The consensus among oil analysts is that oil prices will not recover anytime soon, but Mike Rothman, President and Founder of the US-based research firm Cornerstone Analytics, expects prices to more than double by the end of the year to $85 per barrel. According to Rothman, analysts like the International Energy Agency (IEA) are underestimating demand growth and inventories are not as high as most people think. Courtesy of Oilprice.com. … [Read more...]
Injecting energy into the agenda of trade negotiators
Barriers to trade and investment in energy goods and services, long neglected, are starting to  be addressed by trade negotiators in the World Trade Organisation and outside of it. The process of integrating the energy dimension to trade policy is however still in its infancy. An upcoming report from the World Energy Council aims to offer trade officials a policy agenda. Iana Dreyer, editor of Borderlex.eu, a newsletter specialised in EU trade … [Read more...]
The world’s biggest oil bribery scandal
Last week, a sweeping investigative report published by The Huffington Post and Fairfax Media put a little known Monaco-based company, Unaoil, at the center of a wide-ranging bribery scandal that involved dozens of corporate giants from around the world. Nick Cunningham of Oilprice.com tells the story. … [Read more...]
Jeroen van der Veer, ex-CEO Shell, Chairman ING: âMoving away from fossil fuels presents great opportunities for oil companiesâ
âThe energy transition presents great opportunities for oil and gas companies to develop new forms of energy and gradually move away from fossil fuelsâ, says Jeroen van der Veer, former CEO and Chairman of Shell in an exclusive interview for World Energy Focus, a monthly publication of the World Energy Council produced by Energy Post. But the former Shell boss rejects the idea that the oil companies are in danger of ending up with large âstranded … [Read more...]
National climate policies undermine European Emissions Trading Scheme
National subsidies and other forms of support for renewable energy and energy efficiency have seriously undermined the functioning of the EUâs Emissions Trading Scheme (EU ETS), writes Arnold Mulder of the University of Groningen. His PhD research, supervised by professors Catrinus Jepma, Steven Brakman and Erik Dietzenbacher, shows that current efforts to reform the system and increase CO2 allowance prices will not work if this adverse policy … [Read more...]
Wake up call for oil companies: electric vehicles will deflate oil demand
The major oil companies greatly underestimate the impact electric vehicles will have on their market, write independent energy advisors Salman Ghouri and Andreas de Vries. According to Ghouri and De Vries, the trends currently underway in the auto industry are likely to have a substantial impact on oil demand in the medium term, and even a devastating impact in the longer term. … [Read more...]
The oilman who loved dictators – or: how Texaco supported Fascism
Author Adam Hochschild tells the forgotten story of how Texaco and its CEO Torkild Rieber helped the Nationalists of General Franco achieve victory in the Spanish Civil War â and then went on to support Hitler. It serves as a chilling reminder of the power that oil companies have had â and still have â in shaping our world. Courtesty of TomDispatch.com. … [Read more...]
Dispelling the nuclear baseload myth: nothing renewables can’t do better
The main claim used to justify nuclear is that itâs the only low carbon power source that can supply âreliable, base load electricity. But not only can renewables supply baseload power, they can do something far more valuable: supply power flexibly according to demand, writes Mark Diesendorf, Associate Professor of Interdisciplinary Environmental Studies at UNSW Australia. That, says Diesendorf, makes nuclear power really redundant. (This article … [Read more...]
Barclays: Germany’s coal generation may be worthless by 2030
Reneweconomy.com The 46,000MW of black and brown coal fired generation currently in service in Germany will be worthless in little more than a decade if the country adopts the targets embraced at the Paris climate change conference, a new analysis from Barclays says. … [Read more...]
Oil won’t stage a serious rebound until this happens
Oil prices have shown signs of life over the past few weeks, as production declines raise expectations that the market is starting to adjust. But according to Nick Cunningham of Oilprice.com this price rally may be short-lived: prices won't recover until global inventories are reduced substantially. … [Read more...]
US shale oil: the day of reckoning will come
The financial state of the US shale oil industry is much worse than the still impressive production figures would lead us to believe, writes energy expert Jilles van den Beukel, a former geophysicist with Shell. Shale oil producers and investors have managed to postpone the day of reckoning, but the fundamentals of the industry make a shake-out inevitable. … [Read more...]
Exxonâs never-ending big dig
ExxonMobil not only appears to have ignored its own scientists when they warned about the dangers of greenhouse gas emissions in the 1980s, the company even took advantage of its inside knowledge by leasing large tracts for Arctic oil exploration, writes famous author and activist Bill McKibben in a revealing essay. What is worse, says McKibben, is that even today Exxon continues to spend billions finding and producing ever more fossil fuels. But … [Read more...]
Robert Johnston, CEO Eurasia Group: âTake a seat at the table and advocate for gasâ
The big question in the energy sector today is whether the world will move to a zero-carbon policy in which fossil fuels have no place, or a world in which natural gas is part of the solution, says Robert Johnston, CEO of US-based consulting firm Eurasia Group, in an interview with World Energy Focus. Johnston advises companies to âtake a seat at the policy table and advocate for gasâ to counter âgrowing demands to exclude natural gasâ. … [Read more...]
Corporate interest in green energy requires new thinking from electric utilities
Corporate America is going green, writes Dennis Wamsted. Electricity companies had better take notice: they can offer their customers what they ask for - or watch them contract for it on their own. … [Read more...]
Europeâs energy investment crisis: âthe EU energy market needs a makeoverâ
Europeâs electricity market, which has some of the highest renewable energy shares in the world, is suffering from a profound investment crisis. Sonja van Renssen spoke with top experts from government, business and academia about the causes and possible solutions. Conclusion: âtinkering around the edgesâ wonât do - âa complete makeoverâ of Europeâs market design is needed. Courtesy of World Energy Focus. … [Read more...]
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