I’ve been sharing the slow reduction of US oil output as oil drilling counts fall during the last few months. Now production has finally fallen below last year’s level. While petroleum fuel inventories remain very high, lower output should tighten them in the months ahead. Even so, I expect oil output to be higher than 2008 on average due to the (more…)
Posts Tagged ‘US’
Weekly US oil output falls below last year’s level
Monday, August 3rd, 2009EIA Report: US emissions to tank ~3.5% in ‘09
Wednesday, June 10th, 2009
The US Energy Information Agency (EIA) has further lowered its emissions projection for 2009 this month, as I said in May was likely. Lower coal consumption drives the reduction, based on the drop in industrial demand for fuel and the substitution by natural gas for coal for (more…)
Solar price slide accelerates in June, new record low in Europe
Tuesday, June 9th, 2009
Our friends at Solarbuzz.com released their June report today, showing that solar prices have fallen another significant amount in the last month. The progress will need to continue for several more months for solar to get competitive with fossil fuel energy without large governmental support. Industrial PV solar prices fell 1.1% to (more…)
Much of US to enjoy solar grid parity by 2012
Monday, May 11th, 2009
The economics of solar power are changing rapidly. And if the Prometheus Institute for Sustainable Development (PI) is right that solar module prices will fall more than 50% by 2012, grid parity will be achieved across many parts of the US. Solar electricity currently carries a price tag that is higher than (more…)
Oil & Gas Prices Back on the Rise
Thursday, May 7th, 2009
The 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…)
NY moves to become offshore wind power leader
Tuesday, May 5th, 2009
Denmark offshore, photo by Jim Hodson of Greenpeace
SET’s home state of New York is moving to become a leader in offshore wind power. Both the New York Power Authority (NYPA) and the Long Island Power Authority (LIPA) have offshore wind farms they are pursuing. The NYPA project would be the first major freshwater wind farm in (more…)
Price of solar continues to fall in May, record low reached in Europe
Monday, May 4th, 2009Solarbuzz.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…)
Biggest Wind Utility Grows Profit Amid Downturn
Tuesday, April 28th, 2009
While many companies are reporting lower profits here in 2009, Florida Power & Light shared a profit increase of 46% above the first quarter of 2008. And it was no coincidence that it is the nation’s largest wind power producer. The company made $364 million and (more…)