Oil prices will hit $300 a barrel in 10 years if the United States fails to reduce its dependence on foreign imports, billionaire oil investor T. Boone Pickens told U.S. lawmakers on Tuesday. Join discussion...

Investment in Australia's oil and gas industry could decline as companies that provide drilling, engineering and construction services reallocate their skills to work with national oil companies, a survey says. Join discussion...

This is a very interesting article. Goes to show how vulnerable the world economy is held hostage to oil. Join discussion...

Well, even if this is true, it will still take many years for the capital investments to turn this into an oil tap. Which by then could be too late. Join discussion...

Prime Minister Kevin Rudd has warned of the potential for the Varanus Island gas plant explosion to impact on the national economy. Join discussion...

Apparently $135 oil is all about "growing up". :-) ... Another interesting comment on US oil supplies; "By one count, America sits on enough oil and gas to meet its own needs for half a century. We won't help ourselves although our environmental delicacy somehow doesn't stop us from screaming at other countries to tear up their own pristine wildernesses to supply us with cheap energy. President Bush rushes to the Saudis, supplicating for more oil. Congress threatens OPEC with antitrust action. Go figure. That U.S. politicians can afford to indulge a persistent unreality about abasic input of industrial civilization only testifies to how responsive and resilient the global energy market has been despite the political silliness it meets at every turn." HOLMAN W. JENKINS, JR comments. Join discussion...

Storing excess wind energy as hydrogen sounds an exciting technology and hopefully is, but as this article points out with this one, there can be more than meets the eye. Join discussion...

One of our readers, Pete, gave us this news tip (in "Can rising oil prices undermine the benefits of globalisation?" @ http://cij.inspiriting.com/?p=465). This looks like an interesting technology for alternative energy- using sunlight to obtain hydrogen from water. The hydrogen can then be used as fuel. Since hydrogen is the most abundant element in the universe and its output after combustion is only water and it can be used in combustion engine, it may be a promising alternative energy technology. Join discussion...

For those who are thinking of investing in oil stocks... Join discussion...

Let's hope this promising start can turn into an enterprise that will make a difference. Join discussion...