In 1978 a monumental multi-departmental study was submitted to President Carter concluding that “solar energy could make a significant contribution to U.S. energy supply by the end of this century”. The study, backed by 30 federal departments, stated that “even with today’s subsidized energy prices, many solar technologies are already economic.” Yet no action was taken and solar power and other renewable energies stagnated for over 30 years. … [Read more...]
Kurdish oil will find its way out
In May, Iraqi-Kurdistan for the first time ever sold oil to international markets, defying a ban on oil exports from the central government in Baghdad. According to Friedbert Pflüger, the Kurdish Regional Government (KRG) will have no problems finding investors and customers to build up its potentially huge oil and gas business. With the current crisis in Iraq, Baghdad should come to terms with the KRG if it wants to share in the proceeds. … [Read more...]
The new Oil Wars in Iraq
Underlying much of the violence that has broken out in Iraq is a struggle to obtain control over Iraq’s oil resources or at least a “fair share” of oil revenues, writes Michael Schwartz, author of many books and articles including “War Without End: The Iraq War in Context”. According to Schwartz’s analysis,the insurgents are attempting to accomplish by force what was denied to them by the central government: a portion of the proceeds from the … [Read more...]
Corruption serious barrier to sustainable energy system in southeast Europe
High-level corruption in the energy sector is seriously affecting countries in seven countries in South Eastern Europe, according to the study Winners and Losers: Who Benefits from High Level Corruption in the South East Europe Energy Sector?. NGOs who authored the report, launched 24 June in Brussels during a High Level Policy Conference, call upon EU institutions to treat the reform of the energy sector in South East Europe as an urgent … [Read more...]
A warning from the IPCC: the EU 2030’s climate target cannot be based on science alone
The European Union often emphasizes that it is pursuing a “science-based” climate policy. The European Council’s long-term emission reduction target of 80-95% by 2050 explicitly refers to the Fourth Assessment Report of the Intergovernmental Panel on Climate Change (IPCC). Thus, it came as a surprise for many European policymakers and stakeholders that the latest IPCC report did not offer any specific guidelines on future EU climate targets. … [Read more...]
An economic disaster in the making: how Europe is losing its energy efficiency lead
A European building retrofit programme could reduce Russian gas imports by 80%. A 40% energy saving target could remove the need for Russian gas altogether. Yet the EU currently seems unwilling to impose the measures necessary to step up energy saving. As a result, European industry is rapidly losing its international lead in efficiency, which is crucial to its international competitiveness. What is more, European companies active in energy … [Read more...]
Capacity payments: expensive solution for a non-existing problem
As of 2015, the UK will be the first European country to launch a capacity mechanism that aims at rewarding power plants for the MW’s they can produce rather than the MW’s they actually generate. Similar plans are being prepared in other countries, including Belgium, France and Germany. According to Benedict de Meulemeester, CEO of international energy procurement consultancy E&C, it is understandable that energy companies lobby for capacity … [Read more...]
The days of solar power may be closer than you think
Many people are unaware quite how close we are to reaching a critical milestone in the industry. Within a fairly short space of time, solar generated electricity will be fully cost competitive with coal-powered electricity -- at least if the governments of the world's two largest energy consuming nations have their way. … [Read more...]
Obama’s Clean Power Plan: why it’s smarter than you think (and beats EU policy)
The Clean Power Plan recently announced by the US Environmental Protection Agency (EPA) has been hailed for its good intentions, but also widely criticized for its “modest” ambitions. What most commentators have failed to note, however, is that, compared to EU climate policies, Obama’s plan is really a smart piece of legislation. It avoids the policy failures made by Brussels and lays a solid foundation for a successful low-carbon strategy. … [Read more...]
How the EU should deal with the Ukraine gas crisis
The Russian decision, on 16 June, to halt gas supplies to Ukraine spells trouble for the coming winter. Even if the current crisis is resolved, uncertainties over Ukraine will remain. Therefore, the EU needs to prepare for another gas crisis, both in the short term, by establishing crisis mechanisms, and in the medium term, to prevent future crises. Agata Łoskot-Strachota of the Centre for Eastern Studies (OSW) in Poland sets out the urgent steps … [Read more...]
Shale gas: what it could really mean for Europe
The Ukrainian crisis has revitalized discussions in Europe about the role shale gas could play in the European energy mix and to enhance security of supply. Opinions on this are very polarized. Whereas optimists declare that Europe could start commercial production in 2020, the pessimists insist that shale gas will never be profitable in Europe. According to Alexander Gusev, the real picture is not black-and-white. Cutting through the confusion … [Read more...]
Interview Shell strategist Jeremy Bentham: “Future organisations will have to cross boundaries”
What will Shell’s role be in an increasingly carbon-constrained, and increasingly electrified world? Clearly the company sees its natural gas business as becoming central to its operations, gradually overtaking its oil business. But beyond that, the future is uncertain. Jeremy Bentham, Vice-President of Global Business Environment and head of the Shell Scenarios team, sees Shell evolving into a company that provides flexibility and resilience and … [Read more...]
Will China follow the US example and cap carbon emissions?
With his Clean Power Proposal, President Obama has entered on a drive to put a ceiling on carbon emissions in the US – for the first time. The question is now whether China will follow this example. Nicholas Cunningham of Oilprice.com believes China may be about to turn a corner – with huge consequences for global energy markets. … [Read more...]
Perspectives on Obama’s clean power plan: small step for US, big step for mankind?
The proposal made by the US Environmental Protection Agency to reduce CO2 emissions from power stations in the US by 30% has been hailed by many as a historic breakthrough in US climate policy. Others, however, argue that the proposal is quite moderate. Some even say the plan will do nothing for the climate at all. Supporters say the main benefits of the plan is the precedent it sets and the message it sends. Energy Post editor Karel Beckman … [Read more...]
The Trillion-Dollar Question: Is Big Oil over-investing in high-cost projects?
Mark Fulton and Reid Capalino of the Carbon Tracker Initiative – the NGO that originated the concept of “stranded assets”and “the carbon bubble” – explain the risks oil companies are taking by investing in oil and gas projects in an increasingly carbon-constrained world. … [Read more...]
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