Another analyst concludes the shale oil party is nearly over.

December 29, 2013 Gas, Oil 

ZeroHedge:” “Phibro’s (currently Astenback Capital Management) Andy Hall ….warning to all the shale oil optimists: “According to the DOE data, for Bakken and Eagle Ford the legacy well decline rate has been running at either side of 6.5 per cent per month…” Read more

Wyoming shale gas wells go unreclaimed as boom turns to bust.

December 24, 2013 Gas, Oil 

NYT: “Hundreds of abandoned drilling wells dot eastern Wyoming like sagebrush, vestiges of a natural gas boom that has been drying up in recent years as prices have plummeted. The companies that once operated the wells have all but vanished into the prairie, many seeking bankruptcy protection and unable to pay the cost of reclaiming the land they leased.” Read more

Former BP geologist Richard Miller: peak oil is essentially here.

Nafeez Ahmed interview with Richard Miller in the Guardian: “A former BP geologist has warned that the age of cheap oil is long gone, bringing with it the danger of “continuous recession” and increased risk of conflict and hunger.” Read more

PBoC injects $50bn into Chinese economy to ease credit crunch fear.

December 23, 2013 Finance 

Guardian: “The People’s Bank of China is seeking to allay fears of a credit crunch after a shortage of day-to-day cash among commercial banks in the world’s second biggest economy drove market interest rates to almost 10% on Monday.” Read more

S Sudan loses 250k mbd and the talk is of global oil supply crisis.

FT: “The crisis in South Sudan, which has left hundreds dead, has started to hit global oil supplies, compounding the effects of production losses in Nigeria and Libya and putting upward pressure on prices. Africa has replaced the Middle East as the focus of concern over global oil supplies due to recent disruptions in the three petroleum-rich countries.” Read more

Solar farms = industrialisation of the UK countryside? Try fracking.

December 22, 2013 Clean Energy, Commentaries 

Guardian:”….Solar farms, each with thousands of panels, are popping up all over the country and now number 250. Costs have halved in two years and are still falling fast – on track to be cheaper than both onshore wind and nuclear power within a few years – and solar is by far the public’s most popular energy technology.” Read more

UK spying on EU makes Brussels clearance for Hinkley less likely.

December 21, 2013 Nuclear 

The latest revelations by Ed Snowdon feature a claim that the UK & US spied on EU Commission vice-president Joaquín Almunia, responsible for competition matters including state aids. Read more

Pennsylvania supreme court strikes key lax fracking law.

December 20, 2013 Gas, Oil 

Guardian: “The energy industry and policy makers in Pennsylvania, the heart of the nation’s gas drilling boom, are thinking about their next moves after the state’s highest court threw out significant portions of a law that limited the power of cities and counties to regulate the industry.” Read more

Conservative groups spend up to $1bn a year to fight climate action.

December 20, 2013 Climate 

Guardian: “Conservative groups may have spent up to $1bn a year on the effort to deny science and oppose action on climate change, according to the first extensive study into the anatomy of the anti-climate effort.” Read more

UK closes in on half a million solar homes but solar factory shuts.

December 20, 2013 Clean Energy 

Solar Power Portal: “Over 495,000 homes across the UK are now solar powered, according to the latest statistics published by the Department of Energy and Climate Change (DECC).” Read more

SSE to close two coal-fired power plants.

December 20, 2013 Clean Energy, Coal 

Guardian: “Growing concerns about a future power generating capacity crunch were highlighted on Friday when SSE unveiled plans to close two coal-fired power stations, one of them the huge Ferrybridge complex in West Yorkshire.” Read more

“Global solar industry is on the rebound”: IHS.

December 19, 2013 Clean Energy  “After two years of a punishing downturn, the global solar industry is on the rebound,” says Ash Sharma, senior research director for solar at IHS.” Read more

British businesses to be paid to switch off to stop blackouts in 2014.

December 19, 2013 Clean Energy, Coal, Gas, Nuclear 

FT: “Businesses will be paid to cut their energy use on winter evenings next year, highlighting the rising threat of blackouts as the UK’s ageing coal plants are closed. The proposal comes amid repeated warnings from the energy regulator Ofgem about the increased risk of power shortages by the middle of the decade.” Read more

European Commission begins state-aid investigation into Hinkley.

December 18, 2013 Nuclear 

Guardian: “The European commission has started an investigation into UK plans to subsidise the construction and operation of Hinkley Point C nuclear power station in Somerset, in a challenge to the government’s plans to overhaul Britain’s creaking energy infrastructure.” Read more

HMG to open two thirds of UK to fracking despite evidence of harm.

December 17, 2013 Climate, Gas, Oil 

TreeAlerts: “The UK government is facing sharp criticism again today, as it steps up its support for the shale gas industry in an attempt to “open two-thirds of England up to fracking”.” Read more

US shale: “not a revolution but a retirement party”.

December 17, 2013 Gas, Oil 

Art Berman’s latest presentation to clients of investment banks and regional geological societies: “Shale plays are not profitable at the corporate level. At the field level, they are only marginally profitable in sweet spots. U.S. production is not sustainable at present levels and the life-cycle of shale plays is more limited than many imagine. International plays will develop slowly and will encounter obstacles not seen in the U.S. and Canada. U.S. Energy Independence is delusional: production from shale has provided a few more years before supply constraint and much higher prices become reality. Shale plays are not a revolution—they are a retirement party.”
Read more

Proving renewables can run modern economies: one solar light at a time.

Interview with Jeremy Leggett on Business Green Solar Hub (sponsored by Solarcentury and SolarAid): Q: SolarAid and SunnyMoney recently won the Euro Solar award, what do you think others can learn from that model? A: SolarAid and SunnyMoney believe that modern economies can, and will, be run by renewables in the future, and we’re proving it one solar light at a time.” Read more

Coal set to grow at a “relentless pace” through 2018: IEA.

December 16, 2013 Climate, Coal 

NYT: “According to a report by the International Energy Agency, ….global consumption of coal, a major source of the greenhouse gases blamed for rising global temperatures and other pollutants, is likely to continue to grow at “a relentless pace” through 2018.” Read more

EIA’s latest bullish forecasts for tight oil peak: 4.8 mbd in 2021.

December 16, 2013 Gas, Oil 

Bloomberg: “Production from shale formations in the United States, which has led to an unexpected reversal in long declining oil output, will peak at 4.8 million barrels per day (bpd) in 2021, according to an Energy Information Administration forecast issued on Monday.” Read more

“We don’t want to see the Fall of Saigon scenario”.

December 16, 2013 Climate, Coal, Finance, Gas, Oil 

Carbon Tracker Quarterly: “The beginning of December saw Carbon Tracker announce our first CEO. Anthony Hobley will take the helm on February 1 2014 and Carbon Tracker founder, Mark Campanale, becomes Executive Deputy Chairman.” Read more