US tight oil production has already helped to shave somewhere on the order of $20-$25 per barrel from Brent crude oil prices, and continued output growth has the potential to further impact global pricing, according to Energy Information Administration (EIA) Administrator Adam Sieminski. The uptick in US oil production – which rose to 6.5 million… Keep reading →
New York City – the world’s energy finance capital and one of the world’s largest commodity trading marketplaces – is a fitting location for the Center on Global Energy Policy. As part of Columbia University’s School of International and Public Affairs, the center will seek to “provide independent, balanced, data-driven analysis to help policymakers navigate the complex world of energy.”
At Wednesday’s launch event, New York City Mayor Michael Bloomberg was joined by energy experts and US government officials, who helped officially inaugurate the new energy policy initiative. Keep reading →
Commodity derivatives trading in water?
It’s not as far-fetched as it sounds, and it may become part of the energy business soon. Keep reading →
Imagine trying to manufacture and deliver gifts to all 2 million kids in New York City the exact moment they wake up on Christmas morning, without being able produce or store them anywhere ahead of time. You would either have to maintain toy-manufacturing plants on the roof of each home, or construct a supersonic delivery system with unlimited flexibility. The rest of the year, these plants and the high-end delivery system would sit idle until the next Christmas arrived.
If you’re thinking this scenario seems ridiculous and wildly inefficient, you’re right. So it’s surprising to learn that this is how the world thinks about and builds our current electric power infrastructure. This type of planning process was necessary ten years ago based on the state of the world, but today, advances in new technologies such as energy storage and demand response can fundamentally change this scenario. Keep reading →
