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News from March 2007

China has 2 billion tons of oil in reserves

China has 2 billion tons of oil in reserves thumbnail

The Ministry of Land and Resources recently gathered primary statistics on oil and gas reserves from PetroChina Company Limited, China Petroleum and Chemical Corporation, China National Offshore Oil Corporation Limited and some local companies. The data revealed that, as of the end of 2006, China had 2.043 billion tons of petroleum in remaining commercial recoverable […]


Midwest utilities seek to ’store’ wind power in aquifer

Midwest utilities seek to ’store’ wind power in aquifer thumbnail

Wind power is clean and renewable. Now a group of utilities in Iowa, Minnesota and the Dakotas has a plan to make it reliable. Using existing technology, backers plan to spend $200 million for a “wind storage” project that would be under construction in 2009 and in service in 2011. Three thousand feet below the […]


HP aims to cut its energy consumption by 20pc

HP aims to cut its energy consumption by 20pc thumbnail

Hewlett-Packard Co, the world’s largest technology company, wants to become a global leader in improving corporate energy efficiency. The Palo California-based computer and printer maker said today that it plans to reduce its global energy consumption 20 per cent over the next three years, based on 2005 energy use levels. HP plans to cut energy […]


UK slams US biofuel subsidies

UK slams US biofuel subsidies thumbnail

Britain was looking for a way to tackle imports of biofuels from the US, which it believes will undermine the commercial case for European production, UK transport minister Stephen Ladyman said. “People who are being subsidised to produce renewable fuels in the US are now planning to export that fuel to Europe, where they hope […]


Eyes Wide Shut: The Politics of Energy – James Puplava

Eyes Wide Shut: The Politics of Energy – James Puplava thumbnail

Time is running out and we are drawing closer to our next energy crisis. It is a crisis brought on by the conflict between rising global demand for energy and our growing inability to supply that demand. Despite the ominous signs all around us, our nationFinancial Sense


The limits of a Green Revolution?

The limits of a Green Revolution? thumbnail

In the second of his series, BBC World Affairs Correspondent Mark Doyle analyses the state of food production across the globe BBC


US shellfish industry destroyed by shark fishing

US shellfish industry destroyed by shark fishing thumbnail

The demise of the shellfish industry in the US can be directly traced to the way humans have devastated ocean shark populations, a new study suggests. Humans eat big sharks, sharks eat rays, rays eat molluscs. And so it is that by drastically reducing populations of large sharks, humans have indirectly wiped out their own […]


End of oil heralds climate pain

End of oil heralds climate pain thumbnail

Many people think that running out of oil, or “peak oil”, would be good for the climate. In his new book The Last Oil Shock, David Strahan begs to differ; he suggests it may bring catastrophe. BBC


The Oil Drum: CNBC: Matt Simmons and John Kilduff Discuss the GAO Report on PO

The Oil Drum: CNBC: Matt Simmons and John Kilduff Discuss the GAO Report on PO thumbnail

Here’s the video from CNBC today. Simmons does a very nice job…very important video actually, as they talk about the GAO report and lay out the peak oil case quite well. Much more after the jump to The Oil Drum.


The Oil Drum: Financial Intelligence: How Arbitrage Forensics Provide Insight

The Oil Drum: Financial Intelligence: How Arbitrage Forensics Provide Insight thumbnail

Jeff Vail discusses an interesting phenomenon with respect to energy futures prices, that long dated futures are limited in how much they can go up (but not down) based on arbitrage principles. Because the price of distant oil futures quickly rise alongside spot market prices when spot markets are moved by short-term events, we can […]


Huge jump in corn planting expected

Huge jump in corn planting expected thumbnail

Not since 1981, when President Reagan ended the Soviet grain embargo, have Iowa farmers planted close to the record 14.4 million acres of corn they seeded that year. But that record could fall this year. The best indication will come when the U.S. Department of Agriculture releases on Friday its widely anticipated survey of farmers’ […]


Natural Resources, Energy & the Environment in the 21st Century

Natural Resources, Energy & the Environment in the 21st Century thumbnail

Another GAO Report: 21st Century Challenges: Reexamining the Base of the Federal Government … Today, according to our analysis of U.S. Department of Energy (DOE) data, total U.S. energy consumption is equivalent to about 790 billion gallons of gasoline per year, which is nearly 2,800 gallons consumed by every man, woman, and child each year. […]


US Auditor: Energy Dept Should Develop Plan For Peak Oil Era

US Auditor: Energy Dept Should Develop Plan For Peak Oil Era thumbnail

WASHINGTON -(Dow Jones)- The U.S. Department of Energy and other federal agencies need to develop a strategy to mitigate the effects of a peak in oil production, which studies show could occur by 2040, a federal oversight body said Thursday. While there was a great deal of uncertainty over the timing of peak oil because […]


New Attempt to End Crippling French Port Strike

New Attempt to End Crippling French Port Strike thumbnail

Strikers at France’s Fos Lavera oil hub are meeting port and Gaz de France officials on Thursday in a fresh bid to find a way out of a 16-day strike threatening fuel supplies to motorists and exports to U.S. markets. Some refineries could start shutting down as soon as Friday if the dispute is not […]


”Greener” buildings could slow global warming: UNEP

”Greener” buildings could slow global warming: UNEP thumbnail

OSLO (Reuters) – Better architecture and energy savings in buildings could do more to fight global warming than all curbs on greenhouse gases agreed under the U.N.’s Kyoto Protocol, a U.N. study showed on Thursday. Better use of concrete, metals and timber in construction and less use of energy for everything from air conditioners to […]


Mosul hit by fuel shortage

Mosul hit by fuel shortage thumbnail

MOSUL, Iraq, March 27 (UPI) — The Iraq fuels commission tasked with providing fuel to the north of the country said the city of Mosul is paralyzed by a shortage. Syria suspended fuel shipments March 22, which compounded the already heightened shortage brought about by war, smuggling, insurgent attacks and lack of refining capacity. Iraq […]


Book review : The Last Oil Shock by David Strahan

Book review : The Last Oil Shock by David Strahan thumbnail

David Strahan The story is a familiar one. World oil production is expected to peak soon, no alternative forms of energy can replace it sufficiently, we


GAO: Peak Oil Report!

GAO: Peak Oil Report! thumbnail

The prospect of a peak in oil production presents problems of global proportion whose consequences will depend critically on our preparedness. The consequences would be most dire if a peak occurred soon, without warning, and were followed by a sharp decline in oil production because alternative energy sources, particularly for transportation, are not yet available […]


Castro blasts U.S. biofuel plans

Castro blasts U.S. biofuel plans thumbnail

Ailing Cuban leader claims 3 billion people will die due to biofuel projects …In Thursday’s article Castro said more than 3 billion people in the world were condemned to die prematurely of hunger or thirst from plans by his ideological foe, the United States, to convert foodstuffs like corn into fuel for cars. “This is […]


Utility TXU slapped with $210 million fine

Utility TXU slapped with $210 million fine thumbnail

Texas regulators recommend penalty for electricity price manipulation DALLAS – State regulators on Wednesday recommended $210 million in fines against TXU Corp. after an investigation accused the state’s largest utility of manipulating the electric market to its own benefit. The alleged market abuse was observed between June and September of 2005, according to the Public […]


Scientists say Antarctic ice sheet is thinning

Scientists say Antarctic ice sheet is thinning thumbnail

HOUSTON (Reuters) – A Texas-sized piece of the Antarctic ice sheet is thinning, possibly due to global warming, and could cause the world’s oceans to rise significantly, polar ice experts said on Wednesday. They said “surprisingly rapid changes” were occurring in Antarctica’s Amundsen Sea Embayment, which faces the southern Pacific Ocean, but that more study […]


Packaging waste: facts and figures

Packaging waste: facts and figures thumbnail

This map (click here for a larger version) showing the amount of packaging waste per person in Europe came as a bit of a surprise. OK, so Sweden and Finland come up tops – no surprises there. I expected Germany to do a little better. But the true surprise were the sore thumbs that are […]


Oil Traders Fear US Attack on Iran

Oil Traders Fear US Attack on Iran thumbnail

… It all would seem to point to the real possibility of an attack on Iran–a move that would be a war crime, that would be a disaster for the U.S., that would spark a global recession, and that would inflame the entire Middle East for years to come. Do the oil traders know something […]


Russia announces US attack on Iran set for Good Friday

Russia announces US attack on Iran set for Good Friday thumbnail

WASHINGTON DC, — The long awaited US military attack on Iran is now on track for the first week of April, specifically for 4 am on April 6, the Good Friday opening of Easter weekend, writes the well-known Russian journalist Andrei Uglanov in the Moscow weekly The first reactor at the Bushehr nuclear plant, where […]


Russian intelligence sees U.S. military buildup on Iran border

Russian intelligence sees U.S. military buildup on Iran border thumbnail

MOSCOW, March 27 (RIA Novosti) – Russian military intelligence services are reporting a flurry of activity by U.S. Armed Forces near Iran’s borders, a high-ranking security source said Tuesday. “The latest military intelligence data point to heightened U.S. military preparations for both an air and ground operation against Iran,” the official said, adding that the […]


Odessa-Brody oil pipeline project not anti-Russian – Polish President Kaczynski

Odessa-Brody oil pipeline project not anti-Russian – Polish President Kaczynski thumbnail

The Odessa-Brody oil pipeline project, which would ship Caspian oil to Poland and Europe, is not an anti-Russian project, and there is technical justification to include Russia in the project, Polish President Lech Kaczynski said Thursday. Biznes


Shell, ConocoPhillips win more UK North Sea licenses – DTI

Shell, ConocoPhillips win more UK North Sea licenses – DTI thumbnail

Royal Dutch Shell PLC and ConocoPhillips have secured the licenses to develop the Caravel, Shamrock and Kelvin fields in the North Sea, said Alistair Darling, the UK’s trade and industry secretary. Shell, along with partner ExxonMobil Corp will be developing Caravel, which will pump its first oil in December. It will also be operating the […]


Canada looks to double oil sands output

Canada looks to double oil sands output thumbnail

In 2006, Canadian producers put out 1.1 million barrels per day of oil from their oil sands reserves. Greg Stringham, vice president of the Canadian Association of Petroleum Producers, said they have two possible outlooks for the future of Canadian oil sands; both involve increased production, it’s just a matter of how much.EarthTimes


Go West, oil hunters, but go mob-handed

Go West, oil hunters, but go mob-handed thumbnail

West Africa may not be particularly stable, but what makes it so appealing to foreign interests is that most of the oil can be found offshore and on a direct shipping route to Europe or North America. Some industry estimates predict West African oil and gas will supply 25 per cent of the US energy […]


Oil-thirsty China turns to farmland for bio-fuel

Oil-thirsty China turns to farmland for bio-fuel thumbnail

Chinese scientists are researching on new technologies and breeding oil-rich rapeseed species to run its fast-growing economy with bio-fuel. Experts attending an ongoing international conference on rapeseed said China, whose annual rape production is 30 per cent of the world total, should use farmland to manufacture bio-diesel, an effort that will reduce its dependence on […]


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