It could be one of the tiniest green shoots out there: the Energy Information Agency in its latest short-term energy outlook increased its projection for world crude demand to 83.68m – up from May’s forecast for the year of 83.67m barrels per day.
In fact, we checked with the EIA and they said May was 83.672m and June was 83.677m – so the difference was only 5,000, barely showing up in the two decimal places the EIA publishes. Read more
Delphine Strauss writes:
EU Energy Commissioner Andris Piebalgs was quoted today by the Russian Interfax agency as saying “We are close to signing the Nabucco deal, in late June or early July”.
He is not the only one to sound an optimistic note: everyone with an interest in the Nabucco project is publicly optimistic European governments will soon reach a deal to bring the pipeline closer to reality.
Noone seems quite so sure how that is going to happen. Read more
The number of clean energy patents granted fell slightly in the first quarter of 2009, but was still higher than a year earlier.
The index, published by law firm Heslin Rothenberg Farley & Mesiti P.C.’s Cleantech Group, shows the number of clean energy patents fell in the first quarter, by almost 7 per cent to 243. However is higher than Q1 2008, which saw 220 patents granted. Read more
With Vivienne Cox’s departure from BP, Europe’s two biggest oil companies have both lost their most senior women executives in the space of a month, following Linda Cook’s resignation from Shell.
Ms Cox is being replaced by another woman: Katrina Landis, her deputy at BP’s alternative energy business. But even so, the news that Ms Cox is going, aged just 49, has reignited the debate about whether the oil industry makes it more difficult for women than men to have successful careers.
While the downturn may have eased skills shortages recently, over the longer term the oil industry is going to need all the talent it can find, and putting barriers to women’s employment is clearly going to be counter-productive. But making the industry more workable for women would require some radical changes. Read more
By Izabella Kaminska
As reported here, over the last month we’ve seen the negative correlation between oil and the dollar stage an impressive return. As Stephen Schork of the Schork Report points out on Tuesday, its comeback echoes the correlation seen back in June 2007-2008. He notes that back then:
The June 2007–08 timestep saw one of the most extreme examples of negative correlation in recent memory. Oil prices and dollar rates between June 2007 to April 2008 (see above) had a negative correlation of negative (0.9477)!
Correlation began rising again from negative (0.63) in April to negative (0.94) in May. In fact, on any given day between the end of April and last week, if Crude booked a loss the dollar booked a gain (and vice versa) 80% of the time. Read more
A few reports around yesterday suggested that planes might be less environmentally harmful than trains. If you thought that sounded odd, so did Infrastructurist, who were somewhat annoyed with the simplified headlines given to some reports.
The paper itself, by Mikhail V Chester1 and Arpad Horvath at UCL Berkeley, says there is more to it than the environmental cost of transport systems than the journeys themselves – a point summed up in its title: “Environmental assessment of passenger transportation should include infrastructure and supply chains”.
One part of the paper compares the greenhouse gases emitted simply in operating a mode of transport to the total cost per passenger kilometre travelled (PKT).
To estimate this second figure, the paper goes quite far into the background costs of various types of transport. Read more
Miles Johnson writes:
The price of oil rose for the first time in two days on Tuesday, aided by a weaker US dollar and encouraging economic data from China. Read more
The 13-year case against Shell over the execution of nine Nigerian activists in 1995 has been settled out of court, with the oil company paying $15.5m to the plaintiffs.
It ends the case launched by relatives of Nigerian activist Ken Saro-Wiwa and eight others, who were hanged in 1995 after campaigning against Shell’s activities in the Ogoniland region of the Niger Delta, and against the then military-led government. Read more
- Shell chief calls for pay reforms
Jeroen van der Veer steps down this month (FT)
- Korean oil group considers Addax tie-up
The state-owned group is considering a takeover or asset deal (FT) Read more