China Installs the World’s Largest Battery

Oil Price Daily News Update


Stung by the Keystone XL Debacle, Canada Looks Eastwards

Posted: 20 Apr 2012 05:33 AM PDT

Given that the Keystone XL pipeline is apparently dead in the water at least until after the next presidential election, Canada is seeking new export markets in Asia for its booming oil and natural gas production. Few Americans realize it, but according to the U.S. Energy Administration, the United States total crude oil imports now average 9.033 million barrels per day (mbpd), with Canada sending 2.666 mbpd southwards to the U.S., making it America’s top source of oil imports. In 1988, Canada and the United States signed a free trade…

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Make It So – Energy Science Fiction Becoming Science Fact

Posted: 20 Apr 2012 05:30 AM PDT

It’s no secret that Gene Roddenberry’s venerable “Star Trek” metaseries has inspired the imagination of millions since it first debuted in 1966. Strange worlds, compelling characters, and more techno-babble than you could shake a stick at have always been hallmarks of the series. But Star Trek has also been noted on many occasions throughout the series for seemingly predicting (or perhaps inspiring) the progression of technology.While we’re certainly not cruising the galaxy in starships trying to pick up green women, a lot of Trek tech seems to…

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Gazprom-Vietnam: All Hands on Deck in South China Sea

Posted: 20 Apr 2012 05:28 AM PDT

A deal struck earlier this month between Russia’s state gas giant, Gazprom, and Vietnam’s state oil and gas group, PetroVietnam, has geopolitical underpinnings aimed at China’s prowess in the South China Sea. The 6 April Gazprom-PetroVietnam deal grants the Russian gas giant two licenses to explore the Moc Tinh and Hai Thach fields in the South China Sea off the Vietnamese continental shelf and gives Gazprom a 49% stake in the fields, which translates into some 55.6 billion of cubic meters of natural gas for Russia.While the fields…

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Should we Limit Speculation in the Oil and Gas Markets?

Posted: 20 Apr 2012 05:25 AM PDT

Let’s Play ‘Blame the Speculators’Most people would probably agree that speculation in the oil and gas markets is hurting American consumers. Consider the case of Aubrey McClendon. Mr. McClendon is the CEO of Chesapeake Energy, where he sells natural gas for a living. Natural gas prices have now been pushed down — by speculators — to below $2 per million BTU. This is a drop of more than 80% from 2008 prices. With these depressed prices, Mr. McClendon will have a hard time ever matching his $112 million of earnings…

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Why the West is Supporting an Anti-Western Solution in Syria

Posted: 20 Apr 2012 05:21 AM PDT

A Jihadist, Anti-Western Agenda is Being Forced on Syria The international community has been blindly following a jihadist-driven agenda for Syria; a solution the majority of Syrians reject, but which Turkey and Qatar have been driving. It begs the question: why are analysts in Washington — or Paris or London — not digging more deeply into what is really happening, given that the solution they have endorsed is so profoundly anti-Western? The key test of the Annan plan and ceasefire to help end the widespread violence in Syria came on…

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A New Renewable Energy Source that Could Support Half a Billion People

Posted: 20 Apr 2012 05:19 AM PDT

With ever increasing energy prices, and the knowledge that oil and natural gas will one day run out, scientists and engineers are constantly trying to discover new, renewable sources of energy. A recent article released in the Environmental Science and Technology journal describes a promising study by Ngai Yin Yip and Menachem Elimelech of the Department of Chemical and Environmental Engineering at Yale University.Via a process known as pressure-retarded osmosis (PRO) they believe that enough electricity could be cleanly produced to support the…

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New Opinion Poll Shows 66% of Brits in Favour of Wind Energy

Posted: 20 Apr 2012 05:18 AM PDT

In direct response to National Opposition to Windfarms campaign, launched today, the wind trade body, RenewableUK released the results of a poll it commissioned to determine the public’s true feelings about wind power.Quite tellingly, when asked ‘To what extent are you in favour of, or opposed to, the use of wind power in the UK?’ 66 percent confirmed that they were in favour, whilst only 8 percent voted against. Maria McCaffery, CEO of RenewableUK, said that, “it’s clear that the majority of those surveyed are supportive…

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China Installs the World’s Largest Battery

Posted: 20 Apr 2012 05:16 AM PDT

China now has the world’s largest battery with a storage capacity of 36MWh to combat any intermittence produced by wind and solar power at an adjoining farm.Brain the size of a planet, battery the size of a building – both sound like figures of speech, but the second at least is solid reality. It’s up and running at a combined solar power and wind farm near you.Near you, that is, if you live in Zhangbei, in China’s Hebei province. It’s currently, by a distance, the biggest battery in the world. Or, strictly speaking, thousands of batteries…

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