Quote of the week
“We’re not against alternatives and renewables. But to say we want to get off fossil fuels to (replace them with) an alternative is unrealistic.”
- Jim Mulva, chief executive of Conoco Philips, says – similarly to many of his big oil peers – that oil and gas will be needed for decades to come
Image of the week: Solar balloons
Scientists at Cool Earth Solar in Livermore, California, display their solar ‘balloon’: the concentrator consists mainly of thin-film plastic and air, and concentrates the sun’s rays 400 times. Not as silly as it might sound, according to The Economist (see also: floating wind turbines).
Number of the week:
The increase in China’s oil demand (year-on-year) in May.
PLUS: Energy Source posts of the week:
That €400bn Europe-Africa solar plan, explained
The Gazprom song, and the responses
More from Goldman on its renewed bullishness on oil
What Monty Python can tell us about commodities, via John Authers
Foreign oil executives watch Iran’s protests and wonder…