CO2 rise forces energy rethink

Carbon dioxide emissions are rising rapidly in the UK, forcing the government to consider a range of new measures to keep its pledge to combat climate change. Figures from the Department of Trade and Industry yesterday show that rather than falling as planned, carbon dioxide emissions have risen rapidly – by 2.2% in 2003 and […]

Kazakhstan buys 8.3% stake in its Kashagan oilfield Oil Field

Kazakhstan bought a stake in the country’s Kashagan oil field, the second-largest in the world after Saudi Arabia’s Ghawar deposit, as the nation seeks to control the project.

financialexpress.com

Wall Street horrified over peak oil and renames it ‘Super Spike

NEW YORK, March 31 (Reuters) – If oil were to hit $105 per barrel, as suggested by a leading broker, it would spread ruin through the stock market and could spell disaster for everything from airlines to retailers to mining companies, analysts said on Thursday. RPT-Oil super-spike could sink stocks, economy-analysts Thu Mar 31, 2005 […]

ASPO April Newsletter

ASPO’s latest newsletter is availble here(requires Adobe Reader). ASPO April Newsletter ASPO Home Page

Oil Rises, Gasoline Surges to a Record as Fuel Supplies Decline

March 31 (Bloomberg) — Crude oil rose and gasoline and heating-oil surged to records on signs that U.S. refineries lack capacity to make enough fuel and Goldman Sachs Group Inc. analysts predicted that oil could touch $105 a barrel. “Concern is growing that there will barely be enough fuel to meet growing global demand,” said […]

analysts raise specter of draft

With Iraq tying up manpower, two analysts raise specter of draft

By Bob Dart

COX NEWS SERVICE

WASHINGTON – If American forces aren’t pulling out of Iraq in a year, a draft will be needed to meet manpower requirements, military analysts warned yesterday.

LH

The state of the world? It is on the brink of disaster

Planet Earth stands on the cusp of disaster and people should no longer take it for granted that their children and grandchildren will survive in the environmentally degraded world of the 21st century. This is not the doom-laden talk of green activists but the considered opinion of 1,300 leading scientists from 95 countries who will […]

Hydrogen bomb

It’s here! The energy miracle of the millennium, an amazing technological advance that will transform the way we live and the way the world works. When there is no more oil and all the gas is gone, we will get our power from press releases issued by government, oil companies and carmakers — the Press […]

Gas costs change lifestyles

Today’s gas prices may not be wrecking the economy or even prompting dramatic changes in driving habits. But public transit agencies in Chicago, Columbus, Denver, Jacksonville, Miami and New York all report increases in ridership and say gas prices may be part of the reason. A Gallup Poll taken this month also found that concerns […]

Goldman Sachs: Oil Could Spike to $105

Reuters via MSN Moneycentral LONDON (Reuters) – Oil markets have entered a “super-spike” period that could see 1970’s-style price surges as high as $105 a barrel, investment bank Goldman Sachs said in a research report. Goldman’s Global Investment Research note also raised the bank’s 2005 and 2006 New York Mercantile Exchange crude price forecasts to […]

Plenty of options to paying for gasoline

The Citizen, Auburn NY By Paul N. Luziani As everyone knows, the price of gasoline has gone from laughable to ridiculous and will soon whiz by outrageous. Big Oil executives, however, need not worry about pricing themselves out of existence any time soon. Where else would we go? Where’s the competition? But the use of […]

In Renewable Energy Portfolios, Biomass is #1, US Govt Confirms

IGreen Energy Resources (nasdaq otc.GRGR.pk) citing the US Energy Information Agency, (EIA) confirms biomass is the number one renewable energy in the world. Wood biomass comprises 48% of all current renewable energy and is the 4th largest energy after oil, gas, and coal. The total biomass available in the US is 2,740 quads or 29 […]

Norway Predicts Continued High Oil Prices

Oil prices are likely to remain high, and there is nothing Norway can do to increase supplies because the nation’s offshore fields are already producing at full capacity, oil minister Thorhild Widvey said Thursday. “I think oil prices will remain high,” she said at a briefing for Oslo-based foreign correspondents. “How high I don’t know.” […]

Oil prices rally with Nigeria strike appearing likely

World oil prices have rebounded as supply worries resurfaced ahead of a likely strike by energy workers in Nigeria, Africa’s biggest exporter of crude. … supply fears re-emerged after Nigerian oil unions said the same day that it would take a miracle to avert a nationwide strike after talks with government and energy majors on […]

Crude Oil Prices Perk Up

Oil prices were moving steadily higher Thursday, spurred on by a Goldman Sachs research note that said a $100-barrel isn’t out of the realm of reason.The Street

High Fuel Prices Hitting City Emergency Vehicle Fleets

WRAL RALEIGH, N.C. — With gas prices spiking recently, commuters aren’t the only ones feeling the crunch. As prices top out at over $2 a gallon, it costs around 90 bucks to fill up an ambulance. Many government agencies are finding their fuel budgets are almost running on empty. The Raleigh fire department’s burning through […]

Shell pumps twice as much as it finds

CNN Money But similar to industry trend where private oil companies can’t locate large future reserves. LONDON (Reuters) – Oil major Royal Dutch/Shell replaced less than half the oil it pumped last year with new finds, according to revised reserves figures published Thursday. Shell said its proved reserves stood at 11.9 billion barrels of oil […]

Oily Warning

Guardian UK International regulators meet in London today to mull over safety and other issues in the oil and gas industry. Their forum could not come at a more appropriate time given last week’s BP refinery explosion in Texas and a warning to the same company last weekend from Alaskan safety authorities.The reason for the […]

China’s demand for oil causes worries worldwide

Sun Herald News BEIJING – (KRT) – What is China’s greatest economic challenge? “Energy supply. Especially oil supply,” said Huang Fanzhang, vice chairman of the China Reform Forum. Huang is a respected Chinese economist who writes reform proposals for the People’s Congress. We’d talked of many problems, but he chose oil as the most critical. […]

German Joblessness Rises to 12%; French Rate at 10.1%

Bloomberg March 31 (Bloomberg) — Unemployment in Germany rose to a postwar record of 12 percent and France’s jobless rate held at a five-year high, threatening prospects for economic growth in the dozen nations sharing the euro. … With oil prices 63 percent higher than a year ago, the European Commission may also lower its […]

Japan’s February industrial production falls 2.1%

Financial Express MARCH 30: Japan’s industrial production had the biggest drop in a year in February, led by electronic parts and machinery, adding to signs that a recovery in the world’s second– biggest economy may stall. … Rising interest rates and gasoline prices are leaving consumers in the US, the biggest market for Japanese exporters, […]

Thailand’s Production Falls for First Time in More Than 3 Years

Bloomberg March 31 (Bloomberg) — Thailand’s factory production fell for the first time in more than three years in February as rising fuel prices and falling overseas demand cut production of automobiles and electronics parts. Manufacturing output dropped 1.6 percent from a year earlier compared with a 3.2 percent gain in January, the Bank of […]

COLLAPSE? Exhibition Media Preview

Press Release via Yahoo! Major Exhibition Inspired by the Ideas in Jared Diamond’s Latest Bestseller Collapse: How Societies Choose to Fail or Succeed Pulitzer Prize-Winning Author Dr. Jared Diamond Scheduled to Appear Members of the media are invited to attend an exclusive preview of COLLAPSE? the major exhibition inspired by the ideas in Jared Diamond’s […]

Back to the future

A Heinberg article

Oil has been the cheapest and most convenient energy resource ever discovered by humans. During the past two centuries people in industrial nations accustomed themselves to a regime in which more fossil-fuel energy was available each year. The global population grew quickly to take advantage of this energy windfall. Industrial nations also came to rely on an economic system built on the assumption that growth is normal and necessary, and that it can go on for ever. When global oil production peaks, as it will in the next few years, that assumption will come crashing down

EB.net

Declining US gasoline stockpiles drives prices higher

Gasoline demand is up, but stock levels are similar to year-ago levels, despite crude oil stocks being at their highest levels for almost three years.

The Organisation of the Petroleum Exporting Countries (Opec) increased oil supplies by 500,000 barrels a day to 27.5 million barrels in mid-March.

But its president, Sheikh Ahmad al-Fahd al-Sabah, said last week he did not think further increases were needed before the third quarter.

BBC News

Philippines conserve energy by switching temporary to 4-day workweek

Government offices in the Philippines are to work a four-day week for the next two months to reduce energy costs and help its flagging economy.
President Gloria Arroyo said the move was “imperative” because of soaring oil prices and a worsening fiscal position.

Inflation is running at 8.5%, jobless levels are above 11% and the budget deficit has widened to 4% of GDP.

The order will apply to all staff working in government departments as well as state-owned corporations

BBC News

Shoulder Shock: The New Rite of Spring

Wednesday March 30, 3:01 pm ET Recent statements by OPEC officials reveal a situation that investors, consumers, and the news media have yet to fully appreciate: The Organization of the Petroleum Exporting Countries has lost control over the price of oil. Yahoo!Ironically, during the era of Arab oil embargoes in the 1970s, this would have […]

High Gas Price Cartoons

ChevronTexaco Developing Distributed Production of Hydrogen

For the second year in a row, ChevronTexaco Technology Ventures, a ChevronTexaco (NYSE: CVX – News) subsidiary, presented a paper based on proprietary research and development on new and better ways to increase the efficiency and reduce the cost and complexity of hydrogen generation for distributed energy stations. The paper on advanced steam methane reforming […]

GM, U.S. to develop fuel cell vehicles

General Motors Corp. and the U.S. Energy Department have signed a five-year, $88 million deal to build a fleet of 40 hydrogen fuel vehicles, the automaker said Wednesday. Under the program, GM will spend $44 million on fuel cell vehicle demonstration fleets in Washington, New York, California and Michigan. The Energy Department will also provide […]

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LATEST NEWS HEADLINES

• Is It Time To Abandon the Idea of Phasing Out Oil and Gas?
• More than 20% of global refining capacity at risk of closure
• Charles Hugh Smith Blog: Fire, Then Ice Our Deflationary Future
• Saudi Aramco CEO Amin Nasser says energy transition strategy ‘visibly failing’
• 100 million-degree ‘artificial sun’ sets new records in hunt for energy’s ‘Holy Grail’

• China’s peak oil demand bombshell eviscerates Danielle Smith’s energy strategy
• US seeks to buy up to 3 million bbls of oil for Strategic Petroleum Reserve
• Desertification: the world is losing healthy land at an astonishing rate
• US oil production will keep booming in 2024, setting up a possible showdown with Saudi Arabia
• Saudi Arabia piles pressure on UAE to shift COP28 focus away from oil and gas
• US Warship, Commercial Ships Under Attack In Red Sea