By ANDREW TAYLOR, Associated Press Writer Thu Jul 17, 3:36 PM ET
WASHINGTON - House Republicans on Thursday killed a Democratic plan designed to spur drilling on already available federal lands in Alaska , the West and the western Gulf of Mexico .
oil companies — would do little to boost exploration. They renewed their demand to open up the Atlantic and Pacific coasts and the eastern Gulf of Mexico to exploration.
The bill won a 244-173 majority, but still failed because it did not get a two-thirds margin under rules requiring a supermajority vote. Democratic leaders appeared to choose the unusual process because it allowed them to deny Republicans a vote on opening up new offshore areas for drilling.
Democrats pointed out that any new offshore leasing — sought by the administration, most Republicans and some Democrats — would not produce oil for a decade or so and therefore would not effect today’s $4-plus per gallon gasoline prices.
But with voters so angry over gas prices, Democrats felt the need to burnish their pro-drilling credentials in the face of unrelenting GOP pressure to open up the Outer Continental Shelf to oil exploration.
"Drill. Drill. Drill," said Rep. Nick Rahall , D-W.Va., the chairman of the House Natural Resources Committee. "Drill here. Drill now."
Democrats again called on President Bush to release some oil from the Strategic Petroleum Reserve in an attempt to immediately drive down prices.
As debate began, the White House weighed in with a veto threat. It said a Democratic provision requiring oil and gas companies to develop on already leased lands before obtaining new leases would curb future U.S. production.
"By blocking some firms from competing for new leases, this legislation would further increase gasoline prices that already exceed $4 per gallon," the White House said in a statement.
On the eve of the vote, the Interior Department issued a major new lease in Alaska’s National Petroleum Reserve. The Democratic bill would require a more active department leasing program on the reserve, which is to the west of the off-limits Arctic National Wildlife Reserve. The reserve is the subject of a long-standing battle between environmentalists and the oil lobby.
With the rise in pump prices, public opinion on energy issues is shifting in favor of a more permissive stance on drilling, even though the idea of opening the Atlantic and Pacific coasts or the eastern Gulf off Florida’s beaches to oil and gas companies long has been seen as a nonstarter.
Democrats are scrambling to appear pro-drilling — hence the "Drill Act" title for Thursday’s bill — even as leaders such as House Speaker Nancy Pelosi , D-Calif., are dead set against reversing the drilling bans.
Democrats say the industry should first go after oil and natural gas on 68 million acres already leased.
Democrats also say Republicans are simply seeking political advantage with a pro-drilling plan that won’t deliver new U.S. oil for another decade or so, and that the GOP’s fixation on drilling is a smoke screen for the administration’s inability to prevent the sharp spike in gasoline prices.
Bush this week lifted an executive prohibition on drilling for oil and gas on the Outer Continental Shelf. He acknowledged that getting any oil to market would take a lot of time. An annual ban by Congress remains in place.
"By his own admission yesterday, the president said this is not going to have an immediate impact," Pelosi told reporters Thursday.
In the Senate, Majority Leader Harry Reid, D-Nev., moved to begin debate on a bill aimed at curbing speculation in the oil markets that Democrats say has contributed to the rapid rise in the price of oil.
The bill would increase staffing at the Commodity Futures Trading Commission and require the agency to curb the size of speculative positions held by traders who aren’t using the markets for legitimate hedging purposes.
Republicans hope to use the bill as a vehicle for votes on further offshore exploration, among other pro-energy production measures.
Showing posts with label alternative energy. Show all posts
Showing posts with label alternative energy. Show all posts
Friday, August 8, 2008
Thursday, August 7, 2008
“Peak Demand” — U.S. Gasoline Demand Likely Peaked in 2007
Americans are driving less and demanding greater fuel efficiency as a result of sustained high prices
Gasoline demand in the United States may have reached its peak, as rising prices lead consumers to make long-term decisions that will weaken demand in the years to come, according to a new analysis by Cambridge Energy Research Associates (CERA), an IHS Inc. (NYSE: IHS) company.
The report, Drivers Turn the Corner in the United States, conducted by CERA’s global oil service predicts that U.S. gasoline demand will likely decline in 2008 for the first time in 17 years. If petroleum prices stay at or near their current levels, 2007 could prove to have been the peak year for U.S. gasoline demand.
“Americans are now driving less and demanding greater fuel efficiency from their vehicles when they do drive,” said Aaron Brady, CERA director, global oil. “Automakers are responding by accelerating the shift in their model mix. Both short- and long-term signals are all pointing toward decreasing future demand.”
U.S. gasoline prices are already at their highest level ever, even in inflation-adjusted terms. Increases in real income over the past 30 years mean that gasoline prices are not yet causing as much economic pain as they did during the 1980s. But that level is now quickly approaching. CERA estimates that such a “pain point” would be an annual average price of just over $4.20 per gallon—not far from current levels.
Though the current U.S. economic slowdown explains some of the decline in gasoline demand, long-term shifts in consumer behavior that began as much as two years ago in response to high prices are the key drivers to lower demand, the report says.
Growth in total vehicle miles traveled (VMT) by American drivers slowed substantially in 2005 and 2006 and VMT is now trending downward for the first time since the oil shocks of the 1970s and 1980s.
U.S. vehicle sales have been decreasing since mid-2005, and sales of light trucks—which tend to get fewer miles per gallon—have dropped significantly. Light truck sales (a category which includes sports utility vehicles) are now less than half of total light vehicle sales for the first time since 2001.
Consumer preference has begun to shift toward more fuel-efficient vehicles. Hybrid vehicle sales increased by more than a third from 2006 to 2007. Last year, Americans bought more Toyota Prius hybrids than they did Ford Explorers, which was the best selling sport utility vehicle in the country for more than a decade.
“The impact of this shift towards greater fuel efficiency is only beginning to be felt,” says Samantha Gross, CERA associate director, global oil. “The change is evident in the strategies of car makers and in the new focus on electric batteries. Stricter government efficiency standards, set to begin in 2011, will continue the trend.”
For more information about Drivers Turn the Corner in the United States, contact Bethany Genier at +1 617 866 5000 or bgenier@cera.com
For more information on CERA’s Driving the Future Forum , contact Dalton Perras at dperras@cera.com or visit our website, www.cera.com.
####
About CERA (www.cera.com)
Cambridge Energy Research Associates (CERA), an IHS company, is a leading advisor to energy companies, consumers, financial institutions, technology providers and governments. CERA (www.cera.com) delivers strategic knowledge and independent analysis on energy markets, geopolitics, industry trends, and strategy. CERA is based in Cambridge, MA, and has offices in Bangkok, Beijing, Calgary, Dubai, Johannesburg, Mexico City, Moscow, Mumbai, Oslo, Paris, Rio de Janeiro, San Francisco, Tokyo and Washington, DC.
About IHS (www.ihs.com)
IHS (NYSE: IHS) is a leading global source of critical information and insight for customers in a broad range of industries. Our customer product and service solutions span four major areas of information: energy, product lifecycle management, environmental and security. By focusing on our customers first, we deliver data and expertise that enable innovative and successful decision-making. Customers range from governments and multinational companies to smaller companies and technical professionals in more than 180 countries. IHS has been in business since 1959 and employs more than 3,500 people in 35 locations around the world.
© 2008, IHS is a registered trademark of IHS Inc. CERA is a registered trademark of Cambridge Energy Research Associates, Inc. Copyright ©2008 IHS Inc. All rights reserved.
TOP ^
Press Coverage
New York Times
Driving Less, Americans Finally React to Sting of Gas Prices, a Study Says
“U.S. gasoline demand will likely decline in 2008 for the first time in more than 17 years,” says the report to be released Thursday. “For the first time since the 1970s and early 1980s the number of miles driven by Americans has clearly begun trending downward.”
The Wall Street Journal
Prices Curtail U.S. Gasoline Use
A report by Cambridge Energy Research Associates, an energy-consulting group, says 2007 probably will represent the peak year of gasoline consumption in the U.S., with annual demand dropping this year for the first time in 17 years.
“All signs point downward from here,” says Samantha Gross, associate director of CERA’s global oil-research group and one of the report’s authors. Gas prices have been high long enough for consumers to see them as “something that’s here to stay.”
Bloomberg
Gas demand may have topped off
Demand “will likely” decline in 2008 for the first time in 17 years, the Cambridge, Mass.- based company said Thursday. Cambridge is a subsidiary of Douglas County-based IHS Inc.
“If petroleum prices stay at or near their current levels, 2007 could prove to have been the peak year for U.S. gasoline demand,” the report said.
Associated Press
With gas prices soaring, Americans driving less
With gas prices holding at record levels above $4 a gallon, Americans are driving less and abandoning gas-guzzling vehicles, according to new government data.
Reuters
Slowdown in road travel eclipses 1979 drop: Govt
Cambridge Energy Research Associates said long-term shifts in consumer behavior, such as buying more fuel-efficient vehicles, is helping to push gasoline demand lower.
“Americans are now driving less and demanding greater fuel efficiency from their vehicles when they do drive,” said Aaron Brady, CERA’s global oil director.
Gasoline demand in the United States may have reached its peak, as rising prices lead consumers to make long-term decisions that will weaken demand in the years to come, according to a new analysis by Cambridge Energy Research Associates (CERA), an IHS Inc. (NYSE: IHS) company.
The report, Drivers Turn the Corner in the United States, conducted by CERA’s global oil service predicts that U.S. gasoline demand will likely decline in 2008 for the first time in 17 years. If petroleum prices stay at or near their current levels, 2007 could prove to have been the peak year for U.S. gasoline demand.
“Americans are now driving less and demanding greater fuel efficiency from their vehicles when they do drive,” said Aaron Brady, CERA director, global oil. “Automakers are responding by accelerating the shift in their model mix. Both short- and long-term signals are all pointing toward decreasing future demand.”
U.S. gasoline prices are already at their highest level ever, even in inflation-adjusted terms. Increases in real income over the past 30 years mean that gasoline prices are not yet causing as much economic pain as they did during the 1980s. But that level is now quickly approaching. CERA estimates that such a “pain point” would be an annual average price of just over $4.20 per gallon—not far from current levels.
Though the current U.S. economic slowdown explains some of the decline in gasoline demand, long-term shifts in consumer behavior that began as much as two years ago in response to high prices are the key drivers to lower demand, the report says.
Growth in total vehicle miles traveled (VMT) by American drivers slowed substantially in 2005 and 2006 and VMT is now trending downward for the first time since the oil shocks of the 1970s and 1980s.
U.S. vehicle sales have been decreasing since mid-2005, and sales of light trucks—which tend to get fewer miles per gallon—have dropped significantly. Light truck sales (a category which includes sports utility vehicles) are now less than half of total light vehicle sales for the first time since 2001.
Consumer preference has begun to shift toward more fuel-efficient vehicles. Hybrid vehicle sales increased by more than a third from 2006 to 2007. Last year, Americans bought more Toyota Prius hybrids than they did Ford Explorers, which was the best selling sport utility vehicle in the country for more than a decade.
“The impact of this shift towards greater fuel efficiency is only beginning to be felt,” says Samantha Gross, CERA associate director, global oil. “The change is evident in the strategies of car makers and in the new focus on electric batteries. Stricter government efficiency standards, set to begin in 2011, will continue the trend.”
For more information about Drivers Turn the Corner in the United States, contact Bethany Genier at +1 617 866 5000 or bgenier@cera.com
For more information on CERA’s Driving the Future Forum , contact Dalton Perras at dperras@cera.com or visit our website, www.cera.com.
####
About CERA (www.cera.com)
Cambridge Energy Research Associates (CERA), an IHS company, is a leading advisor to energy companies, consumers, financial institutions, technology providers and governments. CERA (www.cera.com) delivers strategic knowledge and independent analysis on energy markets, geopolitics, industry trends, and strategy. CERA is based in Cambridge, MA, and has offices in Bangkok, Beijing, Calgary, Dubai, Johannesburg, Mexico City, Moscow, Mumbai, Oslo, Paris, Rio de Janeiro, San Francisco, Tokyo and Washington, DC.
About IHS (www.ihs.com)
IHS (NYSE: IHS) is a leading global source of critical information and insight for customers in a broad range of industries. Our customer product and service solutions span four major areas of information: energy, product lifecycle management, environmental and security. By focusing on our customers first, we deliver data and expertise that enable innovative and successful decision-making. Customers range from governments and multinational companies to smaller companies and technical professionals in more than 180 countries. IHS has been in business since 1959 and employs more than 3,500 people in 35 locations around the world.
© 2008, IHS is a registered trademark of IHS Inc. CERA is a registered trademark of Cambridge Energy Research Associates, Inc. Copyright ©2008 IHS Inc. All rights reserved.
TOP ^
Press Coverage
New York Times
Driving Less, Americans Finally React to Sting of Gas Prices, a Study Says
“U.S. gasoline demand will likely decline in 2008 for the first time in more than 17 years,” says the report to be released Thursday. “For the first time since the 1970s and early 1980s the number of miles driven by Americans has clearly begun trending downward.”
The Wall Street Journal
Prices Curtail U.S. Gasoline Use
A report by Cambridge Energy Research Associates, an energy-consulting group, says 2007 probably will represent the peak year of gasoline consumption in the U.S., with annual demand dropping this year for the first time in 17 years.
“All signs point downward from here,” says Samantha Gross, associate director of CERA’s global oil-research group and one of the report’s authors. Gas prices have been high long enough for consumers to see them as “something that’s here to stay.”
Bloomberg
Gas demand may have topped off
Demand “will likely” decline in 2008 for the first time in 17 years, the Cambridge, Mass.- based company said Thursday. Cambridge is a subsidiary of Douglas County-based IHS Inc.
“If petroleum prices stay at or near their current levels, 2007 could prove to have been the peak year for U.S. gasoline demand,” the report said.
Associated Press
With gas prices soaring, Americans driving less
With gas prices holding at record levels above $4 a gallon, Americans are driving less and abandoning gas-guzzling vehicles, according to new government data.
Reuters
Slowdown in road travel eclipses 1979 drop: Govt
Cambridge Energy Research Associates said long-term shifts in consumer behavior, such as buying more fuel-efficient vehicles, is helping to push gasoline demand lower.
“Americans are now driving less and demanding greater fuel efficiency from their vehicles when they do drive,” said Aaron Brady, CERA’s global oil director.
Wednesday, August 6, 2008
Mining news-BP-Energy Consumption Rises as Supplies Lag But Free Energy Markets Do Work
Release date: 11 June 2008
“The defining feature of global energy markets remains high and volatile prices, reflecting a tight balance of supply and demand. This has put issues such as energy security and alternative energies at the forefront of the political agenda worldwide,” said Tony Hayward, BP’s chief executive at the launch of the 2008 BP Statistical Review of World Energy.
The Review shows that the world’s fossil fuel resource base remains sufficient to support growing levels of production but the continued weakness in oil supply and increasing demand outside the OECD also highlight the challenges that industry faces in maintaining secure energy supplies.
“Declining oil production in the OECD highlights the fact that, while resources are not a constraint globally, the resources within reach of private investment by companies like BP are limited. Political factors, barriers to entry, and high taxes all play a role here. In other words, when it comes to producing more oil, the problems are above ground, not below it. They are not geological, but political,” added Hayward.
“But despite high and volatile energy prices, the world’s energy markets continue to deliver reliable energy supplies,” said Hayward.
According to the Review, world economic growth was strong last year, despite financial market turmoil which began in August, and this continued to support global energy consumption. And although growth in primary energy consumption slowed in 2007 compared to 2006, at 2.4% it was still above the 10-year average for the fifth consecutive year.
The oil price has been on an upward path for more than six years, which according to BP’s data series going back to 1861, is the longest period of rising prices on record.
“This year’s Statistical Review shows very clearly that markets do work, and that consumers and producers respond to changes in energy prices when given the opportunity to do so. However, in many places, policies interfere with market mechanisms and access to economically rational upstream reserves is difficult. Further, in a number of countries consumers are shielded from price increases via subsidies,” commented Christof Rühl, BP’s chief economist at the Review’s launch.
Oil: Dated Brent crude oil averaged $72.39 per barrel in 2007, an increase of 11%. Prices rose steadily throughout the year, from a low of just over $50 in mid-January to above $96 by year-end. Temporary bottlenecks caused the USA benchmark WTI to trade at a discount to Brent for the first time since 1979. Discounts for heavy, sour crudes remained high reflecting constraints on upgrading capacity in refining.
Global oil consumption grew by 1.1% in 2007, or 1 million barrels per day (bpd), slightly below the 10-year average. Consumption in the oil exporting regions of the Middle East, South and Central America, and Africa accounted for two-thirds of the world’s growth. The Asia-Pacific region grew by 2.3%, even though growth in China and Japan was below average, with strong growth in a number of emerging economies. OECD consumption fell by 0.9%, or nearly 400,000 bpd.
Global oil production fell by 0.2%, or 130,000 bpd, the first decline since 2002. OPEC production dropped by 350,000 bpd due to the cumulative impact of production cuts implemented in November 2006 and February 2007. Increased output in Angola and Iraq, and growing supply of condensates/NGLs, partially offset larger cuts in other OPEC countries.
Oil production growth outside OPEC remained weak, rising by just over 200,000 bpd in 2007; OECD output fell for a fifth consecutive year. FSU output rose by nearly 500,000 bpd, with Azerbaijan and Russia each growing by more than 200,000 bpd.
Proved oil reserves were essentially flat in 2007-at 1.24 trillion barrels-and are sufficient to meet current production for more than 41 years. However, the 2006 world total was revised up by 31 billion barrels upon receipt of more complete information.
Gas: World natural gas consumption grew by an above-average 3.1% in 2007, although only North America, Asia-Pacific, and Africa recorded above average regional growth. The USA accounted for nearly half of the world’s gas consumption growth, driven by cold winter weather and strong demand for gas in power generation. Chinese consumption grew by 19.9% and accounted for the second-largest increment to global gas consumption. EU consumption declined by 1.6%-the second consecutive decline-in face of warm winter weather.
Gas production rose by 2.4% in 2007. The USA accounted for the largest increment to supply, growing by 4.3%, the strongest growth since 1984. EU production declined by 6.4%, with UK output falling by 9.5%, the world’s largest volumetric decline for a second consecutive year. A small decline in Russian production was more than offset by strong growth elsewhere in the FSU. China and Qatar recorded the second- and third-largest increments to production, increasing by 18.4% and 17.9% respectively.
LNG shipments rose by 7.3%, supported by continued growth in shipments from Qatar and Nigeria. USA LNG receipts rose by one-third as a large price premium to European spot markets resulted in the diversion of cargoes to the USA.
Coal: Coal was the fastest growing fuel in the world for the fourth consecutive year. Global consumption rose by 4.5%. Consumption growth was widespread, with growth in every region except the Middle East exceeding the 10-year average. Chinese coal consumption rose by 7.9%, the weakest growth since 2002, but more than two-thirds of global growth. Indian consumption rose by 6.6%, and OECD consumption rose by 1.3%, both above average figures.
Nuclear and hydroelectric: Nuclear power output fell by 2%, the steepest decline on record. However, more than 90% of this decline was accounted for by Germany and Japan-which saw the world’s largest nuclear power plant closed following an earthquake. Hydroelectric generation increased by 1.7%, slightly below the 10-year average. Increased capacity in China and Brazil was partially offset by drought-related declines in the USA and Southern Europe.
Renewables: Renewable energy remains a small share of total global energy use, but most renewable sources experienced rapid growth in 2007. Ethanol output rose by 27.8%. Global capacity for wind and solar electricity generation grew broadly in line with historical averages of 28.5% and 37%, respectively.
Note to editors:
The BP Statistical Review of World Energy is available online at www.bp.com/statisticalreview. The website contains all the tables and charts found in the printed edition plus some additional data, an energy charting tool and a conversion calculator.
Further information and media request for hard copies:
Office: BP press office
Phone:+44 (0)20 7496 4076
“The defining feature of global energy markets remains high and volatile prices, reflecting a tight balance of supply and demand. This has put issues such as energy security and alternative energies at the forefront of the political agenda worldwide,” said Tony Hayward, BP’s chief executive at the launch of the 2008 BP Statistical Review of World Energy.
The Review shows that the world’s fossil fuel resource base remains sufficient to support growing levels of production but the continued weakness in oil supply and increasing demand outside the OECD also highlight the challenges that industry faces in maintaining secure energy supplies.
“Declining oil production in the OECD highlights the fact that, while resources are not a constraint globally, the resources within reach of private investment by companies like BP are limited. Political factors, barriers to entry, and high taxes all play a role here. In other words, when it comes to producing more oil, the problems are above ground, not below it. They are not geological, but political,” added Hayward.
“But despite high and volatile energy prices, the world’s energy markets continue to deliver reliable energy supplies,” said Hayward.
According to the Review, world economic growth was strong last year, despite financial market turmoil which began in August, and this continued to support global energy consumption. And although growth in primary energy consumption slowed in 2007 compared to 2006, at 2.4% it was still above the 10-year average for the fifth consecutive year.
The oil price has been on an upward path for more than six years, which according to BP’s data series going back to 1861, is the longest period of rising prices on record.
“This year’s Statistical Review shows very clearly that markets do work, and that consumers and producers respond to changes in energy prices when given the opportunity to do so. However, in many places, policies interfere with market mechanisms and access to economically rational upstream reserves is difficult. Further, in a number of countries consumers are shielded from price increases via subsidies,” commented Christof Rühl, BP’s chief economist at the Review’s launch.
Oil: Dated Brent crude oil averaged $72.39 per barrel in 2007, an increase of 11%. Prices rose steadily throughout the year, from a low of just over $50 in mid-January to above $96 by year-end. Temporary bottlenecks caused the USA benchmark WTI to trade at a discount to Brent for the first time since 1979. Discounts for heavy, sour crudes remained high reflecting constraints on upgrading capacity in refining.
Global oil consumption grew by 1.1% in 2007, or 1 million barrels per day (bpd), slightly below the 10-year average. Consumption in the oil exporting regions of the Middle East, South and Central America, and Africa accounted for two-thirds of the world’s growth. The Asia-Pacific region grew by 2.3%, even though growth in China and Japan was below average, with strong growth in a number of emerging economies. OECD consumption fell by 0.9%, or nearly 400,000 bpd.
Global oil production fell by 0.2%, or 130,000 bpd, the first decline since 2002. OPEC production dropped by 350,000 bpd due to the cumulative impact of production cuts implemented in November 2006 and February 2007. Increased output in Angola and Iraq, and growing supply of condensates/NGLs, partially offset larger cuts in other OPEC countries.
Oil production growth outside OPEC remained weak, rising by just over 200,000 bpd in 2007; OECD output fell for a fifth consecutive year. FSU output rose by nearly 500,000 bpd, with Azerbaijan and Russia each growing by more than 200,000 bpd.
Proved oil reserves were essentially flat in 2007-at 1.24 trillion barrels-and are sufficient to meet current production for more than 41 years. However, the 2006 world total was revised up by 31 billion barrels upon receipt of more complete information.
Gas: World natural gas consumption grew by an above-average 3.1% in 2007, although only North America, Asia-Pacific, and Africa recorded above average regional growth. The USA accounted for nearly half of the world’s gas consumption growth, driven by cold winter weather and strong demand for gas in power generation. Chinese consumption grew by 19.9% and accounted for the second-largest increment to global gas consumption. EU consumption declined by 1.6%-the second consecutive decline-in face of warm winter weather.
Gas production rose by 2.4% in 2007. The USA accounted for the largest increment to supply, growing by 4.3%, the strongest growth since 1984. EU production declined by 6.4%, with UK output falling by 9.5%, the world’s largest volumetric decline for a second consecutive year. A small decline in Russian production was more than offset by strong growth elsewhere in the FSU. China and Qatar recorded the second- and third-largest increments to production, increasing by 18.4% and 17.9% respectively.
LNG shipments rose by 7.3%, supported by continued growth in shipments from Qatar and Nigeria. USA LNG receipts rose by one-third as a large price premium to European spot markets resulted in the diversion of cargoes to the USA.
Coal: Coal was the fastest growing fuel in the world for the fourth consecutive year. Global consumption rose by 4.5%. Consumption growth was widespread, with growth in every region except the Middle East exceeding the 10-year average. Chinese coal consumption rose by 7.9%, the weakest growth since 2002, but more than two-thirds of global growth. Indian consumption rose by 6.6%, and OECD consumption rose by 1.3%, both above average figures.
Nuclear and hydroelectric: Nuclear power output fell by 2%, the steepest decline on record. However, more than 90% of this decline was accounted for by Germany and Japan-which saw the world’s largest nuclear power plant closed following an earthquake. Hydroelectric generation increased by 1.7%, slightly below the 10-year average. Increased capacity in China and Brazil was partially offset by drought-related declines in the USA and Southern Europe.
Renewables: Renewable energy remains a small share of total global energy use, but most renewable sources experienced rapid growth in 2007. Ethanol output rose by 27.8%. Global capacity for wind and solar electricity generation grew broadly in line with historical averages of 28.5% and 37%, respectively.
Note to editors:
The BP Statistical Review of World Energy is available online at www.bp.com/statisticalreview. The website contains all the tables and charts found in the printed edition plus some additional data, an energy charting tool and a conversion calculator.
Further information and media request for hard copies:
Office: BP press office
Phone:+44 (0)20 7496 4076
Farming Biodiesel Inc. Farm of the Future is Open Projected to Produce 15,000,000 Gallons of Biodiesel a Year by 2010
This news release is about farming Biodiesel Inc a 1500 Acre Self Sufficient Jatropha Farm in the Californian Desert now planting biodiesel fuel stock using various farming methods to produce biodiesel.
Desert Center, CA, July 20, 2008 –(PR.com)– Farming Biodiesel Inc. Opened on July 1st, this farm which is located in the desert of Southern California is a social farming organization using various farming methods to farm bio-fuel stocks to help eliminating Petro diesel. Utilizing green technologies such as solar, wind, with the integrating of Fish, vegetable crop and live stock the farm of the future is virtually self sufficient.
Farming Biodiesel Inc is now over 1500 acres and when fully planted will by over 30,000 acres…
Farming Director Michael Reardon Quote
“Here at Farming Biodiesel Inc we are committed to creating a renewable clean alternative to petro diesel. By reclaiming desert waste lands and turning them into profitable farms the effect is immediate on the local economy, by providing jobs, housing, and health insurance to over 1000 people per acre of farmland. Biodiesel can be mass produced and distributed at a cost of $3.75 per gallon. Farming Biodiesel Inc. is currently involved in 14 projects in 5 different countries, Farming Biodiesel Inc . . . . Encourages every American to research all alternative sources to petro fuels. The only way the United States will become free of petro use for fuel is by educating your self’s and taking action , even if you only write your congress man to support Farming for Biodiesel and alternative fuels.”
farmingbiodiesel.
Desert Center, CA, July 20, 2008 –(PR.com)– Farming Biodiesel Inc. Opened on July 1st, this farm which is located in the desert of Southern California is a social farming organization using various farming methods to farm bio-fuel stocks to help eliminating Petro diesel. Utilizing green technologies such as solar, wind, with the integrating of Fish, vegetable crop and live stock the farm of the future is virtually self sufficient.
Farming Biodiesel Inc is now over 1500 acres and when fully planted will by over 30,000 acres…
Farming Director Michael Reardon Quote
“Here at Farming Biodiesel Inc we are committed to creating a renewable clean alternative to petro diesel. By reclaiming desert waste lands and turning them into profitable farms the effect is immediate on the local economy, by providing jobs, housing, and health insurance to over 1000 people per acre of farmland. Biodiesel can be mass produced and distributed at a cost of $3.75 per gallon. Farming Biodiesel Inc. is currently involved in 14 projects in 5 different countries, Farming Biodiesel Inc . . . . Encourages every American to research all alternative sources to petro fuels. The only way the United States will become free of petro use for fuel is by educating your self’s and taking action , even if you only write your congress man to support Farming for Biodiesel and alternative fuels.”
farmingbiodiesel.
Mining News-CONSOL Energy and Synthesis Energy Systems Announce Funding of Front-End Engineering Design Package for West Virginia Coal ....
Sponsored Links
CONSOL Energy Inc., the nation’s largest producer of bituminous coal, and Synthesis Energy Systems Inc., a global industrial gasification company, intend to develop through a joint venture their first U.S. coal gasification and liquefaction plant to be located in West Virginia. CONSOL (through its subsidiary Terra Firma Company) and SES have formed Northern Appalachia Fuel LLC (”NAF”), as the company through which the development will occur.
The Board of Directors of CONSOL and SES have authorized funds for development activities, including the front-end engineering design (”FEED”) package. Each member company will contribute equally to this phase of the project. NAF is finalizing agreements with Aker Solutions US Inc., a subsidiary of Aker Solutions ASA (OSL: AKSO), to perform the FEED. The FEED will include a carbon management strategy that will focus on carbon sequestration in a deep saline aquifer. At a later date, NAF will file for environmental and other permits necessary for the construction of the plant.
CONSOL and SES propose to site the plant near Benwood, West Virginia, south of Wheeling. It is expected that the plant will be a ‘mine mouth’ facility with feedstock supplied directly from CONSOL’s nearby Shoemaker complex. The feedstock will be a blend of run of mine coal and coal otherwise not recovered in the normal preparation process. Coal will be converted to syngas utilizing SES’s proprietary U-GAS® technology. It is expected that the syngas will be used to produce approximately 720,000 metric tons per year of methanol that can be used as a feedstock for the chemical industry. It is also expected that the project will be capable of converting methanol production to approximately 100 million gallons/year of 87 octane gasoline. NAF is currently negotiating with ExxonMobil Research and Engineering to license their proprietary methanol-to-gasoline technology. As envisioned, the project will include a river terminal facility, where products will be stored in tanks for off-loading into barges for ultimate delivery.
CONSOL and SES also have signed a memorandum of understanding (”MOU”) with the State of West Virginia and its partner, the Regional Economic Development Partnership (”RED”), a private West Virginia non-profit development corporation focused on generating business opportunities through job creation and economic stimulus in the Ohio, Marshall and Wetzel counties of West Virginia. Under the provisions of the MOU, the State and RED will provide financing and tax incentives to the project over a 10-year period.
“This project has the potential to transform West Virginia from a major coal producing state to a national energy center as well,” said J. Brett Harvey, CONSOL Energy President and Chief Executive Officer. “By converting some of our region’s abundant, high-Btu coal into gases and liquids, not only will we create economic value for the state, but we will help West Virginia become the linchpin of American energy security.”
Harvey thanked both the State of West Virginia and the RED for their assistance and support of the project. “In every conversation I have had with Governor Manchin in recent years, we have talked about ways to leverage West Virginia’s coal position into a national energy leadership position — a position in which jobs, economic growth, and the enhancement of American energy security flow from the harnessing of West Virginia’s resources and the ‘can-do’ attitude of its people,” Harvey said. “His vision is sound. With West Virginia’s help, our success with this plant will make the vision a reality.”
“We are proud of the progress we have made to-date toward the development of the first industrial size U-GAS® gasification plant in the United States and we appreciate the support that the State of West Virginia and the RED have demonstrated for this initiative,” said Tim Vail, President and Chief Executive Officer of SES. “Together with our partner, CONSOL Energy, SES will be taking a first step toward securing energy independence in the U.S. as we convert raw and residual coal from CONSOL’s Shoemaker mine and plant into gasoline in an environmentally responsible and cost efficient manner,” Vail added.
“It’s clearer than ever that one of the biggest issues our state and country faces is meeting our energy needs,” said West Virginia Gov. Joe Manchin. “Technological solutions like this plant at Benwood will lead to more environmentally friendly ways to use our coal and hold the key to America’s energy security. I am committed to making West Virginia the leader in clean coal technology and the construction of clean coal power and fuel liquefaction plants. We have the resources and expertise to realize our goal.”
Both of West Virginia’s United States Senators voiced their support as well. “America cannot meet its energy needs,” said Senator Robert C. Byrd. “West Virginia has the coal, the brains, and the determination to meet that challenge and demonstrate to the world that we intend to be part of the solution.”
Senator Jay Rockefeller also added his support. “We are in the midst of a serious energy crisis in America. Today, with this project and others in the works, West Virginia is announcing to the world that we’re not waiting around anymore,” Rockefeller said. “We’re getting started with a CTL plant that will create jobs, meet modern environmental standards, and develop our most abundant domestic resource — coal. This plant will help put our state on the path to energy security and greater economic growth.”
Mining News-CONSOL Energy and Synthesis Energy Systems Announce Funding of Front-End Engineering Design Package for West Virginia Coal Gasification Project
CONSOL Energy Inc., the nation’s largest producer of bituminous coal, and Synthesis Energy Systems Inc., a global industrial gasification company, intend to develop through a joint venture their first U.S. coal gasification and liquefaction plant to be located in West Virginia. CONSOL (through its subsidiary Terra Firma Company) and SES have formed Northern Appalachia Fuel LLC (”NAF”), as the company through which the development will occur.
The Board of Directors of CONSOL and SES have authorized funds for development activities, including the front-end engineering design (”FEED”) package. Each member company will contribute equally to this phase of the project. NAF is finalizing agreements with Aker Solutions US Inc., a subsidiary of Aker Solutions ASA (OSL: AKSO), to perform the FEED. The FEED will include a carbon management strategy that will focus on carbon sequestration in a deep saline aquifer. At a later date, NAF will file for environmental and other permits necessary for the construction of the plant.
CONSOL and SES propose to site the plant near Benwood, West Virginia, south of Wheeling. It is expected that the plant will be a ‘mine mouth’ facility with feedstock supplied directly from CONSOL’s nearby Shoemaker complex. The feedstock will be a blend of run of mine coal and coal otherwise not recovered in the normal preparation process. Coal will be converted to syngas utilizing SES’s proprietary U-GAS® technology. It is expected that the syngas will be used to produce approximately 720,000 metric tons per year of methanol that can be used as a feedstock for the chemical industry. It is also expected that the project will be capable of converting methanol production to approximately 100 million gallons/year of 87 octane gasoline. NAF is currently negotiating with ExxonMobil Research and Engineering to license their proprietary methanol-to-gasoline technology. As envisioned, the project will include a river terminal facility, where products will be stored in tanks for off-loading into barges for ultimate delivery.
CONSOL and SES also have signed a memorandum of understanding (”MOU”) with the State of West Virginia and its partner, the Regional Economic Development Partnership (”RED”), a private West Virginia non-profit development corporation focused on generating business opportunities through job creation and economic stimulus in the Ohio, Marshall and Wetzel counties of West Virginia. Under the provisions of the MOU, the State and RED will provide financing and tax incentives to the project over a 10-year period.
“This project has the potential to transform West Virginia from a major coal producing state to a national energy center as well,” said J. Brett Harvey, CONSOL Energy President and Chief Executive Officer. “By converting some of our region’s abundant, high-Btu coal into gases and liquids, not only will we create economic value for the state, but we will help West Virginia become the linchpin of American energy security.”
Harvey thanked both the State of West Virginia and the RED for their assistance and support of the project. “In every conversation I have had with Governor Manchin in recent years, we have talked about ways to leverage West Virginia’s coal position into a national energy leadership position — a position in which jobs, economic growth, and the enhancement of American energy security flow from the harnessing of West Virginia’s resources and the ‘can-do’ attitude of its people,” Harvey said. “His vision is sound. With West Virginia’s help, our success with this plant will make the vision a reality.”
“We are proud of the progress we have made to-date toward the development of the first industrial size U-GAS® gasification plant in the United States and we appreciate the support that the State of West Virginia and the RED have demonstrated for this initiative,” said Tim Vail, President and Chief Executive Officer of SES. “Together with our partner, CONSOL Energy, SES will be taking a first step toward securing energy independence in the U.S. as we convert raw and residual coal from CONSOL’s Shoemaker mine and plant into gasoline in an environmentally responsible and cost efficient manner,” Vail added.
“It’s clearer than ever that one of the biggest issues our state and country faces is meeting our energy needs,” said West Virginia Gov. Joe Manchin. “Technological solutions like this plant at Benwood will lead to more environmentally friendly ways to use our coal and hold the key to America’s energy security. I am committed to making West Virginia the leader in clean coal technology and the construction of clean coal power and fuel liquefaction plants. We have the resources and expertise to realize our goal.”
Both of West Virginia’s United States Senators voiced their support as well. “America cannot meet its energy needs,” said Senator Robert C. Byrd. “West Virginia has the coal, the brains, and the determination to meet that challenge and demonstrate to the world that we intend to be part of the solution.”
Senator Jay Rockefeller also added his support. “We are in the midst of a serious energy crisis in America. Today, with this project and others in the works, West Virginia is announcing to the world that we’re not waiting around anymore,” Rockefeller said. “We’re getting started with a CTL plant that will create jobs, meet modern environmental standards, and develop our most abundant domestic resource — coal. This plant will help put our state on the path to energy security and greater economic growth.”
Mining News-Investing in Uranium Stocks: The One Commodity Practically Guaranteed To Continue Increasing in Value…
We’re on the verge of the world’s last energy bull market. And just as uranium’s momentum seemed to peak . . .
In October 2006, disaster struck at one of the world’s largest uranium mines–Cameco’s Cigar Lake project. The underground uranium mine was completely flooded . . . and Cameco was forced to cease all production. This mine had been expected to supply 17% of the world’s uranium demand. While Cameco hopes to resume production at Cigar Lake again in 2011, the outlook is grim. They’re having a serious problem repairing the damage and may have lost the mine completely.
Fact is, uranium production today is so tight, it can only satisfy 60% of global demand–with no relief in sight. This shortage has propelled uranium prices to a record of $138/lb. last June . . . jumping 575% in just two years!
In the wake of “yellowcake” uranium’s dramatic rise, a multitude of uranium companies were started. But most of these companies don’t even plan to bring their mines into production . . . and are doomed to fail. Yet here’s the rub for investors looking to invest in uranium stocks and funds. . . a few small uranium companies are on their way to triple-digit gains.
To get the full details in our new uranium stock report, simply sign up for the free Energy and Capital e-Letter, a daily advisory on the fast-moving profits in the energy stock sector, written and edited by energy and natural resources investing experts Chris Nelder and Keith Kohl.
You’ll get our latest uranium investment forecast report, including the following urgent details:
The two uranium mining stocks that your investment portfolio cannot do without.
Why the price of uranium is expected to more than double by the end of next year.
How to spot international uranium corporation stocks with savvy management, proven track records and strong land packages in geopolitically safe countries.
_____________________
Learn how to get your free copy of the new book, Profit from the Peak (featured on CNBC and Fox News), after signing up for the Energy & Capital e-Letter.After gaining access to your uranium report, you’ll begin receiving the Energy and Capital e-Letter, delivered to your inbox five times a week. In each issue, you’ll discover the foresight and vision to exploit the investment opportunities of a post-oil economy.
Here are some recent Energy and Capital issues our readers picked as their favorites:
Uranium Prices in 2008: $255/lb. Is Just the Beginning for Uranium Stocks
Investing in Water: Why Water Is One of Today’s Best Investment Plays… and How To Profit Right Now
The Blueprint for the Energy Crisis Solution & How To Make a Fortune in the Process
Putting Peak Oil to the Test: 3 Ways to Invest in Energy Prices
The Future: Steam-Powered Cars… Investing in Geothermal Resources that Benefit the Environment
Today, energy is at a crossroads. Like a lit fuse, a catastrophe of immeasurable proportions is looming. And while the energy crisis is beginning to make its way into the media limelight, few are aware of the true scope and magnitude of this crisis.
Become an Energy and Capital member today. It’s free, and there’s absolutely no obligation, ever. And don’t forget to get rich this time!
In October 2006, disaster struck at one of the world’s largest uranium mines–Cameco’s Cigar Lake project. The underground uranium mine was completely flooded . . . and Cameco was forced to cease all production. This mine had been expected to supply 17% of the world’s uranium demand. While Cameco hopes to resume production at Cigar Lake again in 2011, the outlook is grim. They’re having a serious problem repairing the damage and may have lost the mine completely.
Fact is, uranium production today is so tight, it can only satisfy 60% of global demand–with no relief in sight. This shortage has propelled uranium prices to a record of $138/lb. last June . . . jumping 575% in just two years!
In the wake of “yellowcake” uranium’s dramatic rise, a multitude of uranium companies were started. But most of these companies don’t even plan to bring their mines into production . . . and are doomed to fail. Yet here’s the rub for investors looking to invest in uranium stocks and funds. . . a few small uranium companies are on their way to triple-digit gains.
To get the full details in our new uranium stock report, simply sign up for the free Energy and Capital e-Letter, a daily advisory on the fast-moving profits in the energy stock sector, written and edited by energy and natural resources investing experts Chris Nelder and Keith Kohl.
You’ll get our latest uranium investment forecast report, including the following urgent details:
The two uranium mining stocks that your investment portfolio cannot do without.
Why the price of uranium is expected to more than double by the end of next year.
How to spot international uranium corporation stocks with savvy management, proven track records and strong land packages in geopolitically safe countries.
_____________________
Learn how to get your free copy of the new book, Profit from the Peak (featured on CNBC and Fox News), after signing up for the Energy & Capital e-Letter.After gaining access to your uranium report, you’ll begin receiving the Energy and Capital e-Letter, delivered to your inbox five times a week. In each issue, you’ll discover the foresight and vision to exploit the investment opportunities of a post-oil economy.
Here are some recent Energy and Capital issues our readers picked as their favorites:
Uranium Prices in 2008: $255/lb. Is Just the Beginning for Uranium Stocks
Investing in Water: Why Water Is One of Today’s Best Investment Plays… and How To Profit Right Now
The Blueprint for the Energy Crisis Solution & How To Make a Fortune in the Process
Putting Peak Oil to the Test: 3 Ways to Invest in Energy Prices
The Future: Steam-Powered Cars… Investing in Geothermal Resources that Benefit the Environment
Today, energy is at a crossroads. Like a lit fuse, a catastrophe of immeasurable proportions is looming. And while the energy crisis is beginning to make its way into the media limelight, few are aware of the true scope and magnitude of this crisis.
Become an Energy and Capital member today. It’s free, and there’s absolutely no obligation, ever. And don’t forget to get rich this time!
Subscribe to:
Posts (Atom)