$70 oil menaces budding recovery

As oil prices rise, some say already weak consumer spending is in danger of taking an even harder hit. NEW YORK (CNNMoney.com) — Two weeks change a lot in the oil markets. At the end of May CNNMoney.com ran a story asking if $60 oil will kill any economic recovery. ‘No,” most analysts said – […]

EIA: Total US Natural Gas Consumption Seen Falling 2.2% In 09

HOUSTON -(Dow Jones)- The U.S. Energy Information Administration on Tuesday expects natural gas prices to remain below $4 a thousand cubic feet until late this year amid robust supplies and weaker demand resulting from the economic downturn. Industrial gas consumption is forecast to decline by 8% this year, unchanged from last month’s forecasted decrease, according […]

Lester Brown: A Warming World Means More Destructive Storms

Elevated global temperatures bring a number of threats, including rising seas and more crop-withering heat waves. Higher surface water temperatures in the tropical oceans also provide more energy to drive tropical storm systems, leading to more-destructive hurricanes and typhoons. The combination of rising seas, more powerful storms, and stronger storm surges can be devastating. …Against […]

Gasoline spikes above forecast for summer high

While the summer driving season has been underway for only two weeks, gasoline prices have already blown expert forecasts for highs for the summer. Average prices at the pump on Monday were $2.62 a gallon, according to AAA, up 16 percent from just a month ago, and over the $2.50 a gallon high that AAA […]

Refinery construction costs fall 9 pct – IHS CERA

HOUSTON (Reuters) – U.S. refiners struggling with slack gasoline demand, sinking profit margins and soaring inventories could see one bright spot on the horizon in the form of falling construction costs, according to a new report released on Tuesday. According to IHS Cambridge Energy Research Associates, an energy consultancy, the cost of building new refining […]

Why Now Is the Time for Business to Go Green

“Why now?” should really be “why not yesterday?” There are a multitude of global trends signaling a needfor sustainable business-climate change, populationincrease, rapidly developing nations, resource depletion,environmental degradation, society’s toxic burden, the loss of biodiversity, the prospect of peak oil, and more. The bottom line is that we need to learn to do more with […]

New research led by CSIRO Climate Adaptation Flagship and University of Queensland scientist, Dr Anthony Richardson, presents convincing evidence that this

Nuclear fusion power project to start in slimmed-down version

MARSEILLE, France (AFP) Discussions are underway about the best timetable,” Catherine Cesarsky of France’s Atomic Energy Commission (CEA) told journalists on the sidelines of a science conference here. “There is a new commissioning strategy, a detailed discussion about the machine’s deployment.” A decision approving the change will be put next week to the partners in […]

Ethiopian rebels threaten foreign oil companies

ADDIS ABABA (Reuters) “Certain multinational oil corporations are intent on exploiting Ogaden fossil fuel resources in alliance with the current Ethiopian regime that is committing genocide and war crimes in Ogaden,” it said in an emailed statement. “Besides destroying the livelihood of the rural population in the affected areas, these companies are filling the coffers […]

Global airlines fear oil rally as losses mount

KUALA LUMPUR (Reuters) “Our industry is in survival mode,” IATA Director General Giovanni Bisignani told the aviation body’s annual meeting in the Malaysian capital. “I am a realist. I don’t see facts to support optimism,” he said. “This is the most difficult situation the industry has faced.” Reuters

Energy fuels new 'Great Game' in Europe

The giant Russian energy company, Gazprom, which controls the world’s largest reserves of natural gas, has issued a stark warning to the European Union saying it must decide if it wants to continue receiving supplies of Russian gas. Speaking in a BBC interview, Gazprom deputy chairman Alexander Medvedev warned that Europe was now at a […]

Richard Heinberg: Look on the Bright Side

Recently I’ve begun compiling a list of things to be cheerful about. Here are some items that should bring a smile to any environmentalist’s lips:

New greenhouse gas emissions pact should consider humanitarian suffering

The Inter-Agency Standing Committee (IASC) said that the successor pact to the Kyoto Protocol, with nations expected to wrap up negotiations in Copenhagen, Denmark, this December, must take a practical approach to help alleviate the suffering of vulnerable populations caused by extreme weather and environmental degradation. The Committee noted that the Copenhagen agreement has potential […]

Stagflation Scenario Stalks U.S. as Commodities Jump

(Bloomberg) — As if General Motors Corp. didn It isn

Train can be worse for climate than plane

True or false: taking the commuter train across Boston results in lower greenhouse gas emissions than travelling the same distance in a jumbo jet. Perhaps surprisingly, the answer is false. A new study compares the “full life-cycle” emissions generated by 11 different modes of transportation in the US. Unlike previous studies on transport emissions, this […]

Energy realism – finding common ground

Americans share common ground when it comes to this country’s energy goals. We aspire to an environmentally responsible approach to energy that will help our country be more self-sufficient while not putting the cost of energy out of reach for American consumers and businesses. But we seem to have less common ground in the discussion […]

Brighter days seen for solar, next-gen biofuels

Big changes are afoot in the fledgling alternative-energy industry. As the sector recovers from the 2008 financial market meltdown, insiders look for next-generation biofuels and solar technologies to start joining mainstream energy markets, while wind power continues to lean heavily on government support. As the sector recovers from the 2008 financial market meltdown, insiders look […]

Oil Traders Storing Crude on Seven Tankers Off U.K.

(Bloomberg) — Oil companies are storing crude on at least seven supertankers off the coast of the U.K., enough to supply the country for more than a week, even as higher prices reduce the incentive to put more oil into storage. Seven Very Large Crude Carriers, containing as much as 14 million barrels of North […]

Life behind the plow after Starbucks

Brace yourself for record-high gas prices. We’re already paying almost a buck a litre as we reel through the worst recession since the Great Depression. So just how fast and how high will prices soar when the recession ends and economic engines start firing again in China, India, North America and Europe? We’re not just […]

Willem Schulte says we have enough oil, for now

Today, fossil fuels still supply most of the world That is Dr. Willem Schulte, Chief Scientist for Reservoir Engineering for Shell. He says that while there is a lot of oil and natural gas remaining, its getting harder to recover. Willem Schulte: For the medium term, we have enough hydrocarbons to supply to the world. […]

Peak Coal: What Do Tighter Coal Supplies Mean for

Because worries about peak oil, peak uranium, and peak lithium just aren …If U.S. coal supplies are tighter than thought, that could have big implications for the great black hope of U.S. energy policy: so-called clean coal, or coal-fired plants that capture and store their emissions of greenhouse gases. That

The CEO Poll: On black gold

The CEOs weigh in on peak oil and the cost of the energy source. Peak-oil theory has steadily been gaining traction over the years. A survey conducted recently by COMPAS Inc. found a majority of Canadian CEOs polled subscribe to peak-oil theory

Oil: The rise and fall . . . and rise

…Demand for crude, however, is considerably less volatile than the price. Even as the rally unfolded this spring, commentators often repeated the view that higher prices made no sense because use of the fuel had collapsed. But “collapsed” doesn Wall Street, bullish oil traders and the Obama administration all are betting that the U.S. economy […]

Airlines 'to lose $9bn' as they fight to survive recession

Airlines will lose $9bn (Guardian

West and Russia spar, China wins

When the Kremlin proposed Khabarovsk as a possible venue for the European Union-Russia summit meeting of May 21-22, Vaclav Klaus, Czech president who holds the revolving EU presidency, reportedly warmed up to the idea. Khabarovsk has nothing to match the architectural ensemble in Prague. But the frontier town in the Russian Far East, nine time […]

Europe's pipeline politics

On the shores of the Baltic Sea, among the sea birds and sand dunes, a quiet energy revolution is taking place. If all goes to plan, the island of Ruegen, off the coast of Northern Germany, will host the terminal for the massive new Nord Stream gas pipeline connecting Russia with the heart of Western […]

Total battles to extend life of North Sea field

Extreme technical conditions and declining production — Total’s Elgin Franklin platform in the North Sea shows the challenges of oil that is becoming scarcer and harder to reach. To the untrained eye a 33,000 tonne jumble of interlaced pipes perched 22 metres above the freezing waters of the North Sea, Elgin pumps 7 percent of […]

Petrol prices 'to hit £1.15 a litre'.

Motorists face another summer of misery at the pumps, with prices likely to reach 115p a litre over the next few months, warn analysts. The average price of unleaded fuel broke through the DailyMail

Brazil mulls tax on sub-salt oil reserves

Brazilian officials drafting a reform of the oil sector will propose that President Luiz Inacio Lula da Silva create a federal tax on companies developing offshore oil reserves deep under the ocean floor, a local newspaper reported Monday. Proceeds from the new tax would be used to fund federal government social spending, newspaper O Estado […]

Iran opens largest Mideast gas injection project

The largest gas injection project in Mideast was inaugurated on Monday in Iran’s southwestern province of Khuzestan, the official IRNA news agency reported. The inauguration ceremony, attended by Iranian Oil Minister Gholam-Hossein Nozaria and other Oil Ministry officials, was held in the Aghajari oilfield, situated some 125 km away from Khuzestan’s capital city of Ahvaz, […]

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