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News from June 2008

Somalia invites Russian firms to develop uranium deposits

Somalia invites Russian firms to develop uranium deposits thumbnail

Somalia hopes Russian companies will take part in the development of uranium deposits, and oil and natural gas production, the Somali ambassador to Russia said Friday. “Today we say: let’s cooperate. Somalia is a very rich country, this is the main basin of oil and gas on the territory of the Horn of Africa,” Mohamed […]


No evidence of manipulation in oil trading

No evidence of manipulation in oil trading thumbnail

There are so many holes in this argument that I scarcely know where to start. The CFTC says that some $5 trillion worth of futures and options transactions trades take place every day; can an influx of $240 billion, spread over five years, really propel prices upward to the extent that he and others claim? […]


One Reason Gas Is Emptying Your Wallet: Nigeria

One Reason Gas Is Emptying Your Wallet: Nigeria thumbnail

The attack also showed that Nigeria’s vast reserves of oil are being held hostage by a conflict that at best is little understood in the West. It is a three-way struggle, involving a government charged with negligence and corruption, oil companies blamed for terrible environmental damage that afflicts the region and an impoverished people. As […]


It’s the End of the World As We Know It

It’s the End of the World As We Know It thumbnail

The Peak Oil Crisis – Bryandt Urstadt; World Without Oil Game – Ken Eklund; Religion & Apocalypse – Martin Marty; Post-Apocalpytic Novel – Jim Crace; Cosmology & End of World – Lawrence Krauss After a YouTube clip on the subject of Peak Oil, we meet journalist Bryandt Urstadt, author of a Harper’s story called “Imagine […]


CNN : Gas Price Calculator

CNN : Gas Price Calculator thumbnail

Your paycheck and gas prices at cnn.com


Cost of tackling global climate change has doubled, warns Stern

Cost of tackling global climate change has doubled, warns Stern thumbnail

The author of an influential British government report arguing the world needed to spend just 1% of its wealth tackling climate change has warned that the cost of averting disaster has now doubled. Lord Stern of Brentford made headlines in 2006 with a report that said countries needed to spend 1% of their GDP to […]


World Recession 2009 as a Result of Peak Oil

World Recession 2009 as a Result of Peak Oil thumbnail

Whilst most people are vaguely aware that oil is important to the world economy, few understand the true impact of the recent rise in the oil price. In 1998 the heads of state of the USA and Australia failed to ratify the Kyoto protocols. They were trying to protect their country’s economies. Ironically, they engineered […]


As Oil Hits Another Record High, A Look at the New Geopolitics of Energy

As Oil Hits Another Record High, A Look at the New Geopolitics of Energy thumbnail

Oil prices have jumped to yet another record high, nearing $142 a barrel in Asian trading today. The latest price surge comes a day after OPEC…For more on oil we are joined by Michael Klare, author of 13 books, including


Overseas money seen wary as Detroit sinks

Overseas money seen wary as Detroit sinks thumbnail

MILAN (Reuters) – The mounting trouble for U.S. automakers has cost them any chance of winning more than partial help from a foreign investor or overseas rival. Bankers and analysts say Detroit-based automakers could still find partners for limited tie-ups but caution it could prove impossible to find a deep pocket overseas for the cash […]


Europe’s industry tries to adapt to high energy costs

Europe’s industry tries to adapt to high energy costs thumbnail

STAMFORD (Reuters) – Thirty meters from the kiln the heat is palpable. It is converting crushed stone to ‘clinker’ for cement at temperatures of 1,500 degrees Celsius. It was designed to burn pulverized coal. But rising coal prices have prompted Castle Cement, a unit of Germany’s Heidelberg Cement HBCB.DH, to replace over half the coal […]


Govts urged to get ready for ‘peak oil’

Govts urged to get ready for ‘peak oil’ thumbnail

ELEANOR HALL: Theories abound about why the price of oil has been skyrocketing. The head of OPEC says the weak US dollar and continuing tensions about Iran’s nuclear program are to blame. Economists say speculators are playing a role, as is soaring demand from India and China. But those who subscribe to the theory of […]


Fallout from Energy Policy Act 2005 Part 3: The Nuclear Option

Fallout from Energy Policy Act 2005 Part 3: The Nuclear Option thumbnail

In this third chapter of this ongoing discussion and analysis of United States energy policy and its ramifications both realized directly and indirectly from the U.S. Energy Policy Act of 2005, (EPAct 2005) it would be irresponsible not to include U.S. nuclear energy policy in such analysis. v As such, the EPAct 2005 and its […]


Fallout from the Energy Policy Act of 2005 Pts. 1&2

Fallout from the Energy Policy Act of 2005 Pts. 1&2 thumbnail

Now, foreign investors have been granted even greater leeway as now realized by such mandates of the Energy Policy Act of 2005 (EPAct 2005) which essentially eliminated the Public Utilities Holding Company Act (PUHCA) of 1935. Yet, EPAct 2005 has continually escaped public scrutiny and a lack of accountability in both houses of the U.S. […]


China calls for rich country help on climate change

China calls for rich country help on climate change thumbnail

BEIJING (Reuters) – Addressing climate change head-on is in China’s best interests, but it needs developed countries to do their fair share, President Hu Jintao said in a speech reported by the Xinhua news agency on Saturday. Hu called on developed countries to step up efforts on emission reduction, and provide financial and technical support […]


Oil: The Final Warning

Oil: The Final Warning thumbnail

HOWLS of protest have been echoing round the globe as the price of oil punches through record highs with every passing week. In the UK, last month, hundreds of truckers descended on London to demand that planned fuel tax rises be scrapped. In continental Europe, where police clashed violently with truckers, two people died during […]


Experts warn of ‘no-holds-barred’ Arctic fight

Experts warn of ‘no-holds-barred’ Arctic fight thumbnail

A high-powered group of international experts are warning a “no-holds-barred” race for Arctic resources could shape up unless countries around the world move faster to reach agreements on development, safety and environmental standards. A new report by 40 experts from six different countries spells out four scenarios for the future of the top of the […]


Iowa Farmer Sees `Years’ of Damage to Corn Crops From Flooding

Iowa Farmer Sees `Years’ of Damage to Corn Crops From Flooding thumbnail

June 27 (Bloomberg) — Hard work and a bulldozer will help Kim Dummermuth finish planting his corn and soybeans. The rich topsoil lost to floods this month won’t be restored so quickly. “It will take a few years to get the productive capacity back,” said Dummermuth, taking a break on his northeast Iowa farm to […]


Soaring production costs hit Georgia growers

Soaring production costs hit Georgia growers thumbnail

… UGA economists predict it will cost Georgia farmers 14 percent more to grow cotton this year than last and 49 percent more to grow corn. The production costs for growing peanuts are up 21 percent from 2007, while the production costs for soybeans are up 49 percent. Since 2002, costs are up between 40 […]


Oil and the Writing on the Wall

Oil and the Writing on the Wall thumbnail

… Think of the global energy picture as an ever-changing kaleidoscope. Take a photograph of that kaleidoscope at any moment and cut it up into complicated pieces to make a jigsaw puzzle. A day or a week later, the puzzle will look very different. In other words, the global energy crisis is complicated. There is […]


The War Premium On Oil

The War Premium On Oil thumbnail

There are two questions being asked around the global water cooler these days, and no one seems to have a very good answer for them. First, why does the price of oil keep rising, even if the world economy is slowing down and the Saudis appear to be willing to raise production? Second, why do […]


Will the Last Superpower Recognize In Time What We Must Do to Save the Planet?

Will the Last Superpower Recognize In Time What We Must Do to Save the Planet? thumbnail

Cheap oil provided an energy subsidy that defined the wars, economies, settlements, values, and lifestyles of the 20th century. The result was a century of wasteful extravagance and inefficiency that encouraged us to squander virtually all Earth’s resources — including water, land, forests, fisheries, soils, minerals, and natural waste recycling capacity. We are now waking […]


NGA Satalite Imagery of Midwest flooding.

NGA Satalite Imagery of Midwest flooding. thumbnail

First established in 2005 in direct response to Hurricane Katrina, NGA Earth provides access to geospatial data over the World Wide Web. This service brings timely geospatial intelligence (GEOINT) to all users with an Internet connection.

The NGA Imagery layer has been updated to provide imagery in support of the midwestern United States floods. This imagery has been provided courtesy of DigitalGlobe


Beijing faces turmoil due to water crisis

Beijing faces turmoil due to water crisis thumbnail

BEIJING (AFP) – Beijing’s water crisis is so critical that the city is facing economic collapse and the need to resettle part of its population in coming decades, a leading development policy group said Friday. Experts predict the Chinese capital could run out of water in five to 10 years, according to Grainne Ryder, policy […]


Buffett Sees Persistent Stagflation Ahead

Buffett Sees Persistent Stagflation Ahead thumbnail

The U.S. economy suffers from stagflation thatNewsmax


Fuel price hike plunges Scottish fishing industry into crisis

Fuel price hike plunges Scottish fishing industry into crisis thumbnail

FOR five generations, the menfolk of the Stephen family have braved the waters around Scotland’s northernmost shores to make a living. Now however, James Stephen fears he will be the one to witness the death of that proud heritage. The latest skipper of the Harvest Hope is just one member of an Aberdeenshire town’s historic […]


Commodity prices put squeeze on businesses

Commodity prices put squeeze on businesses thumbnail

Rising commodity prices are squeezing profits and putting manufacturers and suppliers at each others’ throats. Ultimately, consumers may have to pay more as the costs are passed along. An indication of how soaring steel prices are roiling the auto industry was illustrated in a lawsuit Johnson Controls Inc. of Milwaukee filed in a Michigan federal […]


Fuel hike makes Britons street-smart

Fuel hike makes Britons street-smart thumbnail

The spiralling cost of petrol has meant that more than two thirds of Britain’s motorists have cut the number of journeys they make by carSify


As Energy Costs Soar, Farmers Remain Positive, Innovative

As Energy Costs Soar, Farmers Remain Positive, Innovative thumbnail

Most people are feeling the pinch at the gas pump, but how do rising costs affect farmers who rely heavily on energy expenditures for gas, diesel, electricity and other inputs? Three New York dairy farmers express concern mixed with optimism and ingenuity. LancasterFarming


Saying ’so long’ to the petroleum age?

Saying ’so long’ to the petroleum age? thumbnail

AS THE PRICE of oil cruises in the $140-a- barrel range and a gallon of gasoline costs as much as a cup of Starbucks coffee, everyone seems to have an opinion as to how we got here and what happens next. Robert K. Kaufmann probably is more qualified than most to weigh in, which he […]


The Detroit Three face the future

The Detroit Three face the future thumbnail

The Detroit Three didn’t see the run-up in fuel prices coming, according to economist Peter Morici, who is also a business professor at the University of Maryland. “[General Motors, Ford and Chrysler] have been caught off guard by $4 per gallon gas prices,” he told BNN in an e-mail conversation. “BNN


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