Nigerian Oil Delta Rebels Say ‘War’ Starts Oct 1
Nigerian rebels fighting for sovereignty of the oil-producing Niger delta told oil companies in the world’s seventh largest exporter to shut production before they begin an “all-out war” on Oct. 1.
Oil futures hit $50 on Nigerian rebel threat
Crude oil futures on New York’s NYMEX have jumped 36 cents in electronic trading to the psychological $50 a barrel level, the highest in the 21 years oil futures have traded on the exchange, as Nigerian rebels decided an “all-out” war against the government starting October 1.
High noon for oil and gas, twilight for suburbia?
‘It looks like 2007-2008 will be about the latest before world oil supplies get into trouble, and if Saudi Arabia gets into trouble before then, very likely we will move into decline before then.’
British firm makes nuclear industry’s ‘holy grail’ claim
A British company claims to have found the “holy grail” of the nuclear energy industry – a solution to the problem of radioactive waste disposal.
Oil Companies Zeroing In on Mauritania as New Sources Dwindle
Given the current supply climate, even a small nation can become important in helping provide new reserves of crude. Some of the world’s biggest oil companies have set their sights on Mauritania.
Book Excerpt: Powerdown: Options and Actions for a Port-Carbon World
We live in a time in which several “storms” are colliding: resource depletion, continued population growth, declining per-capita food production, global climate change and other signs of environmental degradation, unsustainable levels of US debt and a potential dollar collapse and international political instability. Powerdown, the path of cooperation, conserving and sharing, seems the most sane response.
Asian Stocks Fall on Record Oil Prices: Toyota, Airlines Drop
Asian stocks dropped on concern record oil prices will slow global economic growth and corporate profits. Exporters such as Toyota Motor Corp. and airlines including Cathay Pacific Airways Ltd. led declines.
Opec ‘is losing power to control oil prices’
The continuing surge in oil prices is proving Opec’s limited influence on the market despite the organisation committing to increasing its production ceiling, analysts said.
Oil prices are surging so oil traders are having the time of their lives, right?
Well, no. Oil’s startling price surge this year has actually driven many traders to the sidelines as wild intra-day swings magnified by powerful speculative funds confound traditional trading strategies, market sources say.
India: higher oil imports, tax cuts and a strategic petroleum reserve
India’s crude oil imports jumped by 23.3 % in July this year on increased demand for oil products, a senior Petroleum Ministry official said.
Chinese Premier Departs Without Energy Solution
Russia and China agreed to terms for Russia’s membership in the World Trade Organization during top-level talks in Moscow on Friday, but both sides left unanswered questions about whether Russia was ready to guarantee stable oil supplies and boost oil and gas deliveries in the future to its energy-hungry neighbor.
Australia: Innovative tidal energy generator gets go ahead
A self-taught inventor has signed a contract with Country Energy, one of the country’s biggest power grids, to test a new source of clean and renewable electricity that will harness ocean currents and has the potential to drastically reduce electricity costs on islands.
