Total tries to sell stake in Azeri gas field in face of cost.

February 28, 2014 Finance, Gas 

FT: “Total is in talks to sell its stake in a huge gasfield in Azerbaijan after it baulked at the enormous cost of the project, which would deliver Caspian gas directly to European markets for the first time.”
Read more

KXL delayed for more than a year, antagonists agree.

February 28, 2014 Oil 

John Dizard in the FT: “The enviros and the energy industry’s political people on K street in Washington rarely see matters the same way, butboth groups now privately agree that the proposed Keystone XL pipeline from Alberta’s oil sands to the US Midwest isdead for more than a year, and probably much longer.”
Read more

“Dream of U.S. oil independence slams against shale costs.”

February 27, 2014 Gas, Oil 

Bloomberg:  ”The path toward U.S. energy independence, made possible by a boom in shale oil, will be much harder than it seems. Just a few of the roadblocks: Independent producers will spend $1.50 drilling this year for every dollar they get back.” Read more

“Beginning of the end” as oil companies cut back on spending?

February 26, 2014 Gas, Oil 

Gail Tvarberg on The Energy Collective: “Steve Kopits recently gave a presentation explaining our current predicament: the cost of oil extraction has been rising rapidly (10.9% per year) but oil prices have been flat. Major oil companies are finding their profits squeezed, and have recently announced plans to sell off part of their assets in order to have funds to pay their dividends.”
Read more

China’s air pollution resembles nuclear winter, say scientists.

February 25, 2014 Climate, Coal 

Guardian: “Chinese scientists have warned that the country’s toxic air pollution is now so bad that it resembles a nuclear winter, slowing photosynthesis in plants – and potentially wreaking havoc on the country’s food supply.”
Read more

Unusual extreme weather in 2014 linked to climate change: WMO.

February 25, 2014 Climate 

Guardian: “There have been heatwaves in Slovenia and Australia, snow in Vietnam and the return of the polar vortex to North America.”
Read more

“This might be the thing that triggers the change” on climate change.

February 24, 2014 Clean Energy, Climate, Coal, Commentaries, Finance, Gas, Oil 

Jeremy Leggett Dutch TV interview in English: @Shell’s problems, stranded assets, capex pressure, peak oil, climate, energy transition, kitchen sink.

How to renewable-power the States, state by state.

February 24, 2014 Clean Energy “….Back in 2011 Stanford professor Mark Jacobsen envisioned what that might require, and followed that up with an analysis of how to accomplish it in New York State. ….Now he’s extended his analysis to all 50 U.S. states, laying out a resource roadmap to how each of them could meet 100 percent of their energy needs (electricity, transportation, heating) through renewable sources by 2050 — excluding nuclear, ethanol and other biofuels.”
Read more

“Why coal and many oil investments are losing luster.”

February 24, 2014 Climate, Coal, Commentaries, Finance, Gas, Oil 

Jeremy Leggett in Fortune magazine: “Many who worry about climate change have long been puzzled by the hundreds of billions of dollars that coal, oil, and gas companies routinely spend on developing their reserves, and finding and developing new reserves. These investments seem unstoppable, despite countless warnings that carbon emissions damage the global environment and economy.”
Read more

Evidence grows of no net climate benefit from gas.

February 19, 2014 Climate, Gas 

Climate Progress: “The evidence is mounting that natural gas has no net climate benefit in any timescale that matters to humanity. In the real world, natural gas is not a “bridge” fuel to a carbon-free economy for two key reasons.”
Read more

“Peasants’ revolt – Romania at war with itself over fracking.”

February 18, 2014 Gas, Oil 

Channel 4 News: “They are the unlikeliest of eco-protesters, a lifetime of hardship engraved on their faces. Wrapped up in scarves and propped up on walking sticks, dozens have hiked through snow-covered fields to march.”
Read more

UK factories shut down at some peak times to avoid high power costs.

February 18, 2014 Coal, Gas, Nuclear 

FT: “Cripplingly high power costs are forcing some of Britain’s heavy manufacturers to shut down their entire operation at peak times, with furnaces cooling and workers shivering in cold, darkened offices.”
Read more

“(The) thesis is compelling. We face an existential threat.”

February 17, 2014 Clean Energy, Climate, Coal, Commentaries, Finance, Gas, Oil 

Blue&Green: “Jeremy Leggett is a leading advocate of clean energy. At a recent Forum for the Future event, he gave an impassioned call to arms for renewables. His latest book is The Energy of Nations: Risk Blindness and the Road to Renaissance.”
Read more

Three more ex Barclays staff charged by SFO with LIBOR fraud.

February 17, 2014 Finance 

FT: “Three former employees at Barclays will face criminal charges emanating from the UK Serious Fraud Office’s investigation into alleged Libor manipulation.”
Read more

“Conventional peak oil is quite probably here”: ex BP geologist. Steve Andrews interview of Dr. Richard G. Miller. “Trained as a geologist, Miller joined BP as a geochemist in 1985. He studied peak oil matters since 1991, when BP asked him the following year to devise a wholly new way to estimate global oil resources.”
Read more

Renewables revolution now in full swing, says Amory Lovins.

February 17, 2014 Change for Good, Clean Energy, Climate 

Guardian: “Heating systems are so 20th century,” he says. “We have found you actually save money by not putting in a heating system. It’s cheaper. The monitoring system uses more energy than the lights.”
Read more

Electricity use down in UK homes but Germany is doing far better.

February 16, 2014 Clean Energy 

FT: “Energy prices may be rising in the UK, but there is a small light on the horizon as people use nearly a third less electricity to light their homes than they did 16 years ago.”
Read more

Barclays: profits down? Fire staff, hike bonuses.

February 16, 2014 Finance 

Guardian: “Mark Carney has stepped into the row about bankers’ bonuses with a demand that a large chunk of the pay packages for senior staff should be deferred “for a very long time”.
Read more

EU utilities under pressure to change business models.

February 14, 2014 Clean Energy, Coal, Gas, Nuclear 

FT: “Faced with a grim present and an even grimmer future, Europe’s utilities are being forced to reinvent themselves – and adapt to a technological revolution in home energy services.”
Read more

Big 6 UK energy companies: 5.5m complain in 2013, 800k quit.

February 14, 2014 Coal, Gas, Nuclear 

Guardian: “….consumer group Which? revealed there had been 5.5 million complaints against the “big six” – EDF, Centrica, E.ON, npower, Scottish Power and SSE – last year…. More than 800,000 customers are believed to have switched away from “big six” suppliers in just over a year.”
Read more