What do you get when you speak with four American investment analysts about the prospects of US gas and oil production, the sustainability of fracking, the risks of the crises in Ukraine and the Middle East, and the potential of nuclear energy and renewables? You get four different, but outspoken opinions, from people with different perspectives on the world than what you usually find in Europe. A four-way interview by J.T. Long for The Energy … [Read more...]
Russian energy sector will cease to be engine of growth
The contribution of the energy sector to Russian GDP will decrease by nearly 50% over the coming decades. Although energy will continue to provide an important foundation to the Russian economy, it will cease to be an engine of growth. That is the main conclusion of Global and Russian Energy Outlook to 2040, recently published the Energy Research Institute of the Russian Academy of Sciences and the Analytical Centre of the Government of Russia. … [Read more...]
Why Brussels is reluctant to adopt an energy efficiency target that’s good for the EU economy
Within weeks, the European Commission will propose an energy efficiency target for Europe for 2030 that is substantially lower than what many stakeholders and policymakers believe is feasible. It will even be lower than what the Commission’s own impact assessment concludes is beneficial for the economy. And it will probably be non-binding although the impact assessment says a binding target would be more effective. Why this reluctance from … [Read more...]
Why the US has not made more progress in moving to a renewable energy future – a personal view
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...]
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