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        <title>OilPrice.com On the Street</title>
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        <link>http://oilprice.com/</link>
        <lastBuildDate>Fri, 25 May 2012 12:29:17 GMT</lastBuildDate>
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            <title>The Staggering Scale of Oil Theft in Nigeria</title>
            <link>http://oilprice.com/Energy/Crude-Oil/The-Staggering-Scale-of-Oil-Theft-in-Nigeria.html</link>
            <description><![CDATA[That corruption is associated with oil production is acknowledged to be a worldwide problem.But the scale of corruption in Africa is in a class by itself, particularly in Nigeria. As black Africa’s largest oil producer, OPEC member Nigeria currently exports just over two millions barrels per day (bpd), and for decades this has proven irresistible to the country’s corrupt elements.The scope of the thievery is staggering. In October 2006 Nuhu Ribadu, head of Nigeria’s Economic and Financial Crimes Commission (EFCC), stated that…<p><a href="http://oilprice.com/Energy/Crude-Oil/The-Staggering-Scale-of-Oil-Theft-in-Nigeria.html">Read more...</a></p>]]></description>
            <author>admin@namecake.com (John Daly)</author>
            <pubDate>Thu, 24 May 2012 22:49:38 GMT</pubDate>
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            <title>Humanity is Reaching its Limits - Oil, Debt, Population, etc.</title>
            <link>http://oilprice.com/Energy/Energy-General/Humanity-is-Reaching-its-Limits-Oil-Debt-Population-etc.html</link>
            <description><![CDATA[The world is clearly reaching many limits. This graphic below shows how I see man interacting with natural systems, back before man discovered fire and back before man became intelligent enough to kill off whole species.Figure 1. My view of man’s relationship to natural systems, in the beginning.In these earliest days, human systems were a part of the natural system. Humans behaved like other animals, and fit easily into the natural order. There weren’t many humans–probably under 100,000 total in the whole world.This is the way…<p><a href="http://oilprice.com/Energy/Energy-General/Humanity-is-Reaching-its-Limits-Oil-Debt-Population-etc.html">Read more...</a></p>]]></description>
            <author>tverberg@oilprice.com (Gail Tverberg)</author>
            <pubDate>Thu, 24 May 2012 22:37:35 GMT</pubDate>
            <guid isPermaLink="false">http://oilprice.com/Energy/Energy-General/Humanity-is-Reaching-its-Limits-Oil-Debt-Population-etc.html</guid>
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            <title>New Directions for North American Energy Infrastructure</title>
            <link>http://oilprice.com/Energy/Energy-General/New-Directions-for-North-American-Energy-Infrastructure.html</link>
            <description><![CDATA[On Thursday, May 17th the Financial Times reported that Royal Dutch Shell CEO Peter Voser has said he expects US natural gas prices to double by 2015, but remain under pressure in the short term. Voser made these comments based on the fact that he sees more and more transportation options stemming from NatGas. The recent low in the price of NatGas of $1.90 on April 20th is probably the lowest price of the year, due to production shut-ins triggered after the closes below $2 from the 17th to the 20th of April.Voser is correct in his assumption that…<p><a href="http://oilprice.com/Energy/Energy-General/New-Directions-for-North-American-Energy-Infrastructure.html">Read more...</a></p>]]></description>
            <author> (Hadaf Zubi)</author>
            <pubDate>Thu, 24 May 2012 22:22:16 GMT</pubDate>
            <guid isPermaLink="false">http://oilprice.com/Energy/Energy-General/New-Directions-for-North-American-Energy-Infrastructure.html</guid>
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            <title>Federal Support needed as Consumers want Clean Energy without the High Prices</title>
            <link>http://oilprice.com/Alternative-Energy/Renewable-Energy/Federal-Support-needed-as-Consumers-want-Clean-Energy-without-the-High-Prices.html</link>
            <description><![CDATA[Clean energy is something everyone is ‘for’.  Few people are in favour of dirty energy.  But the problem is the definition of what is clean depends upon who you ask.  We will say we are in favour of clean renewable energy, when polled, until a wind producer tries to site a wind turbine near us, or spreads out a sea of photovoltaic panels across the desert—or worse says a high voltage transmission line is needed to bring that clean, renewable energy from its remote location to serve demand in the load centres of…<p><a href="http://oilprice.com/Alternative-Energy/Renewable-Energy/Federal-Support-needed-as-Consumers-want-Clean-Energy-without-the-High-Prices.html">Read more...</a></p>]]></description>
            <author>huntga@oilprice.com (Gary Hunt)</author>
            <pubDate>Thu, 24 May 2012 22:19:17 GMT</pubDate>
            <guid isPermaLink="false">http://oilprice.com/Alternative-Energy/Renewable-Energy/Federal-Support-needed-as-Consumers-want-Clean-Energy-without-the-High-Prices.html</guid>
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            <title>Lunch with Paul Krugman</title>
            <link>http://oilprice.com/Finance/the-Economy/Lunch-with-Paul-Krugman.html</link>
            <description><![CDATA[The first thing I noticed when Paul walked in was the few extra pounds and silvery tinge to his hair he acquired since I saw him last. He&#039;s clearly spending too much time behind a computer writing those acidic columns for the New York Times. We&#039;re all short dated options in the end, I thought.We met at my favourite San Francisco restaurant, Gary Danko&#039;s (click here for their site at http://www.garydanko.com/), where one can get a once in a lifetime, bucket list type meal for about $300 for two, but only if you get the cheaper wine. Ideally located…<p><a href="http://oilprice.com/Finance/the-Economy/Lunch-with-Paul-Krugman.html">Read more...</a></p>]]></description>
            <author> (Mad Hedge Fund Trader)</author>
            <pubDate>Thu, 24 May 2012 22:14:25 GMT</pubDate>
            <guid isPermaLink="false">http://oilprice.com/Finance/the-Economy/Lunch-with-Paul-Krugman.html</guid>
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            <title>How Fracking Threatens the Health of the Mortgage Industry</title>
            <link>http://oilprice.com/Energy/Natural-Gas/How-Fracking-Threatens-the-Health-of-the-Mortgage-Industry.html</link>
            <description><![CDATA[One fact ought to tell you all you need to know about the risks faced by homeowners signing leases for natural gas drilling on their property: Wells Fargo &amp; Company, both the largest home mortgage lender in the United States and a major lender to the country&#039;s second largest producer of natural gas, Chesapeake Energy Corp., refuses to make home loans for properties encumbered with natural gas drilling leases.This salient fact comes from an article (PDF) written for the New York State Bar Association Journal by attorney Elisabeth N. Radow. Written…<p><a href="http://oilprice.com/Energy/Natural-Gas/How-Fracking-Threatens-the-Health-of-the-Mortgage-Industry.html">Read more...</a></p>]]></description>
            <author>cobbi@oilprice.com (Kurt Cobb)</author>
            <pubDate>Thu, 24 May 2012 22:03:38 GMT</pubDate>
            <guid isPermaLink="false">http://oilprice.com/Energy/Natural-Gas/How-Fracking-Threatens-the-Health-of-the-Mortgage-Industry.html</guid>
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            <title>Clean Tech Industry Needs Federal Cash due to Lack of Private Investors</title>
            <link>http://oilprice.com/Alternative-Energy/Renewable-Energy/Clean-Tech-Industry-Needs-Federal-Cash-due-to-Lack-of-Private-Investors.html</link>
            <description><![CDATA[The US government must step in to finance clean energy research and development as the private markets continue to shy away from such investments, experts said.Energy innovators are being thwarted by a lack of financing at key stages of development, finding themselves in the ‘valley of death’, said Norman Augustine, the retired chairman and CEO of Lockheed Martin based in Bethesda, Maryland and a member of the American Energy Innovation Council, a coalition of seven business leaders that recently put out a report about the government’s…<p><a href="http://oilprice.com/Alternative-Energy/Renewable-Energy/Clean-Tech-Industry-Needs-Federal-Cash-due-to-Lack-of-Private-Investors.html">Read more...</a></p>]]></description>
            <author>envfinan@oilprice.com (Environmental Finance)</author>
            <pubDate>Thu, 24 May 2012 21:56:52 GMT</pubDate>
            <guid isPermaLink="false">http://oilprice.com/Alternative-Energy/Renewable-Energy/Clean-Tech-Industry-Needs-Federal-Cash-due-to-Lack-of-Private-Investors.html</guid>
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            <title>Underground Pipe has been Leaking Jet Fuel for 40 Years at US Air Force Base</title>
            <link>http://oilprice.com/Latest-Energy-News/World-News/Underground-Pipe-has-been-Leaking-Jet-Fuel-for-40-Years-at-US-Air-Force-Base.html</link>
            <description><![CDATA[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…<p><a href="http://oilprice.com/Latest-Energy-News/World-News/Underground-Pipe-has-been-Leaking-Jet-Fuel-for-40-Years-at-US-Air-Force-Base.html">Read more...</a></p>]]></description>
            <author>kennedyc@oilprice.com (Charles Kennedy)</author>
            <pubDate>Thu, 24 May 2012 21:54:53 GMT</pubDate>
            <guid isPermaLink="false">http://oilprice.com/Latest-Energy-News/World-News/Underground-Pipe-has-been-Leaking-Jet-Fuel-for-40-Years-at-US-Air-Force-Base.html</guid>
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            <title>Europe set to Spend a Record $500 Billion on Oil Imports this Year</title>
            <link>http://oilprice.com/Latest-Energy-News/World-News/Europe-set-to-Spend-a-Record-500-Billion-on-Oil-Imports-this-Year.html</link>
            <description><![CDATA[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 is predicted…<p><a href="http://oilprice.com/Latest-Energy-News/World-News/Europe-set-to-Spend-a-Record-500-Billion-on-Oil-Imports-this-Year.html">Read more...</a></p>]]></description>
            <author>peixej@oilprice.com (Joao Peixe)</author>
            <pubDate>Thu, 24 May 2012 21:52:28 GMT</pubDate>
            <guid isPermaLink="false">http://oilprice.com/Latest-Energy-News/World-News/Europe-set-to-Spend-a-Record-500-Billion-on-Oil-Imports-this-Year.html</guid>
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            <title>Solar Trade Wars: Victory for US Manufacturers, Loss for Solar Overall?</title>
            <link>http://oilprice.com/Alternative-Energy/Solar-Energy/Solar-Trade-Wars-Victory-for-US-Manufacturers-Loss-for-Solar-Overall.html</link>
            <description><![CDATA[Solar manufacturing lobbyists have won the latest round of a trade war with China, but the entire solar industry could pay dearly for a victory that could see heavy US tariffs on Chinese solar panels make solar pricing inaccessible and lead to a significant loss of industry jobs.In the end, it comes down to the fact that solar power is finally becoming affordable and widely accessible, which is good news for green energy ambitions; but that good news is coming at the expense of US manufacturers. The tariffs may turn the tables in favor of the manufacturers…<p><a href="http://oilprice.com/Alternative-Energy/Solar-Energy/Solar-Trade-Wars-Victory-for-US-Manufacturers-Loss-for-Solar-Overall.html">Read more...</a></p>]]></description>
            <author>corporate@oilprice.com (Jen Alic)</author>
            <pubDate>Wed, 23 May 2012 22:36:17 GMT</pubDate>
            <guid isPermaLink="false">http://oilprice.com/Alternative-Energy/Solar-Energy/Solar-Trade-Wars-Victory-for-US-Manufacturers-Loss-for-Solar-Overall.html</guid>
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            <title>Megrahi&#039;s Death Only Beginning in Libyan Oil Saga</title>
            <link>http://oilprice.com/Energy/Energy-General/Megrahis-Death-Only-Beginning-in-Libyan-Oil-Saga.html</link>
            <description><![CDATA[Scottish authorities this week said the death of convicted Lockerbie bomber Abdelbaset al-Megrahi puts an end to conspiracy theories surrounding his controversial release in 2009. Scottish authorities insisted his release was on compassionate grounds because of a terminal prostate cancer diagnosis. Megrahi died this week at his home in Tripoli of cancer. Given the series of suspicions surrounding not only former Libyan officials, but also the role of European energy countries in Libya, Megrahi may have taken a few national secrets with him to the…<p><a href="http://oilprice.com/Energy/Energy-General/Megrahis-Death-Only-Beginning-in-Libyan-Oil-Saga.html">Read more...</a></p>]]></description>
            <author>dg@oilprice.com (Daniel J. Graeber)</author>
            <pubDate>Wed, 23 May 2012 22:33:54 GMT</pubDate>
            <guid isPermaLink="false">http://oilprice.com/Energy/Energy-General/Megrahis-Death-Only-Beginning-in-Libyan-Oil-Saga.html</guid>
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            <title>OPEC&#039;s View of the World Oil Market</title>
            <link>http://oilprice.com/Energy/Crude-Oil/OPECs-View-of-the-World-Oil-Market.html</link>
            <description><![CDATA[It is interesting to read the viewpoint of OPEC each month, as it relates to global oil supply, and the numbers that they rely on to estimate how much production that will be required.  For 2012, for example, they now see no need to increase production above 30 mbd, (though it averaged 31.62 mbd in April, when NGL and non-conventional sources are included) with adequate production growth to meet demand (some 0.6 mbd) coming from non-OPEC sources that are anticipated to average 53 mbd this year. At present supply is seen as exceeding demand,…<p><a href="http://oilprice.com/Energy/Crude-Oil/OPECs-View-of-the-World-Oil-Market.html">Read more...</a></p>]]></description>
            <author>summersd@oilprice.com (Dave Summers)</author>
            <pubDate>Wed, 23 May 2012 22:29:50 GMT</pubDate>
            <guid isPermaLink="false">http://oilprice.com/Energy/Crude-Oil/OPECs-View-of-the-World-Oil-Market.html</guid>
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            <title>The Facts about Fracking Fluid and its Disposal</title>
            <link>http://oilprice.com/Energy/Energy-General/The-Facts-about-Fracking-Fluid-and-its-Disposal.html</link>
            <description><![CDATA[At a recent shale gas symposium in South Africa a question was asked “if hydraulic fracturing is so safe, why do drilling operators working in Pennsylvania’s Marcellus Shale Play dispose the backflow out of state in Ohio.”  The question was satirically proposed by a rather uninformed anti-fracking environmentalist. His point was to show that even a natural gas producing state wants nothing to do with the disposal of the hydraulic fluid’s flowback (chemical-laced wastewater).This discussion addresses the attendees question…<p><a href="http://oilprice.com/Energy/Energy-General/The-Facts-about-Fracking-Fluid-and-its-Disposal.html">Read more...</a></p>]]></description>
            <author>stevensba@oilprice.com (Barry Stevens)</author>
            <pubDate>Wed, 23 May 2012 22:12:32 GMT</pubDate>
            <guid isPermaLink="false">http://oilprice.com/Energy/Energy-General/The-Facts-about-Fracking-Fluid-and-its-Disposal.html</guid>
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            <title>Iran Oil Sanctions After the Baghdad Talks</title>
            <link>http://oilprice.com/Energy/Energy-General/Iran-Oil-Sanctions-After-the-Baghdad-Talks.html</link>
            <description><![CDATA[SituationIran tentatively agreed on 22 May to allow the UN’s nuclear watchdog, the International Atomic Energy Agency (IAEA), to launch inspections of nuclear facilities, while Iran and P5+1 countries began negotiations in Baghdad over Iran’s nuclear program on 23 May, where the West put forward a new proposal for Iran’s consideration. DynamicsThe current heavy-handed US-led sanctions are taking their toll on Iran. Sources on the ground in Iran tell Oilprice.com that the situation is not as grim as US media is depicting it; however,…<p><a href="http://oilprice.com/Energy/Energy-General/Iran-Oil-Sanctions-After-the-Baghdad-Talks.html">Read more...</a></p>]]></description>
            <author>corporate@oilprice.com (Jen Alic)</author>
            <pubDate>Wed, 23 May 2012 22:07:54 GMT</pubDate>
            <guid isPermaLink="false">http://oilprice.com/Energy/Energy-General/Iran-Oil-Sanctions-After-the-Baghdad-Talks.html</guid>
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            <title>Pakistan&#039;s Abundance in Renewable Energy</title>
            <link>http://oilprice.com/Alternative-Energy/Renewable-Energy/Pakistans-Abundance-in-Renewable-Energy.html</link>
            <description><![CDATA[Pakistan&#039;s vast renewable energy potential remains largely untapped for a mix of reasons, twin analyses show.The analyses, to be published in the June 2012 issue of Renewable and Sustainable Energy Reviews, say exploiting Pakistan’s massive, unexploited renewable energy sources, particularly hydroelectric and solar, can help plug its widening energy deficit and improve livelihoods.The studies focus on solar energy, particularly in the Thar and Cholistan deserts and also river waters, that could be channelled into small hydropower plants of…<p><a href="http://oilprice.com/Alternative-Energy/Renewable-Energy/Pakistans-Abundance-in-Renewable-Energy.html">Read more...</a></p>]]></description>
            <author>scidev@oilprice.com (SciDev SciDev)</author>
            <pubDate>Wed, 23 May 2012 22:05:51 GMT</pubDate>
            <guid isPermaLink="false">http://oilprice.com/Alternative-Energy/Renewable-Energy/Pakistans-Abundance-in-Renewable-Energy.html</guid>
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            <title>TAPI Pipeline: A Security Nightmare All Around</title>
            <link>http://oilprice.com/Latest-Energy-News/World-News/TAPI-Pipeline-A-Security-Nightmare-All-Around.html</link>
            <description><![CDATA[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…<p><a href="http://oilprice.com/Latest-Energy-News/World-News/TAPI-Pipeline-A-Security-Nightmare-All-Around.html">Read more...</a></p>]]></description>
            <author>corporate@oilprice.com (Jen Alic)</author>
            <pubDate>Wed, 23 May 2012 22:04:21 GMT</pubDate>
            <guid isPermaLink="false">http://oilprice.com/Latest-Energy-News/World-News/TAPI-Pipeline-A-Security-Nightmare-All-Around.html</guid>
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            <title>Libya in Dire Straits Ahead of Parliamentary Elections</title>
            <link>http://oilprice.com/Latest-Energy-News/World-News/Libya-in-Dire-Straits-Ahead-of-Parliamentary-Elections.html</link>
            <description><![CDATA[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…<p><a href="http://oilprice.com/Latest-Energy-News/World-News/Libya-in-Dire-Straits-Ahead-of-Parliamentary-Elections.html">Read more...</a></p>]]></description>
            <author>corporate@oilprice.com (Jen Alic)</author>
            <pubDate>Wed, 23 May 2012 22:02:47 GMT</pubDate>
            <guid isPermaLink="false">http://oilprice.com/Latest-Energy-News/World-News/Libya-in-Dire-Straits-Ahead-of-Parliamentary-Elections.html</guid>
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            <title>Report Proves that Large Amounts of Methane are Released as the Arctic Ice Melts</title>
            <link>http://oilprice.com/Latest-Energy-News/World-News/Report-Proves-that-Large-Amounts-of-Methane-are-Released-as-the-Arctic-Ice-Caps.html</link>
            <description><![CDATA[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…<p><a href="http://oilprice.com/Latest-Energy-News/World-News/Report-Proves-that-Large-Amounts-of-Methane-are-Released-as-the-Arctic-Ice-Caps.html">Read more...</a></p>]]></description>
            <author>burgessj@oilprice.com (James Burgess)</author>
            <pubDate>Wed, 23 May 2012 21:59:37 GMT</pubDate>
            <guid isPermaLink="false">http://oilprice.com/Latest-Energy-News/World-News/Report-Proves-that-Large-Amounts-of-Methane-are-Released-as-the-Arctic-Ice-Caps.html</guid>
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            <title>Yemen Set to Implode as AQAP Steps Up Offensive Amid Struggle to Control Oil</title>
            <link>http://oilprice.com/Latest-Energy-News/World-News/Yemen-Set-to-Implode-as-AQAP-Steps-Up-Offensive-Amid-Struggle-to-Control-Oil.html</link>
            <description><![CDATA[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…<p><a href="http://oilprice.com/Latest-Energy-News/World-News/Yemen-Set-to-Implode-as-AQAP-Steps-Up-Offensive-Amid-Struggle-to-Control-Oil.html">Read more...</a></p>]]></description>
            <author>corporate@oilprice.com (Jen Alic)</author>
            <pubDate>Wed, 23 May 2012 21:58:09 GMT</pubDate>
            <guid isPermaLink="false">http://oilprice.com/Latest-Energy-News/World-News/Yemen-Set-to-Implode-as-AQAP-Steps-Up-Offensive-Amid-Struggle-to-Control-Oil.html</guid>
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            <title>New Analysis proves Keystone XL will Increase Gasoline Prices in the US</title>
            <link>http://oilprice.com/Latest-Energy-News/World-News/New-Analysis-proves-Keystone-XL-will-Increase-Gasoline-Prices-in-the-US.html</link>
            <description><![CDATA[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…<p><a href="http://oilprice.com/Latest-Energy-News/World-News/New-Analysis-proves-Keystone-XL-will-Increase-Gasoline-Prices-in-the-US.html">Read more...</a></p>]]></description>
            <author>peixej@oilprice.com (Joao Peixe)</author>
            <pubDate>Wed, 23 May 2012 21:55:57 GMT</pubDate>
            <guid isPermaLink="false">http://oilprice.com/Latest-Energy-News/World-News/New-Analysis-proves-Keystone-XL-will-Increase-Gasoline-Prices-in-the-US.html</guid>
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