Time to lock in energy prices?

Matthew Simmons, Texas author and investment banker and the guy who bet oil will hit $200 a barrel next year, feels pretty good. Oil has doubled to $70 recently as the economy shows signs of life, and “prices do seem poised for the next leg up,” he says on the phone. “By sometime a year […]

Kenya: Power Crisis Deepens

The search for an emergency power producer who will add 100 megawatts to the national grid in two months will begin this morning, pointing to rising concern over the country’s energy security. The Energy ministry and public power producer, KenGen, are expected invite tenders for the supply of emergency electricity to cushion the economy from […]

South Africa: Nuclear Power Coming Back on the Boil in Country

As one energy analyst has observed, Dipuo Peters’s maiden budget vote speech as energy minister this week has shown that nuclear power is still very much on the government’s front burner. Since Eskom’s announcement in December last year that it had put on hold building a new nuclear power station, the government has been at […]

Oil Below $80, Threat to Investments, Say Nigeria, Others

Nigeria on Wednesday declared that an oil price below $80 is a threat to investments in its oil and gas industry. Daily Independent had exclusively reported a serious drop in the asset level of the country’s $120 billion oil and gas investment “as a result of the apprehension by lending banks to finance them.”Like Nigeria, […]

Green Group Asks U.S. To Bar Canada Oil Sands

An environmental group on Wednesday asked U.S. Secretary of State Hillary Clinton to deny permits for pipelines that would bring oil from Canada’s oil sands to the United States. ForestEthics said production from Canadian oil sands, also known as tar sands, generates up to five times more greenhouse gas emissions than conventional oil. It said […]

China will review planned dam that threatens fish

China’s environment ministry said Thursday that it has ordered an ecological assessment for a proposed Yangtze River dam that conservationists fear could threaten hundreds of fish species and drive the giant Chinese sturgeon into extinction. Chinese environmentalists and scientists are trying to halt the Xiaonanhai dam, upstream from Chongqing city in mountainous western China, saying […]

Russia is the weakest link of climate change talks – WWF

Russia’s announcement to reduce its emissions by 10 to 15 percent by 2020 is disappointing and sets a bad example for other countries who are trying to negotiate a global deal to save the world from dangerous climate change. On June 19, President Dmitry Medvedev announced a 10 to 15 percent emissions reduction by 2020. […]

Mundie: Renewable Energy Misses the Point

The head of Microsoft Corp’s $9 billion research unit thinks the debate over stopping climate change is being muddied by talk of renewable energy. Efforts should be focused on stopping output of carbon dioxide, the greenhouse gas which helps heat the planet, rather than moving to a source that can be regenerated, said Craig Mundie, […]

Chilling story of world gas shortage could be all hot air

THE world, and Britain in particular, is running out of gas. The world and Britain is having to rely on imports from states with giant reserves but which are politically volatile or happy to manipulate the market – countries like Russia, Iran and Qatar. Shipments of LNG, the liquefied natural gas technology that is supposed […]

The Peak Oil Crisis: Stifling a Rebound

Since the beginning of the economic troubles some 18 months ago, the question on nearly everyone’s mind was; “When will the recovery begin?” A lot of water has gone over the dam in the last 18 months. An official recession has been declared, millions have lost their jobs, much of Detroit has gone bankrupt and […]

U.S. Oil Imports at Risk and at Odds with Obama Goal

One of the objectives of the Obama administration’s energy policy is to reduce the dependency of the United States on imported oil. This has been a goal of virtually every previous administration starting with President Nixon in 1972. For most of this time, oil imports have grown as U.S. domestic oil production declined and oil […]

Methane controls before risky geoengineering, please

Only about half the warming that has occurred up to now is due to CO2. The rest is caused by other greenhouse gases, particularly methane (Proceedings of the National Academy of Sciences, vol 97, p 9875). Similarly, less than half of the total warming expected over the next 20 years will be caused by CO2. […]

Hens hanging around in the backyard

BOULDER – For 98-year-old Hilda Rabe, the new neighbors in the backyard remind her of her late husband. For 3-year-old Noah Tice-Kepner, they just “feels funny.” Urban Hens is the Boulder-based group that brought them and eight chickens together on Tuesday at the Shawnee Gardens Assisted Living Residence. The coop housing the chickens was built […]

Offshore wind could meet a quarter of UK's energy needs

An extra 25GW of offshore wind energy could be accommodated around the UK The findings, a result of the Government

Robert Bryce: A Letter from Dubai

Peter Wells Provides Perspective on Iran …My guess, and it is a guess, is that Khamenei will try to crush the opposition by intimidation The oil and gas deals with foreign companies are side issues. Given US and UN sanctions, Iran has little choice but to award contracts to Chinese companies. This will not change […]

Is Rig Count About to Rebound? Scenarios for The Future

Last week Baker Hughes reported that their rig count for active rigs in the United States increased by 23 rigs to 899 active rigs. While this count increased from the prior week, compared to a year ago, the rig count is down by over 1,000 rigs marking one of the worst downturns in the industry […]

In poor Leyte town, plastic buys licenses

TACLOBAN CITY, Philippines Rustico Balderian, mayor of the fifth class municipality about 30 km south of here, said the town government started accepting clean plastic materials in March 2009 as payment for services from the municipal government. Plastics such as bottles, sachets, broken parts of chairs and others are accepted as payment by the town. […]

AAA says weak economy will zap 4th of July trips

COLUMBUS, Ohio AAA blames the decline on uncertainty over the economy, particularly the rising unemployment rate and sagging personal incomes. Gasoline prices rose every day for nearly two months, but began to fall on Monday. Gas at this time last year cost more than $4. National average pump prices are 34% lower today at about […]

News Analysis: What is driving oil and gas prices?

… Matt Simmons, founder of Simmons & Co., expects prices to triple in the next year. Oil will continue to rise, as last year’s plunge from record highs to below the 50 dollars mark caused many oil fields to halt production, he told reporters. When production decreased, tight supply drove prices up. Producers will remain […]

Medvedev to seal gas, nuclear pacts in Nigeria

ABUJA (AFP) Another deal would seal “cooperation in the peaceful use of nuclear energy especially for the purpose of electricity” in a country that is struggling to overcome a lingering power crisis, said a Nigerian presidential spokesman. The Kremlin said ahead of the visit that boosting economic ties and trade will be a major focus […]

Japan refiner eyes solar-power business in Saudi

TOKYO (AFP) After initial studies, small pilot plants will be built by 2010 to test technologies, the Tokyo-based company said. The firms will set up a joint venture to expand the business, possibly beyond the Middle East, if the plants prove commercially viable, it said. Saudi Arabia has the world’s largest proved reserves of crude […]

Meltdown 101: Where are the renewable energy jobs?

Everywhere you turn there is talk of a shift to renewable energy, of building wind farms and solar plants, of making buildings more efficient, of developing biofuels. And of billions in federal funding to help make it all happen. This should mean a whole lot of new energy jobs. So where are they The clean […]

Aviation biofuels protest against Virgin, London

Anti-airport campaigners gatecrashed Virgin Atlantic’s 25th birthday party at London’s Heathrow airport yesterday in protest at plans to allow the aviation industry to expand using biofuels. Two protesters dressed as stewardesses climbed on top of the entrance to the Virgin complex at terminal three where the celebration was being held and unfurled banners reading: “Aviation […]

Thomas L. Friedman: The Green Revolution(s)

There has been a lot of worthless chatter about what President Barack Obama should say about Iran The Obama team wants to pursue talks with Iran over its nuclear program, no matter who wins there. Fine. But the issue is not talk or no talk. The issue is leverage or no leverage. I love talking […]

If oil hits $200, globalization becomes localization, author says

Globalization, basically international trade and the transfer of jobs to lower-cost centers, shifted into fifth gear during the recent economic expansion, with record hemisphere-to-hemisphere business. Moreover, while economists expect trade to rev-up again as the global economic recovery starts, one economist is arguing that globalization’s second wave will be short. Author Jeff Rubin, former chief […]

Venezuela to remain major oil exporter

Venezuela will account for 8.13% of Latin American regional oil demand by 2013, while providing 26.46% of supply, according to the latest Venezuela Oil and Gas Report by analyst BMI. Latin America regional oil use of 6.66 million b/d in 2001 reached an estimated 7.61 million b/d in 2008, according to BMI. It should average […]

Indian automakers aim to eat Detroit's lunch

Mahindra & Mahindra’s small diesel-powered trucks to go on sale here by the end of this year, while Tata Motors’ Nano car is slated stateside in 2011. NEW YORK (CNNMoney.com) — It wasn’t too long ago that the thought of buying a reliable car from Korea seemed laughable. Today, Korean vehicles are common fare and […]

With Demand for Crude Declining, Oil Tankers are Sinking

In a precursor of troubled waters ahead for the shipping industry, Frontline Ltd, the worldStockTrader

GM will do 'heavy lifting' toward plug-in goal

General Motors Corp will do the “heavy lifting” to help meet the ambitious goal set by President Barack Obama of having one million plug-in hybrid and electric vehicles on U.S. roads by 2015, a GM executive said on Tuesday. Britta Gross is GM’s director of global energy systems and infrastructure commercialization, a key element to […]

ATA offers suggestions to mitigate dramatic spikes in fuel prices

In an effort to mitigate dramatic spikes in fuel prices similar to those in 2008, the American Trucking Associations (ATA) today called on Congress to increase the transparency of futures markets and impose reasonable aggregate position limits on energy commodities. TheTrucker

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