A avriety of items I extracted from the OIL Drum Web site on different topics.
Alaskan sea drilling plans criticized
The federal government will open up nearly 46,000 square miles off Alaska's northwest coast to petroleum leases next month, a decision condemned by enviromental groups that contend the industrial activity will harm northern marine mammals.
IEA Chief Says Oil May Rise to $150 on China Demand
Oil prices may rise to as high as $150 a barrel because of booming demand from India and China, according to the director of the International Energy Agency.
"In a very high growth scenario in China and India it may move up to $150," Nobuo Tanaka said in an interview in Paris today. Those countries "are consuming energy in a very, very substantial way."
..."Suddenly the lower-level price age may be over and we are now in the age of very high energy prices," Tanaka said.
Chinese shrug off $100 oil, but Beijing must beware
Oil prices at $100 a barrel mean little to Chinese consumers insulated from the global rally by cheap fuel prices, but the latest market peak should sound a warning to Beijing over its disjointed energy policy.
China's leaders extolled the virtues of energy efficiency at every turn last year, but refused to do the one thing that would immediately curb demand -- lift the caps on gasoline and diesel prices, a move they fear would feed already-high inflation.
Strains caused by the widening gap between international and domestic markets may become unmanageable if oil prices stay in three-figure territory, but Beijing may struggle to escape from the vicious cycle its policies have created.
From $1.80 to $100 in 37 years
Key milestones in the price of crude oil since 1970. On Wednesday, the price of a barrel of light sweet crude, the benchmark oil price in New York, broke through $100 for the first time.
- 1970: The official price of Saudi crude oil is fixed at $1.80 a barrel.
French Finance Minister: Happy Strong Euro Offsets Rising Oil Prices
The strong euro is helping the French economy at a time when the price of oil has touched $100 per barrel for the first time, French Finance Minister Christine Lagarde said Friday.
"We often complain about the strong euro when it weighs on our exporting companies," she said at a press conference. "I see for once that the strong euro is making our raw materials purchases cheaper."
Analysis: Venezuelan oil production down
Venezuela's oil industry shrank by more than 5 percent in 2007, according to the Venezuelan National Bank, raising concerns the Venezuelan government is not investing enough of its petroleum wealth in the sector.
Oil production was off 5.3 percent in 2007 from the previous year and contributed $3.14 billion to the country's gross domestic product, down from both 2006 and 2005 when the sector accounted for a reported $3.38 billion.
Ancient Warming Caused Huge Spike in Temps, Study Says
What started out as a moderate global warm-up about 55 million years ago triggered a massive injection of greenhouse gases into the atmosphere that sent temperatures skyrocketing, a new study says.
The finding suggests that today's temperature rise may just be priming the planet for a carbon belch of epic proportions.
Plowing, road salt eating up budgets
Salt is one of the most heavily used compounds in global manufacturing. Demand in rapidly growing countries, such as China and India, combined with the costs of fuel for shipping it, have translated into eye-popping price increases. Boxford and 18 other local communities, from Merrimac to Manchester-by-the-Sea, that buy salt together in a consortium have weathered a 36 percent price increase since 2004. And that was on top of a 25 percent hike the year before.
Nigeria: Governor: I'll arrest militants' parents
The governor of one of Nigeria's oil-rich states said Wednesday he planned to arrest the parents of suspected militants to deter attacks on oil installations and government buildings.
I really do like the last one. You better start watching you kids.
Alaskan sea drilling plans criticized
The federal government will open up nearly 46,000 square miles off Alaska's northwest coast to petroleum leases next month, a decision condemned by enviromental groups that contend the industrial activity will harm northern marine mammals.
IEA Chief Says Oil May Rise to $150 on China Demand
Oil prices may rise to as high as $150 a barrel because of booming demand from India and China, according to the director of the International Energy Agency.
"In a very high growth scenario in China and India it may move up to $150," Nobuo Tanaka said in an interview in Paris today. Those countries "are consuming energy in a very, very substantial way."
..."Suddenly the lower-level price age may be over and we are now in the age of very high energy prices," Tanaka said.
Chinese shrug off $100 oil, but Beijing must beware
Oil prices at $100 a barrel mean little to Chinese consumers insulated from the global rally by cheap fuel prices, but the latest market peak should sound a warning to Beijing over its disjointed energy policy.
China's leaders extolled the virtues of energy efficiency at every turn last year, but refused to do the one thing that would immediately curb demand -- lift the caps on gasoline and diesel prices, a move they fear would feed already-high inflation.
Strains caused by the widening gap between international and domestic markets may become unmanageable if oil prices stay in three-figure territory, but Beijing may struggle to escape from the vicious cycle its policies have created.
From $1.80 to $100 in 37 years
Key milestones in the price of crude oil since 1970. On Wednesday, the price of a barrel of light sweet crude, the benchmark oil price in New York, broke through $100 for the first time.
- 1970: The official price of Saudi crude oil is fixed at $1.80 a barrel.
French Finance Minister: Happy Strong Euro Offsets Rising Oil Prices
The strong euro is helping the French economy at a time when the price of oil has touched $100 per barrel for the first time, French Finance Minister Christine Lagarde said Friday.
"We often complain about the strong euro when it weighs on our exporting companies," she said at a press conference. "I see for once that the strong euro is making our raw materials purchases cheaper."
Analysis: Venezuelan oil production down
Venezuela's oil industry shrank by more than 5 percent in 2007, according to the Venezuelan National Bank, raising concerns the Venezuelan government is not investing enough of its petroleum wealth in the sector.
Oil production was off 5.3 percent in 2007 from the previous year and contributed $3.14 billion to the country's gross domestic product, down from both 2006 and 2005 when the sector accounted for a reported $3.38 billion.
Ancient Warming Caused Huge Spike in Temps, Study Says
What started out as a moderate global warm-up about 55 million years ago triggered a massive injection of greenhouse gases into the atmosphere that sent temperatures skyrocketing, a new study says.
The finding suggests that today's temperature rise may just be priming the planet for a carbon belch of epic proportions.
Plowing, road salt eating up budgets
Salt is one of the most heavily used compounds in global manufacturing. Demand in rapidly growing countries, such as China and India, combined with the costs of fuel for shipping it, have translated into eye-popping price increases. Boxford and 18 other local communities, from Merrimac to Manchester-by-the-Sea, that buy salt together in a consortium have weathered a 36 percent price increase since 2004. And that was on top of a 25 percent hike the year before.
Nigeria: Governor: I'll arrest militants' parents
The governor of one of Nigeria's oil-rich states said Wednesday he planned to arrest the parents of suspected militants to deter attacks on oil installations and government buildings.
I really do like the last one. You better start watching you kids.
The natural progress of things is for liberty to yield and governmnet to gain ground.
Thomas Jefferson
Thomas Jefferson

