When gasoline prices began to spike earlier this year, the popular opinion was that oil prices would continue to climb into the peak summer travel season.
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As nations continue to wrangle over the control, development and transportation of Caspian basin oil and gas resources, recent new discoveries in the Eastern Mediterranean Sea have raised the potential conflict level between governments, corporations and other relevant parties. But the discovery of what appear to be substantial natural gas deposits, also presents great opportunity.
“There was some concern a number of months ago about these gas finds off the southern coast of Cyprus… now the US would have to have more of a naval presence in the Eastern Mediterranean in order to de-conflict these forces..,” Steven A. Cook, Council on Foreign Relations’ Hasib J. Sabbagh Senior Fellow for Middle Eastern Studies told journalists at a recent roundtable for select media. Keep reading →
Jamie Dimon says the US economy is holding a “royal straight flush.” The JPMorgan Chase CEO, speaking this week at a New York Stock Exchange event marking the launch of the latest Fortune 500 list, detailed what he says is the country’s strong hand: the world’s strongest military, best businesses, most entrepreneurial workforce and deepest capital markets. Dimon is one of the most high-profile executives on Wall Street — and has been the target of popular anger in the aftermath of the financial crisis and Washington bailouts of Wall Street. He says it rolls off his back. But he has less tolerance for attacks on big business. “It denigrates some of the best things in America, and it hurts business and consumer confidence,” he said.
Check out the tech GE’s wind turbine engineers use to track data from thousands of turbines http://ow.ly/aHY4c
By Peter GardettCheck out the tech GE’s wind turbine engineers use to track data from thousands of turbines http://ow.ly/aHY4c GE_Reports
Power companies are training their customers to see electricity supply in a new way, with two-way flows of information and energy that can increase reliability and prevent the need for costly transmission building.
“Demand response is creating business intelligence” in which companies can understand their exposure to time of use as well as overall volume of use when it comes to electricity, Constellation Energy Senior Vice President for Demand Response Gary Fromer told Breaking Energy recently. Keep reading →
If you were interested, you could probably go to a conference discussing some aspect of the energy business every single day of the year. From huge halls to intimate boardrooms, the complexity and scale of the energy business makes meeting with competitors, partners and stakeholders compulsory.
While events continue throughout the year, there are two “rush” seasons when energy executives spend as much time in the air as on the ground. Starting in late January, financiers and policy experts seeking to firm up budget and regulatory priorities for the year ahead begin gathering in warm-weather destinations to discuss terms and seal deals. Keep reading →
How a quest for a ten-fold improvement in batteries promises to make electric vehicles deliver on their remarkable potential.
The din that accompanied the birth of modern electric vehicles has quieted, despite a steady parade of new models and the ascent of gas prices to worrisome highs. The relative quiet is good news though, a sign that electric vehicles (EVs) are entering a critical period when the technology must evolve from exotic to everyday. Keep reading →
A billion dollars of investment later, US engine manufacturer Pratt & Whitney has begun flight testing its PurePower Geared Turbofan Engines. The new technology lowers fuel consumption, noise signature, greenhouse gas emissions and maintenance costs.
“The engine used a lot less fuel than we expected, we had to adjust the fuel load for the next flight,” Marc Kirner, Director of Flight Operations for Pratt & Whitney Canada told reporters at a recent media event in Hartford, Connecticut. Keep reading →
ExxonMobil disclosed a steeper-than-expected 11% drop-off in first-quarter profits on Thursday as the energy heavyweight was hurt by its chemical and exploration and production divisions. Shares of the world’s largest publicly traded energy company retreated more than 1% in the wake of the earnings miss.Irving, Tex.-based Exxon said it earned $9.45 billion, or $2 a share, last quarter, compared with a profit of $10.65 billion, or $2.14 a share, a year earlier. Analysts had been calling for more robust EPS of $2.09. Revenue jumped 8.8% to $124.05 billion, but that also trailed forecasts from Wall Street, which expected $124.76 billion. “First quarter results reflect our ongoing focus on developing and delivering energy needed to support job creation and economic growth,” CEO Rex Tillerson said in a statement.
In the race to commercialize the next generation of advanced biofuels created from inedible plant material, 50/50 BP – Dupont joint venture Butamax is pushing to make biobutanol the next big thing. The company is moving toward the commercial phase of its program to make biobutanol the US fuel blend of choice.
“We are very excited about this product – biobutanol is the highest value biofuel that can be made,” Butamax CEO Paul Beckwith recently told Breaking Energy. Keep reading →
