Daily Archives: March 23, 2009

Ed Crooks

In Energy Source:

Suncor and Petro-Canada to merge

$50 oil does not yet mean the rebound has begun

Utility customers have trouble paying bills

A slowdown in US solar

Experts argue over cap and trade

Elsewhere:

The is a natural gas “glut” worldwide (NY Times) (Earlier in the FT)

The expected cost of cap and trade in the US rises says free-market think-tank (Institute for Energy Research)

…While the political battle over the plan is heating up (Houston Chronicle)

How the US administration can pass climate legislation and secure agreement at Copenhagen at the end of the year, explained in detail (Scientific American)

However, George Stephanopoulos is not so sure Obama can succeed (ABC News)

In the US, the first loan guarantee for a solar project has been awarded, four years after the legislation was passed (NY Times)

But Dianne Feinstein is trying to keep solar out of the Mojave Desert (Huffington Post)

Steven Chu, the energy secretary, has been “dropped in at the deep end” in Washington. Details on his trousers and shoes are provided, and his family and background. Not so much on his policies (NY Times)

Abu Dhabi’s national oil company still has trouble recruiting Emiratis even though it is raising the quality and quantity of its training. “Adnoc is proceding gradually”, says a Chatham House expert (The National)

In Brussels, Ukraine’s leaders meet the European president and offcials to commit to new rules for operating its gas network, opening the way for new investment in crumbling infrastructure, it is hoped (Deutsche Welle)

Going green can cut costs, say two management academics (WSJ)

More about the robot fish, with video (Idealo) (Earlier, in the FT)

And finally: marine wildlife loves oil platforms, with terrible pun (New Scientist)

Ed Crooks

Breaking news this morning: Suncor Energy has announced it is buying Petro-Canada for about C$20bn. The two companies are describing the deal as a merger, but it is really a takeover. The interesting question now is whether, now the ice has been broken, other companies move to do oil sands deals.

James Fontanella-Khan

Energy news from elsewhere:

- Suncor is close to buying oil rival Petro-Canada for $15bn (WSJ)

- Crude oil rises as dollar’s decline increases commodity demand (Bloomberg)

- OZ Minerals shares on halt pending China bid update (Reuters)

- European clean-coal projects win extra $1.4bn (Bloomberg)

James Fontanella-Khan

Energy news from the FT:

- Chinese stockpiling spurs copper price rally
Price of the metal rose 28 per cent this year

- Centrica looks at fast track to renewal
An exciting year for a boring utility

- Cash shortage hinders climate battle
EU leaders pledged to pay a fair share to developing nations

- Argentine farm row fuels food price rises
Commodities markets are braced for more price rises

- Share price is Venture talking point
Centrica in talks to takeover the whole company

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