I haven’t ever seen the GDP of a major economy fall as quickly as Japan’s did in the 4th quarter of 2008. It fell at an annual rate of 12.7% October-December and shows that the fall in energy prices, especially oil, during that period made a lot of sense. The economy and corresponding energy demand is falling faster than depletion rates at most oil fields and the question is: “Will demand continue to (more…)
Archive for February, 2009
Economic Plunge in Japan Bearish for Global Energy
Monday, February 16th, 2009Solar Prices Poised to Fall Dramatically
Friday, February 13th, 2009
I’ve been blogging a lot these days on the slow change in overall solar module prices, which have fallen a few percent while oil and natural gas prices fell ~65%. Long-term contracts make up a larger share of the module flow, so that the rise of supply above stagnant demand will take several months to translate into a big drop in solar’s price. But apparently that big drop is still on the way… (more…)
10,000 Students to DC: Clean Energy Now!
Thursday, February 12th, 2009
The youth of America understand the threat of global warming as well as anyone. That’s why they are coming to DC at the end of this month to send a message to their elected leaders and campus administrators. It is time to shift from our current dependence on dirty fossil fuels for to an efficient reliance on clean, renewable energy. (more…)
Gas prices poised to rise to $2
Wednesday, February 11th, 2009
For the last couple of months, average national gasoline prices stopped their skid at ~$1.61 per gallon. But since early January, prices have been climbing back up. In the next few days, prices may hit $2 per gallon thanks to (more…)
EIA predicts much lower carbon emissions
Tuesday, February 10th, 2009
The continued economic struggles in 2009 are hitting carbon-intensive activity especially hard. So says the US Energy Information Agency (EIA) in its updated Short Term Energy Outlook released this afternoon. Global oil demand is now expected to fall by 1.2 million barrels per day (1.4%) and global GDP is expected to grow only (more…)
Princeton installing 2nd biggest campus solar array in East
Monday, February 9th, 2009
I’m proud to share the news that my graduate alma mater is completing a 370-kW solar installation on one of its rooftops. I remember hearing early word about the project just a year and a half ago, and now it is already becoming a reality. While this system is much smaller than many installations popping up all over California colleges and universities, it is the second biggest in the East, after (more…)
Solar power prices continue slide
Friday, February 6th, 2009The monthly review released today by solarbuzz.com shows solar prices have fallen a bit further over the last month. Prices fell more slowly than last month due to price stability in Europe, but made a step in the right direction. While this price remains significantly above that of coal, oil, and natural gas – it positions solar closer to achieving grid parity in the mid-2010s. (more…)
US Oil & Gas Inventories Stay Above Average
Thursday, February 5th, 2009
As I predicted a couple weeks back, the cold weather cut into our surplus of natural gas and heating petroleum products. But it wasn’t enough to bring them down to average levels. Yesterday’s EIA weekly petroleum report showed crude oil supplies climbing to astronomical heights at (more…)
Record Global Wind Growth: Becomes Race Between US & China
Tuesday, February 3rd, 2009
Wind power did not just have outstanding growth in the US last year. This renewable energy success story was a worldwide phenomenon. Global wind capacity grew a record (more…)
January US Auto Sales Lowest Since 1982
Tuesday, February 3rd, 2009
January auto sales reports are coming out today, and the numbers are even worse than the low predictions. Chrysler and GM sales fell a whopping 55% and 49%, while Ford fell 40%, Toyota 32%, and Honda 28%. These sales levels are lower than (more…)