An End to the Petrodollar?
November 13, 2007 10:44 AM - , Triple Pundit
On Friday, June 16, 2006 Samuel Brittan wrote in the Financial Times (page 11) that "the most likely trigger for a dollar collapse would be a US housing market setback." I read this with gratitude that someone was actually addressing this important global threat but I had to respectfully disagree. The greatest threat to the role of the US dollar as the international reserve currency, and indeed the global economy itself, is a sudden end to petrodollar hegemony.
London buys hydrogen-fuelled red buses
November 13, 2007 08:29 AM - Reuters
London's mayor said on Tuesday he had signed a 10 million-pound ($20.7 million) deal for ten hydrogen-powered buses to help reduce pollution and CO2 emissions in the UK capital.
Nanosolar: Power to the people
November 13, 2007 08:19 AM - , Triple Pundit
Nanosolar coatings are as thin as a layer of paint and can tranfer sunlight into power quite efficiently. Imagine the possibilities, from solar coated shingles to solar lined windows to solar powered cell phones and ipods. Solar powered buildings and homes might just become standard in the future thanks to this innovative technology by Nanosolar Inc. The almighty dollar will launch these thin-film solar cells into worldwide applications thanks to the fact that it's actually cheaper than burning coal.
Dutch official wary of biofuels impact on food supplies
November 13, 2007 07:28 AM - Reuters
Policymakers should be cautious of biofuels' effect on food costs, Dutch Agriculture Minister Gerda Verburg said, emphasizing the need to develop new non-food raw materials.
First-generation biofuels are usually made from crops such as grains and vegetable oils but have raised concerns that they are driving up food prices and could lead to shortages.
Pump price to jump 20 cents next 2-3 weeks: government
November 12, 2007 06:39 PM - By Tom Doggett
WASHINGTON (Reuters) - U.S. consumers could pay record gasoline prices for the upcoming Thanksgiving holiday with pump costs expected to climb another 20 cents over the next two to three weeks, the government's top energy forecaster warned on Monday.
Guy Caruso, who heads the U.S. Energy Information Administration, said not all of the recent jump in crude oil prices has been reflected in motor fuel costs which now top $3 a gallon in many parts of the country, about 80 cents more than a year ago.
"We haven't seen the full pass-through (of high oil prices) yet," Caruso told reporters at a briefing on oil market conditions held at Energy Department headquarters. "I would say what's in the pipe right now (for gasoline) is about another 20 cents."
Waste Water Plus Bacteria Make Hydrogen Fuel: Study
November 12, 2007 06:20 PM - By Deborah Zabarenko, Environment Correspondent, Reuters
WASHINGTON (Reuters) - Bacteria that feed on vinegar and waste water zapped with a shot of electricity could produce a clean hydrogen fuel to power vehicles that now run on petroleum, researchers reported on Monday.
These so-called microbial fuel cells can turn almost any biodegradable organic material into zero-emission hydrogen gas fuel, said Bruce Logan of Penn State University.
This would be an environmental advantage over the current generation of hydrogen-powered cars, where the hydrogen is most commonly made from fossil fuels. Even though the cars themselves emit no climate-warming greenhouse gases, the manufacture of their fuel does.
Energy From Hot Rocks
November 12, 2007 01:02 PM - UC Davis
Two UC Davis geologists are taking part in the Iceland Deep Drilling Project, an international effort to learn more about the potential of geothermal energy, or extracting heat from rocks.
Professors Peter Schiffman and Robert Zierenberg are working with Wilfred Elders, professor emeritus at UC Riverside, Dennis Bird at Stanford University and Mark Reed at the University of Oregon to study the chemistry that occurs at high pressures and temperatures two miles below Iceland.
"We hope to understand the process of heat transfer when water reacts with hot volcanic rocks and how that changes the chemistry of fluids circulating at depth," Zierenberg said. "We know very little about materials under these conditions."
Costly oil dangerous but not deadly
November 12, 2007 12:25 PM - By Brian Love - Analysis
PARIS (Reuters) - Costly crude oil, which recently neared $100 a barrel, may no longer be the certified economy killer the West dreaded in the 1970s, but it could still produce a nasty cocktail if mixed with the world's other economic woes.
Many economists believe crude's latest surge, which has fuelled renewed talk of inflation and stagnation, is still not enough on its own to derail the economy of the United States and others among the world's richest countries.
But the latest leg in oil's five-year climb coincides with a U.S. housing slump and a subprime mortgage defaults crisis that has hit bank profits, triggered a global credit crunch and proved no boom is never-ending. Food prices are also soaring.
U.S. Oil Slides Below $96
November 12, 2007 08:41 AM - Reuters,
LONDON - U.S. oil slid below $96 on Monday after top exporter Saudi Arabia said OPEC would look at raising output to brake oil's ascent towards $100 and safeguard world economic growth.
But North Sea Brent crude oil recouped some losses on news of a militant attack on Nigeria's Qua Iboe oil terminal and the temporary closure of Russia's main Black Sea port of Novorossiisk as a storm approached. Europe is first to feel the impact of export interruptions from Russia and Africa.
Researchers build a better leaf
November 12, 2007 08:35 AM - University of Illinois, Diana Yates
CHAMPAIGN, IL. - University of Illinois researchers have built a better plant, one that produces more leaves and fruit without needing extra fertilizer. The researchers accomplished the feat using a computer model that mimics the process of evolution. Theirs is the first model to simulate every step of the photosynthetic process.