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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

Coal Bed Methane market to reach $17.31 billion by 2020

Posted on 31 July 2014 by VRS  |  Email |Print

The Global CBM (Coal Bed Methane) market is expected to reach $17.31 billion by 2020, growing at a CAGR of 5.9% from 2014 to 2020, according to a new report by GrandView Reseach. Asia Pacific region will become most dynamic regional market with China, India and Indonesia are likely to lead the Asian CBM industry, th e report said.
Global CBM production was 2,920.3 Bcf in 2013 and is expected to reach 4,667.4 Bcf by 2020, growing at a CAGR of 7% from 2014 to 2020. US and Canada are the largest CBM producers, accounting for over 70% of global volume in 2013. US CBM market revenues were estimated at USD 7.22 billion in 2013 and are exoected to grow at a CAGR of 5.4% from 2014 to 2020………………………………………..Full Article: Source

Global economy to expand above trend in H2 2014: PIRA Energy

Posted on 31 July 2014 by VRS  |  Email |Print

NYC-based PIRA Energy Group believes that the global economy will expand at above trend pace in the second half of 2014. In the U.S., products increased and crude stock declined. In Japan, crude stocks built as imports rebounded from storm impacts. Specifically, PIRA’s analysis of the oil market fundamentals has revealed the following:
World Oil market forecast: After a sub-par first half, the global economy will expand at above trend pace in the second half of 2014, led by manufacturing. First half weakness in the economy undermined global oil balances with inventories building back to year ago levels………………………………………..Full Article: Source

Energy Regulators Say EPA’s Climate Rule Poses Grid Challenges

Posted on 30 July 2014 by VRS  |  Email |Print

President Barack Obama’s proposed rule to curb carbon emissions from the nation’s power plants could raise costs and affect reliability in the U.S. electricity system, federal regulators told Congress.
But the commissioners of the Federal Energy Regulatory Commission, the government agency charged with overseeing the electric grid and other parts of the nation’s energy infrastructure, also said at a House hearing the government has a responsibility to act on climate change………………………………………..Full Article: Source

Why Coal Deserves Your Attention Right Now

Posted on 30 July 2014 by VRS  |  Email |Print

Fossil fuels have had a banner year so far. Both prices for oil and natural gas have surged on the backs of higher demand and a dose of geopolitical tension. Likewise, oil and gas stocks – as represented by the Energy Select Sector SPDR ETF (XLE) – have also produced some hefty returns this year.
The same can’t be said for old king coal, however. A host of issues from lower demand to emissions regulation have sent prices for both the underlying commodity and the companies that extract it down into the basement………………………………………..Full Article: Source

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

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