Many commentators have pointed out that, as current low oil prices make it difficult for oil companies to invest in exploration and production, we can expect lower supply in future, and therefore a return to high prices. But according to Nick Cunningham of Oilprice.com, the reality is much worse. He notes that even when oil prices were high, over the past years, oil companies were struggling to replace their reserves. The world, he warns, will … [Read more...]
North Americanism: the new Republican plan to colonize Mexico and Canada, take on Putin and wreck the climate
Republican leaders in the US have developed a geopolitical strategy, which, according to famous energy author Michael Klare, is “nothing less than a plan to convert Canada and Mexico into energy colonies of the United States, while creating a North American power bloc capable of aggressively taking on Russia, China and other foreign challengers”. He warns that this vision of a “North American energy fortress”, which Republican presidential … [Read more...]
Nations really do go to war over oil
Politicians usually claim they wage war for "idealistic" reasons. Conspiracy theorists usually claim "it's all about the oil" (or other resources). As it turns out, they are more right than the politicians, according to new research that shows that military interventions often have a lot to do with oil. … [Read more...]
FutureGen’s demise: another blow to CCS
The demise of the much-touted FutureGen 2.0 carbon capture and storage (CCS) project in Illinois is another blow to CCS. Bob Burton, editor of CoalSwarm and Director of the Sunrise Project in Australia, argues that the fate of FutureGen symptomizes the intractable problems faced by CCS everywhere. In Europe, four large utilities - Vattenfall, RWE, EDF and Gas Natural Fenosa, dropped out of the CCS-organisation Zero Emission Platform (ZEP). … [Read more...]
Wood MacKenzie wonder: is solar the next shale?
“Just as shale extraction reconfigured oil and gas, no other technology is closer to transforming power markets than distributed and utility scale solar.” That is the main conclusion of a new report from energy consultants Wood MacKenzie. The report is significant as Wood MacKenzie has a solid reputation in the oil and gas sector. … [Read more...]
Arctic oil put on ice
Low oil prices have prompted Chevron and Statoil to suspend their drilling plans in the Arctic. Sanctions against Russia have forced Rosneft to delay its Arctic campaign. Only Shell still seems to be bent on drilling in the North Pole region, reports Nick Cunningham of Oilprice.com. … [Read more...]
Crushing the US energy export dream
Petroleum geologist Arthur Berman argues that it’s foolish to believe the US could become an energy exporter. “The US will never be self-sufficient in oil”, he writes in an article for Oilprice.com. “Exporting crude oil and natural gas from the United States are among the dumbest energy ideas of all time.” … [Read more...]
Oil price decline: no room for conspirators
Some observers claim the US and Saudi Arabia have made a secret deal to bring down oil prices. They are supposed to be doing this in particular to hurt Iran and Russia. But Friedbert PflĂĽger, Director of the European Centre for Energy and Resource Security (EUCERS), King’s College London, finds their arguments unconvincing. The oil market is too big to be manipulated by conspirators. … [Read more...]
Historic moment: Saudi Arabia sees End of Oil Age coming and opens valves on the carbon bubble
Most analysts believe Saudi Arabia refuses to cut production because it wants to shake out its higher-cost competitors or because it wants to punish Iran and Russia. There may be some truth in those theories, writes Elias Hinckley, strategic advisor and head of the energy practice with international law firm Sullivan and Worcester, but they miss the deeper motivation of the Saudis. Saudi Arabia, he says, sees the end of the Oil Age on the horizon … [Read more...]
UK coal use headed for all-time record low
This year UK coal use is likely to fall back to levels last seen during the industrial revolution, according to analysis from The Carbon Brief. By 2023 the UK may not use any coal anymore for electricity generation, if low gas prices persist. The nation that started the Industrial Revolution, based on coal, says goodbye to the coal age. … [Read more...]
Why cheap oil will not wreck the prospects for renewable energy – this time around
When oil prices collapsed in the 1980s, most large renewable energy programs were dismantled. But that won’t happen this time, writes John Mathews, Professor of Strategic Management at Macquarie University's Graduate School of Management in Sydney, and author of a brand new book “The Greening of Capitalism”. The reason is that China has made a strategic commitment to renewables. Don’t forget, Mathews writes: coal prices have also been falling, … [Read more...]
Measuring the CO2 impact of big infrastructure projects: the case of Keystone XL
Major energy infrastructure projects will be more and more put to a climate test. In the US, for example, draft environmental legislation adopted last year stipulates that climate analysis of federal projects should include “downstream” emissions. In future it will not be so easy for companies to say “if we don’t do it, somebody else will”. But how do you measure indirect climate effects? The Stockholm Environment Institute is one place where … [Read more...]
The implications of $50-a-barrel oil for the world’s energy mix
Oil prices keep sliding, sending economic shockwaves around the world. Analysts are scrambling to try and understand what it means for the world's future energy mix and efforts to cut emissions. But the relationship between oil prices and energy investments is complex, writes Mat Hope for The Carbon Brief. Much depends on how low the price goes as, beyond a certain point, lots of projects are no longer economically viable. … [Read more...]
Eon sells Italian coal and gas power plants
Eon, Germany’s largest energy company, has decided to sell its Italian coal and gas generation assets to Czech energy company EnergetickĂ˝ a PrĹŻmyslovĂ˝ Holding (EPH). … [Read more...]
South Stream Is Dead. Long Live South Stream
South Stream is not dead – rather it has morphed into a new project which is part of a complex commercial power play on the part of Russia and Turkey, writes Anca Elena Mihalache, Senior Analyst with the Romanian think tank Energy Policy Group. According to Mihalache, the new South Stream, if it happens, will offer new opportunities to Europe, but also new threats. In particular, the EU will see its diversification strategy come under pressure … [Read more...]
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