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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

Is the West turning away from Middle East energy?

Posted on 18 July 2013 by VRS  |  Email |Print

Russian energy company Gazprom said this week it was considering sending a delegation to Algeria to review the prospects for more energy work. The Russian energy giant said it was interested in exploiting the estimated 160 trillion cubic feet of natural gas there.
A report published in May warned that Algerian natural gas production was in decline, however, because aging fields were no longer giving up resources. A lack of foreign investments is hurting the situation even further. Though Gazprom is reviewing its options, a warning from the U.N. Security Council suggests it may be awhile before the region’s state of affairs are in order enough to support any major foreign interest………………………………………..Full Article: Source

IEA favors spot gas pricing

Posted on 18 July 2013 by VRS  |  Email |Print

The International Energy Agency (IEA) came out in favor of the spot gas market Wednesday over contracts that link gas to oil prices, citing Turkey as an example of a successful renegotiation.
Russian gas export monopoly Gazprom clinched a long-term deal last November to export gas to private companies in Turkey, breaking a previous impasse in gas trade following its price dispute with state gas company Botas………………………………………..Full Article: Source

Saudi Arabia aims to be world’s largest renewable energy market

Posted on 18 July 2013 by VRS  |  Email |Print

Saudi Arabia aims to become the world’s foremost market for renewable energy with an aggressive investment budget of $109 billion. By 2032, the country strives to generate as much as a third of the Kingdom’s energy demands using renewable energy (54 GW).
Following the publicity surrounding the country’s major investment drive, King Abdullah City for Atomic and Renewable Energy (KACARE) released a series of documents detailing the revised National Energy Plan. In addition to the 41 GW of solar power, 25 GW of CSP and 16 GW of PV, the Kingdom is aiming to generate 18 GW of nuclear energy, 3 GW of waste to energy, 1 GW of geothermal and an additional 9 GW of wind power, specifically for water desalination plants………………………………………..Full Article: Source

IEA: Global renewable energy expanding fast

Posted on 15 July 2013 by VRS  |  Email |Print

Renewable energy is growing fast around the world and will edge out natural gas as the second biggest source of electricity, after coal, by 2016, according to a five-year outlook published Wednesday by the International Energy Agency (IEA).
Developing countries are building more wind, solar and hydroelectric power plants to meet rising power demand and combat local pollution problems. And the costs of renewables are falling below the cost of traditional power sources such as coal, natural gas and oil in some markets with high-priced power………………………………………..Full Article: Source

It’s time our policies reflect the fact that energy and water are fundamentally intertwined

Posted on 12 July 2013 by VRS  |  Email |Print

When I tell people that the best way to conserve energy is to conserve water, I am often faced with a confused response. I’m not surprised really. Energy and water policies are rarely discussed in the same forum.
For a long time, we’ve overlooked the inextricable relationship between water and energy use. Coal, nuclear and natural gas plants use enormous amounts of steam to create electricity. Producing all of that steam requires 190,000 million gallons of water per day, or 39% of all freshwater withdrawals in the nation………………………………………..Full Article: Source

Wind to double and solar to triple in 6 years, says IEA

Posted on 11 July 2013 by VRS  |  Email |Print

The headline summary of the new Medium-Term Renewable Energy Market Report 2013 from the International Energy Agency (IEA) has been well reported: Renewables will surpass natural gas for electricity generation globally by 2016, doubling nuclear output and coming in second only to coal in power generation.
Total renewable capacity is expected to grow from 1,580 gigawatts in 2012 to 2,350 GW in 2018, while renewable electricity generation grows from 4,860 terawatt-hours to 6,850 terawatt-hours. Renewable generation will be 50 percent greater over the six-year forecast period than it was over the six years from 2006 to 2012………………………………………..Full Article: Source

Can Germany afford its ‘energy bender’ shift to green power?

Posted on 10 July 2013 by VRS  |  Email |Print

Germany’s rapid transition to renewable energy is said to be the country’s biggest and most expensive project since the fall of the Berlin wall - but with rising costs for consumers and industry, will this great energy experiment succeed?
The powerful whiff of farmyard manure can’t dim the smiles on people’s faces in the German village of Juehnde. Located in the heart of the country, this rural community is home to Germany’s first energy co-operative that started in 2005. The co-op generates electricity from solar panels and from a biogas plant that mixes locally grown grain and locally sourced farm waste………………………………………..Full Article: Source

Solar power to be main energy source by 2017

Posted on 04 July 2013 by VRS  |  Email |Print

Gulf countries are increasingly turning their focus toward clean renewable sources of energy for their power generation, with solar energy set to emerge as one of the region’s main sources of energy by 2017. Already solar power installation projects worth approximately $ 155 billion are in the pipeline with capabilities to generate more than 84 GW of power.
The Gulf countries will be addressing some of the main challenges related to the deployment of energy projects in desert terrain at a high-level industry summit in Dubai later this year………………………………………..Full Article: Source

U.S. is not waging ‘war on coal’: Energy secretary Moniz

Posted on 01 July 2013 by VRS  |  Email |Print

The U.S. government is not waging a “war on coal” but rather expects it to still play a significant role, U.S. Energy Secretary Ernest Moniz said on Sunday, rejecting criticism of President Barack Obama’s climate change plan.
Obama tried last week to revive his stalled climate change agenda, promising new rules to cut carbon emissions from U.S. power plants and other domestic actions including support for renewable energy………………………………….Full Article: Source

Second wind: Renewable energy down but not out

Posted on 01 July 2013 by VRS  |  Email |Print

This week, two events occurred that could point to a new second wind for the battered alternative energy sector—which has been on its heels for much of the last couple years. First, President Obama unveiled a broad swath of measures to combat carbon emissions, including new funding for clean energy technology and setting a goal to double the amount of electricity generated by wind and solar.
Second, the International Energy Agency (IEA) released a report forecasting that renewable energy—wind, solar, biofuels and the like—will eclipse natural gas and nuclear as a source of electricity by 2016………………………………….Full Article: Source

Clean energy to run past nuclear, gas by 2016: IEA

Posted on 27 June 2013 by VRS  |  Email |Print

Renewable power will eclipse natural gas and nuclear as a source of electricity by 2016, with the sector expected to surge by 40 percent in the next five years, the International Energy Agency said Wednesday.
Even as governments curtail public subsidies and tax credits for hydro, wind and solar projects, the IEA study cited renewables as “the fastest-growing power-generation sector” and said it expects them to comprise a quarter of the world’s power mix by 2018………………………………………..Full Article: Source

Renewable energy use gaining worldwide:IEA

Posted on 27 June 2013 by VRS  |  Email |Print

Renewables like solar and wind power represent the fastest-growing source of energy generation and will make up a quarter of the global power mix by 2018, the International Energy Agency IEA says.
The IEA said that in 2016 renewable energy will overtake natural gas as a power source and will be twice that of nuclear, and second only to coal as a source of power. The growth of renewables has been bolstered by increased competitiveness with conventional energy………………………………………..Full Article: Source

Coal industry, target of Obama rules, expands exports

Posted on 26 June 2013 by VRS  |  Email |Print

While President Obama aims to crack down on coal-fired power plants, the coal industry finds lucrative and booming markets abroad, even in developed countries such as Germany and Japan.
The U.S. coal industry, under increasing pressure at home after President Obama’s call Tuesday for tougher anti-pollution rules, is ratcheting up a more promising part of its business: exports………………………………………..Full Article: Source

Gas in the ‘Golden Age’, says IEA, but cuts forecast

Posted on 21 June 2013 by VRS  |  Email |Print

The International Energy Agency said yesterday that natural gas was enjoying “a golden age” even if the growth in output over the next five years will be a lower-than-expected 2.4% instead of 2.7% forecast earlier.
The IEA’s Medium-Term Gas Market Report pointed out that shale discoveries in North America and China’s attempts to ease its reliance on polluting coal were boosting the relatively clean energy resource’s prospects………………………………………..Full Article: Source

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World Energy Council seeks level playing field in tariffs

Posted on 21 June 2013 by VRS  |  Email |Print

So as to attain a sustainable energy future, captains of energy industry and government officials will converge at the World Energy Congress taking place in Daegu, South Korea, from 13 to 17 October 2013. Raising some of the key issues of tariffs and subsidies by the countries, World Energy Council has called for a transformation to move to better and new technologies.
“Countries and regions need to recognise that we will all benefit from a level playing field in respect of tariffs and subsidies which will reduce the massive cost involved in this transformation and the take-up of the much needed new technologies to encourage a more diversified energy mix,” commented Christoph Frei, Secretary General of the World Energy Council………………………………………..Full Article: Source

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IEA deputy head: China to remain leader in global demand for energy

Posted on 20 June 2013 by VRS  |  Email |Print

China will remain the main leader in the global demand for energy resources in the coming years, deputy executive director of the International Energy Agency (IEA) Richard Jones said.
“We expect the rate of increasing demand for hydrocarbons to slow in the coming years,” Jones said at the third International Oil and Gas Conference ‘The Caspian Sea shelf development’ in Atyrau today. “However, China will still be the main leader in the global demand for energy resources. We expect its demand for energy resources will reach 12 million barrels per day in the coming years.”……………………………………….Full Article: Source

China’s waning coal era

Posted on 19 June 2013 by VRS  |  Email |Print

A recent report in the People’s Daily that Beijing city will eliminate all large scale coal boilers within the city center by 2015 is another sign of the shifting winds in global commodity and asset markets. The move is certainly a self-interested one on the part of China’s new leaders, who breathe the same filthy air as the proletariat when they leave the carefully filtered confines of their private compound in Zhongnanhai.
But the broader message is clear. As we argued in a previous comment on Commodities: This is Structural, the age of coal-powered and heavy industrial led growth in China is over. Slower, less electricity intensive, and cleaner growth is bad news for bulk commodity producers and shipping stocks. But the winners will also be many………………………………………..Full Article: Source

America enjoys oil rush as world switches to other energy sources

Posted on 17 June 2013 by VRS  |  Email |Print

The peak oil theory, which states that we have passed the moment of maximum global oil production, was described 40 years ago by Marion Hubbert, a former Royal Dutch Shell geophysicist. However, once again, human innovation has saved the day.
Unconventional oil, such as the Canadian oil sands, shale oil deposits in North Dakota and Texas and deepwater drilling in Africa and South America have helped to bolster global energy supplies……………………………………..Full Article: Source

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