How Long Will the Oil Age Last?

While consumers pay for perceived shortages at the pump, scientists and economists struggle to reach consensus over “proven oil reserves,” or how much oil you can realistically mine before recovery costs outstrip profits.

Argentina,Venezuela Fuel-For-Food Deal To Continue

BUENOS AIRES (Dow Jones)–Argentina and Venezuela will extend this year’s fuel-for-food accord over the coming years, giving Argentina the option to continue importing diesel and gasoil from its South American neighbor, if current gas and power shortages remain a problem.(Adds comments from Planning Minister De Vido’s spokesman saying this year’s $ 240 million fuel contract deal would be renewed in 2005.)

Fluky wind calls for big back-up

Wind energy’s erratic performance as a power source means the more it forms part of a power system, the more back-up supply is required and the less cost efficient it is, according to a report on renewable energy produced for Britain’s House of Lords.