Ed Crooks The Source: Oil and climate change; crude inventories; Brazil’s oil tax plans; Iraq, and powering cars on plastic cups

On Energy Source today:

Australia’s emissions trading scheme is delayed

More on Australia’s climate change policy

Wind power to gain from Obama’s green stimulus, says KPMG

Carbon offsetting craziness


Why peak oil would not necessarily help with climate change. Higher unconventionals production makes emissions worse (The Oil Drum)

However, oil producing countries are likely to be some of the biggest losers from international agreements to control greenhouse gas emissions and fight climate change (The National)

Crude oil stocks put strain on storage capacity. Goldman Sachs estimates global oil storage could be full to capacity by June (Daily Telegraph)

But still, Angola wants to pump more crude oil (The National)

Brazil’s president urges changes to the country’s oil laws. As the giant Tupi field produces its first oil, ata relatively modest rate for the time being, president Lula says new rules to give the country a greater share of the earnings from its oil wealth would be “a second independence for Brazil” (Upstream Online)

Iraqi oil is a black hole, not black gold (Seeking Alpha)

The Offshore Technology Conference in Houston is still atracting interest, if perhaps less than last year. And Jose Gabrielli of Petrobras is reportedly staying away because of concerns about swine flu (The Houston Chronicle)

And finally, a new fuel source has been discovered: the syrofoam cup (New Scientist)