Recent Gas News/GasBuddy Blog

Bloomberg -- Chevron Corp. reported a spill of 50 pounds of sludge oil at its refinery in El Segundo, California, according to the California Emergency Management Agency Web site.

The spill happened about 10:45 p.m. local time yesterday, the filing showed. Most of the material was contained and some of it spilled onto the pavement, the company said in the filing. It was being cleaned up by a contractor, the report showed.

The El Segundo plant is capable of processing 260,000 barrels of crude a day, according to data compiled by Bloomberg. The refinery is the largest in California, according to the U.S. Energy Department.  (go to article)

Bloomberg -- Valero Energy Corp., the largest U.S. independent refiner, will spend $200 million to improve reliability at a gasoline-producing unit at its St. Charles refinery in Norco, Louisiana.

The project will reduce the frequency of required maintenance on the unit, giving the company access to a larger amount of processing capacity over the course of two years, Chief Executive Officer Bill Klesse said.

The unit, a fluid catalytic cracker, has the ability to process 100,000 barrels of crude oil a day, Klesse said after attending the National Petrochemical and Refiners’ Association annual meeting in Phoenix.  (go to article)

Bloomberg -- Royal Dutch Shell Plc and PetroChina Co. agreed to buy Arrow Energy Ltd. after increasing their offer to A$3.5 billion ($3.2 billion), marking China’s entry to Australia’s coal-seam gas industry.

Shell and PetroChina will pay A$4.70 cash a share for Arrow’s Australian business, the Brisbane-based company said today. The price was raised from A$4.45 and is 35 percent above the stock’s level before the initial bid was reported March 8. Investors will also get shares in a new company holding Arrow’s gas assets in China, Indonesia, India and Vietnam, which may be worth as much as A$400 million, according to analysts.  (go to article)

Bloomberg -- Oil India Ltd. and Indian Oil Corp. may raise their offer for Gulfsands Petroleum Plc after the U.K. company with assets in Syria and the Gulf of Mexico spurned an approach valuing it at about 380 million pounds ($570 million), a person familiar with the matter said.

The two state-owned Indian companies want more feedback from London-based Gulfsands and haven’t decided on their next step, said the person, who declined to be identified because the situation remains under discussion. Investment bank Seymour Pierce is advising the bidders, said the person.

The original approach was at 315 pence a share, said two people familiar with the matter, who declined to be identified because the figure hasn’t been publicly disclosed. Gulfsands termed the offer “wholly inadequate” on March 19.  (go to article)

Bloomberg -- Crude oil fell for a third day in New York amid concern governments around the world may follow India in raising interest rates, damping the recovery in global fuel demand.

Oil slipped as the U.S. dollar traded near a three-week high against the euro, dimming the appeal of commodities for hedging against inflation. The commodity plunged 1.9 percent on March 19 after India unexpectedly raised rates, sending the dollar higher.

“Immediate oil market fundamentals haven’t justified gains beyond $80,” said Andrey Kryuchenkov, an analyst with VTB Capital in London. “Until seasonal demand picks up and reduces the stockpile overhang, we’ll keep trading on external factors such as the dollar and concerns over eventual monetary tightening.”  (go to article)

NEW YORK (CNNMoney.com) -- Toyota Motor Corp., under fire for how it handled its recall of more than 8 million cars has a new problem, but it's a tiny one. The carmaker is recalling two Tundra pick-up trucks.

Not two models of Tundra truck, mind you. They're recalling exactly two trucks.

As part of -- actually, all of -- the National Highway Traffic Safety Administration's recall campaign number 10V091000, Toyota is recalling two model year 2010 trucks built on October 24 in its San Antonio, Texas, factory because an improper weld on the front propeller shaft could cause it to separate.

A total of 500 trucks were made that day with the faulty part. When the problem was discovered, during a vehicle test, two trucks had made it all the way to customers' homes.

To fix the problem, Toyota will replace the front  (go to article)

David Shepardson / Detroit News Washington Bureau -- Washington -- Angry shareholders are the latest group to sue Toyota Motor Corp. in the wake of its recall of 8.5 million vehicles worldwide over sudden acceleration concerns.
The suits could cost Toyota billions of dollars and are likely to drag on for years, experts say.
At least three class-action lawsuits alleging securities violations have been filed against the Japanese automaker in recent weeks. One suit, filed by the law firm Murray, Frank & Sailer in U.S. District Court in California-- is on behalf of shareholders who purchased stock between Dec. 22, 2009 and Feb. 2, 2010.
The suit charges that Toyota issued "materially false and misleading statements" regarding Toyota's operations, business, and outlook.
Toyota "failed to disclose ongoing safety issues and quality control problems  (go to article)

Drive Smartly, Save Money -- The cost of driving to work, running errands, or vacationing by has risen sharply with higher gasoline prices.




But there are ways to save money at the pump. For example, you don't need to use high octane gas unless your car is pinging and knocking or you have a high-performance engine and the manufacturer recommends premium gas.

You can significantly lower your driving costs with these gas-saving tips:  (go to article)

Commissioner Says Mass. Also Has No Plans To Set Up Tolls -- CONCORD, N.H. -- New Hampshire has decided not to install tollbooths on Interstate 93 in Salem.

In a letter sent to Gov. John Lynch on Friday, Transportation Commissioner George Campbell said that even though there is a $250 million shortfall in funding for the $800 million I-93 expansion project, the state shouldn't build tolls in Salem.

Campbell said tolls would be a bad idea in the area because the geography would only allow all-electronic tolling, instead of open-road tolling, which is being introduced at other toll plazas.

He said that users of the tolls would also be paying for a section of the project that is already funded. Massachusetts has also assured New Hampshire that it has no plans to place tolls on the border, Campbell wrote.

The governor's office said Lynch has  (go to article)

CURT ANDERSON, AP Legal Affairs Writer -- MIAMI -- Toyota shareholders incensed over a sudden drop in the Japanese automaker's stock price are heading to court with lawsuits claiming company executives deliberately misled investors and the public about the depth of accelerator problems in millions of its vehicles.

At least three proposed class-action lawsuits filed by Toyota investors say the company gave false initial assurances that the sudden acceleration problem was a simple matter of floor mats trapping gas pedals, helping prop up the stock price.

The shareholder cases are part of an avalanche of potentially costly lawsuits against Toyota Motor Corp. over the acceleration issue, including those filed by crash victims and their families and those brought by Toyota owners contending their vehicles are worth far less becau  (go to article)

New York Times -- Coastal states that agree to oil and gas drilling off their shores would be offered one-quarter of the revenue, under the latest draft of the new climate and energy bill, sources on and off the Hill say.
Another 10 percent would go to the Land and Water Conservation Fund, with the remaining 65 percent going to the Treasury for deficit reduction,
But it still requires a delicate balancing act. Some Republicans demand the concession to even consider voting for the bill. Some coastal Democrats want revenue sharing for their states. But Senate liberals do not like offshore drilling, and they do not want to see anything that encourages it, such as revenue sharing.
For instance, it is unclear what would happen with drilling off the west coast of Florida, the last area closed to drilling after  (go to article)

Detroit News -- he 1963 Corvette Grand Sport roadster is the rarest and arguably most important Corvette model ever made. Only five were built, and they sell for millions at auction.
But an Ohio company is being sued by General Motors for churning out replica versions that sell for less than $90,000.
The lawsuit was filed this month in U.S. District Court against Mongoose Motorsports LLC of Cuyahoga Falls, Ohio, which specializes in building replica 1984-88 GTP models and the legendary Grand Sport.

GM is suing for trademark infringement, claiming the iconic brand has been irreparably harmed by the ersatz sports cars, which the automaker says copy the Corvette's design -- curve for curve.
GM wants a judge to bar the company from making and selling models using the Corvette design.  (go to article)

Los Angeles Times -- On a dirt plot near Bakersfield where a massive refinery once churned out gasoline and asphalt, one of the world's largest oil companies is looking for something more green.

On Monday, Chevron Corp. plans to reveal that it has transformed the 8-acre site into a sprawling test facility with 7,700 solar panels. The panels, in various sizes, represent seven cutting-edge photovoltaic technologies from seven companies that Chevron is checking out as possible candidates to power its operations worldwide.

Cost savings from past energy efficiency efforts have been significant, the company said. Since 1992, when Chevron began tracking its power use and using hydrogen fuel cells and solar panels at its facilities, the company cut its energy use by nearly a third and saved nearly $3 billion, King s  (go to article)

Denver Post -- After a punishing year when natural-gas prices slid to their lowest level since 2002, there are signs of life in Colorado's oil and gas fields.
The state's largest publicly traded producers have, in the past few weeks, issued capital forecasts for 2010 showing rigs and money flowing into Colorado.
Still, the state is facing competition as some companies move money and equipment to Texas, Pennsylvania and Louisiana, and smaller operators continue to hold off on drilling.
"It is a selective recovery," said Peter Stark, vice president for industrial relations at IHS Corp., a Denver-based consulting firm. "It is focused on the larger, low-cost producers and plays with oil and liquids."  (go to article)

New York Times -- CHATTANOOGA, Tenn. (AP) — More than a year after a Tennessee coal ash spill created one of the worst environmental disasters of its kind in United States history, the problem is seeping into several other states.

It began on Dec. 22, 2008, when a retaining pond burst at a coal-burning Tennessee Valley Authority power plant, spilling 5.4 million cubic yards of coal ash across 300 acres into the Emory River and an affluent shoreline community near Knoxville. It was enough ash to cover a square mile five feet deep.

While the T.V.A.’s cleanup has removed much of the ash from the river, the arsenic- and mercury-laced muck or its watery discharge has been moving by rail and truck through three states to at least six sites. Some of it may end up as far away as Louisiana.
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Reuters -- PHOENIX, March 21 - Valero Energy Corp Chief Executive Bill Klesse said on Sunday that the biggest challenge facing refiners in 2010 is the economy.

Klesse, who also heads the National Petrochemical Refiners Association, told the association's annual meeting that legislation in Washington is threatening the industry.  (go to article)

CNN -- Prices at the pump are up nearly 9 cents in the past two weeks and a total of 18 cents in the past month, but the increase is likely to slow, according to a survey published Sunday.

The national average for a gallon of self-serve regular is $2.81, the Lundberg Survey found in the survey conducted Friday.

That's an increase of 8.6 cents since the last survey two weeks ago, and a total increase of 18.2 cents in the past month.

However, the rise is not expected to continue over the next few weeks, said publisher Trilby Lundberg -- mainly because there is a glut of crude oil and gasoline, while demand remains relatively flat and is forecast to remain so because of economic conditions.
 (go to article)

ABC News -- NEW YORK (Reuters) - The average price for a gallon of gasoline in the United States rose 8.62 cents to $2.81 in the past two weeks as retailers raised their margins, according to an industry analyst.It was the second consecutive two-week period with an increase in the price of regular-grade gasoline.

But Trilby Lundberg, who edited the latest nationwide Lundberg survey of some 5,000 gas stations, which was conducted on March 19, does not expect the national average price for regular gas to go much higher in the coming weeks because of an abundance of crude oil supplies and a still-tentative global economic recovery.  (go to article)

CBS4.com -- As we enter Spring with an eye on Summer, not only are South Florida temperatures heating up, so are the prices at the pump.  (go to article)

Florida Today -- The price of regular unleaded gasoline may drop a few cents this week because of declining crude oil demand, AAA Auto Club South reported today.
Florida’s average price is $2.85 per gallon, up from $2.84 last week. But U.S. fuel consumption decreased by a more-than-expected 4.2 percent during the week of March 8, according to a report released last week by the Energy Department.  (go to article)

Consumer Affairs.com -- The economy remains sluggish and new car sales remain far below previous norms. That, along with the financial incentives Toyota has been forced to offer, has made for some deals in the new car showroom.

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Consumer News -- A class action lawsuit filed earlier this month claims that Midas offered a $130 “Lifetime Oil Change,” then abruptly pulled the plug, leaving thousands of consumers in the lurch.

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Associated Press -- Motorists are paying the highest prices for gas since October 2008. Retail gasoline prices rose on Thursday on an expected increase in demand and as more expensive spring and summer blends of gasoline make their way to the pumps.

The nationwide average hit $2.799 per gallon, a penny higher than Wednesday, according to AAA, Wright Express and Oil Price Information Service.

Prices have now jumped 18.9 cents in the past month and are 87.9 cents higher than year-ago levels. Back on Oct. 23, 2008 prices averaged $2.8215 per gallon.

The Energy Department and many industry experts expect prices to top $3 this spring
 (go to article)

The Detroit News detnews.com -- The new line of V-6 engines will contribute to an overall fuel-efficiency improvement of more than 25 percent across the Chrysler, Ram Truck, Jeep and Dodge lineup.

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CNBC -- Even though the peak driving season is still months away, gasoline prices have been creeping to their highest level since October 2008, and it looks like consumers should brace themselves for higher prices at the gas pump this summer.  (go to article)

nytimes.com -- Thousands of the nation’s largest water polluters are outside the Clean Water Act’s reach because the Supreme Court has left uncertain which waterways are protected by that law, according to interviews with regulators.

As a result, some businesses are declaring that the law no longer applies to them. And pollution rates are rising.

Companies that have spilled oil, carcinogens and dangerous bacteria into lakes, rivers and other waters are not being prosecuted, according to Environmental Protection Agency regulators working on those cases, who estimate that more than 1,500 major pollution investigations have been discontinued or shelved in the last four years.

excerpt...More than 200 oil spill cases were delayed as of 2008, according to a memorandum written by an E.P.A. official

 (go to article)

Moneynews.com -- U.S reserves of natural gas seem to have jumped dramatically during the past year, and the price of natural gas remains very low.

Four thousand trillion cubic feet of recoverable natural gas ought to be enough to get Washington’s attention, but somehow it isn’t, says energy investor T. Boone Pickens, “which makes us number one in the world.”

“We’ll be identified as the dumbest people in the world if we don’t capitalize on this resource and replace OPEC oil.”
 (go to article)

Reuters -- The average price for a gallon of gasoline in the United States rose 8.62 cents to $2.81 in the past two weeks as retailers raised their margins, according to an industry analyst.

It was the second consecutive two-week period with an increase in the price of regular-grade gasoline.

But Trilby Lundberg, who edited the latest nationwide Lundberg survey of some 5,000 gas stations, which was conducted on March 19, does not expect the national average price for regular gas to go much higher in the coming weeks because of an abundance of crude oil supplies and a still-tentative global economic recovery.  (go to article)

Globe & Mail -- Canada has more energy in its "proven, recoverable" reserves of coal than it has in all of its oil, natural gas and oil sands combined: 10 billion tonnes. The world has 100 times more: one trillion tonnes. These reserves hold the energy equivalent of more than four trillion barrels of oil. They are scattered in 70 countries, mostly in relatively easy-to-mine locations and mostly in democratic countries.

The United States alone has 30 per cent of the world's reserves, and scientists in Texas say they have found a way to convert coal into gasoline at a cost of less than $30 (U.S.) a barrel - with zero release of pollutants.  (go to article)

http://www.abengoabioenergy.com/bioethanol/eng/imagenes/logo.jpg -- Biofuels are under attack. The claim “Bioethanol is indirectly increasing GHG emissions” is just one of the many false statements being spread to the general public. We have decided to stand up and contest these falsities with supported evidence. We believe it is the right thing to do.  (go to article)

WIRED.COM -- By Tony Borroz

Some cars are so beautifully designed and exquisitely engineered that they transcend mere transportation to become works of art. They are rolling sculptures, and to see them is to think, “That car belongs in a gallery.”

Curators at the High Museum of Art in Atlanta agree. The museum is hosting an exhibition to celebrate automotive design, and it has gathered a very impressive assortment of cars. The Allure of the Automobile, which opens Sunday and runs through June 20, features 18 vehicles created in what could be called the golden age of design, from the early 1930s through the early 1960s.

The vehicles range from a 1933 Pierce Silver Arrow to a 1961 Ferrari 250 GT. Each is presented in the context of the Art Moderne and Postwar Modernity movements, and they all have a  (go to article)

Detroit Free Press -- Get ready for a broad array of fast, fun and fuel-efficient Fords.

The automaker's new Global Performance Vehicles department brings together Ford's finest go-fast thinking from Europe and the U.S.

It may lead to a line of sporty vehicles stretching from today's F-150 pickup and Mustang to the upcoming Focus compact and Fiesta subcompact.

The move could help Ford reach a new group of buyers: Young enthusiasts drawn to Asian models like the Honda Civic Si, Subaru WRX, Mitsubishi Eclipse and Hyundai Tiburon.  (go to article)

Reuters -- JERUSALEM, March 21 - Israel's Oil Refineries said on Sunday it swung to a net profit in the fourth quarter, boosted by a one-time gain.

Oil Refineries, Israel's biggest refinery, posted quarterly net profit of $182 million, compared with a net loss of $182 million in the fourth quarter of 2008.

The company said its results were influenced by $214 million of other income due to the revaluation of its holdings in Carmel Olefins and Haifa Basic Oils of $77 million and negative goodwill of $137 million created in the 50 percent acquisition of the two firms.

It added that financing expenses dropped to $26 million from $56 million, while higher crude oil prices also contributed.  (go to article)

bloomberg.com -- Australia needs to invest at least A$100 billion ($92 billion) in electricity infrastructure in the next decade to meet growing demand by consumers, the Minister for Resources and Energy, Martin Ferguson, said.

“We need more investment in electricity supply infrastructure,” Ferguson told business leaders in Brisbane, according to a statement released today. “For too many years, uncertainty about carbon pricing, state government privatization plans, retail price regulation, network regulation, and more recently, the global financial crisis, have hampered investment.”

The nation, the world’s largest shipper of iron ore, alumina, lead, zinc and coal, needs increased power generation to encourage new resource projects and avoid household blackouts during periods of high demand. Short
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Dallas News -- WASHINGTON – U.S. companies are getting squeezed out of the big Chinese wind-power market even as Dallas investors are bringing Chinese firms here via a big wind farm in Texas, according to a new industry report.

"They've used every measure you could possibly think of to enhance production of renewable energy equipment in China," said report author Alan Wolff of the trade law firm Dewey & LeBoeuf LLP.

U.S. Trade Representative Ron Kirk won a pledge from the Chinese last fall to drop rules giving preference to Chinese makers of wind-power equipment. But Kirk's office hasn't seen any evidence that the pledge has been carried out, said spokeswoman Carol Guthrie.

Meanwhile, Chinese manufacturers are entering the U.S. wind market under a joint venture led by Dallas investor Cappy McGarr.

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Chicago Tribune -- With the cost of gasoline expected to surpass $3 a gallon this summer, more motorists will be looking to save a few cents at the pump, but that's getting more difficult with an onslaught of new municipal gas taxes.
Cash-strapped municipalities — from Oak Lawn to Des Plaines to Glenview — have turned to taxing fuel to make up for plummeting revenue. Elmhurst is considering a 1.5-cent-per-gallon tax and Naperville is weighing whether to add 2 or 3 cents to its 2-cent-per-gallon tax.

To make the tax more palatable, some communities are designating the money for road and infrastructure improvements. And while officials defend the need for revenue, gas station owners say the tax puts them and maybe the towns at a competitive disadvantage.  (go to article)

Los Angeles Times -- A combination of hot rocks and water like those that created Yellowstone's geysers have been tapped by the city to keep the sidewalks toasty since the early 1990s. They also heat downtown buildings, kettles at a brewhouse, and greenhouses and keep the lights on at a college campus.

With more than 600 geothermal wells heating houses, schools and a hospital as well as turning the turbine on a small power plant, Klamath Falls shows what everyday life could be if stimulus grants and venture capitalists turn geothermal energy from a Western curiosity to a game-changing energy resource.

A 2007 Massachusetts Institute of Technology report estimates that EGS, with support, could be producing 100 gigawatts of electricity -- equivalent to 1,000 coal-fired or nuclear power plants -- by 2050, and ha  (go to article)

FORBES.COM -- Hannah Elliott

By this time next year Chevrolet, Ford, Nissan and Fisker will each have a plug-in electric vehicle on the U.S. market. But until automakers can sell hundreds of thousands of them off the lot--not just to first-adopters and municipal fleets--they won't mean much to society. Experts say it'll take mass acceptance to significantly alter the way Americans consume energy.

Excerpts

The national average price of gas is $2.811, up from $2.608 last month and $1.933 a year ago. But forecasts from the U.S. Energy Information Administration predict that the annual average price for a gallon of regular gas will reach just $2.96 by 2011--granted, with a possibility of reaching $3 a gallon at times this summer.

That's good news compared to the $4-plus spikes of July 2008,but it mean  (go to article)

FORBES.COM -- Excerpts

It's an issue garnering much attention. The National Highway Traffic Safety Administration reports that 80% of all car crashes are due to driver inattention. Each year, 6,000 fatal crashes involve an inattentive driver--and cellphone use is the No. 1 culprit.

"Left unchecked, distracted driving caused by devices such as cellphones will rival drunk driving as a national vehicle safety problem," says Clarence Ditlow, the executive direct of the Center for Auto Safety, told the House Energy and Commerce Committee last fall.

Seven states have outright bans on using any handheld cellphone while driving (California, Connecticut, New Jersey, New York, Oregon, Utah and Washington), as do the District of Columbia and the U.S. Virgin Islands. Wireless headsets are banned for  (go to article)

FORBES.COM -- By Shawn McCarthy

WASHINGTON -- Transportation Secretary Ray LaHood says he'll go to Japan this summer for talks with Toyota executives about the sudden acceleration problem plaguing some Toyotas.

LaHood also says he'll examine Japan's high-speed rail system.

Excerpts

His department has defended its policing of the auto industry and noted it sent safety officials to Japan last year to urge Toyota ( TM - news - people ) to take safety concerns seriously.

Toyota's president was in Washington for recent congressional hearings and told LaHood that Toyota would "advance safety to the next level."

Toyota has recalled more than 8 million vehicles since last fall. It blames the problem on floor mats that trap gas pedals or on accelerators that become sticky.
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Animal New York -- Recently seen around Central Park: carriage shaped cars dragged along by clopping horses. For his piece “Back to Futurama,” artist Jeremy Dean gutted a gas-guzzling 8 mile-per-gallon HUMMER H2 and revamped it into a silver chrome, LED light-ridden, mega audio system decked “CEO Stagecoach” – a horse-drawn testament to the collapse of the auto-industry.  (go to article)

Reuters -- FRANKFURT, March 20 (Reuters) - German sports car maker Porsche sees potential for double-digit growth in Asia this year while growth in North America will take longer to return to pre-crisis levels, a magazine reported.

"In Asia I certainly see potential for slight double-digit growth," Porsche's marketing head Klaus Berning told trade magazine Automobilwoche in comments released from an interview to be published on Monday.  (go to article)

Reuters -- BOGOTA, March 20 - Colombian FARC guerrillas kidnapped five local oil contractors near a U.S.-operated oilfield, whisking them into a mountainous area close to Venezuela with troops in pursuit, officials said on Saturday.

The captive men were working for oil service companies Tuboscope and Tecnioriente, subcontracted by the local unit of U.S. company Occidental Petroleum (OXY.N), near the Caricare oilfield in Arauca state, a local army commander said.

A sixth worker managed to flee into bushes when rebels crashed their vehicle as army helicopters closed in on them.  (go to article)

Houston Chronicle -- BRETT CLANTON -- Becoming chairman of the Independent Petroleum Association of America, a Washington lobby representing more than 5,000 U.S. oil and gas producers, would be a big job at any time. Right now, however, it's huge. As producers exult in recent shale gas discoveries that could extend U.S. natural gas supplies for decades, they are facing policy and environmental challenges that could slow their momentum and cost jobs and investment, said Bruce Vincent, IPAA chairman since November and president of Houston-based Swift Energy Co. One meeting at a time, Vincent is focusing on giving policymakers a better understanding of the facts and what he calls the unintended consequences of certain policy moves.

[Follow link to article for the Q&A]  (go to article)

FORBES.COM -- By Jerry Flint

In the spring a young man's fancy lightly turns to thoughts to love--and cars.

It's true. Spring sales will tell us how strong our recovery grows. So far a major part of any recovery in American manufacturing has come from the auto industry: employment, hours worked, wages. Vehicle production has soared 75% from a year ago, not because sales have doubled, but because last year factories were shut in the first quarter to slash inventories.

As we push into the year, production will depend on sales gains. But look at all the questions:

Sales have been running ahead of last year, but just it's not that much of a gain. Will we see more strength this spring?

What about General Motors? Lots of impatience: Robert Lutz, the last Detroit hero, is going; heads chopped off at Cadil  (go to article)

Bloomberg.com -- Oil India Ltd. and Indian Oil Corp. jointly made the bid for Gulfsands Petroleum Plc that the U.K. company with assets in Syria and the Gulf of Mexico rejected yesterday, three people familiar with the matter said.

Excerpts

The Indian government is seeking to buy energy assets abroad to make up for declining production at home and to cater to an economy that is likely to grow more than 8 percent in the fiscal year starting April 1. State-run Oil & Natural Gas Corp. bought Imperial Energy Plc for 1.4 billion pounds last year in its largest acquisition.

"Gulfsands owns a 50 percent stake in a block in Syria...producing about 11,000 barrels a day of crude oil,...It also owns interests in 44 blocks, including 30 producing blocks, off the coast of Texas and Louisiana."  (go to article)

Physorg.com -- A successful University of Nevada, Reno renewable energy research project is moving from the lab to the real world in a demonstration-scale system to turn wastewater sludge into electricity.

The experimental carbon-neutral system will process 20 pounds of sludge per hour, drying it at modest temperatures into solid fuel that will be analyzed for its suitability to be used for fuel through gasification and, in a commercial operation, ultimately converted to electricity. The refrigerator-size demonstration unit will help researchers determine the optimum conditions for a commercial-sized operation.

"The beauty of this process is that it's designed to be all on site, saving trucking costs and disposal fees for the sludge," Victor Vasquez, a University faculty member in chemical engineering  (go to article)

WIRED.COM -- by Ariel Schwartz

Were you impressed by the recently unveiled Bloom Energy “micro power plant”? Well the stationary fuel cell already some competition in the form of a methanol fuel cell device from a California-based startup called Oorja Protonics. Oorja’s soon-to-be-unveiled device is much cheaper and can generate 5 kw of energy — enough to power a home or small business.

The small device isn’t quite as powerful as Bloom Energy’s fuel cell — 20 Oorja devices could provide the same power as a single Bloom Energy Server. But while Bloom’s device costs between $700,000 and $800,000, Oorja’s fuel cell will cost less than $15,000, making it much more accessible to the home market. Another advantage: Bloom’s fuel cell provides minimal heat, while Oorja’s device generates both heat and power.  (go to article)

WIRED.COM -- By Zach Rosenberg

Excerpts

As Congress starts hammering out a transportation spending bill, keep your eye on who asks for what and how the horses are traded.

Everyone recognizes something is wrong, and they all know the country’s infrastructure is literally falling apart. But the questions of what to fix and how to fix it are being framed in the familiar terms of urban vs. rural, individual liberties vs. collective benefit, fiscal restraint vs. profligate waste and the government’s role in all of this to begin with.

Earlier this week, the House Democratic leadership made the sudden-but-not-altogether-unexpected decision to ban earmarks to private corporations. The move, quickly followed by a Republican promise to abstain from any earmarks,is an attempt to regain  (go to article)

Bloomberg.com -- By Eduard Gismatullin

Royal Dutch Shell Plc, which plans to produce oil from Canada’s tar sands for 40 years, earned 67 percent more from operations in Alberta than from projects elsewhere between 2005 and 2009.

The company earned $20 a barrel from oil-sand mining on average, more than the $12 a barrel it gained from extraction projects excluding tar sands, The Hague-based Shell said a report posted this week on its Web site. Oil sands contributed $3.1 billion to Shell’s earnings in the period.

Excerpt

Shell, with partners Chevron Corp. and Marathon Oil Corp., is mining oil sands in the Canadian province of Alberta. The Athabasca Oil Sand Project plans to expand production capacity by about 65 percent to about 255,000 barrels a day this year or next year,  (go to article)

Bloomberg.com -- Gasoline futures slid 2 percent as a surging dollar reduced the investment appeal of commodities and as demand for the motor fuel declined.

Gasoline, which reached a 17-month high March 17, tumbled as the dollar gained 0.6 percent against the currencies of six major U.S. trading partners as of 3:25 p.m. in New York. Motor fuel demand slipped 1.6 percent last week, according to the Energy Department.

“A breakout to the upside of the dollar index gives potential for considerable downside for commodities,” said Tom Knight, vice president of trading and supply at Truman Arnold Cos. in Texarkana, Texas.

Gasoline for April delivery lost 4.53 cents, or 2 percent, to settle at $2.2556 a gallon on the New York Mercantile Exchange. Prices were little changed for the week.
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