The International Energy Agency (IEA) released its full report today with more details available than from its executive summary that I blogged about last week. Even though it is a sobering report predicting that oil consumption in the developed world will fall as prices climb toward $200 per barrel by 2030, in many ways this report could be optimistic about oil supply.
First of all, it depends on Read the rest of this entry »
Today I read a new study by Australian scientists has found the Southern Ocean is acidifying faster than previously thought. Their research leads them to believe an acidification tipping point could be reached by 2030 ~450 ppm instead of the earlier estimate of 2060 ~550 ppm. We have had a deluge of similarly startling findings these past few years such as the acceleration of melting in the Arctic Ocean, Greenland, and western Antarctica. Read the rest of this entry »
After the election of Obama and a number of others with green credentials, the coal and oil industries are ramping up their PR efforts against federal policy to lower greenhouse gas emissions (GHGs). The old arguments of climate policy raising energy prices so much that the US loses its competitive advantage in manufacturing are being dusted off and repeated in an attempt to block progress. But let’s revisit US costs of mitigation by reviewing a solid report by Environmental Defense this past Spring. Read the rest of this entry »
The Paris-based International Energy Agency was formed during the oil crisis of the 1970s to help consumer countries best coordinate mitigation of politically-induced oil scarcity 30 years ago. They helped to spur demand reduction and supply stability that brought prices down to historical norms in the mid-1980s. But now they warn of a more serious and long-term development in the oil sector: the age of cheap oil is ending because Read the rest of this entry »
Earlier today, the IMF lowered its prediction of global economic growth to 2.2% in 2009, .8% below last month’s estimate and below the 3% marker they use to classify a recession. The major reduction has many banks predicting oil demand will fall next year for the first time in 26 years.
As a result, oil prices dipped toward Read the rest of this entry »
By Dennis Markatos-Soriano, Sustainable Energy Transition Founder
Tuesday, November 4th, brought a huge shift to the US political landscape. The Obama landslide opens up an opportunity to update our energy policy for 21st century leadership. After eight years of stagnant federal climate change engagement, the Obama Administration promises no less than Read the rest of this entry »
Standing in line at 5:40am this morning was exciting. My wife and I were #s 10 and 11 in a line that grew toward 100 before the polls even opened at 6am. This election is historic in so many ways, not least of which is the high turnout taking place throughout the country.
In celebration of the history unfolding, I thought a perfect followup to yesterday’s presidential climate goals blog is an offering of deployment goals for renewables industry leaders, wind and solar. Read the rest of this entry »
With the election on our doorstep, I think it makes sense to talk about the US future in terms of presidential terms again.
Climate change is one of the key issues of the 21st century and requires immediate presidential action. But what kind of immediate action? The current federal climate policy on the table (a cap and trade system poised to pass in 2009) targets reducing US emissions to 1990 levels by 2020. This blog describes interim goals for the first and second presidential terms (by Read the rest of this entry »
The EIA just released its monthly estimate of US oil consumption for August and the number is encouraging.
Our peak monthly demand was hit in August 2005 at almost 21.7 million barrels per day (Mbd). By this past August, demand had slid 11% to ~19.3 Mbd. The last time demand was this low was 1997, and it is only Read the rest of this entry »
A collection of UK companies including Arup, Virgin Group and Solarcentury just released a report they hope is a wake-up call for oil importing countries like the UK and the US.
Entitled “The Oil Crunch: Securing the UK’s Energy,” the report brought together insight from a range of sources that demands serious attention about the future of world oil supply after 2010. The first major voice (called Opinion A) is that of Read the rest of this entry »