Energy Security News
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China is setting up emergency oil- storage facilities at Shanshan in western China, Jintan and Zhoushan in the east and Huizhou in the south, according to China Oil, Gas & Petrochemicals.
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The U.S. exported more gasoline, diesel and other fuels than it imported in 2011 for the first time since 1949, the Energy Department said.
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Heating oil fell as remarks by Federal Reserve Chairman Ben S. Bernanke gave no signal that the U.S. central bank would provide more monetary stimulus and on concern that fuel demand won’t improve.
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The United States desperately needs an energy policy. It is fundamental to our economic growth, environmental sustainability and national security. With five percent of the world's population and 20 percent of its energy use, the U.S. has an obligation to lead globally. We need to set the right example at home.
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Seventeen thousand and three. That’s how many coffee shops Starbucks operated as of October 2011, in 55 countries, from Argentina to Vietnam. To make those stores more sustainable, the company must manage everything from tropical agronomy to the recyclable fiber in each paper cup.
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The Energy Department plans to invest $14 million to make transportation fuels out of algae, according to the White House.
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Oil increased to a nine-month high after Greece won a second bailout and Iran said it stopped selling crude to France and Britain.
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Iran’s decision to halt sales of crude oil to French and British buyers to pre-empt a European Union ban on imports will have “no impact on Britain’s energy security or supplies,” said U.K. Foreign Secretary William Hague.
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Oil traded near the highest price in nine months in New York after euro-area finance ministers agreed on a second bailout for Greece.
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Saudi Arabia, OPEC’s largest crude producer, reduced oil output and exports in December from November when it produced the most in more than 30 years, according to the Joint Organization Data Initiative.
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