Having been proven right about their prediction of a rather substantial correction in commodities earlier this month, Goldman Sachs is now out with a new view.
A bullish view.
Among the hardscrabble nations of Central America, renewable energy involves no high-falutin’ principles. It is an essential weapon in a battle for survival as well as a hope for prosperity in some of the frailest economies of the Americas.
Central America has no oil, save for a few thousand barrels a year from Guatemala. It has no coal, nor any natural gas. With the region’s annual oil import bill running at more than $7bn a year and rising, volatility in world oil markets competes with the notorious vulnerability of the region to natural disasters as a major threat to economic stability.
Hence, the quest for renewable energy resources is drawing some 600 representatives of businesses, governments, aid agencies and NGOs to a “Clean Energy Summit” in Guatemala on Monday and Tuesday.
Energy headlines: Risk aversion takes toll on oil
- Risk aversion takes toll on oil – FT
- Oil rises after Goldman raises forecast – Bloomberg
- Ahmadinejad will not attend Opec – Argus
- BP-Rosneft deal ‘dead’ for now – WSJ
- Talks between BP and Rosneft continue – The Telegraph
- Tullow buys Dutch North Sea fields – WSJ
- Shell rapped over North Sea incident – The Telegraph
- MPs back shale gas drilling – FT
- Clegg unveils Green Investment Bank – The Guardian
- Rottgen sees rewards in non-nuclear policy – FT
- Merkel warned nuclear shutdown may mean blackouts – The Guardian
- California carbon market on ice – Reuters
- Gauge agreed for biofuel effects on world – FT
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