Daily Archives: February 24, 2011

Kiran Stacey

The row about UK solar feed-in tariffs rumbles on. This morning, Energy Secretary Chris Huhne tried to persuade people in the South West that solar subsidies should not go to the kind of large-scale solar farms that are being developed in that part of the country.

His words seemed to back some of the arguments used by large-scale solar developers, who are up in arms about the government’s move. Firstly, even though the government is only announcing a review of which projects are eligible for subsidies, Huhne seems to have prejudged its outcome:

A 5MW solar farm could deny around 1500 homes from claiming FITs for solar panels on their roofs… At the moment the risk is, if we don’t deal with the excesses, then the whole thing will come grinding to a halt.

Kiran Stacey

Just yesterday I was listening to the chief economist at the Centre for Global Energy Studies explain calmly why the oil price was unlikely to hit $150 a barrel. Today, it has taken a huge jump in that direction, peaking at more than $119.

Analysts are scrambling to update their forecasts. Here are some of their more important/interesting thoughts:

Hitting the wires at pixel time — an astonishing promise:

RIYADH, Feb 24 (Reuters) – Saudi Arabia is willing and able to supply high quality, light oil to replace any lost Libyan crude, senior Saudi sources said on Thursday.

“Saudi is willing and capable of supplying oil of the same quality, either Arab extra light or through blending,” one source said…

Some West African crude, such as Angolan crude can also be redirected to Europe, the sources said, while Saudi Arabia could temporarily send extra oil to Asia to compensate.

FT Energy Source

- Saudi’s $36bn to beat unrest – FT

- Libya shutdowns send oil soaring – FT

- Opec’s soothing words fail to calm – The Times (£)

- Nomura warns oil could hit $220 a barrel – The Telegraph

- Why disruption to Libyan oil has led to a price spike – NY Times

- Exxon, Shell ‘hacked via Chinese servers’ – Bloomberg

- Hunt for top-grade crude sources begins – FT

- North Sea ‘has more oil than was thought’ – The Times (£)

- How big is the 2011 oil price shock? – Gavyn Davies, FT

- Rio extends bid deadline for Riversdale – Argus

- Centrica reports higher profits and sales – Reuters

- Centrica signs £2bn gas deal with Qatar – FT

- RWE sees significant pressure on earnings until 2013 – WSJ (£)

- Origin posts loss and flags equity raising – WSJ (£)

- EU outlines ETS security measures – Argus

- Australia to tax carbon from July 2012 – Bloomberg

- Australia electricity prices jump on carbon scheme – Reuters

- Target ‘black carbon’ to tackle climate change, says UN – The Guardian

- Solar energy faces tests on greenness – NY Times

- Google Ventures invests in power-saving technology – Reuters

Energy Source is no longer updated but it remains open as an archive.

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