Encourage House to Include Energy Tax Incentives in FSC/ETI Bill

Dear Electric Drive Advocate: The Senate recently approved the Foreign Sales Corporation/Extraterritorial Income Act (aka the Jump Start Our Business Strength (JOBs) Act – S. 1637) and the House Ways and Means Committee is currently considering its version of the measure. The Senate-passed bill includes tax incentives to assist consumers in purchasing battery electric, hybrid […]

Oil field found in Gansu Province

The oil exploration in Longdong area of Gansu Province makes a big step. A 100-mm-ton class large oil field is found in the northeast of Xifeng City, Gansu Province.
Longdong area is the main producing area of Changqing oil field.

OilandGas.com

New air-quality rules possible for Alyeska

Alyeska is already reorganizing its operations to cope with reduced oil flow through the line, said spokesman Mike Heatwole. That reorganization is likely to include changes at the ballast-water-treatment plant, which is processing less water as oil flow drops, he said.

The peak oil flow of 2 million barrels a day is now down to half that, because major oil fields on the North Slope are mature and in decline.

Forbes.com

A Look at Saudi Arabia Attacks

Gunmen open fire on oil company compounds in Khobar, 250 miles northeast of Riyadh. At least six people, four of them foreigners including a 10-year-old Egyptian child, are believed killed.

NewsDay – AP

Florida, Louisiana Gas Stations Halt Sales of Bad Fuel

Roughly 600 Shell and Texaco gasoline stations in parts of Florida and Louisiana temporarily halted their sales after customers complained the gasoline damaged their fuel gauge sensors, Shell Oil said Friday. “We’ve asked our Shell and affiliated Texaco branded stations that were affected to stop selling gasoline due to elevated levels of sulfur in the […]

Royal Dutch Petroleum Company Annual Report 2003

Capital investment in 2003 = $9.2 billion
Net income in 2003 = $12,496 million
new projects include renewed exploration in Saudi Arabia and Gas to Liquids projects.

Largest project was Athabasca Oil Sands Project in Canada, with a total investment of $4.2 billion.

Full Reports on Shell.com

Cooling China’s economy and red-hot oil prices

The single most important factor for the oil market this year will be the ability of China to cautiously slow its rate of economic growth. Last year, China became the second-largest oil consuming country, surpassing Japan, and has accounted for 40 percent of the world’s oil-demand growth between 2000 and 2004.

Asia Times

Global Instability Helping Push Up Oil Prices

Experts say the current high prices for crude oil and gas are more than just a result of growing demand. The costs involved in shipping oil from politically shaky places like the Middle East and Angola — increased insurance premiums, higher salaries for workers — are also playing a significant role in pushing up prices, experts say.

Audio on NPR

Pacific Research 2004 Enviromental Study

We

500,000 due to strike against high gasoline prices

The Lebanese Army staged a show of force to deter troublemakers Friday. Troops and armored vehicles took up positions in the suburb, and elite soldiers guarded the nearby highway to the airport.

Yahoo |

Daily Star, Lebanon

Hollywood Activist Group TV Ad Targets Cost of Gas

Hollywood activists unveiled a TV ad on Thursday to air over Memorial Day weekend accusing President Bush and the oil industry of robbing Americans at the gas pump.

Reuters on Yahoo | Watch the Ad

America can’t afford to be fuelish

But what we really must do — and do with great gusto — is launch a sustained crusade to drastically improve energy efficiency, reduce reliance on fossil fuels and accelerate development of environmentally friendly alternative energy technologies.

Fort Worth Star Telegram

America’s Gasoline Dangerously Inexpensive

America’s Gasoline Dangerously Inexpensive Oil’s true cost: cheap gas kills the Earth and diminishes society By Dr. Glen Barry May 25, 2004 Gasoline in America is dangerously inexpensive, threatening the ruin of society and the environment. Consumers generally have little idea how much fueling their automobile actually costs, or the impacts it has on national […]

Renewable Energy Targets Derailed in Europe

With existing national policies and measures it is projected that the EU15 will achieve a share of only 18-19% of renewable energies as share of total electricity consumption instead of the 2010 target of 22%.



SolarAccess.com

Toronto Star: We are finally running out of cheap gas

‘Our long-standing addiction to cheap oil has cost us dearly in terms of health, global security, human rights and a changing climate. It has also long stifled investment and innovation in alternative energy sources and technologies. Maybe we should look at expensive gas as an opportunity rather than a crisis.’ Well meaning article from Canada. […]

New refinery unlikely in U.S., oil CEO says

Exxon Mobil Corp. chief executive Lee R. Raymond said widening margins on fuel production as U.S. retail gasoline prices soar above $2 a gallon probably won’t prompt construction of a new refinery in the country.

Denver Post

Saudis ready to pump full tilt if demand calls

“We are seriously, today, looking at the possibility of putting additional capacity and raising our sustained capacity. Our wheels are moving,” Jumah said.

Houston Chronical

Energy officials assess industry challenges

“China’s economy is overheated and there will be a number of corrections, but overall it is very much a growth story,” said Court, now an industry consultant

Oil and Gas Journal

Terrorists are now targeting Saudi Arabia’s oil infrastructure.

several attacks, if co-ordinated by terrorists who have infiltrated Aramco, could cripple the Saudi system…

The Economist

PetroChina makes major oil discovery

PetroChina found 108.2 million tons of proven reserves and another 327 million tons of estimated reserves

International Herald Tribune

The Peak in U.S. Coal Production

scientist Gregson Vaux presents an original study on US coal reserves which indicates that coal is likely behaving almost exactly like Peak Oil. If his analysis is correct, then coal may itself prove to be a short-lived and illusory solution

From the Wilderness

Florida subpoenas 8 oil companies over soaring gas prices

Quote from a telephone interview with Florida Attorney General Charlie Crist:

“The people deserve a reasonable explanation as to why the price of gasoline is so darn high. Enough is enough, frankly. It just keeps going up and up and up.”

Sun-Sentinel

CNN Special: GAS PAINS

includes articles such as:
“U.S.: Mexico to the rescue on oil”
“An oily monkey on our back”
realvideo “Stop whining!”

CNN.com

Iraq and the hidden euro-dollar wars

A New American Century? Iraq and the hidden euro-dollar wars by F. William Engdahl, USA/Germany Despite the apparent swift U.S. military success in Iraq, the U.S. dollar has yet to benefit as safe haven currency. This is an unexpected development, as many currency traders had expected the dollar to strengthen on the news of a […]

Is stormy weather ahead? Matt Simmons presentation

Denial is more than a river in Egypt.

How many people buy snowblowers in the summer time. Get your snowblower now and be prepared.

PDF on simmonsco-intl.com

Oil Price Settles at New High

– The price of oil reached a new high Monday, settling at $41.72 per barrel as traders shrugged off Saudi Arabia’s latest pledge to boost production one week ahead of the busy summer driving season.Light crude oil for July delivery rose $1.79 a barrel, or 4 percent, on the New York Mercantile Exchange, exceeding the […]

‘Inadvertant shutdown’ occurs on Mars oil pipeline in the Gulf of Mexico

The Shell spokeswoman said that the company would not speculate on how the markets might react to the current shut-in or what effect, if any, the incident would have on the White House’s controversial plans to fill the Strategic Petroleum Reserve by mid-2005.

The loss of oil production from Mars, however, could have obvious political implications for plans to refill the SPR because the program, since the administration of former President Bill Clinton, relies on royalty oil from the gulf.

http://ogj.pennnet.com/articles/web_article_display.cfm?ARTICLE_CATEGORY=GenIn&ARTICLE_ID=205205

Drivers Eye Vegetable Oil As Cheap Fuel

(AP) By LAURA WALSH, Associated Press Writer WESTON, Conn. – As the nation grapples with pumped-up gas prices, car owners are turning to their favorite restaurants for a solution: recycled vegetable oil.(AP) By LAURA WALSH, Associated Press Writer WESTON, Conn. – As the nation grapples with pumped-up gas prices, car owners are turning to their […]

China takes steps to start oil reserve

The fact that China isn’t stockpiling yet means its economy is fuelling the market demand – and that once the reserve purchases begin, Chinese oil purchases could grow.

more

Soaring oil prices are music to investors ears

Looking ahead, analysts at Citigroup on Monday said technical charts suggest that light crude oil futures can rise to $44.50 or even $45.00.

more

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