In the midst of the shale revolution, US proved natural gas reserves drove the first ever global decline in proved gas reserves in 2012, and it all comes down to low prices, according to BP Chief Economist Christof Rühl. Global proved natural gas reserves fell by half a trillion cubic metres in 2012 compared to… Keep reading →
Renewables suffered their first “serious slowdown” in 2012, as their rapid growth outpaced the capacity of some economies to continue subsidizing them, according to BP Chief Economist Christof Rühl. Global renewables consumption – defined as wind, geothermal, biomass, solar and waste – grew by 15.2% in 2012 over 2011 levels, to 237.4 million tons of… Keep reading →
Oil companies love to say that their ownership is the average American retiree, and utilities can often claim the same. Look at your retirement account or, should you be so lucky as to have one, your company’s pension plan. Odds are that it is heavily invested in the US energy sector. Shifts in the parameters… Keep reading →
The US government needs to stop giving subsidies to Big Oil! This is such a common rallying cry that few stop to consider what it really means.
The idea appears simple: Oil companies make so much money the government should not support them. But is the government giving oil companies money? How does the system really work? Keep reading →
In about a week, some of the brightest minds in government, industry, and academia will gather in Denver, Colorado to talk about what the U.S. can do to play catch-up in the global clean energy race. The SunShot Grand Challenge: Summit and Technology Forum is the first event in a series of Department of Energy Grand Challenges that organizers hope will address the scientific, technological, and market barriers to achieving breakthroughs in the clean energy market.
For the past five years, the fossil fuel industry has done its best to impede both public and private investment in renewable research and development. While politicians wring their hands about what might happen if fossil fuel subsidies were instead distributed to solar and wind, countries like Spain, Germany, and Japan have been jumped in with both feet. As a result, these countries are far closer to achieving solar grid-parity that we are. Keep reading →
Production tax credits for wind are creating distortions in power markets, and after 20 years of subsidies it may be time to let the credits expire, experts told an Energy Policy Forum in Washington June 5.
“We are not anti-wind,” said Mayo Shattuck, Executive Chairman, Exelon Corp. “But there comes a time when we need free-market price signals,” so businesses can make decisions on investments for the next 20 to 60 years. Keep reading →
The Solyndra bankruptcy led to a sudden frenzy of attention for government incentives for the renewable energy industry.
But even before the CIGS solar panel manufacturer announced it would be laying off all 1,100 of its employees and shutting down operations, private equity firm DBL Investors set out to look at the history of government incentives for the renewable energy industry and compare the numbers with data on government support of fossil fuels and nuclear power. Keep reading →