IEA expects world oil prices to decline further
Crude oil prices declined to below the $47 per barrel mark today on expectations of continued rise in the US oil and natural gas inventories.
US: Heating oil costs forecast to soar 37%
Homeowners who heat their houses with heating oil will see their bills jump more than 37% this winter from a year ago, the government said Tuesday in a report that also projected increased costs for all other heating sources.
TransCanada, Shell plan LNG terminal
Pipeline and power company TransCanada Corp. plans to band together with international energy giant Royal Dutch/Shell Group to build a $700 million (U.S.) liquefied natural gas terminal off the coast of New York state.
The United States of America is in freefall.
The $7 trillion national debt, unparalleled domestic consumer debt, the fall of the dollar and rise of the Euro, peak oil, the rise of the biggest markets by far in Europe and China – all adumbrations of a collapsing U.S. economy. [Warning: political rant]
World ‘risks global recession’ in 2005
The world economy faces a significantly raised risk of a global recession in 2005 if oil prices are sustained at their current level, says Stephen Roach, chief economist of investment group Morgan Stanley.
Apocalypse Denial
Even those Americans who don’t care to — and still don’t have to — peer over the wall already essentially know what’s on the other side. That’s the nature of denial. After all, you can’t deny what you don’t, at heart, know to be so.
Physics professor predicts oil crisis
California Institute of Technology professor and vice provost David Goodstein said the world is headed toward a global oil shortage that could cause warfare, economic depression and the crumbling of institutions.
Not So Vast As Our Failure
“Our ignorance is not so vast as our failure to use what we know.” — Marion King Hubbert
New Pipeline to Pump Caspian Oil to Europe
Six European countries, including Austria, Italy and Romania, approved a plan for a pipeline to ship oil from the Caspian Sea region to western Europe, officials said Friday.
Texas regulator says LNG imports critical
Liquefied natural gas imports will play “a pivotal role” in supplying the United States with energy in the coming years, the head of the Texas Railroad Commission says.
Spain makes solar panels mandatory in new buildings
SPAIN wants to take advantage of its sunshine by making solar panels compulsory in new and renovated buildings — to save fuel costs and to improve the environment.
Peak Oil: A Reality Check
Long-time GNN contributor Adam Porter is the oil and economics correspondent for Al Jazeera’s English language web site. Recently, he talked with GNN editor Anthony Lappé about the phenomenon known as “peak oil”
