The government of the German State of Brandenburg wanted to buy the lignite mines and power plants from Vattenfall in the Lusatia region to keep them open. The left-far-left coalition was motivated by economic reasons: to prevent job losses and de-industrialisation. But statistics show that Lusatia is actually worse off both economically and socially because of the presence of lignite mining, write Conrad Kunze and Anika Zorn, Social Scientists … [Read more...]
Carbon Tracker: fossil fuel companies risk wasting up to $2.2 trillion in the next decade
Carbon Tracker Initiative (CTI), the NGO that invented the concept of “stranded assets” (or “the carbon bubble”) has today published a new report warning that, as a result of climate policies, “no new coal will be needed, oil demand will peak around 2020 and growth in gas will disappoint industry expectations”. According to CTI, over $2 trillion of new and existing investment is in danger of being wasted over the coming decade if governments and … [Read more...]
The case against Nord Stream 2
By opening up an additional route for cheap Russian gas to Germany, the Nord Stream 2 pipeline project may look like a good deal for Europe. However, its advantages are primarily short term, writes Agata Loskot-Strachota of the Centre for Eastern Studies (OSW) in Poland. In the longer term the pipeline increases the possibilities for Russia’s excessive influence on the European gas market, undermines the policy goals of the Energy Union, and … [Read more...]
Saudis battle Russia in European oil market
Russia depends largely on Europe for its oil revenues. But it is forced to sell its oil at a steep discount in Europe as a result of increasing Saudi competition, writes Nick Cunningham of Oilprice.com. According to Cunningham, there are few signs the oil price will recover in 2016. … [Read more...]
The future of coal: the long comedown
A new report by a consortium of 14 leading research institutions from Europe, the US, Japan, China, India, and Brazil has investigated future energy sector trends, in part based on the climate plans submitted by countries to the UNFCCC before the Paris climate summit, but also based on other drivers such as economic development and local air pollution. One of the key takeaways: the global coal sector is faced with a bleak future, writes Thomas … [Read more...]
The great oil shake-out: how far will it go?
Low oil prices are shaking up the global oil industry. Will they stay low? For how long? And how low is low anyway? These are some of the crucial questions hanging over the global energy sector. We spoke to three experts and the IEA’s Executive Director Fatih Birol, who put the current market in perspective – and offer a view of the future. Some say we are in a fairly normal cycle. Others see fundamental changes coming.This article was first … [Read more...]
Why Ukraine should phase out coal
As a result of the conflict in eastern Ukraine, the government has lost control over the coal heartlands of the country. But regardless of the outcome of the conflict, there is no reason for Kiev to restore or maintain coal mining the way it has operated before, writes Oleg Savitsky of the National Ecological Centre of Ukraine in a new report. As the mines are only able to survive with subsidies, the government should develop a phase-out strategy … [Read more...]
Klaus Schäfer, future CEO of E.ON spin-off Uniper: “EU should set a target for gas”
The EU should define how much gas it wants by when, and recognise that Nord Stream 2 can provide additional security of supply, argues Klaus Schäfer, the incoming CEO of E.ON spin-off Uniper in this exclusive interview with Energy Post. Schäfer, who is currently Board member of the E.ON Group, says Europe is further away than ever from a single market for electricity and calls on policymakers to recognise that security of supply has a cost. He … [Read more...]
Power-to-gas: how carmakers can go green (without cheating)
European carmakers are required to reduce their CO2-emissions, but the Volkswagen affair has shown they find it increasingly difficult to do so. There is a way out, however, writes energy consultant Mike Parr: they could follow the example of Audi and invest in power-to-gas systems. This would kill two birds with one stone, argues Parr: it would help decarbonise the transport sector and could enormously help the integration of variable renewables … [Read more...]
German accord: it will take a lot more to beat lignite
The accord between the German government and energy companies RWE, Vattenfall and Mibrag to put 2.7 GW of lignite-fired power capacity into reserve, will not be enough to wean Germany off lignite, writes Hamburg-based US energy expert Jeffrey Michel. The lignite sector is too well entrenched and lignite mining profitable enough to subsidize the loss-making power production. Only when renewables and gas-fired power generation have fully superseded … [Read more...]
Why Brussels should not interfere with Nord Stream 2
In its efforts to increase European energy security and create a common European energy market – and ultimately an Energy Union worth its label – the European Commission preeminently emphasizes the diversification of supply routes. For this reason it has criticised the Nord Stream 2 project of Gazprom and a number of European companies. But while diversification certainly remains one of the basic principles of energy security, it is only one of … [Read more...]
The UK Government’s delusional energy policy – and what it means for Scotland
The Conservative government in the UK has slashed support for renewables and is going all-out for shale gas and nuclear power. This is setting them on a collision course with devolved administrations in the UK, Scotland most of all, warn Peter Strachan and Alex Russell of Robert Gordon University in Aberdeen and Geraint Ellis of Queen’s University in Belfast. It won’t go over too well at the Paris climate summit either. … [Read more...]
From the horse’s mouth: The new oil world is radically different from the old one
We have entered a new oil world in which most of the old oil market truths can go overboard. This was the stark message given off by BP’s Chief Economist Spencer Dale in a speech he gave in London on 13 October. According to Dale, oil market realities have changed fundamentally: “We need a new set of principles reflecting the New Economics of Oil”. Karel Beckman discusses the profound implications following from Dale’s ground-breaking analysis. … [Read more...]
How Russia is plotting to split OPEC
Russia’s geopolitical strategy, including its intervention in Syria, is all about energy, writes Dalan McEndree of Oilprice.com. According to McEndree, President Putin is aiming to split OPEC into two blocs – the haves (Saudi Arabia, Kuwait, UAE and Qatar) and the have-nots (Iran, Iraq, Libya, Algeria, Venezuela. Nigeria) – with Russia supporting the have-nots. In this way Putin tries to pressure Saudi Arabia to reverse its oil policy, which is … [Read more...]
Disaffected members of UNECE Gas Centre launch new Global Gas Centre under wings of World Energy Council
The World Energy Council is launching a new Global Gas Centre in St. Petersburg on 6 October in collaboration with gas companies ENGIE, OMV and Swissgas. These companies have all recently left another gas organisation, the Gas Centre of the UNECE (United Nations Economic Commission for Europe), out of dissatisfaction. In St Petersburg, the Global Gas Centre wants to sign up new members, particularly Gazprom, the current Chair of the UNECE’s Gas … [Read more...]
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