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Business

Space May Be Next Frontier for Earth’s Crude Oil Giants

The Middle East has an outsize impact on energy here on Earth. One analyst thinks some regional powerhouses may leverage that role into the development of natural resources in space. Countries like the United Arab Emirates and Saudi Arabia are developing space programs and investing in nascent private space commodity initiatives, said Tom James, a partner at energy consultant Navitas Resources. Doing so could give them a foothold in building extraterrestrial reserves of water -- a substance likely to fuel travel within space -- and other resources that could be used for in-space manufacturing. “Water is the new oil of space,” James said in Singapore. “Middle East investment in space is growing as it works to shift from an oil-based to a knowledge-based economy.” Prospecting satellites can be built for tens of millions of U.S. dollars each and an asteroid-harvesting spacecraft could cost ...

Business

Who wants to be rich like a sheikh?

Long before the Russians blinded English society with their conspicuous wealth, it was the Arabs descending on Europe’s capitals in the 1970s who became proverbial for their prodigious wealth: “Rich like an oil sheikh,” said the gawping crowds as they watched the princes in their floating garments checking into the most luxurious hotels, showering bell boys and porters with hundred dollar bills. Now we all, big and small, could become one of them: the Kingdom of Saudi Arabia is preparing the stock market debut of Aramco, the State oil company at the root of their riches. Selling a mere five per cent of Aramco’s shares at an estimated price of $100 billion, the State-owned oil company will be worth more than $2 trillion, making it with one stroke the most valuable company in the world. (Don’t ask me how bankers could ...

“Everybody Would Die” if World War 3 Broke Out thumbnail

“Everybody Would Die” if World War 3 Broke Out

A top nuclear expert has warned that virtually everybody in the world would die if World War 3 broke out as a result of a confrontation between the United States and Russia. Greg Mello, secretary and executive director of the Los Alamos Study Group, was asked how many people would die on the first day of a nuclear war. “Everybody in the world would die. Some people in the southern hemisphere might survive, but probably not even them, he responded. Noting that the whole system was “very fragile,” Mello said that, “Even a couple of nuclear weapons could end the United States as a government and an economy,” destroying the financial markets and the Internet. Even if nuclear exchanges were limited, with just ICBM silos and airfields being targeted, the fallout would wipe out the entire U.S. Midwest, including big cities like Chicago, according ...

France’s Macron appears set for runoff with Le Pen thumbnail

France’s Macron appears set for runoff with Le Pen

Centrist Emmanuel Macron and far-right leader Marine Le Pen are set to face each other in a May 7 runoff for the French presidency after coming first and second in Sunday's first round of voting, according to multiple projections. Though Macron, 39, is a comparative political novice who has never held elected office, opinion polls in the run-up to the ballot have consistently seen him easily winning the final clash against the 48-year-old Le Pen. Sunday's outcome spells disaster for the two mainstream groupings that have dominated French politics for 60 years, and also reduces the prospect of an anti-establishment shock on the scale of Britain's vote last June to quit the EU and the election of Donald Trump as U.S. president. The euro currency was quoted higher immediately after the first projections were issued, with banks quoting around $1.092 versus $1.072 on ...

Consumption

Alternative Fuels Seek to Keep the Party Going

With Earth Day as a backdrop, alternative fuel advocates, including natural gas vehicle (NGV) proponents, put on their party hats and marked a variety of milestones in the clean fuel sector, starting with the metropolitan transit authority in San Antonio, TX. VIA Metropolitan Transit on Thursday rolled out the first of more than 400 new compressed natural gas (CNG) buses, kicking off what the transit officials called a "historic conversion" of the agency's fleet as a "salute to Earth Day," which is Saturday (April 22). Annual fuel cost savings are estimated at $8.5 million, the transit company said. Calling it a change to "cleaner, greener" buses, VIA has embarked on a multi-year plan to significantly reduce vehicle emissions, decrease operating costs, and allow the completion of planned service enhancements. When complete, the transformation is supposed to reduce the transit fleet's nitrogen oxide ...

New Normal of Trump’s Foreign Policy thumbnail

New Normal of Trump’s Foreign Policy

Here's the Commander-in-chief of the Beautiful Piece of Chocolate Cake School of Foreign Policy, expanding on his next move regarding North Korea. "We are sending an armada. Very powerful. We have submarines. Very powerful. Far more powerful than the aircraft carrier. That I can tell you." As if bombing nuclear-armed North Korea would be as much of a piece of cake as Tomahawking a semi-deserted air base in Syria. But then, that's the beauty of a box of chocolates foreign policy; you never know what you're gonna get. © REUTERS/ Jonathan Ernst Trump: NATO No Longer Obsolete, Needs to Play Bigger Role Fighting Daesh NATO was "obsolete." Then it was "no longer obsolete." China was a currency manipulator. Then it was no longer a currency manipulator. There would be no more adventures in the Middle East. Then it's back to pulling a Hillary and bombing Syria. Russia was supposed to be a partner – basically in oil ...

How to talk about climate change at a party thumbnail

How to talk about climate change at a party

Her: Ugo, did you hear what Trump is doing? He wants to destroy the climate data! Me: I heard something about that. Her. But it is awful! How can they allow him to do that? Destroying the work of the climate scientists! Me. You know this joke about Trump? The one that goes, "What happens when Donald Trump takes Viagra?" Her. Ugo, you keep joking all the time. But don't you work in this field? Why don't you tell me what you are really thinking about climate change? Me (looking somber). It is a long story. Her. Seriously, I want to know what you think. Me. Really? Her. Absolutely. Tell me what's going on. Me (after having taken a deep breath). The situation is out of control. The amounts of carbon dioxide in the atmosphere are larger than any value seen in the past 10 million years and it ...

Alternative Energy

Natural Gas is part of our Renewable Future

California is leading the way to a healthier future through reducing carbon emissions and San Diego is following that same path. In fact, the City of San Diego recently took the top spot for private solar earning the distinction of being named the city with the most installed solar panel systems in America. At SDG&E, we’re embracing clean energy innovation as well. From employee invented technology like the Renewable Meter Adaptor, that makes solar faster, safer and more affordable to install, to our online and fast track application processes that have streamlined the connection process for many of our customers who have chosen to install private solar. And, while the state has set an aggressive course that includes more renewable energy and less greenhouse gas emissions over the next decade to achieve the goal of cleaner air; SDG&E is bringing more clean ...

“Total Chaos” – Cyber Attack Feared As Multiple Cities Hit With Simultaneous Power Grid Failures thumbnail

“Total Chaos” – Cyber Attack Feared As Multiple Cities Hit With Simultaneous Power Grid Failures

The U.S. power grid appears to have been hit with multiple power outages affecting San Francisco, New York and Los Angeles. Officials report that business, traffic and day-to-day life has come to a standstill in San Francisco, reportedly the worst hit of the three major cities currently experiencing outages. Power companies in all three regions have yet to elaborate on the cause, though a fire at a substation was the original reason given by San Francisco officials. A series of subsequent power outages in Los Angeles, San Francisco, and New York City left commuters stranded and traffic backed up on Friday morning. Although the outages occurred around the same time, there is as of yet no evidence that they were connected by anything more than coincidence. The first outage occurred at around 7:20 a.m. in New York, when the power went down at the ...

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Saudi Arabia, a kingdom built on oil, plans a future beyond it thumbnail

Saudi Arabia, a kingdom built on oil, plans a future beyond it

Ever since oil was discovered in the Arabian desert in 1938, Saudi Arabia has been the world’s premier petro-state and the dominant force within the Organization of the Petroleum Exporting Countries. Flush with oil revenue, the country has had neither income taxes nor corporate taxes while bestowing on its people heavy subsidies for food and fuel. And the royal family has built spacious palaces at home while buying swanky houses abroad in places like London and yachts in the south of France. But now the oil-rich kingdom wants to look beyond oil. The crash in crude oil prices that began in 2014 has left the country with a gaping budget deficit. And while oil prices have recovered, climate activists have tried to bring the end of the hydrocarbon age closer and many analysts have predicted the approach of “peak demand” that would ...

Public Policy Trump denies Exxon permission to drill for oil in Russia
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The Trump administration has denied ExxonMobil permission to bypass sanctions to drill for oil ...
Afghan Ex-President Karzai: ISIS Is A Tool Of The United States thumbnail Afghan Ex-President Karzai: ISIS Is A Tool Of The United States
In an interview with Voice of America (VOA) on Wednesday, ex-Afghan President Hamid Karzai - ...
Climate Change As Genocide, By Michael Klare thumbnail Climate Change As Genocide, By Michael Klare
Not since World War II have more human beings been at risk from disease ...
Major Oil Producers Reach Deal to Extend Output Cuts thumbnail Major Oil Producers Reach Deal to Extend Output Cuts
A number of major crude-producing countries reached an initial agreement to extend output cuts, Saudi ...

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@TFL1728 @StefMacWilliams Even if runaway #climatechange decimated humans, #peakoil theory would still apply if another life form became able to continue extraction.

@tensiontest @StefMacWilliams and any theory that does not take into account all aspects of the dynamics of the system is describing is flawed. #PeakOil is stupid.