Archive for October, 2009
Eastern Mass. Heating Oil Company Weathers Hardship
The rollercoaster of oil market volatility doesn’t just affect heating oil consumers. Home heating companies feel the pinch, too, and more than a dozen saw their demise in the wake of the 2008-2009 winter season. High summer prices, broken lock-in contracts and the economic meltdown have made it difficult of late for companies to stay [...]
Read More »Despite Differences, Western States Agree to Cooperate on Energy
This week, representatives of western states met at a symposium convened to coordinate efforts related to energy policy, as reported in an AP article published on Wednesday.
Attendees reached a consensus on some issues, agreeing that a new system needs to be put in place when planning and constructing new power lines. But on other issues, [...]
Chamber Of Commerce Sues Yes Men—Fake Press Conference Leads To Real Lawsuit
As our Kristy Kershaw reported October 20, the Yes Men staged an elaborate fake news release and press conference (backed up by fake reporters and a fake website) in which the US Chamber of Commerce allegedly threw its support behind the Kerry-Boxer climate change bill.
Unamused by the performance group’s claimed political satire, the US Chamber [...]
Markey Lauds Students’ Green Home Designs at Solar Decathlon
Last week saw the end of the 2009 Solar Decathlon, an engineering competition sponsored by the Department of Energy. For three weeks in October, twenty teams of college and university students competed to design, build, and operate the most energy-efficient home. To express his gratitude to the ingenious (and, no doubt, rather exhausted) participants, Representative [...]
Read More »Big Oil’s Profits Sink Despite Climbing Prices
Major oil companies Royal Dutch Shell and Exxon Mobil reported significant third quarter losses of 62 percent and 68 percent, respectively, according to Bloomberg News. Even though crude prices have been rising steadily since the beginning of 2009—and especially in the past several weeks—profits for some of the world’s biggest oil companies are still plunging.
These [...]
Heating Oil Weekly Roundup: the Climate Bill, the Future of Energy, and Iraqi TV
The climate bill underwent three days of debate in the Senate, and all political and environmental analysts are attempting to handicap its chances. At The New Republic, Bradford Plumer assesses the possible Republican gambit of boycotting the “markup session,” holding up the bill before it comes out of committee. For Politico’s Lisa Lerer, Max Baucus—a [...]
Read More »Saudi Arabia Shakes Up Oil Markets By Dropping WTI Pricing
The Financial Times reported Wednesday on Saudi Arabia’s decision to drop the West Texas Intermediate (WTI) oil contract as the benchmark for pricing its oil.
The Saudis made the move due to increasing discontent with the WTI “after the price of the benchmark became separated from the global oil market this year.” The decision is a [...]
Third Day of Climate Bill Debate Focused on Timetable, Economics
In the third and final day of hearings on the climate bill in the Senate, Republican opposition centered on two objections, reports the New York Times. Senators James Inhofe (R-OK) and George Voinovich (R-OH) worried about the rapid pace of the bill moving through Congress and the EPA’s economic analysis of the bill, which they [...]
Read More »Rising Oil Prices Not Hurting Economic Recovery…Yet
According to a Wall Street Journal article published on Wednesday, the jump in oil prices to one-year highs this month has yet to stunt economic recovery.
Oil prices have risen nearly 13% in October and have recently been hovering around $80 a barrel. Meanwhile, the US dollar continues to weaken. As we previously reported, this price [...]
Energy Expert Ballentine: Promise of Florida’s Offshore Oil is Exaggerated
For years, the US oil industry has touted domestic offshore drilling as a pivotal component of any solution to this country’s energy issues. But many disagree, and question whether exploitation of coastal waters for fuel would bring the benefits that supporters claim.
An opinion piece from Tallahassee.com echoes this skeptical sentiment. Looking specifically at Florida’s near-shore [...]
Proposed NJ Rebate Program Would Reward Heating Oil Users Who Purchase Efficient Equipment
Good news for New Jersey residents looking to make their homes more energy efficient.
The state Board of Public Utilities is seeking federal approval for an $8.33 million rebate proposal that would encourage residents to buy energy-efficient electrical devices including oil-fired burners and boilers, according to NorthJersey.com. If approved, the rebate would go into effect in [...]
Palin Offers New and Old Arguments in Support of Increased Domestic Drilling
The dialogue over energy and climate policy has generally been dominated by the Administration and its Congressional allies. There’s nothing sinister in this—President Obama is a, or perhaps “the” leading governmental proponent of de-emphasizing fossil fuels such as coal, oil, and natural gas in favor of alternative and renewable energy. It’s entirely appropriate for him, [...]
Read More »Alaska Coast Guard Turns to Biomass for Heat
Buildings located at two Coast Guard bases in Alaska will soon be heated using biomass comprised of timber, the Juneau Empire reported on Wednesday.
The buildings are part of the Coast Guard’s stations in Ketchikan and Sitka, two cities located in the southeastern part of the state. Currently, these two stations consume 155,000 gallons of heating [...]
Senate Committee Holds Sharp Debate Over Climate Bill
And we’re off. The Senate hearings on climate legislation began Tuesday, and as NPR reports, things were heated. The Senate’s version of the climate bill promises a cap and trade system that would put an extra price on fuel and systems that emit greenhouse gases. Depending on which side of the aisle you are on, [...]
Read More »Heating Oil Price Trend for October 30: +6¢
Data showing economic growth in the US fuelled optimism about economic recovery and sent oil prices upward on Thursday. After four quarters of decline, US GDP rose by 3.5 percent, outperforming expectations and convincing some that the recession had ended. However, economic growth has yet to lead to higher oil demand, as evidenced by brimming [...]
Read More »UN Climate Chief: Comprehensive Emissions Treaty “Impossible” This Year
Think negotiators might reach a serious global-warming treaty at the upcoming conference in Copenhagen? Think again, Bloomberg reported on Wednesday.
In an interview with Environment & Energy Publishing, Yvo de Boer, the U.N.’s top climate change official said that industrialized countries need to provide clear indications what how much financial support they are willing to give [...]
How the US Became an Exporter of Distillate Fuel
Distillate fuel is one category of fuel oils that are derived from crude oil. While crude oil also produces gasoline, jet fuel, and heavy fuel oils used in paving, distillate fuel refers to diesel and, most importantly to readers of this site, heating oil. And while they may be used for different purposes, heating oil [...]
Read More »Obama Admin. Revs Up Support For Climate Legislation
In a TreeHugger.com report on Wednesday, Brian Merchant tackles what he considers the Obama administration’s long overdue push for clean energy reform. While environmentalists accused President Obama of standing on the sidelines during the climate bill’s first round through the House, this time he’s taking a more proactive role. Recently key administration officials have spoken [...]
Read More »Oil Drilling Auction Protester Planning to Put Global Warming on Trial
Last year, Tim DeChristopher disrupted a U.S. Bureau of Land Management oil lease auction by placing bids he couldn’t honor. He did this to throw a wrench into oil exploration and drilling, and in the process “won” 22,500 acres he couldn’t pay for, taking them at least temporarily off the market, and drove up prices [...]
Read More »Debate Over Biofuels’ Carbon Footprint Heats Up
It has become a widely held belief, if not a dictum of environmental gospel, that biofuels are the future of a clean, energy-efficient America. After all, some leading climate scientists have argued that burning ethanol or switch grass produces no carbon emissions—and what’s greener than that? When compared to fossil fuels like coal and oil, [...]
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