The Best Things in Life Are (Almost) Free

As John Lennon sang in the 1964 Beatles cover of “Money (That’s What I Want),” some of the best things in life are free. For producers of heavy oil, gravity is the very best freebie of all. And the earth’s pull is helping to reshape the peak oil concept into a broad oil plateau that will last for many years to come.

New database shows big warming emitters

There's growing worry about global warming, but how much of it is the work of that power plant just outside town? And if Congress limits heat-trapping greenhouse gases, will it affect utility and electric bills? And who's the biggest corporate culprit when it comes to climate change?

Answers to these questions may be only a couple of computer clicks away.

Cost of oil felt beyond pump

Nationwide fuel costs surged again in the last week, the Energy Department said Tuesday, pushing prices higher than they've ever been at this time of year.

Analysts warn that gasoline prices soon will rise by as much as 20 cents a gallon -- which would put California's average at nearly $3.50. And it's not just gasoline. High oil costs are trickling through the economy, pushing up the price of food, airline flights and cruises as well as retail prices for a host of products derived from crude oil and its byproducts.

Shell Mars oil field restarting, Ursa still down

Royal Dutch Shell Plc said Wednesday its Mars platform in the U.S. Gulf of Mexico was still raising output back to normal levels of 190,000 barrels of oil equivalent per day after completing scheduled work.

The nearby Ursa field, which supplies the Mars crude oil stream, remained shut after planned maintenance was extended by several days, Shell said.

Frozen Karabakh war could flare again

A 20-year-old conflict between ex-Soviet neighbours Armenia and Azerbaijan could re-ignite into a war that would threaten the region's oil exports, an influential think-tank said on Wednesday.

Wolves and bears circle energy security

Energy security cuts both ways, we are told. It is not only the gas-guzzling American motorist who needs comforting, but also the bloated petrocrats of the Gulf. At the Opec summit meeting in Riyadh this weekend, the talk will not be of supply insecurity, but of demand collapse. Even as truckers threaten mass meetings in Britain to protest about the price of diesel, the risk is seen on the downside from the perspective of the producers. Algerians attending the Rome World Energy Congress this week were less than impressed by the screeching about $100-a-barrel oil and shortages.

Ecuador: Oil and Militarized Corporate Terrorism

When international companies perform jobs for the oil industry in Latin America, mercenaries and armed forces are often needed for protection. The oil companies use the military systematically to suppress popular resistance. This applies particularly to criminal oil exploitation conducted without legal permits, as is often the case for Swedish construction company Skanska, in such areas as nature reserves and indigenous territories.

Toxic optimists vs. plaid shirts

Sundalow thinks all of our problems will be magically resolved by plug-in hybrids. Somehow he manages to convince himself that this not only removes the need for oil (of course, with present driving patterns it doesn't) but that somehow it will solve our electricity problems as well.

Climate change to take just years

AUSTRALIANS will begin to see the stark effects of climate change within the next few years, not the next decades, a leading Australian scientist has warned.

Graeme Pearman, the former head of CSIRO's atmospheric research unit, yesterday released a report showing that evidence of global warming has dramatically increased in the past 12 months.

Arctic Ocean Circulation Does an About-Face

A team of NASA and university scientists has detected an ongoing reversal in Arctic Ocean circulation triggered by atmospheric circulation changes that vary on decade-long time scales. The results suggest not all the large changes seen in Arctic climate in recent years are a result of long-term trends associated with global warming.

Q&A: Author explores oil's impact on society

Tom Mast, whose experience in the engineering and manufacturing fields included involvement in the oil industry, published the book "Over a Barrel: A Simple Guide to the Oil Shortage." The Austin, Texas, resident's book includes a history of how oil came to be so vital to transportation and takes a look at some oil alternatives and their environmental, social and technological impacts. The book is intended to be read by an adult in less than two hours. Mast recently answered several questions about the book and its topic for The Times.

China makes unusual gasoline import for November

China, one of Asia's biggest gasoline exporters, made an unusual November import after buying record-high volumes for September, traders said on Wednesday.

They said state-run Sinopec Corp bought a 30,000-tonne cargo of 93-octane gasoline. The identity of the seller and the price of the cargo were not immediately available.

Fire breaks out on damaged Mexican oil rig

Pemex said on Tuesday that four fire-fighting boats were at the scene trying to put out the blaze.

"When the fire is out, work to control the leak will resume," Pemex said in a statement.

U.S. Economy: Recession, Depression, Or Collapse?

“For Consumers, the Hits Keep Coming” a recent banner headline in a New York Times-owned daily newspaper here in Northern California reports. The article misses the main points. If we continue to understand ourselves as primarily passive consumers, rather than as active citizens, the US economy will enter at least a recession, probably a depression, and possibly a collapse. Even our republic is at risk.

Inflation And Economic Growth: A Tricky Call

Simmons dismisses Tupi, the recent major Brazilian offshore oil discovery as ‘important but just a dent’ in the problem. The deep water field has only drilled two wells, is extremely complex, and might not even be commercial. Even if it is, it will take 5-10 years says Simmons.

And don’t expect production shortfalls to be covered by Saudi Arabia this time he adds. Saudi has no excess capacity. It has no more spare oil and is not able to increase production in a meaningful way. Demand for oil is growing far faster than anyone thought.

Who's Zoomin' Who?

In my view, with the evidence for Global Peak Oil growing with each passing month, the odds are very high that Crude Oil is already in a Cycle Degree Wave Three advance. Assuming Wave Three equals the height of Wave One, we are staring down the barrel of $200 Crude Oil over the next two years -- Con Te Partiro to the SUV.

Greg Zanetti’s weekly market report

Well, despite more rigs pumping oil, Exxon’s production is actually down two percent since 2006. And here is the key point: According to a recent study, of the 21 Exploration and Production companies in the US, the average proven booked reserves per well is in serial decline.

Translation: We are adding more rigs, but we are getting less oil for the effort.

In a Modernizing Mexico, Blasts Reveal Shadowy Side

The EPR has not attacked the country's oil supplies, but the possibility worries the government. Mexico is the world's sixth-biggest oil producer and a major supplier for the U.S. In Nigeria, armed groups who want more control over oil resources have used sabotage to cut the country's oil output by one-fifth.

Military's Oil Needs Not Deterred by Price Spike

All the U.S. tanks, planes and ships guzzle 340,000 barrels of oil a day, making the American military the single-largest purchaser and consumer of oil in the world.

Diesel Fuel Shortage Continues

The diesel fuel shortage continues in North Dakota. Suppliers are having to be brought in from distance terminals and sometimes truckers have to wait days at a terminal for their load.

West Virginia congressional delegation split on tapping oil bank

"(We are) asking that while oil and gas prices are so high, we can at least stop filling (the reserve), that it might hold prices down a little bit," Capito said Tuesday. "We can at least suspend shipments for a little while, or if we release some from the reserve that might be a possible solution right now."

Running on empty: Truckers cope with high cost of diesel

If you think the recent run-up in gas prices is wreaking havoc with your budget, just imagine what it would take if your tank held 100 gallons and had to be filled every day.

EU 'sleepwalking' into gas crisis, Eni CEO says

Europe has to build good relationships with Russia because of the continent's "staggering" dependence on Russian natural gas exports, Italy's top energy executive said yesterday.

Paolo Scaroni, CEO of Eni SpA, the world's sixth-largest oil company, raised the spectre of a gas-induced energy crisis unless European governments and energy companies "create strong and stable relationships with our suppliers," notably Russia and, to a lesser extent, Algeria.

UK: Drivers demand fuel price regulator

Scots lorry drivers have called for the UK Government to appoint a fuel price regulator to keep petrol prices down.

Nepal: Fuel shortage hits again

Following a brief respite after the hike in their prices, the scarcity of fuel has once again hit the consumers as demands are fast outstripping the supply.

India: Govt rules out duty cut on edible oil

The government on Tuesday ruled out any plan to reduce import duty on edible oils such as soyabean oil and palm oil.

“There is no such proposal,” agriculture and food minister Sharad Pawar told reporters at the Economic Editors’ Conference here. The Centre in July had reduced the import duty on crude palm oil to 45% from 50% and on crude soyabean oil to 40% from 45%.

China: Energy profile

The People's Republic of China (China) is the world's most populous country and the second largest energy consumer behind the United States. Rising oil demand and imports have made China a significant factor in world oil markets.

Bountiful Brazil Should Shun OPEC

As oil neared $100 a barrel, Brazil found a new offshore field so big it could turn the country into a global exporter. That's good not only for Brazil, but for all of us. So why would Brazil wreck it by joining OPEC?

...The discovery gives petrotyrants who've brought us sky-high crude some competition in the form of a big, friendly country with a rapidly modernizing democracy, a growing middle class and a diversified economy. Hopefully, Brazil will become a serious energy exporter in the same league as Nigeria and Venezuela.

Global Peak Oil and Dollar

Lately, we have been witnessing fluctuations of dollar and oil. This has led us to question the link between the dollar and oil and also whether this link still serves to the interests of the United States (US).

Smoking can be bad for your wealth

These are nervous times, too, on world oil markets, so there was great anticipation at the World Energy Congress jamboree in Rome over a rare speech by Saudi Aramco’s president and chief executive Abdallah Jum’ah on global oil resources and the world’s energy future. What reassurance could the world’s biggest oil producer provide a rapt audience? Jum’ah spoke about Canadian tar sands, Venezuelan heavy oil, the potential for oil shale, coal-to-liquids technology and biofuels. Every fuel resource on the planet was dissected, except Saudi oil. Indeed, Saudi Arabia was never mentioned, in an hour-long speech. But he did say that the world had no need to worry about running out of oil. So that’s all right, then.

How to play the oil boom

With crude setting records, Fortune's Jon Birger says now's the time to take your profits and sell Big Oil stocks.

Be honest about market for small cars

Consumers may say they support tougher fuel economy standards, but they are buying SUVs and other large vehicles. Policymakers ought to pay more attention to actual vehicle sales than to polls as they consider regulations to impose on the auto industry.

Taking a Whack at Making a Car

A generation of digital-era Henry Fords, unabashed and brimming with confidence, has emerged. Born of Silicon Valley and the dot-com culture, they are trying to apply to carmaking the same entrepreneurial spirit that built the information superhighway.

Climate injustice: The rich are hiding behind the poor

In India, 150 million people who belong to the upper-income groups already emit more than 2.5 tonnes of CO2 per annum. A new Greenpeace report states that India’s rich consuming class is hiding its significant carbon footprint behind legions of poor. Shouldn’t the government, which demands differentiated responsibility in the international arena, establish the same within India?

Prospectors claim stretches of ocean, hoping to harness wave energy

A new California "gold rush" is on - to stake out claims to prime stretches of ocean along the coast where prospectors hope to harness waves to produce energy.

No one's succeeded in producing wave power commercially in the United States, but the lure of future feasibility as a clean source of energy is spurring potential developers to claim prime wave sites.

In Farm Belt, Ethanol Plants Hit Resistance

SPARTA, Wis. — When plans were announced for a new ethanol distillery on the outskirts of this city of 9,000, residents complained that it would mar the view from the municipal golf course. They worried that its emissions would taint the milk-based products made at nearby Century Foods International, one of the community’s biggest employers. They even argued over whether the plant would reek like burned molasses or blackened popcorn or fermenting beer.

The T-shirts opponents printed up told the story: “Good idea. Bad location.”

A Solution to the Global Energy Crisis? - A Noted Scientist Says It's the Sun

There is a potential solution, and possibly only one, to the global energy crisis. It will require a huge investment, several scientific breakthroughs and a little luck. But unless we give it the very highest priority, it will soon be too late.

The biofuel scam - and it's a 'beaut'

When it comes to navigating a way out of the nation's energy crisis, you have to wonder whether the fix is already in.

The government has picked the winner--even as senior policy makers issue bland pronouncements about finding new technologies to help break our energy dependence on foreign oil. Between now and 2012, biofuel subsidies will total more than $92 billion, according to a recent report conducted under the auspices of the Global Subsidiaries Initiative.

Bill McKibben: A durable future

We’re in dire straits. James Hansen, the nation’s foremost government climatologist who works with NASA, said recently we probably have 10 years in which to begin serious efforts at putting less carbon dioxide and other greenhouse gases into our atmosphere. That means gearing up now to make the most ambitious changes we’ve ever had to make in our economy, and in our personal habits. It’s going to be difficult; much of the world is using more fossil fuel all the time. It’s a test for human beings, and hopefully not a final exam.

For the first time in human history “more” is no longer synonymous with “better.”

A recent sampling of Forbes magazine’s “richest Americans” showed they have identical happiness scores with Pennsylvania Amish, and are only a whisker above Swedes taken as a whole, not to mention the Masai hunters in Africa.

As we got more affluent, we lost a lot of our social connections and communities. We moved to the suburbs, built big houses and filled them with screens to stare into. It’s no wonder the average American has half as many close friends as 50 years ago.

Voter Anger May Free Up Energy Bills

Congress saw it coming. Earlier this year, lawmakers warned of an impending energy crisis as they debated wide-ranging legislation to improve automotive efficiency, reward energy conservation and spur development of alternative power sources.

When the Senate passed an energy bill in June, crude oil was trading near $65 a barrel, the highest price in a quarter-century. When the House acted six weeks later on markedly different legislation, oil had passed $70.

Then nothing happened. Oil prices continued to climb while members of Congress bickered among themselves and sniped at the White House.

Economic and planetary collapse: Is it a therapeutic issue?

I have spoken elsewhere about the label “Doomer,” and I’ve come to believe that this frame is outdated. Instead, I would like to suggest that we must stop asking ourselves, given the lateness of the hour, why there are those pessimistic about the future, and begin asking, instead, why there are those still blindly and enthusiastically optimistic about it. We can easily see why those who might be gloomy about the future could feel hopeless and take the path of inactivity. On the other hand, this same fear of disaster can motivate constructive action in an attempt to mitigate the effects. Not so, however, for those who see no NEED to take action, because they live in the best of all possible worlds. Indeed, I might argue that it is the very blind hopefulness and inaction of the masses that leads many of my readers to assume a more hopeless posture toward world events.

Peak Oil Doomsday: Ahead Of Schedule

When we try to predict the effects of oil decline, we may assume that human "die-off" will follow a gradual but steady curve from about the year 2000 or 2010 to about 2030, which will then flatten out toward about 2050. But such events will probably happen much more quickly than that, because there is a "synergistic" effect due to the fact that the two forces of oil depletion and human population are now heading in opposite directions.

Warnings of Long-Term Damage After Russian Oil Spill

“The environmental system of the region has sustained serious damage,” said Aleksey Zimenko, a conservationist with the World Wide Fund for Nature, according to Interfax. “The consequences will persist for many years to come.”

CLIMATE CHANGE: The Worst Can Still Be Avoided

Climate change is not inexorable, if measures are adopted immediately, said scientists and government officials as the 27th session of the Intergovernmental Panel on Climate Change (IPCC) began Monday in Spain.

Spain shown perils of climate change

It's an apocalyptic view of the future, a stark warning to Spain of what the country could look like if action is not taken to reduce the effects of climate change.

The warning comes in a book, Photoclima, launched this week by Greenpeace in which images of some of Spain's most emblematic places have been altered to show what they could look like in the future. Using statistics from the UN panel on climate change and a touch of digital makeup Greenpeace hopes to scare Spain into taking action.

The road to enlightenment

It is now known that 70% of cuts in emissions will need to be made at local level. Have councils woken up to the challenges ahead?

North Dakota Diesel Shortages (with video)

It wasn`t there when they needed it the most. Thousands of gallons of diesel fuel is purchased during the fall for farmers to finish their harvest, but suppliers have been in short supply recently.

Al Medler is selling off-road diesel fuel for $3.20 today. Obviously everyone wants to pay less but since we rely so heavily on fuel, big problems arise when we can`t get it.

...Medler works for Magic City Oil which is a small distributor in the Minot area. He gets fuel from two different fuel distributors and they get it from the refinery. He first started seeing problems around Labor Day. It got so bad that he couldn`t get any gasoline. He had to get a truckload hauled in from Barnesville, Minnesota. The issues then switched to diesel during the busy harvest season. Medler was able to fulfill all of his customers requests, but it wasn`t easy.

OPEC chief denies China behind oil price hike

OPEC Secretary General Abdallah al- Badri denied on Wednesday claims that China and India stood behind the rise in the international oil prices.

In an exclusive statement to Xinhua, al-Badri rejected the allegations which hold China and India responsible for the soaring oil prices, adding that the consumption of the two countries is normal and just in line with their demands.

Two Oil Policies Ahead For The OPEC Summit In Riyadh

The whole world will be focused on the Saudi capital on Saturday and Sunday where the Servant of the Two Holy Shrines, King Abdullah bin Abdul Aziz will host the third OPEC summit. The event is of great significance because it comes at a time when the oil price is approaching the unprecedented $100 per barrel mark. While OPEC will not take any decisions to modify the productivity level or discuss prices during the summit as the Saudi Oil Minister, Ali Naimi pointed out yesterday, the eyes of the whole world will be following the event because of the global impact of the rising oil prices.

China bites the fuel price bullet

Amid long lines and a national fuel shortage at gas stations, the Chinese government announced at the end of October that it would raise gasoline and diesel prices by about 10%. It was the first green light Beijing has given for a national fuel price hike in 17 months despite sharp increases in international oil prices during the same period.

Shell restructures its Nigerian operations in order to cut costs

Managing director Basil Omiyi said apart from the support services that would be shared among the three subsidiaries, there would be one umbrella organisation for production, development and projects.

"We are operating in an extremely difficult enviornment where levels of production have been severely curtailed by the security situation for some time," he said.

"Under these circumstances, we must take action in order to reduce costs, increase efficiencies and maintain a robust upstream business in the interests of both Shell, our partners and Nigeria in general," he added.

Nigeria denies Bakassi attack

Nigerian government has denied responsibility for Tuesday's bloody attack on Cameroonian soldiers in the oil-rich Bakassi peninsula. The ambush left at least 31 people dead [21 Cameroonian soldiers and 10 attackers].

Though the attackers wore Nigerian military attire, Nigeria said the ambush might have been carried out by militants of the oil-rich Niger Delta. The militants had earlier attacked international oil interests in southern Nigerian close to Bakassi.

Another Consequence of High Priced Oil: Large Sums of U.S. Assets Purchase by Arab Gulf States Flush With Petroleum Dollars

This recent acquisitions of ownership in U.S. and European entities by private and state-owned Middle Eastern entities are just part of the flood of oil wealth spilling from the region. Middle Eastern investments in the United States have been on the rise since mid 2006 and have been showing constant gains since the tense period following September 11, 2001. While some of these takeovers are triggering alarm, most famously the purchase by Dubai Ports World of a seaports management firm, others are evoking warm welcomes.

Target Practice; where should we aim to prevent dangerous climate change (PDF)

How hot is too hot? It’s a simple question that seems too hot to handle. Neither of Australia’s major political currents – Labor or the Coalition – have ever said what temperature increase should not be exceeded if we are to avoid what it is termed “dangerous climate change”, even though it should be the first step on the ladder in constructing a global warming policy.

Perhaps the problem is that it requires a definition or an exposition of what “dangerous climate change” is, and that means getting specific about what is acceptable and what is not. How many species or ecosystems can be lost before it constitutes a danger? How far do the seas levels need to rise before they become dangerous? Is triggering the disintegration of the Greenland ice sheet dangerous?

OPEC says no need for oil output hike

OPEC secretary general Abdallah al-Badri said on Wednesday that there is no need for the oil cartel to increase production now because there is plenty of oil in the market.

"At this time, frankly we don't see that we need to add more oil in the market," Badri told a press conference in Riyadh ahead of a weekend OPEC summit.

Saudi Arabia to reduce diesel exports next year

Saudi Aramco will cut gas oil (diesel) exports to 880,000 tonnes next year from 2.2 million tonnes in 2007, and will not renew any of its annual term deals, as domestic demand grows swiftly, industry sources said yesterday.

Saudi minister would welcome Canada into OPEC

Ali Al-Naimi, the Saudi oil minister, said Tuesday: "If Canada decides on its own to join OPEC, what would we say? Of course it would be welcome."

Although it has been rejected out of hand by federal officials, the prospect of Canada joining the cartel is not as outrageous as it seems. At an OPEC summit underway in Saudi Arabia, OPEC will re-welcome Ecuador to it after it withdrew in 1992, and Brazil is considering entry after a massive seven-billion barrel discovery last week.

Oil prices only going up, analysts warn

Shell International BV analysts Choo Khong and Peter Snowdon forecast here Tuesday that international oil prices would go nowhere but upwards, and that fossil fuels -- oil, natural gas and coal -- would continue to dominate the energy mix until 2025.

"What matters is not the actual number, whether it is US$100 or something else, but the direction of oil prices, which is firmly upwards with some volatility," noted Choo when presenting Shell Global Scenarios to 2025.

What resource wars?

Classic resource wars are good material for Hollywood screenwriters. They rarely occur in the real world. To be sure, resource money can magnify and prolong some conflicts, but the root causes of those hostilities usually lie elsewhere. Fixing them requires focusing on the underlying institutions that govern how resources are used and largely determine whether stress explodes into violence. When conflicts do arise, the weak link isn't a dearth in resources but a dearth in governance.

Ultra-deep offshore find challenges 'peak' theorists pushing ethanol

The discovery challenges "peak oil" theorists who contend the Earth's supply of oil is running out.

WND previously reported the geological description of the Campos Basin suggests that the rock formations in which the oil is being found are in Upper Oligocene to Lower Miocene deposits; in other words, deposits from the Cenozoic Era dating back only some 24,000 years.

Many scientists believe dinosaurs dominated in the Mesozoic era stretching back 250 million years ago and ending some 65 million years ago, which would contradict the theory that dead dinosaurs or decaying ancient forests formed the oil off Brazil's soil.

Metro Vancouver asks public to help plan for growth

But driving long distances for work and play on a daily basis is no longer a viable lifestyle.

"Climate change is the gun to our heads," said Price. "And I guess you could say that peak oil is too."

Gore has a new ally against global warming

The former vice president joins a Silicon Valley venture capital firm, where he will focus on building 'green' businesses and technologies.

Greenpeace protesters block coal shipment at Spanish port

Militants from the environmental group Greenpeace on Wednesday blocked a shipment of coal at a port in northeastern Spain in a protest over climate change.

"Coal destroys the climate," the protesters painted on the ship in the Mediterranean port of Tarragona.

UN panel in 'difficult' debate over global warming paper

UN climate experts wrangled here Tuesday over a landmark document on global warming amid criticism that the draft report was bland and some of its findings out of date.

One negotiator described the talks among the Nobel-winning Intergovernmental Panel on Climate Change (IPCC) as "difficult".

Saudi Arabia seeks positive role in tackling climate change

Saudi Arabia insisted yesterday that it wanted to play a positive role in tackling global warming but this should be done with new technology, not "discriminatory" taxes against oil and petroleum.

Ali al-Naimi, the Saudi oil minister, said his country had signed up to the Kyoto protocol and was as interested as any other in tackling climate change but the world had to accept it would be dependent for decades on fossil fuels. Talk of peak oil and supply problems was the result of "confused" thinking by so-called oil experts and financial speculators who had driven crude to highs of nearly $100 a barrel unnecessarily, he said.

Aussies warned about higher energy bills

Australians should prepare to pay more for petrol and electricity as part of a policy response to climate change, new research says.

Under policies to fight climate change, consumers will suffer higher costs for goods and services that depend on cheap energy, says Melbourne University professor of economics John Freebairn in a collection of research for the Committee for Economic Development of Australia (CEDA).