Category Archives: Energy markets

Carbon Pricing: The Price Is Wrong

For U.S. climate activists to succeed, they must demand serious government spending on energy efficiency and renewables—spending comparable to the current war budget. Calling for hundreds of billions in annual green public investment has potential for the popular appeal needed to build a powerful grassroots climate movement. That investment would be the best policy as well. Massive clean energy spending would not only provide jobs and economic growth on a grand scale. It is the most effective way to reduce greenhouse gas pollution.

Gaius Publius: Climate Crisis: Why We’re on Track for 7°C Warming or Greater by 2100

If we don’t “stop now” — meaning, hit the carbon brake hard and stop the carbon car — we risk going over a cliff whose edge could be as near as five to ten years away.

Michael Klare: DoE Forecasts No Meaningful Change in Fossil Fuel Use by 2040

Yves here. While this post focuses on a newly-released Department of Energy forecast, and forecasting is always a fraught exercise, there’s good reason to see it as realistic. It reflects the power of inertia and entrenched interests. If anything, you’d expect the DoE to present a hopeful outlook on the growth of eco-friendly power sources, given how often Obama talks about “green energy” and “green jobs,” but the authors appear to have steered clear of undue optimism.

Has the Shale Bubble Already Burst?

Just like the famous Gold Rushes of the 19th century, US shale gas development is turning out to be a limited and regional market opportunity. Across the Atlantic, the high financial and human costs to fracking also mean that Europe should forget any fantasies about repeating the US shale boom.

Many US shale companies that have been beating the drums of shale “revolution” are now facing oil and gas well depletion. In February 2013 the US Energy Information Administration (EIA) warned that “diminishing returns to scale and the depletion of high productivity sweet spots are expected to eventually slow the rate of growth in tight oil production”. It was a cautious but intriguing statement.

The US Wastes Enough Energy Each Year to Power the UK for Seven Years

Yves here. Let me underscore that the source for this article is not a granola-head organization but the Lawrence Livermore National Laboratory, which is one of the US national labs, or more formally, the United States Department of Energy national laboratories and technology centers.

Ilargi: The Darker Shades Of Shale

By Raúl Ilargi Meijer, editor-in-chief of The Automatic Earth, Cross posted from Automatic Earth

No, I wasn’t going to write a third article on shale in 2 weeks, absolutely not. But what I’ve read these past few days doesn’t leave me much choice.

Ilargi: London Is Fracking, And I Live By The River

By Raúl Ilargi Meijer, editor-in-chief of The Automatic Earth, Cross posted from Automatic Earth

It’s a state of mind, a way of thinking and a belief system bordering on outright religion all in one. If it would be recognized as a religion, it would be the world’s biggest. Its followers and proponents hold that growth is a necessary element of survival, that technology is capable of solving all problems (especially those caused by mankind), and that the earth, nature, the living environment, is there for mankind to be exploited at will to achieve that growth

U.S. Energy Independence Doesn’t Mean a Thing

Yves here. The headline above, which is a carryover from OilPrice, is deliberately provocative. Of course US energy independence means something. After all, it’s one of the big rationales given for ~~destroying America’s supply of potable water~~ fracking. But the argument in this piece is geopolitical, that US energy independence is less important than typical, as in parochial, Americans believe.

Michael Klare: The Third Carbon Age – Drop the Fantasy of a Coming Era of Renewable Energy

Yves here. To put none too fine a point on it, the most important steps to reduce carbon emissions would be a Marshall plan level effort to reconfigure living and resourcing arrangements so as to reduce energy demands, and to go particularly aggressively after the worst polluters (for instance, the cars you see spewing fumes, are surprisingly large contributors to total emissions from automobiles). But it’s much easier to go the Easter Island route and keep carrying on more or less as before until you hit insurmountable constraints.

Obama’s Own Party Wages War on Energy Plans

Yves here. Since I watch energy and environment stories only from time to time, I’m not certain of the significance of pushback by some in the Democratic party against Obama’s deliberately mislabeled “clean energy” plans, which translate roughly as “all fracking all the time”. Is it that Obama is moving a tad early into lame duck status? Is it that Democratic party Congresscritters learned from 2010, in which the Blue Dog Democrats who were aligned with Obama took big losses, and the bona fide progressives did well?

Fukushima Problems Escalating, Radioactive Water Going into Pacific

The Fukushima nuclear plant crisis continues unresolved in a bad way.

Iran Gets Creative Over Energy Payments from Turkey and Pakistan

Yves here. Although this post is nominally about how Iran is currently working around America’s and the EU’s sanctions, it points out that for the US to tighten the noose further would likely undermine some of America’s other geopolitical aims.

Is an Oil Shock Brewing?

The oil price jumped to an eighteen month high last night. Can we expect this trend to continue?

Heartburn in Washington: India Calls Iran “Critical” to their Energy Future

It is no secret that the South and East Asian economies have chafed under the multi-layered sanctions adopted by the United States, European Union and United Nations Security council against Iran for its civilian nuclear activities. India is now pushing back.

Gaius Publius: A Primer – What’s in a “Tar Sands” Pipeline?

In the wake of renewed interest in the Keystone Pipeline project and the likelihood that Obama will eagerly approve it unless we stop him, there’s a lot of interest in what actually flows through those pipes.