Iraq plans to become OPEC's top oil producer

Iraq has assessed that it would become the leading crude oil producer by 2016. Iraqi Oil Minister Hussein Al Shahristani said his country would steadily increase oil production over the next seven yearsAl Shahristani said this would make Iraq the world’s top oil producer over the next six to seven years. “We cannot find a […]

Iran sets up national energy fund, oil minister says

Iran has established an energy fund backed by the Central Bank and other Iranian banks to help finance investments in the sector, Oil Minister Massoud Mirkazemi said on Sunday. “The National Energy Fund, with the help of the resources of four local banks and the Central Bank, has been established to help finance major parts […]

When Windmills Don

For those who suspect residents in places like Minnesota of embellishment when it comes to their tales of bitterly cold winter weather, consider this: even some wind turbines, it seems, cannot bear it. Turbines, more than 100 feet tall, were installed last year in 11 Minnesota cities to provide power, and also to serve as […]

Racking up miles? Maybe not.

Within a few years, a driver who pulls up to the gas pump may pay two bills with a single swipe of the credit card: one for the gas and the other for each mile driven since the last fill-up. That may be the result of what many transportation experts see as an inevitable revolution […]

A fracking quandary for EPA

IF THE United States is going to curb its greenhouse gas emissions, it desperately needs a replacement for the high-carbon coal that fuels almost half the nation Now new deposits of natural gas previously locked in shale formations are making that fuel look like a possible transition to a low-carbon future. Federal and state regulators […]

Iran discovers new oil and gas fields – report

TEHRAN (Reuters) – Iran’s oil minister announced on Saturday the discoveries of an oil field and a gas field, estimating the total value of their reserves at $85 billion, a semi-official news agency reported. Massoud Mirkazemi said the newly-discovered oil field called Soumar was located in the western Kermanshah province. “This new oil field has […]

Think-tanks take oil money and use it to fund climate deniers

ExxonMobil cash supported concerted campaign to undermine case for man-made warming An orchestrated campaign is being waged against climate change science to undermine public acceptance of man-made global warming, environment experts claimed last night. The attack against scientists supportive of the idea of man-made climate change has grown in ferocity since the leak of thousands […]

Oil hunters invade the Falklands

Rising prices are tempting explorers back to the waters of the south Atlantic For two months a sky-blue tug boat has been puttering across the Atlantic dragging a 14,400-tonne oil rig. It has been slow going It will be a big occasion. Twelve years have passed since oil companies last went prospecting round the Falklands, […]

Endless Oil: Peak Production vs. Oil Price

Let me begin with the narrative that all of my energy economics students must know perfectly after my second lecture. The Russian oil output is probably close to peaking, and in any event the director of one of the largest Russian firms says that his country will never produce more than 10 million barrels per […]

West rejects Iran's nuke proposal

Top Western diplomats and defense secretaries see Iran as exploiting the negotiating process to ward off new sanctions, while allowing its scientists to further develop highly enriched uranium, which can be used for nuclear weapons. US and European officials at a gathering of the world Mottaki attempted to revive a UN proposal in which Iran […]

The dark side of nitrogen

Few people spare a thought for nitrogen. But with every bite we take The breakthrough, by German chemists Fritz Haber and Carl Bosch (rhymes with posh), made it possible to grow many, many, many more crops per acre. For the last 50 years, farmers around the world have used synthetic nitrogen fertilizers to boost their […]

Australia signs huge China coal deal

An Australian firm has signed a $60bn (AUS$69bn; Under the deal, the firm will build a new mining complex to give China Power International Development (CPI) 30m tonnes of coal a year for 20 years. Analysts say it is further evidence of China’s strong demand for resources boosting Australia’s economy. Most of China’s power stations […]

India's Future Energy Business Plan – Shop the World for More Coal

Despite significant technological advances since the Iron Age, there are few materials on Earth that can replace coal in the steel-making process. There are two varieties of the fuel: metallurgical or coking coal, used in manufacturing, and thermal or steam coal, used in thermal power plants. India is a major importer of coke, and in […]

Dubai Discovers New Oil Field Amid Debt Woes

Dubai announced Thursday the discovery of a new offshore oil field in the Persian Gulf that could boost its economy at a time when the United Arab Emirates’ second-largest sheikhdom is struggling with a multibillion-dollar debt pile. “I can confirm that oil has been discovered and expect production to start within a year,” Sheik Ahmed […]

Petrobras CEO: Peak Oil Production is Now

On Thursday, the energy blog TheOilDrum.com reported on a December 2009 presentation by Petrobras CEO Jose Sergio Gabrielli in which he estimated that world oil production would peak this year. Gabrielli, head of Brazil’s national oil company, joined the ranks of other international oil honchos, including former Aramco executive Sadad al-Husseini and Total’s CEO Christophe […]

Is solar power a bright investment?

If the government offered to pay you If you’ve got the money (which is a big “if”) and, crucially, a sunny, south-facing roof, you can earn a 7%-10% tax-free return, an income that will rise in line with inflation. At the same time, you get to do more than your fair share in reducing the […]

'Rare earth metals are going to be a phenomenon'

Equities and Economics Report writer Victor GonTER: Let’s move on to rare earths, which have been getting a lot of buzz at the various mining conferences. What’s your viewpoint on them and the investment opportunities they represent? VG: Rare earth elements and rare earth metals, in general, are going to be a huge phenomenon. It’s […]

Electric Motors, Made to Order

The electric motors that drive today’s hybrids and electric vehicles are not so different from those pioneered by Nikola Tesla and George Westinghouse a century ago. Like their predecessors, modern electric machines, to use the engineers’ preferred term, are composed of two elements: a fixed housing that contains copper wire wound around an iron core, […]

The Quiet Energy Revolution

How ironic that during the All hail oil! But not too much, because the 21st century won

Arctic climate changing faster than expected

WINNIPEG, Manitoba (Reuters) – Climate change is transforming the Arctic environment faster than expected and accelerating the disappearance of sea ice, scientists said on Friday in giving their early findings from the biggest-ever study of Canada’s changing north. The research project involved more than 370 scientists from 27 countries who collectively spent 15 months, starting […]

Oil price stability heralds new "equilibrium"

…The panic about “peak oil” seems to have receded. It has been evident for some time the total hydrocarbon reserve (including natural gas and coal, as well as shale oil, bitumen and conventional oil from unconventional fields or enhanced recovery methods) will provide plentiful energy into the distant future. The question is engineering and price […]

James Howard Kunstler – Big Slide: A Three Act Play

Available as e-Book, Kindle, and Podcast SARATOGA SPRINGS, N.Y. (Feb. 2, 2010) — Author and social commentator James Howard Kunstler is using live theater, podcasting and a self-published “e-book” to distribute his new three act-play, titled “Big Slide.” The story centers on a large family seeking refuge in the Adirondack Mountains of New York state […]

U.S. Energy Secretary Joins Industry Heavyweights at CERAWeek

Steven Chu will join an impressive list of speakers at CERAWeek 2010, March 8-12 at the Hilton Americas CERAWeek, now in its 29th year, is recognized as a leading forum offering insight into the energy future. Chaired by IHS Cambridge Energy Research Associates (IHS CERA) Chairman and Pulitzer Prize-winning author of The Prize, Daniel Yergin, […]

Banks Lured By

(Bloomberg) — About 30 banks including BNP Paribas SA and Rabobank Nederland NV are being lured back into financing

Feds take deliberate approach of oil shale leasing

DENVER — Concerns and conflict over the first round of federal oil shale leases in the Rockies have made the government more deliberate in the second round, a federal official said Friday. Alan Gilbert, a senior adviser to Interior Secretary Ken Salazar, said during an oil shale forum that a team of federal and state […]

Mottaki Says Iran Is Serious About Nuclear Fuel Deal

(Bloomberg) — Iranian Foreign Minister Manouchehr Mottaki said his country is serious about accepting a deal to have nuclear fuel produced abroad. The U.S., its European allies and United Nations inspectors suspect Iran is using its uranium enrichment program to build a nuclear bomb. The U.S. wants more UN sanctions aimed at halting the program, […]

Lugar Addresses Global Food Security

Here are the basic parameters of the problem: First, the world’s population is projected to increase to about 9.2 billion people by 2050. Growing affluence in China, India, and elsewhere is increasing demand for resource-intensive meat and dairy products. If this trend toward richer diets continues, those 9.2 billion people may eat enough food to […]

Arctic warming will cost world billions: Pew study

Climate warming in the Arctic will cost the global economy billions of dollars in 2010 alone, according to a study by the U.S.-based Pew Environment Group released Friday. The environmental advocacy organization held a news conference in Iqaluit The study estimated that melting sea ice and permafrost as well as dwindling snow cover would cost […]

Crude Oil Futures Tumble to a Seven-Week Low as Dollar Surges

(Bloomberg) — Crude oil tumbled to a seven-week low as the dollar surged on speculation European governments will struggle to fund deficits, reducing economic growth and prompting the selling of commodities. Oil dropped as much as 5 percent as the euro headed for a fourth weekly loss against the dollar and yen as investors bet […]

Few remain as 1962 Pa. coal town fire still burns

CENTRALIA, Pa. But the state had ordered Lokitis to vacate, leaving the fourth-generation Centralian little choice but to say goodbye

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