Daily Archives: January 12, 2011

Kiran Stacey

Suppliers of liquified natural gas are watching the weather almost as closely as New Yorkers right now.

According to a new report by Barclays Capital, one of the only things that kept LNG demand and supply in balance in 2010 was the hellish winter in Europe and what the analysts call “exceptionally supportive weather” elsewhere.

The fact that the two did balance is a near-miracle, the report says:

2010 will go down as a year when the global LNG market somehow balanced despite expanding at seven times the rate of the previous two years.

Kiran Stacey

Now we’ve all had a day to digest the 300+ pages of the National Commission’s report into the BP oil spill, it’s worth taking a look at what the reaction has been from the wise old heads of the print and online media.

First up, the FT’s Sylvia Pfeifer points out how badly US regulation compares to that in other countries:

One of the most damning conclusions of the national commission report was that other countries with strong offshore oil industries, including Britain and Norway, had better regulatory systems than the US.

Where the US Minerals Management Service was clearly not fit for purpose, other countries – often prompted by their own offshore disasters – have put in place regulations that seem to have been more effective at preventing fatal accidents.

Brent has surged to a 27-month high:

It’s now close to one of those psychologically-important levels:

On the other side of the pond, WTI is moving more slowly:

FT Energy Source

- BP spill inquiry calls for safety overhaul – FT

- Oil firms face big bills to raise safety standards – The Telegraph

- Rejecting oil is not an option, says report – FT

- Halliburton challenges report findings – Reuters

- Call for tougher standards – FT

- Verdict on the spill – NY Times

- Colombian farmers sue for negligence – The Guardian

- Alyeska gets approval to open leaky pipeline – FT

- Oil’s rise is a sticky situation for recovery – WSJ (£)

- Cliffs to buy Consolidated Thompson for C$4.1bn – FT

- China’s galloping wind market – NY Times Green blog

- Alstom and Bouygues in eco venture – FT

- US carbon emissions to rise in 2012: EIA – Reuters

- BlueStar to buy Orkla silicon business – FT

- Eon raises UK bills after earnings double – FT

- Riversdale board backs Rio Tinto coal bid – Argus

- Coal prices flare as Australian floods cut supply – FT

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