Daily Archives: October 5, 2009

Ed Crooks

On Energy Source:

Is natural gas a true low-carbon option?

Libya’s new resource nationalism

Cnooc of China pops up across Africa

Oil back below $70

Elsewhere:

A US energy bill is “not likely” to be passed in time for the Copenhagen climate talks, but could be well advanced by then, says top White House official (NY Times)

Memories of Kyoto shape US policy for Copenhagen (Washington Post)

The US energy bill backs the natural gas industry (Fort Worth Business Press)

India talks tough, but “is not going to be a spoiler at Copenhagen” (NY Times)

Cellulosic ethanol is falling short (R-Squared energy blog)

If Iran is not resolved in the next year, a strategy of containment may be the only option (Energy Outlook)

Great pictures of US power plants and other energy facilities (The Guardian)

…and a spoof: Shell the target for comedy website (The Onion)

Carola Hoyos

Libya appears to have taken another step towards nationalising its oil and gas industry by setting up the Supreme Council of Energy Affairs. On paper, the organ does not look terribly different to the Supreme Council of Oil and Gas Affairs. But in practice the new body is likely to wield a much different sort of influence. It will oversee production and development targets, contract negotiations and the development of alternative energy and will have regulatory as well as executive functions. But what will set it apart most of all, is the power-brokers behind it.

Ed Crooks

Using natural gas instead of coal for power generation is a clear improvement in terms of carbon dioxide emissions: the carbon dioxide output from a gas-fired power station per kilowatt hour is about half that from a coal-fired plant, as is discussed in the FT’s special report on gas, published today.

It is an argument that is being made increasingly vocally by gas producers such as BP, and has found favour with senators John Kerry and Barbara Boxer, who have included measures to help the natural gas industry in their energy bill now before the US Senate.

However, there is a debate brewing about whether gas can really be anything other than a stop-gap, a transition “bridge fuel” on the route to a low-carbon future.

Oil prices fell on Monday while base metals were mixed as commodity markets made a hesitant start to the new trading week amid concerns about the global economy’s recovery prospects.

Crude oil prices extended Friday’s fall with Nymex November West Texas Intermediate down 38 cents to $69.57 a barrel, while ICE November Brent lost 40 at $67.67 a barrel.

Francisco Blanch, head of global commodities research, at Bank of America Merrill Lynch says crude prices could spike well above the $100 a barrel level entering 2011 without firm policy action to reduce global oil demand.

Mr Blanch said oil prices were the rope in a tug of war between the US and Asia over energy supplies which could put recovery in the global economy at risk as early as the second half of next year.

Merkel’s return to power boosts nuclear industry
Chancellor to demand state gets share of profits (FT)

VW’s bold design to give power to the people
Carmaker starts to build miniature power generators (FT)

EDF to sell off UK electricity distribution arm
Hopes to attract offers in excess of €4bn (FT)

Nigeria’s Oando to develop Ghana’s natural-gas sector
Project is worth US$1bn (Reuters)

Editorial comment: US Senate climate bill

Energy Source is no longer updated but it remains open as an archive.

Insight into the financial, economic and policy aspects of energy and the environment.

Read our farewell note

About the blog

Archive

« Sep Nov »October 2009
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031