Nouriel Roubini, One on One: More Doom and Gloom

Index Universe (IU.com): You There are improving fundamentals. There is a global recovery. But that justifies oil going from $30 to maybe $50. I think the other $30 is all speculative demand feeding on it

Daniel Yergin on oil: Expect $60 to $100 a barrel

If anyone should know about the outlook for oil, it would be Daniel Yergin. He’s the Pulitzer Prize-winning author of The Prize, a marvelously documented history of the oil industry that frames the origins of OPEC. Yergin was interviewed on a Bloomberg radio program this week. Here are excerpts: –Oil demand: “We think the industrial […]

Poll: US belief in global warming is cooling

Americans seem to be cooling toward global warming. Just 57 percent think there is solid evidence the world is getting warmer, down 20 points in just three years, a new poll says. And the share of people who believe pollution caused by humans is causing temperatures to rise has also taken a dip, even as […]

European Energy Firms Fall Short in Gazprom Purchases

European energy companies, faced with weakening demand and plentiful lower-cost fuel supplies, have bought far less natural gas from Russia’s OAO Gazprom this year than they are obliged to under long-term contracts — setting the scene for a potentially damaging showdown with Moscow. A person close to Gazprom’s export arm said purchases by the company’s […]

China steps up, slowly but surely

China has begun to address its emissions problem. The steps are driven in part by the parochial concern that climate change could worsen the flooding that plagues the country’s low-lying coastal regions, including Shanghai, and cause water shortages in western areas as glaciers in the Himalayas melt away. But China has also begun to see […]

Hydropower industry braces for glacier-free future

From the Himalayas to the Andes, faster-melting glaciers spell short-term opportunities — and long-term risks — for hydroelectric power and the engineering and construction industries it drives. The most widely used form of renewable energy globally, hydro meets more than half Switzerland’s energy needs. As summers dry and glaciers that help drive turbines with meltwater […]

Renewables targets will hinder decarbonisation, warn business leaders

The government yesterday came under fire from business leaders for sticking with its “ludicrous” target to source 32 per cent of its electricity from renewable sources by 2020. Earlier this year, a CBI-commissioned report from consultants McKinsey advised the government to downgrade the renewables target to 25 per cent and give the go-ahead for up […]

Wind industry targets training for 60,000 green collar workers

The British Wind Energy Association (BWEA) yesterday inked a deal with representatives from the government’s skills programme, designed to provide training for up to 60,000 new wind energy technicians and engineers. The new Wind & Renewables Skills Sector Accord was signed by representatives of the wind energy industry, including Paul Cowling, UK managing director at […]

Azerbaijan and Turkey clash over energy

Azerbaijan’s frustration with Turkey’s inability or unwillingness to address present and future bilateral contract terms has now broken out into the open at the highest level. Azerbaijan’s President Ilham Aliev was this week widely quoted in the press as saying publicly, “What state [meaning Azerbaijan] would agree to sell its natural resources for 30% of […]

Bolivia Gas Industry Losing Clients, Former President Says

Bolivia, which holds South America’s second-largest natural-gas reserves, has seen reduced gas output and investments since the government took greater control of its energy assets, former President Jorge Quiroga said. Since President Evo Morales’s government raised taxes and forced companies to renegotiate energy contracts three years ago, it has stifled investments, said Quiroga, who held […]

Update: Warming continues to affect far north

WASHINGTON Warming temperatures continue in the polar north, changing wind patterns, melting sea ice and glaciers and affecting ocean and land life, the report said. The Arctic is a sort of natural regulator in terms of the amount of heat stored in the ocean and ice, “especially the loss of sea ice is messing with […]

Australia faces famine, expert warns

A food production expert says Australia may face a massive famine if governments fail to address an impending global food shortage. A conference of food productivity experts in Sydney this week heard the greatest threat to the world is not climate change, but food production on land and in the water. Science communicator Julian Cribb, […]

'Stealth' wind turbine deployed

A wind turbine blade that absorbs radar signals has been demonstrated at a wind farm in eastern England. Wind turbines confuse aviation radar signals, making aircraft in wind farms’ vicinities difficult to track. Defence firm Qinetiq and turbine manufacturing firm Vestas are developing “stealth turbines”, with radar-absorbing materials and coatings. The five-year effort may help […]

Thinking solar power? It's never been cheaper

Lots of government incentives, plus production costs have dropped a third NEW YORK – Jillian Lung says she’s no environmentalist. Still, she couldn’t pass up a chance to install a carpet of solar panels atop her co-op in Queens. “At these prices, why not?” Lung said. The government has plowed so much cash into the […]

Solar recovery to start, but 2010 outlook dim

FRANKFURT (Reuters) – European solar equipment makers are slowly emerging from the crisis that has hit the sector, quarterly results will show, but the outlook beyond 2009 will be uncertain due to tight credit and oversupply. Europe’s solar companies are expected to show signs of recovery when third-quarter earnings kick off next week, with analysts […]

Oil may hit $100/barrel on weak dollar: Deutsche

NEW YORK (Reuters) – Oil prices may surge to $100 a barrel sometime in the next two quarters as the U.S. dollar weakens against the euro, Deutsche Bank (DBKGn.DE)(DB.N) energy economist Adam Sieminski said Friday. “We think the dollar could weaken further to $1.60 against the euro and it implies pushing oil prices to that […]

Opinion: ESAI sees potential oil bull trap

Oct 22 – ESAI estimates the global contraction in oil demand will average around 1.75 million b/d in 2009 and then oil demand will grow by at least 1.3 million b/d in 2010. OPEC production has begun creeping up, although quota discipline remains impressive in the face of almost $80 crude oil prices. The combination […]

To Cut Global Warming, Swedes Study Their Plates

STOCKHOLM But if a new experiment here succeeds, she and millions of other Swedes will soon find out. New labels listing the carbon dioxide emissions associated with the production of foods, from whole wheat pasta to fast food burgers, are appearing on some grocery items and restaurant menus around the country. People who live to […]

Obama says U.S. must win clean-energy race

Speaking at MIT, the president says the nation that leads in the alternative-energy field will also lead the world. Later today, Obama will focus on a different kind of power at two fundraisers. Reporting from Washington – President Obama, citing a global competition for development of clean-energy alternatives to oil, insisted today that the United […]

Our First Peak Oil Recession

Several presenters at the Association for the Study of Peak Oil (ASPO) conference two weeks ago used measures of GDP to express the economy’s tolerance limit for high oil prices. In essence, OECD countries are simply getting squeezed out of the market as the global drivers of demand shift to the developing world. When the […]

Venezuela Seeks 20% Cut In Energy Use Amid Drought

Venezuelan leader Hugo Chavez is urging a nationwide 20% reduction in energy use as drought hits several regions of this oil-rich nation and puts a strain on electricity grids. “There are parts of the country that haven’t seen rain all year,” Chavez said late Wednesday during a televised meeting with his Cabinet. He told residents […]

Energy security, eh?

South Korea may be doing a China. Korea National Oil Company’s C$1.8 billion ($1.7 billion) purchase of Canadian Harvest Energy Trust secures future oil supplies, like recent Chinese deals in Canada and elsewhere. With oil shortages possible in the medium term, that makes sense. But Korea can’t play rough, so KNOC must stick to countries […]

More international energy players likely to make acquisitions in Canada

Canada is one of the few regions left in the world that has a multitude of bite-sized firms exploiting its vast oil and gas resources, making it fertile ground for reserve-hungry global players to launch acquisitions. “I think that Canada is an attractive area because there are lots of relatively small independent companies in Canada, […]

Crisis-hit Middle East sees recovery signs

The Middle East faces its biggest challenge in years, with the worst financial crisis since the 1930s threatening oil exporters, but investor appetite is returning after state intervention and recovering crude prices. “The Gulf not only looks to have braved the downturn but also to have been well placed to catch early the tail wind […]

Biofuels could increase greenhouse gases: US studies

US experts warn that rules governing biofuel production encourage deforestation and mean the technology is therefore a “false” method of reducing greenhouse gas emissions. In a study to be published Friday in the US journal Science, a group of 13 scientists called for the rules, which contain a loophole exempting carbon dioxide emitted by bioenergy […]

New School of Thought Brings Energy to 'the Dismal Science'

SYRACUSE, N.Y. — The financial crisis and subsequent global recession have led to much soul-searching among economists, the vast majority of whom never saw it coming. But were their assumptions and models wrong only because of minor errors or because today’s dominant economic thinking violates the laws of physics? A small but growing group of […]

Exxon Executive Stomped in Dispute Over $15 Billion Gas Project

(Bloomberg) — An Exxon Mobil Corp. executive overseeing the company Ross declined to provide details on Wright

Eyes on oil output as majors battle refining slump

SAN FRANCISCO (Reuters) – This quarter’s earnings from oil majors like Exxon Mobil Corp and BP Plc will put the focus on their integrated structure as they bank on rebounding oil prices to offset dismal refining results. Refineries are struggling as demand remains limp and the cost of their input – oil – keeps rising. […]

EPA cracks the whip on coal-fired power plants

Agency moves to settle lawsuit by vowing stricter emissions rules by 2011 In a move praised by activists as a way to save lives but criticized by industry as potentially driving up electricity costs, the Obama administration has agreed to adopt rules reducing toxic emissions of mercury, soot and other chemicals from all coal-fired power […]

New York's natural gas battle

The Marcellus Shale is a gold mine of natural gas – pitting gas companies and farmers against locals and environmentalists. (Fortune Magazine) — The farmland around the college town of Oneonta, N.Y., is punctuated by barns and cows. But the quiet setting belies a battle that is raging over the Marcellus Shale, a largely untapped […]

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