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Commodities Briefing - Category | Energy more

Don’t let UN set our energy policy

Posted on 19 February 2015 by VRS  |  Email |Print

Here’s a question for Canadians to consider leading up to October’s federal election. How much economic damage are NDP Leader Tom Mulcair and Liberal Leader Justin Trudeau prepared to inflict on us in order to get a meaningless pat on the head from the United Nations on climate change?
Because make no mistake, the economic damage will be real if the NDP or Liberals win the next election, or either party forms a minority government, supported by the other. No matter how you do it, “pricing carbon” — meaning pricing industrial carbon dioxide emissions — will be a new financial burden for Canadians. We will pay it either in higher taxes (a carbon tax) or higher prices (cap-and-trade) on a wide range of goods and services………………………………………..Full Article: Source

Private equity and energy: Refilling the pipeline

Posted on 13 February 2015 by VRS  |  Email |Print

Oil’s plunge may have helped consumers, but it has hurt big private-equity firms. Earlier this month Apollo Global Management announced that profits were down by 79% year on year in the three months to December 31st. This week KKR and the Carlyle Group said they were smarting too, with KKR’s profits down by 94% and Carlyle’s by 68%. Energy-related assets, whose valuations have fallen with the oil price, are largely to blame.
Spurred on by the shale boom in America, private-equity funds have invested heavily in the energy sector. More money was raised for energy buy-outs in America in 2014, and more deals were made, than ever before, according to Preqin, a data provider………………………………………..Full Article: Source

Goldman Sachs: Coal hits ‘retirement age;’ IEA disagrees

Posted on 27 January 2015 by VRS  |  Email |Print

If Vegas bookmakers were taking bets on whether Gateway Pacific Terminal would be built, the odds would have been getting longer in the past few months. Earlier this month came the ostensible bombshell that opponents of SSA Marine’s proposed coal terminal at Cherry Point have been waiting for: A clear request from Lummi Nation to the U.S. Army Corps of Engineers to deny a federal permit for the terminal.
Case history has been favorable to Indian tribes, and Lummi Nation in particular, when it comes to protecting the traditional fishing grounds granted by treaty. In November, a financial expert from an organization that seeks to wean the world off coal told a Bellingham audience the end was near for the fossil fuel. ……………………………………….Full Article: Source

IEA economist sees upward pressure on oil prices by year-end

Posted on 22 January 2015 by VRS  |  Email |Print

Oil prices will face upward pressure by the end of the year, the chief economist of the International Energy Agency (IEA) said on Wednesday, as a fall of more than 50 percent in the price of crude since last June is expected to eventually curtail some production.
Fatih Birol of the IEA was appearing on a panel with OPEC Secretary General Abdullah al-Badri at the World Economic Forum in Davos, Switzerland. Badri argued that OPEC oil producers were right not to cut production despite the price fall………………………………………..Full Article: Source

Will 2015 be the Recovery Year for Energy and Commodities?

Posted on 06 January 2015 by VRS  |  Email |Print

Last year was a dismal year for oil, the energy sector in general, commodities, and gold. Following through with the theme of my weekend newspaper column of how investors tend to shop for the next year’s winners from the lists of the previous year’s hottest out-performers, while studies show they’d be much better off considering the previous year’s under-performers, leads us to the worst performers of last year.
Are they oversold? Are their bear markets over? Are they at least due for a bear market rally? So far, oil is showing no signs of bottoming. After attempting to hold at $55 a barrel in December, it has declined to a new low………………………………………..Full Article: Source

Energy Sector Outlook for 2015

Posted on 06 January 2015 by VRS  |  Email |Print

It appears that crude oil prices are starting to stabilize. At least they’ve started to decline slower. Most of the “experts” who send me their price forecasts have the low being set in the $45 to $55 range. This week we will see the first major winter storm of the season, which should draw more attention to the energy sector.
The first “Clipper” of the season will bring heavy snow, high winds and very cold temperatures to an area of the country that burns a lot of natural gas for residential space heating. People in the Northeast still use a lot of heating oil to heat their homes, so this may have some impact on oil demand………………………………………..Full Article: Source

OPEC’s Dominance Of Energy Market ‘Is Over’

Posted on 23 December 2014 by VRS  |  Email |Print

The era of OPEC domination over the global energy market is over, the former head of the oil cartel has told Sky News. Abdullah bin Hamad al-Attiyah, the former energy minister of Qatar, said that the group of 12 oil exporters, which dominated the production and price-setting of energy for half a century, had surrendered its power to single-handedly affect prices.
He urged the organisation to collaborate with Russia and reduce global oil production. Asked whether the era of OPEC dominance was finished, he said: “It’s over. OPEC cannot play alone. This is why when OPEC met at the last moment they cannot decide it because if they will cut there is no meaning it will be the others who will benefit and even increase their production.”……………………………………….Full Article: Source

U.S. Should Save Nuclear Industry From Fracking Peril: IEA

Posted on 19 December 2014 by VRS  |  Email |Print

The United States needs to develop clear policies to support its ailing nuclear industry—which is prone to seeing old reactors close rather than new reactors open largely because of the impact on energy prices of cheap natural gas from fracking, the International Energy Agency said.
“The domestic nuclear industry is therefore at a critical juncture as a consequence of its declining economic competitiveness, and existing market mechanisms do not favour investment in high capital-intensive nuclear technology,” according to the IEA’s comprehensive review of U.S. energy policy for 2014………………………………………..Full Article: Source

Uranium picks up on Asia’s renewed appetite for nuclear energy

Posted on 19 December 2014 by VRS  |  Email |Print

Since bottoming out at US$28 a pound in May, uranium prices have climbed 35%, becoming the one commodity that seems to be resisting the broad selloff. The surge, analysts agree, is due mostly to China’s increased reliance on nuclear energy and renewable energy sources as it moves away from coal-fired plants. But prices are still far from the point that would allow mining activity to pick up again, they warn.
“There’s some movement but I don’t think uranium prices are going to break out of the stalls in near-time,” says Matthew Keane, mining analyst with Argonaut in Perth Australia told Financial Times……………………………………….Full Article: Source

Is the commodity crash,volatility in equities a danger sign for global economy?

Posted on 12 December 2014 by VRS  |  Email |Print

Energy prices have crashed to the lowest level in five years, so are metals and agri-commodities while volatility in equities have increased raising concerns about global economic growth. In a linear way, it is always easy to say that lower commodity prices signal the strengthening of recessionary trends or absence or recovery signals in the economy.
If that were so, every region should have the same economic growth but in reality Eurozone remains weak while US is on the edge of recovery with markets eagerly awaiting the likelihood of an interest rate hike. Asian giants China and India may have slowed down a bit but still not out of the reckoning.The market is awaiting the European Central Bank (ECB) monthly report in a short while from now………………………………………..Full Article: Source

US energy is growing, and so is US ‘power’

Posted on 26 November 2014 by VRS  |  Email |Print

America’s unexpected transformation into the world’s biggest natural gas producer and one of the globe’s largest oil producers will give the U.S. more geopolitical clout on the world stage—including in key relationships with China, Russia and the Middle East.
By 2020, the U.S. is likely to be energy independent, along with Canada, its biggest import and export partner. Add to that a new boom expected from a reforming energy industry in Mexico, and North America will more than hold its own as a powerhouse in the global energy market……………………………Full Article: Source

EU energy costs turn up heat on aluminium sector

Posted on 25 November 2014 by VRS  |  Email |Print

Aluminium workers at the Alunorf plant in the German city of Neuss aptly call one of their production lines “the grill”. Nearby, smelters in what is one of Europe’s leading industrial clusters are fired up to 960C. To keep all this running, the aluminium industry needs to be a voracious power consumer.
But across Europe, energy costs are threatening the survival of the industry: 11 out of 24 smelters in the EU have shut since 2007. And industry chiefs have no doubt about what is strangling their business, complaining that the EU’s environmental regulations are making electricity prices prohibitive………………………………….Full Article: Source

Building a lower-carbon, higher-energy future

Posted on 17 November 2014 by VRS  |  Email |Print

Cutting greenhouse gas emissions while keeping the lights on for a growing global population is a huge but critical challenge. We have to believe it is a challenge we can meet. At this year’s United Nations Climate Summit in New York, delegates gathered to “catalyze climate action” and “raise political ambition.”
Carbon pricing. The summit’s rhetoric may be high-minded but its agenda is suitably pragmatic. One clear sign of that pragmatism is its interest in carbon pricing. At first sight, carbon pricing—imposing a cost on carbon to encourage polluters to cut their greenhouse gas emissions—can look like a fiddly response to the challenge of climate change. An accountant’s solution to a scientist’s problem. But, in reality, it is one of the best tools we have……………………………………Full Article: Source

IEA: Crises cloud world energy outlook

Posted on 14 November 2014 by VRS  |  Email |Print

Global security is headed for an uncertain future if world leaders fail to transform energy supplies, industry expert group IEA warns in new report. The International Energy Agency called on world leaders to take decisive action to stem future energy demand in its latest World Energy Outlook report released on Wednesday.
The Paris-based energy consultancy said that total energy demand is set to rise by 37 percent by 2040, and that annual investment of $900 billion (723 billion euros) in oil and gas development is needed by the 2030s to meet the projection…………………………………Full Article: Source

Global Energy Demand May Outpace Supply in Future, IEA Says

Posted on 12 November 2014 by VRS  |  Email |Print

Global energy demand will dramatically increase over the next 20 years, but turmoil in many key producing regions and the difficulties in formulating the right energy policies mean the world may not be able to respond with adequate supply and meet its climate change goals, the International Energy Agency said Wednesday.
In its annual World Energy Outlook, the Paris-based energy watchdog forecast that global energy demand will increase 37% by 2040. Though global resources are adequate to meet the growth in consumption, significant investment and political action are needed to ensure the resources are developed, the IEA said………………………………………..Full Article: Source

OPEC: Energy demand to increase by 60 pct by 2040

Posted on 07 November 2014 by VRS  |  Email |Print

By 2040, energy demand is expected to increase by 60 percent to 256 million barrels oil equivalent per day (mb/d), according to OPEC’s report: World Oil Outlook for 2014. The Organization of the Petroleum Exporting Countries, or OPEC, released its outlook for 2014, examining the main issues and drivers that could affect oil and energy markets in the medium to long term between 2014 and 2040, on Thursday.
While energy demand is expected to increase by 60 percent by 2040, global oil demand is expected to increase by over 21 mb/d by 2040, to reach 111 mb/d, the report said………………………………………..Full Article: Source

Coal price weakness will extend into 2015:BofA Merrill Lynch

Posted on 03 November 2014 by VRS  |  Email |Print

Coal price weakness is expected to extend into 2015 on the back of a growing physical surplus next year. The balance is weaker on soft demand in China and continued strong mine ramp-ups around the world, forcing further production cuts in the US. A new 6% import tax on Australian supplies into China may further depress Newcastle prices, according to Bank of America Merrill Lynch.
Still, at $64/mt Newcastle prices are not low enough to force production cuts in Australia, as the vast majority of production earns enough to cover variable cash costs as long as Newcastle prices stay above $55/mt………………………………………..Full Article: Source

Energy efficiency market hits $310b

Posted on 29 October 2014 by VRS  |  Email |Print

The global energy efficiency market is worth at least $310 billion a year and growing, according to a new report from the International Energy Agency (IEA). The report also finds that energy efficiency finance is becoming an established market segment, with innovative new products and standards helping to overcome risks and bringing stability and confidence to the market.
IEA Executive Director Maria van der Hoeven said that energy efficiency is the invisible powerhouse in IEA countries and beyond, working behind the scenes to improve our energy security, lower our energy bills and move us closer to reaching our climate goals………………………………………..Full Article: Source

UK energy minister sees rapid reform of EU carbon market

Posted on 29 October 2014 by VRS  |  Email |Print

Plans to accelerate reform of Europe’s carbon market could be finalised as soon as April, building on the momentum from last week’s EU deal on green energy policy, Britain’s energy and climate minister said on Tuesday.
The EU has been debating proposals to strengthen its Emissions Trading Scheme (ETS), meant to be the bloc’s sharpest tool in shifting to a low carbon economy but blunted by a surplus of spare pollution permits. The plan is to set up a mechanism known as the Market Stability Reserve (MSR) to absorb some of the excess and drive up the price of allowances to increase the cost of burning higher carbon fuels relative to cleaner energy………………………………………..Full Article: Source

EU 2030 Energy and Climate Framework to tackle rising energy prices

Posted on 28 October 2014 by VRS  |  Email |Print

Rising energy prices and volatility of energy markets has been threatening economic stability in Europe and inevitably weakening its competitiveness. While the U.S. having access to cheaper unconventional fossil fuel supplies like shale gas, the EU has long term gas and oil contracts with higher prices.
Generally speaking, the EU industry currently pays gas prices three times higher than the industry in the U.S., India or Russia. Meanwhile, EU industrial electricity prices are more than twice those in the U.S. and Russia. This price gap negatively affects the EU’s energy-intensive industries’ competitiveness, particularly where energy accounts for a vast share of total production costs. ……………………………………….Full Article: Source

Developing countries begin to take lead in green energy growth

Posted on 28 October 2014 by VRS  |  Email |Print

The growth rate of wind farms and solar plants in China, India and an array of smaller developing countries is starting to outpace that in many of the world’s richest nations.
Companies such as China’s Yingli and Trina Solar, two of the world’s largest solar-panel makers, and Indian wind turbine group, Suzlon Energy, are helping drive a major shift in green energy use, a year-long study of developing countries’ energy use suggests………………………………………..Full Article: Source

Are Declining Oil Prices Increasing the Risks to OPEC, U.S. Energy Security or Clean Fuels Supplies?

Posted on 24 October 2014 by VRS  |  Email |Print

World crude oil prices have declined by over 20% since June 2014. While this level of price volatility is not without historic precedent, prices are projected to possibly decline to much lower levels by year’s end. Further decline in crude oil market prices will impact most petroleum oil Suppliers and Consumers.
Lower oil prices should directionally benefit Consumers and help struggling economies around the World. The decline in oil prices, however, can pose economic and other risks to many petroleum oil and alternative fuels Suppliers. Will declining crude oil market prices create significant economic and sustainability risks to the OPEC Cartel, U.S. Energy Security or Alternative Clean Fuels programs?……………………………………….Full Article: Source

LNG focus on China,key old growth markets of Japan, Korea: PIRA Energy

Posted on 10 October 2014 by VRS  |  Email |Print

NYC-based PIRA Energy Group reports that new import capacity in Japan and Korea enhances buying flexibility. In the U.S., NYMEX falloff after hefty build highlights market’s lack of direction. In Europe, gas year begins with high stocks but even higher risks. Specifically, PIRA’s analysis of natural gas market fundamentals has revealed the following:
New import capacity in Japan and Korea enhances buying flexibility: Much attention is focused on China as the key growth market for Asian LNG both in the short and long term, but import capacity is quietly being added in the old growth markets of Japan and Korea as well, adding much needed flexibility and storage capacity for Asia’s two largest buyers, even if the demand growth outlook appears weak for now………………………………………..Full Article: Source

IEA: Energy Efficiency Worth $310 Billion

Posted on 09 October 2014 by VRS  |  Email |Print

Investments in measures to curb energy waste and boost efficiency are overtaking wind and solar spending and have reached at least $310 billion a year, the International Energy Agency said. That’s almost $100 billion higher than investment in renewable energy in 2013, which amounted to $213 billion, according to estimates from Bloomberg New Energy Finance.
Demand dropped as much as 5 percent from 2001 to 2011, largely due to investments in efficiency, the Paris-based agency said today in a report, which studied countries including the U.K., U.S. and Japan. Savings in 11 nations in 2011 were equivalent to displacing a continent’s energy demand, it said………………………………………..Full Article: Source

EU Moves Closer to Deal on 2030 Climate, Energy Strategy

Posted on 07 October 2014 by VRS  |  Email |Print

The European Union made headway toward a deal on a strategy to shift to a low-carbon economy and boost security of energy supplies amid a natural-gas dispute between Russia and Ukraine.
Energy and environment ministers from the EU’s 28 member states met in Milan yesterday to prepare ground for a compromise at the Oct. 23-24 summit, where the bloc’s leaders are expected to decide on policies for 2030. The challenge for governments is to reconcile the need for cheaper and safer energy while accelerating the pace of emissions reductions………………………………………..Full Article: Source

World’s top energy gluttons: Iceland leads with largest per capita consumption

Posted on 06 October 2014 by VRS  |  Email |Print

Next time you get into your car and drive to the supermarket, think about how much energy you consume on an annual basis. It is widely assumed that Westerners are some of the world’s worst energy pigs. While Americans make up just 5 percent of the global population, they use 20 percent of its energy, eat 15 percent of its meat, and produce 40 percent of the earth’s garbage.
Europeans and people in the Middle East, it turns out, aren’t winning any awards for energy conservation, either. Oilprice.com set out to discover which countries use the most energy and why………………………………………..Full Article: Source

Oil price forecasts cut, to stay subdued in 2015

Posted on 02 October 2014 by VRS  |  Email |Print

Energy analysts have made the largest downward revision to their oil price forecasts in almost two years, a monthly Reuters poll showed on Wednesday, with the marked weakness in the price of Brent seen persisting into 2015.
The survey results pose a challenge to members of the Organization of the Petroleum Exporting Countries (OPEC), who have largely argued prices will recover from two-year lows hit below $95 a barrel this week on stronger demand in the fourth quarter………………………………………..Full Article: Source

Sun may be our main energy source by 2050: IEA

Posted on 01 October 2014 by VRS  |  Email |Print

Solar power could trump alternatives like fossil fuels, wind, hydro and nuclear to be the world’s largest source of electricity by 2050, according to a prominent energy watchdog.
The International Energy Agency (IEA), which is best known for its monthly oil updates, published two reports on Monday detailing how greater use of solar energy could radically cut the need to use polluting carbon dioxide. The Paris-based agency said that if countries embraced solar energy, carbon dioxide emissions could be cut by more than 6 billion tons per year by 2050………………………………………..Full Article: Source

Solar power could be world’s top electricity source by 2050, says IEA

Posted on 30 September 2014 by VRS  |  Email |Print

Falling cost of solar photovoltaic panels could help technology generate up to 16% of world’s electricity by mid-century. Solar energy could be the top source of electricity by 2050, aided by plummeting costs of the equipment to generate it, a report from the International Energy Agency (IEA), the West’s energy watchdog, said on Monday.
IEA Reports said solar photovoltaic (PV) systems could generate up to 16% of the world’s electricity by 2050, while solar thermal electricity (STE) - from “concentrating” solar power plants - could provide a further 11%………………………………………..Full Article: Source

Oil majors’ R&D into conventional and renewable energy at risk

Posted on 26 September 2014 by VRS  |  Email |Print

The companies that own the world’s most powerful supercomputers for commercial use are not in the information technology industry, neither in biotech nor even finance. They are in the oil business: Eni of Italy, BP of the UK and Total of France, according to public disclosures.
The computers, which can process two or three thousand trillion calculations a second, are used for handling large volumes of geophysical data from seismic surveys, creating sophisticated 3D images of rocks thousands of feet underground………………………………………..Full Article: Source

Russia’s energy minister to meet OPEC as oil price falls more

Posted on 16 September 2014 by VRS  |  Email |Print

Russian Energy Minister Alexander Novak will meet OPEC officials on Tuesday in Vienna, his spokeswoman said, as oil’s price fall piled pressure on Moscow’s budget. The annual meeting had been planned long before oil fell below the $100 per barrel level critical for Russia’s oil sales which account for 40 percent of state budget revenues.
Russia suffered from a decline of oil production and prices this year and has cut its outlook for oil output as core Western Siberian fields become more depleted………………………………………..Full Article: Source

Fracking Gives U.S. Energy Boom Plenty of Room to Run

Posted on 15 September 2014 by VRS  |  Email |Print

Skeptics of the U.S. energy boom say it can’t last much longer because it requires drilling an ever-increasing number of wells. But the boom already has lasted longer than anyone would have imagined just a decade ago and has more room to run. That’s because oil and natural-gas wells have become more productive—an unrecognized but potent trend that should keep the fuels flowing.
Back in 2003, the energy industry had just begun combining the techniques of drilling horizontal bores through shale and then using hydraulic fracturing—shooting tons of water, chemicals and sand into the rocks………………………………………..Full Article: Source

EU pushes for urgent energy deal in U.S. trade pact

Posted on 10 September 2014 by VRS  |  Email |Print

The United States should commit to exporting oil and natural gas to Europe under a transatlantic trade deal in light of the European Union’s geopolitical situation, the EU trade commissioner said on Tuesday.
Tension between Russia and the West over the future of Ukraine is spurring the European Union to renew efforts to end decades of dependence on Russian gas. One solution would be greater access to abundant U.S. resources………………………………………..Full Article: Source

IEA Says Investment In Clean Energy Will Keep Growing, Slowly

Posted on 04 September 2014 by VRS  |  Email |Print

The International Energy Agency (IEA) says overall investment in renewable energy will continue to grow through 2020, but at a slower rate than it has in recent years.
The report says funding for clean energy reached a peak of $280 billion in 2011 and was still a generous $250 billion in 2013. But that is expected to decline to an average of $230 billion a year at least until 2020. Part of the reason is the continuing cost of technology and resistance by governments around the world to pass laws that make such investments more attractive………………………………………..Full Article: Source

IEA predicts slowdown in global renewable energy expansion through 2020

Posted on 02 September 2014 by VRS  |  Email |Print

A new report from International Energy Agency (IEA) has revealed that the annual growth in new renewable power will slow and stabilize after 2014 due to policy uncertainty and the absence of grid integration measures. The agency warns that it may fall short of delivering the generation required to meet global climate change objectives.
Wind, solar and hydro and other renewables will account for approximately 26% of global electricity generation by the end of 2020 from about 22% in 2013. The report said the expansion will slow in the next five years unless policy uncertainty is diminished………………………………………..Full Article: Source

Policy uncertainty threatens to slow renewable energy momentum

Posted on 02 September 2014 by VRS  |  Email |Print

IEA forecast sees renewable power as a cost-competitive option in an increasing number of cases, but facing growing risks to deployment over the medium term. The expansion of renewable energy will slow over the next five years unless policy uncertainty is diminished, the International Energy Agency (IEA) has said in its third annual Medium-Term Renewable Energy Market Report.
According to the report, power generation from renewable sources such as wind, solar and hydro grew strongly in 2013, reaching almost 22% of global generation, and was on par with electricity from gas, whose generation remained relatively stable………………………………………..Full Article: Source

Why The Energy Markets May Be At A Turning Point

Posted on 01 September 2014 by VRS  |  Email |Print

The U.S. energy markets tumbled this summer due to a bearish combination of unusually mild weather, the strengthening U.S. dollar, and rising supplies. West Texas crude oil dropped by approximately 14 percent and Henry Hub natural gas fell just over 20 percent.
In the past couple of weeks, both crude oil and natural gas have stabilized and broken above key technical resistance levels – a possible sign of a change of trend………………………………………..Full Article: Source

Global green energy growth threatened by policy uncertainty, IEA warns

Posted on 29 August 2014 by VRS  |  Email |Print

Global green energy expansion may stall unless governments can put in place more stable and long-term policies, the International Energy Agency (IEA) warned.
Its third annual Medium-Term Renewable Energy Market Report outlines how renewable sources of energy such as wind, solar and hydropower have made strong progress worldwide to make up around 22 per cent of global power generation, roughly on a par with electricity from gas………………………………………..Full Article: Source

IEA expects $1.7 trillion in clean-energy investments through 2020

Posted on 29 August 2014 by VRS  |  Email |Print

Investments in new clean-energy capacity will total $USUS1.61 trillion ($1.72 trillion) through 2020 even as the expansion of renewables is expected to slow, the International Energy Agency said.
Funding for power generation from wind, solar radiation and biomass will average $US230 billion a year from $US250 billion in 2013 as technology costs fall and growth loses pace, the Paris-based adviser to 29 nations said today in its annual renewables report………………………………………..Full Article: Source

Global renewable energy expansion to slow to 2020: IEA

Posted on 29 August 2014 by VRS  |  Email |Print

Growth in global renewable energy capacity will slow to 2020 if uncertain government policies continue to threaten investment, the International Energy Agency (IEA) said on Thursday.
Last year power capacity from sources such as wind, solar or hydro expanded at its fastest pace to date, putting renewables on a par with natural gas at almost 22 percent of global electricity generation. ……………………………………….Full Article: Source

Need for Global Energy Security

Posted on 22 August 2014 by VRS  |  Email |Print

The development of a sustainable, long-term solution to meeting the world’s energy needs is one of the defining issues of our time. The risks of getting our energy policies wrong are considerable and the consequences large, as numerous conflicts have occurred as a result of competition for resources.
If we don’t do something significant to facilitate greater cooperation regarding energy, future conflicts are inevitable. Energy security can briefly be defined as “adequate, affordable and reliable supplies.” As climate security and energy security are inextricably linked, I would hasten to add that there is no energy security without climate security. Indeed, cost-effective mitigation and adaptation strategies– namely, tackling the causes and effects of climate change – must be at the heart of energy policy………………………………………..Full Article: Source

Obama’s Second-Term Energy Policy Is Working

Posted on 19 August 2014 by VRS  |  Email |Print

President Obama has put energy and the environment at the top of his second-term agenda. The focus has been on climate change, and on exploiting the unexpected plenty of North American oil, gas and energy technology. The administration’s progress has been notable—especially in comparison with health care, immigration and foreign affairs.
The president’s highest priority is to reduce the carbon-dioxide emissions of existing electricity generating power plants. In June the Environmental Protection Agency released an unexpectedly thoughtful and well-supported plan setting specific goals for reducing emissions chosen from a menu of measures such as increased efficiency, emissions trading and fuel switching, mainly from coal to natural gas for electricity generation. The projected CO2 reductions—about 30% below 2005 levels by 2030—are reasonable and shouldn’t significantly increase industry or consumer costs………………………………………..Full Article: Source

Why King Coal is Bigger than Oil or Gas

Posted on 18 August 2014 by VRS  |  Email |Print

Lost in the debate about exporting U.S. oil and natural gas is any mention of America’s greatest energy export. Coal. And while legislators, corporations, environmentalists and others argue over pipelines, refineries, tariffs and trade agreements in the oil and natural gas industries, the U.S. sends tons of coal to eager customers all over the globe. Coal usage is at a 45-year peak, and Europe and Asia will take every ounce we can export…
Oil, natural gas, and renewable energy sources may be the ones in the spotlight, but King Coal is still king………………………………………..Full Article: Source

EU regulators say Germany, others in breach of energy law

Posted on 14 August 2014 by VRS  |  Email |Print

EU regulators have begun legal proceedings against 24 member states, including Germany, for failing to enforce a law on energy efficiency, the European Commission said on Wednesday.
Energy saving has risen up the list of EU priorities since the conflict with the European Union’s biggest oil and gas supplier Russia over its actions in Ukraine increased concerns about energy security………………………………………..Full Article: Source

Unconventional energy’s power

Posted on 12 August 2014 by VRS  |  Email |Print

One of the key drivers of the US economic recovery in recent years has been the so-called ‘energy revolution’, as new technology and improved ‘fracking’ techniques have allowed access to unconventional energy reserves.
This boom in energy production in the past few years has had a number of effects, both within the US and the wider energy market. It has also meant the idea of ‘energy independence’ for the country could eventually become a reality……………………………………Full Article: Source

Global growth in use of gasoline outpaces diesel in 2014

Posted on 08 August 2014 by VRS  |  Email |Print

Unlike in recent years, growth in global gasoline consumption is outpacing diesel growth in 2014. At the same time, new refining capacity engineered to produce more distillate than gasoline is coming online in 2014. The narrowing spread for December 2014 futures contracts demonstrates how these two factors may be temporarily leading to a tighter global gasoline market than was expected at the beginning of the year.
On July 8, the futures price premium of New York Harbor ultra-low-sulfur diesel (heating oil) over reformulated blendstock for oxygenate blending (RBOB) for December 2014 delivery fell to 22 cents per gallon on the New York Mercantile Exchange (Nymex)………………………………………..Full Article: Source

The corporatisation of US green energy: a double-edged sword worth billions

Posted on 08 August 2014 by VRS  |  Email |Print

As tax breaks and incentives for renewable energy increase, corporations are entering the green energy landscape. There’s a popular meme that surfaces on green energy blogs, forums, and Facebook pages. The gist is that large corporations love oil and gas because they can own and control it. They’re against renewable energy because no-one can own the sun or wind.
The problem for anti-corporate green-energy campaigners is, increasingly: the meme isn’t true………………………………………..Full Article: Source

Energy firms fight for right to hedge at portfolio level

Posted on 08 August 2014 by VRS  |  Email |Print

CFTC position limits rule could limit the ability of energy firms to hedge, unless they aggregate commodity derivatives positions held across disparate business units.
A revived position limits rule from the US Commodity Futures Trading Commission (CFTC) could force energy firms to abandon the widely used practice of allowing individual business units to handle hedging for their own asset portfolios independently of the rest of the enterprise, industry groups have warned………………………………………..Full Article: Source

Energy ETFs in Focus on Big Oil Q2 Beat, Lower Production

Posted on 05 August 2014 by VRS  |  Email |Print

Big U.S. oil companies like Exxon Mobil (XOM), Chevron (CVX) and ConocoPhillips (COP) reported robust second-quarter results late last week. All the three firms topped our revenue and earnings estimates on higher energy prices, but XOM and CVX are still struggling with shrinking production volumes amid the boom in shale oil and gas business. On the other hand, COP witnessed an increase in production.
The largest U.S. oil company, Exxon Mobil , reported earnings per share of $2.05 that strongly outpaced the Zacks Consensus Estimate of $1.91 and the year-ago earnings of $1.55. Total revenue rose 5% year over year to $111.6 billion, trumping the Zacks Consensus Estimate of $109.1 billion……………………………………….Full Article: Source

Energy: Exports and Sanctions, Criss-Crossing the Atlantic

Posted on 04 August 2014 by VRS  |  Email |Print

It’s been a busy week in energy, particularly on the geopolitical front, with Washington at a loss over exactly whose side to take in the Iraq-Kurdish oil showdown, the implications of new sanctions against Russia unclear at best, and continued conflict and chaos in Iraq, Syria and Libya that has speculators reaching the limits of their predictive powers.
On Monday, a Texas judge ordered US Marshalls to seize a tanker carrying a million barrels of Kurdish oil off the US coast—at the behest of the Iraqi authorities in Baghdad–but two days later the story is that the tanker is too far offshore to be in Texas’ jurisdiction, so some more time has been bought for the Kurds to sell their wares on the international market………………………………………..Full Article: Source

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