U.S. Clean Energy Investment Reached $48 Billion in 2011

Oil Price Daily News Update


China Hopes for Progress in Talks between Iran and the UN Security Council

Posted: 13 Apr 2012 09:16 AM PDT

China’s official Xinhuanet news service is predicting that Iran will compromise with the 5 members of the UN Security Council plus Germany as they meet in Istanbul beginning on Friday. The Chinese news service points out that Iran is suffering 25% to 35% inflation at the moment. Moreover, the Iranian currency has fallen dramatically against the dollar, and 25 of Iran’s banks have been kicked off the SWIFT exchange under European Union pressure (the EU in turn acted because it is afraid of US sanctions otherwise.) Xinhuanet does not…

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Natural Gas is Sticky

Posted: 12 Apr 2012 03:23 PM PDT

Richard Morningstar, the U.S. envoy for Eurasian energy, spoke before a Greek delegation on the importance of a diverse, but interconnected, global energy market. Morningstar’s interests lie predominately in European energy security, diplomatic-speak for easing the Russian grip on the regional energy sector. Energy, however, is not a zero-sum game, he said. That’s in part because somewhere between the lines, he was speaking of a grand strategy for interdependence guided by U.S. economic principles. Morningstar spoke before delegates in Greece,…

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If Chevron’s Romania Fracking Deal is so Good, Why the Secrecy?

Posted: 12 Apr 2012 03:18 PM PDT

Hydraulic fracturing of subterranean natural gas deposits seems a godsend to energy starved countries, particularly those in Central and Eastern Europe, which have seen their energy independence nobbled by their reliance on continuing imports from the Russian Federation. Quite aside from the national security issues, Russian imports, provided by the Russian Federation’s natural gas monopoly Gazprom, are increasingly expensive, as the company regularly pegs its prices to the global market. Accordingly, any and all alternatives are considered,…

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What the EIA’s World Oil Production Data for 2011 Tells Us About 2012

Posted: 12 Apr 2012 03:15 PM PDT

The US Energy Information Administration (EIA) recently released full-year 2011 world oil production data. In this post, I would like show some graphs of recent data, and provide some views as to where this leads with respect to future production. World oil supply is not growing very much Figure 1. World crude oil and other “liquids” supply has dropped below the 1983-2005 trend line in recent years. Actual data is from EIA International Petroleum Monthly, through December 2011. The fitted line in Figure 1 suggests a “normal” growth…

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Chechnya Courts Azerbaijan after Fallout with Russian Oil Giant

Posted: 12 Apr 2012 02:58 PM PDT

As the license for Russia’s state-own oil giant Rosneft to explore war-torn Chechnya’s hydrocarbon reserves is set to expire, Azerbaijan is invited to consider the contract as Chechen leader Ramzan Kadyrov seeks to increase his bargaining position vis-à-vis Moscow. On 4 April, Chechen officials announced that Rosneft’s license had expired and an invitation for exploration had been extended to Azerbaijan’s state oil company, SOCAR. Baku is doing its best to downplay the issue, hoping to avoid the politics behind developments…

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U.S. Risks Involvement in Regional Central Asian Disputes

Posted: 12 Apr 2012 02:56 PM PDT

The Pentagon, clearly unsettled by its proposed 2014 drawdown of the U.S. military presence in Afghanistan, has cast its net wide to retain a presence in Central Asia’s post-Soviet states. Accordingly, its new potential best buddy is Tajikistan, but the U.S. Department of Defense’s new strategy risks inserting Washington into one of post-Soviet Central Asia’s most intractable problems, energy issues between Central Asia’s former USSR republics. A crystal ball would indicate that the end result will be bitterness and all…

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U.S. Clean Energy Investment Reached $48 Billion in 2011

Posted: 12 Apr 2012 02:51 PM PDT

According to a report from PEW Environment the United States attracted the most clean energy investment in the world in 2011. The US received $48 billion in venture capital, private equity and R&D money last year; mostly due to the investors trying to take advantage of the stimulus programs before they expired at the end of the year. The investment was 46 percent larger than in 2010, and helped the construction of 6.7 gigawatts of wind turbines and more than 1 gigawatt of solar installations.  China attracted the most in 2009 and 2010,…

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Investment in Smart Grid Technology to Reach $46 Billion by 2015

Posted: 12 Apr 2012 02:48 PM PDT

A smart grid is a digitally enabled electrical grid that gathers, distributes, and acts on information about the behaviour of all connected entities in order to improve the efficiency, reliability, economics, and sustainability of electricity services. On Monday the IDC Energy Insights released a report called ‘Worldwide Utility Smart Grid Spending Forecast, 2010-2015’, in which it analysed 14 different smart grid project types across North America, Europe, Asia-Pacific, and Latin America, in an attempt to deduce where investment priorities…

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