Author: admin

  • Hansen:Sea level Report March 2007

    Hansen disputes iPCC Report om Sea Level rise.

    James Hansen: Scientific reticence and sea level rise

    http://www.iop.org/EJ/article/1748-9326/2/2/024002/erl7…

    IOP Electronic Journals
    Environmental Resarch Letters
    The open-access journal for environmental science

    Scientific reticence and sea level rise

    J E Hansen

    NASA Goddard Institute for Space Studies, 2880 Broadway, New York, NY 10025, USA

    Received 23 March 2007
    Accepted 3 May 2007
    Published 24 May 2007

    I suspect the existence of what I call the `John Mercer effect’. Mercer (1978) suggested that global warming from burning of fossil fuels could lead to disastrous disintegration of the West Antarctic ice sheet, with a sea level rise of several meters worldwide. This was during the era when global warming was beginning to get attention from the United States Department of Energy and other science agencies. I noticed that scientists who disputed Mercer, suggesting that his paper was alarmist, were treated as being more authoritative.

    It was not obvious who was right on the science, but it seemed to me, and I believe to most scientists, that the scientists preaching caution and downplaying the dangers of climate change fared better in receipt of research funding. Drawing attention to the dangers of global warming may or may not have helped increase funding for relevant scientific areas, but it surely did not help individuals like Mercer who stuck their heads out. I could vouch for that from my own experience. After I published a paper (Hansen et al 1981) that described likely climate effects of fossil fuel use, the Department of Energy reversed a decision to fund our research, specifically highlighting and criticizing aspects of that paper at a workshop in Coolfont, West Virginia and in publication (MacCracken 1983).

    -snip-

    The nonlinearity of the ice sheet problem makes it impossible to accurately predict the sea level change on a specific date. However, as a physicist, I find it almost inconceivable that BAU climate change would not yield a sea level change of the order of meters on the century timescale. The threat of a large sea level change is a principal element in our argument (Hansen et al 2006a, 2006b, 2007) that the global community must aim to keep additional global warming less than 1 °C above the 2000 temperature, and even 1 °C may be too great. In turn, this implies a CO2 limit of about 450 ppm, or less. Such scenarios are dramatically different than BAU, requiring almost immediate changes to get on a fundamentally different energy and greenhouse gas emissions path.

    -snip-

    Almost four decades ago Eipper (1970), in a section of his paper titled `The Scientist’s Role’, provided cogent advice and wisdom about the responsibility of scientists to warn the public about the potential consequences of human activities. Eipper recognized sources of scientific reticence, but he concluded that scientists should not shrink from exercising their rights as citizens and responsibilities as scientists. Climate change adds additional imperative to Eipper’s thesis, which was developed with reference to traditional air and water pollution. Positive climate feedbacks and global warming already `in the pipeline’ due to climate system inertia together yield the possibility of climate `tipping points’ (Hansen et al 2006b, 2007), such that large additional climate change and climate impacts are possible with little additional human-made forcing. Such a system demands early warnings and forces the concerned scientist to abandon the comfort of waiting for incontrovertible confirmations.

  • 74 Earthquakes in two weeks Hawaii

    News 10 new results for volcanoes
    Earthquake Swarm Continues Between Kīlauea and Mauna Loa Volcanoes
    United States Geological Survey (press release)
    HAWAI’I ISLAND, Hawaii – The US Geological Survey’s Hawaiian Volcano Observatory (HVO) has recorded more than 100 earthquakes in a swarm that began around 1:17 am, HST, on Wednesday, February 22, 2012. The earthquakes are located about 5 km (3 mi)
    See all stories on this topic »
    Earthquake swarm continues between Kilauea and Mauna Loa Volcanoes
    KHON2
    The tremor was centered three miles from Kilauea volcano and is the largest of more than 100 small quakes in a swarm that started early Wednesday morning. Hawaii Island residents were awakened at 3:52 am by the sound of books falling to the floor.
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    Seismic swarm continues with over 74 earthquakes in Volcano area
    Hawaii 24/7 (press release)
    By Hawaii 24/7 Staff Earthquakes in the Volcano area for the past two weeks. Map generated at 9:06 am Friday, Feb 24, 2012 The US Geological Survey’s Hawaiian Volcano Observatory reports the Kaoiki seismic swarm continues about three miles Northwest of
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    Flurry Of 100 Earthquakes Strike Big Island Since Wednesday
    KITV Honolulu
    HAWAII VOLCANO OBSERVATORY, Hawaii — According to the US Geological Survey, the Hawaiian Volcano Observatory has recorded over 100 earthquakes since early Wednesday morning on the Big Island. The flurry began around 1:17 am Wednesday, with most of the
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    Seismic Swarm Continues: More than 100 Earthquakes Recorded
    Maui Now
    By Wendy Osher A seismic swarm first recorded early Wednesday morning has resulted in more than 100 earthquakes between the Kilauea and Mauna Loa Volcanoes on Hawai’i Island. Officials at the US Geological Survey’s Hawaiian Volcano Observatory say the
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    Maui Now
    Katla volcano (Iceland) activity update: Minor earthquake cluster in Katla
    VolcanoDiscovery
    Jón Frímann on his dedicated blog about Icelandic (and not only) volcanoes closely follows what is happening there: a cluster of minor earthquakes has been showing up under the Katla volcano caldera. This has been following a gradual increase in
    See all stories on this topic »
    Preliminary report: 4.3-magnitude quake strikes Big Island
    The Republic
    AP HAWAII VOLCANOES NATIONAL PARK, Hawaii — The United States Geological Survey says a 4.3-magnitude earthquake near Kilauea volcano on the Big Island is the largest of more than 100 small quakes in a swarm that began two days ago.
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    GSA Bulletin: Alaska, Russia, Tibet, the Mississippi River, and the Great
    Science Codex
    Boulder, CO, USA – New GSA BULLETIN science published online 24 Feb. includes work on the Chugach Metamorphic Complex of southern Alaska; news and data from the first non-Russian science team to make a helicopter over-flight of Shiveluch volcano in
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    Giants pitcher Sanford keeps ‘dad’ with him on field
    MLive.com
    _ Shawn Sanford knew something was wrong when only his mother was able to make the trip to watch him pitch for the Salem-Keizer Volcanoes in 2010. After fighting colon cancer for 16 years, Sanford’s father, Jimmy, was nearing the end.
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    4.3 Kilauea Summit Earthquake, Seismic Swarm Continues
    Maui Now
    Over a 14 hour period, more than 60 earthquakes measuring at 3.2 and below, occurred in the area between the Mauna Loa and Kilauea volcanoes. This morning’s 4.3 quake was centered 3 miles NW of the Kilauea Summit; 5 miles W of Volcano; 11 miles WSW of
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  • Historic Greens bill aims for real action on climate change

    I have re-published this bill introduced after the IPCC and Hansen Report in Feb/March 2007. This bill was voted down by the Howard Govt. Over 700/000 buildings were identified as being at risk through sea level rise and coastal flooding.

    Historic Greens bill aims for real action on climate change

    Speech | Spokesperson Christine Milne
    Thursday 22nd March 2007, 12:00am

    CLIMATE CHANGE ACTION BILL 2006
    Second Reading

    Senator MILNE (Tasmania) (3.36 p.m.)-It is very important that we acknowledge that the Climate Change Action Bill 2006 is the first bill of its kind in the Australian parliament. It is a bill to seriously tackle climate change. The last time Australia dealt with a target for greenhouse gas emissions was upon ratification of the Kyoto protocol, when Australia demeaned itself in the eyes of the world by negotiating into the early hours of the morning to secure 108 per cent of 1990 levels as the target that Australia would meet in the first Kyoto commitment period, 2008-12. We now know that Australia is struggling to meet what is the world’s most generous target. We will only meet it-in spite of a struggle if we do-because we have had a windfall gain as a result of changes to land use, forestry and land clearance regulations.

    At the rate we are going, we are on track to secure 127 per cent of our target of 1990 levels. We have to act now. It is clear that history judges political leaders on whether they respond to the great issues of their time. In my view, history will judge Australia’s political leaders very harshly. Not only have they failed to respond appropriately to the great issues of our time; they have failed knowingly and deliberately. This is not about ignorance, it is not about a situation where some years have gone past where people did not know what the situation was. The situation has been made very clear to us on many occasions. Since I introduced this legislation last year we have had the Intergovernmental Panel on Climate Change delivering its report. On 2 February this year, the debate effectively ended about whether global warming has been impacted by human activities, when the world’s leading scientists made it very clear that there is more than a 90 per cent probability that human-induced climate change is responsible for the levels of global warming we are currently seeing.

    In their predictions the scientists also said that we can expect sea level rise as a result of thermal expansion of the oceans and the melting of icecaps and glaciers. They warned what might happen if the West Antarctic or the Arctic icesheets melt. We have already seen from the science a slowing down of the great ocean conveyor. If that were to stop, as it did in previous ages, then Europe would be plunged into an ice age. Until now, we have heard from Australian political leaders and business leaders a complete unwillingness to act and the honesty, at least in their responses, is that they do not act because ‘Australia’s competitive advantage is in coal, it is a fossil fuel, it is something we export and we have no intention of changing business as usual or taking leadership’, when other parts of the world have been quite prepared to demonstrate political leadership. The Europeans take this matter extremely seriously, unlike in Australian politics. And I note that the government benches are empty bar two people. History will also record that-that the government does not take the setting of greenhouse gas emission limits seriously.

    We will see later in the contributions to the debate that the government is likely to send in its climate sceptics to dispute the evidence, to come up with all sorts of extraneous arguments as to why Australia should not act. But we know from the IPCC report that we face a doubling of carbon dioxide concentrations that could occur as early as 2035, according to Stern, under a business as usual scenario, and that that would lead to global temperature increases of between two degrees and 4.5 degrees. However, the Prime Minister only recently said that a global average temperature rise between four and six degrees would make life ‘less comfortable for some,’ demonstrating his complete and utter ignorance of this matter.

    At the same time, the Minister for the Environment and Water Resources, the Hon. Malcolm Turnbull, talks about the possibility of a sea level rise up to one metre on the east coast of Australia-again, demonstrating no knowledge whatsoever of what the impact would be in terms of long-shore coastal erosion, estuaries, wetlands, Kakadu et cetera. The ignorance we hear from government ministers and the Prime Minister, who are charged with acting in Australia’s best interests, is extraordinary.

    The next report of the Intergovernmental Panel on Climate Change will come out in April this year. The last one was on the science, warning us about increased carbon dioxide concentrations and about increased sea level rises and telling us of the links between climate change and drought, more extreme weather events, floods, fires-and we had those in Australia this summer. But the Prime Minister and his ministers continue to disassociate extreme drought with climate change, because they do not want to be judged by history. It is too late for them. History will judge 11 years of inaction on climate change, because it is 11 years that we could not afford to waste.

    In fact, the choice of whether to act will be made by our generation, but it will affect life on earth for all generations to come. We have a decade to stabilise and reduce greenhouse gas emissions to the point where we can contain global temperature rise to below two degrees, if we are lucky. We already know the impacts of less than one degree of global temperature rise. Imagine that on a much larger scale. Imagine our river systems, imagine what will happen to our coastal areas-the extremes that we already suffering, with another degree of temperature rise and then another degree on top of that.

    So this is a moral and an ethical question. A leaked report of what we can expect-and, once again, we will have ‘Shock, horror’ from politicians who already know the answers to these questions-says that in April they will bring out another report and it will say: ‘Tens of millions of others will be flooded out of their homes each year as the earth reels from rising temperatures and sea levels. Things are happening and happening faster than we expected.’ And so on. Tens of millions will be flooded out of their homes each year. We are talking about our Pacific neighbours here. We are talking about Bangladesh. We are talking about global insecurity on a scale that we can hardly imagine. Already we have had Kiribati telling us that at least 40 of their islands are being marked for evacuation-30,000 people with nowhere to go-and Australia still refuses to accept a definition of environmental refugee in the UN convention on refugees.

    To get to the specifics of the bill before the House today: it would require the government to ratify the Kyoto protocol as a first step. I do not have to go into that; everybody understands. We have a moral obligation to uphold our responsibilities under international law. If we do not want to abide by international law then we endorse a lawless world. They are our only choices. The Greens certainly believe in Australia’s obligations under international law. We are also committed to a post-2012 global treaty of binding targets.

    The second thing the bill does is set national greenhouse gas emission targets for 2020 at 20 per cent below 1990 levels and 80 per cent below 1990 levels by 2050. I welcome the fact that in the media this week the shadow minister for the environment congratulated the Europeans for setting a target of 20 per cent below 1990 levels by 2020. I hope the Labor Party today will stand up and support this bill, because that is the nature of the deep cuts we need to make. Eighty per cent by 2050 will probably be seen probably as extremely conservative in the not too far distant future.

    We are also introducing a greenhouse gas trigger into the EPBC Act to ensure that information about the greenhouse gas emissions resulting from major developments is adequately considered during the approval process. That trigger will be any action likely to result in greenhouse gas emissions of more than 100,000 tonnes of carbon dioxide equivalent in any 12-month period. If we are serious about greenhouse gases, we have to make sure that major projects that are large greenhouse gas emitters are forced into the assessment process at a national level.

    This bill also introduces a national energy savings target, an energy efficiency target, to halt the growth in energy consumption by 2008. In effect, the trigger is equivalent to business-as-usual growth in energy consumption. So we are saying that that is the target we need to set to make sure that increases in energy are offset by the energy efficiency target. We want to require large energy users to implement the findings of their energy efficiency audits. We had that debate in here yesterday, and I seek yet another debate on that because we are talking about 250 companies in Australia using 40 per cent of Australia’s energy. If they were required to implement the findings of their energy efficiency audits, we could meet significant targets in terms of energy efficiency.

    We also want to increase the mandatory renewable energy targets so that renewable energy contributes at least 15 per cent to national demand by 2012 and 25 per cent by 2020. There is huge excitement around renewable energy. Every day you see in the papers reports from Europe and from the US, where targets have been set at state and national levels, showing enormous expansion and competitive advantage in those new industries. For example, in Spain, wind power generation has now risen to contribute 27 per cent of the country’s total daily power demand-from wind, right now. It is the second highest in the world, and we are going to see them increase installed wind capacity to 20,000 megawatts by 2010. That is extraordinary, and Spain is now aspiring to source 30 per cent of its electricity from renewables by 2010-30 per cent by 2010, and Australia’s mandatory renewable energy target is two per cent. At the same time, from California, we have had news about the expansion in concentrated solar thermal, talking about the huge investment going on there.

    In Europe, we have had a new directive with regard to fuel efficiency, such that European vehicles and Chinese vehicles will be the most popular vehicles into this century because they will be the most fuel efficient. They will be the small vehicles. Australia most certainly ought not continue its perverse incentives for building large vehicles that the public do not want, and the government should immediately change its purchasing policies to abandon support for six-cylinder vehicles and to move across to buying fuel-efficient vehicles and hybrids for the government car fleets.

    The Greens bill today also requires the establishment of a system of renewable energy feed-in tariffs to provide a minimum price per unit of produced renewable electricity for a set period to provide investors security on income. This is a fantastic idea. This is what has driven the solar revolution in Germany, whereby energy utilities are required to buy renewable energy at a fixed price for a fixed period of time. That means that, as a consumer, you can go and borrow the capital that you need to install the renewable energy because you know you can sell it. You have a guaranteed market at a guaranteed price for a guaranteed period of time. As a result, farmers, huge shopping complexes and local government have been rolling out renewable energy all over Germany because, once they have paid it off, they will have an additional income, plus they are making considerable impacts in generating renewable energy. Wouldn’t it be fantastic to have a feed-in tariff in Australia? This is part of this bill, and I hope it will get the support of both the government and the opposition today.

    The final aspect of this bill is to immediately end the harvesting of old growth forests, to maintain existing significant carbon stores. We had the embarrassing spectacle yesterday of the minister for forests making a fool of himself yet again in relation to his understanding of climate change and forests. He needs to go down to the Australian National University, where he will get some instruction from the academics about the fact that the soil carbon in an old growth forest, plus the carbon in the trees, is a huge amount of carbon-way beyond anything that the minister talks about with his plantation establishment.

    Sir Nicholas Stern has said that deforestation around the world-and we know that it is a major driver of climate change-is putting into the atmosphere more carbon dioxide than the whole transport effort from around the world. We could make a significant difference tomorrow by ending the logging of old growth forests, by protecting those carbon sinks and by stimulating the jobs that would come from the raft of measures that I am putting forward here today.

    We have a challenge on our hands. We congratulate the unions, who have come out today saying that there should be some movement here and putting pressure on the Labor Party, which has a mandatory renewable energy target of only five per cent. Greg Combet was today advocating at least a 10 per cent target. His leadership of the union movement with regard to putting forward a framework for dealing with climate change is extremely welcome.

    What is obvious to me is that the community is way ahead of its parliament in wanting to address climate change in Australia. Progressive businesses are crying out for government to take leadership. They cannot make investment decisions into the future unless they have some certainty about a price on carbon and some certainty in relation to developing an emissions trading scheme in this country or the imposition of a carbon tax or the combination of both. What we have is politicians on both sides committing vast amounts of money to unproven technologies which, we have already seen from the science, are years off-if ever they will be achieved-whereas, around the world, other countries are actually implementing the technology that can reduce greenhouse gases now.

    I return to where I began, and that is that history judges political leaders by whether or not they respond to the great issues of their time. History is going to judge this parliament. I say this parliament because, given the time frames, it is senators sitting on that side of the chamber, in this term and the next term, who will make the decisions for the rest of time for life on earth, for generations to come. It is all of us in this parliament now who are going to determine the impacts on threatened species.

    We have heard the World Conservation Union telling us that at least 30 per cent of species will be extinct by 2050 because of climate change. One only has to see the photos of polar bears on melting ice floes to see the impacts. Those impacts are affecting our very own alpine species; they are affecting the cider gum, in Tasmania, as we speak. We are seeing invasive species coming down the east coast of Tasmania as ocean currents change. All across the country we are seeing species going to extinction already because of climate change.

    I urge both the government and the Labor opposition to support this bill because the measures in it would create such excitement across Australia. Contrary to the view that it would shut down the economy, it would be the greatest boost to re-energising Australia that this parliament could deliver to the current generation of Australians and to future generations of Australians. I urge you to think beyond where you are now. Think outside the square and support this bill.

  • Heartland undermines the truth (Monbiot)

    Heartland undermines the truth

    Shocking, fascinating, entirely unsurprising: the leaked documents, if authentic, confirm what we suspected but could not prove. The Heartland Institute, which has helped lead the war against climate science in the United States, is funded among others by tobacco firms, fossil fuel companies and one of the billionaire Koch brothers.

    The leaked documents appear to show that, courtesy of its multi-millionaire donors, the institute has commissioned a global warming curriculum for schools, which teaches that “whether humans are changing the climate is a major scientific controversy” and “whether CO2 is a pollutant is controversial.”

    Click here for the rest of this important exposure by George Monbiot.

  • Anxiety Surrounding Nuclear Still Lingers

    News 8 new results for DANGER TO US NUCLEAR PLANTS
    Anxiety Surrounding Nuclear Still Lingers
    Energy and Capital
    While the nuclear industry is booming in the United States, Japanese citizens are forming anti-nuclear coalitions to prevent the construction and/or modification of new or existing plants altogether. In France, lingering anxieties about the danger and
    See all stories on this topic »
    PM wakes up to dollar-driven NGO threat
    Daily Pioneer
    mostly, I think, based in the US, don’t appreciate the need for our country to increase energy. The local NGO-led protests have stalled the commissioning of two 1000 MW nuclear reactors,” he said in an interview in the journal Science.
    See all stories on this topic »
    Fukushima could have been ‘tens of times’ worse than Chernobyl
    Bureau of Investigative Journalism
    More revealing than investigative, the documentary explained how the fusion of a devastating tsunami and a nuclear power plant almost triggered a disaster ‘worse than Chernobyl’, which could have rendered parts of Japan ‘uninhabitable for centuries.
    See all stories on this topic »

    Bureau of Investigative Journalism
    Japan plans tougher nuclear security ahead of summit
    Reuters
    | TOKYO Feb 24 (Reuters) – Japan said on Friday it plans to strengthen security at nuclear power plants following recommendations from the International Atomic Energy Agency, a month before a nuclear security summit in neighbouring South Korea.
    See all stories on this topic »
    A Radioactive Situation
    The National Interest Online
    Curiously, as war fever grips the United States and Israel, few have raised the question of the enormous dangers involved in bombing Iran’s nuclear facilities. Destroying Iran’s many reactors and processing facilities could release large amounts of
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    The National Interest Online
    10 questions Hague to answer over Iran
    Press TV
    In an interview with The Daily Telegraph Britain’s Foreign Secretary, William Hague, claims that Iran is threatening to spark a nuclear arms race in the Middle East which could be more dangerous than the original East-West Cold War.
    See all stories on this topic »

    Press TV
    Diplomatic Miscalculations and the Threat of War: Part 1
    CASMII
    Now I see things differently, because since 2005 US and Israeli intelligence experts have said they have no evidence that Iran’s leaders have decided to make nuclear weapons. I believe that a change of threat assessment requires the West to change its
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    Tehran prepares for an unhappy holiday season
    The Guardian
    due to the threat of war.” The latest US and EU sanctions over the Islamic Republic’s nuclear programme – including an embargo on the import of Iranian oil – have already affected local businesses even before they are fully implemented in July.
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    The Guardian
  • Oi Price Daily News Update

    Oil Price Daily News Update


    Liberia Announces Major Offshore Oil Find

    Posted: 24 Feb 2012 12:40 PM PST

    Over the last two decades, the Caspian has attracted the lion’s share of PR buzz as a major new oil area, but West Africa’s Gulf of Guinea has also become of increasing interest to offshore explorers. While Equatorial Guinea has quietly been ramping up production for the past few years, Liberia has just announced successful offshore oil strikes as well. The National Oil Company of Liberia (NOCAL) on 21 February issued a press release noting, “The National Oil Company of Liberia (NOCAL) welcomes the announcement by African Petroleum…

    Read more…

    Tonga Starts on its Plan to Achieve 50% Renewable Energy by 2015

    Posted: 24 Feb 2012 12:38 PM PST

    As oil prices increase, steady oil supplies become more uncertain, and CO2 emissions continue to increase, many countries around the world are trying to invest in renewable energy sources. The attempt to change from an energy matrix which relies heavily on fossil fuels to one that creates its electricity from renewable sources such as the sun, wind or geothermal energy, should help provide countries with more energy security in the future. Many nations have therefore set targets to be achieved before 2020 in which they want a certain amount of…

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    Green Energy is About Green Backs

    Posted: 23 Feb 2012 04:06 PM PST

    While most major economies agree that some form of alternative and renewable resources are needed as part of the emerging energy mix, embracing frontier areas like wave arrays might be more about changing the way decision-makers think about energy than simply about the saving the environment. That’s how Richard Yemm, founder of Scottish company Pelamis Wave Power, sees it anyhow. He says efforts underway in Europe aren’t just about protecting the environment, they’re about new ways to provide energy that make economic sense. He’s not, after all,…

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    Life After Oil – A Look at the Latest Clean Technology Developments

    Posted: 23 Feb 2012 04:03 PM PST

    Gasoline prices in the U.S. are off on another tear. The national average just went by $3.57 for regular and due to a little problem of several major refineries that serve the U.S.’s East Coast shutting down, here in Northern Virginia we are running 20 to 25 cents a gallon higher than normal. The wisest of the prognosticators say we should seeing circa $4+ a gallon by late spring so the Washington area will likely be seeing circa $4.50. In case you missed it, they are already getting $5 for regular down by the Kennedy Centre. Somebody in Congress…

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    India’s Soaring Energy demands strain national grid

    Posted: 23 Feb 2012 03:59 PM PST

    As the “Third World” races to industrialize, rising population demands for reliable energy place increasing stress on a country’s power generating capabilities, and nowhere is this more evident than in BRIC nation India. “Energy from anywhere” seems to be New Delhi’s motto, as the cost of India’s energy imports is proving a significant drag on the otherwise explosive growth of the nation’s economy. India, the world’s fourth largest oil importer, ships in 80 percent of its oil requirements. The detrimental…

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    Hydrogen Fuel Cells: Not Long to Wait Now

    Posted: 23 Feb 2012 03:57 PM PST

    Fuel cells are one of those technologies we have covered before, usually citing some manufacturer who is fan-faring a new technology purported to be game-changing for the cost structure of the hydrogen fuel cell market. So far, fuel cells are used predominantly in specialist applications such as submarines and space vehicles, or in remote areas where power requirements are low yet refuelling is expensive or difficult — or both. The breakthrough application would be an economically viable application in automobiles, but according to the FT,…

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    Prices of WTI and Brent Should Realign with a Gulf Coast Pipeline

    Posted: 23 Feb 2012 03:55 PM PST

    The Keystone Gulf Coast Expansion Project is now entering its fourth year of regulatory review, and is currently on indefinite political hold. In the meantime, the market is figuring out other alternatives. A key demonstration of the need for better oil transportation infrastructure in the United States is the price gap between West Texas Intermediate, a light, sweet crude traded in Cushing, Oklahoma, and Brent, a similar crude from the North Sea. The Law of One Price suggests that these very similar products should sell for a very similar price,…

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    DOE no Longer Able to Fund Clean Technology Ventures after Budget Cuts

    Posted: 23 Feb 2012 03:42 PM PST

    The US Department of Energy’s (DOE) days as a financier of clean technologies are over thanks to the Solyndra backlash, but budget cuts would have prevented the department from functioning in that role anyway, according to NRG Energy’s chief executive. “It was the headline for a good part of the year in 2011,” David Crane, president and CEO of power generator NRG Energy, said of the Solyndra situation at the Jefferies 2012 Global Clean Technology Conference in New York on Wednesday. “In all likelihood it will be a headline into a good part of the…

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    A Unified North Africa Could Help Europe Reach its Clean Energy Goals

    Posted: 23 Feb 2012 03:16 PM PST

    In order to meet domestic energy demand, and outsource clean energy to nearby Europe, Morocco started to invest in new energy sources, such as wind and solar farms. Europe has been interested in the potential for renewable energy in North Africa for a few years due to limited space and uncertain weather at home. Obviously the electricity will be primarily used to supply Morocco, but the excess will be transported to European grids and will help them to reach the set goal of 20 percent renewable energy by 2020. In 2009 the ball started rolling with…

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    Japan Reluctant to Sign New Deal with Iran until US Give the OK

    Posted: 23 Feb 2012 03:14 PM PST

    As the US and EU trade sanctions draw closer Iran are looking to secure increased export volumes to their largest customers in Asia. China, the largest importer of Iranian Oil, has almost agreed a new deal for increased supply at a discount compared to market prices, and India is currently in discussions over increased shipments. Asia is generally supporting Iran and ignoring the threats from the US … except for Japan. Three Japanese refiners are stalling on signing new contracts for 2012 with OPEC’s second largest oil producer. They…

    Read more…

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