The stranded oil sands: A worst-case scenario

The signs are there: the Keystone XL oil sands pipeline has festered into an uncomfortable election issue for the U.S. president, Barack Obama.

New Energy Technologies Already Helping DOD

Saving energy saves lives, and new technologies championed by Defense Department officials already are making a difference at the Pentagon and on the battlefield, the chairman of the Joint Chiefs of Staff said here today.

BRUSSELS—Will it work?

The deal euro-zone leaders hammered out in the early hours of Thursday sparked a world-wide stock rally. But the market moves belied widespread caution about the accord among economists and analysts—and even some of the decision-makers in the debt crisis.

Emerging Markets Bulls Seeing Rebound Push Calls to Two-Year High: Options

Options traders are making more bets than any time since 2009 that emerging market equities will climb after valuations fell to the lowest levels in three years.

Obama plans for energy security

PRESIDENT Barack Obama is calling for the United States to reduce its oil imports by one third by 2025.

Facing pressure to curb rising fuel prices, President Obama outlined the lofty but difficult goal.

The White House said Obama will seek to reduce the US dependence on foreign oil by boosting domestic energy production, increasing the use of biofuels and natural gas, and making cars and trucks more fuel-efficient.

IEA: Many Months to Restore Libya's Oil Output

An expert at the International Energy Agency says it may be "many months" before Libya's damaged oil industry can resume full production. The head of IEA's Oil Industry and Markets Division, David Fyfe, said Thursday there are "many logistical, operational and security related challenges" to overcome in Libya.

Renewable Energy Can Replace Nuclear Plants

If the Indian Point Energy nuclear plant in NY state isn't relicensed in 2015, it could be replaced with a wide range of renewable energy options available today.

Energy efficiency and renewable energy sources such as wind and solar, alone could meet the region's energy demand. And there is additional capacity available through new transmission projects and by making existing natural gas power plants much more efficient.

Oil Trades Near Highest Price in a Month After Goldman Cites ‘Upside Risk’

Oil traded near the highest price in more a month after Goldman Sachs Group Inc. predicted “upside” potential, amid signs U.S. crude stockpiles are increasing less rapidly than previously forecast.

Futures were little changed after advancing 2.3 percent yesterday. Energy Department data today may show that supplies climbed 2 million barrels. Yesterday’s report by the industry- funded American Petroleum Institute indicated they dropped for a third week. Goldman Sachs said in a report an improving economic outlook in Europe and declining crude supplies may present “a real upside risk” to Brent prices.

BP gets $4bn from Anadarko as part of a Gulf settlement

BP is to receive $4bn (£2.5bn) cash as part of a settlement with Anadarko Petroleum over last year's Deepwater Horizon oil platform disaster.

The money will go into a $20bn trust that BP set up to meet claims against it following the Gulf of Mexico oil spillage and deaths of rig workers.

U.S. solar energy industry is a booming one

Bill O'Reilly's column, "Don't punish Americans for failure of green energy," on Oct. 1 fails to paint an accurate picture of America's energy resources, now and into the future.

Securing a strong economy and national security for America requires a mix of all energy resources. All solutions developed to meet the nation's high energy demands require a serious investment and commitment from public and private sectors.

BP unveils North Sea investment programme

BP has been given the go ahead to proceed with a new £4.5bn oil project west of the Shetland Islands.

The BP-operated scheme is an extension of the existing Clair oil field, and will also include investment by fellow oil firms Shell, ConocoPhillips and Chevron.

David Cameron said the news was a "massive boost for jobs and growth".

SSE energy auction plan may shake up power market

Scottish and Southern Energy (SSE) will start auctioning its entire electricity supply on the wholesale market.

This is the first time such a move has come from any of the big six suppliers, which use their own power stations to generate electricity.

This could allow new entrants to the energy market, bringing more competition for consumers.

IEA expects lower global oil demand for 2011/12 on downward growth

PARIS, Oct. 12 (Xinhua) -- The International Energy Agency on Wednesday revised down global oil demand projection for 2011 and 2012, based on "lower-than-expected" third quarter readings in the non-OECD area and a downward global growth assumption.

In its new oil market report, the Paris-based IEA put global oil demand down by 50,000 barrels per day (bpd) to an average of 89.2 million bpd for 2011, and down by 210,000 bpd to 90.5 million bpd for 2012.

Oil spill disaster New Zealand's 'worst in decades'

An oil spill from a stranded cargo ship off New Zealand is the country's worst environmental disaster in decades, the government says.

Officials say 350 tonnes of oil may have leaked from the 775ft (236m) Rena, which ran aground on the Astrolabe Reef off the port of Tauranga on Wednesday.

Thailand aims to be regional energy hub, to up oil reserves

Thailand aims to revive a long-stalled plan to become an oil trading and biofuel hub in Southeast Asia, challenging Singapore's dominance, its new energy minister said on Thursday.

The net oil importer plans to boost its crude reserves, excluding refined oil products, to 29 days from 18 days now to improve energy security, said Pichai Naripthaphan, as consumers face volatile crude prices which continue to hold above $100 a barrel..

Green energy key to future, says ex-prez

Former President Bill Clinton explained how the development of clean energy could stimulate job growth last Tuesday, when he was the keynote speaker at Gov. Andrew Cuomo's Open for Business Statewide Conference.

Cuomo, who served as Clinton's secretary of Housing and Urban Development, introduced his former boss, praising his economic leadership.

"President Clinton wrote a playbook on how to make this nation's economy soar … The longest economic expansion in this nation's history was under Bill Clinton, period."

China In Search of Energy Security – Chávez Lays Welcome Mat

President Hugo Chávez has long desired to minimize his country’s economic dependence on the United States, and since China’s huge and growing energy demands have resulted in expanded business with Venezuela, he may very well get his wish. Beijing and Caracas have a history of affable diplomatic ties, which in recent years have been strengthened by several multibillion-dollar oil-exploration deals that are providing China with a broadening spectrum of new sources of energy while helping to revive Venezuela’s wilting economy. With its petroleum consumption climbing 7.5 percent per year, China represents a significant and growing long-term source of income for Venezuela.