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Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.

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Melting Himalayan glaciers set alarm bells ringing
Enviromental Headlines; Climate ChangeMelting of Himalayan glaciers fills seven of the mightiest rivers of Asia.

Various studies suggest that the warming in the Himalayas has been greater than the global average due to which a number of ice packed glaciers are melting or getting displaced from their origin along with reports of glacier sliding due to which the unfamiliar changes are under spotlights in the areas including Northern Areas of Pakistan.

Posted by waegari on Sunday, July 20 @ 01:16:26 PDT (46 reads)
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Channel 4 to be censured over controversial climate film
Enviromental Headlines; Climate ChangeChannel 4 misrepresented some of the world's leading climate scientists in a controversial documentary that claimed global warming was a conspiracy and a fraud, the UK's media regulator will rule next week.

In a long-awaited judgment following a 15-month inquiry, Ofcom is expected to censure the network over its treatment of some scientists in the programme, The Great Global Warming Swindle, which sparked outcry from environmentalists.

Posted by waegari on Sunday, July 20 @ 01:13:27 PDT (38 reads)
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Coal carves a place in the future of global energy
Enviromental Headlines; Climate Change The worldwide demand for oil has its own set of environmental consequences -- drilling in pristine areas where it previously was uneconomical and continued emission of greenhouse gases. But environmentalists warn that renewed reliance on coal takes the threat to another level.

"Growing coal use threatens nothing less than the end of civilization as we know it," said Henry Henderson, the Chicago-based Midwest director of the Natural Resources Defense Council.

Posted by waegari on Sunday, July 20 @ 01:09:37 PDT (25 reads)
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Thirst for oil turns sanctuary into battleground
Public Policy; Political and Legal NewsAt the start of this decade, more than two-thirds of Americans routinely told pollsters the environment should win priority over the economy. Now, even after Al Gore shared a Nobel Prize for his telling of “An Inconvenient Truth,” just half rank green over greenbacks.

A Gallup Poll in May found that 57 percent of Americans favor “drilling in U.S. coastal and wilderness areas,” although it didn’t specifically ask about ANWR. (Alaskans, who see an immediate payoff to their economy from drilling in taxes and jobs, overwhelmingly support tapping into the refuge.)

Posted by waegari on Sunday, July 20 @ 01:04:56 PDT (24 reads)
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Oil shale: Rush and risk bust
Production; Extraction; ExplorationBush and his fellow oil shale boosters claim that if only Western communities would stand aside, energy companies could begin extracting more than 500 billion barrels of recoverable oil from domestic shale deposits. If only the federal government immediately offered even more public lands for development, the technology to extract oil from rock would suddenly ripen, oil supplies would rise and gas prices would fall.

If only.

Posted by waegari on Sunday, July 20 @ 00:58:51 PDT (31 reads)
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Even oilmen believe our planet is burning up
Consumption; Demand; Pricessays Full Monty writer behind terrifying TV drama

As a scriptwriter, I have met lots of powerful people, but my reaction is always the same. When I went to the Oscars, I sat next to a pleasant, elegant woman and chatted happily to her until somebody pointed out it was Claudia Schiffer. After that, I could not utter another word.

But today it isn't because I am star-struck that I am terrified; it is because the oil man is telling me the opposite of everything he should say. Over the tinkle of teacups, he is predicting the end of civilisation.

Posted by waegari on Sunday, July 20 @ 00:56:05 PDT (64 reads)
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Funding for clean energy in China
Hydrocarbon AlternativesThe United Nations Environment Programme official predicted a strong and fast growth of clean energy investment in China, with fund flows favoring the wind and solar sectors.

"China has a huge potential in market demand and in recourses, prerequisites of the rising inflow of international investment," said Zhang Shigang, coordinator of UNEP China office at the launching ceremony of the Global Trends in Substantial Energy Investment 2008.

Posted by waegari on Sunday, July 20 @ 00:41:08 PDT (17 reads)
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Iraqis hope solar-powered lights will make Baghdad safer
Hydrocarbon AlternativesBAGHDAD — In a city with constant electricity shortages but no lack of sunshine, the new buzz is solar energy.

Teams of engineers have appeared along major Baghdad roadways, bolting panels and bulbs to rows of towering steel poles to make solar-powered streetlights.

Posted by waegari on Sunday, July 20 @ 00:38:18 PDT (23 reads)
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Four killed as supersized crane collapses on oil refinery workers
Production; Extraction; ExplorationMyOldTDiIsStillGoing writes:

Four workers were killed and two others are in hospital today after one of the world's largest cranes collapsed at a U.S. oil refinery.

Five other workers were also hurt when the 300ft crane - capable of lifting a massive 500 tons - toppled in Houston, Texas.

Posted by Leanan on Saturday, July 19 @ 19:54:34 PDT (115 reads)
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How China's taking over Africa and why the West should be VERY worried
Public Policy; Political and Legal News...Reminiscent of the West's imperial push in the 18th and 19th centuries - but on a much more dramatic, determined scale - China's rulers believe Africa can become a 'satellite' state, solving its own problems of over-population and shortage of natural resources at a stroke.

With little fanfare, a staggering 750,000 Chinese have settled in Africa over the past decade. More are on the way.

Posted by Leanan on Saturday, July 19 @ 16:31:45 PDT (420 reads)
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Pakistan: Agri sector faces acute shortage of water
Consumption; Demand; PricesISLAMABAD: Rising petroleum prices would affect the agriculture sector of the country as farmers are dependent on fuel to operate their tube-wells for getting water, which is the basic need for irrigation and growth of crops.

"Due to inadequate canal system, the farmers are dependent on electric and diesel run tube-wells for irrigation but price escalation of oil would have negative impact on their production", Kisan Bachao Tehreek Secretary General Ahmed Noor advocate said.

Posted by Leanan on Saturday, July 19 @ 15:43:00 PDT (132 reads)
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Pickens, Democrats agree in calling for alternative fuels
Public Policy; Political and Legal NewsWASHINGTON – T. Boone Pickens says he's ready to give up partisan politics if it means weaning the country off foreign oil.

Mr. Pickens once gave millions to a group that undermined U.S. Sen. John Kerry's Vietnam War service and offered $1 million to anyone who could prove that the Swift Boat group's charges against the presidential candidate were false.

Posted by Leanan on Saturday, July 19 @ 14:47:49 PDT (199 reads)
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Chief Says Exxon Will Keep Doing What It’s Doing
Business News; Market ResearchOIL prices had their biggest ever drop this week, falling by more than $16 a barrel in the last four days. Still, oil remains at stratospheric levels, settling at $128.88 a barrel on Friday. And with global oil consumption still growing faster than new supplies, there are few remedies. In an interview, Rex W. Tillerson, the chief executive of Exxon Mobil, shared his views on oil prices, the role of Western companies in a world increasingly dominated by state-owned energy giants and the future for alternative fuels in a fossil fuel world.

Q. The debate lately has centered around expanding domestic drilling. But many say this will do nothing to reduce prices now because it takes 10 years before any new production comes online.

Posted by Leanan on Saturday, July 19 @ 13:24:32 PDT (240 reads)
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Peak Oil Happened Already
Public Policy; Political and Legal News

Clifford Wirth, peak oil specialist, thinks we reached peak already; 2007 was the magic year. If you look at the run-up in oil prices in terms of peak oil, it might really make sense.

Peak oil doesn't mean there won't be more oil out there, nor does it mean that we won't continue to use too much of it; it means we will find less additional oil than we use up. But as prices rise, we will economize (probably why prices went "down" this week), i.e. we will use less wherever we can. But peak oil means that what will be discovered will be less than what has been discovered already, that total reserves will dwindle, that what we use will be more than what we find to replace it, and the oil left to extract will cost more and more, like the deep sea oil requiring platforms costing billions of dollars to construct. Or oil extracted from shale and tar sands, extremely expensive and energy intensive just to produce. It's a lot different from the Texas or Arabian oil fields where all you had to do was drill a hole a few hundred feet down and out would come a gusher, oil that would literally cost only a few dollars a barrel to produce.

Posted by coyote on Saturday, July 19 @ 12:06:51 PDT (417 reads)
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Nevada plant to make fuel from garbage
Hydrocarbon Alternatives

In its search for new sources of fuel, the green-tech industry has turned to wood chips, grass, algae - even cow manure.

Now a Pleasanton company plans to make fuel out of garbage.

Posted by coyote on Saturday, July 19 @ 11:56:23 PDT (133 reads)
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Old Articles
Saturday, July 19
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