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Obama’s Offshore Energy Policy Could Rescue Oil And Gas Explorers

Posted on 29 July 2014 by VRS  |  Email |Print

Has the BP Deepwater Horizon disaster run its course? The Obama administration may think so, having shifted gears in recent weeks and removed potential barriers to more drilling off the coast of the Atlantic Ocean. This is in addition to earlier moves that eased the steps for developers to pursue oil and gas deposits in the Gulf of Mexico and possibly off the coast of Alaska.
For a White House that has targeted oil company tax breaks and toughened drilling safeguards in the wake of the BP disaster, it’s a change of pace. But it is actually part of an previous plan — an Energy Security Trust Fund — to redirect some of those oil and gas revenues toward green energy ventures. That’s an idea that has resonance among key lawmakers on energy panels from oil and gas states………………………………………..Full Article: Source

Fracking: British government opens the way for energy firms to explore for shale gas

Posted on 29 July 2014 by VRS  |  Email |Print

Energy firms will be able to bid for licenses Monday to explore for shale gas in Britain, three years after the controversial fracking process caused seismic tremors which led the government to suspend operations.
Business and Energy Minister Matthew Hancock said shale gas has the potential to increase the country’s energy supply but stressed national parks will be protected. “Done right, speeding up shale will mean more jobs and opportunities for people and help ensure long-term economic and energy security for our country,” he said………………………………………..Full Article: Source

U.K. Opens Bidding for New Round of Shale Gas Exploration

Posted on 28 July 2014 by VRS  |  Email |Print

The U.K. will begin the bidding process today for the next set of onshore oil and gas exploration licenses, including shale gas, which is considered a cheaper and more secure energy source.
Details will be set out by the Department of Energy and Climate Change. About half the U.K. will be open for bids, yet the areas considered to be shale gas prospects are smaller, and are already around half-covered by licenses………………………………………..Full Article: Source

Will the U.S. Oil Boom Make Energy Sanctions Easier?

Posted on 25 July 2014 by VRS  |  Email |Print

Ask someone to identify a big geopolitical consequence of the ongoing U.S. oil production boom and odds are high that they’ll invoke Iran. (Every one of the links in that last sentence is an example.) Without surging U.S. oil production, they’ll argue, sanctions on Iranian oil exports would have led to a massive oil price spike. Here is a concrete case of the oil boom yielding greater U.S. freedom of action in the world, and a harbinger, it would seem, of things to come.
The historical account seems right, but it’s tough to see how the Iran experience might be repeated. The upshot is that the lessons for future U.S. freedom of action – and for geopolitics more generally – are being badly over-read………………………………………..Full Article: Source

IEA: $80 Billion In Power Wasted By Connected ‘Things’

Posted on 25 July 2014 by VRS  |  Email |Print

Once upon a time, you used to hear a lot about the “vampire power” load that televisions, monitors, desktops and other electronics equipment consume while in standby mode. Apparently, we’ve been overlooking “network-connected” things such as set-top boxes, gaming consoles, modems and printers but we shouldn’t, according to a new report by the International Energy Agency (IEA).
That’s because these sorts of technologies are already consuming about 400 terawatt-hours (TWh) of electricity in standby mode alone – the amount of power used by both the United Kingdom and Norway, combined………………………………………..Full Article: Source

Energy supplier to the world

Posted on 25 July 2014 by VRS  |  Email |Print

Traders booked the most tankers in eight months to ship diesel and heating oil to Europe from the U.S. Gulf, where refining is surging as a consequence of America’s rising crude production.
Oil companies either booked or plan to charter 16 tankers to transport cargoes on the route for loading during the next two weeks, according to the survey of six people involved in the trade yesterday. That compares with nine last week and is the highest count since Nov. 6………………………………………..Full Article: Source

Is it time to take a look at the coal-mining businesses?

Posted on 21 July 2014 by VRS  |  Email |Print

Heightened global tensions sent the spot price of gold up nearly US$20 overnight on Thursday to around US$1319 per ounce. On the local bourse gold mining stocks including Newcrest Mining Ltd and Northern Star Resources Ltd were both up around 3% on Friday in response to the tensions and higher gold price; in contrast the S&P/ASX 200 Index traded lower.
The bounce in volatility is a stark reminder to investors that many stocks are now priced for perfection; this leaves them vulnerable to swift declines. At the same time, major economies such as China and the USA continue to report solid growth rates………………………………………..Full Article: Source

Oil and natural gas resource categories reflect varying degrees of certainty

Posted on 18 July 2014 by VRS  |  Email |Print

The Energy Information Administration (EIA) has explained that crude oil and natural gas resources are the estimated oil and natural gas volumes that might be produced at some time in the future. The volumes of oil and natural gas that will ultimately be produced cannot be know ahead of time. Resource estimates change as extraction technologies improve, markets evolve and oil and natural gas are produced.
According to the EIA, the uncertainty in estimated volumes declines across the resource categories based on the relative mix of facts and assumptions used to create the estimates. Oil and gas in-place estimates are based on fewer facts and more assumptions, while proved reserves are based mostly on facts and fewer assumptions………………………………………..Full Article: Source

IEA Begs for “All of the Above” Strategy

Posted on 18 July 2014 by VRS  |  Email |Print

While the President of the United States calls for an ‘all of the above’ energy policy, the Environmental Protection Agency’s rules appear to suggest that coal isn’t invited. However, International Energy Agency (IEA) chief Maria van der Hoeven says that every fuel option is important.
Can’t do it alone: Speaking at an energy conference, van der Hoeven explained that, “You don’t want too many eggs in one basket … Coal, nuclear and wind are all essential for keeping the lights on.” While that statement is very specific, the intent is broader. She is explaining that every energy option needs to be on the table………………………………………..Full Article: Source

IEA Chief: U.S. Energy Security “Golden Age” Is an Illusion

Posted on 17 July 2014 by VRS  |  Email |Print

Optimism about U.S. energy security, which is rooted in the abundant supply of fossil fuels alone, is misplaced, Maria van der Hoeven, head of the International Energy Agency (IEA) said.
The U.S. has seen a dramatic reversal in its energy fortunes over the past seven years that has sent imports falling, product exports surging, and a boom in natural gas production—”so much so that it is muscling out other sources of power,” the IEA’s executive director said in a keynote address at the 2014 Energy Information Administration’s (EIA) Energy Conference………………………………………..Full Article: Source

IEA warns U.S. on energy security

Posted on 16 July 2014 by VRS  |  Email |Print

Energy security is more about diversity than abundance in any one particular resource, the head of the IEA warned the United States.
International Energy Agency Executive Director Marian van der Hoeven told delegates gathered in Washington for the annual conference of the Energy Information Administration there may be trouble on the horizon for the United States. “Energy security is about much more than supply, and it’s about more than the here and now,” she warned………………………………………..Full Article: Source

Natural-Gas Prices Drop on Greater-Than-Expected Surplus

Posted on 11 July 2014 by VRS  |  Email |Print

Energy prices are tumbling, a setback for investors who were betting that supply shortfalls would drive markets higher. Natural-gas futures hit a six-month low on Thursday. U.S. oil futures ended slightly higher, snapping a nine-session losing streak, the longest since December 2009.
It is a sharp turnaround for both markets, where investors until recently were overwhelmingly bullish, and a welcome relief for consumers, who had watched gasoline climb steadily for much of this year………………………………………..Full Article: Source

LNG market grows at 2.8% CAGR, to reach US$196.4 mn by 2019

Posted on 10 July 2014 by VRS  |  Email |Print

Liquefied Natural Gas market is growing at a compounded annual growth rate (CAGR) of 2.8% from 2013 and will extend up to 2019 when total market value will rise to US$196.4 mn from $161.4 mn in 2012, according to a new report titled “Liquefied Naturla Gas Market: Global Industry Analysis, size, share, growth, trends and forecast, 2013-19.
Key end-user segments analyzed in the study include industrial sector, electric power and other segments such as transportation and commercial. In terms of volume, industrial sector was the largest segment, accounting for around 43.0% of the total market share in 2012. Industries such as fertilizers and petrochemicals are major consumers of LNG as large share of LNG is consumed by these sectors………………………………………..Full Article: Source

EU energy market: Pipe dream

Posted on 10 July 2014 by VRS  |  Email |Print

Poland’s prime minister, Donald Tusk, has a battle on his hands. In April he proposed a European energy union to address one of the most glaring strategic weaknesses of a continent that imports more than half its energy. He will need all his reserves to achieve the goal.
His initial timing was perfect for political and economic reasons alike: the crisis in Ukraine and the shale boom in the US are forcing EU countries to assess the inefficiencies of their fragmented energy networks as never before………………………………………..Full Article: Source

Electronic Devices Waste $80 Billion of Power a Year, IEA Says

Posted on 03 July 2014 by VRS  |  Email |Print

The world’s 14 billion television set-top boxes, printers, game consoles and other electronic devices waste $80 billion of power a year due to inefficient technology, according to the International Energy Agency.
“Electricity demand of our increasingly digital economies is growing at an alarming rate,” the Paris-based adviser to developed nations said today in a report. By 2020, an estimated $120 billion will be wasted as many devices use about the same amount of power even on standby………………………………………..Full Article: Source

Commodities: Europe will suffer if we hinder the flow of energy price information

Posted on 23 June 2014 by VRS  |  Email |Print

Energy security is once again high on the political agenda. The recent events in Iraq and Eastern Europe force us to think about how we obtain the commodities that light our homes, keep us warm and fuel our transport.
European energy policy is struggling to reconcile conflicting objectives — cheaper energy, more infrastructure investment, lower carbon emissions. Into that tangle, we can add the prediction of the International Energy Agency that the European Union’s dependency on energy imports will increase from 60pc to 80pc by 2035………………………………………..Full Article: Source

Europe on track for 2020 energy efficiency goal -report

Posted on 20 June 2014 by VRS  |  Email |Print

The European Union is almost on track to reach its goal of improving energy savings by a fifth by 2020 and may consider a significantly higher target for the next decade, according to a draft European Commission document seen by Reuters.
Energy efficiency has risen up the agenda in Europe as member states seek ways to reduce dependency on imported fossil fuels in the context of the Russia-Ukraine crisis, which has led to the cut-off of Russian gas to Ukraine………………………………………..Full Article: Source

Low volatility is translating into less liquid energy commodity markets

Posted on 11 June 2014 by VRS  |  Email |Print

There has been considerable discussion of late about the lack of volatility in some key trading markets, and the impact that is having on trading groups, their profitability, and thus their interest in remaining engaged in certain markets.
The argument has been that low or relatively flat prices have driven some key trading firms — a fair number of which are big banks — from a number of commodity markets, including energy commodities. Some believe the liquidity of some of these markets has taken a hit as counterparties have left, both because of reduced profitability but also as a result of regulatory pressures………………………………………..Full Article: Source

Global natural gas faces challenges from coal, pricing difficulties: IEA

Posted on 11 June 2014 by VRS  |  Email |Print

Despite its many advantages, natural gas is losing ground globally to its rivals while buyers and sellers struggle to agree on what constitutes a fair price, the International Energy Agency said in a report published Tuesday.
In its annual Medium-Term Gas Market Report, it said global gas demand grew less last year than did demand for competing fuels: estimated at 3.49 trillion cubic meters, it was up just 1.2% from 2012, while oil demand rose 1.4%, coal was up 3-4% and renewables were up more than 4%………………………………………..Full Article: Source

IEA outlook: ‘Golden Age’ of gas to extend to China

Posted on 11 June 2014 by VRS  |  Email |Print

The “Golden Age” of natural gas that has taken such a strong foothold in North America will extend to China over the next 5 years, driven by booming demand, according to the latest 5-year gas market outlook from the Paris-based International Energy Agency.
In its Medium-Term Gas Market Report 2014, IEA noted that a near-doubling of Chinese gas demand by 2019 will offset a slowdown in demand in other regions. The annual report sees global demand rising 2.2%/year by the end of the forecast period compared with the 2.4%/year rate projected in last year’s outlook………………………………………..Full Article: Source

IEA Investment Report: What is Right; What is Wrong

Posted on 11 June 2014 by VRS  |  Email |Print

Recently, the IEA published a “Special Report” called World Energy Investment Outlook. Lets’s start with things I agree with: 1. World needs $48 trillion in investment to meet its energy needs to 2035. This is certainly true, if we assume, as the IEA assumes, that world economic growth will actually improve a bit, from 3.3% per year in the 1990 to 2011 period to 3.6% per year in the 2011 to 2035 period. It is likely that the growth in investment needs will be even higher than the IEA indicates.
In my view, this is a CYA report. The IEA sees trouble ahead. There is no way that investment of the needed amount (which is likely far more than $48 trillion) can be met. With the publication of this report, the IEA can say, “We told you so. You didn’t invest enough. That is why energy supply ran into huge problems.”……………………………………….Full Article: Source

IEA warns of looming energy investment shortfall

Posted on 06 June 2014 by VRS  |  Email |Print

A looming energy investment shortfall risks derailing carbon-reduction targets the International Energy Agency (IEA) has warned. In a new report, World Energy Investment Outlook, the IEA said that to meet global energy demand, around $40 trillion will need to be invested by 2035, while a further $8 trillion will need to be spent on energy efficiency.
“The reliability and sustainability of our future energy system depends on investment,” IEA executive director Maria van der Hoeven said. “There is a real risk of shortfalls, with knock-on effects on regional or global energy security, as well as the risk that investments are misdirected because environmental impacts are not properly reflected in prices.”……………………………………….Full Article: Source

Unconventional Energy Can Change Global Geopolitical Balance

Posted on 06 June 2014 by VRS  |  Email |Print

A new paper led by the Smith School for Enterprise and the Environment at the University of Oxford examines the environmental, economic and political implications of unconventional fuel sources like shale gas and tight oil.
It suggests that these novel resources could be a “blessing for the global economy,” but also that the implications go far beyond the economic dimension—redrawing the global map in terms of trade balances, economic competitiveness and, most importantly, the geopolitical balance………………………………………..Full Article: Source

Europe at risk of blackouts, warns IEA

Posted on 04 June 2014 by VRS  |  Email |Print

International Energy Agency warns that the EU will lose a quarter of its electricity over the next decade as old power stations are shut down. Europe is at serious risk of power blackouts and may lose control of energy security without a radical overhaul of its shambolic policies, the world’s top energy watchdog has warned.
“In Europe we are facing the risk of the lights going off. This is not a joke,” said Fatih Birol, the International Energy Agency’s chief economist………………………………………..Full Article: Source

World not moving fast enough on renewable energy, says IEA

Posted on 04 June 2014 by VRS  |  Email |Print

Energy supply investement at $1.6trn annually but needs to rise to $2trn to stop dangerous global warming, energy thinktank finds. The world is not moving fast enough on investment in low carbon energy to tackle climate change, new research from the International Energy Agency has found.
About $1.6 trillion is invested annually in the global energy supply, but while that represents a doubling of investment since the turn of the century, the amount needs to rise to $2 trillion if the world is to limit global warming to no more than 2C of temperature rises, the energy thinktank said………………………………………..Full Article: Source

$48 trillion needed by 2035 to meet global energy needs: IEA

Posted on 03 June 2014 by VRS  |  Email |Print

More than $48 trillion must be invested by 2035 to meet global energy needs as current technologies go offline and demand rises in emerging nations, the International Energy Agency (IEA) said in a report launched in London on Tuesday.
The special report warns that the expansion of the global gas market, thanks largely to the improvements in unconventional extraction methods, will not reduce prices significantly due to high transportation and infrastructure costs………………………………………..Full Article: Source

IEA Expects World to Rely More on Middle East Oil

Posted on 03 June 2014 by VRS  |  Email |Print

A top energy watchdog said the world will need more Middle Eastern oil in the next decade, as the current U.S. boom wanes. But the International Energy Agency warned that Persian Gulf producers may still fail to fill the gap, risking higher oil prices.
In its first update to the agency’s energy investment outlook in more than a decade, the IEA—which represents some of the world’s largest consumer nations—said it sees “growth in oil demand [becoming] steadily more reliant on investment in the Middle East.”……………………………………….Full Article: Source

Ukraine: The real energy crisis starts in June

Posted on 30 May 2014 by VRS  |  Email |Print

On June 3, Russia plans to reduce the gas supply to Ukraine — and hence, to Europe — if Kiev has failed to pay in advance for next month’s gas deliveries, the price for which has been doubled as a result of the political crisis.
Interim Ukrainian Prime Minister Arseniy Yatsenyuk is trying to play hardball with Moscow, suggesting gas talks cannot move forward until Russia addresses the issue of the $1 billion in gas it stole when it annexed Crimea………………………………………..Full Article: Source

EU lays out energy plan, to reduce Russia dependence

Posted on 29 May 2014 by VRS  |  Email |Print

The European Commission laid out plans Wednesday to cut the EU’s costly reliance on energy imports, especially from Russia which has threatened to halt gas supplies to Ukraine, a key transit point for Europe.
A report prepared for European Union leaders recommended a broad series of measures to promote indigenous sources, including renewables and nuclear energy, and to make progress on a single energy market………………………………………..Full Article: Source

The coal industry and Asia in 2014

Posted on 29 May 2014 by VRS  |  Email |Print

New regulations and policy initiatives in China in 2014 can be expected to reflect the priorities set in China’s 12th Five-Year Plan, including “higher quality growth”, which includes a stronger focus on environmental protection, climate, and energy efficiency. However, despite stricter environmental standards, China’s coal demand is expected to increase by almost 20% over the next five years.
By the end of 2014, China is expected to finalise all of the seven pilot emission trading schemes it announced in 2011. Once finalised, China’s emissions trading schemes will cover about 7% of the country’s total greenhouse gas emissions in Shenzhen, Beijing, Shanghai, Tianjin and Chongqing, as well as in the Guangdong and Hubei Provinces………………………………………..Full Article: Source

Update On The Coal Sector

Posted on 29 May 2014 by VRS  |  Email |Print

We always try to keep an open mind to various types of investments; be they a type of technology, a certain company or a specific industry. Even when we form an opinion on an industry that is working, we constantly research to see whether we need to adjust our position to the opposite of where we are or move to a neutral posturing.
With that said, we have come across an interesting report on the coal sector, and we wanted to highlight that today based on the fact that we recently discussed the coal names mentioned in this report………………………………………..Full Article: Source

Europe’s energy policy: Just say no

Posted on 28 May 2014 by VRS  |  Email |Print

The EU’s energy policy is incoherent to the point of non-existence - but Russia knows exactly what it is doing. Europe has an energy policy - just say ‘no’. Germany’s Chancellor Merkel says nein to nuclear power. France’s President Hollande says non to shale gas.
Britain’s Prime Minister Cameron says no to wind power unless it is a few kilometres out to sea. Poland’s Prime Minister Tusk says nie to any limit on burning brown coal – lignite – the most polluting of any fossil fuel………………………………………..Full Article: Source

3 Reasons Putin’s Nat Gas Deal Is A Big Deal

Posted on 26 May 2014 by VRS  |  Email |Print

It’s not just because it took 10 years to negotiate with China or is worth $400 billion, but the new deal Gazprom signed to supply 38 billion cubic meters (bcm), which is about the amount NY state uses annually, of natural gas to China each year for the next 30 years may be a major game changer for 3 big reasons.
The first big reason is that this deal may reduce air pollution in China. That may not only clean the air for breathing but may reduce the erratic weather causing global warming that is spiking agriculture prices and now possibly food prices………………………………………..Full Article: Source

Czechs oppose single EU body for gas, oil purchases

Posted on 22 May 2014 by VRS  |  Email |Print

The Czech Republic opposes a Polish proposal to create a single body to buy gas for the European Union but could support private groups voluntarily joining up for purchases, according to a position document approved by the government on Wednesday.
Central European countries are vulnerable to any interruption in supplies because they take most of their natural gas from Russia, mainly via Ukraine. Polish Prime Minister Donald Tusk has called for the EU to create an energy union because the current dependence on Russian energy makes Europe weak………………………………………Full Article: Source

Energy sanctions aim to hurt Russia more than the west

Posted on 15 May 2014 by VRS  |  Email |Print

As the US looks for levers to exert influence over Russia, energy is an obvious choice. Oil and gas generate more than 50 per cent of Russian federal government revenues, and Rosneft and Gazprom, the country’s two largest energy companies, are both state controlled.
The problem is that energy binds Russia to the rest of the world in a codependent relationship. Consumers – especially in Europe – need Russian oil and gas as much as Russia needs the revenue they bring in………………………………………..Full Article: Source

The World Needs More Clean Coal, or We’re Screwed

Posted on 14 May 2014 by VRS  |  Email |Print

Environmentalists have celebrated the rapid growth of renewable power. But a new International Energy Agency report makes clear that coal is still a major, and growing source of electricity. Unless we spend more time developing carbon-free coal technologies, there’s little hope of holding back global temperature increases
The growth of renewable energy has gotten a lot of attention recently — and with good reason. Buoyed by falling costs, wind and solar PV electricity generation has experienced double-digit growth globally in recent years. In the U.S. alone, demand for solar power increased by 41% in 2013………………………………………..Full Article: Source

IEA says extra $44 tn needed for clean energy future

Posted on 13 May 2014 by VRS  |  Email |Print

The global cost of securing a clean energy future is rising by the year, the International Energy Agency (IEA) warned Monday, estimating that an additional $44 trillion of investment was needed to meet 2050 carbon reduction targets. Releasing its biennial “Energy Technology Perspectives” report in Seoul, the agency said electricity would increasingly power the world’s economies in the decades to come, rivalling oil as the dominant energy carrier.
Surging electricity demand posed serious challenges, said IEA executive director Maria van der Hoeven. “We must get it right, but we’re on the wrong path at the moment,” Van der Hoeven told reporters in the South Korean capital………………………………………..Full Article: Source

IEA: Coal use is spiking climate mitigation costs

Posted on 13 May 2014 by VRS  |  Email |Print

The global cost of pegging global warming to 2 degrees Celsius has risen by $8 trillion in the last two years, due to soaring coal use which has eclipsed the roll-out of renewable energies, according to a new International Energy Agency (IEA) report released on 12 May.
A top IEA official told EurActiv that there should be a halt to the commissioning of sub-critical coal plants with no potential for retroactive fitting of carbon, capture and storage technology (CCS) that may one day pipe CO2 emissions for storage in geological formations………………………………………..Full Article: Source

IEA terms India’s plan to become energy independent as ambitious

Posted on 12 May 2014 by VRS  |  Email |Print

The International Energy Agency (IEA) has termed India’s plan to become energy independent by 2030 as a “very ambitious” and an “idealistic challenge”. This comes in the backdrop of oil minister M. Veerappa Moily’s plan of achieving the target by 2030, even as India, the world’s fourth largest energy-consuming nation, imports 80% of its crude oil and 25% of its natural gas requirements.
“Where 300 million Indians are lacking access to electricity and where per-capita electricity consumption is one-fourth of the world’s average, this is a very, very ambitious and huge challenge. It is not easy………………………………………..Full Article: Source

Fracking: EU red tape threat to energy boom

Posted on 05 May 2014 by VRS  |  Email |Print

Britain will be told to get fracking faster for shale gas when the House of Lords economy committee publishes its report this week. Britain’s fracking industry is being held back by environmental regulations drawn up in Brussels, a senior committee of the House of Lords is expected to say this week.
In a major report, the Lords are expected to call for permits to be granted more quickly to drilling companies to allow them to test the potential of newly drilled shale gas wells………………………………………..Full Article: Source

German energy: Unsustainable eco-suicide

Posted on 05 May 2014 by VRS  |  Email |Print

The renewable energy bandwagon looks increasingly likely to deliver the German economy all the way back to the dark ages. Amongst the more ludicrous acts of lazy journalism political pundits practice, is the conceit that Angela Merkel is somehow akin to Margaret Thatcher.
Aside from being women, it is challenging to compare the Iron Lady with the dismally spineless stasis monger of Berlin. Whereas Thatcher combined vision, strategy and a strong belief, Merkel bends with the wind - or even without it. Thus her energy policy has become such a fiasco as to risk undermining the entire German economy………………………………………..Full Article: Source

Asian coal demand is set for robust revival, study says Add to …

Posted on 05 May 2014 by VRS  |  Email |Print

Global coal markets are depressed amid a supply glut, but reports of the commodity’s demise have been greatly exaggerated, a new study says.
Prices for thermal coal, a commodity used by power plants to generate electricity, fell recently to less than $75 (U.S.) a tonne, compared with $190 in mid-2008. And prices for metallurgical (or coking) coal, a key ingredient used in the production of steel, have tumbled to $120 a tonne, from $300 in late 2011………………………………………..Full Article: Source

Secretive Swiss commodities giants are buying big chunks of US energy

Posted on 02 May 2014 by VRS  |  Email |Print

Some of the world’s biggest commodities traders are buying up key pieces of the infrastructure that’s driving the US energy production boom. Secretive commodities investors like Vitol Group, Trafigura Beheer B.V. and Mercuria Energy Group are among the firms amassing physical assets like shale oil wells, oil and gas pipelines and offshore drilling projects in the US, Bloomberg reports.
Why? The controversial fracking boom, which has driven US energy production sharply higher in recent years. Commodities firms want to get a piece of that production. They also see opportunities for arbitrage—that is profiting from price discrepancies—in the sometimes inefficient US oil and gas transport system………………………………………..Full Article: Source

Global Fossil Fuels Face A Loss Of $30 Trillion

Posted on 02 May 2014 by VRS  |  Email |Print

The global fossil fuel industry faces a loss of $US28 trillion ($A30.2 trillion) in revenues over the next two decades, if the world takes action to address climate change, cleans up pollution and moves to decarbonise the global energy system.
The assessment, made by leading European broking house Kepler Chevreux, underlines what’s at stake for the fossil fuel industry from a push to cleaner fuels and concerted efforts to reduce emissions, and helps explain the enormous push back from the oil and coal industries in particular against such policies………………………………………..Full Article: Source

Eight energy myths explained

Posted on 28 April 2014 by VRS  |  Email |Print

Republicans, Democrats, and environmentalists all have favorite energy myths. Even Peak Oil believers have favorite energy myths. The following are a few common mis-beliefs, coming from a variety of energy perspectives. I will start with a recent myth, and then discuss some longer-standing ones.
Myth 1. The fact that oil producers are talking about wanting to export crude oil means that the US has more than enough crude oil for its own needs. The real story is that producers want to sell their crude oil at as high a price as possible. If they have a choice of refineries A, B, and C in this country to sell their crude oil to, the maximum amount they can receive for their oil is limited by the price the price these refineries are paying, less the cost of shipping the oil to these refineries………………………………………..Full Article: Source

A united Europe can end Russia’s energy stranglehold

Posted on 22 April 2014 by VRS  |  Email |Print

Regardless of how the stand-off over Ukraine develops, one lesson is clear: excessive dependence on Russian energy makes Europe weak. And Russia does not sell its resources cheap – at least, not to everyone.
This, of course, is basic economics. A dominant supplier has the power to raise prices and reduce supply. The way to correct this market distortion is simple. Europe should confront Russia’s monopolistic position with a single European body charged with buying its gas………………………………………..Full Article: Source

Energy ETFs surge on higher commodity prices

Posted on 22 April 2014 by VRS  |  Email |Print

The energy sector has been trading sharply higher, as rising oil and natural gas prices create a sturdy tailwind for many of these integrated service and exploration companies.
After a frightening dip in January, that tested the 200-day moving average, the Energy Select Sector SPDR (XLE) has rocketed to new all-time highs. In fact, XLE has now gained over four percent in the month of April and more than 13 percent since its February low………………………………………..Full Article: Source

Is natural gas no better than coal?

Posted on 16 April 2014 by VRS  |  Email |Print

A new study by scientists from Purdue and Cornell suggests that the methane emissions from shale gas could be much higher than previously thought. The study, published in the Proceedings of the National Academy of Sciences, looked at fugitive methane emissions in Pennsylvania by flying an airplane over drilling sites and collecting samples. What they found was a bit unnerving.
“It is particularly noteworthy that large emissions were measured for wells in the drilling phase — in some cases 100 to 1,000 times greater than the inventory estimates,” said Purdue chemistry professor Paul Shepson………………………………………..Full Article: Source

Global coal demand growth slows slightly: IEA

Posted on 15 April 2014 by VRS  |  Email |Print

Tougher Chinese policies aimed at reducing dependency on coal will help restrain global coal demand growth over the next five years, the International Energy Agency (IEA) says in its annual Medium-Term Coal Market Report.
Despite the slightly slower pace of growth, however, coal will meet more of the increase in global primary energy than oil or gas – continuing a trend that has been in place for more than a decade………………………………………..Full Article: Source

Coal gasification: The clean energy of the future?

Posted on 14 April 2014 by VRS  |  Email |Print

For this simple reason, it remains the world’s main source of power, providing a quarter of our primary energy and more than 40% of our electricity. And it will continue to do so for many years to come.
The challenge, then, is how to harness coal’s energy more cleanly. While global attempts to develop carbon capture and storage (CCS) have stalled, a number of countries are looking at different ways to exploit their abundant coal reserves. Not all are motivated by environmental concerns, but are driven instead by economics and a desire for energy independence………………………………………..Full Article: Source

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