William MacNamara

On Energy Source:

Deutsche: The end is nigh for the Age of Oil

Elsewhere:

California could be leading the way on smart metering (Businessweek)

US Army warms to Qinetiq’s power-from-waste technology (BBC)

Mexico’s oil industry in swift decline, worse than depletion rate of its offshore fields (Economist)

Gasifying coal underground could slash the cost of carbon capture (Technology Review)

German solar energy companies, concerned about loss of new government’s support, say they are in bind (AFP, Physorg.com)

William MacNamara

The week ended with Cnooc poised to take over more of Africa’s oil provinces, in the minds of some, as reports indicated the Chinese state-owned oil company was “in talks” with the Ugandan government about investing with London-listed Tullow Oil to develop the Lake Albert fields in western Uganda.

William MacNamara

The Prius paved the way for stylish green cars, but we are seeing the rollout of electric vehicles that would not be out of place in the opening scene of a James Bond film. Tesla’s electric Roadster has gotten rave reviews: “The car looks hot and rides hot. It’s a smile machine”, Scientific America’s reviewer says.

Morgan Motor’s fuel-cell electric prototype, the LIFECar, is now in prototype form eliciting reactions at a recent Morgan show in Pebble Beach. Morgan, the (cult) classic English carmaker that limits production of its 1930s-style roadsters to a few thousand a year, is developing the project in connection with Qinetiq. Very sleek, retro-chic (and, more than likely, prohibitively expensive), the Lifecar will set a new standard for green vehicles when it makes its long awaited debut.

The divide between fuel-efficiency and consumer has been bridged with such prototypes. Now the main problem is affordability. Both of these specimens will market at well over $100,000.

William MacNamara

On Energy Source:

Geo-political tensions outweighed by sluggish demand as oil prices drop

Further reading:

Cashing in on green investment agenda, ex-White House veteran Van Jones to launch fund (NYT)

Paul Krugman feels “despair over the fate of the planet” (NYT

California sets aside $3bn in biggest energy efficiency programme (MSNBC)

The future of scrap and landfill recycling (Oil Drum)

China’s M&A moves are now more sophisticated (FT)

Yemen at risk of becoming a failed state (FT)

William MacNamara

Further reading:

NYT opens new line in the Peak Oil debate – are supply fears overblown, or does the NYT “have no clue”? (Oil Drum)

Peak Oil sceptics might soon be pointing to Norway’s ‘gates of hell’ (Bloomberg)

Reinventing the light bulb (NYT)

Maglevs, a green mode of transport that might be getting less quixotic (Infrastructuralist)

Citi is bullish on supply and demand for coal, in 40-page report on state of the global industry (Citi Research)

William MacNamara

There is still risk of falling in to political quicksand but Iraqi Kurdistan continues to draw oil explorers eager to own a piece of the next big thing. For Gulf Keystone, that means exiting Algeria in favour of Kurdistan, if it can find a buyer for its Algerian joint venture interest before the joint venture falls apart.

William MacNamara

On Energy Source:

Waxman-Markey and 77c gasoline increases

What oil price can America afford?

Markets: Nigeria attacks help push crude oil higher

Elsewhere:

Nasa climate scientist arrested protesting coal mining (Yale Environment 360)

Solar “concept tent” unveiled by Orange at Glastonbury (CNET)

Svanberg of Ericsson named new BP chairman (FT)

Brazil’s Vale may buy stakes in Petrobras offshore blocks (Reuters)

Total to invite Gazprom to join in developing African projects (Reuters)

Nigerian militant group says attacked Shell pipeline (Bloomberg)

The financial return on energy invested (Oil Drum)

William MacNamara

Monday marked the official start of oil exports from Iraq’s Kurdistan region, celebrated by a ceremony complete with strobe lights and a musical score.

For investors who have attempted to follow the byzantine politics leading up to this event, Monday might have appeared the breakthrough that has been anticipated for a long time, after lengthy tussling between Iraq’s central government and the Kurdistan Regional Government over who had the right to authorise exports, and under what terms.

Except for the payment problem.

William MacNamara

The Kurdistan Regional Government (KRG) of Iraq claimed this morning that oil would soon be commercially exported from its large fields, in an apparent resolution of a long-running dispute between the KRG and Iraq’s central government about who grants Kurdistan’s oil licenses and how Kurdish oil revenues will be shared.

But the Iraqi oil ministry denied any deal had been completed, according to Reuters reports from Baghdad, and the oil companies that stand to gain most from a resolution backed away from the statement, saying they had not yet received word of anything concrete.

William MacNamara

The uranium trade resembles the diamond market in some ways: it is rather opaque and mysterious, and also lends itself to “it can only go up” narratives. In the case of diamonds this narrative is, “Asians will earn more and more money and buy more and more engagement rings, and meanwhile no one is building new diamond mines.”

In uranium it boils down to, “Asians are building more and more nuclear power stations to solve their energy problems, and meanwhile no one is building new uranium mines.”

Once again, it is a new dawn for uranium prices and uranium miners, according to a report by RBC Capital Markets.

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