U.S. lawmakers reject nuclear in renewable power goal

WASHINGTON (Reuters) – U.S. lawmakers pushing to include greater recognition for existing nuclear power in a national renewable energy standard failed to win new breaks for the industry when a U.S. congressional panel on Wednesday voted down an amendment to a controversial climate change bill. The sweeping bill, which seeks to cap greenhouse gas emissions, […]

Traders look to unload crude stored offshore in U.S.

NEW YORK/MEXICO CITY (Reuters) – Trading firms are offering to sell large volumes of foreign crude into the United States in what could be the first steps to unload their large offshore storage positions as the crude futures curve flattens. Front-month crude oil futures are trading near their lowest discount to second-month futures since late […]

U.S. crude oil and gasoline stocks fall sharply: EIA

NEW YORK (Reuters) – U.S. crude inventories fell last week for the second straight time as imports remained low while gasoline supplies dropped much more than expected, the Energy Information Administration said in weekly data released Wednesday. U.S. crude futures rose $2 to more than $62 a barrel after the EIA issued its weekly oil […]

WoodMac: No gas price rebound seen in near term

HOUSTON — Weakness in global natural gas markets will delay a recovery in US gas prices and rig counts. Exacerbating the weakness in gas demand has been a marked downturn in demand for electric power by both industrial and residential customers, analysts with the research and consulting firm Wood Mackenzie told reporters today. The economic […]

Crude hits six-month high before holiday weekend

NEW YORK In London, Brent prices rose $1.23 to $60.15 a barrel on the ICE Futures exchange. Crude stockpiles dropped by 2.1 million barrels for the week ended May 15, according to Energy Department’s Energy Information Administration. Gasoline inventories dropped by 4.3 million barrels. That was a bigger decline than analysts had expected, especially for […]

Peak oil under spotlight

The issue of when the world will reach peak oil production, or whether it already has, came under the spotlight at Sustainabilitylive! this week. The Oil Depletion Analysis Centre’s David Strahan told delegates that peak oil would have far reaching effects on the economy and ventured that a number of analysts believe we have already […]

Ask Jeff Rubin

Jeff Rubin, former chief economist at CIBC World Markets Inc., took your questions at Wednesday at 12:15 p.m. Mr. Rubin built his reputation on a number of successful predictions, including one in 2000 that oil prices would hit $50 (U.S.) a barrel within five years and correctly calling the residential real estate market bust in […]

The Energy Report for Wednesday 20/05/2009

Peak bleak: Is the world running out of oil? Again? Well if you look at the weekly drops from the API you might think so. But no, oil is rallying back up but not because of peak oil but perhaps due to the sense that the world is not so bleak. The VIX hit the […]

Climate-Treaty Draft Proposes Rich Countries Eliminate Most CO2

The United Nations The 53-page text, posted today on the Web site of the UN Framework Convention on Climate Change, will now be refined by 192 countries in negotiations to forge a new deal to succeed the 1997 Kyoto Protocol climate-protection treaty.

Microscopic Manufacturers Produce Eco-friendly Plastics

Last year’s energy crisis highlighted an unforseen by-product of the looming fuel shortages of the 21st century. Petroleum-based products such as plastics that society takes for granted but now requires to function will run out with the oil. Scientists are looking to microorganisms to pick up the slack and help produce environmentally friendly plastics, according […]

The 21st century's bleak harvest

As the world staggers from one economic crisis to another, it seems easy to forget the global food crisis that occupied centre stage in 2008. World prices for essential grains more than doubled between 2006 and 2008. …In late 2007 and 2008, the crisis caused food riots in at least 15 countries across the world, […]

Giant Scottish wind farm from the air

Planning for Europe’s largest onshore wind farm began a decade ago – now the final phase of the project on Eaglesham Moor, Scotland, is finally complete. Located near Glasgow, the Whitelee Wind Farm has 140 turbines and the potential to generate enough electricity to power the city. BBC

Green Berets: Military Brass Urge American Energy Revolution

Retired military officers are urging the U.S. to get serious about changing the country The report calls for the Pentagon to lead a shift away from oil and toward renewable sources of energy

IEA puts a number on supply crunch: three years to go

Warnings of an oil supply crunch have been frequent and vocal in recent months. As oil prices fell from their peak in July, so did plans to invest in future oil production – and the worldFTBlog

Crude prices rebound with supply disruptions

Prices for crude and petroleum products rebounded May 18, wiping out recent losses in many cases, on news of a refinery explosion in Pennsylvania and attacks on oil facilities in Nigeria. Sonoco Inc. on May 18 extinguished a fire at its 175,000 b/d refinery at Marcus Hook, Pa., following a May 17 explosion. Authorities are […]

Obama vehicle plan another pothole for ethanol

President Barack Obama’s tough fuel economy program for vehicles could put another damper on the struggling ethanol business, because the alternative fuel packs a lower energy content than gasoline. Obama on Tuesday introduced the most aggressive proposal yet to boost U.S. auto fuel economy standards — a bid to reduce vehicle emissions of climate-warming gases. […]

Obama's Fuel Fantasy

The new fuel economy rules announced by the government are more than a challenge; they could end our era of cheap transportation. If they can be met, and that is questionable without some cheating on the rulemaking, cars will be small and expensive–or larger and very expensive. The word coming from Washington is that a […]

Indonesia finds new sedimentary basins

Indonesia claimed that it found over 50 new sedimentary basins, giving hopes of finding new oil and gas reserves amid current declining production in the country, the Jakarta Post quoted a minister as saying on Wednesday. The Energy and Mineral Resources Minister Purnomo Yusgiantoro said that the latest geological survey conducted by the ministry found […]

Iraq, Egypt strike deal to boost oil exploration

Iraq and Egypt signed a deal on Wednesday to increase oil exploration and development in Iraq during a visit by CairoKhaleejTimes

ExxonMobil, Aramco's China refinery starts

A joint venture between Exxon Mobil, Saudi Aramco and China’s Sinopec Corp, said on Tuesday it had started trial runs at its new Fujian refinery on China’s southeastern coast. The whole complex, which includes a 240,000-barrel-per-day refinery and an 800,000-tonne-per-year ethylene complex, will enter full operations in the second half of 2009, it said.Reuters

Russia, Norway discuss Arctic energy development

Russian President Dmitry Medvedev and Norwegian Prime Minister Jens Stoltenberg met Tuesday for talks on the Arctic, amid growing international interest in the region’s vast energy resources. “Our countries are northern, Arctic. The region’s development depends how we carry out a coordinated position on the development of the Arctic,” Medvedev told Stoltenberg at his residence […]

Saudi starts pumping from Nuayyim

Top oil exporter Saudi Arabia began production from its 100,000 barrels per day Nuayyim oilfield this week, a Saudi industry source said today. Nuayyim is one of three oilfield projects due for completion by the end of June to take Saudi total production capacity to 12.5 million barrels per day. Potential capacity from the project […]

Russia-Ukraine transit gas down 50%

Transit of Russian gas through Ukraine to Europe has dropped almost 50% in the first four months of this year against the same period last year, Ukraine’s energy ministry said today. Russia transported 23.2 billion cubic metres of gas through Ukraine to Europe against 46.3 Bcm last year in January-April, according to the ministry’s statement, […]

Gas prices: The key to fuel economy

As President Obama announces tough new fuel economy rules, experts wonder if low gas prices will keep consumers away from efficient new vehicles. NEW YORK (CNNMoney.com) — New fuel economy rules announced by President Obama Tuesday have already gained support from major automakers, but the challenge will be getting consumers to play along, especially if […]

Total Says Workers Walk Out at U.K. Oil Refinery

(Bloomberg) — Total SA, Europe The refinery, capable of processing 221,000 barrels a day, is operating normally, Iain Hutchison, a spokesman for Total in the U.K., said by phone. On May 6, about 30 workers protested outside the site in northeast England. That followed a week-long strike earlier this year when about 600 contractors walked […]

Lower Oil Prices Put Iraq's Security Forces In Bind at Crucial Time

BAGHDAD — Reeling from a sharp drop in oil prices, Iraq’s security forces are trimming bloated payrolls and will be unable to purchase ships and aircraft that Iraqi officials had hoped would allow the country to develop a basic ability to fend off external threats by 2012, the United States’ projected withdrawal date, according to […]

EPA Clears Waterboarding Permits for Appalachia

Have 42 out of 48 permits for mountaintop removal — the process of blowing up our nation’s oldest and most diverse mountains, razing historic communities, poisoning watersheds, and causing massive erosion and flooding, which Vice President Al Gore has termed “a crime, and ought to be treated as a crime” — cleared as “environmentally responsible” […]

The dirty secret about clean coal: It doesn't exist

“This is America. We figured out how to put a man on the moon in 10 years,” Mr. Obama intones in a clip taken from a speech during last fall’s election campaign. “You can’t tell me we can’t figure out how to burn coal that we mine right here in the United States of America […]

Fresh Wind Blows Through Brazil's Energy Sector

The strong, consistent winds that for centuries have powered the colorful wooden “jangada” fishing boats off Brazil’s northern coast are now making the area the center of the country’s fastest-growing energy sector. After a halting start, installed capacity is expected to roughly double this year from 341 megawatts at the end of 2008, a trend […]

Global warming could be twice as bad as forecast

Global warming’s effects this century could be twice as extreme as estimated just six years ago, scientists reported on Tuesday. Earth’s median surface temperature could rise 9.3 degrees F (5.2 degrees C) by 2100, the scientists at the Massachusetts Institute of Technology found, compared to a 2003 study that projected a median temperature increase of […]

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