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News from October 2008

Watchdog warns on declining oilfield output: report

Watchdog warns on declining oilfield output: report thumbnail

LONDON (Reuters) – Output from the world’s oilfields is declining faster than previously thought, the Financial Times reported on Wednesday, quoting from a draft International Energy Agency report it had obtained. The newspaper said the watchdog’s annual World Energy Outlook report, which studied the biggest fields, showed that without extra investment to raise production, the […]


Oil technology still key, even at low prices: execs

Oil technology still key, even at low prices: execs thumbnail

HOUSTON (Reuters) – Lower oil prices could slow the most difficult drilling projects, but energy companies will keep spending on new technology to stay competitive and prepare for the future, executives said at a conference Tuesday. “Some really challenging projects might be postponed, but I don’t think, in the long run, we’ll lose anything,” said […]


Brazil ethanol, sugar sector sees hard times ahead

Brazil ethanol, sugar sector sees hard times ahead thumbnail

SAO PAULO, Oct 28 (Reuters) – The global credit crunch delivered the latest punch to the gut of Brazil’s ethanol and sugar industry, which has been struggling with low margins over the past couple of years. The bright prospects of some years ago seem to have folded according to producers and analysts participating in the […]


China Crude imports surged 46 percent from a year earlier

China Crude imports surged 46 percent from a year earlier thumbnail

Crude imports surged 46 percent to 20 million metric tons or 4.87 million barrels a day in September from a year earlier, according to Bloomberg’s calculations based on figures provided by the Beijing-based Customs General Administration of China on its Web site today. August purchases were 15.65 million tons.

Bloomberg


Hydraulic hybrids? UPS orders a few

Hydraulic hybrids? UPS orders a few thumbnail

Fluid and air pumps capture energy lost in braking, saving fuel ATLANTA – By now we’ve all heard of hybrid vehicles, but there’s a lesser known variation: hydraulic hybrids, or HHVs. The technology delivers significant reductions in fuel use and pollution, and delivery giant UPS Inc. has made the first commercial purchase. At a press […]


Power struggles

Power struggles thumbnail

The general amazement at the power failures that plunged New York and much of the US’s north-eastern seaboard into darkness five years ago was perhaps best summed up by Bill Richardson, former energy secretary. He quipped that the US was “a superpower with a third world grid”. Yet the US is far from the only […]


Russia’s oil boom: Miracle or mirage?

Russia’s oil boom: Miracle or mirage? thumbnail

MOSCOW: After years of growth, Russia’s once mighty oil machine is feeling the strains of declining production and energy prices as the industry copes with the worst economic crisis in Russia in a decade. Oil companies that coasted on high commodity prices, Soviet-era infrastructure and easy Western bank credit have quickly fallen on hard times. […]


Sustainable Biofuel Test Flight Update

Sustainable Biofuel Test Flight Update thumbnail

The worldScoop


Oil could remain low for over a year – BP economist

Oil could remain low for over a year – BP economist thumbnail

World oil prices are likely to remain low for another 12-18 months if the global economic crisis continues to cut demand for oil, the group chief economist at BP said on Tuesday. ‘We should expect oil price volatility and low oil prices for 12-18 months until economic recovery helps prices to rise,’ said BP’s Christof […]


Is Big Oil for Obama?

Is Big Oil for Obama? thumbnail

Among Democrats, it is widely accepted that George Bush and Dick Cheney are in the tank for Big Oil. Yet some of the leading players in the U.S. energy business can After talking broadly about energy issues, I asked the CEO a fairly routine question: what


Peak Oil And The Systemic Collapse Of Modern Civilization

Peak Oil And The Systemic Collapse Of Modern Civilization thumbnail

… We were becoming more addicted. Like any previous civilization, ours required metals such as iron and copper. We dug miles into the ground to get those metals. All of this digging required powerful machinery. What was it run on? Oil. We have dug those metals out of the ground so much that they are […]


BP Starts Second Thunder Horse Well in Gulf of Mexico

BP Starts Second Thunder Horse Well in Gulf of Mexico thumbnail

(Bloomberg) — BP Plc, Europe’s second-largest oil company, started the second well at its Thunder Horse field in the Gulf of Mexico. BP is now extracting more than 100,000 barrels day of oil and gas from the deposit after it began pumping and exporting the fuel in June from the first well at the Thunder […]


The Flawed Economics of Nuclear Power

The Flawed Economics of Nuclear Power thumbnail

Over the last few years the nuclear industry has used concerns about climate change to argue for a nuclear revival. Although industry representatives may have convinced some political leaders that this is a good idea, there is little evidence of private capital investing in nuclear plants in competitive electricity markets. The reason is simple: nuclear […]


Credit Crunch May Block 20% of Deep Oil Rigs, Slow Petrobras

Credit Crunch May Block 20% of Deep Oil Rigs, Slow Petrobras thumbnail

(Bloomberg) — As many as 20 of the 100 deepwater oil rigs on order worldwide may be delayed or canceled as loan availability erodes, possibly slowing developments including the biggest petroleum discovery in the Americas in three decades. About half of the 20 rigs in question are rented for when they’re completed in two to […]


Top economist talks up risks of climate inaction

Top economist talks up risks of climate inaction thumbnail

HONG KONG (AFP) “One thing we should have learned from this experience of the financial crisis is if we ignore risk building in the system, that risk will get much more difficult to manage than if we recognise it and tackle it early,” the British economist told reporters in Hong Kong. “We have seen the […]


Big Oil May Be Close to Taking Control of the Biofuels Industry

Big Oil May Be Close to Taking Control of the Biofuels Industry thumbnail

The evidence is still anecdotal, but it By far the most important new development is Kinder Morgan Energy Partners


OPEC May Call Early Meeting If Oil Declines Further

OPEC May Call Early Meeting If Oil Declines Further thumbnail

(Bloomberg) — The Organization of Petroleum Exporting Countries may call a meeting earlier than the scheduled December date if oil prices continue to fall, according to Secretary-General Abdalla el-Badri. “If circumstances dictate we have another meeting, of course we will meet,” el-Badri said today at the Oil & Money conference in London. He said he […]


IEA concerned about oil project delays -Tanaka

IEA concerned about oil project delays -Tanaka thumbnail

LONDON (Reuters) – The International Energy Agency (IEA) is concerned about potential delays to upstream oil projects as a result of the recent sharp fall in crude prices, its head said on Tuesday. International benchmark U.S. crude prices have fallen sharply to below $65 a barrel from the peak above $147 struck in July, due […]


Iran ‘opens naval base’ near Gulf

Iran ‘opens naval base’ near Gulf thumbnail

Iran has opened new naval facilities east of the Strait of Hormuz, the narrow entrance to the Gulf which is key to oil supplies, state media say. Naval chief Admiral Habibollah Sayyari was quoted as saying the base in the town of Jask would enable Iran to block the entry of an “enemy” into the […]


World Is `Drowning in Oil’ (Again) After Drought

World Is `Drowning in Oil’ (Again) After Drought thumbnail

(Bloomberg) — Three months ago, the world was running out of oil. Seriously. I kid you not. Everywhere you turned, you heard whispers that the day of petroleum reckoning was at hand. Now there’s too much oil, prodding OPEC to cut production targets for the first time in two years. Last week, the Organization of […]


Don’t believe in climate change? You still need a carbon tax

Don’t believe in climate change? You still need a carbon tax thumbnail

…So let’s say that climate change really is bunk. Does that mean that we should forget about carbon taxes, the development of alternative energy, and all the other steps proposed to fight climate change? Not at all. In fact, there is only one such policy – carbon sequestration – that would be without value if […]


At Asian food market, a sign of lost confidence

At Asian food market, a sign of lost confidence thumbnail

…Empty rice shelves encase a fear that has transcended American culture, as consumers have learned that things they saw as entitlements – food staples, fuel for a commute, toys, and toothpaste free of poison – could no longer be taken for granted. “I was like, ‘What is going on?’ ” said Peter Park, a 28-year-old […]


Chinese hostages ‘executed’ by Sudan kidnappers

Chinese hostages ‘executed’ by Sudan kidnappers thumbnail

KHARTOUM, Sudan (AP) — The kidnappers of nine Chinese oil workers have killed five of the men, execution-style, a Sudanese Foreign Ministry spokesman says. Ali Sadiq said two other kidnapped workers managed to flee their abductors, while two still remain in the hands of the kidnappers. Sadiq told The Associated Press that the killing took […]


Heinberg: A Back-Row Seat at the Collapse Revue

Heinberg: A Back-Row Seat at the Collapse Revue thumbnail

…The actions of national governments and the central banks to shore up the credit market have constituted an effort to establish a floor below which the credit markets cannot fall further. Whether these efforts will be successful we shall discover soon enough. However, the deeper Peak Everything crisis effectively establishes an ever-descending ceiling above which […]


Petrobras’ Costa Says Oil Prices to Rise Again, Valor Reports

Petrobras’ Costa Says Oil Prices to Rise Again, Valor Reports thumbnail

(Bloomberg) — Oil prices will rebound because of scarce supply, said Paulo Roberto Costa, head of refining at Petroleo Brasileiro SA, Brazil’s state-controlled oil company, the Valor Economico newspaper reported. Declining output from existing fields, means new discoveries of 8.5 million barrels a day are needed to meet demand, Valor quoted Costa as saying. Delays […]


Candidates

Candidates thumbnail

Video: On Oct. 21, senior policy advisors from the McCain and Obama campaigns came together at Stanford University for a SEA (Scientrists & Engineers for America) forum to discuss energy and innovation policy in the next administration. Featuring; Kurt E. Yeager, cochair, McCain California Energy Security Coalition Daniel M. Kammen, Senior Advisor on Energy & […]


Cooling climate

Cooling climate thumbnail

Myth often cited by global warming skeptics debunked The reasons to disbelieve that humans are causing global warming are many and varied, skeptics say. For example: Natural factors such as long-term variations in solar radiation are causing the rise in worldwide average temperature. The urban heat island effect is skewing modern weather data, so the […]


Waste watchers: Save cash and the environment

Waste watchers: Save cash and the environment thumbnail

Around the country, women are losing weight The Waste & Resources Action Programme (Wrap), the Government’s packaging waste agency, has teamed up with the National Federation of Women’s Institutes to create 10 “Love Food” groups, teaching women how to waste less, be more efficient cooks and to cut shopping bills


Scientists Probe Antarctic Glaciers for Clues To Past and Future Sea Level

Scientists Probe Antarctic Glaciers for Clues To Past and Future Sea Level thumbnail

Scientists believe the barely observed Aurora Subglacial Basin, which lies in East Antarctica, could represent the weak underbelly of the East Antarctic Ice Sheet, the largest remaining body of ice on Earth. Until recently the East Antarctic Ice Sheet, which covers the two basins, had been considered a stable ice reservoir unlikely to contribute to […]


Arctic is melting even in winter

Arctic is melting even in winter thumbnail

The Arctic icecap is now shrinking at record rates in the winter as well as summer, adding to evidence of disastrous melting near the North Pole, according to research by British scientists. They have found that the widely reported summer shrinkage, which this year resulted in the opening of the Northwest Passage, is continuing in […]


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