Phil Zahodiakin

Posts by Phil Zahodiakin

Global Oil Industry Spending Happening Outside North America in 2013

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Sustained growth in spending on exploration and production across the globe will focus on plays outside North America, a survey from a global bank concludes, despite the country’s growing profile and its potential to become the top global crude producer in coming decades.

Global exploration-and-production spending is poised to reach a record $644 billion by the end of 2013, a semi-annual Barclays analysis predicts. The spending report also foresees strong oil prices, which have emerged as the principal bellwether for growth in E&P budgets. Keep reading →

 /  Published December 17, 2012 at 2:30 PM

Connecticut Auction Cuts Clean Energy Costs While Providing a Template for Other States

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Connecticut has driven down the costs that ratepayers will incur for their public utilities’ clean-energy purchases through an innovative reverse auction. The newly-launched program is the first of its kind, but there’s a congressional proposal with language directing the Energy Department to set up reverse, renewable-energy auctions on a nationwide basis.

The legislation has languished in the current Congress, but it will be back – and its sponsor can now point to the promising outcome in Connecticut, where Gov. Dannel Malloy has led a charge for “cheaper, cleaner, and more reliable” electricity. Keep reading →

 /  Published December 7, 2012 at 11:30 AM

Canada’s Petronas Acquisition Decision Will Impact North American LNG Exports

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With global LNG demand projected to exceed supply by a wide margin, the prospects for North American exports of liquefied natural gas are exceptionally strong. But an unexpected development has raised a question about Canadian participation in this emerging export opportunity.

The question is: Will the Canadian government decide to block any of the pending acquisitions of its E&P players by foreign energy majors? Keep reading →

 /  Published November 30, 2012 at 1:45 PM

Big Banks Await US Carbon-trading while Focusing on Core Energy Plays

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The major investment banks remain heavily engaged in the energy markets, hedging fuel prices and even producing energy for their own or their clients’ benefit. But Brad Hintz, a Sanford C. Bernstein & Co. research analyst who tracks the investment banking and securities industries, told Breaking Energy that the big banks are also positioning themselves for potential regulatory changes which will force the launch of a national carbon-trading market.

“Goldman Sachs, JP Morgan, Morgan Stanley, and Barclays are all major energy traders,” Hintz observed. “They are the banking giants in that space, and they – along with the commodities exchanges – provide the risk management services needed to balance demand and supply in the global energy markets.” Keep reading →

 /  Published November 1, 2012 at 2:30 PM

Government Subsidies are Scaring Away Capital from Green Deals, Investment Banker Says

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Global investment in sustainable and cleantech businesses has softened during the last couple of years, and there are multiple reasons for the trend. In the US, an investment banker says, one of the key reasons is that government subsidies are scaring away capital. But the banker has detected a growth area that could become a significant driver for clean-tech and sustainability deals.

Most of the major investment banks don’t have stand-alone sustainability practices. But there’s a fair number of middle-market banking firms focused on clean tech and sustainability. Keep reading →

 /  Published October 31, 2012 at 8:30 AM

The Sun Could Be Setting on Arizona RECs

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The incentives offered by Arizona’s electric utilities have spurred their customers to install photovoltaic systems, which helps the companies comply with a mandate for renewable energy distribution. The incentives are renewable energy certificates, which are purchased by utilities from customers producing energy. But the RECs may soon become unnecessary – at least for the residential market – because the cost of producing PV energy is sinking towards parity with the cost for grid power.

This rapidly approaching reality is raising a tricky question: how will utilities demonstrate their compliance with the state’s renewable energy mandate without RECs? Keep reading →

 /  Published October 16, 2012 at 8:30 AM

Energy Issues Deserve Greater Campaign Prominence, Trade Groups Say

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Domestic energy development and a wide swath of regulatory issues associated with energy production should be addressed more emphatically during the presidential campaign, officials at several industry associations believe.

“Energy hasn’t been absent from the campaign, but I think it deserves a higher profile,” Brendan Williams, vice president, advocacy, at the American Fuel and Petrochemical Manufacturers, told Breaking Energy. Keep reading →

 /  Published October 3, 2012 at 9:00 AM

Oil Companies Clamoring for Ultra-deepwater Rigs

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The global fleet of ultra-deepwater oil rigs was increasing steadily until April 2010, when regulatory aftershocks from BP’s Macondo disaster slowed its overall growth rate. But now, two years after the Gulf spill, there are indications that drilling in the ultra-deep could be poised for a long-term surge.

One of the key indicators is rig demand. And a Barclays equity research report says oil companies are clamoring for rigs designed to operate in water depths of 7,500 feet or more – the generally accepted threshold for the ultra-deep space. Keep reading →

 /  Published September 20, 2012 at 8:30 AM

Business Schools Focusing on Corporate Sustainability Trends

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Policy proposals to solve environmental problems flow from a myriad of sources, particularly activist groups and legislators. But business schools are sharpening their focus on environmental economics, and they may be poised to emerge as much more vocal proponents for environmental solutions.

One such voice was raised in April, when a Northwestern University economist proposed an unusual – some would say radical – approach to reducing greenhouse gas emissions. Keep reading →

 /  Published August 24, 2012 at 10:30 AM

Energy Issues Could be Critical in the Battleground States

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The most recent Wall Street Journal/NBC election poll found very few people who are undecided about their choice for president, which means the fight to win swing states will be ferocious. Could energy issues play a role in the outcome?

Clean energy advocates say the possibility has become a reality in at least one of those states – Iowa – and it promises to influence undecided voters elsewhere, as well. Keep reading →

 /  Published August 14, 2012 at 8:30 AM
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