ExxonMobilâs Shute Creek CCUS facility is the worldâs largest carbon capture project. But since its launch in the 1980s half of that CO2 has been vented into the atmosphere, with most of the rest sold for pumping it underground to push out more oil from depleted wells (called Enhanced Oil Recovery). Only 3% has been sequestered underground, explain Bruce Robertson and Milad Mousavian at IEEFA, following their study based on publicly available … [Read more...]
Buildings Renovation: if Europe had started a decade ago it wouldnât have a Russian oil & gas problem
Itâs a message we are starting to see a lot. If ambitious climate policies struggling to be implemented today had been launched a decade ago, Europe wouldnât have a Russian oil and gas problem. Andreas RĂźdinger at IDDRI looks at buildings renovations in France. Two missed targets, proposed in 2008, are a 38% reduction in energy consumption in existing buildings by 2020, and 400,000 âmajorâ renovations annually. If they had been met, natural gas … [Read more...]
U.S. EIA Annual Energy Outlook 2022 reveals no reduction in emissions to 2050
The U.S. Department of Energyâs Energy Information Administration (EIA) has released its influential 2022 âAnnual Energy Outlookâ (AEO2022) which projects the electricity mix over the next 30 years. (The modelling takes policies and global conditions as they were in November 2021, so the current Russia-Ukraine crisis is not accounted for, nor any future unforeseeable shocks, and assumes no new policies to 2050). Sandra Sattler at the Union of … [Read more...]
Lower driving speeds + more: behaviour change can make up for 2.7m barrels/day loss of Russian oil imports
Russia normally exports 5m barrels of oil a day. Sanctions may now see Ukraine-supporting nations refuse to buy 3m of them. Can those nations cut their consumption by the same amount, immediately, and stop shortages and further price rises? Yes, says Lucas Davis at the Haas School of Business. Following the Russia-Ukraine crisis, the IEA has released a report âA 10-Point Plan to Cut Oil Useâ, with ten ideas for immediate actions in advanced … [Read more...]
Russia-Ukraine: Support for U.S. Oil & Gas producers must tie them to low-emissions investments
Like many countries, the U.S. is set to raise oil and gas production to compensate for cuts in Russian imports consequent to the war in Ukraine. The danger is that short-term solutions to sky rocketing fossil fuel prices will take precedence over climate targets. But Ben Cahill at CSIS explains how this is an opportunity for the Biden administration to give support to fossil energy producers with one hand and extract solid commitments on … [Read more...]
Russia-Ukraine and Europeâs energy strategy: a snapshot of a fast-moving crisis
Every day brings news of how Europeâs energy policy is reacting to Russiaâs invasion of Ukraine. Itâs a big topic and fast moving. Helen Farrell gives a summary of the situation so far. She lists some of the major U-turns at both EU and national levels, the IEAâs ten-point recommendations, the feasibility and repercussions of cutting Russian fossil imports, the prospects for clean energy (solar, wind, nuclear, storage) and our net zero targets. … [Read more...]
Energy Charter Treaty: four ways to amend it and enable green investments
The European Green Deal (EGD) aims to mobilise at least âŹ1 trillion in sustainable investments over the next decade. But the Energy Charter Treaty (ECT) in its current form - designed to protect cross-border investments, enabling those whose energy projects have been shut down to sue nations â is causing fierce debate. The ECT protects all investment alike, but the result has been fossil (and nuclear) investors suing nations that have curtailed … [Read more...]
Reducing Europeâs dependence on Russian Oil and Gas: immediate, short and long term strategy
Atlantic Council Global Energy Center experts and associates offer their template for drastically reducing Europeâs dependence on Russian oil and gas. Itâs broken down into immediate, short (one to three years) and long term (beyond three years) actions. Itâs wide-ranging and comprehensive. Some actions are already in play, including maximising gas storage, ready for next winter. Some are the ramping up of existing plans (clean energy, … [Read more...]
A massive expansion of domestic Renewable energy stops wars, not just climate change
Hans-Josef Fell at Energy Watch Group says bluntly that a massive expansion of domestic renewable energy generation over the last decade would not only have saved the planet from a future climate catastrophe, it would be stopping wars today. Firstly, 70% of Russia's state revenues come from oil, natural gas, coal and nuclear energy deals. State revenues fund its military. Secondly, an EU dependent on imports from any geopolitical adversary will … [Read more...]
EU Taxonomy: labelling Gas âgreenâ is a gift to Putin
Many of todayâs clean energy technologies were given their first boost in the wake of the 1973 oil crisis, explains William Todts at T&E. He now hopes the current confrontation between NATO and Russia over Ukraine will shake up and deepen Europeâs commitment to the energy transition. But entirely the wrong signal was sent over the New Year, says Todts. He describes the European Commissionâs inclusion of gas in the EU Taxonomy for sustainable … [Read more...]
District Heating: policies for cutting emissions need work says IEA
District Heating policies need urgent attention according to the IEA so here in Europe it's a good moment to examine what the "Fit for 55" package means for the sector's future development. On February 10 Energy Post is hosting an online roundtable alongside MEP Pernille Weiss, MEP Morten Petersen, and MEP Grzegorz Tobiszowski - all (senior) members of the ITRE committee - to take in the viewpoints of key Member States and stakeholders (COGEN … [Read more...]
U.S. shale production is rising. But by how much more, and how fast?
The dramatic increase in gas and electricity prices worldwide has raised concerns about energy security. It why U.S. shale production is rising. But by how much more, and how fast? Ben Cahill at CSIS looks at lessons learned over the last ten years by the sector to understand the drivers. Previously, shale firms grew so fast that many investors lost a lot of money. Then, the 2020 oil shock imposed discipline and firms preserved cash, but that … [Read more...]
Using captured Methane to make all the worldâs fishmeal: a profitable revenue stream?
If the cost of capturing methane (or CO2, or anything) can be folded into the cost of making something that can be sold at a profit, methane capture will take off. Rob Jordan at the Stanford Woods Institute for the Environment explains how research there shows captured methane can be turned into fishmeal at the same price as commercial fishmeal. In some cases it can be done much more cheaply. Commercial fishmeal, used to feed farmed fish, is … [Read more...]
Will Norwayâs new government consider phasing out oil and gas?
A Labour-led left coalition won the Norwegian elections in September. The Socialist Left Party looks keen to limit new oil and gas exploration and production. The dominant Labour Party and the Center party, much less so. Still, it could be the moment when Norway starts to put the climate above its oil and gas policy, explains Silje Lundberg at Oil Change International. Until now â left or right - itâs definitely been the other way around. The … [Read more...]
Decommissioning coal, oil, gas: how funds can buy and retire the assets
Companies that want to retire their CO2-emitting assets (coal, oil, gas) can struggle to afford the cost of the decommissioning process. Brad Handler and Morgan Bazilian at the Payne Institute for Public Policy, writing for the World Economic Forum, explain how the creation of a new financial instrument, the 'carbon retirement portfolio' (CRP), could be a solution. In essence, itâs simple. Investors create a fund that buys the asset and takes the … [Read more...]
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