Tag Archives: oil

Support to fossil fuels remains high and the time is ripe for change

Government support to fossil fuel consumption and production in OECD countries and key emerging economies remains high, at USD 160-200 billion annually, according to a new OECD report. This support is hampering global efforts to curb emissions and combat climate change.     The OECD Inventory of Support Measures for Fossil Fuels 2015 takes stock … Continue reading Support to fossil fuels remains high and the time is ripe for change

Continue reading

BP Statistical Review shows 2014 was a year of ‘tectonic’ shifts in global energy production and consumption

The 2015 edition of the BP Statistical Review of World Energy, launched today, highlights how significant changes in global energy production and consumption have had profound implications for prices, for the global fuel mix, and for global carbon dioxide emissions. The 64th annual edition of the Statistical Review highlights the continuing importance of the US … Continue reading BP Statistical Review shows 2014 was a year of ‘tectonic’ shifts in global energy production and consumption

Continue reading

A business-as-unusual outlook for oil in the medium term

The recent crash in oil prices will cause the oil market to rebalance in ways that challenge traditional thinking about the responsiveness of supply and demand, the International Energy Agency (IEA) said in its annual Medium-Term Oil Market Report (MTOMR) released today. The US light, tight oil (LTO) revolution has made non-OPEC production more responsive … Continue reading A business-as-unusual outlook for oil in the medium term

Continue reading

Oil doesn’t directly compete with solar energy and wind power

Renewable-energy companies have made tremendous strides in reducing costs and growing markets. So what the Fed does on interest rates next year is crucial. The longer low inflation stays the Fed’s hand, the more time the renewable industry has to funnel cheap capital toward its next breakthrough. Oil’s volatility upward makes consuming nations want to … Continue reading Oil doesn’t directly compete with solar energy and wind power

Continue reading

Oil price plunge and renewable energy

The 45% fall in oil prices is being portrayed as a big blow to clean energy deployment. In fact, its impact will vary by sector and region, but will be modest in major electricity markets where renewables compete with gas and coal, and benefit from stable policy support. The collapse in world oil prices in … Continue reading Oil price plunge and renewable energy

Continue reading

BP Statistical Review shows strength of global energy system amid disruptions and shifting world economy

The BP Statistical Review of World Energy 2014 – launched today at the World Petroleum Congress meeting in Moscow – reveals how the world of energy echoed broader global themes in 2013. Emerging differences in global economic performance, geopolitical uncertainty and ongoing debates about the proper roles of government and markets are all reflected in … Continue reading BP Statistical Review shows strength of global energy system amid disruptions and shifting world economy

Continue reading

Rising energy demand a threat to water supplies

Rising demand for energy, from biofuels to shale gas, nuclear power, coal and oil, is a threat to freshwater supplies that are already under strain from climate change, the United Nations said in a report on Friday. It urged energy companies to do more to limit the use of water in everything from cooling coal-fired … Continue reading Rising energy demand a threat to water supplies

Continue reading

What A Year: 45 Fossil Fuel Disasters The Industry Doesn

While coal, oil, and gas are an integral part of everyday life around the world, 2013 brought a stark reminder of the inherent risk that comes with a fossil-fuel dependent world, with numerous pipeline spills, explosions, derailments, landslides, and the death of 20 coal miners in the U.S. alone. Despite all this, our addiction to … Continue reading What A Year: 45 Fossil Fuel Disasters The Industry Doesn

Continue reading

Oil

Fossil fuels continue to power global economic growth and energy security, and the competition for these resources remains a significant concern for governments around the world. Although OPEC has played a key role on the production side of the international oil market over the past four decades, the consumer landscape has changed dramatically since 1973. … Continue reading Oil

Continue reading

Fossil fuels dominate energy consumption

Coal, natural gas, and oil accounted for 87 percent of global primary energy consumption in 2012. The International Energy Agency predicts that by 2017 coal will replace oil as the dominant primary energy source worldwide. Global natural gas production grew by 1.9 percent in 2012, dominated by the United States (with 20.4 percent of the … Continue reading Fossil fuels dominate energy consumption

Continue reading

Ecuador approves Yasuni park oil drilling in the Amazon

Ecuador has abandoned a conservation plan that would have paid the country not to drill for oil in previously untouched parts of Yasuni National Park in the Amazon rainforest. President Rafael Correa said rich nations had failed to back the initiative, leaving Ecuador with no choice but go ahead with drilling. The park is one … Continue reading Ecuador approves Yasuni park oil drilling in the Amazon

Continue reading

China’s government plans to boost its goal for solar power installations by 2015 from 21 GW to 35 GW

The decision, which is expected to help the country’s struggling PV manufacturers, was made in response to the high levels of hazardous pollution currently affecting Beijing and other Chinese cities. Beijing in China has seen smog in the city reach record levels this January and intends to do something about it. Fossil fuels have played … Continue reading China’s government plans to boost its goal for solar power installations by 2015 from 21 GW to 35 GW

Continue reading