Energy consumers often seek similar goals when sourcing supply: Reliable, clean and cheap. The European Union is no exception and a new energy strategy document drafted in the wake of Gazprom’s latest natural gas supply cutoff reiterates that goal. “We must avoid Europe relying to such a high extent on fuel and gas imports. To ensure our energy future is under full control, we want to build an Energy Union aiming at affordable, secure and green energy.” [Reuters]
The US House of Representatives yesterday passed legislation designed to streamline the implementation of energy efficiency measures – like thermal insulation installation – in schools and federal buildings. “One of the bills, H.R. 4092, would establish an office within the Department of Energy to coordinate federal, state and local programs to help schools become more energy efficient. Lawmakers said that schools spend $6 billion per year on energy, second only to personnel costs.” [The Hill]
Oil prices are holding steady and even declined a bit in recent trading as the market reacts to relatively stable output and export volumes from Iraq. The Saudis say they can ramp production up to 12.5 mmb/d if needed – up from 9.7 mmb/d currently – and Opec declined to call an emergency meeting ahead of its scheduled November 27th conference. [Bloomberg]
