Canada Stocks Rise as Energy Producers, Railroads Lead Gains

Canadian stocks rose the most in three weeks as energy producers jumped with the price of crude and railroad operators led industrials higher.

Crude Oil Climbs as U.S. Payroll Data Boosts Economic Outlook

Oil increased in New York after a rebound in U.S. payrolls boosted optimism the economy is accelerating. Futures rose 0.8 percent after Labor Department data showed employment picked up in April, a sign companies are gaining confidence.

Deepwater oil spill: BP steps up PR effort to insist all is well in the Gulf

In the run-up to the five-year anniversary of the Deepwater Horizon spill this April, BP is ramping up its effort to convince consumers that life is returning to normal on the Gulf coast.

WTI Rises From Drop Below $80 as Goldman Disputes Glut

West Texas Intermediate crude held gains above $80 a barrel as Goldman Sachs Group Inc. said the market isn’t oversupplied. Brent was steady in London. Futures fluctuated in New York after rebounding 1.1 percent yesterday.

Brazil's largest company, Petrobras, accused of political kickbacks

The brutalist headquarters of South America's biggest company, Petrobras, offers a harsh riposte to those who try to romanticise Brazil as a land of golden beaches and endless forest.

Noble Energy plans to sell China oilfield stake - source

Feb 21 (Reuters) - Noble Energy Inc has hired investment bank Lazard Ltd to help arrange the sale of its majority stake in a small oilfield that it owns with Sinopec off northeastern China, a person familiar with the situation said.

China Crude Imports Rise to Record High as New Refineries Start

China, which consumes more oil than any country except the U.S., boosted net crude imports to a record high last month as two new refineries prepared to begin operations.

Canadian Freight Train Catches Fire After Jumping Rails

A Canadian National Railway Co. (CNR) train carrying crude oil and propane derailed in the eastern province of New Brunswick and sparked a blaze that was still burning more than 12 hours after the accident.

How the Alternative Energy Megatrend will impact global geopolitical relations

The Greening of Geopolitics

By Dr Alexander Mirtchev

The advent of renewable energies is generally regarded from a fairly narrow perspective: whether – and to what extent – they are able to replace fossil fuels and what this would mean for the energy system and the economy. Such a perspective profoundly underestimates the potential consequences of what is in fact a revolutionary global development: a socio-political and techno-economic megatrend that has the ability to become a global societal game-changer, writes Alexander Mirtchev, Vice-President of the Royal United Services Institute for Defence and Security Studies (RUSI). According to Mirtchev, the ‘Alternative Energy Megatrend’ will have far-reaching effects on global geopolitical relations and security concerns – effects that have yet to be fully grasped by most observers. This article is adapted from his upcoming book: “The Alternative Energy Megatrend: A Global Security Discourse in the Universally-Securitized World”.

Alternative Energy And Global Energy Security In Aftermath Of Rio+20

“Life always gets harder toward the summit–the cold increases, the responsibility increases.” These words by Friedrich Nietzsche aptly characterize the atmosphere among global leaders at June’s international summits.

Oil falls as spending cuts loom; pump prices dip

NEW YORK (AP) — Oil fell Friday to its lowest level of the year on worrisome economic developments in the world's two largest oil-consuming nations. The price of crude fell 1.5 percent and is down 6 percent in two weeks.

Oil Set for Second Weekly Drop on Demand Outlook, Supply

Oil in New York rebounded after better-than-forecast U.S. economic figures fueled speculation that energy demand in the world’s largest crude user will increase. Futures rose as much as 0.3 percent after earlier dropping as much as 1.2 percent.

Oil up to near $95 on improving US economy, Greece

Oil prices rose to near $95 a barrel Friday, boosted by signs the U.S. economy may be improving and hopes that the cancellation of a Greek referendum clears the way for the country's financial rescue.

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..

New oil and gas sources on rise

By 2015, 60 per cent of the world's new oil and gas will come from unconventional resources.

The question that should be top of mind is what this means for North America, and, just as important, for energy security.

"The dynamics are changing because of the development of unconventional resources around the world," said Robert Johnston, director of energy and natural resources with the Washingtonbased Eurasia Group.

North Sea opening good for energy security

PARIS, Jan. 26 (UPI) -- The opening of the Gjoa oil and gas field in the Norwegian waters of the North Sea will enhance European energy security, an industry executive said.

Norwegian Petroleum and Energy Minister Terje Riis-Johansen officially opened the North Sea oil and gas field for business during a ceremony with energy leaders.

Gerard Mestrallet, the chairman and chief executive officer at GDF Suez, said the move is a boost for long-term energy security in the region.

"Gjoa will enhance the security of supply of Europe and act as a hub in the Norwegian North Sea for future gas and oil developments," he said in a statement.

The field holds an estimated 82 million barrels of oil and 1.4 trillion cubic feet of natural gas. GDF Suez said the field could produce oil and gas for 15 years, though installations are designed to last for 30 years.

The Gjoa platform uses electricity from the mainland, meaning the amount of carbon dioxide emissions avoided is about the same as taking 100,000 cars off the road, GDF Suez said.

Source: http://www.upi.com

Petrol rationing looms

A report by the Lean Economy Connection in association with the 20 MP strong All Party Parliamentary Group on Peak Oil (APPGOPO) has warned that rationing will be needed to deal with energy shortages as well as helping us achieve our green targets.

The report, ‘TEQs (Tradable Energy Quotas): A Policy Framework for Peak Oil and Climate Change‘ cites the International Agency’s 2008 World Energy Outlook statement that ‘current global trends in energy supply and consumption are patently unsustainable – environmentally, economically and socially’.

It also refers to the Industry Taskforce on Peak Oil and Energy Security’s report ‘The Oil Crunch’, which concluded that global oil production will be unlikely to grow after 2013. With Ofgems warnings in 2010 of shortages and breaks in supply.

The report’s favoured instrument for dealing with the imminent shortages as well as combating carbon emissions is the use of Tradable Energy Quotas (TEQ). And the time-scale of before 2020 seems to be the call.

TEQs are put forward as the solution in that they ‘ … would reduce our reliance on fossil fuels fast, guarantee that we meet our agreed emissions obligations and empower communities to address the challenges of our times, allowing us to move into a happier, thriving future‘.

A form of TEQs are used already in the EU with the Emissions Trading Scheme (ETS), which covers about 12,000 large facilities. But this latest report wants to extend this principle across the country for use by individuals and organisations alike. When you buy fuel you surrender some of your quota, your ration. That includes all types of fuel from domestic to transport.

The ‘people’ would get about 40% of the quotas by entitlement, with the total emissions allowed each year being set by the Committee on Climate Change. The outline procedure is shown here.

John Hemming MP, chairman of the APPGOPO, said: “What is needed is an intelligent response both to climate change and to fuel depletion. We therefore welcome the model set out in the Lean Economy Connection’s report, which addresses both sides of the problem. It is the first coherent proposal to attempt to do this, and it merits close attention.”

This complex and unworkable set-up has the throw away line that ‘The number of occasions on which individuals actually purchase energy is quite limited – perhaps eight times a year for utilities, although it could rise to some thirty times a year for individuals with cars – and most TEQs transactions are done by card and direct debit.’

As the quotas are tradable they can be sold on and profit made. So that those that need to travel more have to buy more quotas. Those that work from home can make a tidy profits one supposes. How about allowances for children? Will those in prison and hospital get a quota?

Although the Department of Energy and Climate Change has said there are ‘no plans to implement such a scheme‘ just look at the choice of words. Why not just say we aren’t going to ration fuel?

Can you even begin to imagine the fraud, spivvery, mis-allocation, crime, forgery and corruption a scheme such as this would attract?

Source: http://www.economicvoice.com

Report calls for energy rationing within the decade

Fuel and energy rationing will be needed before 2020, according to a new parliamentary report that is proposing a system to make sure people have fair and equal access to energy while helping the Government meet its 80 per cent carbon emission reduction by 2050.
The Lean Economy Connection report, entitled 'Tradable Energy Quotas’ was commissioned by the All Party Parliamentary Group on Peak Oil and concludes that the value of carbon savings now warrants the use of Tradable Energy Quotas (TEQs). It proposes that all adults should receive energy credits in the rationing system.

The UK Industry Taskforce on Peak Oil and Energy Security has already said peak oil may be reached by 2015. Peak oil is the point when global oil production is at its highest and future production will have to plateau or reduce.

How the rationing system would work
Using the TEQs system would guarantee people had equal access to energy, and they would be able to sell additional credits if they had more than necessary. Businesses would bid weekly for energy units, which would also generate money to fund the system.

Unlike a carbon taxing system, people would not charged for their emissions, so would not have to pay more money in an economy that is already strained.

Commenting on the release of the report, published today, John Hemming MP, chairman of the All Party Parliamentary Group on Peak Oil, said: "What is needed is an intelligent response both to climate change and to fuel depletion. We therefore welcome the model set out in the Lean Economy Connection’s report, which addresses both sides of the problem. It is the first coherent proposal to attempt to do this, and it merits close attention."

Emissions reduction goals
It is unlikely that emissions reduction goals will be met if TEQs aren’t used, according to the report.

"TEQs is the kind of approach we will need if we are to mobilise the infrastructure of a zero-carbon future fast, under pressure. It would increase the chances of working our way through the grim times to renaissance-through-resilience," Jeremy Leggett, chairman of Solarcentury added.

Energy security
The system would help the UK manage should energy scarcities arise in the future while also maintaining the market and mitigating fuel poverty.

Shaun Chamberlin, director of the Lean Economy Connection and co-author of the report, asked that the Government shift its focus away from research and onto ways to implement ways to reduce carbon emissions should rationing become necessary.

Source: http://www.greenwisebusiness.co.uk

Opec unlikely to boost oil output despite soaring price

The Opec oil producers' group has signalled that it is unlikely to boost output, despite the price of crude nearing $100 a barrel.

The United Arab Emirates' oil minister said he was not concerned about $100 oil, echoing comments from other Opec members Iran, Venezuela and Algeria.

"There is no shortage of oil, the market is well supplied," said Mohammed bin Dhaen al-Hamli.

But the International Energy Agency said oil's price rise was "alarming".

There was speculation that the members of Opec, which accounts for more than 40% of global oil output, might hold an emergency meeting soon to discuss the rapid increase in the price of crude.

However, with several Opec members appearing to be at ease with the price rise, a meeting looks increasingly unlikely.

Although the higher price earns Opec members greater revenues, the organisation is also aware that it could choke off global economic recovery. An output increase would help to cool prices.

Brent crude was trading at almost $98 a barrel on Monday, nearing a 27-month high.

Nobuo Tanaka, head of the International Energy Agency, an adviser to 28 industrialised countries, said the "alarming" rise in the oil price would be damaging.

"We are concerned about the speed of the rising oil price, which can harm the growth of economies. If the current price continues, it will have a negative impact," Mr Tanaka said.

But Venezuela's Energy Minister, Rafael Ramirez, described the price of $100 a barrel as "fair value".

He told the Reuters news agency: "We don't think [the price rise] impedes the recovery of the global economy. Venezuela does not consider that an extraordinary or emergency Opec meeting is necessary."

Source: http://www.bbc.co.uk