“We have arrived in a time of consequences”.

James Murray on Business Green: Jeremy Leggett’s powerful and sobering new book, The Energy of Nations – Risk Blindness and the Road to Renaissance: part history, part diary, part polemic – this is an essential read for anyone with an interest in the global energy industry, as well as timely warning about the many structural risks that continue to blight our economy.”
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Thirteen major banks issue Green Bond Development principles.

January 13, 2014 Clean Energy, Finance 

Green Bonds Initiative: “We blogged the draft version a few months ago; at that stage it was just Citi and Bank of America Merrill Lynch. Things have moved forward and yesterday a more developed version was published. Now there are 13 banks involved, with JP Morgan and Credit Agricole joining the first two in the driver’s seat.”
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UK PM: ‘We’re going all out for shale,’ & those opposing are ‘irrational’.

January 13, 2014 Gas, Oil 

Guardian: “David Cameron is to declare that his government is “going all out for shale” as he announces that councils will be entitled to keep 100% of business rates raised from fracking sites in a deal expected to generate millions of pounds for local authorities.”
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“Total joins UK pursuit of shale boom”: FT.

January 11, 2014 Gas, Oil 

FT: “Total of France is to become the first major oil company to explore for shale gas in the UK, in a big boost for government efforts to create a US-style fracking boom on British soil.” Read more

Black outlook for coal even in China: FT Lex.

January 9, 2014 Coal, Finance 

FT: “Shaanxi Coal Industry is the one that just halved its planned listing. Shaanxi has not said why, but it probably has as much to do with the outlook for China’s coal industry as with the Shanghai market.” Read more

UK PM links current floods to climate change: “power of context” at work.

January 8, 2014 Climate, Commentaries 

Business Green: “Responding to questions from Labour’s Ed Miliband and the Lib Dems’ Tim Farron on, respectively, the adequacy of Defra’s flood preparedness and the link between climate change and increasing extreme weather risks, Cameron promised the government would report back on its flood resilience strategy and acknowledged that, while “colleagues… can argue about whether [extreme weather] is linked to climate change or not, I very much suspect that it is”.” Read more

Wind energy helps ward off power outages in US icy winter blast.

January 8, 2014 Clean Energy 

REW.com: “Over the last 48 hours, wind energy played a critical role in keeping homeowners warm as grid operators across the Eastern and Central U.S. worked overtime to keep up with record-breaking winter demand.” Read more

JP Morgan pays £2.6bn to head off criminal prosecution over Madoff.

January 7, 2014 Finance 

FT: “JP Morgan Chase bankers had concerns about Bernard Madoff for more than a decade but failed to inform US authorities, according to a damning assessment of the bank’s serial inaction by the US attorney for Manhattan.” Read more

The slow development of China’s shale: “there must be a problem”.

January 7, 2014 Gas, Oil 

FT: “….For all the excitement, the future of China’s shale remains cloudy. Progress so far has been disappointing, and shale production in China faces many challenges. Ultimately, its development will be a test not only of the country’s geology and the ingenuity of its engineers, but of its entire economic model.” Read more

“We need to get our mindset away from scarcity”, it’s time to export oil.

January 7, 2014 Oil 

FT: “America’s domestic energy revolution helped drive a decline in the US trade deficit to its lowest level in four years, bolstering calls in Washington for the Obama administration to relax decades-old restrictions on the export of crude oil.” Read more

EU ministers call for 2030 renewables target. UK opposes.

January 7, 2014 Clean Energy, Climate 

Guardian: “Ministers from Germany, France and six other countries have called for the European Union to set a 2030 goal for renewable energy use, in opposition to their British counterpart who advocates a sole greenhouse gas emissions target.” Read more

UN official in charge of climate talks warns world is running out of time.

January 6, 2014 Climate 

RTCC.com: “A draft text for a global climate change treaty set to be agreed in 2015 will be presented to governments as early as November this year, according to the UN official in charge of negotiations.” Read more

“Brazil’s oil euphoria hits reality hard”: Washington Post.

January 6, 2014 Oil 

WP: “When fields said to hold billions of barrels of oil were discovered off the coast here, exuberant government officials said the deep-sea prize would turn Brazil into a major energy player. More than six years later, the outlook for Brazil’s oil industry, much like the Brazilian economy itself, is more sobering. Oil production is stagnant, the state-controlled oil company, Petrobras, is hobbled by debt, and foreign oil companies are wary of investing here.” Read more

Post-2005 growth in global oil supply: all unconventional, NGL, or biofuels.

January 6, 2014 Gas, Oil 

Euan Means on Energy Matters: “Global conventional crude oil and condensate production has been following a bumpy plateau just over 73 million barrels per day since May 2005.” Read more

Deutsche Bank hails second solar ‘gold rush’: UK in 6th place.

January 6, 2014 Clean Energy 

PV Tech: “In a new detailed report by Deutsche Bank’s US-based solar industry analysts, the PV industry is said to be heading into its “second gold rush” with a base demand of 46GW in 2014, topped by an expected 56GW of demand in 2015.”

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“Shale boom leaves investors underwhelmed.”

January 5, 2014 Gas, Oil 

FT: “Overall ….the US independent exploration and production sector has achieved spectacular feats in developing shale production, but done nothing to excite its shareholders for years.” Read more

US oil and gas companies slash spending as foreign investment dries up.

January 3, 2014 Gas, Oil 

ASPO USA: “The large deficits being run by the US shale oil and gas industry are starting to be reported in the financial press. Last week the Wall Street Journal ran a story that large foreign investments in US shale oil and gas leases are drying up rapidly. In 2013, foreign companies spent only $3.4 billion on stakes in US shale formations which was less than half 2012 investments and a tenth of what they spent in 2011.”
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Ford to unveil a solar-powered hybrid car.

January 3, 2014 Clean Energy, Oil 

WSJ blog: “Ford Motor plans to roll out a solar-powered version of its C-Max hybrid compact car during next week’s International Consumer Electronics Show in Las Vegas. ….The C-Max concept car uses solar cells on its roof to charge a range-extending battery instead of plugging into the electrical grid.” Read more

Minnesota Judge: solar beats natural gas for utility procurement

January 3, 2014 Clean Energy, Gas 

REW.com: “In what is being called an unprecedented decision, solar energy went head-to-head with natural gas in a competitive evaluation for utility resource planning — and solar came out on top.” Read more

“Solar panel craze on Wall Street”: NY Times.

January 3, 2014 Clean Energy, Finance 

NYT: “….not even Mr. Musk, the billionaire behind the Tesla electric car, could have foreseen the solar power craze that is sweeping Wall Street. He and his cousins Peter and Lyndon Rive are riding a wave of exuberance over the industry and their young business, SolarCity.” Read more