A new report by the International Monetary Fund (IMF) finds that energy (fossil fuel) subsidies are “big and rising”. At the presentation of the report, Vitor Gaspar, Director Fiscal Affairs Department at the IMF, noted that most subsidies go to coal and said the numbers were “shocking”. He added that “eliminating energy subsidies can generate substantial environmental, fiscal and welfare benefits”. Elias Hinckley, strategic adviser at the US law … [Read more...]
Why Shell can’t quit the Arctic
Despite the damage to its reputation, Shell insists on continuing its controversial Arctic campaign. The company says that the world needs the oil and gas resources of the Arctic. But according to Energy Post’s editor-in-chief Karel Beckman, it’s really Shell itself that needs those resources. … [Read more...]
Why the Tesla battery heralds the beginning of the end for fossil fuels
The introduction of the Powerwall, Tesla’s new battery, will change the global energy equation fundamentally, writes John Mathews, Professor of Strategic Management, at Macquarie University in Australia. This is because it will make renewable energy “the new normal” and will put fossil fuel companies on the defensive. Instead of asking “can we have our own energy system?” communities will be asking “why can’t we have it?” … [Read more...]
ExxonMobil gets a cold reception in Brussels
William Colton, Vice President Corporate Strategic Planning at ExxonMobil, came to Brussels this week, to the Centre for European Policy Studies (CEPS), to present ExxonMobil’s view of our energy future to representatives from EU institutions. It was a clash of two worlds. Brussels failed to be impressed. Mike Parr of the independent consultancy PWR was there. … [Read more...]
IEA: Clean energy progress falls well short of what is needed
It is “realistic and economically sensible to pursue a clean energy agenda”, states the International Energy Agency (IEA) in a new edition of its annual Energy Technology Perspectives. But, it adds”: “clean energy progress is failling well short of the levels needed to limit the global increase to no more than 2 degrees Celsius”. Governments must do much more to stimulate the uptake of clean energy and energy efficiency technologies. … [Read more...]
Less worldly, more wise: a letter to Ben van Beurden, CEO of Shell
In a speech given in London in February, Ben van Beurden, CEO of Shell, called on the energy industry to be "less aloof, more assertive" in the debate about climate change. Van Beurden stressed that "the world's energy needs will underpin the use of fossil fuels for decades to come" and called for "realism and practicality". In a speech given in Paris in March, John Ashton, independent speaker, former UK Special Representative for Climate Change … [Read more...]
GlobalData: Russia’s oil production will continue to grow despite low oil prices
Russian oil production has grown by 1 million barrels per day (bpd) over the last decade to a post-Soviet record of 10.6 million bpd in 2014. In the next five years the factors that were behind this production surge will remain in place, regardless of oil prices, says Anna Belova, GlobalData's Upstream Analyst covering the Former Soviet Union. The Russian oil and gas industry is “relatively self-sufficient”, Belova adds. … [Read more...]
The exciting changes taking place in Scotland’s energy system
Scotland, despite having some of the EU’s largest fossil fuel reserves, is moving rapidly to an energy system based predominantly on renewable energy, notes energy expert Allan Hoffman, a former senior official at the U.S. Department of Energy, who lives in Scotland part of the time. Renewables are already the biggest single source of electricity – and “there is no reason requiring conventional fossil and nuclear generation in Scotland” in the … [Read more...]
Adriaan – ‘Energy for One World’ – Kamp (ex-Shell): “Strategy of oil companies is doomed to failure”
Oil companies like Shell have unique skills that make them ideally placed to help build the energy world of the future. Yet they seem unable to look beyond their own interests, says Adriaan Kamp, former Shell manager and founder of Oslo-based consultancy Energy For One World. “Like the banks, they can’t change their ways. They are still making too much money with oil and gas.” According to Kamp, the growth strategy of the oil companies is still … [Read more...]
Top 12 media myths on oil prices
The upstream oil and gas industry is not a black hole, writes Dan Doyle, president of Reliance Well Services, a hydraulic fracturing company based in Pennsylvania. “There's no mystery wrapped in an enigma here.” Doyle “sets the record straight” on 12 “media myths” about oil and gas prices. Well, 11 really. … [Read more...]
Clean Disruption: how Silicon Valley will make oil, nuclear, gas, coal obsolete (book review)
In his new book “Clean Disruption of Energy and Transportation”, famous author, lecturer and Silicon Valley entrepreneur Tony Seba predicts that by 2030 all power generation will be solar and wind and all cars will be self-driving electric vehicles. The existing energy industry will be “obliterated”. In a review of the book, JosĂ© Cordeiro, founding energy advisor at Singularity University and Visiting Research Fellow at the Institute of … [Read more...]
Scotland’s moratorium on shale gas has no real intention to stop fracking
A moratorium on the planning permits for shale gas in Scotland has been hailed as a victory by opponents of fracking. But according to energy analyst and journalist Lorenzo Colantoni, the true intention of the Scottish government is political. The Scottish National Party, he says, wants to secure votes for the May 2015 elections. It has no intention to really stop fracking or other unconventional gas activities. This is partly confirmed by … [Read more...]
Cheap oil vs wind and solar: fight for future of energy
This article by Giles Parkinson of Reneweconomy is no longer available on Energy Post. See the original article here:published by Reneweconomy.com … [Read more...]
Big Oil’s broken business model: the real story behind the oil price collapse
The underlying cause of the oil price collapse is to be found in the collapse of Big Oil’s production-maximizing business model, writes Michael Klare, professor at Hampshire College and author of many books on the geopolitics of energy. According to Klare, the oil companies were operating according to a business model that assumed an ever-increasing demand for their products, no matter their cost. They also assumed that concern over climate … [Read more...]
Why is CCS stuck in second gear? We need it to fight climate change
Although carbon capture and storage (CCS) is acknowledged by experts as a key technology to fight climate change, it is currently stuck in second gear, writes Howard J. Herzog  is Senior Research Engineer at Massachusetts Institute of Technology (MIT). The reason, he says, is that there is no market for CCS at this moment. He calls on policymakers to set a carbon price that would generate demand for CCS. … [Read more...]
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