The latest major report from the International Energy Agency (IEA), the Energy Technology Perspectives 2014, states that âradical action is needed to actively transform energy supply and end useâ. In an interview with Energy Post, the IEAâs renowned Chief Economist Fatih Birol notes that governments in particular have to take action. âYou 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 â and  perhaps … [Read more...]
What oil companies do is bad for the climate. But it may also be bad for investors
Climate campaigners have a new weapon in their arsenal: they say that if shareholders want value for money they had better start questioning the high-risk, high-cost projects oil companies are undertaking on a massive scale. And not just because of climate risks, but for purely economic reasons as well. The Carbon Tracker Initiative, which first put the idea of âstranded assetsâ on the map (i.e. the notion that a large part of the fossil fuel … [Read more...]
Trouble in oil paradise: domestic challenges in Saudi Arabia and their global implications
Saudi Arabia, the mainstay of the worldâs oil system, is faced with mounting problems in its domestic energy market which affect its ability to function as the global swing producer, warns Eckart Woertz in a policy brief written for the Norwegian Peacebuilding Resource Centre (NOREF). The country is faced with such a severe natural gas shortage that half of its electricity production now comes from oil. As a result, its ability to export oil may … [Read more...]
Carbon Delirium: the hazardous impact of fossil-fuel addiction on American foreign policy
The elites in the U.S. and other âpetro-statesâ have become so addicted to the power and riches brought by fossil fuels, they are blind to their ill effects, argues Michael Klare. As an example he notes the âdelusionalâ idea that increased gas and oil production in North America could somehow influence Vladimir Putinâs behavior towards Ukraine. This addiction, says Klare, must be cured, as it poses a âdirect danger to humanityâ. … [Read more...]
ExxonMobil releases report on stranded carbon asset risks
Climate activists are increasingly putting pressure on investors to withdraw investments from major fossil fuel companies, on the grounds that these companies' "carbon assets" are likely to be "stranded" in the future as the effects of climate change become too far-reaching for policymakers to ignore. In that event, the activists argue, the oil and other fossil fuel companies will not be allowed anymore to exploit their assets, which would leave … [Read more...]
Interview Arthur Berman: âShale is not a revolution, itâs a retirement partyâ
How much faith can we put in our ability to decipher all the numbers out there telling us the US will soon be cornering the global oil market? There's another side to the story of the relentless US shale boom, one that says that some of the numbers are misunderstood, while others are simply preposterous. According to energy expert Arthur Berman, a geological consultant with thirty-four years of experience in petroleum exploration and production, … [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 ZĂźrch, 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...]
Itâs Scotlandâs oil â and it will need a lot of investment
With the Scottish referendum campaign about independence from the rest of the UK in full swing, UK Prime Minister David Cameron has been foolish to try to make North Sea oil a reason for the Scots to stay. There are plenty of good reasons to keep the UK united, but oil is not one of them, except perhaps that Scotland is going to be far too dependent on it, if it leaves. Energy journalist Chris Cragg explains the real issues the UK oil and gas … [Read more...]
Interview Adam Sieminksi, Chief EIA: âGas production in the US will keep growingâ
The Energy Information Administration (EIA), part of the US Department of Energy, predicts that natural gas production in the US will continue to grow at an impressive pace â regardless of what shale gas and environmental critics believe. Right now output is close to 70 billion cubic feet a day and it is expected to reach over 100 billion cubic feet per day by 2040. âIn our view, those production trends are going to continue without the … [Read more...]
An investor speaks: the oil party is almost over
The fact that environmental activist Bill McKibben is waging a relentless âfossil fuel divestment campaignâ may not worry established oil and coal companies too much. But he is joined by an increasing number of mainstream investors and analysts. The latest investor to warn that fossil fuel assets may be overvalued is the famous hedge fund manager Jeremy Grantham, owner of the major US asset-management firm GMO. In a thoughtful piece for the GMO … [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 Europeâs climate commitment". According to Klare, "the pressures to keep burning fossil fuels are too great to be overcome in piecemeal fashion. Â Rather, these forces must be met head-on, with the institutionalization of equally powerful … [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 âis no panacea for climate changeâ. 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...]
The four âgamechangersâ of the energy sector
Are we headed for a Solar Power Revolution, as many investment analysts are claiming? According to Energy Post editor Karel Beckman, we undoubtedly are. Just as we are headed for a Coal Revolution. And a Nuclear Revolution. And a Shale Revolution. Welcome to the world of energy âgamechangersâ. … [Read more...]
![](https://energypost.eu/wp-content/themes/dynamik-gen/images/content-filler.png)