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News from July 2007

Sri Lanka hikes petrol pump price by 17 percent

Sri Lanka hikes petrol pump price by 17 percent thumbnail

COLOMBO (Thomson Financial) – Sri Lankan oil companies said Sunday they have raised petrol pump prices by 17 percent, the sixth increase this year amid high crude oil costs. Petrol now costs 117 rupees per litre, Ceylon Petroleum Corp Chairman Asantha de Mel said. ‘The government gave us the go-ahead earlier this month for a […]


Expert: China should raise resources tax to encourage energy saving

Expert: China should raise resources tax to encourage energy saving thumbnail

China should increase resources tax to encourage energy saving and curb environmental degradation, a renowned economist said here Sunday. “The resources tax should be raised to a reasonable level to encourage efficient energy use and ease pressures on the country’s resources and environment,” said Justin Yifu Lin, chief of the China Center for Economic Research […]


PIPEDREAM: The hydrogen-driven vehicle roadmap leaves many unanswered questions

PIPEDREAM: The hydrogen-driven vehicle roadmap leaves many unanswered questions thumbnail

THE Indian government has announced an ambitious plan to phase in a million hydrogen-fuelled vehicles by 2020. Seventy-five per cent of these vehicles will be two- and three-wheelers, according to the Union ministry of new and renewable energy. A hydrogen based power-generating capacity of 1,000 MW and Rs 25,000 crore worth of hydrogen supply infrastructure […]


India: Sunny days ahead for solar market

India: Sunny days ahead for solar market thumbnail

India is becoming an attractive solar market and firms such as Moser Baer and US-based Signet Solar are confident of the growth in this market. The recent semiconductor policy sops The deal could get Moser Baer Photo Voltaic (MBPV) around $1 billion in revenues over the period of the contract. A company spokesperson, however, declined […]


Shell resists U.S. pressure over Iran

Shell resists U.S. pressure over Iran thumbnail

Royal Dutch Shell is to continue preparatory work on a $10 billion natural gas project in Iran, despite calls from leading U.S. pension funds to withdraw, SHARECAST reported from London on Thursday. The pension funds pressuring Royal Dutch Shell and other multinational energy companies to cease operations in Iran include New YorkThe company


Coal plant prospects poor

Coal plant prospects poor thumbnail

Last week was a tough one for proposed coal plants in Montana The main problem has to do with the nearly universal scientific acceptance that human activities


Colorado lawmakers get firsthand look at energy boom

Colorado lawmakers get firsthand look at energy boom thumbnail

An aerial photo of a 10-square-mile area of La Plata County showed natural gas wells but looked more like a bombing had scarred the landscape. Lawmakers gasped when they saw a photo of a house that exploded because of methane seepage. Another photo showed a road used for drilling rigs that looked like someone used […]


Ethanol pushing up the price of popcorn, pizza

Ethanol pushing up the price of popcorn, pizza thumbnail

More acres are being used for field corn, putting the squeeze on popcorn production Ethanol is being blamed for driving up the price of all that is right with America – from popcorn to pizza. Poppycock, say ethanol’s defenders. The food fight is coming at a time when soaring demand for ethanol has set off […]


Iran rejects OPEC output hike

Iran rejects OPEC output hike thumbnail

Iran said Sunday it was firmly opposed to a hike in the Organization of Petroleum Exporting Countries’ (OPEC) crude oil output, amid market speculation the cartel could raise production to stem surging prices, state television reported on its Web site. Oil minister Kazem Vaziri Hamaneh said current surging oil prices were due to political concerns […]


EU might free up land for biofuel crops

EU might free up land for biofuel crops thumbnail

Biofuels, destined to partially offset a coming oil shortage and reduce greenhouse gas emissions, will require much more farm land, forcing the European Union to cultivate fields that have lain fallow. The European Union wants biofuels to account for 10 percent of the total of motor fuels in 2020, against an estimated 1.6 percent last […]


The Oil Drum: For all practical purposes the markets are closed right now

The Oil Drum: For all practical purposes the markets are closed right now thumbnail

While you’ve certainly heard of the big drop in the Dow Jones in the past two days, and probably heard that the housing market keeps on getting worse, the most ominous news are actually coming from a distinct part of the financial markets – leveraged debt.Much more after the jump to The Oil Drum.


Bombing Pemex–Or Not?

Bombing Pemex–Or Not? thumbnail

Did Guerrillas Strike at the Heart of Mexico’s Oil Industry? …Although the Mexican government refrained from using the T-word, it was definitely in the air. “EPR ALLIANCE WITH AL QAEDA!” whooped the headlines on newspapers hanging from the kiosks. Indeed, a purported Al Qaeda document emerged in 2006 encouraging attacks against U.S. allies that supply […]


Buying shotgun shells will put a bigger hole in your wallet

Buying shotgun shells will put a bigger hole in your wallet thumbnail

Prices continue yearlong increase with no relief in sight If you haven’t bought shotgun shells in a few months Remington, Federal and Winchester, the major shotshell manufacturers in this country, are all raising prices, citing the rapidly escalating cost of metals, mostly lead, essential to shell production. However, copper, steel and bismuth shotshells also increased […]


Higher Prices for Oil Can Translate into More Sustainable Transportation

Higher Prices for Oil Can Translate into More Sustainable Transportation thumbnail

The price of oil has been increasing rapidly since 2002, going from ~$25/barrel to its current flirtations with a record $80/barrel. Prices are skyrocketing largely because global demand is rising quickly, led by China 1. In this context of higher prices, economists would expect competitive producers to take advantage of the current price premium and […]


Toiling in the Dark: Africa

Toiling in the Dark: Africa thumbnail

LUSAKA, Zambia


Oil Profits Show Signs of Aging

Oil Profits Show Signs of Aging thumbnail

Exxon Mobil Corp.’s disappointing second-quarter results highlight a new reality for the oil business: Increasing profitability amid today’s high prices is increasingly difficult. …Production woes and cost inflation have affected the entire industry as oil companies spend more on increasingly expensive rigs, equipment and services to tap bigger and more complicated projects. “Obviously we’re not […]


Mexican insurgents try out new tactics

Mexican insurgents try out new tactics thumbnail

Mexico’s Popular Revolutionary Army (EPR) was an afterthought until it claimed responsibility for the two July bomb attacks on the oil and gas infrastructure in the central Mexican states of Guanajuato and Queretaro. The attacks attracted national and international media attention, forced the Mexican government to admit they had no idea it was coming, and […]


Hydrogen Hype: Fuel Cells and Hydrogen Are No Panacea

Hydrogen Hype: Fuel Cells and Hydrogen Are No Panacea thumbnail

I’m going to make a prediction today: you will never drive a hydrogen fueled car. Although hydrogen does indeed have some benefits in certain applications, it’s my task today to separate the reality of useful fuel cells from the hydrogen hype. That may seem like a bold statement to you now, but by the end […]


Hydrogen can replace gasoline, scientist contends

Hydrogen can replace gasoline, scientist contends thumbnail

FLINT – Stanford Ovshinsky, founder and chief scientist of Energy Conversion Devices Inc. in Rochester Hills, told the Flint Rotary Club on Friday that the world has to convert to alternative forms of energy. He said the scientific community predicts that if we do nothing, the planet’s climate will be irreversibly changed in 20 to […]


Albania: Energy crisis cuts working hours

Albania: Energy crisis cuts working hours thumbnail

TIRANA — The Albanian cabinet has decided to cut the working hours of public employees amid a national energy shortage. Beginning 30 July, government offices will be open only five hours a day The decision taken after a recommendation by Energy Minister Genc Ruli does not include the employees of the health system and emergency […]


Sprott’s Peak Oil Watch

Sprott’s Peak Oil Watch thumbnail

While browsing the web this morning, I came across a very interesting section on Peak Oil on Sprott Asset Management’s website (best viewed with Explorer). Sprott Asset Management is a Toronto-based boutique investment management company that I consider, for lack of a better term, pretty cool. They have taken some relatively unorthodox commodities bets in […]


Want to save the planet? Then grass over your roof

Want to save the planet? Then grass over your roof thumbnail

They may look like homes out of Beatrix Potter books, but houses with grass lawns planted on the roof may be the latest weapon in the battle against global warming. Green roofs, sewn with turf, trees and even herbaceous borders, are to be promoted by ministers who believe they will not only help to absorb […]


Japan to launch first hybrid trains

Japan to launch first hybrid trains thumbnail

Winding through rice paddies and lazily blowing its whistle along bubbly creeks, a two-car train in rural northern Japan is the latest entrant in the battle against global warming. Following its runaway success with hybrid cars, Japan is bringing the world hybrid trains. Regular passenger runs are set to begin Tuesday on a short mountain […]


Africa looks to biofuels for economic fortunes

Africa looks to biofuels for economic fortunes thumbnail

Faced with mounting energy crises, many African nations in recent years have zealously launched projects to produce cheaper biofuels, but few have gained steam. One fervent advocate of biofuels, Senegalese President Abdoulaye Wade, said during a trip to Brazil, a leading ethanol supplier, that biofuels would set in motion “a new revolution in Africa”. He […]


Should Canadian farmers cash in on biofuel boom?

Should Canadian farmers cash in on biofuel boom? thumbnail

Research published by the federal government found Canada would have to use 36 per cent of its farmland to produce enough biofuels to replace just 10 per cent of the fuel currently used for transportation. The publication also said 48 to 52 per cent of Canada’s total corn-seeded area and 11 to 12 per cent […]


Hog farms try collecting gas, making energy

Hog farms try collecting gas, making energy thumbnail

At this factory farm that houses more than 10,000 hogs, a black plastic tarp covering part of a hog waste pond swells with untapped opportunity. Captured beneath the bulging cover is methane gas, which rises off the pond as manure decomposes. It is a potent greenhouse gas trapping heat in the Earth’s atmosphere. But methane […]


The choice is ours: Big Oil or Chavez?

The choice is ours: Big Oil or Chavez? thumbnail

In the coming century, the world will transition from cars that run on liquid fuels to cars that run on something else, perhaps electricity or hydrogen. Until then, we have a choice. Either support the “Big Oil” companies that are SEC and IRS regulated, traded on the major stock exchanges, contribute to our economy and […]


China to improve energy efficiency

China to improve energy efficiency thumbnail

China has announced plans to double spending on improving energy efficiency and slashing pollution, in an effort to combat its dismal environmental record. The government will spend an extra 10 billion yuan on reducing energy use and cutting pollution, according to a statement from the National Development and Reform Commission (NDRC), the state body responsible […]


Should I run my car on cooking oil?

Should I run my car on cooking oil? thumbnail

A couple of years ago a group of canny and slightly subversive Welsh motorists began clearing the supermarket shelves in order to fill their car tanks, and all hell broke loose. They were pursued around town by a swathe of cop cars – it is, remember, illegal to power your car on a duty-free substance. […]


Russia leads race for North Pole oil

Russia leads race for North Pole oil thumbnail

In the darkest depths of the Arctic Ocean a new Cold War is brewing. American and British nuclear submarines lurk in the shadows, preparing for company. ‘Why has Britain been sending submarines into Arctic waters?’ asked Rob Huebert, associate director of the Centre for Military and Strategic Studies in Calgary. ‘Because it wants to retain […]


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#NorthSea #PeakOil #Energy | Twilight years: is the UK entering its last decade of oil and gas production? offshore-technology.com/features/twili… via @Offshore Technology

@paulcurrion @RodZeidan @giancarlotorpi @BrankoMilan Willingly or by force we are going to make the transition because there is no alternative. The problem is what level of economic output we'll have after it. I doubt for example that we are going to see electrical planes. Will we have energy rationing like in the 40s ? #PeakOil

@paulcurrion @RodZeidan @giancarlotorpi @BrankoMilan If renewables were easy to implement and they had good EROIs then I wouldn't worry. But since most renewables have very low EROIs then I think we are heading towards catastrophe. Many industries depend on fossile fuels. And we need a hard rudder turn... #PeakOil