With world attention focused this month on Japan's earthquake disaster and nuclear crisis and the revolt to overthrow Moammar Gadhafi in Libya, few noticed what some are describing as a "proxy war" between Saudi Arabia and Iran in the small kingdom of Bahrain.
No better measure exists of change in climate politics than the lone amendment Democrats managed to attach to a House bill last week blocking regulation of greenhouse gases by the Environmental Protection Agency.
"Rising Prices on the Menu," says the title of an article in an International Monetary Fund magazine that predicts an extended increase in the price of food.
Like some Biblical curse, war and natural disaster rode roughshod over world oil markets in late March as the North Atlantic Treaty Organization enforced a no-fly zone in Libya while Japan struggled to regain control of its nuclear power plants and economy damaged by a massive earthquake and tsunami.
The unfolding crisis in Japan—the world's third largest economy and fifth largest energy user—has major implications for both the nuclear and the oil and gas sectors, said industry analysts.
Crude oil futures prices rose 1.6% on speculation Japanese rebuilding efforts will bolster fuel consumption, with gasoline production recovering to nearly to the point where it stood before the Mar. 11 earthquake and tsunami.
Even as Allied warplanes continue their bombing campaign against Libya's ruling regime, the US and the European Union have announced extended sanctions against 14 separate companies owned by Libya's state-owned National Oil Corp. (NOC).
Britain's legendary Prime Minister Winston Churchill must be rolling over in his grave, given new taxes the UK government plans for the nation's oil and natural gas industry.
Federal officials have released a two-volume report from Det Norske Veritas (DNV) on the forensic examination of the Deepwater Horizon blowout preventer (BOP), and the report recommends additional study be done on the BOP's mobility to fully close and seal the Macondo well.
The UK government Mar. 22 issued a report saying existing deepwater oil and gas drilling rules address most concerns raised by the parliamentary Energy and Climate Change Committee following the Macondo well blowout and spill in the Gulf of Mexico.
ExxonMobil Corp. expects to add nearly 1.4 million boe/d net to its production by 2016, and oil will account for 80% of that new production, company executives recently told analysts in New York.
Rising gasoline prices have reignited debate over whether energy commodities regulation should include new curbs on speculation as Congress heads into a week-long recess.
Increased US oil production won't have an immediate effect on global prices, but it could potentially supply other key US economic benefits, experts told the US House Energy and Natural Resources Committee on Mar. 17.
Global interdependencies among gas markets will continue over the next decade, said Wood Mackenzie's Noel Tomnay, head of global gas research, in remarks to Gastech in Amsterdam on Mar. 21.