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News from February 2005

UK faces power cuts within three years, warn energy companies

UK faces power cuts within three years, warn energy companies thumbnail

By Tim Webb

27 February 2005

Britain’s biggest energy companies and unions will issue their starkest warning yet to ministers this week about the consequences of the Government’s flawed energy policy.

Senior industry figures will say that the country faces power cuts in three years unless the policy is overhauled.

The Independent


Bear Flattener – Jim Puplava

Bear Flattener – Jim Puplava thumbnail

As the Fed withdraws liquidity from the financial markets, the major averages will continue to struggle until eventually they fall. The cyclical bull market in equities is close to peaking, if it hasn’t already. The stock market has very little upside as long as interest rates are rising. The Fed is trying to influence long […]


Anti-wind farm report dismissed

Anti-wind farm report dismissed thumbnail

A report from the world’s biggest wind power producer denouncing wind farms as too expensive and inefficient has been widely dismissed in the UK.Money would be better spent targeting energy efficiency to combat greenhouse gases, the German Energy Agency said. It comes as UK wind power grows at the fastest rate in the world, with […]


Market Failure: Global Warming and Peak Oil

Market Failure: Global Warming and Peak Oil thumbnail

There is a wider lesson from our evolving understanding of global warming that is particularity relevant to that other emerging global-scale problem threatening global society collapse: peak oil.

Markets have never quantified and accounted for the greenhouse gas costs of burning fossil fuels. The costs of production and demand by users have always been the market variables setting the price of coal and oil.

aljazeerah.info


White House Budget Slashes Clean Energy

White House Budget Slashes Clean Energy thumbnail

A Look at the Administration’s Budget Request for Sustainable Energy Programs in FY2006
by Ken Bossong

In his most recent State of the Union address, President Bush stated that the United States needed “reliable supplies of affordable, environmentally responsible energy,” and urged Congress to “pass legislation that makes America more secure and less dependent on foreign energy.” However, there is a marked disconnect between the President’s words and the funding priorities he laid out in the Fiscal Year 2006 (FY06) budget request he recently submitted to the U.S. Congress.

Renewable Energy Access


The Pendulum of Global Leadership – Stephen Roach

The Pendulum of Global Leadership – Stephen Roach thumbnail

Financial markets are abuzz about the possibility of yet another spurt of US-centric global economic growth. Irrespective of the current-account deficit and external debt implications of this outcome, America’s growth dynamic is the magic to which the rest of a growth-starved world has become addicted. In the minds of investors and policymakers alike, there’s no […]


Americans’ personal incomes take a dive

Americans’ personal incomes take a dive thumbnail

Personal incomes which had been bolstered by a large stock dividend payment in December plunged 2.3 percent in January, the sharpest decline in more than a decade. Consumer spending was flat, the government reported today. The Commerce Department said the sharp January drop in incomes followed a record 3.7 percent jump in incomes in December […]


Breakthrough in solar photovoltaics

Breakthrough in solar photovoltaics thumbnail

A Palo Alto (California ) start-up, named Nanosolar Inc., founded in 2002, claims that it has developed a commercial scale technology that can deliver solar electricity at 5 cents per kilowatt-hour.

The Hindu


Global output struggles to meet demand

Global output struggles to meet demand thumbnail

Meanwhile, growth in new supply was disappointing. A series of late-year disruptions cut the annual gain in non-OPEC crude and liquids output to 1.4 million bpd, compared to a rate of 1.9 million bpd in 2003. Nevertheless, world oil production grew 3.4% last year, to 71.721 million bpd. Much of the gain came from reserve […]


‘’some sort of peak”

‘’some sort of peak” thumbnail

Editorial Comment, Polemic propaganda (Or, the 2% solution.) “The world is running out of oil.” Few statements are as undeniably true as this. But it’s a bit like the lyrics from an old blues song, “the doctor says it’ll kill me, but he won’t say when.” The world started running out of oil shortly after […]


2005 oil outlook: Is this the year when demand outstrips supply?

2005 oil outlook: Is this the year when demand outstrips supply? thumbnail

Matthew R. Simmons, Chairman and CEO, Simmons & Company International, Houston … What this myriad of stories actually represents is part of a far bigger mosaic for what is emerging in global oil markets as 2005 gets underway. It appears that we are entering a new oil era that could bear little resemblance to the […]


Filmmaker says rude awakening about oil is coming

Filmmaker says rude awakening about oil is coming thumbnail

Canadian filmmaker Greg Greene has oil depletion on his mind and has made it his mission to spread the news of something that he and others think may be the biggest and most under-reported story around. Greene’s film, “The End of Suburbia,” will be showing at the Images Cinema in Williamstown on March 8 at […]


Five days that shook world politics

Five days that shook world politics thumbnail

There is no Cold War ahead. Yet the period between February 20 and 24 was extraordinary. Seldom have fault-lines in world politics surfaced with such clarity. If the principal objective of President George Bush’s European tour (February 20-24) was to heal trans-Atlantic rifts stemming from the great differences over the Iraq war, it was a […]


Plan B: A Blueprint for People & the Planet

Plan B: A Blueprint for People & the Planet thumbnail

The global demand for food and fresh water continues to rise. But world grain production is down. And we’re depleting groundwater at an unsustainable pace. Global temperatures are rising rapidly due to emissions from cars, factories and power plants. “Plan A”—maintaining the status quo thru over consumption of resources—is not working. In a science fiction […]


Qatar and Shell in $6bn gas deal

Qatar and Shell in $6bn gas deal thumbnail

Shell has signed a $6bn (£3.12bn) deal with the Middle Eastern sheikhdom of Qatar to supply liquid natural gas (LNG) to North America and Europe. The UK-Dutch group will own 30% of the project, with Qatar’s state oil firm owning the rest. BBC *** Energy of the… futureQatar and Shell in $6bn gas deal Qatar […]


The House of Saud’s eternal dilemma

The House of Saud’s eternal dilemma thumbnail

Descendants of former US president Franklin D Roosevelt and Saudi Arabia’s first king, Ibn Saud, celebrated this month in Miami the 60th anniversary of the first Saudi-US summit at the Suez Canal’s Great Bitter Lake, where the foundations were laid for a “special relationship” between the two countries based on an oil-for-security alliance. What no […]


How not to depend on oil

How not to depend on oil thumbnail

THE most important statement made last week came not from Vladimir Putin or George W. Bush but from Ali Naimi, Saudi Arabia’s shrewd oil minister. Naimi predicted that crude prices would stay between $40 and $50 throughout 2005. For the last two years Opec’s official target price has been $25. Naimi’s statement signals that Saudi […]


Indonesia Protests Malaysia’s Oil Pacts

Indonesia Protests Malaysia’s Oil Pacts thumbnail

Indonesia on Friday protested Malaysia’s move to award oil production sharing contracts to Royal Dutch/Shell Group of Cos. in two offshore blocks, which Indonesia claims are within its territory. YahooNews


‘Setting the Stage for a New Cold War: China’s Quest for Energy Security”

‘Setting the Stage for a New Cold War: China’s Quest for Energy Security” thumbnail

A notable feature of 2004 was its volatility in oil prices — New York light sweet crude prices reached a peak of $55.67 on October 25 ending the year up 33.6 percent at $43.45 per barrel. While a number of supply-side and supply-chain factors have contributed to this situation, the most significant long-term factor contributing […]


Britannia ruins the waves: how pollution and over-fishing are destroying sea lif

Britannia ruins the waves: how pollution and over-fishing are destroying sea lif thumbnail

Fish are changing sex. Species are disappearing as breeding patterns collapse. The food chain is in chaos as temperatures rise, says the first ever major audit of the state of our seas. Severin Carrell reveals what ministers will say on Tuesday about the damage being done to British waters by industry and global warming Independent


Pakistan, Algeria reach Accord On Cooperation In Oil and Gas Fields

Pakistan, Algeria reach Accord On Cooperation In Oil and Gas Fields thumbnail

Pakistan and Algeria have agreed to promote cooperation in oil and gas fields and take benefit from each other experience for mutual advantage, an official statement said. Algerian Ambassador to Islamabad Nadir Alarbaqui met Pakistan’s Petroleum and Natural Resources Minister Amanullah Khan Jadoon.www.SaudiPressAgency


Oil prices likely to spark a recession, then take a dip

Oil prices likely to spark a recession, then take a dip thumbnail

Oil has pushed over $50 a barrel again. Adjusted for inflation, oil has come within range of petroleum crisis trading during the ’70s and ’80s, notes Thomas Keane of Bloomberg News. If these prices are maintained, history suggests the result will be recession accompanied by a falloff in prices. In the 1970s, crude oil prices […]


Wind farms dealt a blow by energy study

Wind farms dealt a blow by energy study thumbnail

February 28, 2005
Berlin: Wind farms are an expensive and inefficient way of generating sustainable energy, a study from Germany, the world’s leading producer of wind energy, has found.

The report concludes that instead of spending billions on building new wind turbines, the emphasis should be on making houses more energy-efficient.

Fairfax Digital


Proving Proven Reserves Are Proven: An Art Form Or A Science?

Proving Proven Reserves Are Proven: An Art Form Or A Science? thumbnail


Simmons presentation:

– Information on Yiabal and Ghawar, p. 29-30

– “if we fail to reform, we deserve any unfortunate surprises that befall us”, p. 36

Simmonsco-Intl


Investors watch rising energy costs

Investors watch rising energy costs thumbnail

Morris Beschloss Special to The Desert Sun February 27, 2005 The Paris-based International Energy Agency’s recent pessimistic update about the world’s oil supply/demand inversion set off global alarm bells. This was a major turnaround from a previous projection issued by the respected international agency before the end of last year. With the IEA trumpeting increased […]


OPEC signals it wants high oil prices

OPEC signals it wants high oil prices thumbnail

OPEC is sending out signals to the global market that the cartel wants oil prices, at near-record highs, to remain there this year.

Analysts say the situation will create a bidding war for Middle East oil.

Yahoo!


China: Severe Coal Shortage Worsens

China: Severe Coal Shortage Worsens thumbnail

BEIJING (AFP) – China’s breakneck economic growth is causing a dangerous shortage of its most important energy source coal, with potential consequences for the entire world, state media warned.

Scarcity is so severe officials even worry aloud that it could cause social instability among the 1.3 billion Chinese, the China Business Weekly reported.

Yahoo!


Iraq: Oil pipeline blown up; Three Iraqis, US soldier dead

Iraq: Oil pipeline blown up; Three Iraqis, US soldier dead thumbnail

An oil pipeline in northern Iraq was ablaze Saturday after saboteurs blew it up. In the capital, a roadside bomb killed two people, officials and witnesses said.

Al Bawaba


Iraq plans to significantly boost oil production capacity

Iraq plans to significantly boost oil production capacity thumbnail

According to Al-Sharq Al-Awsat newspaper, Iraqi Oil Minister, Mr. Thamer Ghadban, estimated Iraq’s oil reserve at 115 billion barrels, which is the second largest in the world, after Saudi Arabia.

The minister also said that Iraq is planning to increase its oil production capacity to 6 million barrels per day in the next 5-6 years. He added that Iraq will soon expand the oil and gas excavation operations based on a comprehensive integrated plan.

Al Bawaba


Green lobby launches manifesto to create jobs from renewable energy

Green lobby launches manifesto to create jobs from renewable energy thumbnail

Scottish Renewables chief says as many as 17,500 jobs could be heading to Scotland from green energy, reports Valerie Darroch

The next few months will determine whether Scotland can reap the sizable economic potential benefits of and jobs boosts from renewable energy.

Scotttish Renewables, an umbrella body representing more than 600 companies in the sector, says that Scotland has a chance of gaining up to half of an estimated 35,000 jobs it believes will be created in the industry in the UK by 2020.

Sunday Herald


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