Another two billion trips

Massive waves of humanity were travelling on Friday for the Chinese New Year holiday - an annual movement of hundreds of millions of people that's much larger than the migration inspired by the Muslim hajj. China's government said it expects people will take a total of two billion journeys - including plane, train, ship and automobile trips - during the 40 days around the holiday. To avoid the travel crunch, millions of people - mostly migrant workers - began heading home weeks ago.

In Taiwan, another mass migration was kicking off on the island of 23 million people. About 7.5-million Taiwanese - or nearly one-third of the island's population - are travelling home or going on holiday in the next few days, officials said. "The spring festival is one of the most important festivals of the year, and everyone wants to get home for family reunion as early as possible," said Transport Minister Kuo Yao-chi.

Highways are expected to be so crowded that only cars taking at least three passengers will be allowed. Mobile toilets have been installed along the way for travellers caught in the snarled traffic. Taking a bathroom break on cramped trains in mainland China can also be difficult. Some savvy travellers are packing adult diapers to avoid queuing outside the often stinking toilets. Diaper sales have been soaring at supermarkets, Chinese media reported this week.

(2006-01-29 13:29:08 SGT) [Energy] Permalink

Losses spiral at United Airlines

peakoil.com -> news.bbc.co.uk :

United Airlines' parent company made a $21 billion loss last year due to charges arising from its bankruptcy. It suffered pre-tax losses of $16.6 billion alone in the last quarter after it recognized many unsecured claims. United was one of several US carriers to seek bankruptcy protection due to soaring costs and flagging demand.

UAL Corp is due to emerge from Chapter 11 bankruptcy next month after three years of restructuring. It has cut its workforce by a quarter and secured huge pay concessions from pilots and other staff. It is radically restructuring its business in an effort to reduce annual costs by $7 billion by 2010. CEO Glenn Tilton admitted the company must do more to reduce costs and boost revenues. He also warned that fuel costs would be $885 million higher in the current year than previously thought.

Google Base:
american airlines

(2006-01-29 13:13:44 SGT) [Biz] Permalink

Booming nations 'threaten Earth'

peakoil.com -> news.bbc.co.uk :

Earth lacks the water, energy and agricultural land to allow China and India to attain Western living standards, a US think-tank has warned. The Worldwatch Institute said the booming economies of China and India are "planetary powers that are shaping the global biosphere". Its State of the World 2006 report said the two countries' high economic growth hid a reality of severe pollution. It said the planet's resources could not keep pace with such growth.

"The world's ecological capacity is simply insufficient to satisfy the ambitions of China, India, Japan, Europe and the United States as well as the aspirations of the rest of the world in a sustainable way," the report added. It said that if China and India were to consume as much resources per capita as Japan in 2030 "together they would require a full planet Earth to meet their needs", it said.

(2006-01-29 13:07:57 SGT) [Env] Permalink

The 4 biggest oil fields in the world are in decline

peakoil.com -> dailykos.com :

The 4 biggest fields on the planet are now in decline, 3 officially. No super giant fields have been found in the past 25 years, and all the rock structures on the planet where such fields could be found are known.

We will not find more oil. We will squeeze more out of the existing fields, thus generating new "reserves" (in their economic definition), but we are already running out of the cheap and easy to produce stuff. Peak oil is very real.

(2006-01-29 09:26:58 SGT) [Energy] Permalink

UK oil production continues to decline

peakoil.com -> irna.ir :

British oil production continues to highlight the increasing maturity and depletion of North Sea fields in its sector by maintaining its rapid decline, according to the Royal Bank of Scotland. In its latest monthly index, the bank reported that the combined daily average output for oil and gas production in November was down 7 percent on the month and 14 percent compared with a year ago.

Oil production decreased by 125,000 barrel per day (bpd) to 1.5 million bpd compared with October and by 238,000 bpd compared with November 2004. The UK production of gas, which is also in decline, recorded similar falls of 7 percent on the month and 14 percent on the year. Oil and gas production from the North Sea has been in decline since 1999.

(2006-01-29 09:18:13 SGT) [Energy] Permalink

Branson fears oil will cause biggest recession

peakoil.com -> business.timesonline.co.uk :

Sir Richard Branson, the billionaire entrepreneur, has warned that any conflict with Iran could push oil prices over $100 a barrel and trigger "the biggest recession we have ever seen". Iran is the world's fourth-largest oil producer. International concerns over the country's nuclear developments have risen in the past month, but Sir Richard warned that any military intervention in the region would prove "disastrous" for the world economy.

Sir Richard called for urgent investment in alternative energy sources to replace the rapidly dwindling stocks of fossil fuels such as crude oil. Sir Richard was also critical of the efforts of the major oil companies, which over the past year have booked record profits on the back of record-high oil prices. He said they had so far "only dabbled" in exploring green energy sources.

Sir Richard's Virgin Group is spending around $600 million to $700 million more on fuel costs than it did three years ago. "That focuses the mind somewhat," Sir Richard said. There is a suggestion that the Virgin entrepreneur is even considering investing in his own oil refinery to service his various transport businesses. Virgin Fuel, part of Sir Richard's Virgin Group, which also spans fuel-intensive businesses such as air travel and trains, has invested in the development of "clean" ethanol-based fuels. "We all have a responsibility. Companies need to look at investing in cleaner energy sources. Individuals need to think about double-glazing and hybrid cars," he said.

(2006-01-29 09:08:45 SGT) [Energy] Permalink

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