News from July 2007

The Oil Drum: The House is poised to debate and pass an Energy Bill this week…

Readers are encouraged to peruse recent coverage by CQ Today and EandENews (included below the fold) concerning the contents and status of elements in the bill. Here’s links to the actual text of the two bills – an energy bill and a tax bill. These two bills may well be combined into one bill by [...]

Oil settles above $78, sets new record

NEW YORK – Oil futures settled at a record high above $78 Tuesday on expectations that crude inventories fell last week and reports of new violence in Nigeria, a large oil producer and key supplier to the U.S. Investors believe Wednesday’s inventory report by the Energy Department’s Energy Information Administration will show that refiners drew [...]

Plateau Oil

The International Energy Agency (IEA) was created by the 26-member Organization for Economic Cooperation and Development (OECD) to monitor and report on the world Some say this is a sign of

House debates hotly contested renewable energy bill

House lawmakers are expected to debate this week a hotly contested effort to require electric utilities to produce more power from renewable sources such as wind and biomass. A proposed amendment to a broad energy package by Rep. Tom Udall, D-N.M., would require power companies to increase use of wind turbines, solar panels, biomass, geothermal [...]

Australia: Iemma dumps coal power plan

THE NSW Government has indicated it is willing to use gas for its next power station, moving away from coal for the first time. The about-turn is the Government’s first response to plans for a national carbon trading regime. In a speech today, the Premier, Morris Iemma, will outline the case for the move to [...]

$5.8 Billion More in Oil Revenues and a

Speaking from La Cabrerita in the state of Anzoategui during his weekly program Alo Presidente, Venezuelan President Hugo Chavez announced that Venezuela has recuperated US$5.8 billion annually through measures to introduce

Extraordinary oil revenues as of September

According to the Ministry of Finance, the Venezuelan Treasury as of September will begin receiving oil and non-oil additional revenues. The oil industry as of September is expected to deliver extraordinary oil royalties. That month Venezuelan state oil giant Pdvsa is expected to complete royalty contributions estimated in this year’s budget at USD 12.16 billion. [...]

Oil boom brings $649 billion windfall for Opec

Opec’s oil and gas export revenue surged 22 per cent to a record $649 billion in 2006 as crude prices hit an all-time high and the exporter group pumped close to full tilt, an Opec report showed on Tuesday. In the world’s biggest oil exporter Saudi Arabia income from petroleum exports, including crude oil, condensates [...]

Concerns Mount Over Nuclear Energy After Series of Scares

Sceptics say recent errors highlight the drawbacks of nuclear energy Irregularities at nuclear reactors in Germany and Japan in recent weeks have rekindled safety fears and raised tough questions about nuclear energy amid increasing environmental concerns. The nuclear plant at Brunsbuttel in the northern German state of Schleswig-Holstein is now the world’s safest. It’s not [...]

Energy Bill Aids Expansion of Atomic Power

A one-sentence provision buried in the SenateThe biggest champion of the loan guarantees is Senator Pete V. Domenici of New Mexico, the ranking Republican on the Senate Energy Committee and one of the nuclear industry