Drumbeat: November 9, 2011
Posted by Leanan on November 9, 2011 - 10:50am
Energy will become “viciously more expensive” and polluting if governments don’t promote renewable and nuclear power in the next two decades instead of burning coal, the International Energy Agency said.
Global demand for energy is set to increase 40 percent by 2035, the Paris-based agency said today in its annual World Energy Outlook report. Consumption will rise 1.3 percent a year to 16.96 billion metric tons of oil equivalent in 2035, spurred by China and other emerging economies, the IEA said.
Fossil-fuel consumers worldwide received about six times more state subsidies last year than were given to the renewable-energy industry, according to the chief adviser to oil-importing nations.
Aid to cut the price of gasoline, gas and coal rose by more than a third to $409 billion as global energy prices increased, compared with $66 billion of support for biofuels, wind power and solar energy, the Paris-based International Energy Agency said today in its World Energy Outlook.
Oil declined for the first time in six days in New York after political turmoil in Italy revived concern that Europe’s debt crisis may continue to spread.
Futures fell as much as 1.9 percent after reaching their highest price in more than three months. European equities declined and the euro sank against the dollar as the cost of insuring against Italian default rose to a record. The Energy Department may say today gasoline supplies rose by 1 million barrels, analysts indicated in a Bloomberg News survey.
LONDON (Reuters) - Oil prices could hit economically damaging record highs if unrest in Africa and the Gulf cuts investment in output, the West's energy watchdog warned oil producers, which said the real problem was likely defaults among euro zone members and banks.
The International Energy Agency (IEA), which advises major oil-consuming countries on energy policies, said on Wednesday oil prices could spike by a third to above their all-time high of $147 a barrel. The Organisation of the Petroleum Exporting Countries (OPEC) said the main risks were of price falls.
"We are concerned about some of uncertainties, we are concern about EU debt, we are concern about United States' unemployment rate," OPEC Secretary General Abdallah Salem El-Badri told Press TV on Tuesday.
El-Badri also assured the consuming nations that OPEC, which is responsible for more than 40 percent of global oil output, is ready to meet the global demand for oil.
Read the ten major forecasts from Opec's latest World Oil Outlook, ranging from the challenges and prospects for oil developers to the intense competition they will face over the next 25 years.
Unlocking vast reserves of shale gas could solve the energy crisis, the jobs crisis, and the deficit. Now, about fracking’s safety ...
AUSTRALIA is about to enter a ''golden age of gas'' that will last for many decades, the head of the peak oil and gas industry body has declared.
Both coal seam gas and liquefied natural gas are expected to benefit in the short term from the price on carbon, because they generally emit fewer greenhouse gases than coal and at present they are cheaper than solar, wind or geothermal power.
The leaders of Germany and Russia are opening a euro7.4 billion ($10.2 billion) natural gas pipeline that links western Europe directly with Siberia's vast gas reserves.
Chancellor Angela Merkel and President Dmitry Medvedev met Tuesday in the village of Lubmin on Germany's Baltic Sea coast, where the 760-mile (1,200-kilometer) Nord Stream underwater pipeline reaches land.
More than 3,500 Syrians have been killed in a crackdown by the government of President Bashar Assad in an uprising that has persisted for eight months, the United Nations said Tuesday, as the government pressed its assault on Homs, the city where the uprising has demonstrated its greatest strength.
You may have heard of "Dirty Oil", "Ethical Oil", "Bloody Oil" or even "Conflict Oil"-- but have you heard of Apartheid Oil? This is the question that Edmonton based writer and activist Macdonald Stainsby has been asking himself since he visited the Middle East and Northern Africa earlier this year.
In a four part series to be release over the next two weeks, Stainsby examines key shifts in technology and politics that could change the face of oil extraction in Israel/Palestine, Jordan and Morocco. As an introduction to the series, The Media Co-op had a chance to talk with Stainsby about what he learned on his visit, and through the writing process.
WASHINGTON — The Obama administration on Tuesday announced its proposed five-year plan for offshore oil drilling, which calls for opening new areas in the Gulf of Mexico and Alaska but bars development along the East and West Coasts.
The plan disappointed environmentalists but fell far short of what the oil industry and its Congressional supporters demanded.
The State Department's inspector general has agreed to probe the agency's environmental review of the proposed, 1,700-mile Keystone XL tar sands pipeline, likely delaying President Obama's decision on the controversial project.
The U.S. State Department is weighing whether to seek a rerouting of TransCanada Corp. (TRP)’s planned $7 billion Keystone XL pipeline away from the Sandhills region of Nebraska, a department official said.
The department is considering how to respond to concern among Nebraska citizens and public officials about the risk that TransCanada’s current plans may pose to the Sandhills, said the official familiar with the deliberations, who spoke on condition of anonymity yesterday about internal discussions.
According to the Wall Street Journal, Exxon Mobil announced it expects to pay $135 million in cleanup efforts related to the oil spill that occurred in July in Montana.
WASHINGTON – With the White House due to deliver a response to a subpoena to produce internal documents on its dealings with failed energy company Solyndra on Thursday, administration officials and GOP lawmakers are exchanging charges that the other is acting in bad faith.
BERLIN (AP) — German engineering company Siemens says it has recently landed new wind power contracts worth more than $900 million in North America and the Caribbean.
Siemens AG said in a statement Monday that an agreement was reached late last month to build a new wind farm in Puerto Rico with a capacity of 100 megawatts — or about a tenth of an average nuclear reactor's power.
A West Virginia wind farm that I wrote about last month because of its battery installation was the site of a big bird kill in October, according to a consultant’s report for the Fish and Wildlife Service. And it wasn’t the blades of the wind machines that killed the birds, according to the consultant; they seem to have been drawn to the lighting around the batteries and an associated electrical substation.
Most of the biggest solar-equipment makers may disappear in the next few years as plunging prices erode margins and drive the weakest out of business, according to Trina Solar Ltd. (TSL), the fifth-largest supplier of solar panels.
For decades the story of technology has been dominated, in the popular mind and to a large extent in reality, by computing and the things you can do with it. Moore’s Law — in which the price of computing power falls roughly 50 percent every 18 months — has powered an ever-expanding range of applications, from faxes to Facebook.
Our mastery of the material world, on the other hand, has advanced much more slowly. The sources of energy, the way we move stuff around, are much the same as they were a generation ago.
But that may be about to change. We are, or at least we should be, on the cusp of an energy transformation, driven by the rapidly falling cost of solar power. That’s right, solar power.
The car culture we’ve cultivated since Eisenhower’s highway project won’t survive when gas prices get too high, and even the electric car requires power generation, which requires coal.
It’s not likely that solar and wind can power the vehicles of the future unless those vehicles drive a lot less. Alternative modes of transporation, such as rail, are a key ingredient.
TRENTON – On Monday, Gov. Chris Christie announced plans to appeal a court ruling that dismissed New Jersey’s legal efforts to force owners of a coal-fired Pennsylvania power plan to reduce its pollution.
However, the governor chose not to support a broader effort by the federal Environmental Protection Agency to curb interstate air pollution.
Six activists from environmental group Greenpeace scaled a crane at the construction site of a coal-fired power plant in South Africa on Monday and unfurled banners calling it a "climate killer".
BEIJING // The pristine waters and ice sheets of the Arctic have long captured the imagination of explorers, but with global warming causing large-scale melting and opening up the region for resource extraction, interest is now also growing among governments and energy giants.
Chief among the outside players is China, which has a burning need for new sources of energy to fuel an economy that is the world's second-largest and which continues to grow at more than nine per cent a year.
Delaying an international deal to protect the climate is a “false economy” because costs to deal with increasing greenhouse gases in the atmosphere will surge, the International Energy Agency estimated.
“For every $1 of investment avoided before 2020, an additional $4.30 would need to be spent after 2020 to compensate for the increased emissions,” the Paris-based IEA said today in its World Energy Outlook report.