Daily Archives: February 14, 2011

Kiran Stacey

Firstly, an apology. We are still not ready to publish the Q&A session with Josh Fox. I will publish an update with a full explanation tomorrow (Tuesday), but for now, thanks for your patience.

While we wait for Josh’s answers, please start sending in your questions for Terry Duffy (pictured right) and Craig Donohue (pictured left), the chairman and CEO of CME Group, respectively.

The Chicago Mercantile Exchange is the home of the flagship WTI oil contract, and Duffy and Donohue are perfectly placed to answer all your questions about oil pricing: from why the spread between WTI and Brent is so high; to the possibility of a brand new flagship conquering the market; to what role speculators have played in pushing it up so high.

The deadline for questions is Sunday, February 20th, and their answers will be published on Friday, February 25th.

Kiran Stacey

Shell has produced a lengthy update to its Shell Scenarios today, laying out what the company believes will be the themes affecting the energy industry until 2050.

Its core findings are summed up in this article from The Times (£). The general trend is not particularly shocking: emerging market energy demand will outstrip that from the OECD, and diminishing supplies will lead to a potentially vicious squeeze.

But the scale of the problem as far as Shell sees it is stark. It thinks the gap between supply and demand could be equivalent to the global energy industry’s entire output in 2000.

Kiran Stacey

As reported in the FT on Monday, green campaigners in the UK have stepped up their attack on the carbon floor price, calling it a “windfall” for the nuclear industry.

They first made this warning in the immediate aftermath of the electricity market reform announcement, but now Greenpeace and WWF have put some numbers to their arguments.

They say the move could benefit the nuclear industry by up to £3.4bn, which would effectively be a subsidy, and so breach the coalition agreement.

FT Energy Source

- GE to pay $2.8bn for John Wood unit – FT

- Energy groups hope Egypt will not interrupt output – FT

- Kinder Morgan rises after flotation – Bloomberg

- Siemens eyes big network purchases – FT

- Brazilian ethanol best hope for replacing oil, says BP – The Sunday Telegraph

- Emerging nations to widen energy gap – The Times (£)

- US offshore regulator sits on Gulf permits – FT

- Spill commissioners call for review of energy policy – NY Times Green blog

- Pitfalls of the US cheap gas habit – FT

- Navy urged to act against Somali pirates – The Sunday Telegraph

- Australia ‘plans carbon tax from 2012′ – Reuters

- Nuclear industry windfall feared – FT

- ‘Bonfire of the quangos’ threatens climate change committee – The Guardian

- Warning of skills threat to green energy aims – FT

- New Jersey wants to see benefits from offshore wind – Argus

- Powerfuel revives clean coal hopes – The Telegraph

- TNK-BP ‘likely’ to seek role in BP deal – FT

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