From the log: TOP TEN most recent signposts to the coming energy crisis
Shale shock as biggest US putative tight-oil play revised down by 96%.
21 May 2014
IEA: Opec oil supply could fall short of meeting global demand this year.
15 May 2014
Cost of new oil projects >$100, revenue per boe $72: Morgan Stanley.
11 May 2014
“Shale drillers feast on junk debt to stay on treadmill”: Bloomberg.
30 Apr 2014
Giant Kashagan oilfield could be out of production for two years.
7 Apr 2014
“Conventional peak oil is quite probably here”: ex BP geologist.
17 Feb 2014
Big oil companies struggle to justify soaring project costs.
28 Jan 2014
Former BP geologist Richard Miller: peak oil is essentially here.
23 Dec 2013
S Sudan loses 250k mbd and the talk is of global oil supply crisis.
23 Dec 2013
“The fall off in conventional oil production is real and scary.”
13 Dec 2013
- Shale shock as biggest US putative tight-oil play revised down by 96%.
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Iberdrola backs subsidies freeze on Spanish renewables, and wants British nuclear
Spain’s biggest power utility by market value says it is a sensible move for a country that has been paying too much for electricity it does not need. “What we were doing was irrational,” says Ignacio Galán, chairman. “It makes no sense. Spain is installing the most expensive technologies in Europe instead of looking for those which are cheapest.” One analyst says they fear retrospective cuts in tariffs from government. Another says a nuclear windfall tax is what they should worry about. As for plans in Britain, Galan says: ”The area that has the most uncertainty is the area of nuclear. We still don’t know how it’s going to be properly paid – what the return will be. The decision to go ahead (in a consortium with GDF Suez) is not going to be taken until the moment the framework is clear and predictable enough, with enough remuneration for those investments.”
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UK energy dependence – five hidden costs expose truth about fracking.
18 Aug 2014
Jeremy Leggett in the Guardian: “The shale boom is a bubble waiting to burst as economics of extraction falter and the trickle of bad environmental news starts to swell.”
“The vision of an energy-independent Britain, free of the clear and growing problems of overseas fuel dependency, is deeply alluring.… Read-more
The signs of energy system-change are coming think and fast now.
5 Aug 2014
Jeremy Leggett in Recharge magazine: “Some mornings these days, I open my laptop, check the energy news and have to pinch myself to make sure that I am not still dreaming, so fast are signs of system change emerging.”
“On 11 July, the feeling was particularly acute. A… Read-more
The Energy of Nations: “thriller-like”, “fast-paced”, “wonderful anecdotes”.
24 Jul 2014
Germana Canzi: “It was with a bit of trepidation that I started to read Jeremy Leggett’s most recent book,The Energy of Nations: Risk Blindness and the Road to Renaissance (Routledge, 2013). Last time I read one of Leggett’s books – The Carbon Wars – it had such an impact on me… Read-more
Solar displacing oil for lighting, en route to the rest of fossil fuels.
19 Jul 2014
Robyn Williams on ABC Radio National: “Jeremy Leggett describes kerosene lamps as the vampires of developing communities in Africa. They suck financial resources to provide pitiful light, noxious fumes, lost houses and schools due to accidents, as well as damaging emissions.”
“110 million households in Africa don’t have… Read-more
Solar on UK commercial buildings: big vacant spaces, big opportunity.
18 Jul 2014
Jeremy Leggett in the Guardian: “As the cost of solar energy plunges, the solar industry is growing at what some describe as “lightning speed”. But that is a global picture. Nationally, the situation varies greatly, depending on the attitude of the incumbent government.”
“When it comes to domestic market growth,… Read-more
The Economist on Shell, Exxon & carbon: “the elephant in the atmosphere”.
18 Jul 2014
Economist: “In September 2013 a group of institutional investors with $3 trillion of assets under management asked the 45 biggest quoted oil firms how climate change might affect their business and, in particular, whether any of their oil reserves might become “stranded assets”—unusable if laws to curb emissions of carbon… Read-more
Reports of the death of green jobs have been exaggerated.
16 Jul 2014
FT: ”Global investment in clean energy fell 12 per cent in 2013 according to Bloomberg. So are we watching the nails go in the coffin of an unaffordable technology? And has the green jobs bubble burst along with it?”“….Even while investors come to terms with yet more policy change,… Read-more
150 UK companies appeal to PM to stop undermining solar industry.
7 Jul 2014
SolarPowerPortal: “A letter to Prime Minister, David Cameron urging him to support Britain’s thriving solar industry has been signed by more than 150 businesses.”
“Signatories include Ikea, Good Energy, Loughborough University and Ecotrcity, with small companies directly involved in the solar PV industry representing the majority of
Shell is wrong to accuse Carbon Tracker of “trivialising the climate debate”.
3 Jul 2014Jeremy Leggett in Recharge: “A debate is growing in the capital markets about whether carbon-fuel assets are at risk of being stranded — rendered unuseable by trends and events, including policies to combat global warming. ExxonMobil and Shell are to be congratulated for recently injecting a much-needed degree of transparency into
- UK energy dependence – five hidden costs expose truth about fracking.
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