Energy Literacy Advocates Newsroom

Energy Literacy Advocates (ELA) is a non-partisan, non-profit, public education and advocacy group dedicated to improving the energy literacy of all sectors of our democracy in order to empower a comprehensive national energy policy that is responsible and sustainable. Stay tuned for updated energy news!

Monday, April 21, 2008

"Practical Peak Oil" Policy Highlighted in Saudi Arabia

In remarks that flew under the radar screen of American media, Saudi Arabia's King Abdullah revealed orders to preserve new oil discoveries untapped, in order to extend the reign of oil wealth in his country. "When there were some new finds, I told them, 'no, leave it in the ground, with grace from god, our children need it'," King Abdullah said.

King Abdullah's position mimics that of Saudi oil minister Ali al-Naimi who, when asked "How high can your production go?" replied, "We’ll get to 12.5 million barrels a day and then we’ll see." Current Saudi production capacity stands at roughly 11.3 million bpd.

To read more on this subject, including the responses of American energy analysts, click here.

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posted by Amanda Voss at 3:06 PM 0 comments

Tuesday, April 15, 2008

Second Largest Oil Producer Posts Production Decline

Russia, the world's second-largest oil producer, indicated that it has hit a plateau in production. In fact, Russia’s oil production last month, 9.76 million b/d, declined 1.3% compared to March 2007. Compared to last October’s high-water mark of 9.93 million b/d, production has declined 2.4%.

Previously, the Russian Natural Resources Minister warned that a drop in oil production was likely for 2008 compared to 2007. The downturn in Russian oil production did not come as a surprise within the country, since various Russian experts during 2004-2005 vocalized concerns about future slowdowns.

The lack of sufficient pipeline capacity, high decline rates from aging fields, and tough new tax regimes all grab some share of the blame for the stagnant oil production rates. It is predicted that Russia will cut taxes on oil companies to encourage development of new, harder-to-reach deposits and thereby alleviate the market stagnation.

The full text of this article appears in the April 14, 2008 edition of Peak Oil Review, courtesy of ASPO-USA. To link to the article, click here.

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posted by Amanda Voss at 2:15 PM 0 comments

Thursday, April 10, 2008

Oil Prices Hit Historic High

Oil prices set a new record high during trading on Wednesday, April 9, topping out at $112 per barrel. Rising oil prices can not turn to OPEC for alleviation, as producers maintained their decision to cap production at current levels.

Additionally, the larger than anticipated fall in U.S. crude and gasoline inventories coupled with the declining value of the dollar spurred oil trading on to a record high.

For more, click here.

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posted by Amanda Voss at 8:49 AM 0 comments

Friday, April 4, 2008

Transportation Sector Continues to Plague U.S. Trade Deficit

The United States' trade deficit, which totaled $815 billion in 2007, continues at nearly double the levels of 2001. According to the U.S. Department of Energy, petroleum currently accounts for 36% of the share in the deficit, or $293 billion, while automotive vehicles and related parts account for 16.9%.

The trade deficit is calculated by measuring the annual amount spent by U.S. individuals, companies, and government agencies on foreign-made products, minus the amount spent by foreign entities on U.S.-made products. The heavy and costly reliance of the U.S. on imported oil is easily seen in these deficit calculations.

For further information, click here.

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posted by Amanda Voss at 12:57 PM 0 comments

Tuesday, April 1, 2008

A Green Remake for the Great Race

May 30, 2008 will witness green-tech cars embarking on an historic 22,000 mile race from New York to Paris to prove their engineering mettle. The race's predecessor, run in 1908 - and still the longest automobile race on record - showcased evolving automotive technology as cars battled from New York to Paris. These pioneering accomplishments went on to inspire the 1965 film, The Great Race.

This year, on its hundredth anniversary, the race highlights green technology vehicles powered by renewable energy or achieving hyper fuel efficiency. Early entries include a Ford prototype vehicle, a production hybrid-electric model, and a 1967 Aston Martin DB-6 Vantage, running on ethanol-85. For more on the race, entry guidelines and competitors, click here.

Find the full article on page 24 in the May 2008 edition of Automobile magazine (Vol. 23, No. 2).

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posted by Amanda Voss at 2:41 PM 0 comments