News from June 2005

‘Clean energy’ power station move

The world’s first industrial-scale clean energy power plant to generate “carbon-free” electricity from hydrogen could be built in Aberdeenshire. The BBC

Oil prices ‘drive US action on climate’

The environment itself is not the burning issue at the White House – but the price of gas is. The pressure on the US president to do something on global warming along the lines sought by other world leaders comes not from traditional green activists, but from rising oil prices. Every increase causes a flutter [...]

S.Korea plagued by high oil price

South Korea’s economic ministers gathered in the prime minister’s office Thursday to discuss ways to shield Asia’s fourth-biggest economy from the impact of soaring crude oil prices. They were in a dilemma over how to cope with the external shock and unsure if measures to reduce the country’s oil consumption would hurt the economy, which [...]

Launch of World Oil Data Delayed Again on Quality Issues

The public launch of global oil data intended to boost crude market transparency has been delayed again, the International Energy Forum said Wednesday. The leaders of the Group of Eight industrialized nations hoped the Joint Oil Database Initiative, coordinated by the Riyadh-based IEF, would contribute to a cut in oil price volatility. The data is [...]

Oil tipped to hit $70 soon

Motorists despairing at rising petrol prices can take heart in forecasters tipping a pull back in the oil price by the end of the year. But don’t put the bicycle away just yet. The cost of oil is set to get worse before it gets better.

Energy cold war is on – China and India race to acquire PetroKazakhstan

The fight for owning oil and gas resources is on between America, India and China. These three countries in the world are in need of huge energy especially crude oil and natural gas while they produce less than 50% of they need. China National Petroleum Corporation, Sinopec and India’s Oil and Natural Gas Corporation were [...]

Japan report spurs call for joint oil hunt

China has appealed to Japan to jointly develop oil and gas resources in a disputed sea after a report that Tokyo may approve drilling rights. “Neither side should take unilateral action” before a deal on the East China Sea dispute, said Foreign Ministry spokesman Liu Jianchao. “If there’s no agreement yet on the demarcation, we [...]

Problems in pipeline for Russia’s oil dream

Russia’s plan to build an oil pipeline to the Pacific, equivalent to adding another Libya to the world oil market, risks foundering over money, politics, the environment and the question of where the oil will come from. The US$11.5 billion plan, mooted four years ago by the Russian pipeline monopoly Transneft, promises Russia its biggest [...]

US consumed 77m barrels more in 2004 than previously reported – Oilcast #14

In this Oilcast Adam Porter uncovers the fact that in 2004 America consumed an extra 77.75 million barrels of oil on top of what had previously been reported. That is nearly a whole day’s worth of global production…
Plus, Iraq can produce six million barrels per day, more on Unocal, Texan output falls, a Senator says ‘Arab stocks are dwindling’, Claude Mandil agrees with Oilcast.com and plenty more…

http://www.oilcast.com/

Spectre of drought hangs over Europe

Persistent hot weather following months of low rainfall yesterday raised the spectre of serious drought in many parts of Europe.Authorities urged consumers to cut back on water usage and in many places imposed bans on hosepipes and sprinklers and prohibited filling swimming pools or washing automobiles.