President Obama ratcheted up the pressure on Iran Friday, deciding to implement previously announced sanctions that will be the toughest to date.
The decision declares that world oil markets can be adequately supplied even if a significant portion of Iran’s 2.2 million barrels a day in oil exports is taken off the table. Keep reading →
Doing its best Ben Bernanke (or maybe Greg Smith?) impression, Saudi Arabia took the somewhat unusual step this week of penning an Op-Ed to make its case that global oil prices are too high.
But by writing a letter to the Financial Times, the world’s largest supplier of oil has left some in the energy markets wondering one question: If Saudi Arabia truly wants to lower prices, why doesn’t it simply produce more oil? Keep reading →
Will low-cost Chinese meters eventually force out equipment made in the U.S. and Europe? Earlier this year, we saw China-affiliated Glen Canyon launch an inexpensive smart meter for the North American market. But most analysts predict it will take a few years – at the earliest – for Chinese meters to penetrate the staid and slow-to-change market here.
A more grave threat may be embodied in Monday’s announcement (see the press release) that Chinese giant Huawei is teaming with Landis+Gyr to attack the UK market. Most U.S.-based metering companies have long assumed that Europe would provide their next wave of growth. But European utilities may prove more willing to incorporate Chinese technology. At best, the North American companies will have to slash prices and margins. At worst, they could be priced out altogether. Keep reading →
Canada’s oil sands industry has taken a major leap toward greening their operations and their image. The 12 largest producers – accounting for 80% of oil sands production – have come together to form Canada’s Oil Sands Innovation Alliance, which has committed to accelerating the pace of environmental improvement, COSIA CEO Dan Wicklum told Breaking Energy recently.
Numerous environmental oversight organizations sprung up organically over time to ensure oil companies were honoring their commitment to the environment. While these ad hoc sustainability initiatives made positive strides, the public wanted more. As a result, COSIA was formed and the chief executives of each member company signed a charter on March 1st committing them to specific activities and behavior. Keep reading →
While many countries are trying to wean themselves off expensive and dirty fossil fuel energy, much of the world is still waiting on any type of electricity. Some 1.4 billion people lack access to electricity, and rather than start them down the same path we’re trying to get off, the hope is that they can forgo the journey and just relax at the renewable-energy finish line.
However, as one would expect, it’s not as simple as installing huge wind and solar farms throughout parts of Africa and Asia. Most of the people in need of electricity live in rural areas, lacking infrastructure to connect to a power grid or the upfront money to install solar locally. Keep reading →
Engine manufacturers, natural gas producers and fuel distributors have been “pushing” the financial and environmental benefits their technology offers, but some industry leaders are now seeing significant “market pull.”
The fuel cost differential that has emerged between natural gas and diesel or gasoline is perhaps the most compelling aspect of the natural gas vehicle business case. Navistar Engine Group President Eric Tech told Breaking Energy that it’s not hard to convince customers to save money. Keep reading →
Although Iranian geopolitical risk could ease in the second quarter of 2012, the global oil market remains tight, with considerable risk to both the upside and downside, says international banking giant Barclays in its most recent quarterly Global Outlook.
If the news flow from Iran slows in the second quarter, the bank sees oil prices easing slightly lower, as the decreased threat of a supply disruption would calm traders. However, the tightness in the global oil system – spare production capacity is currently only about 2% of global demand – is likely to persist into the second half of the year, keeping upward pressure on prices. Keep reading →
Wind is an important aspect of utilities’ renewable portfolio standards and the Midwest Independent System Operator is committed to ensuring wind power is utilized efficiently and reliably. That is the message MISO President and CEO John R. Bear delivered to a recent American Wind Energy Association conference.
“MISO is committed to improving our ability to reliably manage all generation resources in order to continue providing the lowest-cost energy to our members and their customers. We look forward to working closely with state regulators to implement renewables as a significant aspect of our members’ renewable portfolio standard in an efficient and reliable manner,” said Bear. Keep reading →
The ship responsible for the second-largest oil spill in U.S. waters behind BP’s Deepwater Horizon, is being sold to a company in China that will most likely rip it apart and sell it in pieces.
Exxon Valdez, the tanker that ran aground in March 1989 near Alaska and spilled millions of gallons of oil in Price William Sound and killing tens of thousands of animals, was bought by Best Oasis, according to a report by the Associated Press. Keep reading →
Jim Rogers CEO of @DukeEnergy – "I’m not going to put all my chips on any one #technology" re #natgas vs #nuclear #energy at #wsjeco petergardett
