DrumBeat: October 19, 2006

Happy days are here again: Demand for gasoline surges as prices take a dive

WASHINGTON — Americans are celebrating plunging gasoline prices by hitting the roads.

After barely rising during the summer months, gasoline demand rose swiftly in September, the American Petroleum Institute said Wednesday.

Deliveries of gasoline to U.S. service stations, a proxy for demand, rose more than 4% in September from the same month a year ago. That number was boosted by the comparison with September 2005, when Hurricanes Katrina and Rita interrupted deliveries.

But even excluding the hurricane effects, gas demand likely was up approximately 2% in September, API economist Ron Planting says. That's about triple the average increase over the prior six months and the biggest gain since August 2005.

"Lower prices are encouraging people to get back out there and drive," says Stephen Brown, director of energy economics at the Federal Reserve Bank of Dallas.

Southeast Asia's Clean Air Conundrum

Burning of Indonesian forests is causing widespread pollution. But it's done to grow crops for environment-friendly -- and lucrative -- biofuels.


Statoil suspends production at second offshore platform

OSLO (AFP) - Norway's leading oil company Statoil has said it has halted operations at a second platform off the Norwegian coast due to adverse weather conditions in the region, resulting in a 140,000-barrel per day loss in production.


OPEC agrees one million barrell per day output cut

DOHA (AFP) - OPEC has agreed an oil output cut of one million barrels a day but has yet to decide whether it will be based on official quotas or actual production, Venezuelan Energy Minister Rafael Ramirez has said.


Chavez's fate may rest in OPEC's hands: Venezuelan president desperately seeks production cut to drive up crude oil prices.


China plays catch-up in energy game

HONG KONG - The recent announcement that China has begun filling the tanks at the first of four planned sites for strategic oil reserves comes as a reminder that the game is on for the world's energy resources. But China - a latecomer to the contest - has started at a considerable disadvantage.


Regime Change in Timor-Leste, the ousting of Mari Alkatiri

Alkatiri left so as to prevent a genuine crisis and massive loss of life. In the process, East Timor became the most recent casualty of Peak Oil geopolitics. The UN, as Alkatiri might have hoped it would, has provided ample proof.


Motley Fool reviews Twilight in the Desert


LUKOIL to Step Up on Crude

Russia’s oil giant, LUKOIL has presented development strategy that extends till 2016 and specifies the double growth in crude and gas equivalent. Of interest is that the gas output will account for a material portion of increase. The attitude of analysts is rather skeptical. They say exactly the gas section of strategy hasn’t been properly elaborated and LUKOIL chiefs just attempt to encourage capitalization growth before the management sells its stake in the company.


More nations clamor for nuclear energy


Vattenfall Proposes Global 100-Year Climate Stabilization Framework

Speaking in Stockholm today at “Pathways to Sustainable European Energy Systems,” the inaugural project conference of the Alliance for Global Sustainability, Vattenfall CEO Lars Josefsson proposed a worldwide, adaptive carbon reduction burden-sharing framework to be implemented over the next 100 years, as part of a path towards a low carbon emitting society.


Saudi Arabia, others invest in refining projects; Power sector reform in Nigeria, the real issues


Georgia questions delayed Azerbaijan gas

Azerbaijan will not be able to supply Georgia this year with the additional gas supplies that the Georgian government is seeking in order to forestall the possibility of an energy crisis. Some experts in Baku believe that Russia’s ongoing diplomatic row with Georgia is influencing Azerbaijani policy decisions.


In the grip of nuclear power


An Oil Habit America Cannot Break: Americans don't want to undertake the painful steps necessary to fix our energy woes.


West could see gas, oil boom over 20 years


How close is runaway climate change?


Germany Puts Global Warming Prevention Plan in Gear

German Environment Minister Sigmar Gabriel has warned of the unexpectedly fast pace of global warming and said the country needs to follow a unified plan to protect itself from increasing environment change.


Climate change blamed for legionnaires' disease surge


Making fire from ice: a new fuel for the 21st century

Beneath our seas, reserves of frozen methane hold more energy than all other fossil fuels put together. But can we get at them without causing environmental meltdown?


Renewable energy movers, shakers meet to plan future

As it has in the past, the conference — now in its fifth year — will include talk on wind power projects in Vermont and strategies to slow global warming as the world approaches "peak oil," that point from which petroleum production begins to drop.