Valero CEO Bill Kless spoke out against ethanol at a National Petrochemical and Refiners Association conference in San Diego. (Reuters) - Using corn to produce ethanol will make food so expensive in poor countries that it will cause more misery than global warming, the chief of the biggest U.S. refining company claimed this week. "Corn and ethanol production and the resulting high prices will impact the world in a much more acute negative way than greenhouse gas emissions and climate change... Read Full Story
Valero CEO Bill Kless spoke out against ethanol at a National Petrochemical and Refiners Association conference in San Diego. (Reuters) - Using corn to produce ethanol will make food so expensive in poor countries that it will cause more misery than global warming, the chief of the biggest U.S. refining company claimed this week. "Corn and ethanol production and the resulting high prices will impact the world in a much more acute negative way than greenhouse gas emissions and climate change... Read Full Story
With the recent rise of both crude oil and gasoline (petrol) prices, there has been an increasing amount of interest in how crude oil is used to make gasoline. In this article, I will explain the basic refining process and point you to other sources where you can find more detailed information on this topic.
Crude oil, otherwise known as petroleum, is a fossil fuel that is extracted from the ground and refined to make a wide variety of products ranging from liquids like cleaning solvents... Read Full Story
"Oil, Gasoline Tumble as World Bank Predicts a Deeper Recession" Crude oil fell more than $2 and gasoline tumbled after the World Bank said the global recession will be deeper than forecast, bolstering concern that fuel consumption will remain depressed. Oil dropped as much as 4.7 percent after the bank projected the global economy will contract 2.9 percent this year, more than its previously forecast decrease of 1.7 percent. Prices also declined as the dollar strengthened, reducing the... Read Full Story
Crude oil rose for the first time in three days in New York as a storm near Cuba prompted evacuations from rigs and production platforms in the Gulf of Mexico. Tropical Storm Fay, with maximum sustained winds of about 50 miles (80 kilometers) an hour, was centered 200 miles southeast of Havana, Cuba at 8 p.m. New York time and may strengthen to a hurricane before striking Florida's northwestern coast Aug. 19, the National Hurricane Center said. Gains were limited on speculation slowing U.S... Read Full Story
The world's first Floating Nuclear Power Plant will be commissioned in 2011 in Russia 's Arctic, the governor of the Arkhangelsk Region said Thursday. "The construction of the first such power unit with 70 MW capacity was started this year, and should be completed by 2010. The plant is most likely to operate in Severodvinsk in Russia's Arkhangelsk Region . Its launch is planned for 2011," Nikolai Kiselyov said. " A Floating Nuclear Power Plant is a new product on the global market, and I... Read Full Story
By the end of June the Ukraine Ministry of Fuel and Energy intends to complete talks on oil supplies to Europe by Odessa-Brody pipeline. After that the pipeline, which works in the reversed regime and pumps Russian oil to Odessa, will work directly.
According to head of Naftogaz Ukraini Olega...
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The Computer Man watches crude oil prices climbing and climbing from one record high to another on their way to well over $100.00 a barrel. Irrespective of where the crude oil prices end up, da computer man fears we will soon be paying a minimum of $5.00 a gallon for regular grade unleaded fuel at the pump. While some oil producers raise out put in an effort to help, others (enemies to the free world) promise to reduce production. The well to do travel the world in their SUV's and private... Read Full Story
LUKOIL chief Vagit Alekperov and vice president Leonid Fedun spent $1.6 billion to widen their stakes in the company. As a result, Vagit Alekperov currently owns 20.4 percent, nearly as much as LUKOIL biggest holder ConocoPhillips of the United States of America. Top managers bought out the stakes...
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In case you thought the whole reason for the drop in oil prices was either a drop in demand or a drop in speculation, This Week in Petroleum sheds some light on another cause:
Contrary to conventional wisdom about U.S. crude oil production, EIA?s November Short-Term Energy Outlook (STEO) predicts U.S. crude oil production will increase 8 percent from 2008 to 2009.
Demand does continue to lag, with total products supplied down 7% compared to the same 4-week period in 2007 and jet... Read Full Story
From Spain's Princess Letizia to Italy's Mara Carfagna, the game of politics is no stranger to beautiful, powerful women. Following is a list of women whose influence is matched only by their sheer hotness.
We've rounded up the fifty most infamous female teacher sex scandals the Internet has seen, and ranked them from most famous to least. We do it because we care.
