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...]
Exit Ahead – Shell at the end of the Oil Superhighway
Shell’s departure from the Arctic is a very significant event in the global energy picture, writes Energy Post editor-in-chief Karel Beckman. It is another sign that the End of the Oil Age is in sight. … [Read more...]
“Mercedes, BMW and Peugeot models consume 50% more fuel than official results”
New cars, including the Mercedes A, C and E class, BMW 5 series and Peugeot 308, are now swallowing around 50% more fuel than their lab test results reveal, according to new on-the-road results compiled by NGO Transport & Environment (T&E). T&E calls for a comprehensive investigation into both air pollution and fuel economy tests across Europe and a complete overhaul of the testing system. … [Read more...]
The Price of Oil: why it rose stupendously, why it is likely to remain low and what this means for the world
Although oil has experienced an extraordinary price increase over the past few decades, a turning point has now been reached where scarcity, uncertain supply and high prices will be replaced by abundance, undisturbed availability and suppressed price levels in the decades to come, write Roberto F. Aguilera of Curtin University in Australia and Marian Radetzki of LuleĂĄ University of Technology in Sweden. In this article they provide a synopsis of … [Read more...]
Natural gas methane problem? It’s overstated
The role of natural gas as a “bridge fuel” has been called into question by critics who argue that methane leakage rates from gas production and transport could outweigh the lower CO2 emissions associated with gas. However, according to Alex Trembath, policy associate at the Breakthrough Institute, this is not what most of the scientific literature says. “Methane leakage is a minor factor in determining the benefit of gas versus coal and methane … [Read more...]
Why Ukraine has to reform its gas sector
Ukraine has embarked on “the mother of all reforms”: that of the gas sector. This is one of the most important and most difficult reforms Ukraine has to undertake. Yet without the marketisation of gas prices and an improvement in Naftogaz’s financial standing, it will be impossible to reform Ukraine’s public finances and end the long-standing economic crisis. Energy sector reform is a central goal of the post-Euromaidan government and indeed the … [Read more...]
The next move for oil is downwards – and here’s why
Former oil trader Martin Tillier explains the reason for the wild price swings in oil recently: panic in the dealing room. He argues that traders are likely to push the oil price down again “until sanity returns”. … [Read more...]
Caught out by double dip: why the oil glut may lead to a new world of energyÂ
Market watchers were caught out by the recent second slump in oil prices. They thought the bottom had been reached earlier this year. Could we be a witnessing a fundamental shift in the energy industry, wonders energy expert and author Michael T. Klare? "Investment in 'unconventional' projects like Canadian tar sands, ultra-deep Atlantic fields and Arctic oil will largely disappear." … [Read more...]
Saudis could face open revolt at next OPEC meeting
Market watchers assume that Saudi Arabia will not change its oil policy any time soon, which means that oil prices will continue to be in the doldrum for quite some time. However, Dalan McEndree of Oilprice.com points out that the Saudis may well face an open revolt from fellow OPEC members at the next OPEC meeting. They will then be faced with the choice to cut production - or see OPEC fall apart. … [Read more...]
The Eurasian Big Bang: how China and Russia are carving out their own world order
While politicians in the United States are outdoing each other condemning the Iran nuclear agreement, the rest of the world is moving on, writes Asia Times correspondent Pepe Escobar. Virtually unreported by western media, China, Russia, India, Iran and other nations are establishing financial, economic, political and energy infrastructure partnerships that are changing global relations irrevocably. The EU meanwhile is mostly ignored. … [Read more...]
Sustainable oil from algae: the technology is ready, what about the politics?
Algae ponds covering an area the size of Sydney could satisfy the entire crude oil demand of Australia, according to a recent study from Australian researchers Bojan Tamburic and Arunima Malik. But some form of government support is critical to bring the technology up to scale. … [Read more...]
$1 trillion solar, wind finance vehicle to outstrip oil and gas investment
A new report from Deutsche Bank predicts that the Yieldco, a finance vehicle for renewable energy, will attract more money than similar instruments that exist for oil and gas investments. Giles Parkinson of the Australian website Reneweconomy has the story. Energy Post highlighted recently why the YieldCo is likely to become a gamechanger in the energy sector. … [Read more...]
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