Implicitly or explicitly Opec countries are battling with US oil producers over the commodity price. There is much evidence to suggest that given US production growth volumes – Gulf Coast output alone is up 1.9 million barrels per day since 2010 – and weak global demand, Opec could only marginally impact prices by cutting production.… Keep reading →
Solar power continues to be a high-revving jobs engine in the United States, surging to 173,807 positions industrywide by late 2014, a 21.8 percent increase over a year earlier, according to an annual survey released on Thursday. High-profile trade cases brought by Oregon-based SolarWorld Industries Americas have put a focus on solar manufacturing in the… Keep reading →
While Ankara’s decision for or against fighting ISIS will be a political one, the military’s lingering resentment toward the AKP, the PKK, and Arabs could be a formidable obstacle to Turkish intervention. In all the discussions about Turkey not being particularly supportive to the coalition fighting the “Islamic State”/ISIS, little has been said about the… Keep reading →
Germany’s Munich Re, one of the world’s largest and leading reinsurers, released on January 7 its review of natural catastrophes in 2014 – measuring the economic impact of natural catastrophes on its reinsurance business bottom line. Attributing the much lower 2014 financial losses vis-à-vis previous years to the “absence of very severe catastrophes and a… Keep reading →
Ed. note: This is a weekly column by Elie Mystal, Managing Editor of Above the Law Redline. This space will focus on the laws that exist, should exist, and should be put out of their misery. UNDER-REGULATED The Mississippi River: The Mississippi river blew up yesterday. Okay, that’s not entirely accurate. A gas pipeline exploded… Keep reading →
Recovery from the dramatic supply-driven oil price slide of 1986 took 5 years. Will the current cycle follow the same pattern? This piece plays a bit of Monday morning quarterback and suggests that if Saudi/Opec did more to moderate prices over the past 6 years the current supply glut could have been avoided. [Bloomberg via… Keep reading →
The auto industry is back — and the Department of Energy has helped to make it even stronger. Since 2009, the Energy Department has issued more than $8 billion in loans to companies through the Advanced Technology Vehicles Manufacturing (ATVM) program, including $5.9 billion to the Ford Motor Company. The financing provided to Ford was… Keep reading →
Many issues facing FERC in 2014 have carried over to 2015. Topping the list is the uncertain future of demand response in wholesale electricity markets. Demand response’s future hinges on decisions at FERC, in the federal courts, and now in Congress. Last May, the D.C. Circuit voted 2 to 1 that FERC lacks jurisdiction over demand response in wholesale energy markets. This unexpectedly broad ruling rocked the electric industry, which had thought the court would merely rule on the reasonableness of FERC’s demand response compensation scheme. FERC asked all the D.C. Circuit judges to rehear the “EPSA decision,” but they declined to do so. On January 15, the U.S. Solicitor General will file a petition for a writ of certiorari with the Supreme Court, asking it to review EPSA. Others, including demand response providers and state public utility commissions, will also seek Supreme Court review. It is, of course, uncertain whether the Supreme Court will grant the petitions, and if it does, whether it will reverse EPSA.
The Obama administration interrupted Washington’s Keystone XL focus on Wednesday with an announcement that could have more profound long-term impact than the controversial pipeline – a regulatory push to cut methane emissions from the surging U.S. oil and gas industry. The administration said the Environmental Protection Agency would craft a new rule to set standards… Keep reading →
Saudi prince Alwaleed bin Talal made headlines this week when he stated oil prices would never again exceed $100 per barrel. Surly several analysts would advise him to “never say never,” but the prince also spoke about allegations that Saudi Arabia is deliberately forcing down oil prices in order to hurt Russia. Here’s how the prince… Keep reading →
