Crude oil prices varied during the session Wednesday after the US Energy Information Administration said that oil inventories were up 1.4 million barrels last week to 343 million barrels, not as much as the 2.1 million barrel gain which had been expected. Prices rose and fell and by afternoon trade in New York April contracts for

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Chevron, which is the second biggest US oil company, announced today it is looking for a buyer for its refinery in Pembrokeshire. The oil giant, which owns the Texaco filling stations brand, is allowing up to two years for the sale but has told Sky News today that it could not rule out shutting the plant

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This is a guest post by Brian Gordon . If employment is inversely proportional to oil prices (it is), and oil prices are only going to trend up…then employment by necessity is going down. Because oil is so fundamental to our economy, oil price increases ripple through the entire economy. Take food as an example: current factory farming methods are … Read More

Shell’s discounted bid for Arrow reflects the present world oversupply of gas The bid and Arrow’s decision to take it seriously despite the price discount reflect the much more complicated outlook for gas in the wake of the global financial crisis, and after the development of technology that is capable of doubling the world’s gas reserves. There is an awful … Read More

Positive economic data has resulted in a rise in US crude oil today to $82.41 extending last week’s gains. Oil has risen by 18% since early February since investors have become more optimistic that an improvement in the global economy would increase demand for oil. Meanwhile, Brent North Sea crude for April rose 73 cents to $80.62

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After showing you pictures of offshore wind turbine foundations in this story , I am pleased to be able to now post pictures of the above-the-water parts, before their installation at sea: Left: nacelles with the hubs being installed Right: blades (45m long) stacked Part of the Wind power series . More below: If you remember, there were ovality issues … Read More

Hmmm! Well, the tone of some the comments on my last post–dealing with nuclear development of oil shale, both recently and when I initially posted it on The Oil Drum helps illustrate one of the points that I want to make in this, a continuation in the posts on oil shale. The tone was quite negative, in general, with a … Read More

Energy world is in a new mode The title of this year’s conference, “Energy: Building a New Future,” reflects that renewed optimism. But it also suggests that, while the worst of recession may be over, what’s ahead for the industry is unlikely to look anything like the past. That’s true not only in the short term, when the biggest issue … Read More

The following is the prepared text for a talk I gave in the city hall of Eugene Oregon the evening of Feb. 17, 2010. It was organized by two Lane County commissioners and the city mayor and is part of a series on Food Security . My role was to discuss food security in the context of peak oil. This … Read More

The US Energy Information Administration reported Wednesday in its weekly inventories report that crude oil in US storage added 4.1 million barrels last week to 341.6 million barrels, above the expected build of 1.1 million barrels but 3.7 percent below stockpiles last year at this time. Additionally, the EIA said that gasoline inventories were up by

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