The oil and natural gas rig count fell further last week, falling to just 918 or ~55% below its 2008 peak. This lower drilling activity seems to guarantee lower production within a few weeks that may bring balance to the fuel market. Another development was the price of gasoline passing (more…)
Archive for the ‘Daily Recap’ Category
Oil rig count falls, gas price passes $2.30
Saturday, May 16th, 2009New report shows global emissions likely to fall
Thursday, May 14th, 2009
The Paris-based International Energy Agency (IEA) reported today that they expect global oil demand to fall 2.6 million barrels per day (Mbd) in 2009, .24 Mbd lower than their April forecast. As I wrote last month, falling oil consumption can lead to lower overall global greenhouse gas emissions. And IEA’s prediction of even lower oil demand leads me to believe a 2009 emissions drop is now (more…)
Gas price passing diesel
Wednesday, May 13th, 2009
As I wrote two months back would happen, the price of gasoline is catching up with diesel after a couple years of separation. A year ago, diesel would cost you 60 cents more than gasoline. But looking at the trends in pump prices over the last few days, parity should be reached by (more…)
May report: US emissions expected to fall further
Tuesday, May 12th, 2009
The US Energy Information Administration (EIA) released its monthly Short Term Energy Outlook today. And their projection for 2009 US carbon dioxide emissions from energy fell even further than last month’s. The drop was led by (more…)
Giving thanks and support to greenways
Sunday, May 10th, 2009
Photo by David Tulloch
Yesterday was such a lovely experience – thanks to the Hudson River Greenway. People have worked hard over the decades to establish safe paths for pedestrians and other non-motorized transportation. And they succeeded in fostering for an amazing experience for bicyclists to enjoy the Hudson River and its cool breeze – not having to worry about dangerous vehicles that fill the streets of New York. I explored (more…)
Oil & Gas Prices Back on the Rise
Thursday, May 7th, 2009The prices of oil and natural gas appear to have bottomed now. But with inventories near record levels, a quick price spike much higher doesn’t seem sustainable in the short-term. Yesterday, the US Energy Information Administration (EIA) weekly petroleum report clearly showed that recessionary low demand continues to dominate (more…)
Wind conference gets record attendance, calls for federal Renewable Electricity Standard
Wednesday, May 6th, 2009
The American Wind Energy Association (AWEA) is in Chicago this week, hosting its largest conference ever. Over 20,000 people are filling the McCormick Place Convention Center, representing a 60% growth from last year’s attendance. And they are sending a clear message too: we need to ensure continued US wind power leadership by passing a (more…)
Price of solar continues to fall in May, record low reached in Europe
Monday, May 4th, 2009
Solarbuzz.com reported this morning that prices for solar modules fell another few pennies per watt. As supply has fully caught up with demand in 2009, prices are skidding down. But since fossil fuel prices remain substantially lower due to the global recession, the price of solar remains relatively high and will take many more months of decreases before grid parity becomes (more…)
US oil output finally following rig count down
Friday, May 1st, 2009
For months I’ve been talking about the potential of falling prices and rig counts to lower production. Well, in last week’s Energy Information Administration weekly petroleum report we finally saw a significant drop in crude oil output of (more…)
First Solar profit jumps as costs fall
Thursday, April 30th, 2009Earlier this week, I shared the news of profits and growth in the wind industry. And yesterday, a key solar company reported outstanding profits as well. First Solar reduced its manufacturing cost per watt more than (more…)