DrumBeat: September 12, 2006

[Update by Leanan on 09/12/06 at 9:27 AM EDT]

Canadian crude oil production dropped in 2005, while profits soared

CALGARY (CP) - Canada's oil production dropped in 2005 for the first in six years as conventional supplies wane, but that should change as oilsands operations continue their rapid ramp-up.

According to a Statistics Canada report released Monday, companies pumped out 858 million barrels of crude last year, down 2.3 per cent from the year before. One of the key reasons for this drop was a major fire at Suncor Energy, which cut production at Canada's second largest oilsands operation in half for three-quarters of the year.

"In general, this occurred mostly because of lower output from the conventional sector as well as unplanned interruptions in the non-conventional sector," the statistics agency said.

OPEC quota cut comes into view as prices fall


Report: Chevron may avoid $1B in payments

Incomplete lease agreements could allow oil giant to avoid paying royalties to federal government on new oil field.


BP gets 'first step' OK for bypass line


Clean technology key to French coal revival

PARIS (Reuters) - Surging demand for energy, coupled with high oil and gas prices have revived France's enthusiasm for coal but it may be short-lived without fast development of carbon capture and storage (CCS) technologies.


CNN 'In the Money' Drops Conspiracy Theory When Interviewing Oil Analyst


America's Significant Oil Find for the Coming Decade

...Finally, this discovery is doubtlessly a hard lesson learned for advocates of the 'Hubburt Peak' oil theory, who have been calling for years now to an end to the dependency on oil; the only reason is that the approaching end prompts dependence on alternative sources of energy.


Wind power ready to meet looming energy gap


Updating Prescriptions for Avoiding Worldwide Catastrophe - an interview with James Lovelock.


Mongolia seeks more profit from rich coal deposits


Finland offers experience in clean energy


Russia: Exxon cannot book new Sakhalin reserves. But Exxon is in denial.


Nigeria: President Obasanjo Says Ethanol Will Be Compulsory for Nigerian Fuel

President Olusegun Obasanjo has said the Administration would make the use of ethanol in fuel compulsory, like the cassava flour in wheat for bread.


Pesticide use worldwide touches 2 kg per hectare

The use of pesticides worldwide has risen dramatically from 0.49 kg per hectare in 1961 to 2 kg in 2004 and with this the export of pesticides has touched an all time high of $ 16 billions, the World Watch Insititute (WWI) has said.

The increase in the use of pesticides is attributed mainly to the rising use of herbicides on genetically modified crops in China, it said.


[Update by Leanan on 09/12/06 at 3:29 PM EDT]

Coming soon: Hydrogen-powered BMW

Luxury sedan will burn both hydrogen and gasoline. It will be provided to selected drivers.


Beware the oil trap

...be prepared to be surprised if the oil price goes down much further than seems possible.