Policymakers in the US, UK and elsewhere are increasingly receptive to the idea that they should be pursuing unconventional oil and gas and nuclear power in the name of "energy security". But according to John Mathews and Erik Reinert, such a strategy misses an essential point of economic history: relying on commodities retrieved by drilling and mining leads only to stagnation, rising costs and environmental damage. The way to growth, innovation … [Read more...]
EU leaders fail to connect Ukraine crisis to climate and energy policy
Decisions on a new European climate and energy policy for 2030 are relegated to autumn as heads of state are caught up in the Ukraine crisis. At their spring summit in Brussels, EU leaders gave centre stage to energy dependence. First climate change, then competitiveness, now security of supply: the shifting priorities of member states show that a holistic vision and policy for climate and energy is there on paper but not in practice. Sonja van … [Read more...]
Why there’s nothing wrong with being “dependent” on Russia
In response to the Ukraine crisis, the European Union is rushing ahead with sanctions against Russia and will take extra measures to reduce its energy dependence on Russia. According to Energy Post editor Karel Beckman these policies are misguided and based on spurious arguments. He argues that Europe should see Russia as a rival, not as an enemy. “Putin only did what any western leader – certainly any US president – would have done in his … [Read more...]
“Egypt lost $10 billion in corrupt gas contracts”
Egypt lost $10 billion in gas revenues from 2005-2011, according to a report by EIPR (Egyptian Initiative for Personal Rights) and Platform London. Contracts signed during the Mubarak years allowed the export of billions of cubic metres of underpriced gas to Jordan, Spain and Israeli-occupied Palestine, according to the report. EIPR and Platform London summarize the report, which is only available in Arabic, as follows: Some of the individuals … [Read more...]
Ukraine fallout: how to deal with South Stream and Nord Stream
A new report from the Oxford Institute for Energy Studies (OIES) contends that, in light of the Ukraine crisis, the EU should allow Gazprom to use its great new pipelines South Stream and Nord Stream for itself and not be required to grant access to third parties. But the Center for Security Studies (CSS) ETH ZĂĽrch, argues the opposite in a new report of its own. It says the EU should adopt a strict regulatory policy towards South Stream and … [Read more...]
What the Ukrainian crisis means for gas markets
A new report by the Oxford Institute for Energy Studies discusses what the current Ukrainian crisis could mean for EU and global gas markets. According to the report, "The change of government in Kyiv, the Russian military action in Crimea, the diplomatic reaction by the western powers, and the perceived danger of war, clearly have implications for all economic relations between Russia, Ukraine and Europe, especially in the energy sphere. … [Read more...]
Today’s Prize: How to save the Energiewende with European Shale Gas
A new report from the international consultancy IHS shows that the German Energiewende could still be achieved at reasonable cost if Germany were to allow domestic shale gas production. According to Nick Grealy, the IHS report offers, perhaps for the first time, a realistic, achievable strategy to make the energy transition work. Â … [Read more...]
Aligning interests in Ukraine is key to both EU and Russian energy security
All parties in the Ukrainian crisis should do their utmost to avoid any further escalation, writes Friedbert PflĂĽger, Director of the European Centre for Energy and Resource Security (EUCERS) at King’s College, London, and Deputy Minister in the first Merkel government. According to PflĂĽger, Europe must recognize that Russia has legitimate interests in Ukraine, while the Russians have to recognize Ukraine’s right to self-determination. If Ukraine … [Read more...]
European Commission launches negotiations with Georgia to join the Energy Community
The European Commission and Georgia have launched negotiations for Georgia's accession to the Energy Community. The negotiations in Tbilisi were held on 20 February in the presence of Energy Commissioner GĂĽnther Oettinger, for the European Commission and Prime Minister Irakli Garibashvili, Vice-Prime Minister as well as Minister of Energy Kakha Kaladze, for Georgia. By becoming Member of the Energy Community and implementing EU energy legislation … [Read more...]
Three signs of retreat in the global war on climate change
A series of recent developments "highlight the way the world is losing ground in the epic struggle to slow global warming", writes Michael Klare. One of them is what he calls the "evident slackening in Europe’s climate commitment". According to Klare, "the pressures to keep burning fossil fuels are too great to be overcome in piecemeal fashion.  Rather, these forces must be met head-on, with the institutionalization of equally powerful … [Read more...]
WWF: Groundbreaking analysis shows China’s renewable energy future within reach
By embracing conservation measures and renewable energy, China can transition to an 80 percent renewable electric power system by 2050 at far less cost than continuing to rely on coal, according to a new report from WWF-US. As a result, China’s carbon emissions from power generation could be 90 percent less than currently projected levels in 2050 without compromising the reliability of the electric grid or slowing economic growth. The … [Read more...]
World Energy Council: Price volatility greater concern than climate change framework
High energy price volatility has for the first time replaced global climate framework as the number-one critical uncertainty driving the world energy agenda, according to the 2014 World Energy Issues Monitor, released on Tuesday 18 February by the World Energy Council (WEC). Global climate framework uncertainty,while still is akeyuncertainty, is now perceived by energy leaders to have less impact than in the previous three years of the study. … [Read more...]
Interview IEA Director Maria van der Hoeven: “Expansion of gas use no panacea for climate change”
Maria van der Hoeven, Executive Director of the International Energy Agency (IEA) believes that unconventional gas can be produced in an environmentally acceptable way, but warns that an expansion of gas alone “is no panacea for climate change”. In an interview with James Stafford, editor of Oilprice.com, Van der Hoeven discusses a wide range of important energy issues, ranging from the role of gas, renewables and nuclear power to the necessity … [Read more...]
How the Iraqi oil surge will change the global energy landscape
Iraq is returning to an energy market which is radically different than the one it was forced to leave years ago, and its OPEC partners now also have a different view on Iraq’s participation. A new paper by Sammy Six and Lucia van Geuns of the Clingendael International Energy Programme (CIEP) assesses how current market developments impact the strategic position of Iraq - and vice versa: how Iraq is likely to impact the global oil market. The … [Read more...]
Peak oil is dead. Long live peak oil!
Peak oil theory has been replaced with a new theory that might be called “techno-dynamism”. It holds that there is no limit to the amount of oil as long as the industry can apply its technological wizardry to oil production. However, there are three problems with this theory: technology costs keep going up, political and environmental risk keeps mounting, and climate policies will suppress demand which will in turn discourage invesment. The … [Read more...]
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