OPEC cuts 2006 oil demand growth forecast

World oil demand will rise more slowly than previously expected in 2006, partly because of record high prices, the Organization of the Petroleum Exporting Countries said on Wednesday.

Militants release four hostages in Bayelsa. The oil company who employed the kidnapped workers agreed to address some of the militants' concerns.

Meanwhile, Nigeria promises kidnap crackdown

Nigeria's President Olusegun Obasanjo has promised to act against those suspected of involvement in a string of kidnappings in the Niger Delta region.

He said he had ordered 24-hour patrols in the Delta's creeks and swamps, and threatened action against oil firms who paid ransoms for their workers.

Iraq and Jordan sign oil deal

BAGHDAD (AFP) - Iraq has struck a deal to supply neighbouring Jordan with cheap oil by laying a new pipeline across the desert between them, the countries' prime ministers have announced.

Oil, water, weather crises will hit cities

Municipalities are facing a "perfect storm" once the era of cheap oil, cheap water and altered weather patterns hits with full force, says Ontario's environmental commissioner.

In a chilling speech to municipal leaders yesterday, Gord Miller said municipalities are not ready for the massive effect on communities.

"We are entering a period of consequences," said Miller. "Our present public policy is inadequate to deal with these immense problems that are upon us right now."

Peak Oil and Relocalization in Ohio

Global warming affects hurricane intensity: study

Global warming is affecting the intensity of Atlantic hurricanes, according to a new study by a university professor in Florida who says his research provides the first direct link between climate change and storm strength.

[Update by Leanan on 08/16/06 at 9:43 AM EDT]

More protests over power outages in Bangladesh. Bangladesh has been struggling with energy shortages for awhile now. According to the article, the suburbs are the hardest hit.

Sharp rise in oil-cash investments forecast

The recycling of surplus petrodollars through the global financial system is set to intensify, with Saudi Arabia and the five other members of the Gulf Co-operation Council exporting at least $450bn of capital over the course of this year and next, the Institute of International Finance predicted on Tuesday.

Demand destruction in Scotland:

SCOTLAND'S love affair with the motor car is waning, with Scots increasingly leaving their vehicle in the garage and taking public transport or walking instead, new statistics have revealed.

...Experts said huge rises in fuel costs, increasing congestion on the roads, coupled with increasing investment in public transport and growing awareness of the environment was behind the change.

Shareholders sue BP over Prudhoe Bay

Namibia: Fuel Hike Boosts Agrigultural Production Costs

Wall Street's New Love Affair: Why some of the world's smartest investors are betting billions on clean energy.

Forecast puts Earth's future under a cloud: 3C increase would bring fires, floods and famine.

Australia: Brace yourselves, warns Costello

INVESTORS and home owners have received a rare, dire warning from the Treasurer to brace for the economic fallout from "world record oil prices".

Western Cape now hit by gas shortage. It's affecting tourism and manufacturing.