A recent analysis from Lazard of the levelized cost of various forms of energy shows wind, solar and biomass states they are already cost-competitive with most fossil fuels. [WSJ] American households are expected to pay an estimated $700 less for energy expenditures than in 2014—a windfall that is expected to last through 2016, according to the EIA.… Keep reading →
Sapphire Energy and refiner Phillips 66 – comprised of ConocoPhillips’ former refining assets – have announced a joint development agreement to commercialize Sapphire’s Green Crude, an algae-based crude oil. The two companies will expand Sapphire’s ongoing testing program to ensure that Green Crude can be processed in traditional refineries and meet Environmental Protection Agency standards under the… Keep reading →
Saudi oil output hit a record 9.51 million barrels per day in 2012, when the country lifted output to offset the impact of supply disruptions in Libya and a 1 July EU embargo on Iranian crude shipments. Saudi Arabia exported about 6.9 million bbls/d of oil last year, of which more than 50% went to… Keep reading →
