take action” against the budget by signing a petition on its […]

GFEI outlines 50 per cent improvement by 2050

An action plan has been devised by the Global Fuel Economy Initiative (GFEI) aimed at achieving a 50 per cent improvement in fuel economy in the global light duty vehicle fleet by 2050. The International Energy Agency (IEA) had estimated that emissions from the worldTheGreenCarWebsite

How per barrel cost of oil becomes price per gallon

It’s curious since the cost of wheat determines the price of bread and the cost of pork bellies affects the price of bacon, but we’re more concerned about those 42 gallons of sweet light crude. And while we all know the closing price for a barrel of oil, most don’t understand how and when that […]

Medvedev: Russia will move forward despite crisis

Russian President Dmitry Medvedev says a year into his presidency that the financial crisis has changed his plans but that Russia will continue to move forward. The video statement was posted on his Web site Saturday, the first anniversary of the Central Elections Commission declaring him the winner of the race to replace his mentor […]

Mileage tax gains speed in Congress

Some key lawmakers say it’s good alternative to gas tax; opponents give their concerns. WASHINGTON Despite opposition from the White House, a proposal to tax motorists on the number of miles they drive each year is gathering speed on Capitol Hill. Its popularity is increasing as Congress searches for alternatives to the federal gasoline tax, […]

Thomas Friedman: The Inflection Is Near?

…Let We can

Iran says cooperation with non-OPEC necessary – IRNA

TEHRAN (Reuters) – Iran’s oil minister called for cooperation between crude producers inside and outside OPEC, saying it was necessary in view of the global economic downturn, the official IRNA news agency reported. Oil Minister Gholamhossein Nozari, speaking a week before OPEC ministers are due to meet in Vienna, also said on Sunday the producers […]

Historical Patterns Predict This Crisis Will Last Through 2025

…So while it is possible that financial crisis we are in will end soon, perhaps in the next few years, the larger crisis will last for at least 10-15 years (until 2025 or perhaps as early as 2020). Think back to our most recent historical example, the Crisis turning from 1929-1945. It began with the […]

Expert: No oil off coast

Q: Congress let the ban on offshore drilling expire last year, and some are pushing Congress and President Barack Obama to reinstate the ban. If they’re unsuccessful and the ban expires, what can South Carolina expect? A: “Indifference. I really don’t think there’s any oil out there. … To be able to find oil and […]

The Obama permits plan won

A straightforward tax would produce results much quicker IF Barack Obama gets his way, America will have its own version of Europe In short, the volatility of the price of permits is a serious deterrent to investment in greener sources of energy, although a bonanza for traders. Which is one reason that complicated systems of […]

For Green Energy Investors, a Particularly Tough Ride

In a bad market, the stock prices of many alternative energy firms have been hit even harder If there is a lesson to be learned from the precipitous fall in “green” stocks last year, it’s this: Combining greed with good intentions can make for a poor investment strategy. Once among the hottest names on Wall […]

Can Biofuels Bottom?

In the universe of absolutely battered “green” stocks (See: For Green Energy Investors, a Particularly Tough Ride), biofuels have been among the worst. Falling prices and oversupply led to an industry-wide slump as ethanol prices sank along with other fuels, while being squeezed at the same time by a smaller drop in prices for crops […]

King Coal’s reign challenged in courts, D.C.

Environmentalists sue, lawmakers use stimulus for cleaner renewables BILLINGS, Mont. – Beneath the frozen plains of eastern Montana and Wyoming lie the largest coal deposits in the world In recent weeks, a group of rural Montana electric co-ops abandoned a partially built 250-megawatt coal plant, ending a four-year legal campaign by environmentalists to stop the […]

Apocalypse now

A disturbing development in the march of global warming, revealed in science’s use of the English language. Not long ago, most climate scientists stuck to the future tense when they talked about the impacts of global warming. Now, they are using the present tense — and using it more and more often. Now, they tell […]

Getting From A To B

…So you see, any pause in present trends, with particular attention to how gold is steeling the show due to grand scale deleveraging, would only be that This is scary stuff, no? And so is the nationalization of banks, collapsing economies, and the bureaucracy

Interview with Jorma Ollila, the Chairman of the Board of Royal Dutch Shell

Question: There was a man called M. King Hubbard employed by Shell. How do you view his intellectual and scientific legacy, i.e. the peak oil theory which proved to be broadly true for the continental United States. Answer: I think the peak oil theory has a certain explanatory power for individual oil fields. But if […]

Arab investments in energy plunge

Riyadh: Investments in the Arab energy sector, especially in the oil industry in the Gulf, have undergone a major decline due to the global financial crisis, which could endanger the future of the industry, according to a survey conducted by an Arab oil investment firm. “The future of investments in the Arab energy sector would […]

Jan Lundberg: Counter argument for ”Stimulus,” growth and employment

It is not clear where we are headed in terms of a society impacted by ecological destruction and the end of globalized consumption. I for one am not sure I want to see the result. However, as things are not so bad now compared to where they seem to be heading — with too many […]

UK: Rescue plan for North Sea jobs

Government package to help cash-strapped oil firms may release millions to embattled industry THE government is finalising the terms of a rescue package for North Sea oil firms amid warnings that more than half the companies in the sector will fail this year and put tens of thousands out of work. The plan could include […]

Michael Pollan Fixes Dinner (Extended Interview)

America’s favorite food intellectual talks about ethanol, the carrot lobby, and secularizing food. MJ: So what do you think of the appointment of Tom Vilsack, the governor of Iowa, an agribusiness state known for its love of corn and all things ethanol? MP: Well, you know, if you look at it historically, there’s reason to […]

Don

…OK, McDougal, what are your uncommon convictions about the oil market right now? 1. Oil was officially taken down last summer. Fine American institutions like Goldman Sachs and JP Morgan are fully capable of moving markets in either direction and profiting accordingly. Do you think you could make a few bucks if you absolutely knew […]

Three injured, 25 detained in takeover attempt in south Russia

ROSTOV-ON-DON (RIA Novosti) – Police have detained 25 people who attacked an oil refinery in south Russia’s Rostov Region and injured three guards, police said Saturday. Director Anatoly Skiba told RIA Novosti that the incident was an attempt to forcibly take over the refinery. Police said about 30 people armed with firearms and airguns attempted […]

Russia flexes muscle over arctic oil and gas treasures

WASHINGTON (UPI) — Global warming doesn’t just mean there will be new patterns of mass migration, wars and border lawlessness in the 21st century. For the great climate change isn’t affecting just the warmest parts of the world; it’s also affecting areas that used to be the coldest. The great Arctic Ocean polar ice cap […]

Defense Focus: Warming wars – Part 1

Global warming already is changing the way global wars are going to be fought — and the weapons they are going to be fought with. Since the end of the Cold War, the United States, as the global hyperpower, has set the fashion for military establishments around the world. The tradition of American war-making has […]

Venezuela May Take Over More Rigs to Allow Drilling to Proceed

(Bloomberg) — Petroleos de Venezuela SA, the state oil company controlled by President Hugo Chavez, may take over privately owned oil rigs to ensure that they keep operating, Oil and Energy Minister Rafael Ramirez said. If contractors try to use workers to halt production, equipment will be confiscated, Ramirez said today in a statement from […]

Utah’s 4-day workweek draws out-of-state attention

SALT LAKE CITY Because of New York’s $15 billion budget shortfall, “there are a lot of painful decisions that have been put before us,” Gianaris said. Utah switched to a four-day week last year primarily to save money on electricity, gasoline and other energy expenses. The change affected 17,000 state employees, who now work 10 […]

IEA and OPEC may cut global oil demand forecasts next week

The world’s top energy forecasters look set to cut further their estimates of oil demand for this year as the global economy slips towards its first contraction since World War II, analysts say. The International Energy Agency (IEA), which advises 28 industrialised countries, is due to publish its closely watched monthly report on March 13 […]

Americans hit the road again as gas prices fall

GRAPEVINE, Texas (Reuters) – Denise Blackerby is hitting the road again. When U.S. retail gas prices scaled historic peaks above $4 a gallon last year, she found she could no longer make monthly trips from the Dallas area to Houston in her Ford Explorer SUV to visit her family. “When gas was $4 a gallon, […]

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