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A Hard Rain is Gonna Fall on Oil Prices (Probably)

Energy Tribune, 18 December 2007

Since I am renowned (perhaps infamous) as an oil market bear, it is somewhat daunting to write about next year’s price declining when everyone is now waiting for $100 oil. In the past few years, my price forecasts have been undone (in my opinion) by events ranging from Katrina to the ethnic unrest in Nigeria.

China proposes 10 pct tax on crude, urges fuel tax

The Guardian, 18 December 2007

China's Finance Ministry said on Tuesday it has proposed introducing a 10 percent tax on crude oil production, which would be phased in at a 5 percent rate initially. This tax would help compensate local governments for the extraction of crude oil and would benefit the environment, Vice Minister Zhu Zhigang said in a statement published on the ministry's Web site www.mof.gov.cn.

[NZ] Oil reserves secure for 2008

Scoop, 19 December 2007

New Zealand has secured contracts for additional oil reserves in Australia, Japan and the Netherlands for 2008, the Ministry of Economic Development announced today. Secured through a global tender, the contracts ensure that New Zealand is able to meet its obligations as a member of the International Energy Agency (IEA). One of the main obligations of membership is to hold minimum oil stocks equivalent to 90 days of the previous year’s net i

AN ASTONISHING RISE IN OIL VOLATILITY

Financial Sense, 11 December 2007

This is a daily chart of the oil market for the 1994-95 trading period. Each vertical line represents one full day of trading. You're looking at approximately one full year of oil price trading. The chart appears to illustrate a volatile market with big ups and downs throughout this period, right? However, it all depends on how the chart is scaled.

Are driverless pods the future?

BBC News, 18 December 2007

There are no drivers, no rails, no timetables and no emissions. But, most importantly for passengers, there are no queues. Welcome to the world's first personal rapid transport system (PRT).

[UK] Diesel shortage sparks panic at pumps

Swindon Advertiser, 18 December 2007

DRIVERS panic-buying diesel could leave the pumps dry in Swindon. Several filling stations reported that they did not know when they would be getting their next delivery of fuel. It is thought drivers panic-buying diesel following reports of a fuel price protest last week could be the cause behind the shortages.

China’s Southwest Hit by Fuel Crunch

Associated Press, 17 December 2007

Drivers waited in lines up to a half-mile long to buy gasoline in China's mountainous southwest Tuesday amid rationing aimed at easing a fuel crunch in key export regions elsewhere. Supplies began to run out Sunday in Yunnan province, triggering rationing, filling station employees and news reports said.

Petrol diluter fined $470,000

Sydney Morning Herald, 19 December 2007

A petrol distributor who ripped off motorists by deliberately watering down its premium fuel blends has been fined $470,000 in a Brisbane court.

Europe divided over targets for cutting car CO2 emissions

The Independent, 18 December 2007

Emergency talks aimed at setting EU targets to reduce CO2 car emissions are being held today amid fears that bitter wrangling between car manufacturing countries could delay or even derail the process entirely.

The Oil Czar- ‘Russian oil production has peaked’

Portfolio, 14 December 2007

Leonid Fedun likes to win big, whether on oil fields or soccer fields. At 50, Fedun is one of Russia’s wealthiest tycoons, having amassed a $4 billion fortune as the V.P. of Lukoil, one of Russia’s largest oil and gas companies. The next few years in Russia’s domestic politics and the energy trade could determine a

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