Posts Tagged ‘Oil’

C’mon Chuck Schumer, what are you doin for us anyway?

June 1, 2008

On CSPAN 5/21/2008: WASHINGTON, DC: 2 hr. 59 min.: CSPAN3 you will find Senate Judiciary Cmte. hearing on Rising Crude Oil Prices. The oil industry blames the rising price of consumer gasoline on increases in the cost of crude oil. Executives from BP America, Shell Oil Co., Chevron Corp., ConocPhilips Co., and Exxon Mobil Corp. testify today at a Senate Judiciary Cmte. hearing on unrefined petroleum production.
NYS Senator Charles SchumerOK I get the Senate Committee are pointing their collective finger at the panel made up of oil executives, but aren’t the three remaining fingers on the Senate hand pointing back at them?  What is the Senate doing for us on this matter; and the House for the that matter?  Senator Schumer asked the oil compaines how much they are spending on alternative energy research, then said it was not enough.  Well Senator, I voted for you.  With regards to alternative energy research, what are you and your “buddies” in DC doing about alternative energy any way?

Oil Has Two Potential Futures, Shell Strategist Says

April 23, 2008

China Photos People buy diesel oil at a gas station on November 19, 2007 in Wuhan of Hubei Province, China, the world's second largest oil consumer. Getty ImagesFrom NPR Morning Edition, April 22, 2008 click to read more. · As oil prices hit $117 a barrel this month, a forecast from Shell Oil outlines two very different possibilities for the future of the world’s energy supply. Looking out to the year 2050, Shell strategist Jeremy Bentham says demand will go up, while oil supplies will be harder to find. But how nations and companies react is harder to predict.     “We anticipate that you’ll begin to see a plateauing of easily accessible conventional oil and gas around about the 2015, 2020 type of period,” Bentham tells Steve Inskeep.     Bentham outlines two outcomes — one a “scramble” and the other a “blueprint” scenario — for addressing energy needs.     In the scramble scenario, he says, “a focus on supply security drives a lot of decision-making.” For example, China is worried about its future supply of oil, so it decides that it needs to be friendly with Iran. Or the U.S., worried about its supply of oil, holds intensive talks with Saudi Arabia.     “That can kick off a dynamic where the tensions are perceived to be a fight between nations and hence a scramble for supply. The demand side is postponed, in terms of being managed, in that scramble outlook,” Bentham says.      So, a fear of shortage of supply builds up, and the steps to manage the whole energy system holistically aren’t taken, Bentham says. Instead of considering conservation or alternatives, people just grab for oil and other forms of energy.     The “blueprint” scenario, on the other hand, recognizes that forces can combine to affect change. “You see emerging coalitions coming together at the state level but also cross-border” to find solutions, Bentham says.     He points to climate-related legislation in California as an example.     “A set of interests were recognized among technology entrepreneurs and farmers and shrewd politicians which led, in this country in 2006, to the climate-related legislation in California,” he says.

 

Lipstick on a Pig

April 19, 2008

Strip Mining Landscape ImprovementsFrom Energy Tomorrow, click to read more
Demand for energy is rising around the world, according to the U.S. Department of Energy and the International Energy Administration. Data show global demand for oil and natural gas will likely grow 45% by 2030 compared with 2006. The Department of Interior estimates there are 112 billion barrels of technically recoverable oil beneath U.S. federal lands and coastal waters. That’s enough oil to fuel 60 million cars for 60 years, when you take into account the average yield of gasoline from a barrel of crude oil and the average number of gallons of gasoline consumed annually by a passenger vehicle.  Yea OK lets settle.  Let’s do no alternative energy research and besides, strip mining adds so much to the public landscape.  Read related post.

Cry Baby Oil Companies, Go Home to Mommy.

April 2, 2008

Oil chiefs say high prices not our fault
WASHINGTON – By H. JOSEF HEBERT, Associated Press Writer – Don’t blame us, oil industry chiefs told a skeptical Congress. Top executives of the country’s five biggest oil companies said Tuesday they know record fuel prices are hurting people, but they argued it’s not their fault and their huge profits are in line with other industries.  Appearing before a House committee, the executives were pressed to explain why they should continue to get billions of dollars in tax breaks when they made $123 billion last year and motorists are paying record gasoline prices at the pump.  “On April Fool’s Day, the biggest joke of all is being played on American families by Big Oil,” Rep. Edward Markey, D-Mass., said, aiming his remarks at the five executives sitting shoulder-to-shoulder in a congressional hearing room.  “Our earnings, although high in absolute terms, need to be viewed in the context of the scale and cyclical, long-term nature of our industry as well as the huge investment requirements,” said J.S. Simon, senior vice president of Exxon Mobil Corp., which made a record $40 billion last year.