The future of OPEC: it won’t die, but it will become a different animal

OPEC meeting in Algiers with Algeria's minister of energy Noureddine Boutarfa

Regardless of the outcome of the meeting on 30 November, the future of OPEC looks uncertain. The organisation is facing a perfect storm, squeezed as it is between the revolution in shale oil, which has increased global supply and brought down prices, and the prospect of a global peak demand stemming from climate policies and falling costs of alternatives. Some have even declared the death of OPEC, but according to Thijs Van de Graaf, professor at … [Read more...]

We can’t simply bet on renewable energy to stop global warming

photo Takver

Simply switching to renewables alone will not solve the climate change problem, writes Steffen Böhm, Professor in Organisation and Sustainability at the University of Exeter. We need to start removing carbon from the atmosphere. And we need to tackle the demand side. We cannot simply assume that relentless economic growth is compatible with a green future. Courtesy of The Conversation. … [Read more...]

Oil companies’ climate initiative lacks initiative

Glad with a BP gift card (photo Mike Mozart)

The Oil and Gas Climate Initiative (OGCI) formed by ten of the world’s largest oil companies including Shell, BP, Total, Statoil and Saudi Aramco, has announced it will spend $1 billion over the next ten years “to accelerate the development of innovative low-emission technologies”. According to Stuart Haszeldine, Professor of Carbon Capture and Storage, at the University of Edinburgh, this is “small change compared to the size of the problem. … [Read more...]

The “new realities for energy”: peak demand, stranded assets

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"The world is undergoing a Grand Transition driven by a combination of factors including the fast-paced development of new technologies, an unstoppable digital revolution, global environmental challenges and changing growth and demographic patterns", according to a statement from the World Energy Council, a UN-accredited global energy network with over 3,000 member organisations in over 90 countries. According to the World Energy Council, the … [Read more...]

IEA sees “major shift” – but not major enough

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“A major shift in investment towards low-carbon sources of power generation is underway”, according to a first-ever detailed analysis of investment across the global energy system from the International Energy Agency (IEA). Yet, in non-OECD countries, “investment in conventional generation remains strong”, with over 75 GW of coal-fired power plants starting operation in 2015 in “developing Asia” – “as much as all renewable capacity additions in … [Read more...]

A turning point looms for electricity and climate

bhutan vulnerable to climate change (photo Asian Development Bank)

To prevent catastrophic global warming, the world may have to issue a moratorium on new fossil-fuel power plants, writes David Fullbrook, senior consultant with DNV GL Energy’s Clean Technology Centre in Singapore. If that turns out to be politically impossible, project developers must start protecting electricity infrastructure from the impacts of a warming climate. … [Read more...]

Jeroen van der Veer, ex-CEO Shell, Chairman ING: “Moving away from fossil fuels presents great opportunities for oil companies”

photo ING Group

“The energy transition presents great opportunities for oil and gas companies to develop new forms of energy and gradually move away from fossil fuels”, says Jeroen van der Veer, former CEO and Chairman of Shell in an exclusive interview for World Energy Focus, a monthly publication of the World Energy Council produced by Energy Post. But the former Shell boss rejects the idea that the oil companies are in danger of ending up with large “stranded … [Read more...]