News

Unprepared, Uncompensated, and Clueless: Prophets Have Become Historians

PeakOil.com - May 18, 2007 - 7:51am
...Collapse is not in the future; it is happening in this moment, and unequivocally, the overwhelming majority of Americans are unprepared, will be uncompensated or assisted in whatever pain and suffering collapse inflicts on them, and will remain clueless and in denial of it until they have lost everything except their own lives. Allstate Insurance has stopped writing policies in California for fire and earthquake damage. How many more insurance companies will follow suit in every state in the nation?

I do not claim to be an expert on collapse, but I am quite certain that the custodians of empire are. They have engineered collapse over several decades, and will be essentially unscathed by it—if they can control the resultant chaos. I don’t wish to speculate about what form that control will take, but I don’t need to. They are making it abundantly clear that while they are unwilling to do anything to prevent climate chaos, the devastating consequences of Peak Oil, and economic Armageddon, they are formulating elaborate plans to control and contain an unruly and traumatized population.

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More oil firms move into costly oil sands

PeakOil.com - May 18, 2007 - 7:49am
More oil firms are joining the rush to tap oil from sands in Canada's Alberta province, a costly process that may secure future output but needs higher oil prices to make money.

The moves into oil sands offer access to oil reserves that rival those of Saudi Arabia and lie outside the volatile Middle East. But Statoil's deal looks expensive and the rewards lie far in the future, analysts say.

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Inspired by Ancient Amazonians, Converting Trash into Environmental Treasure

PeakOil.com - May 18, 2007 - 7:45am
When Desmond Radlein heard about Richard Branson and Al Gore's Virgin Earth Challenge, a contest in which the first person who can sequester one billion tons of carbon dioxide a year wins $25 million, he got out his pencil and began figuring whether or not his company was up to the task.

Radlein is on the board of directors at Dynamotive Energy Systems, an energy solutions provider based in Vancouver, British Columbia, that is one of several companies pioneering the use of pyrolysis, a process in which biomass is burned at a high temperature in the absence of oxygen. The process yields both a charcoal by-product that can be used as a fertilizer, and bio-oil, which is a mix of oxygenated hydrocarbons that can be used to generate heat or electricity.

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Small cars promise big business in India

PeakOil.com - May 18, 2007 - 7:43am
Encouraged by India's fast-growing small-car market - it already accounts for 75% of the 1.5 million auto market in that country - a slew of global auto makers have announced plans to make and launch small cars in the South Asian country.

So far Japan's Suzuki, Korean Hyundai and India's Tata Motors have dominated the hatchback segment of the small-car market with their Maruti 800, Santro, Wagon-R, Indica and Swift.

However, the market is going to be really crowded now.

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Britain to Set Out Radical Energy, Planning Revamp

PeakOil.com - May 18, 2007 - 7:39am
Britain will next week set out plans for a major policy revamp to secure energy supplies and fight global warming, calling for new nuclear power plants and also giving business and individuals vital roles.

The government will vow to rip up red tape delaying major infrastructure projects like roads, airports and power stations and promote a mix of low carbon technologies and energy sources.

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Australia: Climate threat in military's sights

PeakOil.com - May 18, 2007 - 7:33am
THE Australian Defence Force has identified climate change as a national security threat for the first time, as it predicted the military would become more involved in stabilising failing states than fighting conventional wars.

Outlining its vision for the future of the armed services to 2030, the force has also foreshadowed an era where crises flare more suddenly while its adversaries, including terrorists and insurgents, become more cunning and capable.

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Can America's masses get charged on electric cars?

PeakOil.com - May 18, 2007 - 7:32am

SANTA ROSA, California (Reuters) - The ZAP Xebra is a three-wheeler running on basic batteries, silent and easy to maneuver. It is more than a golf cart and less than a compact car and costs just under $10,000.

"They are cute in their own ugly way. They are the VW of the electric cars. They are the car of the people," said ZAP CEO Steve Schneider said, pointing to a Xebra fleet painted in Kiwi Green, Lipstick Red or Zebra Flash (with stripes).

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The Oil Drum: This Week in Petroleum

PeakOil.com - May 18, 2007 - 7:28am

If you follow the petroleum markets, or you just want to know what is going on in the world of energy, the weekly reports from the Energy Information Administration (EIA) are invaluable. Every Wednesday the EIA releases reports detailing information on petroleum and product inventory levels, imports, prices, refinery utilization, etc. For those who follow this information, the recent run-up in gasoline prices is not a surprise, as you would have seen it coming. The price increase is not driven – as certain politicians and consumer groups have indicated – by a renewed willingness on the part of oil companies to gouge consumers.

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How to do nothing about global warming

PeakOil.com - May 18, 2007 - 7:27am

Confronted with soaring gasoline prices, a Congress growing more restless by the day about oil dependency and a Supreme Court demanding executive action on global-warming emissions, President George W. Bush stepped before the cameras in the Rose Garden the other day and said, essentially, nothing.

He announced that he had ordered four federal agencies to "work together" to devise regulations reducing greenhouse gases. He also renewed his call for greater investments in alternative fuels. But neither he nor the cadre of designated briefers who followed him provided any detail, so nobody knows whether he will in fact end up asking for more efficient cars or what sort of alternative fuels he has in mind or, more broadly, what sort of reduction in greenhouse-gas emissions he hopes to achieve.

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Embracing a World of Peak Oil

PeakOil.com - May 18, 2007 - 6:36am
The latest round of "who's to blame" for the record gasoline prices has Congress fixing the crosshairs on big oil companies. Yet amid the fingers pointing in every direction we seem to miss the big picture--peak oil has descended.

There's always a ladder of blame.

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Lingering gas pains

PeakOil.com - May 18, 2007 - 6:26am
A new study released the other day seems to confirm what Niagara drivers already know: they're getting gouged at the gas pumps.

The Canadian Centre for Policy Alternatives (CCPA) said it examined gasoline prices before and after Hurricane Katrina in the fall of 2005, and found that the rules of the game for pricing gas at the pumps had changed overnight.

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Bangladesh says must up power output or face blackouts

PeakOil.com - May 18, 2007 - 6:18am
DHAKA (Reuters) - Bangladesh could face nationwide blackouts within four years if it fails to find more natural gas to fuel new power plants, a government official said on Friday.

Frequent power failures due to a daily power shortfall of nearly 1,500 megawatts (MW) cut the country's gross domestic product by around $1.0 billion annually, the World Bank says, and gas reserves are running down quickly as demand multiplies.

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A cracking trade

PeakOil.com - May 18, 2007 - 6:15am

Oil refineries are cashing in after years of lacklustre profits

THIS week average petrol (gasoline) prices in America reached a new record of $3.10 a gallon, according to the Department of Energy. Drivers are up in arms and politicians are getting twitchy. Congress is even considering legislation against price-gouging. The culprit is not the oil price, which has hovered above $60 a barrel for months, well below last year's record of $78. Instead the squeeze comes from a shortage of refining capacity. The difference between the price of the crude oil refineries buy, and that of the petrol they sell, has risen above $30 per barrel—a record for this time of year. Refining, long a marginal business, is becoming lucrative.

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State enjoys solo ride on gas

PeakOil.com - May 18, 2007 - 6:02am
As gasoline costs go up across the nation, an expected tax cut could lower them in Hawaii

The mainland average price for gasoline has set a new record almost daily, but Hawaii's statewide average of $3.38 a gallon is well below the post-Hurricane Katrina record of $3.68.

While some are forecasting even higher prices on the mainland, Hawaii's prices are expected to come down if Gov. Linda Lingle signs a bill restoring a general excise tax exemption on ethanol-blended fuel. Lingle has supported the GET forgiveness in the past.

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Green building expo highlights fossil fuel

PeakOil.com - May 18, 2007 - 5:43am
EVER wonder how much fossil fuel your garden consumes? Probably not, but in this day of rising energy costs there's talk about whether truly "sustainable" landscaping can be achieved without oil-based products.

It's a provocative idea that landscape architect Owen Dell, an expert on sustainable landscapes, will discuss at Saturday's fourth annual Alternative Building Materials & Design Expo (Altbuild), at Barker Hangar at Santa Monica Air Center. He is founder of Fossil-Free Landscaping in Santa Barbara, thought to be the first working garden group to explore author and oil expert Richard Heinberg's notion that "if you can't do it without fossil fuel, by definition, it ain't sustainable."

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Our big secret: oil shale reserves

PeakOil.com - May 18, 2007 - 5:25am
The United States of America has about 70 percent of the world's known oil shale reserves in the western states of the lower 48. These reserves contain approximately 1 to 2 trillion barrels of oil. This is about 4 to 8 times the current oil reserves of Saudi Arabia. If this country commits itself to performing a crash development of this reserve, we could eliminate our dependence on foreign petroleum sources and most of its geopolitical consequences. As world petroleum supplies become depleted in the next few decades, we may find that the United States will have become the world’s most important supplier of synthetic crude petroleum and its products.
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U.S. Near Tipping Point in Corn-Based Ethanol

PeakOil.com - May 18, 2007 - 5:21am
A major new study finds the United States is near the tipping point when it comes to corn-based ethanol production. The study, conducted by the Center for Agricultural and Rural Development at Iowa State University (ISU), finds that U.S. retail food prices already have increased $14 billion annually. They could climb $20 billion annually if crude oil prices reach $65 to $70 per barrel and U.S. corn prices reach $4.42 per bushel, compared to $2 per bushel in mid-August 2006. At that crude oil price range, U.S. ethanol production could reach 30 billion gallons by 2012, consuming more than half of U.S. corn, wheat and coarse grains, and triggering higher meat and poultry prices for consumers, reduced meat and poultry production, and significant reductions in grain and meat exports.
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Can Caspian oil flow to the West?

PeakOil.com - May 18, 2007 - 5:17am
On the 12th of May, the informal Eurasian Energy Six-nation Summit was concluded in the southern city of Poland Krakow. President of Poland, Ukraine, Lithuania, Georgia and Azerbaijan and Deputy Kazakhstan Minister Energy and Natural Resources attended the summit. Afterward the six countries issued a joint, hoping that they can strengthen cooperation with each other in the field of energy and set up joint ventures to handle the organization and preparatory work for the construction of the oil pipeline connecting Odessa and Brody.
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Venezuela oil export revenues fall sharply in first quarter, central bank says

PeakOil.com - May 18, 2007 - 5:15am
Venezuela's revenues from crude exports by the state oil company fell 10 percent in the first three months of this year amid lower prices, OPEC-mandated production cuts and reports of falling production at the South American country. Central Bank figures released this week showed the value of crude exports by Venezuela's state oil company fell in the January to March quarter 10.9 percent to US$10.7 billion (€7.9 billion) compared to the same period last year. Exports from privately run oil projects dropped 24.4 percent to US$1.8 billion (€1.3 billion).
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Militants free oil worker

PeakOil.com - May 18, 2007 - 5:13am
Nigerian militants freed a Belarusian oil worker, the Belapan news wire service reported on Thursday. Irina Ekpo-Umo, aged 48, was being treated for a leg injury at an unidentified Niger Delta hospital, but was expected to recover fully, co-workers said. Gunman kidnapped Ekpo-Umo as she was driving home from work on May 5 in the coastal city Port Harcourt, in the heart of Nigeria's oil-producing region.
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