DrumBeat: June 23, 2006
Posted by threadbot on June 23, 2006 - 9:15am
Topic: Miscellaneous
Iran to halt gasoline imports, impose rationing
TEHRAN (Reuters) - Iran will halt gasoline imports from September 23 and start rationing gasoline supplies to motorists because of budget constraints, Iranian Oil Minister Kazem Vaziri-Hamaneh said on Friday.Parliamentarians in the OPEC producer approved a budget for the year to March 2007 that cut the amount to be spent on gasoline imports to $2.5 billion from $4 billion.
This meant President Mahmoud Ahmadinejad's populist government, which draws its support from the poor, was faced with an unappetising choice of hiking petrol prices or rationing, both potential sources of social discontent.
Perhaps a diesel hybrid, fuel cell or industrial-sized popcorn popper

One thing is for certain, though, the next 10 years to 15 years will change what we drive more dramatically than anything we have experienced during the past 50 years of automotive history.Update [2006-6-23 9:36:19 by Leanan]: Ukraine Scrambling To Crisis Over Gas Supplies
MOSCOW — Ukraine is scurrying to form a government coalition and head off a gas crisis that could hit July 1, when its controversial supply deal with Russia expires.On the U.S. political front...Leaders of Orange Revolution factions announced Wednesday they had reached a last-minute coalition deal. But with just two days left to collect signatures before parliament must be dissolved, Turkmenistan announced it could cut off gas supplies.
3 Oil Firms May Alter Gulf Leases
Facing angry lawmakers from both political parties, executives from three major oil companies — Royal Dutch Shell, Chevron and ConocoPhillips — indicated on Wednesday that they might be willing to give up sizable taxpayer subsidies for drilling in the Gulf of Mexico.Maybe that Cape Cod windfarm will be built after all: Lawmakers reach compromise on wind farm.But one of the most active players in the gulf, the Kerr-McGee Corporation, showed no signs of compromise and told a House hearing that it was entitled to the subsidies — known as royalty relief — even if oil prices remained above $70 a barrel. And Exxon Mobil said it saw no reason for the subsidies to be changed.
World Cup, Al Gore, go "carbon neutral."
Speaking of carbon... A Torrent of Darkness
“THE AIR WAS SO THICK that I thought I was choking,” she said. “The pollution was just unbelievable. All the locals wore surgical masks, and so did almost everyone in our group. I would get back to the hotel room and I had black lines of soot all over my face. I would cough up black phlegm all evening. I grew up in Pittsburgh in the 1950s and 1960s and I never saw anything like it before.” The speaker was a close acquaintance who visited China about two months ago.
And you can see streaming video of T. Boone Pickens on The Charlie Rose Show here.
Lehman Brothers says Oil and gas firms' spending accelerating. They were expecting it to increase 14.7%; instead, it's 21.3%. Not including Aramco.
The Saudis say they have foiled another attack: Saudi forces shoot dead six al-Qaida men.
Update [2006-6-23 12:58:47 by Leanan]: EPA report concludes 'boutique' fuels not the culprit in high gas prices.
"Boutique" gasoline blends to help states meet clean air rules are not a factor in higher prices as President Bush has suggested, says a draft of a study ordered by the White House.It's not just gasoline: rising electricity rates are becoming an issue. In Maryland, the governor vetoed a utility relief plan. Consumers are facing a 72% rise in rates. In Pennsylvania, they are trying to deregulate without the price spikes Maryland is facing....Facing growing public outrage over soaring gasoline prices, Bush ordered the study on April 25 in a speech in which he attributed high gas prices in part to the growth of special fuels.




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