Daily Archives: January 22, 2010

Kate Mackenzie

On FT Energy Source this week:

- China’s fears about imported oil

- Himalayan glaciers: Not quite another climategate

- The world’s top 280 energy projects

- The real problems with climate science

- Digging deeper into the CFTC’s position limits

- Oil sands get a boost from majors

- Europe losing its climate cool

- A grim future for refining

Investors pressure Shell over oil sands
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Kate Mackenzie

On FT Energy Source:

- Coal and the railways

- How much of a climate bill?

- Healing the climate rift between the poor and the poorer

- A mixed week for Tullow

- The warmest decade, and Total and Statoil quit Venezuelan plans, in Energy headlines

Further reading:

- The excesses of today’s quest for crude, in books

- ‘Opec has no room to expand output’

- Oilwatch monthly: January 2010

- Bill Gates thinks big on energy

- CO2 as a green fuel feedstock

- Most American have no clue about the gasoline tax

- ‘Jobs’ versus ‘Climate change’ in the concern stakes

- Exxon has little to fear from Congress

- The meaning of Massachusetts Read more

Kate Mackenzie

It’s hard not to be pessimistic about the likelihood of the US Congress committing to a cap on carbon emissions, and consequently pricing carbon. The win by Republican Scott Brown in the late Edward Kennedy’s Senate seat has raised a great deal of speculation and no doubt made many representatives up for re-election this year more nervous about supporting either cap and trade or a carbon tax.

The weird thing is, most Americans believe climate change is real, and that something should be done about it. For more striking evidence of that, look at this presentation by (unlikely as it sounds) pollster Frank Luntz for the Environmental Defense Fund (H/T TNR). Actual sceptics only make up 18 per cent; believers in anthropogenic global warming are 52 per cent. Support for cap and trade is not too shabby either, at 49 per cent.  Read more

Kate Mackenzie

It hasn’t been a good year for US railway operators. This week, Union Pacific reported that fourth quarter net income fell 17 per cent while BNSF’s fell 12.8 per cent, and CSX’s full year earnings were 16 per cent lower.

Railways are bound up with other aspects of energy use: as some commentators pointed out when the Berkshire Hathaway bid for BNSF was announced, it was at least partly a bet that future demand for coal and its associated transport would remain strong. Read more

Kate Mackenzie

Speculation has been rife about what might be on the agenda at a meeting this Sunday between leaders from China, India, South Africa and Brazil, where the four emerging giants will discuss their stance on international climate agreements. The meeting reportedly has no set agenda, so there have been guesses at what might be discussed, such as insistence on deeper cuts from developed countries, and advice has been handed out by NGOs to the participants.

India’s Economic Times suggests that transfer of funds from the wealthier developing economies to their poorer and smaller brethren, after signs of factions and anti-China sentiment emerged within the G-77 group of developing nations at Copenhagen:  Read more

Kate Mackenzie

Tullow Oil has something to be cheerful about, despite a setback in its plan to buy Heritage Oil’s Ugandan assets yesterday. The company has found more good fortune off Ghana’s coast, with the Tweneboa-2 exploratory well has yielded a potentially significant find, discovering a combined hydrocarbon column, 6km from the existing Tweneboa-1 well. The 32 metres of net pay comprised 15m of gas-condensate and 17m of oil.

The potential hydrocarbons beneath west Africa’s seas have been been among the biggest discoveries of the past few years.  Read more

Kate Mackenzie

Setback for Tullow over Uganda oil (FT)

BP wants to tap Russian Arctic for oil (Dow Jones)

Past decade was the warmest since records began, NASA study finds (Bloomberg)

S Korea eyes wider nuclear export market (FT)

Venezuela says Statoil, Total won’t develop Junin 10 (Dow Jones)

Coal Authority approves underground gasification study in UK (Argus)

US faces extended power outages, warns world’s largest grid builder (Bloomberg)

World Bank upgrades Middle East region on improved crude demand (The National)

Fifth apparent pay logged in Davy Jones well (O&G Journal)

Petrobras 2009 production up 6% in 2009 (Reuters)

Democrats join Murkowski push to block EPA ruling (Houston Chronicle)

US to probe Chinese oil well drill pipe sales (Reuters)

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