Chinaâs âNew Silk Roadâ strategy is intended to connect the Chinese industrial powerhouse first with Eurasia and then Europe. This will be done through a gigantic, intricate network of road and rail transport lines and energy pipelines, which will cut overland travel time from China to Europe to just two days. It is the greatest trade story in the world, writes reporter Pepe Escobar, even though we hear little about it in the West. Europe, notes … [Read more...]
Emission trading now a major new source of low-carbon finance in the EU â but will it stay that way?
Last year for the first time many of the CO2 allowances in the EU Emission Trading Scheme (ETS) were auctioned rather than handed out for free. Surprisingly perhaps, the EU member states used much more of the ETS revenues for low-carbon development than EU law suggests they should. This suggests that the ETS could become a major source of low-carbon finance in the future, writes Emil Dimantchev, senior analyst at Thomson Reuters. But Dimantchev … [Read more...]
Energy security: Brussels, stop dreaming about the market and confront Russia and China geopolitically
European leaders are under the delusion that they can solve Europeâs security of energy supply problem by creating a strong internal market, which they believe the rest of the world will be eager to serve. In reality, reducing dependence on Russia will require long-term political commitment, real power play and engagement with countries in the Middle East and North Africa (MENA), write Cyril Widdershoven of energy research institute TNO and … [Read more...]
How the oil price collapse is hastening the demise of Norwayâs oil industry
The drop in global oil prices is hastening the decline of Norwayâs already slowly declining oil industry as new oil projects are being scrapped and workers are laid off. Norway may need to begin building a post-oil economy sooner than it thought, writes Nick Cunningham of Oilprice.com. … [Read more...]
viEUws VIDEO: Brussels Briefing on Energy: All you need to know for December 2014
In this Brussels Briefing on Energy for viEUws.eu, leading journalist Hughes Belin provides an overview of the latest EU energy policy developments: … [Read more...]
EXCLUSIVE – new Vattenfall CEO Magnus Hall: âWhat is true for Eon, is pretty much true for usâ
Vattenfallâs CEO Magnus Hall likens the selling of its lignite operations in Germany to Eonâs recent split in two. âThe problem we needed to solve was the CO2 issue,â says Hall in an exclusive interview with Energy Post. The new chief of the Swedish state-owned company has abandoned the idea of splitting up the company geographically. Its future lies in sustainability, says Hall, e.g. in offshore wind. He notes the European market is distorted by … [Read more...]
Cancellation of South Stream is not retaliation, but a business decision
The decision to stop the South Stream project does not represent a fundamental shift in Russian energy policy, writes Friedbert PflĂŒger, Director of the European Centre for Energy and Resource Security (EUCERS) at Kingâs College London. It is not a political retaliation or a âcounter-sanctionâ, but above all a business decision: South Stream had become far too expensive in the current stagnant European gas market. … [Read more...]
Could falling oil prices spark a financial crisis?
To what extent are financial investors exposed to the oil sector? And what will happen on the financial markets if oil stocks and oil companies go under on a large scale? We are far from a crisis yet, writes Nick Cunningham of Oilprice.com. But, he adds, falling oil prices are not just a problem for oil companies. … [Read more...]
Junckerâs âŹ300bn investment gamble â and what it might mean for energy
The EU and European Investment Bank (EIB) have teamed up to launch a new investment programme for Europe â with energy, as well as transport, research, innovation and education, its key objects. A modest âŹ21bn in public money is set to be multiplied up to a whopping âŹ315bn in total investments over the next three years, pushing Europe toward that long-hoped for economic recovery. There is no dedicated share of the money for individual sectors or … [Read more...]
The Five Energy Labours of Juncker
The new team heading the European Commission in Brussels is lucky. Its predecessors closed two sensitive deals before the reshuffle: a European energy and climate strategy for 2030 and a gas winter package between Ukraine and Russia. On top of that, outgoing Energy Commissioner GĂŒnther Oettinger finished off a thick report on the way forward for a European energy market. The new Commission will follow up on these three dossiers, plus two more … [Read more...]
VIDEO: European Commission enhances energy security through its Covenant of Mayors
Hughes Belin is joined by Marie Donnelly - Director for Energy Transition at the European Commission - on viEUws.eu, to discuss how local communities can secure a sustainable energy future. … [Read more...]
Carefully prepared Cañete dogged by conflict of interest
The candidate for EU Climate and Energy Commissioner, Miguel Arias Cañete from Spain, demonstrated an impressive grasp of his subject matter at his hearing at the European Parliament on Wednesday night in Brussels. But he failed to answer repeated questions about his brother-in-lawâs involvement in two oil-related companies. Today, his future hangs in the balance as he becomes a hostage in a fight between the Parliamentâs different political … [Read more...]
Zero energy at zero cost: industrialising the building sector
The Netherlands has found a way to refurbish existing buildings to net zero energy, within a week, with a 30-year buildersâ guarantee and no subsidies. With new kitchen and bathroom! Now revolutionary renovation programme Energiesprong (literally: Energy Jump) is looking to take its learnings to France and the UK. … [Read more...]
How the Yukos ruling will further upset relations with Russia
The Permanent Court of Arbitration in The Hague ruled in July that the Russian government deliberately destroyed oil company Yukos and has ordered Moscow to pay over $50 billion in damages. The importance of this decision can hardly be overstated, writes Anders Aslund, senior fellow of the Peterson Institute, who is also a former advisor to the Russian and Ukrainian governments and author of many books on Russia. According to Aslund, the economic … [Read more...]
Brussels sets dangerous precedent by clearing UK capacity market
The European Commission has given the green light to a proposed UK capacity market that aims to ensure enough electricity is available to cover consumption at peak times. This is the Commissionâs first assessment of a capacity market under new EU guidelines on energy and environment state aid that entered force on 1 July. The Commission says the aid is justified because it will contribute to the UKâs security of supply âwithout distorting … [Read more...]
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