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BP Commission Comments Carry Bad News For Houston Economy

Today’s New York Times article about the BP Deepwater Horizon accident and oil spill carries ominous news for the domestic offshore oil and gas industry and the Houston economy.  The mandate for the commission stated that its l

Cape Wind Battle Won: What About Wind Power War?

Secretary of the Interior Ken Salazar announced today that he is approving the 130-turbine Cape Wind project to be erected in a 24-square mile block of Nantucket Sound.  The nine-year saga for the nation's first offshore wind farm to win governmental approval to move forward with construction may be drawing to a close, but we doubt it. =>Continue Reading

Cape Wind Decision Due This Week: Likely Only First Step

Secretary of the Interior Ken Salazar is preparing to render his decision on the fate of Cape Wind, the 130 wind turbine project to be located in the heart of Nantucket Sound off Cape Wind.  The political heat on this decision is rising as the governors of six East Coast states have come out urging the project’s approval.  They believe that the rejection of Cape Wind on visual pollut

Europe Regulators Rant On Weather Models But Love Global Warming

Yesterday the venerable Financial Times editorialized about the failure of the International Civil Aviation Organization to use sound science and stronger computer models before banning the flying of airplanes in Europe due to ash from the Iceland volcano.  The editorial stated, "The blanket ban must be replaced urgently by more measured precautions, based on scientific knowledge of how much ash is actually in the atmosphere..."  It went on to say, "The wide-scale computer modelling used so far, based on satellite images, is not up to the job." =>Continue Reading

Rising Gasoline Prices A Harbinger Of Future Economic Problems?

This morning, Joe Petrowski, the CEO of Gulf Oil LP, an oil retail and distribution company with outlets located primarily throughout the Northeast, was on  CNBC discussing gasoline prices.  In response to questions from the talking heads, Joe made several points.  First, as gasoline pump prices rise toward $3 per gallon, drivers are beginning to cut back their purchases.  Mr.

Climate Gate Response Goes Beyond Reasonable

Recently the environmental group, Greenpeace, posted a blog from one of its senior members in India that went beyond the pale in arguing that the demise of the Copenhagen climate change conference requires that environmental activists now resort to civil disobedience.  In fact, the closing paragraphs of the blog even threatened climate change skeptics with a Mafia-type threat - we know who you are; we know where you live!  The outrage about this blog forced Greenpeace to remove it from its web site and issue a mea culpa.  The official retracting the blog issued an apolog

Questioned On Natural Gas Production And Consumption Claims

A reader of the Musings wrote me to say he enjoyed reading my newsletter but he took issue with certain statements I made about the natural gas market in the latest issue.  I wrote that "At the root of the gas price problem [low gas prices] is a lack of significant natural gas demand growth coupled with a very modest decline in gas production due to the drop in drilling during the first half of 2009."  The writer suggested that I obviously hadn't looked at the latest data from the EIA's natural gas monthly report.  He wrote that "claims that production declined

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