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a community peak oil portal
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| Europe faces fresh New Year Russian gas crisis |
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 HONG KONG (Reuters) - A fresh New Year energy crisis is brewing in Europe as Russia prepares to foist an indigestible price rise onto Ukraine, putting European supplies at risk, a leading expert on the sector warned on Tuesday.
Jonathan Stern, director of gas research at the Oxford Insitute of Energy Studies, said Russia's pledge to pay Central Asian gas suppliers "international prices" for gas from Jan.1 meant a huge increase in the price Russia demands from Ukraine.
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| Pickens Sticks with $150 Oil; Could Fall to $100 |
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 Legendary oil investor Boone Pickens stood by his forecast that oil prices will hover around $150 a barrel now and told CNBC that they may fall to about $100 in two years.
"I'll stick with $150 (per barrel)," Pickens, who is also CEO of BP Capital, told "Squawk Box". "Demand going down, that's what will bring this thing in better balance".
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| Heinberg: Want Cheap Oil? Reduce Demand! |
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| Ask the major oil companies or the US Department of Energy why oil prices are beyond ludicrous and they’ll tell you there’s plenty of oil out there, there’s just a lack of investment in exploration and production—particularly on the part of the national oil companies in OPEC.
Funny, the level of investment in the global oil industry hasn’t dropped off a cliff lately. Yet oil prices have shot up like asparagus in April. What’s going on here?
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| Looking to buy a hybrid vehicle?
So is everyone else.
It could take two months to 90 days to locate one in Cheyenne. But the waiting lists are even longer in Colorado, sending buyers north as they search for an opening.
The rush began as soon as gasoline prices inched upward, and the pressure also is shrinking the supply of smaller vehicles.
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| Minister's warning on fuel prices (UK) |
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| Welsh Transport Minister Ieuan Wyn Jones has written to the UK Treasury to warn about the impact spiralling fuel prices are having on hauliers in Wales.
The Plaid Cymru leader and assembly government deputy first minister met hauliers' representatives last month.
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| School Bus Gas Shortage in South Carolina |
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| Just a few weeks from the start of school, South Carolina could soon be facing a $12 million deficit in money to school the state's school buses.
We're talking about 5,700 buses and about 12.5 million gallons of fuel, that's what it takes to get your kids to school. But, by Christmas this year, the buses could be running on fumes.
Everyone -- including 7-year-old Russell -- knows gas prices are sky high.
"It's kind of hard, it's real hard. A lot of single parents (are) really getting ready to feel the heat right now," says parent of 3, Carrie Richardson.
School buses, what many of you rely on to get your kids to school, could soon be out of service and more than your wallet could take a hit.
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| As gas prices bite, Americans go Roman and eye up Vespas |
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| For the longest time, big has been beautiful in America, at least in terms of cars. But as petrol prices bite into American pocketbooks, US motorists are ending their love affair with the "Yank tank", and many are considering the ultimate step in downsizing: losing two wheels and riding a scooter.
"Americans love cars, especially big cars, and for them to decide to use something different has not been an easy decision," Paolo Timoni, chief executive of Piaggio Group Americas, producer of the classic Italian Vespa and Piaggio scooters that crowd roundabouts from Rome to Naples, told AFP.
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| More airlines fold as fuel prices soar - IATA |
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 Twenty-five airlines went bust or stopped operations in the first six months of this year and more could fold as fuel prices soar, a spokesman for aviation industry association IATA warned.
'In the last six months we suspended 25 airlines from the settlement system. Suspension occurs when an airline goes bankrupt or ceases operations. This is more concentrated than at any time in the history of the system,' an IATA spokesman told Agence France-Presse.
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| High Heating Oil Prices Signal Need For Migration |
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| The poorer folks in New Hampshire are worrying over how they'll keep warm in the next winter. Modest proposal: move to dwellings which cost less to heat.
With the average price of heating oil at $4.53 a gallon, and the average use in New Hampshire about 800 gallons of oil each winter, a pre-buy contract can cost as much as $4,000.
The price of heating oil could hit $5 or more this winter. Poor folks in cold states won't be able to afford it. Agencies that provide tax-funded heating oil aid will get far more applications while at the same time existing claimants will want more money to pay for the higher prices. Some people are going to get really cold.
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| Still farming, but for how long? |
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| Clifford Wells expects to receive 3 cents a pound more on his tobacco crop this year than he did last year.
Problem is, Wells is spending twice as much on fuel for his farm vehicles and nearly triple for fertilizer on the 320 acres he farms in Carter County where he grows tobacco, raises beef cattle and the corn and hay to feed them.
“I’m just trying to keep my head above water,” said Wells, 43, who lives on a farm which has been in his family for four generations. “But I don’t know how much longer I can hold out.”
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| Fishermen say high fuel costs forcing them out of business |
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| Alaska fishermen are hoping to catch tax breaks on two fronts: high fuel costs, and oil spill payouts (if any) from Exxon.
"We're seeing a 69% increase in fuel costs in Cordova from June of last year," said Sen. Lisa Murkowski (R-AK) in a phone interview after she traveled to several fishing communities. "In Dillingham the increase is 54%. In Kodiak, it's 58% over last year. Fishing families can't sustain this."
Murkowski said she is deeply troubled by the number of fishermen who tell her that high fuel costs are forcing them out of business.
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| U.S. gasoline to average $3.84/gal this year - EIA |
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| Gasoline prices will remain above $4 a gallon for the rest of the year, while oil prices will continued to be pressured by the tight market for crude, the U.S. Energy Information Administration said on Tuesday.
Regular-grade gasoline in the United States is expected to average $3.84 a gallon in 2008, up from a previous forecast of $3.78 a gallon, the agency said.
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| Oil speculation: Why we don't have answers |
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| The debate over whether oil prices are being driven by speculators in the futures market or by the fundamentals of supply and demand for the physical product slides right on by a central point. The question Congress and regulators should be focusing on isn't who is driving prices, but how prices are being driven.
And the truth is, there's an awful lot we don't know.
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| Saudi Arabia's Waning Influence On the Oil Market |
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 vox_mundi writes: In the 1970s, particularly during the oil embargo of 1973, the oil market was almost single-handedly dominated by then-Saudi Oil Minister Sheikh Ahmad Zaki Yamani. "For more than two decades," writes Pamela Sherrid, "Ahmed Zaki Al-Yamani's commands boosted or battered personal pockets books and national economies around the world." [1] Today, when Saudi Oil Minister Ali Al-Naimi talks, the market yawns, and when his king announces in an international conference that Saudi Arabia will increase crude production, the price of oil goes up.
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| Cheney wanted cuts in climate testimony |
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| vox_mundi writes: WASHINGTON - Vice President Dick Cheney's office pushed for major deletions in congressional testimony on the public health consequences of climate change, fearing the presentation by a leading health official might make it harder to avoid regulating greenhouse gases, a former EPA officials maintains.
When six pages were cut from testimony on climate change and public health by the head of the Centers for Disease Control and Prevention last October, the White House insisted the changes were made because of reservations raised by White House advisers about the accuracy of the science.
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