Latest Energy News | World News
-
Underground Pipe has been Leaking Jet Fuel for 40 Years at US Air Force Base
Jet fuel from the Kirtland Air Force Base in Albuquerque has been leaking from 40 years. The leak was first discovered in 1999, and so far 400,000 gallons of fuel have been removed from the area, and efforts to aggressively clean up the problem will continue.State geologist William Moats initially calculated the spill at about 8 million gallons, but after reviewing new data from Air Force monitoring wells he has upped his estimate to 24 million gallons, but has also said that the true extent of the spill can be verified until it has been remediated.The leak is thought to…
-
Europe set to Spend a Record $500 Billion on Oil Imports this Year
Despite recent declines in oil prices, they still remain at incredibly high levels around the world, which has driven up spending on oil for all nations. Europe is set to pay a record amount on oil this year according to IEA executive director Maria Van der Hoeven.The EU is on track to spend more than half a trillion dollars on imported oil in 2012. Between 2000 and 2010 the continent spent an average of $182 billion on oil, last year that figure grew to $488 billion due to high oil prices, but as the prices have continued to grow it…
-
TAPI Pipeline: A Security Nightmare All Around
SituationTurkmenistan has signed an agreement to provide natural gas to Pakistan and Afghanistan, which would supply the Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline. DynamicsProgress on the pipeline has been made under the bite of sanctions on Iran and NATO’s clear ambitions to leave a force behind in Afghanistan strategically located along the planned pipeline route. At the same time, Afghan authorities are ensuring TAPI partners that they have reached an agreement with the Taliban to protect the pipeline from sabotage. The TAPI pipeline will travel through some of Afghanistan’s most insecure territory. The alternative to this route would run through Iran, but a…
-
Libya in Dire Straits Ahead of Parliamentary Elections
SituationLibya’s crude oil output allegedly rises to close to 1.6 billion bpd, but security remains a very fluid thing. Sporadic fighting is taking place throughout the country, including in Tripoli and Benghazi, as the national army faces a challenge in exerting its authority. In the ongoing chaos, oil executive Abdul Majeed Shiha, a director of Akakus Oil Operations, was kidnapped in Tripoli last week by an unidentified armed group. He was released hours later without ransom, though his vehicle and mobile phone were confiscated. The motive of the kidnapping remains unclear and highlights the arbitrary nature of violence that has…
-
Report Proves that Large Amounts of Methane are Released as the Arctic Ice Melts
Greenhouse gases are changing the atmosphere and causing more energy from the sun to be trapped here upon earth, which results in the phenomena known as global warming. CO2 is probably the most famous of the greenhouse gases, but methane is also one of the largest contributors to climate change. A new report in the journal Nature Geoscience offers some of the strongest proof that large amounts of methane are escaping from the Arctic as the ice melts.It is generally accepted that old organic material, from as far back as the last ice age, is trapped across much of the…
-
Yemen Set to Implode as AQAP Steps Up Offensive Amid Struggle to Control Oil
Situation Violent conflict engulfing Yemen moves to the capital city, Sana’a, with a 21 May suicide bombing that killed more than 90 people and wounded well over 200 others during a military parade rehearsal. Al-Qaeda in the Arabian Peninsula (AQAP) claimed responsibility for the parade bombing in apparent retaliation for the government’s attempt to recapture cities lost to al-Qaeda forces, particularly in Abyan province. In the meantime, attacks on the country’s main oil pipeline have generated at least $2.5 billion in oil revenue losses. DynamicsAQAP is stepping up attacks as the US and Saudi Arabia increase their influence in Yemen…
-
New Analysis proves Keystone XL will Increase Gasoline Prices in the US
A new analysis by the Natural Resources Defence Council (NRDC) has found evidence that the Keystone XL pipeline would actually increase the gasoline prices paid by US customers as opposed to reduce the prices as TransCanada, the company looking to build the pipeline, would have us believe.Anthony Swift, an attorney for the NRDC, said that, “the pipeline’s proponents say it’s the solution to high gas prices. The truth is exactly the opposite —the pipeline would raise gas prices. This is one of the most misunderstood issues surrounding this misguided Canadian project.”The Keystone XL pipe expects to transport 830,000 barrels from…
-
What Chesapeake Energy is Really Worth to Investors
Chesapeake Energy recently gave a new investors presentation intending to attract more money. They started off with the statement:“During the past five weeks CHK has withstood an unprecendented negative media campaign,” it says. “While damaging in the short run to our reputation, these attacks have failed, and will continue to fail, to reduce the value of the company’s assets and our long-term attractiveness to investors. At the end of the day, asset value and quality will win and today’s shareholders should be well rewarded.”It claimed that the value of its 6.2 million acres of oil and natural gas rich fields…
-
Energy Storage Operators Trade Electricity to take Advantage of Price Variations
By low, sell high; the basic advise for anyone trying to make any form of profit trading on the markets. It turns out that this advice is also taken by electricity grid operators.Some electric storage technologies can run on timescales such as certain hours of the day, or certain days of the week, meaning that they will only store electricity from the grid at certain times. This allows the storage operators to buy electricity during off-peak times (such as night or at the weekend) when prices are low, and then sell the stored electricity during peak times (daytime and weekdays)…
-
Market for Energy Efficient Homes will be Worth $84 Billion Annually by 2020
According to a new report by Pike Research the market for energy efficient homes will reach an annual value of $84 billion by 2020, and have produced nearly 120 billion square feet of energy efficient residential space.The rise in residential energy consumption, a growing demand on power infrastructures, and concerns over contribution to levels of greenhouse gas emissions, have increased interest in the construction of new energy efficient homes, and retrofits on existing buildings.Due to energy efficiency and carbon mandates the EU is currently the largest market for energy efficient homes, and will continue to grow the most through to…
Commodity Prices
| PRICE | CHG | CHG% | ||
|---|---|---|---|---|
|
Click on |
|||
for detailed price charts.- Site Info
- Terms & Conditions
- Disclaimer
- Privacy Policy
- Sitemap
