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 <title>The Agonist - Global Energy</title>
 <link>http://agonist.org/taxonomy/term/163/all</link>
 <description></description>
 <language>en-US</language>
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 <title>Tea Baggers Target Al Gore</title>
 <link>http://agonist.org/cliff_schecter/20091118/tea_baggers_target_al_gore</link>
 <description>&lt;p&gt;First they organize &lt;a href=&quot;http://www.facebook.com/event.php?eid=170910077794&quot;&gt;a tea bagging of a speech&lt;/a&gt; by Al Gore, then they &lt;a href=&quot;http://www.oregonlive.com/politics/index.ssf/2009/11/vandals_target_keller_auditori.html&quot;&gt;vandalize the venue&lt;/a&gt;. I wonder if &lt;a href=&quot;http://www.huffingtonpost.com/kevin-grandia/energy-industry-front-gro_b_361390.html&quot;&gt;Koch Industries $&lt;/a&gt; paid for the spray paint?&lt;/p&gt;
&lt;p&gt;&lt;span style=&quot;font-style:italic;&quot;&gt;Full Disclosure: While I am not involved with this speech, I do consult for the Alliance for Climate Protection&lt;/span&gt;&lt;/p&gt;
</description>
 <category domain="http://agonist.org/topic/global/global_energy">Global Energy</category>
 <category domain="http://agonist.org/topic/environment/global_warming">Global Warming</category>
 <pubDate>Wed, 18 Nov 2009 12:35:01 -0800</pubDate>
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 <title>North America The &#039;Saudi Arabia Of Natural Gas,&#039; Says Pickens</title>
 <link>http://agonist.org/20091111/north_america_the_saudi_arabia_of_natural_gas_says_pickens</link>
 <description>&lt;p&gt;Shaun Polczer | Calgary | Nov 11&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://www.calgaryherald.com/business/energy-resources/Texas+baron+sees+game+changer/2209930/story.html&quot;&gt;Calgary Herald&lt;/a&gt; - &lt;i&gt;He proposes switching semis&#039; fuel as first step&lt;/i&gt; &lt;/p&gt;
&lt;p&gt;North Americans need to embrace natural gas as the clean-burning solution to North America&#039;s energy and environmental security, one of the world&#039;s leading oilmen told the Calgary Herald&#039;s editorial board Tuesday.&lt;/p&gt;
&lt;p&gt;T. Boone Pickens, one of the world&#039;s foremost oil barons, is hoping to convert more than seven million heavy trucks and vehicles over to the cleaner-burning fuel in an attempt to reduce U.S. reliance on imported oil.&lt;/p&gt;
&lt;p&gt;In a meeting with the Herald, Pickens described North America as the &quot;Saudi Arabia&quot; of natural gas, with more than 100 years of potential supplies.&lt;/p&gt;
&lt;p&gt;&quot;We have more gas than anyone else in the world,&quot; he said. &quot;America is the Saudi Arabia of natural gas. It&#039;s time for us to use this abundant resource to end the cycle of foreign oil dependency and addiction that is making us less safe and more economically insecure.&quot;&lt;/p&gt;
&lt;p&gt;Pickens was in Calgary to promote his latest venture, the BP Energy Fund, which is to begin trading on the Toronto Stock Exchange.&lt;/p&gt;
</description>
 <category domain="http://agonist.org/topic/news">News</category>
 <category domain="http://agonist.org/topic/business">Business</category>
 <category domain="http://agonist.org/topic/global/global_energy">Global Energy</category>
 <category domain="http://agonist.org/topic/usa/usa_domestic_issues">USA: Domestic Issues</category>
 <pubDate>Wed, 11 Nov 2009 11:09:54 -0800</pubDate>
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<item>
 <title>Power for U.S. From Russia’s Old Nuclear Weapons</title>
 <link>http://agonist.org/20091110/power_for_u_s_from_russia_s_old_nuclear_weapons</link>
 <description>&lt;p&gt;Andrew E. Kramer | Moscow | Nov 10&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://www.nytimes.com/2009/11/10/business/energy-environment/10nukes.html?ref=world&quot;&gt;NYT&lt;/a&gt; - What’s powering your home appliances?&lt;/p&gt;
&lt;p&gt;For about 10 percent of electricity in the United States, it’s fuel from dismantled nuclear bombs, including Russian ones.&lt;/p&gt;
&lt;p&gt;“It’s a great, easy source” of fuel, said Marina V. Alekseyenkova, an analyst at Renaissance Capital and an expert in the Russian nuclear industry that has profited from the arrangement since the end of the cold war.&lt;/p&gt;
&lt;p&gt;But if more diluted weapons-grade uranium isn’t secured soon, the pipeline could run dry, with ramifications for consumers, as well as some American utilities and their Russian suppliers.&lt;/p&gt;
&lt;p&gt;Already nervous about a supply gap, utilities operating America’s 104 nuclear reactors are paying as much attention to President Obama’s efforts to conclude a new arms treaty as the Nobel Peace Prize committee did.&lt;/p&gt;
&lt;p&gt;In the last two decades, nuclear disarmament has become an integral part of the electricity industry, little known to most Americans.&lt;/p&gt;
&lt;p&gt;Salvaged bomb material now generates about 10 percent of electricity in the United States — by comparison, hydropower generates about 6 percent and solar, biomass, wind and geothermal together account for 3 percent.&lt;/p&gt;
&lt;p&gt;Utilities have been loath to publicize the Russian bomb supply line for fear of spooking consumers: the fuel from missiles that may have once been aimed at your home may now be lighting it. &lt;/p&gt;
</description>
 <category domain="http://agonist.org/topic/miscellany">Miscellany</category>
 <category domain="http://agonist.org/topic/news">News</category>
 <category domain="http://agonist.org/topic/business">Business</category>
 <category domain="http://agonist.org/topic/global/global_arms_control">Global Arms Control</category>
 <category domain="http://agonist.org/topic/global/global_energy">Global Energy</category>
 <category domain="http://agonist.org/topic/usa/usa_domestic_issues">USA: Domestic Issues</category>
 <pubDate>Tue, 10 Nov 2009 10:50:54 -0800</pubDate>
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<item>
 <title> Key oil figures were distorted by US pressure, says whistleblower</title>
 <link>http://agonist.org/20091110/key_oil_figures_were_distorted_by_us_pressure_says_whistleblower</link>
 <description>&lt;p&gt;Terry Macalister | Nov 10&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://www.guardian.co.uk/environment/2009/nov/09/peak-oil-international-energy-agency&quot;&gt;The Guardian&lt;/a&gt; - &lt;img style=&quot;float:right;padding:8px&quot; width=300 height=250 src=http://static.guim.co.uk/sys-images/Guardian/Pix/maps_and_graphs/2009/11/09/OilProduction.gif /&gt;&lt;/p&gt;
&lt;p&gt;&lt;i&gt;Exclusive: Watchdog&#039;s estimates of reserves inflated says top official&lt;/i&gt;&lt;/p&gt;
&lt;p&gt;The world is much closer to running out of oil than official estimates admit, according to a whistleblower at the International Energy Agency who claims it has been deliberately underplaying a looming shortage for fear of triggering panic buying.&lt;/p&gt;
&lt;p&gt;The senior official claims the US has played an influential role in encouraging the watchdog to underplay the rate of decline from existing oil fields while overplaying the chances of finding new reserves.&lt;/p&gt;
&lt;p&gt;The allegations raise serious questions about the accuracy of the organisation&#039;s latest World Energy Outlook on oil demand and supply to be published tomorrow – which is used by the British and many other governments to help guide their wider energy and climate change policies.&lt;br /&gt;
&#039;There&#039;s suspicion the IEA has been influenced by the US&#039; Link to this audio&lt;/p&gt;
&lt;p&gt;In particular they question the prediction in the last World Economic Outlook, believed to be repeated again this year, that oil production can be raised from its current level of 83m barrels a day to 105m barrels. External critics have frequently argued that this cannot be substantiated by firm evidence and say the world has already passed its peak in oil production.&lt;/p&gt;
&lt;p&gt;Now the &quot;peak oil&quot; theory is gaining support at the heart of the global energy establishment. &quot;The IEA in 2005 was predicting oil supplies could rise as high as 120m barrels a day by 2030 although it was forced to reduce this gradually to 116m and then 105m last year,&quot; said the IEA source, who was unwilling to be identified for fear of reprisals inside the industry. &quot;The 120m figure always was nonsense but even today&#039;s number is much higher than can be justified and the IEA knows this.&lt;/p&gt;
</description>
 <category domain="http://agonist.org/topic/news">News</category>
 <category domain="http://agonist.org/topic/global/global_energy">Global Energy</category>
 <category domain="http://agonist.org/topic/usa/usa_domestic_issues">USA: Domestic Issues</category>
 <pubDate>Tue, 10 Nov 2009 09:24:51 -0800</pubDate>
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<item>
 <title>Don&#039;t shift poverty money to climate </title>
 <link>http://agonist.org/tina/20091027/dont_shift_poverty_money_to_climate</link>
 <description>&lt;p&gt;Savio Carvalho | Oct 27 | &lt;a href=&quot;http://www.alertnet.org/db/blogs/2101/2009/09/27-135803-1.htm&quot;&gt;Reuter blogs&lt;/a&gt;&lt;/p&gt;
&lt;p&gt;In the early 1970s, rich countries committed to give 0.7 percent of their income in the form of aid to poor developing countries as Overseas Development Assistance. In the past decade a few countries have actually reached this target and others have plans to achieve it in the next few years. This money is used primarily for poverty reduction and long-term development goals in developing countries.&lt;/p&gt;
&lt;p&gt;But climate change is now creating additional burdens on poor communities across the world. This means that poor communities need additional support to adapt and cope with climate-related changes, including increases in the frequency and severity of weather-related disasters and other slow changes such as sea-level rise, melting glaciers and shifting seasons.&lt;/p&gt;
&lt;p&gt;The poor are least responsible for causing climate change but are most affected. Under the laws of natural justice, that suggests richer nations need to stem climate change, and help poorer nations cope with the damage done.&lt;/p&gt;
&lt;p&gt;This week leaders from the European Union are debating if the money they will offer to help developing countries adapt to climate change should be part of the 0.7 percent they promised decades ago or additional funding. That this is even up for debate is deeply worrisome.&lt;/p&gt;
</description>
 <category domain="http://agonist.org/topic/global/global_energy">Global Energy</category>
 <category domain="http://agonist.org/topic/opinion_0">Opinion</category>
 <pubDate>Tue, 27 Oct 2009 10:06:05 -0700</pubDate>
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<item>
 <title> Oil prices hit high but report warns of supply crunch</title>
 <link>http://agonist.org/20091020/oil_prices_hit_high_but_report_warns_of_supply_crunch</link>
 <description>&lt;p&gt;Ashley Seager | Oct 20&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://www.guardian.co.uk/business/2009/oct/19/oil-prices-rise-supply-warning-report&quot;&gt;The Guardian&lt;/a&gt; - &lt;i&gt;* US light crude oil futures pushes above $79 a barrel&lt;br /&gt;
* Report blames government for ignoring supply problem&lt;/i&gt;&lt;/p&gt;
&lt;p&gt;World oil prices hit their highest point for a year yesterday, as a major new report urged governments around the world to take drastic action to head off an approaching oil supply crunch.&lt;/p&gt;
&lt;p&gt;US light crude futures pushed above $79 a barrel, supported by the view that a recovering world economy would raise demand for crude. Oil prices have more than doubled from the low point they hit in the spring, but are still around half the all-time high of nearly $150 a barrel they reached in early summer last year.&lt;/p&gt;
&lt;p&gt;Analysts have been surprised at the recent resilience of oil prices given the impact on energy demand of the global recession. In spite of this year&#039;s volatility in the oil price, the underlying trend for a decade has been for it to rise steadily.&lt;/p&gt;
&lt;p&gt;A report from the non-governmental organisation Global Witness – famous for its exposé of so-called &quot;blood diamonds&quot; – pointed to an impending supply shock that could be so severe that many of the world&#039;s poor countries would simply be shut off from the world of energy by sky-high prices.&lt;/p&gt;
&lt;p&gt;Two years in the preparation, Global Witness&#039;s report, Heads in the Sand, accused governments of ignoring the fact that the world could soon start to run short of oil. This would lead to huge consequences in terms of price shocks and much higher levels of violence around the world than last year&#039;s food riots.&lt;/p&gt;
&lt;p&gt;&lt;i&gt;&lt;b&gt;The Report: &lt;a href=&quot;http://www.globalwitness.org/media_library_detail.php/854/en/heads_in_the_sand_governments_ignore_the_oil_suppl&quot;&gt;Heads in the Sand: Governments Ignore the Oil Supply Crunch and Threaten the Climate &lt;/a&gt;&lt;/b&gt;&lt;/i&gt;  &lt;/p&gt;
</description>
 <category domain="http://agonist.org/topic/news">News</category>
 <category domain="http://agonist.org/topic/economics">Economics</category>
 <category domain="http://agonist.org/topic/global/global_energy">Global Energy</category>
 <pubDate>Tue, 20 Oct 2009 01:44:13 -0700</pubDate>
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<item>
 <title>New Way to Tap Gas May Expand Global Supplies </title>
 <link>http://agonist.org/20091010/new_way_to_tap_gas_may_expand_global_supplies</link>
 <description>&lt;p&gt;Clifford Krauss | Oklahoma City | October 9&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://www.nytimes.com/2009/10/10/business/energy-environment/10gas.html&quot;&gt;NYT&lt;/a&gt; - A new technique that tapped previously inaccessible supplies of natural gas in the United States is spreading to the rest of the world, raising hopes of a huge expansion in global reserves of the cleanest fossil fuel.&lt;/p&gt;
&lt;p&gt;Italian and Norwegian oil engineers and geologists have arrived in Texas, Oklahoma and Pennsylvania to learn how to extract gas from layers of a black rock called shale. Companies are leasing huge tracts of land across Europe for exploration. And oil executives are gathering rocks and scrutinizing Asian and North African geological maps in search of other fields.&lt;br /&gt;
&lt;br /&gt;
The global drilling rush is still in its early stages. But energy analysts are already predicting that shale could reduce Europe’s dependence on Russian natural gas. They said they believed that gas reserves in many countries could increase over the next two decades, comparable with the 40 percent increase in the United States in recent years.&lt;/p&gt;
&lt;p&gt;“It’s a breakout play that is going to identify gigantic resources around the world,” said Amy Myers Jaffe, an energy expert at Rice University. “That will change the geopolitics of natural gas.”&lt;/p&gt;
&lt;p&gt;[...]&lt;/p&gt;
&lt;p&gt;One recent study by IHS Cambridge Energy Research Associates, a consulting group, calculated that the recoverable shale gas outside of North America could turn out to be equivalent to 211 years’ worth of natural gas consumption in the United States at the present level of demand, and maybe as much as 690 years. The low figure would represent a 50 percent increase in the world’s known gas reserves, and the high figure, a 160 percent increase.&lt;/p&gt;
&lt;p&gt;The projections suggest that the new method of producing gas “is the biggest energy innovation of the decade,” said Daniel Yergin, chairman of the Cambridge consulting group. “And the amazing thing is there was no grand opening ceremony for it. It just snuck up.”&lt;/p&gt;
</description>
 <category domain="http://agonist.org/topic/news">News</category>
 <category domain="http://agonist.org/topic/global/global_energy">Global Energy</category>
 <pubDate>Sat, 10 Oct 2009 09:52:30 -0700</pubDate>
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<item>
 <title>Seawater plants yield green aviation fuel in new research</title>
 <link>http://agonist.org/20091008/seawater_plants_yield_green_aviation_fuel_in_new_research</link>
 <description>&lt;p&gt;Washington | Oct 6&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://www.upi.com/Science_News/Resource-Wars/2009/10/06/Seawater-plants-yield-green-aviation-fuel-in-new-research/UPI-84051254864364/&quot;&gt;UPI&lt;/a&gt; - Boeing and international academic and business partners are looking into ways of producing commercially viable aviation fuel from saltwater plants in a push toward reducing carbon emissions from air travel.&lt;/p&gt;
&lt;p&gt;The Boeing Co. said scientific studies were focused on salicornia bigelovii and saltwater mangroves -- plants known as halophytes.&lt;/p&gt;
&lt;p&gt;Research conducted in the United States, Abu Dhabi, the United Arab Emirates and other locations showed the plants thrive when irrigated with seawater and can be produced in large quantities to extract biofuel suitable for aircraft.&lt;/p&gt;
&lt;p&gt;Aviation industry analysts said a biofuel substitute for hydrocarbons used in air travel could help ease environmentalist concerns over aviation&#039;s carbon footprint.&lt;/p&gt;
&lt;p&gt;A switch from expensive, high-octane aviation fuel to biofuels could also help counter a rising global aversion to air travel because of the perceived damage to the Earth&#039;s ecology, said the analysts.&lt;/p&gt;
</description>
 <category domain="http://agonist.org/topic/news">News</category>
 <category domain="http://agonist.org/topic/business">Business</category>
 <category domain="http://agonist.org/topic/environment">Environment</category>
 <category domain="http://agonist.org/topic/global/global_energy">Global Energy</category>
 <pubDate>Thu, 08 Oct 2009 07:57:17 -0700</pubDate>
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<item>
 <title>Saudis ask for aid if world cuts dependence on oil</title>
 <link>http://agonist.org/20091008/saudis_ask_for_aid_if_world_cuts_dependence_on_oil</link>
 <description>&lt;p&gt;Michael Casey | Bangkok | Oct 8&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://www.salon.com/wires/ap/world/2009/10/08/D9B6QSRG0_as_climate_talks_saudis_in_need/index.html&quot;&gt;AP&lt;/a&gt; - There are plenty of needy countries at the U.N. climate talks in Bangkok that make the case they need financial assistance to adapt to the impacts of global warming. Then there are the Saudis.&lt;/p&gt;
&lt;p&gt;Saudi Arabia has led a quiet campaign during these and other negotiations -- demanding behind closed doors that oil-producing nations get special financial assistance if a new climate pact calls for substantial reductions in the use of fossil fuels.&lt;/p&gt;
&lt;p&gt;&lt;i&gt;just great, more bailing out of the rich and greedy :D&lt;/i&gt; &lt;/p&gt;
</description>
 <category domain="http://agonist.org/topic/news">News</category>
 <category domain="http://agonist.org/topic/arabia">Arabia</category>
 <category domain="http://agonist.org/topic/global/global_energy">Global Energy</category>
 <category domain="http://agonist.org/topic/global/global_politics_and_culture">Global Politics and Culture</category>
 <pubDate>Thu, 08 Oct 2009 03:30:44 -0700</pubDate>
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<item>
 <title>Warning over global oil &#039;decline&#039; </title>
 <link>http://agonist.org/20091007/warning_over_global_oil_decline</link>
 <description>&lt;p&gt;Sarah Mukherjee | Oct 8&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://news.bbc.co.uk/2/hi/uk_news/8296096.stm&quot;&gt;BBC&lt;/a&gt; - There is a &quot;significant risk&quot; that global production of conventional oil could &quot;peak&quot; and decline by 2020, a report has warned.&lt;/p&gt;
&lt;p&gt;The UK Energy Research Council study says there is a general consensus that the era of cheap oil is at an end. &lt;/p&gt;
&lt;p&gt;But it warns that most governments, including the UK&#039;s, exhibit little concern about oil depletion. &lt;/p&gt;
&lt;p&gt;The report&#039;s authors also state that the 10 largest oil producing fields in the world are all in decline. &lt;/p&gt;
&lt;p&gt;As this report points out, the debate about peak oil is a polarised one. &lt;/p&gt;
&lt;p&gt;On one side, there are those who say that global supplies have already reached their zenith, and we are unprepared for the crisis that will hit world economies in the years to come. &lt;/p&gt;
&lt;p&gt;On the other, there are oil companies and many energy analysts who dismiss the notion that supplies are running out. &lt;/p&gt;
&lt;p&gt;The report&#039;s authors admit it is hard to tell who is right, as the world lacks a reliable gauge with which to measure oil depletion. &lt;/p&gt;
&lt;p&gt;&lt;/p&gt;
</description>
 <category domain="http://agonist.org/topic/news">News</category>
 <category domain="http://agonist.org/topic/global/global_energy">Global Energy</category>
 <pubDate>Wed, 07 Oct 2009 23:27:37 -0700</pubDate>
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<item>
 <title>Jumpin&#039; Jack Verdi, it&#039;s a gas, gas, gas</title>
 <link>http://agonist.org/20091005/jumpin_jack_verdi_its_a_gas_gas_gas</link>
 <description>&lt;p&gt;Pepe Escobar  | Brussels | Oct 4&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://www.atimes.com/atimes/Central_Asia/KJ03Ag01.html&quot;&gt;Asia Times Online&lt;/a&gt; - Oil and natural gas prices may be relatively low right now, but don&#039;t be fooled. The new great game of the 21st century is always over energy and it&#039;s taking place on an immense chessboard called Eurasia. Its squares are defined by the networks of pipelines being laid across the oil heartlands of the planet. Call it Pipelineistan. If, in Asia, the stakes in this game are already impossibly high, the same applies to the &quot;Euro&quot; part of the great Eurasian landmass - the richest industrial area on the planet. Think of this as the real political thriller of our time. &lt;/p&gt;
&lt;p&gt;The movie of the week in Brussels is: When NATO Meets Pipelineistan. Though you won&#039;t find it in any headlines, at virtually every recent summit of the North Atlantic Treaty Organization, Washington has been maneuvering to involve reluctant Europeans ever more deeply in the business of protecting Pipelineistan. This is already happening, of course, in Afghanistan, where a promised pipeline from Turkmenistan to Pakistan and India, the TAPI pipeline, has not even been built. And it&#039;s about to happen at the borders of Europe, again around pipelines that have not yet been built. &lt;/p&gt;
&lt;p&gt;If you had to put that Euro part of Pipelineistan into a formula, you might do so this way: Nabucco (pushed by the US) versus South Stream (pushed by Russia). Be patient. You&#039;ll understand in a moment. &lt;/p&gt;
</description>
 <category domain="http://agonist.org/topic/news">News</category>
 <category domain="http://agonist.org/topic/global/global_energy">Global Energy</category>
 <pubDate>Mon, 05 Oct 2009 04:23:55 -0700</pubDate>
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<item>
 <title>The dark secrets of the trillion-dollar oil trade</title>
 <link>http://agonist.org/20090926/the_dark_secrets_of_the_trillion_dollar_oil_trade</link>
 <description>&lt;p&gt;Cahal Milmo | Sept 26&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://www.independent.co.uk/news/world/africa/the-dark-secrets-of-the-trilliondollar-oil-trade-1793503.html&quot;&gt;The Independent&lt;/a&gt; - &lt;img style=&quot;float:right;padding:8px&quot; width=300 height=132 src=http://www.independent.co.uk/multimedia/archive/00245/20worafrrex-_245042t.jpg /&gt;&lt;/p&gt;
&lt;p&gt;&lt;i&gt;Tankers full of oil its owners don&#039;t want to sell. Shady deals with brutal regimes. Vast profits. Pollution scandals. Cahal Milmo investigates a very murky business &lt;/i&gt;&lt;/p&gt;
&lt;p&gt;With a combined capacity for 313,000 tonnes of oil, the Delta Ios and the NS Burgas supertankers were launched two months ago to criss-cross the globe in search of trade. Instead, the vast vessels were to be found yesterday lying idle off the coast of Singapore after their owners were paid by two of the world&#039;s richest and most secretive oil companies to turn them into floating petrochemical warehouses.&lt;/p&gt;
&lt;p&gt;At first glance, the decision by Trafigura Group and Vitol Holding BV to charter the newly built ships at an estimated cost of £47,000 a day to do nothing for up to four months in South-east Asia while laden with cargos of diesel worth at least £77m per vessel makes little economic sense.&lt;/p&gt;
&lt;p&gt;When this is combined with the fact that the Delta Ios and the NS Burgas are just two ships in an enormous fleet of tankers which are currently being paid about £80m a month by independent oil traders like Trafigura and Vitol, as well as giants such as Shell, to stay anchored around the globe with anything between 50 and 150 million barrels of redundant crude on board, it seem that the ruthless barons of black gold must be losing money as fast as they can make it.&lt;/p&gt;
&lt;p&gt;Far from it. The phenomenon of &quot;floating storage&quot;, which has been brought about by a huge over-supply of global tanker capacity and unusual market conditions, is just one example of the multitude of ways in which a small group of private, mostly Swiss-based companies have become adept at turning vast profits from the closed and often murky world of independent oil trading. &lt;/p&gt;
&lt;p&gt;&lt;/p&gt;
&lt;p&gt;A glut of oil caused by the recession means that crude available for immediate purchase is currently cheaper than that bought on longer-term or &quot;future&quot; contracts – a practice known as &quot;contango&quot;. The result is that independent traders have been rushing to buy the cheaper &quot;spot&quot; oil and storing it wherever they can – namely in under-employed tanker fleets – in anticipation of a sharp rise in price as the global economy begins to recover. The resulting profit can be anything between 15 and 20 per cent – tens of millions of dollars – even after the cost of hiring a tanker is deducted.&lt;/p&gt;
&lt;p&gt;more&lt;/p&gt;
</description>
 <category domain="http://agonist.org/topic/news">News</category>
 <category domain="http://agonist.org/topic/business">Business</category>
 <category domain="http://agonist.org/topic/global/global_energy">Global Energy</category>
 <category domain="http://agonist.org/topic/economics/global_financial_crisis">Global Financial Crisis</category>
 <pubDate>Sat, 26 Sep 2009 05:15:40 -0700</pubDate>
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<item>
 <title>Oxy oil discovery could spark new interest in California&#039;s energy potential</title>
 <link>http://agonist.org/20090924/oxy_oil_discovery_could_spark_new_interest_in_californias_energy_potential</link>
 <description>&lt;p&gt;Ronald D. White | Sept  24&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://www.latimes.com/business/la-fi-cal-oil24-2009sep24,0,3884900.story&quot;&gt;LA Times&lt;/a&gt; - Oxy oil discovery could spark new interest in California&#039;s energy potential&lt;br /&gt;
&lt;i&gt;The biggest find in the state in 35 years, somewhere in Kern County, could herald new exploration in California and the U.S., experts say. But some worry it could lead to a false sense of security.&lt;/i&gt;&lt;/p&gt;
&lt;p&gt;A few years ago, Occidental Petroleum Corp. executive Stephen I. Chazen sounded like a cryptologist out of a Dan Brown novel as he told investors that an oil bonanza awaited any outfit that could &quot;crack the code&quot; of California&#039;s seismically fractured underground.&lt;/p&gt;
&lt;p&gt;Occidental&#039;s engineers may have done it.&lt;/p&gt;
&lt;p&gt;The Westwood company revealed in July that it had found the equivalent of 150 million to 250 million barrels of oil and natural gas in an undisclosed part of Kern County using techniques that the oil company&#039;s executives would rather not talk about. It was California&#039;s biggest find in 35 years.&lt;/p&gt;
&lt;p&gt;Some experts say it could herald a period of new exploration in California and the U.S.&lt;/p&gt;
</description>
 <category domain="http://agonist.org/topic/news">News</category>
 <category domain="http://agonist.org/topic/global/global_energy">Global Energy</category>
 <category domain="http://agonist.org/topic/usa/usa_domestic_issues">USA: Domestic Issues</category>
 <pubDate>Thu, 24 Sep 2009 11:40:48 -0700</pubDate>
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 <title>Trees: Out of the Forest and Into the Oven</title>
 <link>http://agonist.org/20090924/trees_out_of_the_forest_and_into_the_oven</link>
 <description>&lt;p&gt;Stephen Leahy | Uxbridge | Sept  24&lt;br /&gt;&lt;br /&gt;&lt;a href=&quot;http://www.ipsnews.net/news.asp?idnews=48574&quot;&gt;IPS/Tierramérica&lt;/a&gt; -  Millions of trees, especially from the developing countries of the South, are being shipped to Europe and burned in giant furnaces to meet &quot;green energy&quot; requirements that are supposed to combat climate change.&lt;/p&gt;
&lt;p&gt;In the last two months alone, energy companies in Britain have announced the construction of at least six new biomass power generation plants to produce 1,200 megawatts of energy, primarily from burning woodchips.&lt;/p&gt;
&lt;p&gt;At least another 1,200 megawatts of wood-fired energy plants, including the world&#039;s largest, in Port Talbot, Wales, are already under construction.&lt;/p&gt;
&lt;p&gt;Those energy plants will burn 20 to 30 million tonnes of wood annually, nearly all imported from other regions and equivalent to at least one million hectares of forest.&lt;/p&gt;
&lt;p&gt;&quot;Europe is going to cook the world&#039;s tropical forests to fight climate change; it&#039;s crazy,&quot; Simone Lovera, of the non-governmental Global Forest Coalition, which has a southern officed in Asunción, Paraguay, told Tierramérica.&lt;/p&gt;
&lt;p&gt;Europe has committed to reducing its carbon emissions 20 percent by 2020 in an effort to fight climate change. Biofuels and biomass energy will have key roles in achieving those goals, experts say.&lt;/p&gt;
&lt;p&gt;&quot;Biomass is a very promising sector for energy companies,&quot; says Jarret Adams, a spokesperson for Adage, a joint venture between French nuclear power giant Areva and the U.S.-based Duke Energy.&lt;/p&gt;
&lt;p&gt;Adage is building a 50-megawatt, wood-burning power plant in the southeastern U.S. state of Florida, the first of 12 such &quot;green energy&quot; plants to be built over the next six years, Adams told Tierramérica.&lt;/p&gt;
&lt;p&gt;&quot;Burning wood for energy is considered carbon neutral by U.S. federal and state authorities,&quot; he said. In other words, the process of generating electricity by burning wood emits an equal or lesser amount of carbon dioxide than the quantity absorbed by the trees through photosynthesis.&lt;/p&gt;
&lt;p&gt;When Tierramérica questioned the assumption of carbon neutrality, Adams replied, &quot;It is, but who knows for certain?&quot;&lt;/p&gt;
&lt;p&gt;Brazil is gearing up to meet the European woodchip demand, not by cutting down forests, but rather by expanding tree plantations by 27 million hectares, mostly of exotic species like eucalyptus, Lovera says, based on a report the Coalition has obtained.&lt;/p&gt;
&lt;p&gt;&quot;The U.N. Food and Agriculture Organisation (FAO) is also pushing countries to expand tree plantations,&quot; she said.&lt;/p&gt;
&lt;p&gt;A quick examination of international trading companies reveals a new and growing global industry in wood for energy.&lt;/p&gt;
&lt;p&gt;MagForest, a Canadian company operating in the Republic of Congo, will soon ship 500,000 tonnes of wood chips annually to Europe. IBIC Ghana Limited claims it can ship 100,000 tonnes of tropical hardwood and softwood a month from Ghana. Sky Trading, a U.S. company, is offering to supply up to 600,000 tonnes of woodchips for biomass from the United States or Brazil.&lt;/p&gt;
&lt;p&gt;Brazil&#039;s International CMO Business Biomass says it is dedicated to reducing coal use and can obtain woodchips from Brazil, Chile, Uruguay and Argentina to supply the European energy market.&lt;/p&gt;
&lt;p&gt;Tree plantations have had devastating effects on people and the environment all over South America, Lovera says.&lt;/p&gt;
&lt;p&gt;No one seriously argues that these plantations have anything like the biodiversity or ecological function of natural forests, be they first or even second growth. These plantations are &quot;green deserts&quot; because of the amount of water they consume, and because of the lack of native wildlife, according to the environmentalist.&lt;/p&gt;
&lt;p&gt;And there are many instances of local people, often poor or indigenous, who are kicked off the land to make way for these huge monocultures, she says.&lt;/p&gt;
&lt;p&gt;Because of the mounting evidence about the negative social and environmental impacts, an international coalition of non-governmental organisations has set Sept. 21 as International Day Against Tree Monocultures.&lt;/p&gt;
&lt;p&gt;&quot;Burning wood is called carbon-neutral, but it&#039;s not,&quot; said Rachel Smolker, a research scientist who works with the Global Justice Ecology Project in the United States, told Tierramérica. &lt;/p&gt;
&lt;p&gt;&lt;a href=&quot;http://www.ipsnews.net/news.asp?idnews=48574&quot;&gt;more&lt;/a&gt;&lt;/p&gt;
</description>
 <category domain="http://agonist.org/topic/news">News</category>
 <category domain="http://agonist.org/topic/environment">Environment</category>
 <category domain="http://agonist.org/topic/global/global_energy">Global Energy</category>
 <category domain="http://agonist.org/topic/global/global_food_agriculture">Global Food &amp; Agriculture</category>
 <category domain="http://agonist.org/topic/environment/global_warming">Global Warming</category>
 <pubDate>Thu, 24 Sep 2009 09:55:36 -0700</pubDate>
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 <title>Teenager invents £23 solar panel from human hair</title>
 <link>http://agonist.org/tina/20090912/teenager_invents_23_solar_panel_from_human_hair</link>
 <description>&lt;p&gt;&lt;img style=&quot;float:right;padding:8px&quot; width=235 height=155 src=http://i.dailymail.co.uk/i/pix/2009/09/08/article-0-06546F9D000005DC-575_468x313.jpg /&gt;&lt;/p&gt;
&lt;p&gt;&lt;a href=&quot;http://www.dailymail.co.uk/sciencetech/article-1212005/Teenager-invents-23-solar-panel-solution-developing-worlds-energy-needs-human-hair.html&quot;&gt;Daily Mail&lt;/a&gt; - A new type of solar panel using human hair could provide the world with cheap, green electricity, believes its teenage inventor.&lt;/p&gt;
&lt;p&gt;Milan Karki, 18, who comes from a  village in rural Nepal, believes he has found the solution to the developing world&#039;s energy needs.&lt;/p&gt;
&lt;p&gt;The young inventor says hair is easy to use as a conductor in solar panels and could revolutionise renewable energy.&lt;/p&gt;
&lt;p&gt;&#039;First I wanted to provide electricity for my home, then my village. Now I am thinking for the whole world,&#039; said Milan, who attends school in the capital, Kathmandu.&lt;/p&gt;
&lt;p&gt;The hair replaces silicon, a pricey component typically used in solar panels, and means the panels can be produced at a low cost for those with no access to power, he explained.&lt;/p&gt;
&lt;p&gt;Milan and four classmates initially made the solar panel as an experiment but the teens are convinced it has wide applicability and commercial viability.&lt;/p&gt;
&lt;p&gt;&#039;I&#039;m trying to produce commercially and distribute to the districts. We&#039;ve already sent a couple out to the districts to test for feasibility,&#039; he said.&lt;/p&gt;
&lt;p&gt;The solar panel, which produces 9 V (18 W) of energy, costs around £23 to make from raw materials.&lt;/p&gt;
&lt;p&gt;But if they were mass-produced, Milan says they could be sold for less than half that price, which could make them a quarter of the price of those already on the market.&lt;/p&gt;
&lt;p&gt;Melanin, a pigment that gives hair its colour, is light sensitive and also acts as a type of conductor. Because hair is far cheaper than silicon the appliance is less costly.&lt;br /&gt;
solar panel&lt;/p&gt;
&lt;p&gt;The solar panel can charge a mobile phone or a pack of batteries capable of providing light all evening.&lt;/p&gt;
</description>
 <category domain="http://agonist.org/topic/global/global_energy">Global Energy</category>
 <category domain="http://agonist.org/topic/science">Science</category>
 <pubDate>Sat, 12 Sep 2009 13:18:31 -0700</pubDate>
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