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Predictions for 2014: Energy is anything but conventional

Posted on 30 December 2013 by VRS  |  Email |Print

With dramatic new sources of both supply and demand emerging across the globe, energy is poised to get even more unconventional in 2014. What’s next for oil, gas, and renewables? In energy, next year promises to be just as unconventional as the last.
North America’s boom in unconventional oil and gas will continue to expand and the shale success could spread elsewhere. Easy-to-reach conventional oil is dwindling, but 2014 could see a reprieve as production from Iraq, Libya, and other war-torn oil nations seems to be stabilizing. And easing relations with Iran has the potential to bring major amounts of oil back onto global markets………………………………………..Full Article: Source

Global coal demand growth slows

Posted on 20 December 2013 by VRS  |  Email |Print

Growth in global coal demand will slow over the next five years as consumption in China, the US and Europe are expected to ease, according to the International Energy Agency (IEA). In its Medium-Term Coal Market Report, the IEA said that in the period to 2018, global coal demand will grow by 2.3% per year, reaching almost 9 billion tonnes. This is down from its previous forecast annual growth rate of 2.6% over the same period.
Between 2007 and 2012, global coal demand grew by an average of 3.4% per year, the IEA said. However in 2012 the growth in global coal consumption dropped to 2.3% year-on-year, reaching 7.7 billion tonnes………………………………………..Full Article: Source

Global coal demand growth seen moderating between 2013 and 2018 -IEA

Posted on 17 December 2013 by VRS  |  Email |Print

Tougher Chinese policies aimed at reducing the nation’s dependency on coal and curbing pollution will help moderate global coal demand growth over the next five years, said a leading world energy watchdog Monday.
The International Energy Agency said in its Medium-Term Coal Market Report that coal is forecast to grow at an average of 2.3% a year through 2018 compared with the 2012 report’s forecast of 2.6% for the five years through 2017 and the actual growth of 3.4% a year between 2007 and 2012. Coal is forecast to be the fossil fuel with the largest growth in absolute terms up to 2018, although natural gas demand is forecast to grow at 2.4% a year over the same period………………………………………..Full Article: Source

Five graphs that tell the future story of coal

Posted on 17 December 2013 by VRS  |  Email |Print

International demand for coal is only going in one direction: up. Radical action to stall the growth of coal and curb the growth in greenhouse gas emissions is off-track, according to the International Energy Agency (IEA).
The IEA’s latest five-year outlook predicts coal consumption will grow at an average 2.3 per cent per year. The world will burn almost nine billion tonnes of coal per year by 2018, the agency predicts. Despite efforts from the Chinese government to encourage more efficient use of energy and more power from renewables, China will account for nearly 60 per cent of the predicted growth………………………………………..Full Article: Source

Morgan Stanley: LNG will turn Australia into an energy superpower by 2017

Posted on 17 December 2013 by VRS  |  Email |Print

Morgan Stanley believes that by the middle of the decade Australia will be a global energy superpower thanks to increases in its natural gas exports, allowing it for the first time in nearly 40 years, to eliminate a current account deficit.
They expect LNG production to increase vastly as huge projects start to come online and turn Australia into the world’s largest exporter of LNG by 2017, overtaking Qatar………………………………………..Full Article: Source

Australia to be an energy ’superpower’

Posted on 16 December 2013 by VRS  |  Email |Print

Australia is to become a global gas superpower by the middle of the decade and eliminate its current account deficit for the first time in almost 40 years, according to Morgan Stanley. ”Liquefied natural gas (LNG) exports from Australia could be the next big thing,” said the bank in a new report.
It predicted a ”huge ramp-up” in LNG output that could transform the country’s economy, claiming that Australia could overtake Qatar to become the world’s biggest exporter of LNG as soon as 2017, rather than 2030 as widely assumed………………………………………..Full Article: Source

China’s changing coal consumption threatens Australia

Posted on 16 December 2013 by VRS  |  Email |Print

China’s changing coal consumption is threatening the existence of Australian coal mines. As China rallies to war to work for cleaner air, the most visible casualties of this war would be the Australian coal mines which are at risk of getting stranded, if not all together abandoned.
“Demand below expectations, and lower coal prices as a result, would increase the risk that coal mines, reserves and coal-related infrastructure could become mothballed or abandoned,” a new study by Oxford University, commissioned by HSBC Bank, said………………………………………..Full Article: Source

IEA official calls for new norms for use of energy resources

Posted on 10 December 2013 by VRS  |  Email |Print

A senior official of the International Energy Agency (IEA) has urged governments in the region to make policies to ensure that there is effective and efficient use of their energy resources.
Speaking at the Qatar Energy and Water Efficiency conference yesterday, Robert Tromop, the head of Energy Efficiency at the IEA, said the recommendations on the energy efficiency that the Paris-based 28-member agency has made are applicable to not only the member-countries but also to the rest of the world, including many high requirement countries and energy rich ones………………………………………..Full Article: Source

OPEC inaction masks looming supply glut in 2014: Energy Markets

Posted on 03 December 2013 by VRS  |  Email |Print

Even with OPEC forecast to keep its output quota unchanged at a meeting this week, falling oil demand and prospects for increased supply from some member states mean the group’s leader, Saudi Arabia, will have to cut production anyway.
The kingdom and its allies Kuwait, Qatar and the United Arab Emirates will need to produce about 2 million barrels a day less in 2014 to prevent a glut, the Centre for Global Energy Studies predicts. That’s equal to annual revenue of about $80 billion at today’s prices. The 12-nation group meets in Vienna on Dec. 4 and will reaffirm its collective limit of 30 million barrels a day, according to 22 of 24 analysts and traders surveyed by Bloomberg News……………………………….Full Article: Source

IEA: Wind power could supply 18% of world’s power by 2050

Posted on 02 December 2013 by VRS  |  Email |Print

Up to 18% of the world’s electricity could be generated with wind energy by 2050, but the massive jump from 2.6% today would require the nearly 300 GW of current wind capacity worldwide to increase eight- to tenfold and cost nearly $150 billion a year, the International Energy Agency (IEA) said in an updated assessment of the world’s wind power.
The Paris-based autonomous energy agency now sees a much larger penetration of wind power than the 12% by 2050 share forecast in its previous 2009 edition of the “Technology Roadmap: Wind Energy.” Forecasts put China as the world’s future wind power leader, overtaking European members of the Organisation for Economic Co-operation and Development by about 2020 or 2025, with the U.S. ranked third………………………………..Full Article: Source

Asia holds power balance in global energy market: IEA

Posted on 29 November 2013 by VRS  |  Email |Print

Asia’s surging energy use means it has leverage to demand cheaper prices and holds the balance of power in the global market, the head of the International Energy Agency (IEA) said Thursday.
Executive director Maria van der Hoeven said China’s growing appetite for new energy sources will drive up demand over the coming decade, replaced by a rising India in the 2020s and fast-developing Southeast Asian nations after that. “These developments together make Asia the unrivalled centre of global oil trade as the region draws in rising shares of available crude oil,” she told a news briefing in Tokyo, part of a roadshow to promote the agency’s annual report………………………………………..Full Article: Source

IEA and emerging countries to collaborate more closely

Posted on 21 November 2013 by VRS  |  Email |Print

The International Energy Agency and six emerging economies including China and India agreed to pursue stronger cooperation, the IEA said on Wednesday in a bid to strengthen ties with non-members whose share in global oil demand has grown rapidly.
The initiative to form an “association” between the West’s energy watchdog, combining 28 developed economies, and non-members is aimed at boosting ties on energy security, data sharing and energy market analysis, the Paris-based group said…………………………………Full Article: Source

Coal industry heats climate change debate with fossil fuel push

Posted on 18 November 2013 by VRS  |  Email |Print

The global coal industry will court controversy on Monday by insisting that the world’s most abundant fossil fuel can play a part in curbing greenhouse gases through the use of new technology at power plants.
The World Coal Association, representing most of the largest companies in the sector, says its call for more government support for research to make coal burning more efficient is an answer to “policy fatigue” surrounding climate change talks………………………………………..Full Article: Source

5 trends that are set to transform the energy sector

Posted on 14 November 2013 by VRS  |  Email |Print

What it must have been like, being one of those pioneers getting into the traditional oil industry back before all the biggest fields went into production. Well, we are back to this point again, only this time we’re in the deep waters and the shale.
There are five major oil and gas trends that have the ability to take us back to those first golden days of the industry, but the golden days won’t last forever and before we know it, deep-waters won’t look so deep, and the unconventional will become the new conventional………………………………………..Full Article: Source

Global energy market in middle of huge upheaval, IEA says

Posted on 13 November 2013 by VRS  |  Email |Print

The International Energy Agency has said the fuel map of the globe is changing rapidly on a vast upheaval of energy markets. It forecast widening regional differences in energy costs, with an impact on competitiveness.
In its global energy demand outlook, the IEA said Tuesday that new reserves of fossil fuels, notably resources of shale in the US and Canada, would compensate for the decline of existing conventional gas and oil fields, raising the competitiveness of nations which used them………………………………………..Full Article: Source

China to build more renewables than EU, U.S. combined, IEA says

Posted on 13 November 2013 by VRS  |  Email |Print

China is expected to build more renewable power plants through 2035 than the U.S., European Union and Japan combined, according to the International Energy Agency.
The share of energy sources including hydropower, biomass, wind and solar in world electricity supply will rise above 30 percent in that period, “drawing ahead of natural gas in the next few years and all but reaching coal as the leading fuel for power generation in 2035,” the Paris-based adviser to 28 nations said in its annual World Energy Outlook report………………………………………..Full Article: Source

Opec says $7.5 trillion investment needed in energy

Posted on 08 November 2013 by VRS  |  Email |Print

Opec upgrades oil demand forecasts on expectation of 380 million new cars on China’s roads by 2035 and says world needs to invest nearly $8 trillion on new energy facilities. Petrol prices are unlikely to fall significantly anytime soon based on the latest long-term projections for the global oil market released by the Organization of Petroleum Exporting Countries (Opec).
The group of 12 major producing nations estimates that meeting increases in world oil demand through to 2035 will require $7.5 trillion (£4.6 trillion) worth of investment into building new infrastructure such as production plants, refineries and pipelines………………………………………..Full Article: Source

Uranium investors, ignore the noise! Fundamentals are compelling

Posted on 04 November 2013 by VRS  |  Email |Print

Over the next decade, we expect uranium demand to grow at about 3% per year (3%/year) with about two-thirds of that incremental buying coming from China, Russia and India. China is building reactors like they’re going out of style—30 units are currently under construction domestically, with 59 in the planning stage — and we’ve just seen China grow its presence internationally with an equity stake in the Hinkley Point power station in the U.K.
Russia is building 10 reactors at the moment. It’s got 28 on the drawing board, according to the World Nuclear Association, and that’s going to more than offset the retirement of some of its aging reactors. Russia is heavily involved in vending reactors globally as well, with projects around the world………………………………………..Full Article: Source

Will demand from China continue moving gold and energy assets?

Posted on 29 October 2013 by VRS  |  Email |Print

Economic growth from China is increasing, which is leading to more demand for commodities ranging from gold to oil to natural gas to coal. China is the biggest consumer of energy in the world. It is the second biggest customer for gold, only behind India. Investors ranging from the Central Bank of the Republic of China (in Taiwan) to individuals buy the yellow metal as an asset.
By the fundamentals of supply and demand, China’s growing economy should move the prices of oil, natural gas, coal and gold higher………………………………………..Full Article: Source

IEA reveals recipe for global wind energy boost

Posted on 23 October 2013 by VRS  |  Email |Print

Wind power could account for almost a fifth of global electricity production by 2050, if the trend for cheaper and more effective turbine technologies continues and economies of scale are fully realised.
That is conclusion of a major new report from the International Energy Agency, which predicts a healthy future for the global wind industry, but warns barriers to deployment such as access to finance, grid connections, and public acceptance still need to be overcome if the technology is to realise its full potential………………………………………..Full Article: Source

Wind may generate 18pct of world electricity in 2050: IEA

Posted on 22 October 2013 by VRS  |  Email |Print

Wind power may multiply more than sixfold to generate as much as 18 percent of the world’s electricity in 2050, the International Energy Agency said, raising an earlier estimate by half.
Spending on new wind farms would need to ramp up to about $150 billion a year from $78 billion last year to achieve the necessary level of installed capacity, the Paris-based IEA said today in a statement on its website. As much as 10 times the current capacity of almost 300 gigawatts is needed, it said………………………………………..Full Article: Source

Energy storage capacity to double worldwide by 2050

Posted on 22 October 2013 by VRS  |  Email |Print

Revolutionary changes in the way energy is produced, stored and consumed world wide will lead to a dramatic increase in capacity addition in storage ,according to a new sustainability research paper by Bank J. Safra Sarasin titled, ‘Electricity Storage-the missing link in the energy revolution’.
The global requirement for storage capacity is likely to almost double by 2050. The development of storage solutions is a key component in the smart grids of the future. The five different storage categories vary in terms of energy volume and discharge time………………………………………..Full Article: Source

IEA: energy efficiency can be the ‘world’s first fuel’

Posted on 18 October 2013 by VRS  |  Email |Print

The size of investment in energy efficiency measures is equal to that in renewable and traditional energy, making it a significant form of fuel, according to the International Energy Association (IEA).
In its new Energy Efficiency Market Report, the organisation notes that investment in energy efficiency rose to $300 billion (£186 billion) in 2011, gaining an important position among the world’s most important fuels………………………………………..Full Article: Source

Much ado about shale gas, but coal is still king

Posted on 16 October 2013 by VRS  |  Email |Print

A boom in US energy production has mades shale natural gas and tight oil the talk of the energy industry. But coal is still the fastest-growing source of energy in the world and is the primary source of fuel for electricity, according to the International Energy Agency.
Two years ago, Saudi Arabia started mulling the prospects of shale natural gas as it faced the possibility of running short on energy supplies. The largest oil exporter in the world said it’s now ready to replicate the shale gas success in the United States and use its own unconventional reserves to keep the lights on………………………………………..Full Article: Source

Coal to surpass oil as top global fuel by 2020: report

Posted on 16 October 2013 by VRS  |  Email |Print

Coal will surpass oil as the key fuel for the global economy by 2020 despite government efforts to reduce carbon emissions, energy consultancy firm Wood Mackenzie said on Monday.
Rising demand in China and India will push coal past oil as the two Asian powerhouses will need to rely on the comparatively cheaper fuel to power their economies. Coal demand in the United States, Europe and the rest of Asia will hold steady………………………………………..Full Article: Source

US energy revolution will end old Opec regime

Posted on 15 October 2013 by VRS  |  Email |Print

Wednesday marks the 40th anniversary of the Arab oil embargo, a turning point for US energy security policy. The embargo was imposed by the Organization of Arab Petroleum Exporting Countries after the Yom Kippur war. Oapec banned oil exports to Israel’s supporters – the US and the Netherlands – tightening the oil markets to lead to a 400 per cent price rise.
It used the promise of oil exports on favourable terms to separate them from Nato partners………………………………………..Full Article: Source

IEA says coal is still the fuel of choice

Posted on 15 October 2013 by VRS  |  Email |Print

Two years ago, Saudi Arabia started mulling the prospects of shale natural gas as it faced the possibility of running short on energy supplies. The largest oil exporter in the world said it’s now ready to replicate the shale gas success in the United States and use its own unconventional reserves to keep the lights on.
The shale boom in the United States has turned the global energy market on its head. The director of the International Energy Agency said, however, coal was still the fuel of choice. The United States is on pace to pass Russia as the leading natural gas producer in the world. In theory at least, it could rival Riyadh in terms of oil production………………………………………..Full Article: Source

‘Dark side’ of nat gas boom, according to Chanos

Posted on 14 October 2013 by VRS  |  Email |Print

The shale natural gas upswing in the U.S. has been well documented, but closely watched short-seller Jim Chanos told CNBC he’s a “glass half-empty kind of guy,” and there’s a downside to boom.
At historically low nat gas prices of around $3.75 per million British thermal units, “some of the levered players are struggling to cover their debt service and their obligations to drill more holes under their leases,” Chanos said on “Squawk Box” on Thursday. A day earlier, energy entrepreneur T. Boone Pickens appeared on the show, saying he’s unlikely in his lifetime to see nat gas back up to $10………………………………………..Full Article: Source

Demand for coal will be driven by China and India

Posted on 14 October 2013 by VRS  |  Email |Print

For most of the past decade, one of the most widely held assumptions in the energy world has been that demand for coal will keep on rising, fuelled by China’s soaring thirst for power as its population leaves the countryside for the cities in large numbers.
International coal prices duly rose and stimulated mining activity across Australia, Indonesia and as far away as Colombia and South Africa. The International Energy Agency (IEA) last year predicted that coal would rival oil as the world’s top source of energy by 2017 if no changes were made to government policies; global coal consumption would be 4.32bn tonnes of oil equivalent by that year, compared with around 4.4bn tonnes of oil equivalent for oil, according to its projections………………………………………..Full Article: Source

Clean energy heads for second successive annual fall

Posted on 14 October 2013 by VRS  |  Email |Print

Global investment in clean energy was $45.9bn in the third quarter of 2013, down 14% on the second quarter of this year and 20% below the number for Q3 2012, according to the latest data on deals and projects compiled by research company Bloomberg New Energy Finance.
The latest figure makes it almost certain that investment in renewable energy and energy-smart technologies such as smart grid, efficiency, storage and electric vehicles will end this year below 2012’s $281bn - a total that was itself 11% down from the record established in 2011………………………………………..Full Article: Source

Forty years after OPEC embargo, U.S. is energy giant

Posted on 11 October 2013 by VRS  |  Email |Print

Forty years ago this month, the Organization of the Petroleum Exporting Countries proclaimed an embargo on oil exports to the U.S. as retaliation for its support of Israel in the Yom Kippur War. It would last only five months, but it haunts U.S. energy policy to this day.
The modern global energy market bears scant resemblance to what existed 40 years ago. Today’s market is far more diversified and resilient. Thanks to the shale gas revolution and soaring domestic oil and gas production, the U.S. has reduced the cost of its energy and become a major exporter of refined products………………………………………..Full Article: Source

Time for governments to end energy subsidies: Wynn

Posted on 11 October 2013 by VRS  |  Email |Print

Governments are failing to deal with rising fossil fuel prices, preferring price caps to win votes and shield industry over efficiency measures which energy agencies say are better value for money.
Energy subsidies have risen year on year since 2008, to $480 billion annually in 2011, according to International Monetary Fund (IMF) figures. That trend will probably continue so long as energy prices continue to rise, and in particular oil………………………………………..Full Article: Source

Cold European winter could create energy crisis, Cap Gemini says

Posted on 10 October 2013 by VRS  |  Email |Print

A cold winter may plunge Europe into an energy crisis because of the over-reliance on renewable energy and the shutting of natural gas-fired generators, Cap Gemini SA (CAP) said in a report.
Gas-fired generators are running at utilization rates that are too low to meet their fixed costs as grids favor subsidized renewable power, the Paris-based management consultancy said today. About 60 percent or 130,000 megawatts of Europe’s gas-generation capacity is at risk of closing by 2016, it said, citing IHS Inc. (IHS) estimates………………………………………..Full Article: Source

Coal remains power generator king through 2035: IEA

Posted on 08 October 2013 by VRS  |  Email |Print

The International Energy Agency tweeted this chart about electricity trends to 2035. Not that surprisingly, it shows renewables and natural gas really taking off, with renewables surpassing natural gas as source of power over the next couple of years. By 2035, renewables will be giving coal a run for the money.
What surprised us, however, was the coal’s durability. It will remain the top fuel for generating electricity for the next 20 years, with growth in coal-fired power in emerging markets outweighing its decline in rich countries, the IEA said………………………………………..Full Article: Source

US energy boom aside, OPEC still matters

Posted on 04 October 2013 by VRS  |  Email |Print

North American oil markets are pulling away from foreign market because of increased domestic production. Still, OPEC producers should still hold a key stake in a changing oil game, according to the International Energy Agency.
The chief economist at the International Energy Agency said the Middle East will remain central to the international oil markets despite gains from North American shale. A slump in production from key North African producer Libya rattled the markets earlier this year, though OPEC’s market report next week should reflect a modest recovery………………………………………..Full Article: Source

Coal to surpass gas in Southeast Asia power boom, IEA says

Posted on 04 October 2013 by VRS  |  Email |Print

Coal will replace natural gas as the dominant fuel for producing electricity in Southeast Asia as the region almost doubles its energy consumption in the next two decades, according to the International Energy Agency.
The 10 members of ASEAN, with energy demand growing at more than twice the global average, will get 49 percent of their power from coal by 2035, up from 31 percent in 2011, the IEA said today in its Southeast Asia Energy Outlook. The share from gas will drop to 28 percent from 44 percent………………………………………..Full Article: Source

Chinese demand for coal is cooling

Posted on 23 September 2013 by VRS  |  Email |Print

China’s appetite for coal, once seemingly unlimited, is starting to wane, and the effects are rippling far from the Middle Kingdom. With the world’s second-largest economy, China in recent years has been driving demand for all sorts of commodities, especially thermal coal, which is used to fuel power plants.
But now economic growth in China is slowing, and rising public anger over air pollution is increasing pressure on utilities running the country’s coal-burning power plants to shift to nuclear power and natural gas………………………………..Full Article: Source

Biomass provides 10 pct of global energy use

Posted on 20 September 2013 by VRS  |  Email |Print

A new report from the International Energy Agency takes a global overview of biomass use in the industrial and transport sectors, identifying leading countries and the top 15 production companies in each sector. The IEA’s Bioenergy Task40 report, “Large Industrial Users of Energy Biomass,” was released in early September.
Currently biomass covers approximately 10 percent of the global energy supply, of which two-thirds is used in developing countries for cooking and heating. In 2009, about 13 percent of biomass use was consumed for heat and power generation, while the industrial sector consumed 15 percent and transportation 4 percent. The global consumption of biofuels in transportation equaled 2 percent of the transport sector total………………………………………Full Article: Source

IEA to unleash 20-year energy data to boost transparency

Posted on 19 September 2013 by VRS  |  Email |Print

The International Energy Agency (IEA) announced Wednesday to activate a comprehensive overhaul of the statistics pages of its website, in the meanwhile, to release more than 20 years of global energy data it has collected.
To “boost transparency and user-friendliness,” it is the first time for IEA to release “more than 20 years” of energy data online “for more than 140 countries and regions worldwide,” said IEA in a statement. The enhancements will give users easy access to the IEA’s wealth of information on fuels, emissions, taxes, prices and more going back to 1990………………………………………..Full Article: Source

New IEA graphics show how the world uses energy

Posted on 19 September 2013 by VRS  |  Email |Print

The International Energy Agency unveiled Wednesday a new look for the statistics pages on its website, and Sankey diagrams of energy production and use are one of the cooler aspects.
(Sankey diagrams are directional flow charts where the width of arrows is proportional to the flow quantity. Its namesake first used one to describe the energy efficiency of a steam engine.) Some of the Sankeys had been available for a while but one can now search for dozens of countries, click on each flow and graph it over time………………………………………..Full Article: Source

It is doom and gloom for seaborne Coal in 2013

Posted on 13 September 2013 by VRS  |  Email |Print

Seaborne coal prices will continue to face bleak prospects this year as AP 12 coal, CaL14 have broken below $90 per metric ton and now trading at $84/metric ton, according to Bank of America Merrill Lynch (BofAML ).
In a new report it said that producing nations are not curtailing production but cutting costs while Colombian exports are likely to rebound as port strike is coming to an end………………………………………..Full Article: Source

China makes cheap coal expensive

Posted on 12 September 2013 by VRS  |  Email |Print

China has long benefited from cheap thermal coal imports from Indonesia. But that may be coming to an end. The Chinese government last week announced it will add a 3% tax to imports of lower-quality lignite coal. The move basically targets Indonesian coal, which accounted for 97% of all Chinese lignite imports through the first seven months of 2013.
It will be interesting to see what effect the new rules–effective as of August 30–have on China’s coal import mix………………………………………..Full Article: Source

Energy factor to push gold price to new highs

Posted on 12 September 2013 by VRS  |  Email |Print

One of the most misunderstood factors that will impact the price of gold is energy. Many analysts forecast the future value of gold relative to the amount of fiat money circulating in the system as well as total government treasury and bond debt. However, the world may not have the available energy supply in the future to satisfy these massive debts.
Gold and silver are monetary metals because they function as a store of “Economic Energy”, a term coined my Mike Maloney. Basically, the precious metals are batteries that store this trade-able energy value………………………………………..Full Article: Source

German energy crisis favours the fleet

Posted on 28 August 2013 by VRS  |  Email |Print

Germany’s half-a-trillion-euro energy overhaul is forcing sector players to turn around their business models fast, giving smaller groups a head start on the country’s ponderous utilities.
Europe’s largest economy has seen its energy sector slide into crisis following its decision to abandon nuclear power by 2022, as a subsidised boom in solar power has dealt a heavy blow to traditional utilities, forcing them to close plants generating thousands of megawatts………………………………………..Full Article: Source

How to convince Wall Street to invest in energy efficiency

Posted on 27 August 2013 by VRS  |  Email |Print

US policymakers have long struggled with the challenge of unlocking cheap capital for energy efficiency projects. Can California make it happen? In the depths of the Great Recession three years ago, California’s chief fiscal officer John Chiang gathered his deputies and posed a question: “Is there any way we can put capital on the ground in California to put people back to work in ways that would make sense for the long term?”
After some debate, they settled on what they called “the holy grail” – energy efficiency. Retrofit projects would employ many of the 100,000 construction workers looking for work and put money into the pockets of the state’s cash-strapped residents. But the policymakers soon hit a snag: they realized that to scale up a statewide program, they would need money – lots of it………………………………………..Full Article: Source

De-politicizing the international energy agency

Posted on 19 August 2013 by VRS  |  Email |Print

While the International Energy Agency (IEA) has some laudable goals, such as promoting energy security and economic development, it needs to be de-politicized away from environmental activism. It also needs to improve the rigor in some of its reporting. The IEA doesn’t come cheap, however, with a 2012 budget of over $35 million funded by its 28 member-states — including the USA.
Some of the IEA’s recommendations are ridiculous. A year ago, it released a report proposing so-called “required” clean energy spending targets in order to avoid catastrophic anthropogenic climate change………………………………………..Full Article: Source

OPEC set to suffer at the hands of Mexico’s energy market reform

Posted on 15 August 2013 by VRS  |  Email |Print

The recent reforms that President Enrique Peña Nieto plans to introduce to Mexico’s energy sector, has the potential to boost the country’s oil output to 1980 levels, whilst at the same time reducing US dependence on OPEC, and creating more stability in the global market.
Mexico was the first country in the world to take full control of its oil industry, and one of the major parts of the new reforms will see state-owned Pemex’s monopoly reversed, allowing, for the first time in more than 50 years, foreign companies to invest in exploration and production ventures in the country………………………………………..Full Article: Source

Coal to remain on top in global energy mix

Posted on 01 August 2013 by VRS  |  Email |Print

Coal will remain the main fuel for electricity generation globally, according to a new report from the IEA Clean Coal Centre. Hermine Nalbandian, senior research scientist, and Nigel Dong, energy strategy researcher, IEA Clean Coal Centre, argue that, although coal’s share of the total electricity generation will fall, the resource will remain the main fuel for electricity generation globally.
In 2010, global consumption of commercial energy totalled 18 billion t of coal equivalent. With a 28% share, coal ranked second after oil as one of the major sources of primary energy and natural gas, at 21%, ranked third. Gross power generation with coal was approximately 41% and gas 22%………………………………………..Full Article: Source

World energy markets leaving EU behind

Posted on 29 July 2013 by VRS  |  Email |Print

The International Monetary Fund said it expects the European economy will remain in recession for 2013 and expand by less than 1 percent next year. That translates to lower demand for oil and natural gas. On strategic issues, EU leaders last week said they were concerned about the ability to defend the bloc’s national interests in the age of austerity.
With demand centers for energy resources shifting to Asian economies, and production gains continuing in North America, the European Union may find itself in desperate need of a revolution on many fronts if it wants to stay relevant in the international community………………………………………..Full Article: Source

Azerbaijan, Russia draw closer over energy ties

Posted on 23 July 2013 by VRS  |  Email |Print

The implosion of the Soviet Union in 1991 produced three petro-states – the Russian Federation, Kazakhstan and Azerbaijan. Of these, Azerbaijan has the longest history, having begun producing petroleum in the late 19th century.
Since the USSR’s demise, Azerbaijan has adroitly developed its energy infrastructure output to the point where the U.S. government’s Energy Information Administration notes simply, “Azerbaijan is an important current and future supplier of both oil and natural gas… Oil and gas development and export are central to Azerbaijan’s economic growth and the country is one of the Caspian region’s most important strategic export openings to the West.”……………………………………….Full Article: Source

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