Iraqi oil exports reach 2003 levels

Crude oil exports from Iraq reached 2.4 million barrels per day, their highest level since after the U.S.-led invasion in 2003, the Iraqi oil minister said. Iraqi Oil Minister Hussain al-Shahristani, who faces criticism from lawmakers over the performance of the Iraqi energy sector during his tenure, said oil exports reached 2.4 million bpd and […]

Cuba's energy woes in focus at oil partners meet

Venezuela aims to expand its sales of oil to Cuba and other nations on highly preferential terms, putting politics over economics as it meets Friday with neighbors looking for more cheap fuel. Cuba especially needs the help. It already benefits from Venezuela’s largesse more than any other member of the Petrocaribe pact that has boosted […]

"Non-monopoly" oil firms safe from seizure-Venezuela

Venezuela has “no reason” to nationalize foreign oil well drilling service companies that are not “monopolistic”, in contrast to gas and water injection projects seized last month, the country’s oil minister said on Thursday. Rafael Ramirez said oil well service operations, such as drilling rigs run by Halliburton Co (HAL.N), Schlumberger Ltd (SLB.N) and Baker […]

Aussie nuclear stake 'not guaranteed'

Australia must avoid complacency if it wants to secure a stake in the world’s uranium market, an industry figure says. Executive director of the Australian Uranium Association, Michael Angwin, said Australia was poised to cash in on a growing acceptance that nuclear energy offers a solution for reliable energy with a low carbon footprint. But, […]

Norway May oil output falls to 1.79 mln bpd

Norway’s oil production fell to a preliminary 1.79 million barrels per day on average in May from 1.99 million in April, the Norwegian Petroleum Directorate said on Friday. Production of natural gas liquids (NGL) and condensate fell to a preliminary 339,000 barrels per day in May from 371,000 in April, the directorate said in a […]

OPEC says worst is over for the oil market

OPEC, the oil producers

The coming U.S.-Saudi fight over "energy independence"

Are the United States and Saudi Arabia on the verge of serious tensions? They might be Despite serious recent Saudi efforts to diversify its economy away from dependence on crude oil exports, the certainty that large-scale use of hydrocarbon alternatives remains years away, and conservative budgeting that ensures the Saudis are hurt less than most […]

Candidate for US Senate Wows O&G Delegates at the NG O&G Summit

Commissioner Elizabeth Jones, a recognised leader in the field of energy supply, and recently announced candidate for the US Senate, wowed an audience of top Oil & Gas executives at the Next Generation Oil & Gas Summit last week in Colorado. The Commissioner As a fourth generation family member in energy supply, her passion and […]

Financial crisis: high noon on the high street

…While it is clear that Totnes is hardly the typical British town, something is stirring there that could have a profound influence on the shape of every high street in the future. Totnes is the birthplace of the Transition movement, which aims to strengthen local communities and develop resilience (a favourite Transition word) in the […]

Peak Oil: Good Things Could Happen to Us

Peak oil is usually defined as the point at which the world’s consumption of this crucial fuel reaches the supply available on the market. When this occurs, oil becomes a scarce commodity and demand forces dramatic increases in price. A hint of this happened in August of 2008 when oil reached an unprecedented $147 per […]

China Refines Record Oil on Factory Output, Car Sales

(Bloomberg) — China, the world Industrial production expanded 8.9 percent last month, boosting fuel use and adding to signs China is recovering from its worst slump in almost a decade. Passenger-vehicle sales surged 47 percent in May, the most since February 2006, as government stimulus spurred consumer spending. Gasoline output climbed 30 percent while diesel […]

BP Says Demand for Oil in U.S. Gasoline Market Peaked

(Bloomberg) — BP Plc Chief Executive Officer Tony Hayward said demand for oil coming from the U.S. gasoline market

US climate bill, UN pact seen more likely in 2010

The U.S. energy bill may not pass until next year, which could also delay an agreement to extend the Kyoto Protocol on cutting global greenhouse gas emissions until 2010, experts said on Thursday. Without action from the United States, rich and poor countries will remain divided on the climate change issue. The focus in Copenhagen […]

Michael Klare: Goodbye to Cheap Oil

It’s official So here’s the headline for you: For the first time, the well-respected Energy Information Administration appears to be joining with those experts who have long argued that the era of cheap and plentiful oil is drawing to a close. Almost as notable, when it comes to news, the 2009 report highlights Asia’s insatiable […]

Study: Jobs in fledgling green sector growing

NEW YORK The average job growth in all industries was 3.7 percent during the same period. The entire energy sector has experienced growth in recent years as well, according to the Bureau of Labor. Bureau data shows coal mining jobs jumped 16 percent from 2003 to 2009. Oil and gas extraction jobs jumped 28 percent. […]

Peru suspends decrees that fueled Amazon violence

LIMA (AFP) A decree related to governing private investment also was suspended. The decrees are vehemently opposed by the approximately half-million Indians of 65 ethnic groups who live in the Peruvian jungle. The natives, who see the development of the jungle as an assault on their way of life, have been holding protests since April […]

House GOP offers nuclear-loaded energy bill

WASHINGTON “You have a conflict of visions between the Democratic approach and the Republican alternative. It is a difference between the carrot and the stick,” said Rep. Mike Pence, R-Ind., who chaired the Republican task force charged with developing the legislation, which will be introduced this week. The Democratic bill has the support of the […]

Imported minerals, metals fuel U.S. shift to homegrown power

A U.S. clean-energy boom could force the nation to shed its addiction to foreign oil, only to develop a dependence on imported minerals and metals. Clean-energy technologies — solar photovoltaics, geothermal, compact fluorescent and light-emitting diode lighting, and wind turbines — depend on globally scarce materials, some ofwhich are produced only in unstable nations. “I’ve […]

FEMA Launches Effort to Measure Impact of Climate Change on Flood Insurance

Federal officials are struggling to calculate the fiscal impact that climate change could have on the nation’s troubled public flood insurance program, amid predictions of intensifying downpours and more potent hurricanes. The mission is proving extremely difficult, according to one researcher, who said the effort so far has failed to reveal even “squishy assumptions.” The […]

The Vindication of a Public Scholar

Forty Years After The Population Bomb Ignited Controversy, Paul Ehrlich Continues to Stir Debate …Reflecting on the warnings he made 40 years ago, Ehrlich acknowledges that he and Anne underestimated the success people would have developing higher-yielding grains, and how that spurred further population growth. But he also points out that there have been perhaps […]

Author Jeff Rubin says peak oil will shrink Asian trade

A well-known economist and author says the B.C. government is looking in the

Consumers feel pinch of high gasoline prices

NEW YORK (Reuters) “It’s putting a hole in my pocket,” said Javier Garcia of Bronx, New York, who noted that the cost of driving his sports utility vehicle has jumped in recent months. “Every two days, I’ve got to spend $30 and that doesn’t fill it up,” he said. With a newborn baby to care […]

IEA Raises Oil-Demand Forecast

LONDON — The International Energy Agency Thursday slightly raised its 2009 world crude-demand forecast for the first time in 10 months in response to gentle signs emerging that an uptick in economic activity is breathing some life back into oil consumption. In its monthly oil market report, the IEA said it expects global crude demand […]

Report blames petroleum industry for 25% of toxic pollutants

WASHINGTON (AFP) Aside from oil and gas extraction, mining, wastewater treatment, electric utilities and chemical manufacturing are named as the principle offenders. “Ninety percent of the 5.5 billion kilograms of toxic pollutant releases and transfers reported in North America in 2005 can be traced to just 30 substances from 15 industrial sectors across the United […]

The Peak Oil Crisis: A Letter From Baghdad

A couple of weeks back the peak oil community received a letter from an officer serving with our forces in Iraq. Despite numerous distractions in Iraq these days, this officer is so concerned that peaking world oil production will soon become a serious problem that he began discussing the future of America’s energy supply with […]

The Crude Reality Of Peak Production

If crude oil can double in value with the world in recession, just imagine what will happen when demand picks up. Prepare yourself. Conspiracy theorists want to blame the meteoric rise of oil from just above $30 a barrel last December to $71 this week on speculation by Goldman Sachs and a bunch of hedge […]

Three Cheers for Peak Oil!

After decades of back-and-forth, the debate about peak oil boils down to two points of contention: Is peak oil real, and is it cause for concern? But instead of arguing tired positions that don I

Highly vulnerable to oil shortages

ONE of the world’s leading energy experts has warned that Australia will be one of the first countries hit hard by oil shortages as oil production peaks within the next three years. Kjell Aleklett, a physicist from Uppsala University in Sweden, says Australia’s relatively underdeveloped public transport system leaves the country more vulnerable to a […]

Reports: Russia pledges to keep up oil output

MOSCOW “We are not planning to cut the production in the next three years, but it may happen afterward if there is no investment in exploration and production,” he was quoted as saying by Interfax. There is no point in putting a cap on exports either, according to Sechin: “Exports have become more economically reasonable. […]

Not so windy: Research suggests winds dying down

WASHINGTON “It’s a very large effect,” said study co-author Eugene Takle, a professor of atmospheric science at Iowa State University. In some places in the Midwest, the trend shows a 10 percent drop or more over a decade. That adds up when the average wind speed in the region is about 10 to 12 miles […]

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