Exxon Targets Nine New Projects in 2009 Spending Plan

Exxon Mobil Corp., the world Bloomberg

Geologists map rocks to soak CO2 from air

To slow global warming, scientists are exploring ways to pull carbon dioxide from the air and safely lock it away. Trees already do this naturally through photosynthesis; now, in a new report, geologists have mapped large rock formations in the United States that can also absorb CO2, which they say might be artificially harnessed to […]

Low oil could stall auto efficiency drive

WASHINGTON, March 5 (Reuters) – Falling oil prices could hurt investment in fuel efficient vehicles and capital projects designed to promote energy saving technologies, an automotive research firm warned on Thursday. CSM Worldwide told the Environmental Protection Agency that some conditions for that scenario appear in play already with recession pushing oil prices down nearly […]

Obama’s True Goals

What are the real goals of Barack Obama’s energy plan? The new president entered the White House with three core objectives: combating climate change, reducing US dependence on foreign oil, and building a clean energy future with renewable energy sources. In his first six weeks in office, Obama has moved swiftly to address all three, […]

The Inevitable Solution to Climate Change

The challenges facing President Obama at the beginning of his term have been compared with challenges President Lincoln faced at the outset of the Civil War. Both were confronted with a nation divided between the desire to continue the ways of the past and the inevitable realities of the modern world. Today we benefit from […]

Can Natural Gas Break Our Oil Habit?

It is cleaner and more abundant, but it won’t free America from foreign energy Natural gas is the only fossil fuel capable of getting good press these days. Its fans regularly rhapsodize about its merits, calling it an extraordinary fuel that’s cheap, domestically abundant, and clean. Well, cleaner than oil, at least. Meanwhile, everyone from […]

GM unveils plug-in hybrid

Ampera is cousin to Volt; other carmakers also show off electrics at Geneva GENEVA – GM’s Adam Opel GmbH subsidiary presented the lithium-ion battery powered hatchback Ampera on Tuesday at the Geneva Motor Show, where electric-powered vehicles emerged as one way to persuade environmentally aware consumers to buy new cars during the global recession. Other […]

The Peak Oil Crisis: Oil in the Great Recession

Earlier this week the Associated Press grappled with the issue of whether or not the current economic downturn has reached the point that it can be called a depression. After consulting many learned scholars the answer seems to be that it is too early to make such a pronouncement. According to some, it is going […]

$40 oil ‘a boost for global economy’

The world economy will effectively receive a $1 trillion stimulus if oil prices stay around $40 a barrel for the rest of this year, the head of the International Energy Agency (IEA) said today. The IEA’s director Nobuo Tanaka made the claim in an interview with the Reuters news agency. Lower fuel bills were now […]

U.S. looking at interim options for nuclear waste

WASHINGTON (Reuters) – U.S. Energy Secretary Steven Chu said on Thursday that his department is now considering short-term options for storage of nuclear waste since President Obama does not support moving forward with the planned nuclear waste dump at Yucca Mountain. The department will consider solidifying liquid radioactive waste that is currently held at 121 […]

Amazon’s 2005 drought created huge CO2 emissions

OSLO (Reuters) – A 2005 drought in the Amazon rainforest killed trees and released more greenhouse gas than the annual emissions of Europe and Japan, an international study showed on Thursday. The report said rainforests from Africa to Latin America may speed up global warming if the climate becomes drier this century. Plants soak up […]

Arctic summer ice could vanish by 2013

Warwick Vincent, director of the Centre for Northern Studies at Laval University in Quebec, said recent data on the ice cover “appear to be tracking the most pessimistic of the models”, which call for an ice free summer in 2013. The year “2013 is starting to look as though it is a lot more reasonable […]

China to plough extra 20% into AG production, fears climate change food crisis

China will increase spending on agricultural production by 20% this year amid warnings that climate change could spark a future food crisis . The government’s spending pledge also included extra money for renewable energy and improved power efficiency, but these environmental benefits were outweighed by moves to boost overall domestic consumption and a likely emphasis […]

Oil may touch $75 as China hedges US Treasury risk

MUMBAI: After falling from $147 to $35 per barrel towards the end of last year, crude oil has once again gained and touched $45 per barrel on increased speculation that China The Asian giant, which has been building a national oil stockpile since 2004, is planning to stock 100 million barrels by next year, Japanese […]

Rubin says half of U.S. auto plants are surplus

A new report warns the U. S. auto industry will undergo a massive correction that will yank 25 million cars off American roads over the next five years and kill 200,000 more jobs as half the country’s 51 auto plants are permanently shut down. “Just like U. S. housing sales and starts have fallen to […]

Kjell Aleklett: Natural Gas as Answer to Oil Decline Could Lead to Catastrophe

Ploughing resources into the use of natural gas as an alternative energy supply could lead to global shortage within 20 years time, according to a leading energy expert. Professor in Physics at Uppsala University in Sweden, Kjell Aleklett, says reliance on natural gas Whilst it could provide a short term solution to the energy issue, […]

Parts of Amazon close to tipping point

The Mato Grosso, the most scarred region of the Amazon, is teetering on a deforestation “tipping point”, and may soon be on a one-way route to becoming a dry and relatively barren savannah. Monica Carneiro Alves Senna and colleagues at the Federal University of Vicosa, Brazil, used computer models to simulate how the Amazon would […]

The Price of Oil: If it’s Broken, Why Not Fix It?

The price of oil is too important to be left to market forces. Since the early 1970s, the world oil market has repeatedly failed to send price signals that allocate economic resources efficiently. Governments of oil-importing nations should correct this market failure by fixing oil prices in internal markets at target levels high enough to […]

US Treasury secretary attacks oil, gas tax breaks

WASHINGTON, March 4 (Reuters) – U.S. oil and natural gas producing companies should not receive federal subsidies in the form of tax breaks because their businesses contribute to global warming, U.S. Treasury Secretary Timothy Geithner told Congress on Wednesday. It was one of the sharpest attacks yet on the oil and gas industry by a […]

John Michael Greer: The End of Retirement

I suppose I shouldn That awkward fact, if honestly faced, would likely bring the world

Venezuela’s Chavez seizes U.S. food giant unit

CARACAS (Reuters) – President Hugo Chavez seized a unit of American food giant Cargill on Wednesday and threatened to take over Venezuela’s largest private company, renewing a nationalization drive as the OPEC nation’s oil income plunges. Chavez’s clash with the food companies, demanding they produce cheaper rice, came less than three weeks after he won […]

Deflationary Depression or Hyperinflation?

In summary, the following analysis / argument concludes that Depression is a far more likely outcome than Hyperinflation. …No one can tell for certain if the floor under the velocity of money will hold or collapse. If it collapses, we will have a Depression accompanied by deflation. If it holds then The ultimate problem is […]

Stelmach fires back against oil sands critics

Smarting from a National Geographic article that described Alberta’s oil sands upgraders as “dark satanic mills,” Premier Ed Stelmach fired back yesterday at critics of the province’s most prized energy assets.Globe and Mail

Cellulosic biofuel technology will generate low-cost green fuel

Cellulosic biofuels offer similar, if not lower, costs and very large reductions in greenhouse gas emissions compared to petroleum-derived fuels. That’s one of the key take-home messages from a series of expert papers on ‘The Role of Biomass in America’s Energy Future (RBAEF)’ in a special issue of Biofuels, Bioproducts and Biorefining. The UK-based journal […]

Next decade ‘may see no warming’

The Earth’s temperature may stay roughly the same for a decade, as natural climate cycles enter a cooling phase, scientists have predicted. A new computer model developed by German researchers, reported in the journal Nature, suggests the cooling will counter greenhouse warming. However, temperatures will again be rising quickly by about 2020, they say. Other […]

Top wind-turbine firms: U.S. parts makers needed

Good news comes at Cobo conference Some of the world’s biggest wind-turbine companies told Michigan manufacturers some good news on Tuesday: They still need more U.S. parts makers. Though the economic crisis is expected to reduce the number of new wind farms and other projects this year, executives from several leading turbine manufacturers such as […]

Oil Rises a Third Day as China Says It Will Increase Investment

March 5 (Bloomberg) — Crude oil rose for a third day in New York, extending yesterday

Cheaper solar seen spurring demand, hitting producers

LOS ANGELES (Reuters) – A dramatic fall in the price of solar panels has made the clean power source a better deal than ever before, but solar manufacturers’ profits have dwindled thanks to that rapid decline and many may not survive to see solar bargains evolve into booming customer demand. Skyrocketing demand for solar power […]

Non-Opec Oil Production Has Peaked

Yawn. Non-OPEC oil production peaked in late 2006 above 41 Mb/day. It … Although monthly production peaked in late 2006, you can already see indications of the first faltering in the annual averages in 2004. That

Mexico Hopes to Revive Oil Production in New Fields

Mexico has announced the allocation of more than 170 new sites for oil and gas development in an area in the country’s northeast region. This comes at a time when production at the country’s main field is falling dramatically, leading some analysts to say that the oil exporter could become an oil importer within five […]

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