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Energy Agency Sees More Oil Declines, Potential for Conflict

         

FILE - In this Tuesday, Oct. 14, 2014, file photo, oil pumps work at sunset in the desert oil fields of Sakhir, Bahrain. Oil prices have further to drop with no signs of slowing production in the U.S., according to the International Energy Agency, Friday, March 13, 2015. (AP Photo/Hasan Jamali, File) - Associated Press

ABC News - AP - March 13, 2015

Oil prices have further to drop with few signs of slowing production in the U.S., according to a global energy agency.

The International Energy Agency, a watchdog group based in Paris that represents the world's main oil-importing nations, said in its monthly report Friday that the recent stabilization in oil prices is "precarious."

"Behind the facade of stability, the rebalancing triggered by the price collapse has yet to run its course," it said.

That may be playing out right now. Oil prices tumbled 10 percent this week, including a 5 percent drop Friday.

The IEA cautioned that risks of oil supply disruptions are growing. Low prices could raise the risk of social disruption in some countries dependent on oil, the agency said, and the ongoing conflict in Iraq and Libya hasn't slowed down.

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Heat pumps extract warmth from ice cold water

Drammen's ice cold fjord is not an obvious source of heat for the city's inhabitants and businesses

Image: Drammen's ice cold fjord is not an obvious source of heat for the city's inhabitants and businesses

bbc.com - March 9th 2015 - Richard Anderson

The residents of Drammen have rather an unusual way of keeping warm.

The county capital, 40 miles west of Oslo in Norway, extracts most of the heat needed to insulate its houses, offices and factories against the biting Nordic cold from the local fjord, or more precisely from the water held within it.

Averaging 8C throughout the year - it's literally cold enough to take your breath away.

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Wind Power Beats Nuclear Again in China

A chart demonstrating the rise in wind vs. nuclear energy in China from 1995-2014.

Image: A chart demonstrating the rise in wind vs. nuclear energy in China from 1995-2014.

earth-policy.org - March 5th 2015 - J. Matthew Roney

China, the country that is building more nuclear reactors than any other, continued to get more electricity from the wind than from nuclear power plants in 2014. This came despite below-average wind speeds for the year. The electricity generated by China’s wind farms in 2014—16 percent more than the year before—could power more than 110 million Chinese homes.

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Europe Unlikely to Meet Climate Goal, Study Finds

CLICK HERE - SOER 2015
— The European environment — state and outlook 2015

CLICK HERE - Synthesis Report
The European environment — state and outlook 2015

CLICK HERE - Assessment of Global Megatrends
The European environment — state and outlook 2015

nytimes.com - by Melissa Eddy - March 2, 2015

BERLIN — The European Union will fail to meet an ambitious goal of significantly reducing greenhouse gas emissions by 2050 unless it takes more aggressive measures to limit the use of fossil fuels and adopts new environmental policies, according to a report released on Tuesday.

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Street Protests Loom as Shortages, Inflation and Oil Slump Hit Venezuela

       

Students block a street as they clash with national guards during a protest against the government in San Cristóbal on Wednesday. Photograph: Reuters

As President Nicolás Maduro tours the world in search of financing, the most conciliatory opposition leader says the time has come to mobilise on the streets

theguardian.com - by Sibylla Brodzinski - January 16, 2015

Even Venezuela’s most conciliatory opposition leader has had enough.

Amid sky-high inflation, an absent president, snaking queues outside supermarkets, and plummeting oil prices, Henrique Capriles said this week that the time was ripe to try to force a change.

“We are in a state of emergency,” he said on Monday. “This is the time to mobilise in the streets.”

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At Least One Major Oil Company Will Turn Its Back on Fossil Fuels, Says Scientist

Jeremy Leggett: 'One of the oil companies will break ranks and this time it is going to stick.'
Photograph: Linda Nylind for the Guardian

submitted by Margery Schab

Jeremy Leggett, former industry adviser, warns over plunging commodity prices and soaring costs of risky energy projects

The oil price crash coupled with growing concerns about global warming will encourage at least one of the major oil companies to turn its back on fossil fuels in the near future, predicts an award-winning scientist and former industry adviser.

Dr Jeremy Leggett, who has had consultations on climate change with senior oil company executives over 25 years, says it will not be a rerun of the BP story when the company launched its “beyond petroleum” strategy and then did a U-turn.

“One of the oil companies will break ranks and this time it is going to stick,” he said.

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White House Moves to Rein In Methane Emissions

       

New EPA standards will aim to significantly cut methane emissions from oil and gas sites in the U.S.

The Obama administration makes its latest move to take on climate change.

usnews.com - by Alan Neuhauser - January 14, 2015

In the Obama administration’s latest use of executive authority to address climate change, the White House announced plans Wednesday to impose new regulations on the oil and gas industry that would nearly halve methane emissions from wells, drill sites and pipelines in 10 years.

The new standards, to be developed by the Environmental Protection Agency under the Clean Air Act, would aim by 2025 to cut methane emissions by up to 45 percent from levels recorded in 2012. They would also slash the spread of volatile organic compounds, or VOCs, key components of ground-level smog that have been linked to cancer, neurological conditions and other illnesses.

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Finally, Germany Makes Progress on Coal

forbes.com - November 3rd, 2014 - Richard Martin

For critics who scoff that Europe’s carbon emission reduction goals are unachievable, Germany has become Exhibit No. 1. Since Chancellor Angela Merkel decreed in the wake of the Fukushima Daiichi nuclear accident that Germany would phase out its nuclear power industry, coal use in Germany has been on the rise, and the country’s carbon emissions have remained stubbornly high.

Now it appears that tide may be turning.

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Free Fall in Oil Price Underscores Shift Away From OPEC

A hydraulic fracturing well in Colorado. With the technology, America is expected to surpass Saudi Arabia in oil production. Credit Brennan Linsley/Associated Press

Image:  A hydraulic fracturing well in Colorado. With the technology, America is expected to surpass Saudi Arabia in oil production. Credit Brennan Linsley/Associated Press

nytimes.com - November 28th, 2014 - Clifford Krauss

Since the economically crippling oil embargo of 1973, every American president has pledged to seek and achieve energy independence.

That elusive goal may finally have arrived, at least for the foreseeable future, with the failure of Saudi Arabia and its 11 oil cartel partners in the Organization of the Petroleum Exporting Countries to agree to a production cut that would put a brake on plummeting crude prices.

On Friday, the benchmark American price for crude oil continued the free fall that began on Thursday, closing at $66.15, its lowest price in more than four years.

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Electricity from Renewables Cost Competitive with Coal

energymanagertoday.com - by Linda Hardesty
November 26, 2014

Although a recent story from Spectrum IEEE said Google researchers gave up on a project to produce electricity from renewables more cheaply than electricity from coal, a story in the New York Times says some renewable electricity is already cost competitive with coal.

The story cites a study by the investment banking firm Lazard, which finds the cost of utility-scale solar is as low as 5.6 cents per kWh, and wind is as low as 1.4 cents, while natural gas comes in at 6.1 cents and coal at 6.6 cents.

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CLICK HERE - STUDY - Lazard's Levelized Cost of Energy Analysis - Version 8.0 (20 page .PDF file)

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