Opec missed the fracking bandwagon according to this article that includes quotes from a secret letter written by Prince Al-Waleed Bin Talal, a high-ranking member of the Saudi royal family, that drew attention to the threat posed by non-Opec unconventional resource production growth. “In addition to the many discoveries of oil and gas in the U.S., Canada and Australia,” the prince wrote, “there are also great discoveries of shale gas, which will lead to a reduction of consumption of our oil.” It does not appear conditions exist in Opec nations that would facilitate similar levels of shale development seen in North America. [Alberta Oil Magazine]

The trade group Solar Energy Industries Association applauded NY Governor Cuomo’s regulatory changes that facilitate the growth of solar power across the state by bringing several solar programs under a single, state-wide initiative – NY-Sun. “This administration has taken real steps towards going solar, and these steps are paying off,” said Rhone Resch, SEIA president and CEO. “New York is moving quickly up our Solar State rankings, due largely to the actions of New York State Energy Research and Development Agency, or NYSERDA, which has recognized the value of clean, renewable solar energy to the state’s economy and environment. We congratulate the administration on its development of the MW Block program, which will drive down costs, attract significant capital investment, and limit the cost to ratepayers by imposing discipline on the market.” [Renewable Energy Focus]

International benchnmark oil prices that have been trending lower this year increased slightly from yesterday’s close. US inventory data is due out today. “Brent for October settlement gained as much as $1.24 to $101.58 a barrel, and traded at $101.47 at 1:32 p.m. on the London-based ICE Futures Europe exchange. The contract closed yesterday at its lowest since hitting $99.95 on May 1, 2013. The European benchmark traded at a premium of $7.52 to WTI on ICE, compared with $7.46 yesterday. …WTI for October delivery advanced as much as $1.09 to $93.97 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $3.08 to $92.88 yesterday, the lowest close since Jan. 14. The volume of all futures traded was about 3 percent above the 100-day average for the time of day. Prices have decreased 4.6 percent this year. [Bloomberg]