Fatih Birol, the Executive Director of the IEA, said at a recent conference that the US will not become the “next Saudi Arabia”, despite its position among the world’s top oil producers. “US oil production increased significantly and is due to continue to increase. This is excellent news for the United States and world oil… Keep reading →
Saudi Arabia’s oil minister is concerned about potentially disruptive trends that could undermine the oil industry in the coming decades. New technologies and efforts to cut carbon emissions offer potentially existential threats to the world’s most important commodity. Current projections from the IEA and other analysts all forecast demand for oil increasing, with medium-term forecasts… Keep reading →
On Friday, Energy Secretary Ernest Moniz made the following statement regarding Dr. Fatih Birol’s confirmation to be the next Executive director of the International Energy Agency (IEA): “As the new Executive Director of the International Energy Agency, Dr. Fatih Birol is an ideal candidate to lead the Agency in a time of global energy transformation.… Keep reading →
Apple, Inc has finalized an historic $850 million agreement to purchase solar power from First Solar, the largest solar developer in the United States. “The deal will supply enough electricity to power all of Apple’s California stores, offices, headquarters and a data center, Cook said Tuesday at the Goldman Sachs technology conference in San Francisco.… Keep reading →
Until we lose it, many of us take electricity for granted: for the past 100 years, the developed world has grown to expect a constant supply of power at the flick of a switch. However, for many people across the globe, gaining access to a reliable supply of electricity is extremely difficult, if not impossible.… Keep reading →
Enjoy it while it lasts When oil prices went from where ever they were to $100 and above, everybody said oil is expensive. Consumers and oil importers complained when it hit $115 in July 2014. Gradually, however, everyone got used to $100+ oil. In the past couple of months, oil prices have plunged, hitting low… Keep reading →
OK, many already know the US lacks a comprehensive energy policy, but an IEA study released this week reaches that same conclusion. The long-term nature of energy development projects does not mesh well with 2-year and 4-year election cycles. “A chief obstacle in US energy policy a lack of clarity, the report says. This month’s… Keep reading →
Last week the New York Times reported that, for the first time in history, clean energy resources like solar and wind are becoming cost competitive with conventional coal in some markets. This paradigm shift, where clean energy is beginning to compete head-to-head with traditional energy sources, calls for a change in perspective. This ‘change in perspective’ is… Keep reading →
While the current focus is on declining oil prices – which hit four-year lows yesterday – the longer-term oil market picture could feature downward supply pressure and a demand surge that forces prices right back up, according to IEA’s flagship World Energy Outlook 2014. The agency cautions against allowing current supply/demand fundamentals to breed complacency.… Keep reading →
The US and China agreed to jointly cut carbon emissions in order to combat climate change, a historic pact that has many excited and many outraged. But China’s commitment to cap greenhouse gas emissions by 2030 means the country will need to build out power generation infrastructure in unprecedented ways. “That means building even more nuclear… Keep reading →
