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In the U.S. a problem could be shaping up around the size of the US corn planting this spring. The problem is that soybeans are commanding historic high prices at more than $13 a bushel (compared with $5.50 a bushel for corn) and are much cheaper to produce. Observers say all signs point to a sharp decline in U.S. corn planting this spring which could spell a significant tightening of supplies impacting everyone from consumers to cattle feeders to ethanol producers.

5. Energy Briefs

(clips from recent Peak Oil News dailies are indicated by date and item #)

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Russian oil output may fall this year for the first time in a decade as the country struggles with rising costs and harder-to-reach fields, according to Natural Resources Minister Trutnev. A decline would end a 10-year, 58 percent surge in production. Trutnev's outlook contradicts that of the Energy Ministry, which expects an increase of 1.8 percent to 10 million barrels a day of crude and gas condensate. (3/29, #16)

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Russia may cut the tax on oil extraction by $4.2 billion a year, the finance minister said. The reduction, which may start next year, is to spur investment and revive output (3/25, #18)

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In South Africa, power supplier Eskom plans "pre-emptive" load shedding for 2.5-hour durations every second day for the next three months. The load shedding is needed to stabilize the country's electricity grid, run and maintain its power plants, and build its coal stockpile reserves. The load shedding will go on until the end of June, when a power-conservation program is to be tabled by the government. (3/28, #8)

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The likelihood of massive worldwide crude oil shortages in the next few decades may mean that South Africans will have to develop alternatives. This was the warning sounded by the Dept. of Minerals and Energy on Tuesday on the "immediate" need to put in place legislation to regulate the generation of alternative and renewable forms of energy. (3/26, #6)

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