In a new report out today, Carbon Tracker Initiative (CTI), the NGO that invented the concept of “stranded assets”, blasts Shell’s “climate letter” of 16 May, in which Shell argues that “we do not believe that any of our proven reserves will become stranded”. According to CTI, Shell’s focus on proven reserves is “too narrow” and “understates the risk that its business faces from changes in climate policy”. EP editor Karel Beckman takes stock of … [Read more...]
US energy independence: fact or fiction?
What do you get when you speak with four American investment analysts about the prospects of US gas and oil production, the sustainability of fracking, the risks of the crises in Ukraine and the Middle East, and the potential of nuclear energy and renewables? You get four different, but outspoken opinions, from people with different  perspectives on the world than what you usually find in Europe. A four-way interview by J.T. Long for The Energy … [Read more...]
Russian energy sector will cease to be engine of growth
The contribution of the energy sector to Russian GDP will decrease by nearly 50% over the coming decades. Although energy will continue to provide an important foundation to the Russian economy, it will cease to be an engine of growth. That is the main conclusion of Global and Russian Energy Outlook to 2040, recently published the Energy Research Institute of the Russian Academy of Sciences and the Analytical Centre of the Government of Russia. … [Read more...]
Kurdish oil will find its way out
In May, Iraqi-Kurdistan for the first time ever sold oil to international markets, defying a ban on oil exports from the central government in Baghdad. According to Friedbert PflĂĽger, the Kurdish Regional Government (KRG) will have no problems finding investors and customers to build up its potentially huge oil and gas business. With the current crisis in Iraq, Baghdad should come to terms with the KRG if it wants to share in the proceeds. … [Read more...]
The new Oil Wars in Iraq
Underlying much of the violence that has broken out in Iraq is a struggle to obtain control over Iraq’s oil resources or at least a “fair share” of oil revenues, writes Michael Schwartz, author of many books and articles including “War Without End: The Iraq War in Context”. According to Schwartz’s analysis,the insurgents are attempting to accomplish by force what was denied to them by the central government: a portion of the proceeds from the … [Read more...]
New BP Statistical Review shows US oil production increase helped avoid oil crisis
The new BP Statistical Review of World Energy 2014, published on 16 June, shows that the world only narrowly escaped an oil crisis last year, thanks to a large increase of production in the US. The figures in the famous Review – the publication’s 63rd annual edition – show “how geopolitical events in a number of countries continued to impact oil production in 2013, with Libya suffering the largest single decline in the face of renewed civil … [Read more...]
Oil and gas producers: we subsidise government, not vice versa
Oil and gas contribute hundreds of billions of euros to European government revenues every year, a new study shows, highlighting how the industry – far from being subsidised – crucially boosts public finances in the European Union and Norway. Energy taxation and subsidies in Europe, a study commissioned by the International Association of Oil & Gas Producers (OGP) and carried out by independent consultant NERA Economic Consulting, sheds … [Read more...]
IEA: unconventional oil revolution to spread beyond US
The unconventional supply revolution that has redrawn the global oil map will likely expand beyond North America before the end of the decade, the International Energy Agency (IEA) says in its annual five-year oil market outlook released on 17 June. The report also sees global oil demand growth slowing, OPEC capacity growth facing headwinds, and growing regional imbalances in gasoline and diesel markets. The IEA’s Medium-Term Oil Market Report … [Read more...]
Interview Shell strategist Jeremy Bentham: “Future organisations will have to cross boundaries”
What will Shell’s role be in an increasingly carbon-constrained, and increasingly electrified world? Clearly the company sees its natural gas business as becoming central to its operations, gradually overtaking its oil business. But beyond that, the future is uncertain. Jeremy Bentham, Vice-President of Global Business Environment and head of the Shell Scenarios team, sees Shell evolving into a company that provides flexibility and resilience and … [Read more...]
Will China follow the US example and cap carbon emissions?
With his Clean Power Proposal, President Obama has entered on a drive to put a ceiling on carbon emissions in the US – for the first time. The question  is now whether China will follow this example. Nicholas Cunningham of Oilprice.com believes China may be about to turn a corner – with huge consequences for global energy markets. … [Read more...]
The Trillion-Dollar Question: Is Big Oil over-investing in high-cost projects?
Mark Fulton and Reid Capalino of the Carbon Tracker Initiative – the NGO that originated the concept of “stranded assets”and “the carbon bubble” – explain the risks oil companies are taking by investing in oil and gas projects in an increasingly carbon-constrained world. … [Read more...]
What a difference a decade makes: an updated reality check on the global energy system
Robert Wilson takes a very hard-headed look at the state of the global energy system, in particular at the US and China. He comes up with some stunning conclusions. America’s per-capita energy consumption, he argues, is excessive and could easily be halved without any negative impact on the standard of living. But no matter what the US does, China is already by far the largest energy consumer in the world. And unfortunately, despite taking some … [Read more...]
Interview Fatih Birol, IEA: “Gradual change will not save us”
The latest major report from the International Energy Agency (IEA), the Energy Technology Perspectives 2014, states that “radical action is needed to actively transform energy supply and end use”. In an interview with Energy Post, the IEA’s renowned Chief Economist Fatih Birol notes that governments in particular have to take action. “You cannot change trends by giving some lectures or speeches. Policymakers should put in place real economic … [Read more...]
Exxon, BP, Shell, Total see new opportunities in Russia
The world's major oil companies are making it very clear that they are eager to continue to do business with and in Russia, despite US and EU sanctions and criticisms. Indeed, they seem to regard the current tensions with Russia as an opportunity to expand their activities in the world's largest oil and gas territory, notes Nicolas Cunningham of Oilprice.com. … [Read more...]
The Birth of a Eurasian Century
The signing of the long-awaited $400 billion gas contract between Russia and China is a sign of changing times, writes Pepe Escobar. According to the Asia-based reporter, there are many developments going on, virtually unreported by the western media, that are chipping away at the dominance of the United States in the world. A Russian-Chinese alliance is forming, which will reach out into Europe through energy and trade relations – and  perhaps … [Read more...]
- « Previous Page
- 1
- …
- 27
- 28
- 29
- 30
- 31
- 32
- Next Page »