Daily Archives: May 13, 2011

Sheila McNulty

While the lack of a coherent national energy policy is nothing new for the US, Standard & Poor’s ratings service says in a new report that Washington’s current inability to definitively establish long-lasting energy policies and regulations distinguishes today’s situation from earlier eras. I quote:

Making resource decisions and committing a utility’s balance sheet to support those decisions has never been more complicated or littered with more potential pitfalls, and diminishing credit quality is a result.

Clear policy direction and consistent application by all branches of government of the various policies, ideally with maximum flexibility and abundant time for implementation, would benefit utility bondholders by promoting credit stability.

By Iona Teixeira Stevens in São Paulo

Sir John Beddington, chief scientific adviser to the UK government, might not have realised it but his visit to Brazil this week came at a crucial time for the Brazilian ethanol market.

At a conference on climate change, Sir John reminded those present that “Brazil is the largest producer of research in agricultural science … and is the world leader in bio energy”. Ethanol accounts for about half the non-diesel fuels market in Brazil.

But recently, Brazil’s ethanol market has been struggling due to a delayed sugarcane harvest, forcing it to import a significant amount of biofuel from the US. With ethanol prices rising, it has raised questions once again about the viability of biofuels in a world that increasingly needs to till land for food.

FT Energy Source

- Oil demands flatten as prices spike – FT

- IEA: Oil’s bull run may continue – WSJ

- Prices wipe out bids to cut fuel subsidies – FT

- Subsidies give Saudis an appetite for oil – FT

- Nations race to ‘carve up’ Arctic – NY Times Green blog

- Arctic nations step up cooperation on safety and oil – Reuters

- Petronas to develop $20bn Malaysian oil hub – Bloomberg

- Senators quiz US chiefs on $2bn tax deals – FT

- Oil executives defend tax breaks – WSJ

- Japan delays Tepco quake aid plan – FT

- Tepco still on emergency footing – FT Lex

- Is Japan really winding back on nuclear? – Martin Dusinberre, The Guardian

- Disaster plan problems found at US nuclear plants – NY Times

- Enel net profit rises 14 per cent – WSJ

- LNG unit helps Repsol shrug off losses – FT

- Coal India net profit climbs 24 per cent – WSJ

- Wave scheme a splash closer – The Times


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