Posts in October 2007
Ex-CIA Chief Wants Energy Independence
Former CIA Director, James Woolsey has told a biofuels conference that it is in the U.S.’s national security interest to continue developing transportation fuel derived from agricultural products because the country has become dangerously dependent on foreign oil. Woolsey said the US needs to significantly reduce its reliance on foreign oil. “The people who produce…
Continue reading ‘Ex-CIA Chief Wants Energy Independence’.UK Claims Rights to One Million Sq Km of Antartica
Just as the race to claim the resource spoils of the Arctic is heating up, so too now it seems is the race for the Antarctic. The UK is planning to claim sovereign rights over a vast area of the remote seabed off Antarctica. The submission to the United Nations covers more than 1m sq…
Continue reading ‘UK Claims Rights to One Million Sq Km of Antartica’.Ecaudor Bans Drilling in Yasuni
The Reuters news agency is reporting that Ecuador has confirmed it will not allow oil drilling inside part of the Yasuni rainforest. The move could hurt the operations of China’s Andes Petroleum, Spain’s Repsol, and Brazil’s Petrobras who manage oil fields partially inside the area. “We are not going to allow oil exploitation in this…
Continue reading ‘Ecaudor Bans Drilling in Yasuni’.Eni and Libya Plan $28 Billion Investment in Oil and Gas
Eni SpA, Italy’s largest oil company, plans to jointly invest $28 billion with Libya to expand crude and natural-gas production in the North African country. The 10-year spending program will be evenly split between Eni and Libya’s state-run National Oil Corp. Rome-based Eni said it also agreed to extend existing supply contracts to receive oil…
Continue reading ‘Eni and Libya Plan $28 Billion Investment in Oil and Gas’.$20 Trillion to Meet Oil and Gas Demand
The oil and gas industry will need as much as $21.4 trillion in capital expenditures between now and 2030 to meet sharply growing global demand for hydrocarbons forecast by experts, according to analysts. Larry G. Chorn, the chief economist for Platts, which provides energy and commodities information, argues capital spending is likely to exceed $1…
Continue reading ‘$20 Trillion to Meet Oil and Gas Demand’.Inquiry Urged on Hunt Oil Contract in Iraq
The Democrats have moved toward investigating Hunt Oil’s oil exploration contract in Iraq, saying the company’s ties to President Bush raised questions about whether it had insider information that helped it reach the deal. U.S. Rep. Henry Waxman, chairman of the House Oversight and Government Reform Committee, and U.S. Rep. Dennis Kucinich, D-Ohio, asked Hunt…
Continue reading ‘Inquiry Urged on Hunt Oil Contract in Iraq’.Lula Promotes Biofuels in Africa
Brazilian President Luiz Ignacio Lula da Silva has urged African countries to take up the use of biofuels as a way of improving their economic independence. He is starting a four-nation tour of Africa, offering help from Brazil in developing biofuel technology. This is the latest stage in an intensive global effort by President Lula…
Continue reading ‘Lula Promotes Biofuels in Africa’.Iraq: NYT Calls for Transparent and Accountable Oil Law
As the government of Iraqi Kurdistan reiterates that the oil deals it has signed with foreign companies this year are legal and says most of the returns would be shared with the rest of Iraq, the New York Times wades into the debate with an interesting Op-Ed. The Times says: “The quickening pace of oil…
Continue reading ‘Iraq: NYT Calls for Transparent and Accountable Oil Law’.Climate Sceptics to Send Own Film to British Schools
The fall-out from Al Gore’s winning of the Nobel peace Prize and the High Court Decision continues in the UK. It has emerged that climate skeptics are going to send copies of the controversial and factually-incorrect film The Great Global Warming Swindle, to all secondary schools. The main figure behind the move is Viscount Monckton,…
Continue reading ‘Climate Sceptics to Send Own Film to British Schools’.BP Chief “to Turn Round Oil Giant in Three Years”
Tony Hayward, BP’s baby-faced new CEO, has pledged to turn the oil giant’s fortune around in the next two to three years. Hayward told The Sunday Telegraph over the weekend, that “we have been on the downward spiral for three or four years and it will take us two or three years to come back…
Continue reading ‘BP Chief “to Turn Round Oil Giant in Three Years”’.
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