Today was another volatile day in the energy markets. Oil initially rose as the dollar fell to a record low versus the euro of $1.6038, but then oil dropped back below $140 as more bad news about the US economy showed our demand may fall further. Brazilian production was reported to have returned toward normal levels, but Libya reported a 100,000 barrel per day reduction in its oil supply for almost a month due to maintenance needs. This amounts to twice as much as the anticipated Brazilian reduction, equaling around 2.5 million barrels off of the 3rd quarter supply. The weekly US oil stockpile report coming out tomorrow may have a big effect on the volatile prices.
A recent article in the Chronicle of Higher Education brought up the importance of oil-scarcity education in colleges and universities throughout the country. My favorite on-campus example of energy progress in an oil scarce world is by being a leader in reducing greenhouse gas emissions through the College Presidents Climate Commitment. They just released an inspiring annual report on progress toward climate neutrality at the 500+ institutions that have signed up in the first year of the program’s existence. Here’s to more campuses, like my graduate alma mater Princeton, joining this cutting edge club and becoming models for both global climate progress and energy security.
Tags: climate neutral campuses, Oil