The US Energy Information Agency recently released data that our country’s implied oil demand was at its lowest point since 1996 this past September. The total was 2.6 million barrels per day (Mbd) below last year’s level, a drop of more than 10%! While some of September’s reduction is clearly attributable to Hurricanes Gustav and Ike, they also signify an intense (more…)
Archive for December, 2008
EIA: September Oil Demand Lowest in 12 Years
Friday, December 12th, 2008A Climate Partner to the South: Mexico Takes a Stand
Thursday, December 11th, 2008
Mexico’s Environmental Secretary Juan Rafael Elvira became an environmental hero today. He announced Mexico’s commitment to cut greenhouse gas emissions in half by 2050 through a sustainable energy transition to include massive integration of solar, wind and other clean technologies. This crucial development shows policymakers in the US that we have a strong partner for climate change mitigation to the South. (more…)
Gas prices search for a bottom
Wednesday, December 10th, 2008
After falling another penny and a half today to $1.683 per gallon (the record 84th straight day of falling prices), some analysts believe gasoline may be approaching a bottom. They cite the latest weekly survey by Mastercard that suggests gas demand over the past week reached the same level as this week last year for the first time in several months. If they are right, ~$1.60-$1.65 may be as low as gas prices are headed.
But today’s EIA oil inventory report tells a different story. (more…)
EIA predicts first global oil demand drop in a quarter century
Tuesday, December 9th, 2008
The Short Term Energy Outlook released today by the US Energy Information Agency (EIA) is yet another dramatic energy document for 2008. Not only do they project further stagnation for coal and natural gas demand in 2008, but they deepen this year’s expected fall in oil consumption from 5.4% to 5.8% below 2007 levels. In a big turnaround from previous reports, the EIA projects global oil demand will actually (more…)
Princeton Alumni Climate Effort Hits Endorsement Milestone Early
Tuesday, December 9th, 2008
Sustainable Energy Transition (SET) is happy to announce we passed our end of year goal of 100 endorsers from 30 Classes ahead of schedule! With 22 days to go, alumni of all ages are encouraging their alma mater to become a leader in climate change practice to match Princeton’s leadership in climate scholarship. SET is excited to have reached this milestone early, and hopes to (more…)
Obama & Co: Make 2009 Year of Efficiency
Sunday, December 7th, 2008
To face the long-term problem of global warming we need to be rooted in short-term reality. And the reality of the year ahead is a global recession that will make life harder for almost everyone. So, 2009 is an opportunity to utilize the tool that both cuts costs and lowers greenhouse gas emissions – energy efficiency.
I’m as big a fan of solar and wind power as anyone, but (more…)
China power generation falls record amount, keeping climate hope alive
Friday, December 5th, 2008
Globalcoal.com reported today that Chinese power generation fell 7% in November from last year! Huge cuts in energy-intensive manufacturing (of aluminum, steel, etc.) and warmer than usual weather resulted in this record contraction in electricity production. The reduction in thermal plant output (mostly coal) fell an even more dramatic 14% from 2007. Thus greenhouse gas emissions in the 4th quarter of 2008 will probably be significantly below the year-ago level. This development brings hope that China, the world’s largest carbon dioxide emitter, may be able to (more…)
Solar Price Falling Slowly, Natural Gas Continues Slide
Thursday, December 4th, 2008
Over at solarbuzz.com, they post module prices on a monthly basis. And while the prices of fossil fuels have fallen dramatically over the past few months, the tough economy has yet to dramatically lower solar prices. For December, US prices from last month are unchanged and prices in Europe fell less than 1%. When will prices fall significantly due to supply catching up with demand?
Solar prices have fallen dramatically over the past few decades, but they have actually increased since late 2004. US prices currently sit almost (more…)
Low oil demand keeps US inventories strong
Wednesday, December 3rd, 2008
Today’s weekly EIA oil report shows that lower demand keeps our inventories at levels we can live with. While key products inventories gasoline, distillates and propane are all below their five-year average range, their demand is estimated to be down 3.6%, 8.5%, and 14.5% below last year’s levels, respectively. Gasoline and diesel pump prices fell at a slower rate this past week to $1.80 and $2.74 today, but they appear to have at least a few more pennies to go before (more…)
Airlines Cut More 2009 Flights, Climate Emissions to Fall
Tuesday, December 2nd, 2008
Delta just announced they plan to cut their flights 6-8% in 2009. Other airlines appear poised for similar announcements as the deepening recession cuts passenger demand. Therefore, 2009 could be another year of sharp greenhouse gas emission reductions similar to the (more…)