Peak Oil News

IMG_20140110_0057 Rosso benzina Marissa Mayer what have you done to FLICKR???? Gas station Switzerland De eerste goedkope benzine Benzineprijs september 2012 in Frankrijk.

Cellulosic Ethanol Technology

Collaborative research between the Research Institute of Innovative Technology for the Earth (RITE) and Honda R&D Co., Ltd., the Honda Motor Co., Ltd. subsidiary responsible for research and development, has resulted in technology and process for the production of ethanol from cellulosic soft-biomass such as the leaves and stalks of plants. The RITE-Honda process uses a bacterial strain developed by RITE that ferments sugar into alcohol and applies Honda engineering technology to enable a “significant increase” in alcohol conversion efficiency in comparison to conventional cellulosic bio-ethanol production processes, according to the partners. » Source: Green Car Congress The process consists of the following steps: Pretreatment to separate cellulose from soft-biomass; Saccharification of cellulose and hemicellulose; Fermentation of sugar into ethanol using microorganisms; and Ethanol refinement. Current approaches allow fermentation inhibitors, collaterally formed primarily during the process of separating cellulose and hemicellulose from ...

Oil Companies Debate Peak Oil

"That argument known as peak-oil theory has provided intellectual backing for the boom in crude prices. . ." This quote comes a September 14 Wall Street Journal article that was entitled "Producers Move to Debunk Gloomy 'Peak Oil' Forecasts" and detailed efforts by Exxon Mobil and Aramco to counter peak oil advocates. » Source: The Huffington Post The piece appeared more than a year after the publication of my book, "Over a Barrel," the first chapter of which challenged the notion of oil as a scarce resource. And it was published barely a week after my post, "Massive Oil Find in Gulf of Mexico Brings Gloom to Peak Oil Pranksters" 9/08/06 (you always read it first on Huffington). That post, focusing on the important Gulf of Mexico find underlined the vast potential for new oil discoveries not only in ...

Cold War for Oil

World prices of oil and gas are showing a steeply rising trend. According to Matthew Simmons, a former White House energy adviser, the price of a barrel of petroleum may rise as high as $ 200 to $ 250 in the coming years from the present price of only $ 78. Such an extreme increase in price of oil and gas would unhinge the world economy and spell ruin for large corporations. In 2005, earth’s population consumed 83 million barrels of oil per day. This number is expected to rise to about 90 million by 2010 and to 115 million by 2030. On the other hand, the historical “peak” of oil production will be reached in 5-10 years despite improvements in production technology and the expansion of oil shales and sands. The consequent shortfall will be extremely large to be bridged by the renewable energies. In the long run, even if ...

Preparations - Money and Labour

Almost everything in our modern economy is either made from oil or requires oil for its functioning or its transportation. As the price of oil begins to skyrocket, therefore, so will the price of everything else. The same happened on a smaller scale during the temporary oil crisis of the 1970s and '80s. The hardest hit will be those with debts: car payments, house mortgages, credit cards, student loans. But everyone will find that a dollar just doesn't "stretch." High prices will be combined with low wages. Even now, the news media are always claiming that the unemployment rate is low, but they fail to mention that so many "employed" people are working at low-paying jobs. It is not easy to get together the required food, clothing, and shelter when one is being paid minimum wage. » Source: countercurrents.org At first, money ...

American Oil Detox

Across the country, politicians and ordinary citizens want to lower taxes on gasoline to ease pain at the pump. This idea is tempting, but it is precisely wrong: There is no better time to raise the national gas tax of 18.4 cents per gallon than now, if done correctly. I have a plan. Each day, the world uses about 84 million barrels of oil. The United States uses one-fourth of that, yet has one-twentieth of the world's population. Using oil worsens global warming, supports oil-rich autocrats, funds terrorism and makes America more inclined to be stuck in the Persian Gulf. In fact, our oil addiction is costlier than most people know. According to the International Center for Technology Assessment, the real price of gasoline is US$5.60 to US$15.14 per gallon, when taking into account environmental, health, social and defense costs associated with protecting and using oil. » Source: ...

Capacity Limits Oil Price Fall

The world should get used to oil prices above $US60 a barrel for at least the next two years due to capacity shortages, said Claude Mandil, the executive director of the International Energy Agency. Speaking from Paris, Mr Mandil told ABC's Inside Business that increased upstream supplies were not expected until at least 2008 and refining capacity would probably not increase until 2010 or 2011. "I expect at this time, barring, of course, any unexpected event, we could again see prices which are at a more comfortable level," he said. » Source: The Sydney Morning Herald Mr Mandil declined to specify his idea of a "comfortable level" but indicated the $US40 to $US50 a barrel range could be appropriate. A statement released by the G7 finance ministers and central bank governors at the weekend encouraged investment in oil exploration, production, transportation and refinery capacity, noting that "tight and volatile energy ...

Syntroleum Transportation Fuel Troubles

It was a great day for many companies and environmentalists back in 2003. Back then the Department of Energy (DOE) announced that a newly constructed natural gas-to-liquids demonstration facility near Tulsa, Oklahoma would open. The Ultra-Clean Fuels Program, managed by DOE’s National Energy Technology Laboratory, was built under a cooperative agreement among DOE, Syntroleum Corp., Marathon Oil Co. and Integrated Concepts Research Corp. (ICRC). Plant construction costs were valued at over $40 million, of which DOE provided $16 million on a cost-share basis. According to the press release of October 3, 2003, The facility would utilize the proprietary Syntroleum® Process to convert natural gas to transportation fuel. The DOE said the plant consisted of three primary components: an autothermal reformer that changes the natural gas into synthesis gas; a Fischer-Tropsch unit that converts the synthesis gas into synthetic crude product; and a refinning unit that upgrades the synthetic crude product into ...

Volatile Oil Prices

Indian Finance Minister Palaniappan Chidambaram called on the International Monetary Fund (IMF) to play a more proactive role in regards to the oil market. Chidambaram, who is leading the Indian delegation (comprising of Bangladesh, Bhutan, India and Sri Lanka) to the IMF’s Monetary and Financial Committee, was addressing the committee on the global economy. In his statement to the committee, Chidambaram noted that while the global economic climate was healthy, the global economy faced risk from inflationary pressures, high and volatile oil prices and global trade imbalances. He noted that oil prices were a major concern, especially for developing nations. » Source: Arab News Chidambaram told the committee that while rising oil prices had initially pushed up headline inflation, spare capacity and an increase in productivity and stronger corporate balance sheets had helped the global economy sustain inflationary pressures. Major central banks, he ...

Algeria Oil Price Increase

ALGERIA - Oil prices are expected to stay above $50 a barrel in coming months, but producers are watching the U.S. economy closely as the possibility of a recession there cannot be ruled out, Algeria's energy minister said on Sunday. Asked by reporters for his price outlook for coming months, Energy and Mines Minister Chakib Khelil replied: "I think prices will still remain above $50. The indications on the futures market are above $50 for the coming years." But he added: "Now everything depends on world economic growth. If there really is a recession in the U.S., at that moment demand could be affected fairly rapidly. We would find a lot of supply on the market and a lot of crude in competition." » Source: Reuters "We cannot exclude this possibility. We count a lot on the wisdom of the ...

Oil Alternatives Conference

Tom Whipple of the Association for the study of Peak Oil and Gas told those attending the "life after cheap oil" seminar at Wilson College that the world is expected to reach peak oil between 2008 and 2010. Peak oil is the point after which oil production enters a terminal decline. The exact date doesn't matter, he said. "It's happening in our lifetime," Whipple said. "It's not the end of world oil. It's just not going to be cheap or affordable. There will always be oil. Three-dollar (a gallon) gasoline didn't slow us in the slightest. At some point most of us are not going to be driving around in cars." » Source: Chambersburg Public Opinion The U.S. imports 66 percent of its oil, and oil imports could be halted for any of number of reasons, according to Whipple. Just a 5 percent cut ...