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Iran Tankers Idle in Persian Gulf
Production; Extraction; ExplorationIran, OPEC’s second-largest crude producer, has at least three supertankers idling in the Persian Gulf, as oil prices decline five weeks before the group’s next meeting, vessel-tracking data show.

Posted by admin on Monday, February 08 @ 17:48:20 PST (102 reads)
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Chavez declares "electricity emergency" in Venezuela
Public Policy; Political and Legal NewsCARACAS (Reuters) - President Hugo Chavez inaugurated a folksy new radio talk-show on Monday by declaring an "electricity emergency" in oil-rich Venezuela.

Despite its huge crude reserves, the South American OPEC member relies on hydro-electricity for 70 percent of its power needs, and a drought has hit supply since late 2009.

Posted by Leanan on Monday, February 08 @ 17:33:31 PST (84 reads)
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It's Official: The Oil Export Crisis Has Arrived
Consumption; Demand; PricesLast March, my study of the effect of peak oil on U.S. imports had brought Mexico to the fore (“The Impending Oil Export Crisis”). As our #3 source of imports, the crashing of its supergiant Cantarell field had put the future of our oil supply into serious jeopardy.

The possibility that Mexico’s oil and gas exports to the U.S. could go to zero within seven years looked very real.

Posted by Leanan on Monday, February 08 @ 16:37:29 PST (251 reads)
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Urban growth, farm exports drive tropical deforestation
Enviromental Headlines; Climate Changevox_mundi writes "

Under December's Copenhagen Accord, rich countries are pledging some 10 billion dollars over the next three years to help poor countries tackle climate change.

A big but so far unspecified chunk of the cash will go on programmes to prevent loss of tropical forests, which is a major source of greenhouse gases "

Posted by Leanan on Monday, February 08 @ 16:14:46 PST (122 reads)
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Who Will Win The Race For Jobs In Renewable Energy?
Public Policy; Political and Legal NewsGraeme writes "

When it comes to renewable energy innovation and equipment manufacturing, China is challenging the West, and the outcome will decide where millions of jobs go in the future.

As The New York Times reported recently, "China vaulted past competitors in Denmark, Germany, Spain, and the United States last year to become the world's largest maker of wind turbines, and is poised to expand even further this year. China has also leapfrogged the West in the last two years to emerge as the world's largest manufacturer of solar panels. ... These efforts to dominate renewable energy technologies raise the prospect that the West may someday trade its dependence on oil from the Mideast for a reliance on solar panels, wind turbines, and other gear manufactured in China." "

Posted by Leanan on Monday, February 08 @ 16:11:50 PST (76 reads)
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New federal climate change agency forming
Public Policy; Political and Legal NewsGraeme writes "

The Obama administration is forming a new agency to study and report on the changing climate.

Also known as global warming, climate change has drawn widespread concern in recent years as temperatures around the world rise, threatening to harm crops, spread disease, increase sea levels, change storm and drought patterns and cause polar melting. "

Posted by Leanan on Monday, February 08 @ 16:09:13 PST (67 reads)
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Delusions of Finance: Where We are Headed
Business News; Market Researchprofgoose writes "

Back in October, I participated in the 2nd International Biophysical Economics Conference at SUNY-ESF in Syracuse, New York. Charlie Hall had written to me, inviting me to come and give a talk. Specifically, he wanted me to go back to my post from January 2008 called Peak Oil and the Financial Markets: A Forecast for 2008 and explain why my forecasts had turned out pretty close to correct, while many others widely missed the mark. The title he suggested for the talk was Delusions of Finance. "

Posted by Leanan on Monday, February 08 @ 16:05:46 PST (121 reads)
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Seven States of Energy Debt
Public Policy; Political and Legal News...I’ve identified seven large US states by four criteria that are sure to cause trouble for Washington’s political class at least for the next 3 years, through the 2012 elections. These are states with big populations, very high rates of unemployment, and which have already had to borrow big to pay unemployment claims. In addition, as a kind of Gregor.us kicker, I’ve thrown in a fourth criteria to identify those states that are large net importers of energy. Because the step change to higher energy prices played, and continues to play, such a large role in the developed world’s financial crisis it’s instructive to identify those US states that will struggle for years against the rising tide of higher energy costs.
Posted by Leanan on Monday, February 08 @ 08:16:18 PST (360 reads)
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Kunstler: We're Weimar
Public Policy; Political and Legal NewsFuture historians who try to chart the unraveling of the USA's political tapestry might point to two events of the past week. The obvious first one was the Tea Party convention at Nashville. It was held not accidentally at the ridiculous Opryland Hotel and resort in the city's outer suburban asteroid belt, right next to the circumferential freeway, and next door to the defunct (1997) Opryland USA theme park, an attraction based on the cute idea that Tennessee rubes were too dumb to spell the word opera -- so the symbolism was perfect.
Posted by Leanan on Monday, February 08 @ 06:53:07 PST (582 reads)
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Matt Simmons - At Risk: The Sustainability Of Oil And Gas
Business News; Market ResearchPresentation given at the AON Annual Energy Insurance Symposium

■ Prime lesson to be learned from our 2009 financial meltdown, is risk through lack of transparency.

■ We now live in an energy world of obtuse data.

■ We have no third-party audits for 90%+ of world’s proven oil and gas reserves.

■ We have no data on 90% of most important oil and gas fields.

Posted by Leanan on Monday, February 08 @ 06:01:20 PST (437 reads)
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Rosneft retained world's biggest reserves in 2009
Geology; Reserves; Oil FieldsRosneft kept its grip firmly on the top spot among world's publicly traded oil companies as it reported on Monday a 2.5 percent rise in hydrocarbon reserves for 2009 under PRMS rules.

The state-controlled firm has been a chief driver behind Russia's recent surge in oil output, which last month remained above 10 million barrels per day, mainly thanks to Rosneft's huge newly commissioned Arctic Vankor field.

Posted by waegari on Monday, February 08 @ 05:19:14 PST (125 reads)
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China's CNOOC emerges from shadows, eyes big deal
Business News; Market Research China National Offshore Oil Corp's likely acquisition of oil field assets in Africa should silence critics concerned that the country's top offshore oil producer has been sitting on too much cash for too long.

CNOOC has been a noticeable absentee from overseas M&A since it paid $2.7 billion for a stake in French oil major Total's African Akpo field in 2006. A year earlier, it was bumped by a U.S. political backlash from buying U.S.-based oil company Unocal.

Posted by waegari on Monday, February 08 @ 05:15:19 PST (103 reads)
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Does peak demand = peak supply?
Consumption; Demand; PricesLast week’s post about Tony Hayward’s comments on ‘peak demand’ attracted some good comments. Here’s our response as a post - since it got rather long:

Firstly, audio of the Hayward interview is now online here. There are some other interesting comments that weren’t picked up in the print reports, including the world’s ability - and particularly China and India’s - to handle high oil prices.

Posted by Leanan on Monday, February 08 @ 04:55:14 PST (370 reads)
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Bright future for biodiesel in Indonesia
Hydrocarbon AlternativesAs Indonesia is today the world’s largest producer of crude palm oil (CPO) — a desirable feedstock for biodiesel production — it has the potential to grow into a world biodiesel leader and a model for plantation sustainability.

Biodiesel has the potential to become a significant industry sector in Indonesia, supported by two of its most valuable assets: its oil palm plantations, and more importantly, its people. Indonesia currently produces approximately 20 million tons of CPO per year from 7 million hectares of oil palm plantation, of which approximately 80 percent is exported.

Posted by waegari on Monday, February 08 @ 00:37:45 PST (271 reads)
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Addressing the food versus fuel debate in Ghana
Hydrocarbon AlternativesConcerns over energy supply security and oil-price volatility are generating greater interest in alternative energy sources in Ghana. Civil society groups want a comprehensive biofuel policy. Godwin NNANNA in Accra writes that so far the policy has been slow in coming

The lines between energy and agriculture are becoming more blurred. As science advances, the use of biofuels in most parts of the world has continued to increase. One thing that has gradually come to stay and is in recently times attracting significant foreign investment in Ghana is energy crops. The last four years has seen Norwegian, Brazilian, Dutch, Swedish, German and British firms all competing for farmland to grow energy crops in different parts of the country.

Posted by waegari on Monday, February 08 @ 00:35:31 PST (238 reads)
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Old Articles
Monday, February 08
· Argentinian Oil Production Continues to Fall
· In Utah, Company Aims to Store Energy in Air
Sunday, February 07
· NIF Moves 5.9 Million Degrees Closer To Fusion Power
· China plans more LNG imports
· BP faces investor revolt over Canadian oil sands project
· N.Z. Refining’s Full-Year Margin Lowest in Six Years
· Kurt Cobb: Characterizing the incalculable
· Rob Hopkins: Getting over oil, one town at a time
· 2 Dead, 250 Hurt in Conn. Explosion
· Electric Cars Powered Up for Test Drive in Israel
· Saudi Arabia opens to outsiders as it looks to the future
· 'Massive glut' blamed for holding back oil prices
· Branson warns that oil crunch is coming within five years
· Why Natural Gas Vehicles Won't Decrease Oil Dependence
· Lack of Australian nuclear plant almost immoral: Peter Cosgrove
· Defusing the Methane Greenhouse Time Bomb
· Nigerian militants say disabled Shell oil pipeline
· Earth, wind and wire: Going beyond solar panels
· Start preparing for oil at $200 a barrel
· Iraq plans to become OPEC's top oil producer

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