Citi’s prediction of peak oil demand at 92 mbd: “unusual”.

August 9, 2013 Oil 

Brad Plumer in the Washington Post: “Tally it up, and analysts at Citi think the world’s thirst for oil could peak in a few years at around 92 million barrels per day — as long as vehicle efficiency for cars and trucks keeps improving by about 2.5 percent per year. This is an unusual prediction, to say the least.” Read more

“Oil price held high by supply disruptions”: FT.

August 9, 2013 Oil 

FT: “This year was meant to mark a turning point for the oil market. An energy revolution that has been gathering pace in North America was expected to reduce the world’s dependence on crude oil from the Opec cartel of producers.” Read more

“Solar power co-operatives are fast emerging” in the UK.

August 8, 2013 Change for Good, Clean Energy 

REW: The article summarises schemes in Bristol, Brixham, Brighton and Westmill Farm. JL: Progress to date, however, pales into insignificance when compared to Germany’s.

“Renewables: a rising power”: FT on solar cost reductions.

August 8, 2013 Clean Energy 

FT: “Until now, the idea that unsubsidised solar power could make enough financial sense to be competitive with conventional electricity has been largely confined to the realms of environmental campaigners and renewable energy advocates.” Read more

Iraqi oil resurgence falters, squeezing global supply.

August 8, 2013 Oil 

FT: Things have changed since Iraq surpassed Iran last year as the second-largest Opec producer, joining an elite group of countries last year producing more than 3m barrels per day (b/d).” Read more

Crowdfunder Abundance raises £0.7m for solar in a month.

August 8, 2013 Clean Energy, Finance 

Solar Power Portal: “A renewable energy crowdfunding platform has hit its £700,000 target in order to fund two solar projects after 35 days.” Read more

Cameron backs UK fracking, citing jobs and lower gas prices.

August 8, 2013 Gas 

Guardian: David Cameron in a speech: “I think we would be making a big mistake as a nation if we did not think hard about how to encourage fracking and cheaper prices right here in the UK.” Read more

JP Morgan faces new criminal probe over MBS selling.

August 8, 2013 Finance 

FT: The Department of Justice opens a criminal probe into JP Morgan Chase’s as unprecedented scrutiny from regulators continues after the loss of $6bn in a trading debacle last year. The issue: its sale of mortgage-backed securities between 2005 and 2007.

“America is reaching the limits of its energy boom.”

August 7, 2013 Gas, Oil 
MD of Douglas-Westwood Stephen Kopits, Presentation to Center for Strategic and International Studies, Washington DC (no url): Conclusions: “US shale gas remains an important source of supply, but heady days of growth are probably over. Growth has fallen dramatically (all lower 48) from 12% in July 2012 to 3%. Coal to gas switching has reversed since Q3 2102.” Read more

“Analysts say investor interest (in Big Oil) has rarely been lower”: FT.

August 7, 2013 Finance, Gas, Oil 

Lex in the FT: “Second-quarter results were a breathless mix of missed expectations, rising costs, lower upstream production, and deteriorating downstream operations. Analysts say investor interest in the big energy companies has rarely been lower.” Read more

Expert questions latest industry estimates for US shale oil production.

August 6, 2013 Oil 

Art Berman on PetroleumTruthReport: “Wood Mackenzie reported on July 30, 2013 that U.S. shale plays will produce 5 million barrels of oil per day by 2019, at least half coming from the Eagle Ford and Bakken shale plays.”  Read more

“Coal at risk as global lenders drop financing on climate”: Bloomberg.

August 6, 2013 Change for Good 

Bloomberg: “The world’s richest nations, moving to combat global warming, are cutting government support for new coal-burning power plants in developing countries, dealing a blow to the world’s dominant source of electricity.” Read more

NOAA: Arctic ice disappeared in 2012 faster than ever before.

August 6, 2013 Climate 

Guardian: “The Arctic lost record amounts of sea ice last year and is changing at an unprecedented pace due to climate change, a landmark climate study said on Tuesday.” Read more

Emergency declared as radioactive water spills out of Fukushima plant.

August 6, 2013 Nuclear 

Guardian: “Highly radioactive water seeping into the ocean from Japan’s crippled Fukushima nuclear plant is creating an “emergency” that the operator is struggling to contain, according to the country’s nuclear watchdog.” Read more

“Australia’s coal miners feel the heat as China investment cools”: FT.

August 6, 2013 Coal 

FT: The crisis in the coal industry is the subject of fierce debate in Australia. Evidence of decline is everywhere.

“Frantic fracking sends US natural gas prices into freefall”: FT headline.

August 6, 2013 Gas 

FT: Nerves are frayed as natural gas prices in the Marcellus Shale region are in freefall. The decline is ominous for producers such as gas companies like Cabot.

Osborne says UK must not miss out on shale gas jobs and low gas prices.

August 5, 2013 Gas 

Guardian: “George Osborne has sent a strong message to the Conservative rural heartlands, warning that he will fight any Tory backlash against fracking and saying that it would be a real tragedy if Britain allowed the shale gas energy revolution to bypass the UK.” Read more

Oil companies may be stripped of physical oil trading, amid fixing fears.

August 5, 2013 Finance, Oil 

FT: “Two weeks (ago)the European Commission had swooped on offices across Europe in pursuit of any evidence of price fixing in oil markets.” Read more

23% of asset owners factored climate into decisions in 2012 (up from 9%).

August 5, 2013 Climate, Finance 

A greater number of both institutional asset owners and asset managers are either avoiding or divesting from investments over climate concerns, according to a new study from investor climate change groups. Read more

Oil company gag bans two children for life from talking about fracking.

August 5, 2013 Gas, Oil 

Guardian: “Two young in Pennsylvania were banned from talking about fracking for the rest of their lives under a gag order imposed under a settlement reached by their parents with a leading oil and gas company.” Read more