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News from March 2009

U.N. ‘Climate Change’ Plan Would Shift Trillions to Form New World Economy

U.N. ‘Climate Change’ Plan Would Shift Trillions to Form New World Economy thumbnail

A United Nations document on “climate change” that will be distributed to a major environmental conclave next week envisions a huge reordering of the world economy, likely involving trillions of dollars in wealth transfer, millions of job losses and gains, new taxes, industrial relocations, new tariffs and subsidies, and complicated payments for greenhouse gas abatement […]


Cost Works Against Alternative and Renewable Energy Sources in Time of Recession

Cost Works Against Alternative and Renewable Energy Sources in Time of Recession thumbnail

WASHINGTON Fifteen months into a recession, that prospect does not sit well in some quarters. New York Times Or follow the link at: Google News


Stored oil keeps lid on cash crude diffs: traders

Stored oil keeps lid on cash crude diffs: traders thumbnail

HOUSTON (Reuters) – The availability of crude oil stored on tankers at sea appears to be holding down U.S. cash crude differentials, industry sources said on Friday. Shuttle tanker traffic has increased between tankers too large to enter U.S. ports and Gulf Coast refineries, suggesting some oil is moving into the onshore distribution network, tanker […]


Peak oil review – Mar 23

Peak oil review – Mar 23 thumbnail

1. Production and Prices 2. Mexico 1. Production and Prices Last week started with oil falling to below $44 a barrel on Monday as OPEC voted to hold production steady. As the week progressed, prices climbed to a three-month high of nearly $53 after the US announced a plan to fight the recession by having […]


Gauging the Prospects for Nuclear Power in the Obama Era

Gauging the Prospects for Nuclear Power in the Obama Era thumbnail

When asked about their views on nuclear power, President Obama and his advisers say they support it. “I believe in nuclear power as a central part of our energy mix,” Energy Secretary Steven Chu recently told Congress. The phrase, both inclusive and relatively vague, has its advantages. But now on Capitol Hill and elsewhere, there […]


The Smart-Grid Dilemma

The Smart-Grid Dilemma thumbnail

Market forces are against smart-energy innovations. I am no expert on smart grids. But like any intelligent person in the world today, I have asked what steps would shepherd us toward smarter energy usage. Smart grids come back as an answer from the innovation angle. Let’s explore what a world with smart grids would enable. […]


Electric avenues: Battery-powered cars take over the roads

Electric avenues: Battery-powered cars take over the roads thumbnail

The oil giants could be taken by surprise at how quickly battery-powered cars take over the roads. David Strahan reports on a world-changing market ‘The future has not been cancelled,” quipped BP chief executive Tony Hayward in a bullish presentation about the company’s prospects recently. But one thing the company has been forced to cancel, […]


Oil watchers see stage being set for surging prices

Oil watchers see stage being set for surging prices thumbnail

NEW YORK — Investors are laying the groundwork for another bull run on the energy and commodities markets, in spite of signs suggesting the overall economy is still deteriorating. Analysts and economists are saying with some confidence that oil prices have bottomed out. And Wall Street is taking notice that spot and futures prices for […]


Fuel efficiency standards hiked for 2011

Fuel efficiency standards hiked for 2011 thumbnail

WASHINGTON – The Obama administration has raised fuel efficiency standards for new cars and trucks in the 2011 model year, according to CNBC New passenger cars will need to meet 30.2 mpg for the 2011 model year and pickup trucks and sport utility vehicles will need to reach 24.1 mpg. The changes are slightly less […]


Saudi Arabia to make wider use of I-Fields technology

Saudi Arabia to make wider use of I-Fields technology thumbnail

Saudi Arabia is planning to step up the use of the more advanced Intelligent Fields (I-Fields) in the development of its hydrocarbon sector after a successful I-Fields experience at its largest oilfield. The state-owned Saudi Aramco, the world’s largest oil producing company, said it had created a team to undertake I-Fields operations as it is […]


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In early assessments of global warming, most curves were smooth. Rising concentrations of greenhouse gases would raise temperatures. Then glaciologists started finding evidence of extraordinarily abrupt jumps in regional temperatures. Other evidence revealed past eras when seas rose precipitously. The possible shutdown of important Atlantic Ocean currents added to the sense of nonlinear and disruptive […]


The behinder we got: Heckuva job on energy policy, Dick!

The behinder we got: Heckuva job on energy policy, Dick! thumbnail

It seems much longer ago than eight years that Dick Cheney was scolding his fellow Americans for demanding higher conservation standards and more alternative and sustainable energy sources. Conservation, the vice president imperiously told us, was merely “a sign of personal virtue,” not a basis for a “sound” national policy. Any attempt to curtail the […]


Ample evidence Florida’s feeling effects of climate change

Ample evidence Florida’s feeling effects of climate change thumbnail

Maybe the fish are on to something. Don Hammond, who catches, tags and releases dolphin-fish (also known as mahi-mahi), says those Florida natives are being hooked in some unusual places. Like Massachusetts and Canada. …Michael Fogarty heads the U.S. Global Ocean Ecosystem Dynamics Program with the National Marine Fisheries Program. His team of scientists has […]


Peak oil theory appears irrelevant

Peak oil theory appears irrelevant thumbnail

AMIDST global economic gloom, interesting news is pouring in Crude markets are under pressure, yet Saudi Aramco is moving ahead with investments of about $60 billion on oil and gas projects through 2014. Plans have reportedly been laid out for 144 projects until 2014, including eight giant ones. And Riyadh is investing in additional reserve


March auto sales faring no better

March auto sales faring no better thumbnail

Car sales are down about 40% so far this month, according to J.D. Power and Associates. NEW YORK (CNNMoney.com) — Auto sales in the first two weeks of March were down 40% compared to the same period last year, according to industry analysts at J.D. Power and Associates. Over the entire month, car dealers are […]


Farmers Face Growing Climate Change Dilemma: Scientist

Farmers Face Growing Climate Change Dilemma: Scientist thumbnail

Farmers of the future will have to use cattle and sheep that belch less methane, crops that emit far less planet-warming nitrous oxide and become experts in reporting their greenhouse gas emissions to the government. Agriculture is a major source of greenhouse gases and globally that share will rise as demand for food from growing […]


Tesla Unveils Four-Door Electric Sedan

Tesla Unveils Four-Door Electric Sedan thumbnail

Electric car start-up Tesla Motors Inc unveiled its newest, cheapest vehicle on Thursday, a four-door sedan that can carry five adults and could travel up to 300 miles per charge. The Model S will cost $49,900, after a U.S. government tax credit of $7,500, Tesla Chief Executive Elon Musk said at the car’s unveiling. It […]


Tunisia: Country to Export Green Energy to Europe

Tunisia: Country to Export Green Energy to Europe thumbnail

Private operators will soon be able to export 200 MW of green energy to Europe through the underwater electric connexion set up between Tunisia and Italy, within the ELMED project. < The project with a total capacity of 1000 MW will help Italy ensure its energetic security, as well as integrating Tunisia within the European […]


S-K: The road to consumerizing renewable

S-K: The road to consumerizing renewable thumbnail

The following is the 15th in a series of articles focusing on the Korean government’s “green growth” strategy. The series will also introduce the increasing efforts of major advanced countries of the world to promote a green economy. – Ed. On Aug. 15, 2008, President Lee Myung-bak proclaimed “low carbon green growth” as a new […]


Oil scarcity will spell end of globalisation: Report

Oil scarcity will spell end of globalisation: Report thumbnail

TORONTO: The world may no longer be flat very soon. Contrary to what Thomas Friedman said told us after his analysis of globalisation, the world will indeed become a ‘whole lot smaller” very soon, if a top Canadian economist is to be believed.Jeff Rubin, who quit as chief economist of Canadian Imperial Bank of Commerce […]


China says industrial profits down 37 percent

China says industrial profits down 37 percent thumbnail

Profits at China’s oil producers, steel makers and other major industrial companies fell sharply in January and February as sales were battered by the global economic crisis, data showed Friday. The data highlighted the impact of China’s downturn on even its biggest companies despite a multibillion-dollar government stimulus plan.Hardest-hit were producers of aluminum and other […]


UN offers aid for Bolivia to exploit uranium

UN offers aid for Bolivia to exploit uranium thumbnail

The United Nations announced on Friday its disposition to cooperate with Bolivia on the exploration and exploitation of uranium mines. The official in charge of the UN atomic energy program, Mohamed El-Baradei, said after a meeting with Bolivian President Evo Morales that apart from the exploration of uranium mines, the Bolivian government is also evaluating […]


France seals African uranium deals

France seals African uranium deals thumbnail

Nicolas Sarkozy, the French president, has returned home after a two-day trip to Central and West Africa during which he signed uranium-mining deals. With renewed global interest in nuclear power, France is eager to secure and develop its supply of uranium.Areva, France’s state-controlled nuclear-energy company, signed a deal to develop uranium mining in Niger during […]


Mexico eyes tracking stock for state’s Pemex – sources

Mexico eyes tracking stock for state’s Pemex – sources thumbnail

MEXICO CITY (Reuters) – Mexico is studying the creation of a special class of shares for state oil company Pemex that would trade on the local stock market, according to two people who have seen a government presentation on the subject. They declined to be identified because they were not authorized to discuss the matter. […]


China Coal Energy Suspends $2.5 Billion Project on Weak Demand

China Coal Energy Suspends $2.5 Billion Project on Weak Demand thumbnail

(Bloomberg) — China Coal Energy Co., the nation The coal price at Qinhuangdao port, a domestic benchmark, has slumped 31 percent from July


Canadian Oil Exports to US Drop

Canadian Oil Exports to US Drop thumbnail

Canadian crude oil exports to the US have declined due to lower world oil prices, a severe winter and synthetic crude processor maintenance, industry sources said on Wednesday. One trader said that crude oil exports could drop as much as 300,000 barrels per day by the end of spring, or about 15% of total crude […]


OPEC March oil output still above target-Petrologistics

OPEC March oil output still above target-Petrologistics thumbnail

LONDON (Reuters) – OPEC’s oil output in March is expected to average around 1 million barrels per day (bpd) above its target as Iran and some other members pump above agreed levels, an industry consultant said on Friday. Output from the 11 OPEC members with production targets is expected to average 25.9 million bpd, compared […]


Social critic James Kunstler offers a decidedly darker view

Social critic James Kunstler offers a decidedly darker view thumbnail

ASPEN


Falling oil prices bring fear of supply shock: CERA

Falling oil prices bring fear of supply shock: CERA thumbnail

NEW YORK (MarketWatch) — The collapse in oil prices and reductions in production investment could cut the growth in oil supply by nearly eight million barrels a day in the next five years, according to a report released on Friday by Cambridge Energy Research Associates. About 7.6 million barrels per day out of total potential […]


Mexico’s February oil export revenues fall 56.4% year on year

Mexico’s February oil export revenues fall 56.4% year on year thumbnail

Mexico City (Platts) – Mexico’s February oil sales revenue plunged 56.4% year on year to $1.66 billion, the National Statistics Institute, or Inegi, reported Wednesday. Despite the oil sales plunge, the country’s trade deficit fell more than half to $491 million in February 2009, compared with $1.081 billion in February 2008. Total exports were $16.12 […]


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@PaulGambles2 @CNBCJou @JMJancovici To be clear, not asking for predictions, but a hedge vs #peakoil. Fair bet policy makers are behind & will be overwhelmed. #antifragile

@PaulGambles2 @CNBCJou Cruel irony is, #peakoil may kick in after it's too late to prevent #climatechange. double whammy/hysteresis. @JMJancovici

It's going to come crashing down when #PeakOil, starts hitting the fan. Life as we're living it is unsustainable, fool's paradise! twitter.com/KieranSuckling…