Texas led the pack in state-level energy-related carbon dioxide emissions from 2000-2010, having produced more than 7.5 billion metric tons of CO2 over the period, according to the US Energy Information Administration (EIA) The EIA has begun to provide state-level energy-related carbon dioxide emissions data, showing that over the 2000-2010 period, Texas far outpaced other… Keep reading →
Changing oil market dynamics appear set to reduce the wide price differential between Brent crude oil and WTI that developed within the past few years, the Energy Information Administration said in its latest Short-Term Energy and Summer Fuels Outlook. These global benchmark crude oil grades are also expected to generally decrease in price from the averages seen last year, while US natural gas prices move well above the historic lows recorded last April.
“EIA expects that the Brent crude oil spot price, which averaged $112 per barrel in 2012 and rose to $119 per barrel in early February 2013, will average $108 per barrel in 2013 and $101 per barrel in 2014. The projected discount of West Texas Intermediate (WTI) crude oil to Brent, which increased to a monthly average of more than $20 per barrel in February 2013, is forecast to average $14 per barrel in 2013 and $9 per barrel in 2014, as planned new pipeline capacity lowers the cost of moving midÃ¢Â€Âcontinent crude oil to the Gulf Coast refining centers,” the EIA said in the report. Keep reading →
If any sector would seem unlikely to be singled out for its robust dealmaking outlook, renewable energy might seem to be it. After a surge in investment and in installations over the past decade, renewable energy seemed to run out of road in 2012, undermined by extreme competition, low natural gas prices and limits on government assistance in a budget-constrained environment.
But 2012 proved to be a surprise for analysts of the renewable energy sector, analyst from consulting and accountancy firm Deloitte said in their most recent overview of the sector’s merger and acquisition activity. Keep reading →
Trade in derivatives has been one of the most controversial activities in finance since the opacity around those markets was held by observers to blame for the scale and depth of the financial crisis of 2008. One of the key solutions recommended by regulators was to move trade in contracts onto exchanges, where they could be monitored more closely.
That effort showed early signs of success as the more-liquid contracts moved online but efforts to make exchange trading the default have faltered and – for many types of derivatives – actually reversed. Keep reading →
As consumers, we may not stop to consider how the global mining industry plays a role in our daily lives.
Consider that the average American uses approximately 3.4 tons of coal and nearly 40,000 pounds of newly mined materials each year, according to the National Mining Association. With a rising global demand for energy and other commodities – especially in emerging markets such as China, India and Brazil – mining has never been a more vital industry. Keep reading →
In his recent State of the Union speech, President Obama proposed an Energy Security Trust that would rely on the money from increased oil and gas drilling to support research that could move cars and trucks off oil-derived fuels.
From a White House briefing document accompanying the President’s speech: Keep reading →
When Ken Salazar announced he would step down as Secretary of the US Department of the Interior it created a difficult decision for President Obama and brought a campaign issue back to the fore. Regulating development on federally-owned lands – particularly for oil and gas drilling – is one of the most polarizing energy issues of the day and because this is a primary function at the Interior Department, the issue and the department’s role has exploded into the political arena.
The department’s mission: “The US Department of the Interior protects America’s natural resources and heritage, honors our cultures and tribal communities, and supplies the energy to power our future.” The onshore and offshore acreage managed by Interior account for 30 percent of US natural gas output, 30 percent of the country’s oil production and up to 40 percent of US coal production. Keep reading →
A new plan for deep cuts in carbon emissions from US power plants is designed to help counteract climate change and reduce health risks but could also lead to more job cuts in the beleaguered coal industry.
The environmental group Natural Resources Defense Council recently issued the proposal that would use existing technologies to cut generators’ carbon pollution by 26 percent by 2020 and 34 percent by 2025, also reducing emissions of other pollutants such as sulfur dioxide and nitrogen oxides. Keep reading →
US greenhouse gas emissions from the energy sector are going to stay below their 2005 peak for the foreseeable future, thanks to more efficient energy usage and increased use of lower-carbon energy sources, says the Energy Information Administration (EIA).
The projection is in EIA’s preliminary outlook to 2040, the first agency analysis to project beyond 2035. Keep reading →
Environmental Protection Agency (EPA) officials are seeing “no surprises” as the power industry plans compliance with new mercury rules, but some industry officials say the surprises are still to come – in customer bills.
EPA Assistant Administrator Gina McCarthy told the National Association of Regulatory Utility Commissioners in Baltimore this week that “just a handful” of companies with specific compliance challenges have come to EPA to discuss getting additional time to comply with the Mercury and Air Toxics Standard (MATS). Keep reading →