On FT Energy Source this week:
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Will big tech companies invest in UK offshore wind? The FT’s Ed Crooks reports they are thought to be considering it:
John Lynch, the head of power for Europe at Bank of America Merrill Lynch, said he “would not be surprised” if information technology companies keen to cut their carbon dioxide emissions were to invest in European offshore wind “in the not too distant future”.
Google and Microsoft both refused to comment on possible future investment plans, but a commitment to offshore wind would fit with their strategies to reduce the cost and environmental impact of their electricity consumption.
There are many reasons why this could make sense. Companies like Google and Microsoft are big electricity users, because of their huge data centres. The US Environmental Protection Agency estimated data centres accounted for 1.5 per cent of US electricity consumption in 2006 and that this would rise to 3 per cent in 2011 (and with industrial electricity consumption falling because of the recession, perhaps that forecast will turn out to be conservative). Read more
That’s what analysts at Barcap say – in fact, they argue in a weekly note, the effect of the weak dollar on all commodities markets is not so great as it might seem.
Firstly, they write, the movement of different commodities markets in recent weeks are divergent enough to undermine the view that the dollar is the “main driver” of price moves. Read more
Is the battle for Ghana’s newfound oil riches about to become even bigger?
ExxonMobil has agreed to buy private equity-owned Kosmos’ 23.5 per cent stake in the massive Jubilee offshore oilfield, which is believed to hold 1.8bn barrels, for more than $4bn. But the Ghanaian government wants the national oil company, GNPC, to get in on the deal, perhaps with China’s CNOOC. GNPC argues that the Kosmos-Exxon agreement took place after data was given out to 26 prospective bidders in a ‘breach’ by Kosmos, and any bidder for the company would need to remedy that breach. Kosmos sources say the Exxon deal is done, and it is binding.
So, just to muddy the deep waters further, is BP getting involved? Read more
Google and Microsoft eye wind farm investments, energy adviser says
Multinationals aim to ‘green’ their electricity use (FT)