Daily Archives: July 14, 2010

Sheila McNulty

The presidential panel tasked with finding the cause of the oil spill in the Gulf began work Monday with a hearing in New Orleans. Yet most of the commentary from various experts throughout the day was about what was being done to stop the leak, which is still gushing in the Gulf, and the damage it is having to Gulf Coast states. Even Texas is now seeing some oil on its shores.

But the problem with probing an incident that is still unfolding is that everyone is too intent upon the here and now – as well they should be in this case - to have the luxury of time to look back for lessons learned. Indeed, Kent Wells, BP senior vice president, used his testimony before the panel to answer questions about what the UK company was doing to stop the leak. And nobody asked him what he thought caused the accident. He probably could not have answered that, anyway. Read more

Fiona Harvey

Rumours of the death of the clean energy industry in the recession were exaggerated, it seems: new investment in clean energy technologies, companies and projects “held steady” in the second quarter at $33.9bn globally, according to a new analysis by Bloomberg New Energy Finance. Read more

Kate Mackenzie

So much for BP’s plans to try cutting off the flow of oil with its newly-installed cap on Tuesday. It appears that the US administration, in the form of energy secretary Steven Chu and USGS director Marcia McNutt, has stepped in and demanded more analysis before the valves are shut off. Are they worried that the test itself would threaten the well casing? Read more

FT Energy Source

South Korean businesses understand the importance of pursuing clean energy markets. But for all the big spending plans, the definition of ‘green’ is worryingly vague in the OECD country that is the fastest growing source of greenhouse gas emissions. Read more

Kate Mackenzie

- NOAA ‘hoarding key data’ on oil spill damage

- Is India too late to the Asian oil-guzzling party?

- Lessons from Exxon Valdez have gone unheeded

- Chip industry tactics to be emulated for energy research

- Russia’s oil trap [And more] Read more

Kate Mackenzie

- Abu Dhabi eyes BP stake purchase – FT

- Kerry, Lieberman circulate climate plan focused on power plants – The Hill

- Cause of Alberta oil sands well blowout unclear – The Chronicle Herald

- Kazakh duty ruling rewrites oil terms – FT

- European groups spend 800m on carbon credits – FT

- Nigeria’s ‘insolvent’ state oil company needs $6.6bn – AP

- The 4th spill bill: $99.7m – Houston Chronicle [And more] Read more

Sheila McNulty

Growth in oil drilling has outpaced natural gas wells in the US. Despite the boom in shale gas production, low gas prices are driving companies look for ever more difficult sources of oil, such as shale oil, tight oil, and ‘halos’ around mature reservoirs. Read more