Russia’s plan to reorient its energy trade towards the east has taken a leap forward with the start of oil exports through a new pipeline to China. Read more
Oil prices neared 27-month highs yesterday, and analysts are expecting the run to go on and on. A survey of analysts yesterday by Bloomberg found they expected 2011′s average price to be the second highest ever.
Today, Barclays Capital has added to that sentiment, producing its list of five predictions for the oil price for 2011. Not one of them reads well for consumers. Read more
In Beijing on Tuesday, long lines began to form around gas stations across the city. It was one of the first tangible signs of the government’s decision to raise fuel prices, which went into effect Tuesday at midnight. Read more
While the rest of the climate-change world went to Cancun to watch the UN just about rescue its process, HSBC sent a team of intrepid researchers to China, from where they returned with much more overtly bullish news on clean energy. Read more
In this week’s readers’ Q&A session, Ditlev Engel, CEO of Vestas, the world’s biggest wind turbine manufacturer, answers your questions on the future of wind power.
In the first of two parts, Ditlev defends his industry’s government subsidies, explains his company’s decision to axe 3,000 jobs and discusses the major global obstacles to developing wind energy. Read more
Last week I wrote about the spike in Chinese demand for coal, which was driving a boom in coal M&A deals.
The phenomenon has not gone unnoticed by environmental campaigners, many of whom are quoted in a piece today in the New York Times. Read more
Just two days ago the Wall Street Journal picked up on Chinese state media reports that the government was worried it might run out of coal. The paper reported:
State-run media reported that Beijing is considering capping domestic coal output in the 2011-2015 period, partly because officials worry miners are running down reserves too quickly to meet the needs of a rapidly expanding economy.
Those signals have been picked up by companies around the entire world, who are now clamouring to meet that demand. Read more
A fascinating (and ever so slightly gruesome) story from Leslie Hook, reporting from Beijing in today’s FT.
The Chinese government’s commitment reduce energy consumption per unit of GDP by 20 per cent from 2005 levels has led to power rationing, which in turn has fuelled a boom in diesel-powered electricity generators. Read more
India may be catching up with China in terms of GDP growth but it still lags far behind on electricity provision. The contrast between the two global heavyweights is stark: nearly 404m Indians currently live without any electricity at all, compared to 8m Chinese. Read more
China suffered its largest-ever oil spill in July and the danger it poses has not yet gone away: problems flared up again at the weekend when an oil tank caught on fire during ongoing cleanup efforts at the Xingang port in Dalian. Read more