Global economy to get 'shock of its life' when oil hits triple digits

Energy expert and former CIBC economist Jeff Rubin says he’s doesn’t give a hoot if politicians read his book. When oil prices soar, ‘the folk’ will force the political players to do the right thing. Jeff Rubin says global economy will get the “shock of its life” within 12 months of the end of the […]

Silk Road threatened by melting glaciers

The Chinese gateway to the ancient Silk Road is being flooded Once the eastern gateway to the Silk road, the Hexi corridor is sandwiched between the Qilian mountains to the southwest, and lower mountains bordering the Gobi desert to the northeast. “This is an extremely arid area, with an average annual precipitation of about 125 […]

Nigerian rebels attack oil facility, eyes offshore

ABUJA (Reuters) Chevron said it was looking into the report. The U.S. oil major has already shut down its operations around Delta state after MEND’s first pipeline attack on May 24, halting about 100,000 barrels per day of oil output in Africa’s biggest oil and gas producer. Oil markets have largely shrugged off the latest […]

Before Adding, Try Reducing

The U.S. government offers a lot of subsidies to expand renewable energy. Should it be doing more to subsidize conservation? The U.S. government is committing billions of dollars to support renewable energy such as wind- and solar-power plants. Some say it should use more of that financial clout to encourage less energy consumption in the […]

Climate Change Costs: Stern Review Update

The costs of climate change are going up, warns Alex Bowen, the senior economist on the team that produced the seminal Stern Review on the Economics of Climate Change. But a global green recovery could cut those costs. Published by the UK government in 2006, the Stern Review has been hugely influential in the climate […]

International Agreement on Climate Treaty Seems Unlikely in 2009

It seems unlikely that an agreement on the terms of the next climate treaty could be reached at the December-scheduled Copenhagen talks. The United States, not a member of the Kyoto Protocol and one of the major players in the international negotiations tussle over the climate treaty, has not yet reached a consensus over how […]

Inflation alarm after oil surge

Inflation will be back at center-stage for financial markets next week with oil’s surge past $70 a barrel and rising bond yields rekindling worries about long-term borrowing costs and the fragile housing sector. A series of inflation readings for May in the United States, Britain and the euro zone will focus investors’ minds after oil […]

Can We Be Honest About Energy That Will Last?

Over the last several decades, the general assumption has been that enough oil could be found and produced to meet what was expected to be continuously growing demand. The relationship took on the sheen of the world’s most obnoxious economic booster, flogging the idea of growth while angrily shouting down anyone who suggested that there […]

Rising oil prices will buy off democracy

Dictatorships, as well as democracies, depend on money, although North Korea and Zimbabwe would like to prove the contrary. Dictators have their own constituencies and their constituencies have their own costs. The victory of Mahmoud Ahmadinejad may have been fraudulent; it is certainly bad news for the Iranian people and the world. It means that […]

Green 'supergrid' could plug Europe into renewable power by 2030, say

Europe could build an electricity supply based entirely on renewable energy by 2030, according to scientists making a presentation at the House of Commons this week. MPs will hear that an electricity “supergrid” across Europe and North Africa could solve the problem of the intermittency of wind turbines and solar power and dispense with the […]

Pump pain

So Anyway, a significant part of the energy business here is focused on natural gas, a sector where prices remain sluggish after spiking up a couple of years ago. The result is shut-in wells and a growing concern that shortages and steep price hikes could be in the offing later in the year. The crude […]

Aircraft Could be Flying on Biofuels within 3 to 5 Years

Within three to five years, the first drops of sustainable aviation biofuels could be entering the tanks of aircraft, according to the Geneva-based Air Transport Action Group (ATAG). In order to inform industry employees and members of the flying public about this “new age in flight”, the group this week launches a new publication, The […]

Oil Age still has some time to run

It would be fair to extrapolate that Chinese per capita use and overall use is probably going to grow dramatically in the next few years and that the one statistic that passed the tipping point in 2008, non-OECD oil consumption exceeding OECD consumption for the first time, is also a harbinger of what’s to come. […]

Chavez's expropriation of oil service firms could spark labor unrest

Now the stage is being set for a confrontation between Chavez and the local power structure, including unions, management and local government, with PDVSA’s oil production activities caught in the middle. Oil production, which has fallen 25 percent during Chavez’s time in office, could slide still further and weaken the national economy. Political unrest could […]

Secret papers 'show how Shell targeted Nigeria oil protests'

Serious questions over Shell Oil’s alleged involvement in human rights abuses in Nigeria emerged last night after confidential internal documents and court statements revealed how the energy giant enlisted the help of the country’s brutal former military government to deal with protesters. The documents, seen by the IoS, support allegations that Shell helped to provide […]

Kurds lay claim to oil riches in Iraq as old hatreds flare

Sitting on vast untapped oilfields, the northern Iraqi city of Kirkuk has the natural resources to become one of the wealthiest places in the Middle East. But a standoff has developed between local Kurdish leaders and Baghdad over rights of ownership. And in Kirkuk itself, ethnic tensions are rising In mid-2003, as Baghdad fell, Simzad […]

White Rooftops May Help Slow Warming

Could climate change be staved off by making the United States look like a scene from “Mamma Mia!”? That was suggested in a recent talk by Energy Secretary Steven Chu — although, because he was speaking to Nobel laureates, he did not mention the ABBA musical set in the Greek islands. He said that global […]

Too Poor to Make the News

THE human side of the recession, in the new media genre thatBut the outlook is not so cozy when we look at the effects of the recession on a group generally omitted from all the vivid narratives of downward mobility

Attack Demonstrates Pirates Expanding Reach

DUBAI — Pirates commandeered a cargo ship in the territorial waters of Oman, dramatically extending their area of operation and threatening for the first time shipping in and out of the oil-rich Persian Gulf. The hijacking, reported over the weekend, took place Friday. It follows another failed attack nearby earlier last week. A fleet of […]

Nigerian militants say destroy Chevron oil wells

LAGOS (AFP) A Chevron spokesman said it was investigating the claims and that “we are working to ensure the safety of our people, restore the integrity of our operations as soon as possible.” The company confirmed earlier Saturday that a MEND attack the previous day had damaged oil and gas pipelines. AFP

Interview with Nick Griffin- Leader of British National Party.

This country is the most overcrowded in Europe. To some extent I would agree with the greens that its proper carrying capacity is about 30m. Particularly with the peak oil problem Independent

We need a stable oil price-Strahan

BP famously “doesn’t do” oil- price forecasts. After 18 months in which crude has ricocheted from just under $100 per barrel to an all-time high of $147, then down to less than $40, and now up to $73 again, you can see their point. But at the launch of its annual Statistical Review of World […]

How Much Oil Is In The Arctic?

One way to know that the end of the Age of Oil will soon be upon us is the current excitement and chatter about goingBusinessInsider

Oil must reach $90 to stabilise market -Algeria

The global oil market could stabilise if crude prices rise to around $90 a barrel and that is likely to happen in the second half of 2010, Algerian Energy and Mines Minister Chakib Khelil said on Saturday. “A price which ensures the stability of the oil market must evolve around $90 a barrel. It should […]

Oil prices will be driven upwards by the needs of developing nations

Since March, then, the entire oil futures curve has shifted decisively upward. But during that period the International Monetary Fund downgraded its global growth forecasts DailyTelegraph

Rush for

This month an Iraqi politician will appear on television to open envelopes and reveal the winners of a long and hard-fought contest. In the balance hangs the wellbeing of 28m people, tens of billions of dollars of contracts and how much you and I pay for everything from yoghurt pots to petrol. It should make […]

Jeff Rubin: Warming up to carbon tax

Efforts in the developed world to restrict and replace coal-fired capacity seem downright quixotic when juxtaposed against China’s (and other developing countries’) coal-expansion plans. Whatever reduction in greenhouse gas emissions is achieved in the world’s developed economies from switching away from coal will simply be overwhelmed by the increase in emissions from new coal-fired plants […]

Don't be in any hurry to write off suburbia

Recently, the Ontario Heritage Conference was held in Peterborough. The two main speakers were author and social critic James Howard Kunstler and McGill University professor Avi Friedman. Both spun similar messages agreeing that the day of the subdivision is dead, predicting they will be replaced by walkable neighbourhoods in which inhabitants do not need cars […]

Your life is awash with oil

Oil is filthy old stuff that causes nothing but pollution all the way through our use of it, but why, oh why do we keep going back for more. Pretty simply, we How can this be so, and what is so special about oil? Firstly, there is a lot of oil around. Enough that for […]

Canadian economist predicts a smaller future

Why Your World is About to Get a Whole Lot Smaller, by Jeff Rubin The short answer to the question implied by the title of this new book by former CIBC economist Jeff Rubin is that oil scarcity inevitably leads to higher transportation costs, curtailing global trade and travel. As we all learn to live […]

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