Insight and inspiration in turbulent times.
With global oil demand surging and prices hitting record levels, the world’s 1,500 oil tankers are all booked up, and charter rates are soaring. The shortage of tankers is one sign of how strong demand and a lack of investment have left the oil industry’s infrastructure stretched thin.
World oil prices will rise to $100 a barrel in three years if demand continues to grow at the rate it has this year, an expert on the global oil market predicted Tuesday during a trip to New Orleans.
“Russian companies have underproduced 14 million tons in January-September compared to what they initially planned,” crude pipeline monopoly Transneft’s head, Semyon Vainshtok, said Tuesday.
The competition between energy and environmental needs in Niger has taken centre stage of late, with authorities seeking to promote the use of coal in a bid to halt deforestation in the North African country.
The greenhouse effect could wreck attempts to lift the world’s poorest people out of poverty and reverse human progress, campaigners say.
Most oil-producing nations are also rife with corruption, and oil companies should provide more information about their operations to help clean up the market, a global watchdog group said Wednesday in an annual report.
Delta Air Lines Inc. reported a much wider third-quarter loss despite a rise in revenue and warned that its financial situation has worsened to the point where it needs to significantly reduce its costs quickly to turn things around.
“With the price of oil above $50 a barrel, with political
instability in the Middle East on the rise, and with little
slack in the world oil economy, we need a new energy strategy,”
says Lester R. Brown, president of the Earth Policy Institute, a
Washington, DC-based research institute. “Fortunately, the
outline of a new strategy is emerging with two new technologies.”
Low-level radiation from nuclear plants may be up to ten times more hazardous than has been previously estimated, a panel of experts said today.
In what appears to be a move to pave the way for the Pebble Bed Modular Reactor (PBMR), Maqubela said if South Africa continued to rely primarily on coal, the country would not be able to commit itself to reducing CO2 emissions.
THERE is a volcano rumbling in the US, with many praying it does not erupt. Concerned observers of the accounting troubles at mortgage financier Fannie Mae include both the International Monetary Fund and the Federal Reserve Bank.
A new analysis of Department of Energy (DOE) figures shows that in the wake of the 2002 Senate vote to approve the Yucca Mountain dumpsite, the Nuclear Regulatory Commission quickly and quietly approved license extensions at nuclear reactors nationwide.
