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Global energy demand undergoing rapid change

Posted on 04 April 2013 by VRS  |  Email |Print

The world’s energy demand is growing with increasing population and rapid development in emerging markets. Today, about 1.1 billion people in the developed world consume 110 million barrels of oil equivalent per day (boe/d) in primary energy.
The developing world’s 5.8 billion people consume 140 million boe/d. What this means is that if the developing world were to consume primary energy even at the level of the EU (the most efficient energy users in the developed world), the planet would need a further 270 million boe/d to meet demand. This is more than double the current primary energy consumption………………………………………..Full Article: Source

BRIC’s rising energy superpower – Brazil

Posted on 02 April 2013 by VRS  |  Email |Print

The BRIC (Brazil, the Russian Federation, India and China) is an interesting political and economic conglomeration. Currently, only the Russian Federation is a major oil exporter, while the ongoing prosperity of both China and India depends on continued access to reliable sources of oil and natural gas imports.
The BRIC acronym is sometimes expanded to BRICS to include South Africa, another energy deficient state, with all five states recently hosting a summit in Durban, South Africa………………………………………..Full Article: Source

Asian LNG demand uncertain, says IEA analyst

Posted on 02 April 2013 by VRS  |  Email |Print

The market for liquefied natural gas (LNG) in Asia faces uncertainty on a number of fronts, even as gas projects worldwide are seeking customers there, International Energy Agency (IEA) analyst Anne-Sophie Corbeau told Canada’s Financial Post this week.
Among the questions regarding demand from Asia are whether Japan will return to heavy use of nuclear power and how successfully shale gas can be developed in China………………………………………..Full Article: Source

The IMF vs. energy subsidies

Posted on 02 April 2013 by VRS  |  Email |Print

The IMF jumps into the climate change debate with a headline-grabbing carbon tax proposal; Dr John Abrahams talks to us about climate change realities; the idea of the self-driving car gains traction; Shell announces $1 billion annual spending plan on Chinese shale; and a sneak preview of this week’s premium offerings…
The International Monetary Fund (IMF) is against government energy subsidies. This certainly shouldn’t come as any surprise for this austerity institution, but its latest report is gaining a decent amount of traction in the media because it’s the first time the IMF has seriously jumped into the climate change theater. It calls for an end to energy subsidies across the board (about $1.9 trillion annually around the world) or for these subsidies to be offset with taxes that could pay for expensive social programs………………………………………..Full Article: Source

Are coal producers doing an OPEC?

Posted on 02 April 2013 by VRS  |  Email |Print

The coal exporters – Australia, South Africa, Indonesia and Mosambique – have come out with regulations in the past few months that make the price of the fuel coming from these nations at similar levels.
On one side, the mineral-rich countries are becoming more conservative of taking away revenues generated from their land overseas. Other, they are making sure they sell at premium, even though prices have seen a downward rally recently. This make the buyers such as India wonder are the coal producers also forming an OPEC-like cartel………………………………………..Full Article: Source

IEA expects global natural gas revolution

Posted on 26 March 2013 by VRS  |  Email |Print

Natural gas is positioned to make a sustained impact on the global energy market but only if it’s developed responsibly, the IEA executive director said.
The International Energy Agency hosted its inaugural unconventional natural gas forum in Paris. IEA Executive Director Maria Van der Hoeven said unconventional natural gas development needs a sustainable and responsible approach………………………………………..Full Article: Source

Energy from politics?

Posted on 26 March 2013 by VRS  |  Email |Print

From a president who seems to think energy comes from politics, yet another innovation emerged Mar. 15 in a speech at the Argonne National Laboratory in Lemont, Ill. “The only way to really break this cycle of spiking gas prices,” said President Barack Obama, “the only way to break that cycle for good is to shift our cars entirely—our cars and trucks—off oil.”
Like so many of Obama’s proposals for energy, this one is vacuous. If the demonstrated ability of the price of a major oil product to spike justified policies aimed at ending oil consumption, the same argument logically should apply to other commodities. Guess what: Prices of commodities other than oil spike, too………………………………………..Full Article: Source

LNG the next ‘boom’

Posted on 21 March 2013 by VRS  |  Email |Print

Liquefied natural gas (LNG) looks set to become our most important export over the next five years, as the resources boom slowly deflates, and several LNG projects come online.
According to the Bureau of Resources and Energy Economics (BREE), earnings from mineral commodities are now expected to peak in 2014-15 due to declining commodity prices, particularly iron ore, which will be offset by increased volumes………………………………………..Full Article: Source

Why oil-rich countries are investing in solar

Posted on 20 March 2013 by VRS  |  Email |Print

This week, the world’s largest concentrated solar planet went into operation. Shams 1 is a massive 100-megawatt power plant in Abu Dhabi with some impressive numbers. The $750 million project produces enough energy to power 20,000 homes and stretches across an area of desert, west of the United Arab Emirates capital, the size of 285 football fields.
“With the demand for energy rising exponentially, the region is undergoing a major transformation in how it generates electricity,” said Sultan Al Jaber, CEO of Masdar, the state-owned company behind the power plant. “In fact, the Middle East is poised for major investments in renewable energy, and Shams 1 proves the economic and environmental advantage of deploying large-scale solar projects.”……………………………………….Full Article: Source

IEA sees a slow growth in Venezuelan oil capacity even in a post-Chavez world

Posted on 15 March 2013 by VRS  |  Email |Print

The International Energy Agency marked the passing of Venezuela’s President Hugo Chavez by adding its voice to a wealth of editorials pointing to a neglected oil industry which has sapped the country’s output and capacity.
In its latest monthly oil market report, the IEA warns of a “further degradation” of the state oil company PDVSA should Chavez’s policies live on under his hand-picked successor Nicolas Maduro. The IEA also predicted that the country’s net capacity will increase less than 8% over the next five years………………………………….Full Article: Source

Global energy demand set to increase by 33pct

Posted on 11 March 2013 by VRS  |  Email |Print

Global energy use is set to expand by 33 percent between 2011 and 2035 with an average growth rate of 1.3 percent per annum, said Sheikh Ahmed bin Mohammed Al Khalifa, Minister of Finance, Minister in Charge of Oil and Gas Affairs, Bahrain.
Sheikh Ahmed, who opened the four-day 18th Middle East Oil and Gas Show and Conference 2013 (MEOS 2013) Sunday (March 10), said that the retreat from nuclear energy in some countries, in the aftermath of the Fukushima incident, led to a rebalancing of the energy mix towards fossil fuels………………………………………..Full Article: Source

OPEC failing to make energy transitions

Posted on 05 March 2013 by VRS  |  Email |Print

A new report by countries by the World Economic Forum has criticized the OPEC-member countries of failing to adjust to the changing energy architectures and renewable energy sources.
None of the member countries have made it to the top 50 list of the energy report, which focuses on the strengths and weaknesses of countries’ energy systems. Titled ‘The Global Energy Architecture Performance Index 2013‘, the report has been compiled in partnership with Accenture and ranks the top high-income countries in the world for adapting to the upcoming energy systems………………………………………..Full Article: Source

What coal CEOs are saying entering 2013

Posted on 05 March 2013 by VRS  |  Email |Print

Coal has been beaten up in the media and the markets over the past year or so. Being outspoken against coal has been made easy by cheaper, cleaner-burning natural gas, which has been produced in abundance here in the United States recently.
To tackle reductions in both demand and price, coal companies in the U.S. were forced to curtail production and capital spending in preparation for future production. Entering 2013, could the coal market finally have found a trough? To help answer that question, I turned to the conference calls of some of the biggest players in the business to see what their CEO’s had to say………………………………………..Full Article: Source

Let the market decide our energy sources

Posted on 04 March 2013 by VRS  |  Email |Print

For the past 40 years, since the Arab oil embargo of 1973, Opec has conspired to set the global price of oil. The rest of the world has simply observed this staggering restraint of trade and done nothing.
If western oil companies tried to do what Opec does, they would be prosecuted within hours. The producers’ cartel, however, can get away with it because its members own 78 per cent of the world’s oil reserves and lie beyond our courts………………………………………..Full Article: Source

A fund managers guide to winning in the energy markets in 2013

Posted on 21 February 2013 by VRS  |  Email |Print

Times may be tough for energy commodities, but Encompass Fund Managers Malcolm Gissen and Marshall Berol are hard-core survivors. In this interview with The Energy Report, the dynamic duo share their tactics for winning in 2013 after decades of experience investing in uranium, oil and gas, coal, hydroelectric and geothermal energy.
There are more than 1,200 ETFs on the market. They can be worthwhile, but Wall Street is slicing and dicing sectors and industries into really thin tranches to create somewhat non-transparent indexes. ETFs are not per se better than mutual funds or individual stocks. Investors must look under the hood of any ETF to see if it is investing in stocks, futures contracts or bullion. With that said, we do look at ETFs and have commodity ETFs in our separately managed accounts……………………………………Full Article: Source

Coal still king, at least outside the OECD.

Posted on 18 February 2013 by VRS  |  Email |Print

Coal’s share of the global energy mix continues to rise, and by 2017 coal will come close to surpassing oil as the world’s top energy source, the International Energy Agency concludes in its latest annual Medium-Term Coal Market Report (MCMR), covering the period 2012-2017.
Although the growth rate of coal slows from the breakneck pace of the last decade, global coal consumption by 2017 is estimated to be some 4.32 billion tonnes of oil equivalent (btoe), versus around 4.4 btoe for oil, based on IEA medium-term projections. The IEA expects that coal demand will increase in every region of the world except in the United States, where coal is being pushed out by natural gas………………………………………..Full Article: Source

Oil in China: Smog and mirrors

Posted on 15 February 2013 by VRS  |  Email |Print

Fu Chengyu has global ambitions. In 2005 he led CNOOC, a state-run Chinese energy giant, to make an audacious takeover bid for Unocal, an American oil-and-gas firm. That provoked a protectionist backlash, and CNOOC retreated. (It has since won approval to buy Nexen, a Canadian energy firm.)
In 2011 Mr Fu took over as boss of China Petroleum & Chemical Corp (Sinopec), another state-run outfit. He has tried to transform the domestically focused firm into an international oil giant………………………………………..Full Article: Source

EU should seek 100 percent green energy by 2050: WWF

Posted on 14 February 2013 by VRS  |  Email |Print

One-hundred percent green energy for the European Union is realistic by the middle of the century provided the bloc signs up to ambitious energy policy goals for 2030, conservation body WWF said in a report on Thursday.
Debate has begun in Brussels on targets for 2030 to replace the existing set of 2020 goals, which are to cut carbon emissions by 20 percent from 1990 levels, improve energy savings by 20 percent compared with projected use, and increase the share of renewables in the energy mix to 20 percent………………………………………..Full Article: Source

Energy risk commodity rankings 2013 – energy

Posted on 14 February 2013 by VRS  |  Email |Print

Muted volatility, sluggish trading activity and regulatory changes have conspired to create a tough environment for energy market participants over the past year. That has fuelled a lot of movement in this year’s Risk and Energy Risk Commodity Rankings, with some banks seeing their fortunes fall significantly.
Many investment banks in the energy derivatives market are likely to look on the past year as something of an annus horribilis. Continuing sluggishness in the global economy and low volatility in energy markets generated lacklustre trading opportunities, while a wave of new regulation affecting banking, derivatives and energy markets is also making life difficult for market participants………………………………………..Full Article: Source

New era in global energy and commodity trading

Posted on 12 February 2013 by VRS  |  Email |Print

The traders’ role in energy and commodities trading is changing rapidly, while physical trading has entered a new era of sophistication and scale. In a newly released and first-time study, Deloitte in Switzerland, the business advisory firm, has analysed the current issues and trends of one of the most important global and Swiss trading sectors.
Changing global economic conditions are giving rise to exciting new opportunities – and challenges – in energy and commodities trading. International trading houses are, whether in oil, metals or soft commodities, extending their reach and scope. In the study entitled “Trading Up – A look at some current issues facing energy and commodities traders“, Deloitte Switzerland presents its view on current issues and challenges facing energy and commodity trading………………………………………..Full Article: Source

Wind power capacity grew 20pct globally in 2012, figures show

Posted on 12 February 2013 by VRS  |  Email |Print

A relative slowdown in new wind turbine construction in China was offset by increases in the US, Germany, India and the UK. Wind power expanded by almost 20% in 2012 around the world to reach a new peak of 282 gigawatts (GW) of total installed capacity, while solar power reached more than 100GW, having more than doubled in two years.
More than 45GW of new wind turbines arrived in 2012, with China and the US leading the way with 13GW each, while Germany, India and the UK were next with about 2GW apiece………………………………………..Full Article: Source

Renewables will shift the global superpowers

Posted on 11 February 2013 by VRS  |  Email |Print

The world’s superpowers have traditionally relied on those countries rich in energy. But as the world moves to renewables, who will emerge as the new leading nations? “[O]ur oil addition is not just changing the climate system; it is also changing the international system… First, and most important, through our energy purchases we are helping to strengthen the most intolerant, antimodern, anti-Western, anti-women’s rights, and antipluralistic strain of Islam - the strain propagated by Saudi Arabia.
“Second, our oil addition is helping to finance a reversal of the democratic trends in Russia, Latin American, and elsewhere that were set in motion by the fall of the Berlin Wall and the end of Communism…I call this phenomenon ‘the First Law of Petropolitics’: As the price of oil goes up, the pace of freedom goes down…”……………………………………….Full Article: Source

World thirst for energy

Posted on 07 February 2013 by VRS  |  Email |Print

As the global economy slowly recovers from the 2008 financial crisis, indicators point to a significant mid- and long-term rise in energy consumption, specifically in oil and natural gas. Despite recent developments in renewable energy resources and the increasing production of hydrocarbon from shale reserves, it looks likely that both consumption and prices will climb higher over the coming decades.
The International Energy Agency (IEA) in Paris, in its annual review for 2013, reported that, despite energy efficiency regulations by developed countries, global consumption rates are on the rise………………………………………..Full Article: Source

China accounts for nearly half global coal consumption

Posted on 31 January 2013 by VRS  |  Email |Print

According to new U.S. Energy Information Administration data, China burns nearly as much coal as the rest of the world combined. Coal consumption grew in the country for the 12th year in a row in 2011 and accounted for 87 percent of the 374 million ton global increase in coal use in 2011.
China overtook the U.S. as the world’s biggest carbon emitter in 2007, and became the world’s biggest consumer of energy in 2010. David Frum noted that the statistics make greenhouse gas emission restraint goals posited by the Kyoto Protocol look “obsolete.”……………………………………….Full Article: Source

Water demand for energy to double by 2035

Posted on 31 January 2013 by VRS  |  Email |Print

The amount of fresh water consumed for world energy production is on track to double within the next 25 years, the International Energy Agency (IEA) projects. And even though fracking—high-pressure hydraulic fracturing of underground rock formations for natural gas and oil—might grab headlines, IEA sees its future impact as relatively small.
By far the largest strain on future water resources from the energy system, according to IEA’s forecast, would be due to two lesser noted, but profound trends in the energy world: soaring coal-fired electricity, and the ramping up of biofuel production………………………………………..Full Article: Source

China now burning as much coal as the rest of the world combined

Posted on 30 January 2013 by VRS  |  Email |Print

China’s coal use grew 9 percent in 2011, rising to 3.8 billion tons. At this point, the country is burning nearly as much coal as the rest of the world combined.
Coal, of course, is the world’s premier fossil fuel, a low-cost source of electricity that kicks a lot of carbon-dioxide up into the atmosphere. And China’s growing appetite is a big reason why global greenhouse-gas emissions have soared in recent years, even as the United States and Europe have managed to curtail their coal use and cut their carbon pollution………………………………………..Full Article: Source

Will “Saudi America” become a reality?

Posted on 29 January 2013 by VRS  |  Email |Print

U.S. energy independence has been a dream since the oil embargoes of the 1970s. But this vision of a “Saudi America” has always been just a dream. Investors and non-investors alike started talking in earnest about realizing that dream last November. That was after the International Energy Agency’s (IEA) latest World Energy Outlook said that the U.S. would overtake both Saudi Arabia and Russia in oil output by the second half of this decade.
Its forecast calls for the United States to be producing 11.1 million barrels a day in 2020 compared to Saudi Arabia’s 10.6 million barrels a day. The IEA’s Outlook went on to say that by 2035 the United States could be almost self-sufficient in energy, and talks about “Saudi America” began to surface………………………………………..Full Article: Source

Why coal isn’t going anywhere

Posted on 25 January 2013 by VRS  |  Email |Print

The coal industry has taken a beating in recent years. The discovery of natural gas in the U.S. has reduced the role of coal in the electric power industry: In 2012, the demand for coal has declined and coal companies, such as Arch Coal, have suffered from this drop in consumption. So, is it time to count out coal? I think this sentiment is premature.
During 2012, the consumption of coal in electric power industry declined compared to previous years: in the first nine months of 2012, total consumption reached 615 million short tons; during the same time in 2011, consumption reached 722 million short tons………………………………………..Full Article: Source

Why IEA’s optimism doesn’t make sense

Posted on 24 January 2013 by VRS  |  Email |Print

The International Energy Agency, or IEA, is predicting a growth in global oil demand in 2013, a growth led by a resurgent Chinese economy. The Paris-based intergovernmental agency predicts that average world oil demand this year will shoot up by 930,000 barrels per day from 2012 levels.
The market’s immediate response wasn’t surprising. As expected, global crude oil prices inched higher, and the West Texas Intermediate futures hit a 17-week high. The IEA now forecasts global demand to average 90.8 million barrels per day in 2013………………………………………..Full Article: Source

Will coal surpass oil as the world’s top energy source?

Posted on 24 January 2013 by VRS  |  Email |Print

According to a recent report from the International Energy Agency (IEA), demand for energy has been increasing steadily since 2000, and coal supplies account for nearly half of the incremental primary energy supply globally. Coal demand grew 4.3 percent in 2011 alone and is unlikely to decrease in the foreseeable future.
“Coal’s share of the global energy mix continues to grow each year, and if no changes are made to current policies, coal will catch oil within a decade,” Maria van der Hoeven, IEA executive director, said………………………………………..Full Article: Source

China leads faster global energy efficiency gains-BP

Posted on 17 January 2013 by VRS  |  Email |Print

Accelerating global energy efficiency means fuel use is rising far slower than prosperity, largely because Chinese industrial development is increasingly energy efficient, a study by oil company BP Plc found.
In its annual Outlook 2030 report, BP predicts a 36 percent increase in energy use between 2011 and 2030. That outstrips forecast population growth of 18.5 percent to 8.3 billion but comes as world income is expected to roughly double in real terms………………………………………..Full Article: Source

Clean energy investment fell 11pct in 2012

Posted on 15 January 2013 by VRS  |  Email |Print

Investment in clean energy projects dipped 11 per cent last year, according to new figures from Bloomberg New Energy Finance (BNEF), which confirmed the $268.7bn invested still made 2012 the second most successful year on record for the global clean energy sector.
The analyst firm also revealed the rapid expansion of China’s clean energy market continued last year, with investment rising 20 per cent to $67.7bn, allowing China to re-take the top spot from the US………………………………………..Full Article: Source

Coal fortunes are on the rise

Posted on 14 January 2013 by VRS  |  Email |Print

While oil and gas producers were busy watching for the evolution of prices and supply and demand fundamentals for their commodities, coal fortunes have been on the rise and are likely to continue so. This is contrary to expectation due to the complex environmental problems of burning coal and the usually higher investment required for its use.
Between 1965 and 1972 world coal consumption rose by hardly 6 per cent while oil and gas consumption rose by almost 70 per cent each. The world seemed to be getting out of coal………………………………………..Full Article: Source

IEA: Energy policies can strengthen Middle East economy

Posted on 11 January 2013 by VRS  |  Email |Print

Energy policies can strengthen economies of the Middle East and North Africa and help the regions make the best use of fossil fuels and renewable resources.
That’s the view of the International Energy Agency (IEA), which is offering its “experience and knowledge” to help the regions tap energy efficiency and renewable energy for economic and political change………………………………………..Full Article: Source

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UAE OPEC governor: Little room for large increase in energy Demand In 2013

Posted on 10 January 2013 by VRS  |  Email |Print

Moderate and slow recovery of the global economy will only allow for a modest increase in energy demand this year, the United Arab Emirates’ governor for the Organization of the Petroleum Exporting Countries said Wednesday.
“This modest economic growth will continue and will provide a little room for large increase in demand for energy. This year, the global oil market is expected to grow by just 800,000 barrels per day,” Ali Obaid al-Yabhouni said in a speech in Abu Dhabi. “The global demand is expected to grow by just 900,000 barrels per day….mainly from non-OECD countries,” he said………………………………………..Full Article: Source

US to become ‘net energy exporter’

Posted on 08 January 2013 by VRS  |  Email |Print

Some industry veterans believe it’s the biggest development in the energy game since 1859, when the first US oil well gushed from beneath the earth in Titusville, Pennsylvania.
In changes that would have been unthinkable just five years ago, the US is set to become a net energy exporter in the next few years, thanks to the controversial process of fracking that is re-wiring geopolitics and the world of energy………………………………………..Full Article: Source

5 biofuel trends to watch out for in 2013

Posted on 08 January 2013 by VRS  |  Email |Print

Despite a relatively down year with respect to investment and production capacity expansion, the biofuels industry grew modestly in 2012, continuing a shift from first generation facilities to next generation, advanced biorefineries.
Although it was a year of challenges for corn starch ethanol production in particular, the industry proved its mettle against persistent drought across the U.S. Midwest that led the UN to call for a scale back of biofuel production mandates……………………………………….Full Article: Source

Coal to overtake oil by 2017: IEA

Posted on 08 January 2013 by VRS  |  Email |Print

More than 8,000 jobs have been stripped from Australia’s coal sector in the past 6 months and heading into 2013 the industry continues to feel the pressure. Australian coal companies are struggling to compete on the global stage, facing increasing competition from the United States, a drop in coal prices, a high Aussie dollar and rising operation costs.
However, some are hoping that India’s crippling energy problems and hunger for coal will bring Australia’s coal industry out of these dark days………………………………………..Full Article: Source

Coal in the rich world: The mixed fortunes of a fuel

Posted on 07 January 2013 by VRS  |  Email |Print

Why is the world’s most harmful fossil fuel being burned less in America and more in Europe? In a high-tech world, dirty black lumps of coal might seem like an anachronism. Yet coal is far from a thing of the past. However whizzy your iPad, your wall-mounted television or your electric car, the chances are that it is powered by the stuff. Coal-fired power stations provide two-fifths of the world’s electricity, and there are ever more of them.
In the doubling of the world’s electricity production over the past decade, two-thirds of the increase came from coal. At these rates, coal will vie with oil as the world’s largest source of primary energy within five years. As recently as 2001, it was not much more than half as important as oil……………………………………….Full Article: Source

No country today can fully be energy independent

Posted on 03 January 2013 by VRS  |  Email |Print

In OPEC’s recent World Oil Outlook, published in November 2012, over the period 2010-2035 primary energy demand in the reference case increases by 54 per cent. In terms of oil, demand increases by over 20 mbd for the period 2010-2035, reaching 107.3 mbd by 2035. The region of developing Asia is expected to contribute 87 per cent of this increase.
Allow me to highlight a few other numbers from the World Oil Outlook. In terms of the Middle East and the Asia Pacific regions, crude oil exports from the former to the latter are expected to increase by six mbd between 2011 and 2035………………………………………..Full Article: Source

Warren Buffett to build world’s largest solar energy project

Posted on 03 January 2013 by VRS  |  Email |Print

Billionaire US investor Warren Buffett is taking a $2.5bn (£1.5bn) bet on solar energy, acquiring what is set to become the largest photovoltaic development in the world. MidAmerican Energy Holdings, a subsidiary of Mr Buffett’s Berkshire Hathaway investment company, has struck a deal with SunPower to acquire and build two projects in California’s Antelope Valley.
The deal, which will see MidAmerican pay between $2bn to $2.5bn, marks the third time in little over a year that Mr Buffett has ploughed cash into solar energy………………………………………..Full Article: Source

As cold weather arrives, is natural gas poised to pop?

Posted on 03 January 2013 by VRS  |  Email |Print

After last year’s warm winter, here are 3 ways to take advantage of a chillier season. This past year was dominated by inclement weather that left United States Natural Gas Fund reeling; natural gas futures have been all across the board.
Despite making an impressive 70% run during the summer, this commodity still managed to end the year with losses topping 20%. With this past year set to be one of the warmest (if not the warmest) in U.S. history, it should come as no surprise to see the commodity struggle, as the winter months are key for demand and consumption………………………………………..Full Article: Source

2013: Energy issues on front burner

Posted on 02 January 2013 by VRS  |  Email |Print

After a year of tumultuous weather and global change, it should not be surprising that 2012 proved to be a transformative period for public opinion on energy.
Changing attitudes on the most hotly debated topics matter a great deal because they set the course for future policy decisions. Taking a closer look at trends over the past 12 months hints at what to expect in several key areas of the U.S. energy landscape in 2013………………………………………..Full Article: Source

Five unlikely energy surprises for 2013

Posted on 02 January 2013 by VRS  |  Email |Print

Many people trot out their predictions for the coming year right about now. I’m generally allergic to predictions and think rather in terms of probabilities. Naturally, the world we live in is far too complicated to yield anything approaching certainty concerning such matters as the future price and supply of energy, future economic conditions, and future political developments. In the end, the future is simply unknowable.
So, I’ve tried to think of some developments which conventional wisdom has judged rather unlikely and which would therefore significantly alter our lives and perceptions should they occur–precisely because we are not prepared for them………………………………………..Full Article: Source

Energy predictions for 2013

Posted on 02 January 2013 by VRS  |  Email |Print

The nation’s energy boom shows no signs of slowing in 2013, and that’s great news for consumers, job-seekers and most businesses. Residential electricity costs will fall 2.2 percent next year after adjusting for inflation, predicts the Energy Information Administration. Already low natural gas prices for consumers will be flat, the EIA forecasts.
Gasoline prices will drop more than 5 percent this year and rise less than inflation for the next decade, the EIA estimates. Perhaps the angst of $5-a-gallon gasoline will have to wait………………………………………..Full Article: Source

IEA coal report predicts Australia will again be world’s top exporter

Posted on 20 December 2012 by VRS  |  Email |Print

According to the International Energy Agency’s (IEA) annual Medium-Term Coal Market Report 2012 coal will rival oil as the world’s top energy source by 2017.
Although the growth rate of coal usage will slow from the “breakneck” pace of the last decade, the IEA forecasts global consumption in 2017 at 4.32 billion metric tons of oil equivalent (BTOE). The projection for oil is 4.40 BTOE………………………………………..Full Article: Source

EU puts EUR1.2bln into pilot renewable energy projects

Posted on 19 December 2012 by VRS  |  Email |Print

The European Commission announced yesterday that it was putting ¤1.2bn ($1.56bn) into renewable energy demonstration projects but had found no carbon capture ventures to back.
EU Climate Change Commissioner Connie Hedegaard said the funding came in part from the EU’s carbon trading system, so that in effect polluters were paying, while the private sector would provide another ¤2bn investment. “This will help the EU keep its front-runner position on renewables and create jobs here and now, in the EU,” Hedegaard said………………………………………..Full Article: Source

Coal to challenge oil’s dominance by 2017, says IEA

Posted on 19 December 2012 by VRS  |  Email |Print

Agency predicts further rise in coal use due to fall in price and failing EU emissions trading scheme, threatening green targets. Coal is likely to rival oil as the world’s biggest source of energy in the next five years, with potentially disastrous consequences for the climate, according to the world’s leading authority on energy economics.
One of the biggest factors behind the rise in coal use has been the massive increase in the use of shale gas in the US………………………………………..Full Article: Source

IEA warns coal on track to be world’s chief energy source

Posted on 19 December 2012 by VRS  |  Email |Print

Coal will nearly overtake oil as the dominant energy source by 2017, and only a drop in world gas prices could curb the use of the dirtier fossil fuel in the absence of high carbon prices, the International Energy Agency said.
China will use more coal than the rest of the world put together, while India will overtake the United States as the world’s second-largest consumer and become the biggest global importer, the IEA forecast in its annual Medium-Term Coal Market Report, released on Tuesday………………………………………..Full Article: Source

Coal to approach oil as top energy source by 2017, IEA says

Posted on 19 December 2012 by VRS  |  Email |Print

Global coal demand will rise 2.6 percent annually in the next six years and challenge oil as the top energy source, according to the International Energy Agency.
Coal consumption will climb to 4.32 billion tons of oil equivalent by 2017, compared with about 4.4 billion for oil, the Paris-based agency said today in its first Medium-Term Coal Market Report. Usage will rise in all regions except the U.S., where cheap natural gas has damped demand, the IEA said………………………………………..Full Article: Source

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