The Oil Drum

Cheap oil days nearing end, UNH prof warns

The supply of oil will peak this decade and the world no longer can depend on it as a cheap energy source, according to a professor at the University of New Hampshire.

Venezuelan 2008 budget estimates oil prices at USD 30-50

Assessments comprise six oil-related scenarios. The first scenario estimates the oil price at USD 30 per barrel, with other scenarios where the oil price is calculated at USD 33, USD 35, USD 40, USD 45, and USD 50. This time, the experts are presenting a high-price scenario, as opposed to previous fiscal years.

Australia: A crude awakening

HAVE the policy mandarins in George Street been sniffing petrol instead of putting it in their taxpayer-funded cars?

It's the only possible explanation for the hare-brained proposal to regulate petrol prices in Queensland.

Qatar seeks $2.5bn to fund power plant

Qatar, holder of the world's third-largest natural gas reserves, wants to triple electricity output from about 3,500 megawatts last year to meet soaring demand, driven by population and industrial growth.

Syrian minister meets Canadian team on oil fields

Syrian Minister of Petroleum and Mineral Resources Sofian al-Alaw met here Monday with a team of Canada's Dublin International Petroleum on the latter's development works in Syrian oil fields.

They discussed the company's efforts to develop and increase production at Ouda and Tishreen oil fields, east of Syria, the Syrian Ministry of Petroleum said in a release.

India pledges 150 mln dlr investment in Myanmar as protests swell

India has pledged to invest 150 million dollars for gas exploration in Myanmar, a statement here said, as pro-democracy protests in its military-ruled neighbour swelled to 100,000 people.

Wal-Mart to study energy impact

Retailer Wal-Mart Stores Inc. said Monday it will partner with a nonprofit climate group to measure the amount of energy used to create products throughout its supply chain.

Wal-Mart said it would work with the group, called the Carbon Disclosure Project, to determine the environmental impact of making DVDs, toothpaste, soap, milk, beer, vacuum cleaners and soda.

Ex-CIA chief: Renewable energy is key for national security

Tapping renewable sources of energy to replace oil is in the national security interest of the U.S. government and its people, former CIA director James Woolsey said Friday.

Yes, The Internet Saves Energy

Recently, in this column, I said this, “I don’t think there’s been a study, and I can’t prove it, but I think the Internet is one of the greatest energy saving inventions ever created.”

Well, now there IS a study to back up my claim. The Consumer Electronics Association (CEA (tm)) thinks the Internet saves energy too; and it’s substantial.

Academy maps out China's strategic energy plan

The plan proposes three steps. The first is to develop energy-saving technology and master techniques in the collection, storage and utilization of carbon dioxide by 2020.

From 2021 to 2030, the focus will be on promoting nuclear energy and other renewable energies so they become main resources and maximizing the efficiency of solar energy.

Over the following 20 years, the academy advocates the reduction of fossil energies (coal, petroleum, natural gas) to less than 60 percent of total energy consumption.

Armed Group Threatened Renewed Attacks In Nigeria's Oil Rich Delta

One of the main armed groups operating in Nigeria's oil rich delta, The Movement for the Emancipation of the Niger Delta, or MEND, has released a statement calling an end to a four-month ceasefire on attacks and kidnappings of expatriates. The statement follows unconfirmed reports that a leading figure in MEND was earlier this month arrested in Angola on arms trafficking charges.

Venezuela to Expand Petrochemicals Production, Chavez Says

Venezuela, the fourth-biggest supplier of crude oil to the United States, will expand its petrochemicals industry during the next five years, lifting annual revenue to $100 billion, President Hugo Chavez said.

Ethanol runs out of gas when you tote up true cost

In the politically motivated rush to replace gasoline with corn ethanol, we may be doing ourselves real economic harm.

China: Cities promote 'energy saving' in blackouts

Beijing authorities switched off the landscape lights and flood lamps at Wangfujing, the busiest commercial street in the Chinese capital, for 30 minutes Sunday night, in the hope of raising the public awareness of saving energy.

Climate change spooks companies

Ever more companies see climate change as a growing threat to their commercial interests, according to a study carried out on behalf of 315 global investors.

But others expect to benefit, says the Global Climate Change Report.

Climate action needed now, U.N. chief urges

U.N. Secretary-General Ban Ki-moon told an unprecedented U.N. summit on climate change Monday that “the time for doubt has passed” and a breakthrough is needed in global talks to sharply reduce emissions of global-warming gases.

Shell president: Energy crisis ‘one hurricane away’ in U.S.

“We are one hurricane away from energy scarcity and volatile, high prices,” Hofmeister said a day after crude oil prices topped $80 — a record, unadjusted for inflation. “We are so tight on the demand-supply relationship.”

Americans for the past half-century have largely enjoyed a lifestyle based on the availability of cheap, abundant energy, Hofmeister said. As demand for energy has grown — the nation today consumes 10,000 barrels of oil per second, he said — its “energy security” has been compromised, he said.

“We have seen our country pass, in my opinion, a tipping point of energy supply keeping up with demand,” Hofmeister said.

Raymond J. Learsy: The NYTimes, The Oil Patch's Faithful Cheerleader Trashes Ethanol

Perhaps it was inevitable. The New York Times with its 'rose tinted glasses' reporting on the world oil industry, standing shoulder to shoulder together with Hugo Chavez and his well rehearsed sense of victimization, bashing "ethanol", happy to undermine ethanol's growing challenge to oils perfidious hegemony over our lives.

The Mogambo Guru: Silver and gold salvation

As regards peak oil, Mr Puplava ominously says, "All the canaries have stopped singing", a reference to the fact that the mining industry used to stick a canary down in a mine to see if the air was poisonous by noting whether or not the bird died, a callousness towards canaries that reminds me of the Federal Reserve policy of constantly creating the poison of too much money and credit, and then watching their indicators to see how many people die a financial death.

Albany activists strive for sustainability

On Saturday, Sept. 29, several Mansion neighborhood residents will host Albany Skill Share 2007, a community-organized conference aimed at teaching city residents how to live self-sufficiently.

"It's kind of a way to prepare for a post-peak-oil society, but it's also about taking any steps you can to reduce the use of petroleum products now," said main organizer Dylan Boyce. "The best way for society to prepare is that everyone knows as much as possible, and whatever happens, they can provide for themselves."

Fears over rush into green funds

Fears are mounting of a bubble in funds investing in renewable energy stocks as asset management companies rush to launch funds to tap into the environmental zeitgeist.

Bush, the Bomb and Iran

To bomb or not to bomb Iran, that's the question the Bush Administration appears to be debating these days, once again revealing the extraordinary disconnect between the White House and the American people. With a catastrophic occupation of Iraq and polls showing the American public so skeptical about the use of military force that only eight percent support military action against Iran, there is nevertheless a clear and present danger that Cheney and the neocons will again prevail and lead this Administration into another disastrous military misadventure.

Taiwan provides Sao Tome and Principe with US$15 million for new power station

Taiwan has provided US$15 million to Sao Tome and Principe for the construction of a new thermal power station in order to overcome the energy crisis on the archipelago, the president of Sao Tome said Friday.

Ohio road projects could be squeezed by higher gas prices

The Ohio Department of Transportation estimates that it may face a $1.5 billion deficit by 2013, partly because the high cost of fuel has Ohioans driving less and buying vehicles that are more fuel efficient. Those choices mean less gas-tax revenue for the state.

India absent as Iran, Pakistan resume gas talks

Iran and Pakistan started a new round of talks over finalising a long-delayed multi-billion dollar gas pipeline project with India, but in the absence of Indian officials.

Officials said India's absence was linked to its lack of agreement on pricing terms with Pakistan for the so-called "Peace Pipeline", which aims to usher in a new era of cooperation between the three countries.

Schwarzenegger, Gore add star power to climate meet

California Gov. Arnold Schwarzenegger and former Vice President Al Gore are set to join world leaders for a U.N. meeting on Monday aimed at spurring global negotiations on how to cool a warming planet.

Maine: Economic development committee mulls rezoning, downtown facades

Co-owner Matthew Simmons' plan for an ocean institute is moving ahead, Hall said, noting up to 25,000 square feet of the building have been designated for possible use for ocean energy research. One component of the ocean center would be nonprofit, and another, entrepreneurial, Hall said, noting a business plan is in place.

Edison on front lines of greenhouse gas effort

In some ways, the challenges Bryson and his utility colleagues face now are tougher than dealing with the chaotic, disastrous electricity market meltdown that hit in 2000 and 2001. How do you provide more power to a growing state without worsening global warming? How do you meet the state's renewable energy goals if the public opposes the necessary wind farms and transmission lines? How do you upgrade an aging power infrastructure and keep customer rates in check?

Global oil extinction: Could be a blessing in disguise for Sri Lanka

This is a several billion dollar market opportunity if the Government is ready to grab it. Here we have a chance of becoming one of the next generation Middle East countries who sat on gold like oil mines. All we have to do is to convert from oil into solar, wind and wave energy as soon as possible.

Biofueling Disorder

Would you believe that the weather in Indiana could trigger popular unrest in China? Global demand for fuel made out of food is growing so fast that grain supplies are becoming dangerously thin. In this market, a hiccup in agricultural production — like a drought in America’s Corn Belt — could cause food prices to skyrocket in countries like China that depend on food imports. When poor urbanites in developing nations suddenly cannot afford to eat, they just might take to the streets in anger.

Viable coal deposits discovered in Kenya

Kenya’s hopes of becoming a coal producer have received a major boost after exploratory drills in two districts in Eastern Province yielded encouraging results, with the country’s cement industry expected to be the first beneficiary.

Wind-Driven Delusions

Now it’s worth keeping in mind that New Jersey is one of the East Coast States that is on record as not wanting to permit any drilling for oil or natural gas on its part of the continental shelf, presumably because the sight of any rigs might dampen property values or pose a hazard to the “pristine” environment. So, let’s see, a few oilrigs are bad, but miles of wind turbines are good.

Nepal: Petroleum Shortage Doing Harm

The shortage of fuel has prodded some sections of the society to stage protests against the government recently. The other day, Kathmandu's taxi drivers created road-blocks protesting the government's apathy in providing fuel easily to them. Students have also protested the short supply of fuel. If the situation continues for long, the average Nepali citizens too would join the protests against the government's failure to ease the supply. Because, these sections of the society are the worst hit by the crunch in fuel. Without fuel, the daily income of public vehicle operators and others suffer while the general people too would feel the hit due to shortage of petrol, diesel, kerosene and most of all cooking gas.

Record numbers join Burmese protests: as many as 100,000 demonstrators take to streets

The protests, which were sparked by a doubling of petrol and diesel prices and a five-fold increase in cooking gas, tapped a deep well of anger in a country in economic crisis. Inflation is running at about 40% and most people suffer real economic hardship.

Yet the protesters' anger against the government appears to have become more broad-based, even though the monks have restricted their demands. They seek only a cut in fuel prices, an apology for an earlier attack on monks, and dialogue between the military and the opposition in order to promote "reconciliation".

Analysts watch, wince as Mexico's oil supply dwindles

The threat of economic sabotage by a shady group known as the Revolutionary Popular Army EPR poses a major new headache for the Mexican government. But Mexico's energy industry problems run far deeper than terrorist attacks on its infrastructure, analysts say, and have major implications for U.S. oil supply.

"Mexico's oil production is in decline. There's probably no way to stop it," said Mike Rodgers, an expert at one of the top oil industry consulting firms, PFC Energy in Houston.

Coming to Grips with Chavez

To understand Venezuela today, you have to understand Venezuela B.C. — Before Chavez. That is, of course, radical left-wing President Hugo Chavez, who is poised to descend on New York again this week. As a graduate student in the 1980s, I was a volunteer teacher at a school in a Caracas slum; when it rained I often had to help families lodge boulders under their ramshackle homes to prevent them from sliding down the steep hillsides. More than half of Venezuela's population lived in similar poverty, even though the country has the hemisphere's largest oil reserves. So shamelessly did its kleptocratic elite rob the oil wealth that a best-selling book of that era was the three-volume Dictionary of Corruption in Venezuela. It chronicled the nation's surreal and mostly unpunished scandals, the kind of chronic, brazen theft that has left Latin America with the world's widest chasm between rich and poor.

Argentina fury at UK bid for Falkland seas

Argentina has reacted furiously to plans by Britain to lay claim to vast new tracts of potentially oil and gas-rich territories in the seas off the Falklands.

Bad Weather Triggers Oil Production Cut

About 46 percent of the Gulf of Mexico's daily oil production was still shut off Sunday even though a short-lived tropical depression that caused platform evacuations had long dissipated.

ConocoPhillips Reports Malfunction at Borger, Texas, Refinery

ConocoPhillips, the second- largest U.S. refiner, said a malfunction necessitated flaring yesterday at its plant in Borger, Texas.

The refinery burned off about 500 pounds (227 kilograms) of sulfur dioxide for one hour, ending at 4:38 p.m. local time, according to a company report on the Texas Commission on Environmental Quality Web site. The incident marks the sixth malfunction at the plant this month.

Terry Hunt, a ConocoPhillips spokeswoman, didn't immediately respond to messages seeking comment on the malfunction and its impact, if any, on production.

Internal Iraq oil pipeline cut by bomb

An internal pipeline carrying crude oil to a Baghdad refinery was ruptured in a bomb attack by insurgents, police said on Sunday, the second attack on a pipeline in Iraq in five days.

South Korea's October Gasoil Exports May Decline on Maintenance

South Korean refiners may reduce gasoil exports by 3 percent next month because of refinery maintenance at S-Oil Corp., officials at the companies said.

Gas prices drop about 2 cents last two weeks

The average price of regular gasoline on Friday was $2.79 a gallon, mid-grade was $2.91 and premium was $3.03, oil industry analyst Trilby Lundberg said.

Three die in North Sea accident

Three men, two Scots and a Pole, were killed in an accident aboard a North Sea gas rig supply vessel on Sunday, the boat's owners said.

Peak Oil and the Fall of Suburbia

I come at this with two premises:

● Any new dominant settlement system will, of course, emerge from an already existing pattern of settlement; and,

● Any new dominant settlement system will, of course, have to be able to grow into a dominant position within the context of the previous dominant system.

Sustainable society within reach, ecological designer says

If the summer's crop of drought and wildfire headlines threatened to send you sliding into a sweaty, globally warmed pit of despair, you'll find the words of David Orr inspiring, albeit in a tough-love kind of way. According to Orr, a pioneer in ecological design and Paul Sears Distinguished Professor and chair of the environmental studies program at Oberlin College, we already have the technology and know-how to create a world where every individual alive today can live a fulfilling, sustainable life. But only - and here's our kick in the pants - if we act immediately to reduce our consumption of fossil fuels.

Rising Seas Likely to Flood U.S. History

Ultimately, rising seas will likely swamp the first American settlement in Jamestown, Va., as well as the Florida launch pad that sent the first American into orbit, many climate scientists are predicting.

In about a century, some of the places that make America what it is may be slowly erased.

New study: Urban sprawl a factor in global warming

A new study says gas-guzzling SUVs and industry are not the only major factors in producing the greenhouse effect.

The Urban Land Use Institute, based in Washington and London, says urban residential sprawl is a big factor.

Colorado is a textbook example of the effects of such growth, says Michael Leccese, director of the institute. He told the Summit Daily that shifting 60 percent of new growth to more dense patterns could reduce carbon dioxide patterns by 85 million tons annually.

Scientists hopeful despite climate signs

NASA's James Hansen, who forecasts some of the bleakest outlooks on global warming, said in an e-mail: "I am always surprised when people get depressed rather than energized to do something. It's not too late to stabilize climate."