OPEC unlikely to deepen oil supply curbs

OPEC is unlikely to cut its oil output target at meeting this month, a source close to the group’s Angolan president and a second OPEC delegate said as oil hit a six-month high of $60 a barrel. The exporter group is likely at its May 28 meeting in Vienna to focus on complying with 4.2 […]

Iran oil reserves increase, officials say

Iran’s proven oil reserves increased dramatically, bringing in foreign investments of roughly $10 billion in the past year, officials said. Seifollah Jashnsaz, director of the National Iranian Oil Co., told the Mehr news agency in Iran that oil reserves now stand at more than 138 billion barrels and production has increased substantially. “Already the capacity […]

Unique solar power factory dedicated in N.M.

Company building photovoltaic panels as well as tubes for solar farms ALBUQUERQUE, N.M. – Schott Solar has formally dedicated its flagship U.S. manufacturing plant Company officials and state leaders see the plant as a model as the nation looks to expand renewable energy production and curb emissions from electricity generation. Udo Ungeheuer, chairman of the […]

Changes In The Sun Are Not Causing Global Warming, New Study Shows

ScienceDaily The hypothesis they tested was that increased solar activity reduces cloudiness by changing cosmic rays. So, when clouds decrease, more sunlight is let in, causing the earth to warm. Some climate change skeptics have tried to use this hypothesis to suggest that greenhouse gases may not be the global warming culprits that most scientists […]

VC spending for alternative energy tumbles 63 pct

NEW YORK From January to March, venture capitalists spent $277 million on clean-energy projects, compared with $715.3 million in the same period last year, according to an Ernst & Young analysis based on data from Dow Jones Venture Source. “Investors took a deep breath and paused,” said Ernst & Young’s Joseph Muscat. “The weak economy […]

THE INFLUENCE GAME: Firms exact climate price

WASHINGTON The firms, many of which depend on coal

HSBC Private Bank expects big hike in oil prices

Fredrik Nerbrand, head of global strategy at HSBC Private Bank, said that the current price of $50 per barrel has lots of room for growth, despite a fall in demand from developed markets. He said the world is nearing the point of “Peak Oil”, the point when productivity reaches its maximum rate, as reserves continue […]

Oil theft barge sunk in Nigeria

A barge laden with thousands of tonnes of stolen oil has sunk off the coast of Nigeria, a military spokesman has said. The barge was scuttled by its crew who fled before they could be arrested, Lt Col Rabe Abubakar told the BBC. Crude oil theft, known as “bunkering”, costs Nigeria billion of dollars in […]

Disaster looms with rising sea levels: islands

MANADO, Indonesia (AFP) “Dealing with environmental refugees will have a much more serious impact on the global economy and global security in fact than what wars have ever done to this planet,” said Rolph Payet, a presidential adviser from the African island nation of the Seychelles. Other nations under threat from even small rises in […]

A Cautionary Video About America

The thick-lined drawings of the Earth, a factory and a house, meant to convey the cycle of human consumption, are straightforward and child-friendly. So are the pictures of dark puffs of factory smoke and an outlined skull and crossbones, representing polluting chemicals floating in the air. Which is one reason The video is a cheerful […]

Tight storage may lead to huge oil price drop

The present contango in oil prices bears all the hallmarks of an oil market where supplies are well above present fundamental physical consumption. The recent large inventory build of petroleum, under a steep contango which now is flattening, within the big oil consumers (like the OECD countries and China) have left some with the expectation […]

In German Suburb, Life Goes On Without Cars

VAUBAN, Germany As a result, 70 percent of Vauban

U.S. public health community begins discussing peak oil

On Thursday, March 12, the Johns Hopkins University Bloomberg School of Public Health in Baltimore hosted the worldEarly in the program Congressman Roscoe Bartlett reviewed the evidence for the coming peak in oil production, adding

Why oil supplies could go from peak condition to terminal decline

Peak Oil used to be the Doomsday prospect. It means the point at which we cannot develop new oilfields as fast as the old ones tail off. With demand rising unstoppably, as the poor attempt to follow the rich up the ladder, Peak Oil looked like being the call for Last Orders in the Last […]

'Distributed power' to save Earth

Economist Jeremy Rifkin galvanised the Research Connections 2009 conference in Prague with a roadmap to simultaneously solve the economic and energy crises. He proposed a pan-European strategy of small-scale energy generation and smart energy grids that make everyone a partner in energy. What is more, he said, the plan would create millions of jobs and […]

Letter from Sweden: The State of the End of the World

The 100th in a series of Stockholm Seminars featured a star cast of scientific minds, including Michael Oppenheimer of Princeton, a lead author of the IPCC Report; Johan Rockstr According to M

Trash Has Role in Energy Plan, Waste Management Says

May 11 (Bloomberg) — Waste Management Inc., North America

Peak oil review – May 11

1. Production and Prices 2. Venezuela 3. EU Gas Deal 4. The Message sinks in 5. Briefs 1. Production and Prices Oil prices closed at a six-month high of $58.63 on Friday, capping a week of steady gains. The price surge continues to be tied to investor hopes that economic growth will resume in the […]

The Road Ahead

Energy time bomb is still ticking The idea that the Obama Administration can successfully tax fossil fuel output with its We are facing an energy crisis within the next decade, as a growing developing world will eventually drive demand well beyond available supply. The

CME ready for green derivatives push

CHICAGO (Reuters) – CME Group, the world’s largest derivatives exchange, is gearing up for a U.S. cap-and-trade carbon policy that could mean a boom in “green” futures and options trade, a top CME official said on Monday. “We’re positioned to take advantage of that should the energy policy and energy legislation go in the way […]

Shippers hedging on crude rise, airlines still wary

SINGAPORE (Reuters) – Shippers have hastened their fuel hedging since early April as oil’s recent rally worried end users that the price of already tightening marine fuel supply will move further against them. Airlines have so far resisted the move, after many were burned last year from hedging activities at a time crude was sliding […]

RAND says cost of oil supply disruption worst threat

HOUSTON (Reuters) – The greatest threat to the United States from crude oil imports is a long-term disruption of world supply and the higher costs associated with that loss of imports, according to a RAND Corp study issued Monday. “The fact that the United States imports nearly three-fifths of its oil does not pose a […]

Venezuela oil service grab risks output slump

CARACAS (Reuters) – Leftist President Hugo Chavez’s abrupt takeover of Venezuelan oil service companies risks reducing the OPEC nation’s crude output by spooking investors and weakening crucial oilfield operations. Last week’s nationalization of foreign assets and a swath of small local companies puts state oil company PDVSA in charge of a range of key services […]

Hard times ahead: a discussion on the post-oil world

It would be interesting to see the readership poll results concerning where we think this country will be 15 to 20 years from now. Perhaps it should include some reference to where we stand with regard to the rest of the world. As you know, just a few of the factors that would influence our […]

Peak oil, not speculation

NEW YORK: In seeking to explain the run up in oil prices from 2004 to 2008, commentators often turn to “speculation” as the primary cause. While speculation – or at least a kind of piling-on – may have explained the very late stages of the oil price rally, the willingness to attribute oil prices primarily […]

Nigeria struggles to meet Opec quota

Persisting unrest and violence in Nigeria’s Niger Delta is preventing the African oil producer from meeting its Opec output quota, a senior Nigerian oil ministry official said today. Opec has set Nigeria an implied production target of 1.67 million barrels per day that came into effect on 1 January. “The problem is with the Niger […]

Mining the moon, they hope

If we can mine natural resources underground or underwater, then why not in outer space? That is the kind of thinking that will rule this week as some of Canada’s top engineers gather in Toronto for the Canadian Institute of Mining, Metallurgy and Petroleum’s (CIM) annual conference. One of its ongoing mandates is to make […]

Thrifty wartime habits return

Sir Winston Churchill famously urged the UK to both eat and dig for victory to help cope with the shortages brought on by the war against the Nazis. Now it would seem Second World War austerity is very much back in vogue to combat a newer but equally unforgiving enemy – the global recession. According […]

Safety threat to planned nuclear power stations

Devastating blow as leaked letter shows regulator could pull plug on proposed UK reactors because of ‘design errors’ Britain’s plans to build a new generation of nuclear power stations have been thrown into jeopardy by startling official safety fears. The nuclear regulatory body in Finland, where the first of the reactors is being built, has […]

When the oil gives out (new book excerpt)

One way to evaluate the prospects of Eldertown might be to start from the viewpoint of one of the more apocalyptic environmental groups. The peak oil movement focuses tightly on the issue of energy, the Achilles heel of industrial society. Convinced that global oil production will soon peak In the near future, as a growing […]

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