Daily Archives: December 20, 2010

Kiran Stacey

The UK’s freezing temperatures are bad news for travellers, but decidedly good news for gas suppliers.

National Grid has forecast a record day for gas demand, and has been forced to issue a “gas balancing alert” to encourage suppliers to up supply and big consumers to switch fuels or reduce consumption. That’s the seventh time such an alert has been issued since 2005.

All this has been good news for prices too (as long as you’re a seller of course). This was from Bloomberg this morning:

Kiran Stacey

The Times is currently publishing extracts from Loren Steffy’s new book Drowning in Oil, about the BP oil spill, in addition to the extracts on Fuel Fix published earlier this month.

As Ed Crooks said in his review of the book, it is good on drama and detail but less so on telling us anything particularly new about the spill or the company.

The Times extracts are readable and interesting, however. In the first (£), he tells the story of the night of the explosion via two of the crew on board, Stephen Stone and Mike Williams. This is the from williams’ story:

Back in the electronics shop, the first explosion blew the three inch-thick steel door off its six hinges, knocked Mike Williams across the room, and slammed him into the far wall. The door followed and struck him in the head. A line containing carbon dioxide ruptured and began spewing gas into the room, clouding his vision. He couldn’t see. He couldn’t breathe. He crawled along the floor, knowing that oxygen would be more prevalent there, and made it back to the opening where the door had been.

The second is a similarly entertaining read, memorable for one quote in particular, from a “retired oil company executive”: “Tony’s a good guy, bright guy, but he can’t keep his mouth shut sometimes.”

FT Energy Source

- Boom in Canadian oil companies – FT

- ‘Tony Hayward’s a good guy, but he can’t keep his mouth shut’ – The Times (£)

- Mexican pipeline blast kills at least 27 – FT

- Sasol agrees to pay $1bn for shale gas stake – Bloomberg

- Tax cuts for energy – NY Times Green blog

- US ethanol industry faces subsidy battle – Reuters

- Record UK gas demand expected – Reuters

- REPower celebrates wind turbine landmark – FT

- Plug pulled on Australian CCS project – Argus

- Curb on heating oil sales to protect the vulnerable – The Times (£)

- Centrica’s model smooths volatility – FT

- Ministers block Powerfuel rescue – The Guardian

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