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That gas-price ‘record’ really isn’t one (or is it?)
Larry Goulder, a Stanford University professor, said the true costs of the country’s driving-dominated culture are hidden, and that Americans actually pay much more for gasoline than the price they see at the pump.
Among the hidden costs he cited are military expenses of protecting Persian Gulf and other oil supplies; health care expenses to treat asthma, cancer and other diseases tied to auto emissions; and expenses to prevent or repair related environmental damage.
Richard Heinberg, author of a 2003 book on the depletion of world oil reserves, said politicians seeking public office in the United States can’t disclose the true cost of gasoline because Americans wouldn’t accept it.
French threat to switch off UK power
‘This is no empty threat,’ he said. ‘We have only to throw a switch and the lights will go out over a chunk of England. We will choose a time when demand is high so consumers suffer most and we will get more publicity for our cause.’
Is ‘global dimming’ under way?
WASHINGTON
Scammers Strike Oil
Con artists have found a way to capitalize on high oil and gasoline prices — and natural human greed.
Lisa Lee Freeman, deputy editor of the Consumer Reports Money Adviser, said right now, people are thinking that others must be making money on oil and gas ventures — so how can I get on board?
Then, they get a call from some shady character offering what’s touted as a sure-fire way to profit from today’s oil turmoil. Freeman said victims are being pitched investments in new drilling technology that supposedly recovers oil still left in old lines. But the reserves are often overstated, and the offers are nothing more than scams.
The Consumer Reports Money Adviser said if you’re looking for a piece of the action in the oil market, the smart route is to invest in a mutual fund specializing in energy. Some of those have seen handsome returns in recent years.
Copyright 2004 by The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
A war for oil?
To uproot al-Qaida would be difficult and bloody. It might split the princes and the religious establishment, perhaps even spark a revolution and invite the intervention of foreign powers, the Iranians, the Egyptians, perhaps even the United States with its 130,000 troops next door in Iraq.
Greater efficiency, not a new wonder fuel, is the answer to higher oil prices
Higher priced energy will slow global economic growth and that damages living standards everywhere, including the UK. No, I think the big issue is the extent to which high-priced fossil fuels stimulate the quest both for greater efficiency in energy use and the development of alternative sources. And the great unknown is whether there is a radical alternative out there, already in some laboratory, that will change everything. It has to be out there now, for it typically takes 30 years for a development to get from the initial invention to widespread global application.
Atoms teleported by U.S., Austrian teams
By CHARLES CHOI, United Press International NEW YORK, June 16 (UPI) — Two separate research teams have demonstrated teleportation of information using atoms for the first time, scientists reported Wednesday. The novel trick someday could help information flow inside quantum computers, machines that in theory can run more calculations in an instant than there are […]
2005 FORD HYBRID SUV
The no compromise Escape Hybrid drives normally, performs superbly and offers all the features you’d expect from the SUV leader. Roomy, comfortable seating for five, a versatile cargo area, 1000-pound towing capacity, and an optional Intelligent 4WD System
Wind Power: clean and safe or potentially dangerous?
“Is wind power as “clean” as we think? The BBC takes a look at some potential downsides, including possible droughts and higher incidences of depression amongst locals.”
Bible ‘Leads to Israeli Oil Bonanza’
Conal Urquhart in Tel Aviv Sunday June 13, 2004 The Observer The bible has inspired many to have faith in heavenly joy, but now an Israeli company believes it has helped it find wealth on earth. In an announcement that could shift the power balance in the Middle East, it claims to have discovered a
U.S. Urges Americans to Exit Saudi Arabia
WASHINGTON – The U.S. government renewed its call on Monday for Americans to leave Saudi Arabia after the recent terrorist attacks, saying the safety of U.S. workers was more important than any effect on oil supplies or the Saudi economy. Yahoo
Govt to invest in ‘green’ energy
[Australian] Prime Minister John Howard is expected to reveal a $500 million plan to encourage the private sector to develop energy technologies that release low levels of greenhouse gases today.
Asia seeks dialogue with Opec
Indonesia, a member of both Apec and Opec, may offer to host an Opec meeting in Asia. “That is something that Indonesia is going to consider,” Perez said.
Facing Some Of The Hard Truths About Energy
Lee R. Raymond, Exxon Mobil CEO writes:
we expect fossil fuels to provide about 80 percent of the energy used in 2020, and to increase — and I emphasize increase — in absolute magnitude by about 65 million oil equivalent barrels per day.
Just how much is 65 million barrels per day? Well, it is close to eight times Saudi Arabia’s current crude oil production.
CBS Evening News: Got Oil?
Peak goes mainstreamCBS
Largest rise in demand for oil in two decades
“Oil demand for 2004 is now likely to be 2.3 million barrels per day more than in 2003, according to IEA estimates. This would be the steepest increase in demand since 1980. ”
Nigerian Oil Strike Continues for Second Day
“A general strike protesting high fuel prices in Nigeria is in its second day and there are reports of violence in the capital, Abuja. ”
U.S. Oil Policy Simulation
What would it take to reduce U.S. dependence on foreign oil? “After Saudi Arabia, the U.S. is the second largest oil producer in the world. But the United States also happens to be the largest consumer of oil. Oil consumption in the United States and Canada is almost three gallons per person per day, twice […]
The Bear’s Lair: The effects of $80 oil
“If oil were to reach $80 per barrel, it is by no means certain that a glut of production would be forthcoming, driving its price down once again to a third or a quarter of that level, as happened in 1982-1998. Both current production capacity and world oil reserves are significantly tighter than in the early 1980s. A 2003 study by the University of Uppsala, Sweden suggested that total world oil reserves were only around 3.5 trillion barrels, compared to estimates of between 5 trillion and 18 trillion by the Intergovernmental Panel on Climate Change. This is good news for those fearing global warming (if you haven’t got it, you can’t burn it) but would imply world oil production peaking around 2010, and a future price path much higher than we have seen in the past.”
Exxon Mobil: U.S. Can’t Kick Oil Habit
“Raymond downplayed the hopes that many believe alternative and renewable energy sources will have in helping to solve America’s energy problems.
In particular, he said corn-based ethanol is “neither an economic or energy-efficient choice, as it can require more energy to produce that it generates in the end.” ”
”This lack of spare production capacity has left the world’s oil markets walkin
“LONDON (Reuters) – The OPEC oil cartel lifted production in May as Saudi Arabia and the United Arab Emirates began to boost crude exports in a bid to rein in runaway prices, a Reuters survey released on Tuesday found. ”
Oil supplies: we’re on a knife-edge
“OIL supplies are now so tight that just 1.5 million barrels of oil a day – less than 2% of global production – is keeping another potentially devastating surge in energy prices at bay, experts have warned. ”
President Reagan Dies @ 93
“Ronald Reagan: A life on the public stage”
US Army Issues Troops Stop Loss Orders
US Troops Told They Can’t Leave Army
‘Stop-loss orders’ keep soldiers in service if their units are set to be deployed to Afghanistan or Iraq. Officials call move ‘finger in the dike.’
China province to liquefy coal to fill oil supply gap
The feasibility report on a direct coal liquefaction project has recently passed experts’ appraisal in Kunming, the provincial capital. The expert team forecast the application and popularization of the technology would help the province realize 1trillion yuan (120 billion US dollars) in output value by turning 15 billion tons of coal into 3 billion tons of gasoline or diesel.
The Underpopulation Problem?
“If people stop breeding when they become rich, then we have stumbled across the perfect, self-regulating solution to resource depletion and ecological collapse. For the first time in history we may have developed a mechanism which prevents us from wolfing our way to extinction.”
Prices lead teens to cruise control
“I don’t drive around like I used to,” said Puckett, 23. Instead he and his friends “park and sit.”
As gas prices rise, they see fewer and fewer friends even making the drive to the parking lot. On a normal weekend night, 200 cars would be here, some said; on a recent Saturday night, there were about 40 cars.
OPEC bypasses the quota system – is the peak now?
“OPEC ministers said they will increase oil production and prevent shortages, allowing members to pump at will and bypass the quota system that has governed supplies for most of the last two decades.”
http://quote.bloomberg.com/apps/news?pid=10000087&sid=ax8zYnKw9Mxg&refer=top_world_news
Is an oil peak upon the world?
“Humanity’s way of life is on a collision course with geology
Oil Hits $42 Record After Saudi Attack
LONDON (Reuters) – U.S. oil prices leapt to a record $42 a barrel on Tuesday after an attack in Saudi Arabia by Islamic militants killed 22 people, heightening fears about political instability in the world’s biggest oil exporter.
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