Germany is facing an energy paradox where significant increases in renewably-generated power – mostly from wind and solar – are being surpassed by increases in coal-fired power. Part of the reason stems from the country’s decision to phase out its nuclear fleet. A majority of the nuclear generation capacity that has come offline – 8 plants in 2011 – has been replaced by coal-fired power. Low priced CO2 emissions permits are also being blamed for rising coal consumption. [Spiegel Online International]
The American Petroleum Institute held a major press event yesterday to announce a new report and advertising campaign during this important mid-term election year. API President and CEO Jack Gerard’s 2014 State of American Energy speech focused on the importance of US energy policy with regard to the economy and how making prudent policy choices now can help foster the current US energy boom. [CNBC]
The US Commerce Department announced Tuesday the US trade deficit fell to a four-year low, largely on the back of decreased oil imports and surging refined petroleum product exports. Now the debate over whether or not to lift the decades-old ban on crude oil exports and allow greater volumes of LNG to flow overseas is the topic of the day. “It’s ultimately a policy question. Natural-gas export terminals need the Energy Department‘s authorization, and major exports of crude oil have been banned for decades. If drilling at home was the key energy issue of the 2012 election cycle, where that oil ends up will play a role in this year’s midterm elections.” [The Christian Science Monitor]