"The Effects of High-Priced Oil" (NYT)

Two new articles in the NYT today, about the effect high-oil prices are having on geopolitics, and possible long-term concerns re: economic growth:


"The prospect of triple-digit oil prices has redrawn the economic and political map of the world, challenging some old notions of power. Oil-rich nations are enjoying historic gains and opportunities, while major importers — including China and India, home to a third of the world’s population — confront rising economic and social costs."

http://www.nytimes.com/2007/11/07/business/07oilwealth.html?hp=&pagewanted=all


"[T]he International Energy Agency warned that demand for oil imports by China and India will almost quadruple by 2030 and could create a supply 'crunch' as soon as 2015 if oil producers do not step up production, energy efficiency fails to improve and demand from the two countries is not dampened."

http://www.nytimes.com/2007/11/07/business/07cnd-energy.html?pagewanted=all

Climate Change, Measurement Methodology

Climate change is related to many issues in the energy industry; therefore, I thought readers might find it useful to read this post, which talks about some of the protocols used to measure climate change, and new findings in this regard.

http://arstechnica.com/journals/science.ars/2007/10/25/climate-change-mega-post

BP Agrees to Pay Fine of $373 Million to US Govt (AFP, Oct 25, 2007)

"The global energy giant agreed to pay the fines, some of which were criminal penalties, for environmental violations relating to a Texas refinery blast in 2005, crude oil pipeline leaks in Alaska, and to defer a prosecution for fixing prices in the propane gas market."

http://afp.google.com/article/ALeqM5j-KKOgwF5bAblQR7VOnJTzlZFxEw

http://www.forbes.com/business/energy/2007/10/25/bp-energy-environment-biz-energy-cx_bw_1025bpfines.html

Oil, Gas and the Caspian

Politics is playing a big part in the hindrance of development of energy reserves in the Caspian. Russia is using its muscle to maintain its dominance in the region as the 5 countries that border the sea could not come to agreement on usage rights.

A Quest for Energy in the Globe’s Remote Places (NYT, October 9, 2007)

"The gas field, 340 miles north of the Arctic Circle beneath a stretch of ocean more commonly known as the Barents Sea, is called Snow White — Snohvit in Norwegian.... The field is so large that it could eventually supply nearly 10 percent of the demand for natural gas demand in eastern states of the United States. Dominion, an energy company, has expanded a gas import terminal at Cove Point, Md., to accommodate the Arctic gas...."

http://www.nytimes.com/2007/10/09/business/worldbusiness/09polar.html?pagewanted=all

Barack Obama Proposes 35% Cut in Use of Foreign Oil by 2030 (Oct 8, 2007)

"Obama proposed investing $150 billion over the next 10 years to develop and produce climate-friendly energy supplies and create millions of jobs while protecting the U.S. manufacturing base."

http://www.bloomberg.com/apps/news?pid=20601070&sid=ao0lFk7nR3oo&refer=home

Wal-Mart to Reach 100M CFL Light Bulbs Sold, 3 Months Ahead of Goal (Oct 2, 2007)

"Wal-Mart Stores, Inc. today announced it has surpassed its goal to sell 100 million compact fluorescent light bulbs (CFLs) by the end of 2007. Over the lifetime of the CFLs, Wal-Mart estimates that these energy-saving bulbs will have the effect of taking 700,000 cars off the road, or conserving the energy needed to power 450,000 single-family homes."

http://www.walmartfacts.com/articles/5328.aspx


Also: GE announces, 2 days later, that it's shuttering an incandescent bulb factory:

http://www.genewscenter.com/Content/Detail.asp?ReleaseID=2704&NewsAreaID=2