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...]
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...]
Summer greetings – we’re taking a break!
Energy Post would like to thank all of our readers and contributors for a terrific first half of the year. Your contributions and sharing via social media has helped drive the debate we seek to stimulate about Europe and energy. We’re taking a short break now but we’ll be back on Monday 17 August with new content. In the meantime, please keep reading, sharing and telling us what you think. Enjoy the summer!  … [Read more...]
“Huge challenge to deliver enough oil and gas for 2ÂşC” – Statoil on Paris climate talks
In this video for viEUws - the EU Policy Broadcaster - journalist Sonja van Renssen is joined by Jos Delbeke (Director General for Climate Action, European Commission), Kathleen Van Brempt MEP (Vice-president of the S&D Group) and Eirik Wærness (Chief Economist and Vice President, Statoil) to debate the question: “Road to Paris: can the EU retain its leadership role at COP21?” … [Read more...]
On the road: EU goes for efficient and electric, ponders biofuels
The European Commission’s strategy for decarbonising the road transport sector is finally taking shape: Brussels wants efficiency first, electrification second. But it doesn't know what to do about biofuels. “There is no appetite for [new] targets”, says Commission Director Marie Donnelly. Sonja van Renssen takes us on the bumpy road to a climate-friendly European transport sector. … [Read more...]
Worldwatch Institute: energy costs rise as national debts grow
Although current oil prices are temporarily low, long-term energy costs are on the rise, reports the Worldwatch Institute in its State of the World 2015 report. The Worldwatch Institute warns that “higher energy costs will have ripple effects through economies built around continued large energy-input requirements”. … [Read more...]
Heaven belongs to us all – the new papal encyclical
With his encyclical "Laudato Si" the Pope has written more than a moral appeal without obligation. He has presented a pioneering political analysis with great explosive power, which will probably determine the public debate on climate change, poverty and inequality for years to come, argues Brigitte Knopf from the Mercator Research Institute on Global Commons and Climate Change. Through her secular eyes the implications of the encyclical become … [Read more...]
Good luck G7 leaders – we won’t be off fossil fuels by 2100
The most powerful leaders in the West used the G7 summit in Germany to make a big statement on the environment. Their stated goal is to cut carbon emissions by 40% to 70% by 2050 and then end all fossil-fuel use by 2100. They announced a US$100bn (ÂŁ65bn) fund by 2020 comprising public and private money to help smooth the transition. My response to David Cameron, Angela Merkel and the rest is pretty simple: good luck with that. … [Read more...]
Canada will find US shale oil revolution hard act to follow
The new edition of the BP Statistical Review of World Energy, just released, reports that the US recorded the largest increase in oil production in the world, surpassing Saudi Arabia, , thanks to its shale revolution. Can Canada follow the US example now that huge new shale oil deposits have been identified in the country’s remote Northwest Territories? Andrew Topf of Oilprice.com reports that the oil may well be there, but the external … [Read more...]
Going for gas: the risky strategy of the world’s largest companies
They are the biggest companies in the world and they are making a huge bet: they are staking their – and our – future on natural gas. At the World Gas Conference in Paris, the major oil companies all avowed their belief that gas will be the world’s “fuel of choice”, because it is “the cleanest fossil fuel”, “abundant” and “competitive”. But Karel Beckman argues they are overstating the case for gas. And may even be betting on the wrong horse. … [Read more...]
Why is oil and gas activity causing earthquakes? And can we reduce the risk?
The US has witnessed markedly increased seismicity in recent years. There is little doubt that this is caused by oil and gas extraction activities, writes Matthew Hornbach, Associate Professor of Geophysics at Southern Methodist University. However, according to Hornbach, there is no reason to panic: human ingenuity will be able to address this new challenge. He notes that the energy industry has been very cooperative in researching the problem. … [Read more...]
Exclusive – JĂ©rĂ´me Ferrier, President International Gas Union: “You cannot equate gas with coal or oil. You have to discriminate!”
Natural gas can help safeguard the planet: it can become the world’s major energy source, be a factor for peace and help save the climate, says JĂ©rĂ´me Ferrier, President of the International Gas Union (IGU) and the French Gas Association in an interview with Energy Post. But, he adds, to enable gas to fulfill these roles, policymakers will have to make a clear choice in favour of gas over oil and coal. “They have to discriminate!” … [Read more...]
World’s largest investment fund from Norway set to divest from coal
The Finance Committee of the Norwegian Parliament has issued a unanimous recommendation to divest the country’s sovereign wealth fund from the coal industry. The Norwegian Government Pension Fund Global (NGPFG) is the world’s largest sovereign wealth fund and one of the top ten investors in the global coal industry. Environmental organisations are elated. They expect that many billions of euros will be withdrawn from the coal sector. … [Read more...]
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