Daily Archives: July 14, 2009

Kate Mackenzie

On Energy Source:

Exxon’s biofuels research is not so shocking

Nabucco: How the pipeline can get enough gas

Chu’s China challenges

Opec runs into a compliance dilemma

Markets: oil leads commodities higher

Why the CBI wants less wind

Further reading:

SEC considers climate change disclosure rules for companies (ClimateWire)

Ed Miliband, UK energy and climate change secretary, on West Wing-style infighting in the energy industry, and overcoming his aversion to nuclear power (Guardian)

Number of onshore wind turbines in the UK to quadruple under Renewable Energy Strategy (The Times)

Small town fears quakes from geothermal projects (Sacremento Bee)

Is it really back to the Carter years for renewables and energy security? (National Journal)

Gas flaring in the Niger delta is an injury and an insult (Gregor)

Nabucco: building dreams on solid grounds (Andris Piebalgs)

Turning carbon dioxide into petrol, in Poland (New Energy and Fuel)

Oil prices rose on Tuesday while base metals enjoyed a broad advance and gold regained the $920 level as weakness in the US dollar helped commodity markets stage a recovery.

Ed Crooks

Exxon, the west’s biggest oil company, has launched a new research programme into producing biofuels from algae, in a break from its general antipathy towards alternative energy.

At first sight, this looks a pretty bizarre thing for the company to be doing. Rex Tillerson, Exxon’s CEO, has been consistently sceptical about biofuels, even the advanced “second generation” variety. (Or, as Steven Chu, US energy secretary, described them to the FT, “fourth generation” biofuels.)

In fact, it is not as odd as it might seem.

Kate Mackenzie

US energy secretary Steven Chu arrives in China today for the latest in a series of trips by high level US officials to Beijing in the lead up to the Copenhagen meeting in December. Although neither country is pursuing a bilateral deal, a good part of the success of Copenhagen will depend on whether the two biggest emitters of greenhouse gases can both make concrete concessions and commitments. But after the optimism over last week’s G8 commitment, this week is looking decidedly grim.

Many countries, including China, say they want the US to legislate for carbon emission cuts before making their own commitments at Copenhagen in December. But in an increasingly familiar scene of climate change chicken, some US political constituents want China to make its own commitments before supporting legislation in their own country – and that is something that China has so far resolutely refused.

James Fontanella-Khan

Iraq offers half gas needed for Nabucco
Move goves the project a boost (FT)

Editorial comment: No pipe dream
European energy security still faces serious challenges

Exxon to invest millions to make fuel from algae
The US oil giant is about to venture into biofuels (NYT)

India’s ONGC/OVL in race for Ghana fields
may buy a 30 percent stake in Jubilee oil fields (Economic Times)   

Posco operating profit hits nine-year low
S Korea’s largest steelmaker continues to feel the impact of lower demand (FT)

Russia Gazprom to cut ’09 capex
Putin said investments would be cut to 775bn roubles from 920bn (Reuters)

Jakarta’s ecological crisis fails to sink in
World Bank specialist says it is hard to overstate the emergency (FT)

Libya to Move on Oil Deal
Sale of a small Canadian oil exploration firm in Libya is at stake (WSJ)

Emerald confirms takeover discussions
Talks add to this summer’s flurry of activity among smaller oil companies (FT)

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