DrumBeat: April 7, 2007

Financial Sense Newshour

A Discussion on the GAO Report: Crude Oil - Uncertainty about Future Oil supply Makes It Important to Develop a Strategy for Addressing a Peak and Decline in Oil Production. Matt Simmons is the guest.

Pioneering Welsh town begins the transition to a life without oil

There is, as the ads say, no Plan B. The age of cheap oil is drawing to a close, climate change already threatens, and politicians dither. But the people of Lampeter, a small community in the middle of rural Wales, gathered together earlier this week to mobilise for a new war effort. They decided to plan their "energy descent".


Energy Crossroads: A burning need to change course - a documentary about peak oil and climate change


Peak Moment Television presents five new online videos

Moment Television has produced five new online videos focusing on community localization topics from local currency to electric cars, plus a conversation with Richard Heinberg.


Russia dismisses ‘gas Opec’ suggestions at Doha meeting

Russia’s energy minister yesterday poured scorn on suggestions that gas exporters would announce a “gas Opec” at a meeting in Doha next week, pledging that Russia would never take part in such an organisation.


US repeats opposition to Iran-Pakistan-India gas pipeline

The United States says it is ready to help Pakistan get over its energy crisis through "financial and technical support", but remains opposed to the $7-billion Iran-Pakistan-India (IPI) gas pipeline project to bring gas to the Indian sub-continent.


Tajikistan: Subsidies for the Poor Go up

The Tajik government has vowed to continue offering gas and electricity subsidies to low-income families, but NBCentralAsia observers say it will not make much difference if energy supplies continue to be erratic.


Bangladesh - Energy crisis: Contemplating some possible way-out

Bangladesh, geographically, is one of the smallest as well as densely populated countries in the world. Nonetheless, it is blessed with natural resources like coal and gas that are of prime importance as raw materials for electricity generation. Nation's economic emancipation greatly depends on the development and use of these energy sources.


Kenya: State Oil Firm to Ferry Products By Road

Government has allowed oil market to transport petroleum products by road from Kipevu Oil Storage Facility in Mombasa to stem fuel shortage upcountry.

Due to limited capacity of Mombasa-Nairobi pipeline, release of petroleum products from the storage has failed to meet demand leading to shortage around the country.


Turkey suspends pipeline talks with GDF, says decision not final

Turkey has suspended talks with Gaz de France (GDF) over the proposed acquisition by the French group of a stake in a major gas pipeline project, but the decision is not final, a foreign ministry official said Friday.


China and Japan struggle to narrow energy divide

China and Japan have bathed their bruised ties with soothing rhetoric ahead of a visit by Chinese Premier Wen Jiabao, but they remain far apart in settling energy disputes that dog the relationship.


Sri Lanka: Work on Upper Kotmale second phase begins

Minister Seneviratne said that the project would be one of the two options available to face a possible power crisis in the near future, the other being the Norochcholai Coal Power Plant which would be fully operated by 2012 adding 900 MW to the national grid.


Guatemala entices Indian oil PSUs

The government wants state-run oil companies Indian Oil, Hindustan Petroleum and Bharat Petroleum to participate in a refinery-cum-power project in Guatemala.


Ghana: Energy cost bites industry hard

Despite the obvious increase in the cost of production of most local manufacturing companies due to the load shedding exercise, they are scared to increase the prices of their goods to absolve the additional cost.


Australia already on the 'downside' of Peak Oil

Australia has already peaked as an oil producer, MGSM Professor John Mathews said today. But the continued emphasis on fossil fuels – attempts at discovery and further infrastructure investment – mean that Australian companies are missing out on important business opportunities in renewable energies and biofuels.


Ottawa set to announce 'mandatory' pollution cuts

Ottawa is set to announce stricter limits on greenhouse gas emissions following the release of a UN report that warned climate change will have a grim impact this century, the environment minister said Friday.


Forecaster blasts Gore on global warming

A top hurricane forecaster called Al Gore "a gross alarmist" Friday for making an Oscar-winning documentary about global warming.

"He's one of these guys that preaches the end of the world type of things. I think he's doing a great disservice and he doesn't know what he's talking about," Dr. William Gray said in an interview with The Associated Press at the National Hurricane Conference in New Orleans, where he delivered the closing speech.


Climate refugees -- the growing army without a name

"According to some estimates, there are already almost as many environmentally displaced people on the planet as traditional refugees," said Yvo de Boer, executive secretary of the UN Framework Convention on Climate Change (UNFCCC).

"As the impacts of climate change strike home, the numbers are likely to rise considerably, possibly as high as 50 million by 2010," de Boer said on Friday on the sidelines of a meeting in Brussels of the UN's top climate panel.


Jeb Bush part of global trio touting ethanol

An unlikely international trio is making the biofuels pitch for Latin America by taking on Fidel Castro and Hugo Chávez, and attacking U.S. tariffs on ethanol.


Peak Coal and Mountaintop Removal

Lucky for us: There may not be as much coal left as the industry has claimed.


John Edwards embraces enviro politics, a little too warmly

Sure everyone loves to drive, and it would be political suicide to say what really needs to be done -- bring an end to the automobile's dominance of transportation. But at least Edwards could avoid singing the praises of the SUV, if not the car itself. Why can't someone call for a resurrection of passenger rail in this country. James Kunstler suggests that restoring America's once glorious rail era ("we used to have a passenger rail network that was the envy of the world, now it would shame Bulgaria") would go a long way toward boosting the nation's confidence in our ability to reshape the country along environmental lines. And he's right. "A Better Amtrak" isn't exactly a winner of a campaign slogan, but I'm sure Edwards' people could come up with something.


Refiners boosting diesel fuel output in chase of profits - Usage growth rate outpacing gasoline

Rising global demand for diesel is reshaping the U.S. oil refining industry.

While most U.S. motorists pay scant attention to the high price of the trucking fuel when filling up their cars with gasoline, refiners have taken note and are moving to boost capacity for the production of diesel. With long-distance freight hauling increasing steadily in the U.S., and diesel consumption in Europe and Asia growing even faster, fuel producers are looking to diesel for profit growth as the race to supply the U.S. gasoline market gets more competitive.


As population grows, so does responsibility

That's why we're looking at coal, a readily available, relatively inexpensive fuel source that can be used cleanly and safely to generate electricity with new technology that is transforming the industry. The proposed FPL Glades Power Park will be one of the cleanest coal plants in the world.


Fixing Iraq

The amount of money spent on reconstruction is not at all trifling. It is equal or greater than the money in inflation-adjusted dollars spent by the United States on restoring post-Nazi Europe under the Marshall Plan. There are, of course, clear differences between the Iraqi and German experience, as there was less violence and the Europeans were allowed to plan their own reconstruction. The grant money was spent on local companies, not U.S. companies. Most of the money went to fertilizer, food, fuel, raw materials, and semi-manufactured products, not for gigantic building projects.


Asphalt Price Pleases Springdale Official

John Reeves, owner of Asphalt and Fuel Supply in Tulsa, Okla., said suppliers and users of asphalt products stocked up at the end of 2006, pushing the price artificially higher. The supply and price of oil products remained better than expected.

"It was a false shortage," Reeves said. "People bought too much and the demand has decreased."


No Time to Lose

According to our best, most realistic estimates, here’s how things stand globally:

Oil: peaking some time in the next three years, possibly already past the peak.

Gas: peaking some time in the next three to thirteen years.

Coal: peaking some time in the next thirteen years.

Nuclear: probably peaking some time in the next ten years, with lots of variables, but its use won’t increase substantially.