Ed Crooks The Source: US clean energy bill; a wheeze to help fuel-efficient cars; climate change in Saudi Arabia; the effect of oil wealth on Venezuela

On Energy Source:

The Waxman/Markey clean energy bill – the main points

Greenland is the new oil frontier, but costs and risks are high

BP is hit by legal action in Alaska, and fears over its growth outlook


The Waxman/Markey US CO2 emissions reduction bill is tougher than president Obama asked for (Huffington Post)

…and it leaves open crucial questions on exactly how consumer and energy-intensive industries would be compensated (WSJ)

Reactions to the bill compiled (Houston Chronicle)

…and more reactions (NY Times)

The Waxman/Markey “American Clean Energy and Security Act 2009″, in full

Good mining of the detail of the bill, focusing on issues such as renewable energy, carbon capture and storage, and emissions limits (Bit Tooth energy)

A US Congresswoman has an appealing idea to stimulate sales of fuel-efficient cars (NY Times)

..and Hummer dealers are on the ropes. Do not expect too many non-owners to mourn (NY Times)

UK and Iceland on collision course over the mineral rights around Rockall (The Guardian)

Climate change is an issue for Saudi Arabia, too (The National)

The first LNG cargo from Sakhalin 2 to Tokyo is arriving later than expected. Japan is just not that desperate for the gas (Platts)

Exxon looks to drill in its own backyard: the Gulf of Mexico. Part of a trend of IOCs favouring production in OECD countries, after getting badly burned in emerging economies (for Exxon, Venezuela hurts, and Russia is still a problem) (Rigzone)

Adnoc and ConocoPhillips will soon be seeking contractors for the $10bn Shah sour gas project in Abu Dhabi (Bloomberg)

Nine NOCs and smaller oil companies have been approved as potential bidders for contracts in Iraq, alongside the 35 larger companies already approved. Cairn Energy is the sole European or US company among the nine. (Platts)

Oil corrupts, says a Venezuelan, with feeling. “To the long list of reasons to take decisive action to curb your countries’ demand for petroleum, do add this one: to protect producing countries from the depredations of their own state elites.” (The Guardian)

And a 13 year-old electric Citroen is still a “great little car” (The Oil Drum)