News from January 2012

Kunstler: Jive Talkin

Well, he had to get up there and say something. In this particular winter of our discontent, the wispiest nostrums and baldest lies will do. America is not interested in reality. America is a nine-hundred pound man imprisoned in a fetid trailer bedroom begging for one more case of Little Debbie Cocoa Cremes before the [...]

World lacks enough food, fuel as population soars

The world is running out of time to make sure there is enough food, water and energy to meet the needs of a rapidly growing population and to avoid sending up to 3 billion people into poverty, a U.N. report warned on Monday. As the world’s population looks set to grow to nearly 9 billion [...]

The Future of India, the Fate of China

India and China are two giant Asian neighbors which are increasingly dominating global trade and economies. These two countries have each engineered extraordinary social and economic advancements over the past two decades. However, owing to cultural and other factors, India and China are following dramatically different trajectories in their paths to prosperity. For one thing, [...]

Does Cheaper Natural Gas Mean Cheaper Electricity?

Other factors — including high capacity prices and congestion — could offset any savings For the fourth consecutive year, falling natural gas prices may lower the cost of the electricity delivered to most of the state’s businesses and residents, beginning in June. At least that is the conventional wisdom, when the state Board of Public [...]

EU Sees No Need to Regulate Shale Gas

There is no need for new legislation to regulate shale gas exploration in the European Union, according to a study published Friday that proposed the bloc adopt a low profile on the controversial issue. The study, carried out by a consultant and authorized by the European Commission, the EU’s executive body, says that existing legislation [...]

UK Refinery Closure Stirs Fuel Shortage Fears

Nearly 1,000 jobs are at risk after one of the UK’s largest oil refineries announced it would halt supplies, as its Swiss owner prepares to file for insolvency. The Coryton refinery in Essex halted sales on Monday after negotiations with lenders broke down and credit lines were suspended, leading to a default on $1.75bn (£1.12bn) [...]

Iran to stop oil exports to “some” countries soon

Iran’s oil minister said on Sunday the Islamic state would soon stop exporting crude to “some” countries, the state news agency IRNA reported. “Soon we will cut exporting oil to some countries,” Rostam Qasemi was quoted by IRNA as saying. Benchmark Brent crude prices rose to around $111.50 a barrel on Friday on expectations Iran’s [...]

Peak Oil: Yes, Still a Serious Issue

The director of the U.S. Geological Survey (USGS) will be delivering a lecture titled “U.S. Energy Outlook: Whatever Happened to ‘Peak Oil’” at Indiana University on February 6. The description of the lecture provides some background: “Not long ago, the public heard much concern that the nation and the globe had reached or was about [...]

Oil sands brace for higher costs

For oil sands companies, the pinch is on. Or at least, it’s starting. After several years of recovering from the beating they took at the hands of plunging crude prices and collapsed credit, the swarm of energy producers spending billions of dollars on the oil sands are at the cusp of a familiar problem: soaring [...]

Iran says oil may hit $150/bbl on EU ban

Oil prices could rise as high as $150 a barrel because of the European Union ban on imports of Iranian crude, the country’s deputy oil minister was quoted as saying by the official IRNA news agency on Sunday. “Although a precise prediction cannot be made on oil prices, it seems we will witness a $120 [...]

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