Posts in May 2007
Oil Demand Set to Increase
US. energy officials are predicting that worldwide demand for oil will continue to grow, but at a slower rate after 2015. Also over the next quarter century oil prices will climb as high as $95 a barrel. By 2030, the share of worldwide energy that comes from oil and refined products will decline to 34…
Continue reading ‘Oil Demand Set to Increase’.Britain’s Warmest Spring Brings out the Butterflies
Still don’t believe in climate change? Well talk to Britain’s butterfly experts who are astounded that at least 11 species of butterfly have made their earliest recorded appearances after Britain’s warmest spring on record. Of Britain’s 59 resident and regular migrant species, 37 have now appeared, and of these, all except one (the orange tip)…
Continue reading ‘Britain’s Warmest Spring Brings out the Butterflies’.Talisman: Era of Cheap Oil Over
Yet another CEO of a major oil company has announced the arrival of peak oil. Jim Buckee, head of Talisman Energy Inc., said in a speech last week that global oil production has peaked and will soon start declining. “I believe we’re already here (at the peak),” Buckee said at the company’s annual meeting in…
Continue reading ‘Talisman: Era of Cheap Oil Over’.Iraq’s VP Opposes Draft Oil Law
Iraq’s Vice President has publicly opposed Iraq’s controversial Oil Law, saying it gives too many concessions to foreign oil companies. “We disagree with the production sharing agreement,” Tariq al-Hashemi told reporters yesterday. “We want foreign oil companies, and we have to lure them into Iraq to learn from their expertise and acquire their technology, but…
Continue reading ‘Iraq’s VP Opposes Draft Oil Law’.Brown Goes Nuclear
He has not even become Prime Minister, but already Gordon Brown is following in the familiar footsteps of his predecessor. Later this week, Britain’s Prime Minister-elect will give the green light to plans for a dramatic renewal of the nuclear power programme that will see the building of up to eight new stations, possibly within…
Continue reading ‘Brown Goes Nuclear’.Oil Rises Above $65 a Barrel
It was a week of record gasoline prices in the US last week, with and things could get worse for America’s thirsty vehicles. Oil prices climbed above $65 a barrel amid concerns that U.S. refiners are not producing enough gasoline to meet peak summer demand. The volatile situation in Nigeria is also keeping the markets…
Continue reading ‘Oil Rises Above $65 a Barrel’.World Bank President Resigns
After two years as President at the World Bank, Paul Wolfowitz, architect of the Iraq war, tendered his resignation on Thursday evening. “I have concluded that it is in the best interests of those whom this institution serves for that mission to be carried forward under new leadership,” writes Wolfowitz in a statement posted on…
Continue reading ‘World Bank President Resigns’.Exxon Still Funding Climate Skeptics
New analysis of the latest ExxonMobil funding reports reveals that in spite of recent public statements to the contrary, the company continues to bankroll organizations that misrepresent the science and urgency of global warming. The research, conducted by Greenpeace’s ExxonSecrets.org project, shows that in 2006, ExxonMobil spent $2.1 million funding dozens of prominent climate-denial organizations….
Continue reading ‘Exxon Still Funding Climate Skeptics’.Defences Against Climate Change ‘Beginning to Fail’
The earth’s ability to soak up carbon dioxide is beginning to fail because of rising temperatures, in a long-feared sign of “positive feedback,” new research reveals today. The study has found that climate change is weakening one of the principal “sinks” absorbing carbon dioxide – the Southern Ocean around Antarctica, which up until now has…
Continue reading ‘Defences Against Climate Change ‘Beginning to Fail’’.Big Oil Grilled By House Anti-Trust Panel
Big Oil went on the defensive this week, being grilled before a House Judiciary Committee antitrust panel. It denied denying accusations that mismanagement and a lack of competition are the reasons behind this spring’s record gasoline prices in the US. Already there have been four record prices this week. The surge has been attributed to…
Continue reading ‘Big Oil Grilled By House Anti-Trust Panel’.
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