Fossil fuels

June 17, 2008 -- While John McCain likes to talk tough about energy independence and renewable energy, John McCain today will cave in to his friends in the oil and gas industry. Despite supporting a moratorium on off-shore drilling during his last presidential campaign and opposing offshore drilling in places like Florida, North Carolina and Oregon, Senator McCain will call for the elimination of the moratorium during his remarks in Houston today.

Oil spill cleanup crew: Photo by ex.libris (CC)    » read more »

Oil is fueling an economic resurgence in Kansas

16 June 2008 -- The world's largest oil exporter, Saudi Arabia, plans to increase its oil production by 200,000 barrels a day, to a total of 9.7 million barrels a day, in an effort to ease soaring world oil prices.

Oil-consuming nations have been pressing the Saudis to pump more oil for some time, but members of the Organization of Petroleum Exporting Countries say a shortage of crude oil is not the problem. OPEC says high prices are caused by the weak dollar, speculators and international political tensions.    » read more »

Monte Carlo and Forecasting Hurricanes

The gaming rooms at Monaco’s famous Monte Carlo Casino resonate with people trying their luck at the baccarat, poker, and craps tables. No one knows who will break the bank or who will go home broke. Although wise gamblers carefully consider the odds, or estimates of expected results, when placing their bets, they also understand there’s no such thing as a “sure thing” in a casino.    » read more »

June 13, 2008 -- JEFFERSON CITY – In a letter to area representatives today, Missouri Governor Matt Blunt noted it is in Missouri’s best interest to leave in place the state’s E-10 standard in the Kansas City area. The renewable fuel standard, which requires most gasoline sold to contain at least 10 percent ethanol, boasts advantages for both the environment and Missourians’ pocketbooks.

“We have reviewed the request for a waiver of the E-10 standard in the Kansas City area,” Gov. Blunt said. “After thorough consideration of all aspects of this waiver request, I have decided it is in the best interest of the state to not issue the waiver.”    » read more »

Biden: “We need diplomacy to forge a common strategy among energy consuming countries in Europe, a shared effort that can confront Russian dominance.”

June 12, 2008 -- Washington, DC – Chairman of the Senate Foreign Relations Committee Joseph R. Biden, Jr. (D-DE) held a hearing this afternoon entitled, “Oil, Oligarchs, and Opportunity: Energy from Central Asia to Europe” to examine Russia's use of its enormous oil and gas reserves, and regional pipeline system, to expand its global political influence and economic leverage.

Russian oil pump: Photo by Amanda Graham (CC)    » read more »

06 June 2008 -- Friday was a very volatile day in financial markets as the oil price rebounded to gain over ten dollars a barrel while US stock prices plummeted following the report of a sharp rise in unemployment.

Oil soared after an Israeli politician raised the specter of an Israeli military strike on Iran, the second largest OPEC oil producer.

Walla Walla, Washington gas price sign: Photo by Peter Bulthuis (CC)

In New York crude oil rose eight percent, or $10.75, to a record over $138 a barrel. The rise followed a five percent gain on Thursday, bringing oil's two-day advance to a stunning $16.    » read more »

BURLINGTON, June 2 – Senator Bernie Sanders (I-Vt.) said today that excessive speculation on oil futures by Wall Street hedge funds and such major financial investment houses as Goldman Sachs and J.P. Morgan Chase are driving oil and gas prices much higher than they should be based on supply and demand fundamentals.

Gas prices in Elmont, New York, June 2, 2008: Photo by scarlatti2004 (CC)    » read more »

“I think it is vital that we move ahead on this issue, and I intend to vote ‘yes’ on the motion to proceed.”

Washington, D.C. -- June 2, 2008 -- Senator Arlen Specter (R-Pa.) today spoke on the floor of the U.S. Senate in regards to the current debate on the Lieberman-Warner “Climate Security Act” (S.3036).

A transcript of his floor statement follows. The extensive floor statement he references in his speech is attached.

“Mr. President, I thank my colleagues for squeezing me in for five minutes. I have sought this time to talk very briefly about the Bingaman-Specter bill which is aimed at solving the problem of global warming, but is somewhat more moderate than the Warner-Lieberman bill.    » read more »

DOE Report Shows Rapidly Growing U.S. Wind Power Market

May 29, 2008 -- WASHINGTON – The U.S. Department of Energy (DOE) today released the 2007 edition of its Annual Report on U.S. Wind Power Installation, Cost, and Performance Trends, which provides a comprehensive overview of developments in the rapidly evolving U.S. wind power market.

A wind farm in Texas: Photo by fieldsbh (CC)    » read more »

Good, Better, and Best-A Comparison of Weekly, Monthly, and Annual Data

When buyers are confronted with a major purchase, they often weigh their options by considering whether to buy a “good,” “better,” or “best” product. All three have advantages and disadvantages. The same holds true when using Energy Information Administration (EIA) petroleum supply data because analysts have the option of using weekly, monthly, or annual data, depending on their needs.

As highlighted in the recently published article Accuracy of Petroleum Supply Data, oil data collected by the EIA showed an improvement in the accuracy of the 2006 data from initial estimates (weekly), to interim values (monthly), to final values (annual).    » read more »

May 30, 2008 -- ST. PETERSBURG – Florida Governor Charlie Crist today joined Jeff Lyash, president and chief executive officer of Progress Energy Florida, and community leaders to explore possibilities for diversifying technology in Florida’s energy future.

They unveiled plans for Sustainable Electrical Energy Delivery Systems (SEEDS), innovative renewable energy technology that will be evaluated at two St. Petersburg sites including the University of South Florida St. Petersburg and Albert Whitted Park. The sites will serve as research hubs for unique technology that could be used as energy storage for future “Smart Grid” power systems.    » read more »

May 27, 2008 -- Following is the text of UN Secretary-General Ban Ki-Moon’s message for World Environment Day 2008, to be observed on 5 June:

Addiction is a terrible thing. It consumes and controls us, makes us deny important truths and blinds us to the consequences of our actions. Our world is in the grip of a dangerous carbon habit.

UN Secretary-General Ban Ki-Moon Meets Earthquake Rescuers, China: UN Photo/Evan Schneider    » read more »

Memorial Day Gasoline Prices

Despite cool weather along the East Coast over the past several weeks, Memorial Day weekend, the unofficial start to the summer driving season is upon us. Some may interpret recent increases in gasoline prices as yet another manifestation of a long-standing tendency for gasoline prices to rise dramatically in the days before the holiday weekend.

Memorial Day gas prices: DOE chart    » read more »

Gas Stations Must Request Temporary License from Department of Agriculture

May 23, 2008 -- HARRISBURG – With gas prices exceeding $4 per gallon in some areas, older fuel pumps may display half gallon prices in coming weeks, said Pennsylvania Governor Edward G. Rendell today. The total cost of gas will remain the same.

Old gas pump: Photo by Bitter Girl (CC)    » read more »

WASHINGTON -- May 21, 2008 – Senate Judiciary Committee Chairman Patrick Leahy (D-Vt.) convened a hearing this morning to examine the explosive rise in oil prices in recent months. The hearing featured testimony from executives of five major oil companies – ExxonMobil, ConocoPhillips, Chevron, BP America and Shell.

Exxon building, Houston, Texas: Photo by Tom Haymes (CC)    » read more »