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CEO of energy company Total, Patrick Pouyanne, speaks during the Oil and Money conference in London on October 30

Patrick Pouyanne, the new chief executive of Total, speaks at a conference in London on October 30  © BEN STANSALL / AFP / Getty Images

The guard is changing in the international energy sector. Shell, Total, BG, EDF, Areva and a host of other companies have appointed — or are about to appoint — new leaders. There are more to come, including strong rumours of a change at Gazprom as it struggles to cope with the implications of sanctions, a shrinking market and sector-wide dividend cuts, and as other companies adjust to the sharp fall in prices and realise that there are no contingency plans to cope with sub-$80 oil. Read more

Last week I wrote about the forthcoming independence referendum in Kurdistan. To move from events there to what is happening in Scotland is a surreal experience. In Erbil the vote will be a deadly serious matter which could create a new country for a nation which as they say has no friends but the mountains having been a victim of international betrayal and cynicism for centuries. There is no knowing whether the Kurdish referendum will end in triumph or tragedy. In Edinburgh what should be an equally serious debate about breaking the relationship with the rest of the UK is now close to a farce. Read more

Flying east over the mountains into the new international airport of Erbil, the administrative capital of Kurdistan, you are conscious of entering history. Times past – how many wars just have been fought around the citadel in Erbil – one of the oldest known settlements in continuous occupation in the world – over its 5,000 year history? But also current history because what is happening in Erbil now could reshape not just Iraq but the rest of the Middle East. And, almost incidentally, the world oil market. Read more

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Why are renewables moving so slowly? Of course the output of renewable energy is growing in absolute terms and in terms of market share in most countries in the world. But the growth starts from a very low base. On the International Energy Agency’s latest numbers, renewables provide just 13 per cent of total global energy needs at the moment, and will provide only 18 per cent by 2035. If traditional biomass is excluded the figures are 7 per cent and 14 per cent.

The problem is cost. Electricity produced from offshore wind and solar costs somewhere between 50 and 100 per cent more per MW/hr than power from natural gas and, with some variations, will continue to do so for the next decade unless one makes the assumption that gas prices are going to increase. Onshore wind is cheaper and in the US in particular is the closest of all the renewables to being competitive without subsidies. Read more

Storms ahead? Photo by Getty

Spare a thought on this bright summer’s day for two men struggling to reconcile truth and political reality.

Oliver Letwin, Cabinet Office Minister in the UK government and Jo Johnson MP, head of the No 10 policy unit, have the task of writing the first draft of the Tory Party’s manifesto for the election next May. The manifesto will have to include something on energy policy.

Both Mr Johnson and Mr Letwin are decent men who can generally be relied upon to speak and act honestly and honourably. That is where their problems begin. On energy policy how can they tell the truth about a policy which by common consent – among business, academics and the serious NGOs – is a costly failure? Read more