The main energy news this week is the signing of a deal to build a gas export pipeline from Russia to China. The European baby rabbits remain caught in the headlights rabbiting on about wind, solar and CCS while their decades long reliable gas supplier turns and faces East. European Parliamentary elections held this week will hopefully send a strong message to the current crop of unelected incumbents. Russia is also stirring the mix in Iran with news of a deal to deliver nuclear reactors to that country.
European gas heads East: Russia’s gas king taunts crumbling Europe over China pipeline coup
Gazprom’s chairman has describing Europe’s energy shortage as “scary” and ridiculed the EU’s push for wind and solar power as a shambles
South Stream steams ahead: All Preparations for First Two Offshore Pipelines in Place
The progress of the Offshore Project is testimony to the good cooperation between our European and Russian Shareholders. Likewise, I believe South Stream can also serve to foster cooperation on a bigger scale, as the pipeline will create mutual benefits and provide secure energy supplies to Bulgaria and Europe as a whole.
Antarctica’s glaciers in action: CryoSat finds sharp increase in Antarcticas ice losses
Three years of observations from ESA’s CryoSat satellite show that the Antarctic ice sheet is now losing 159 billion tonnes of ice each year – twice as much as when it was last surveyed.
Climate change axed in Oz: Climate Change Research Axed in Australia
The fallout from the new government’s budget is still being seen in Australia, but it is already obvious that climate change is a loser when it comes to funding. Prime Minister Tony Abbott has long been skeptical of global warming and the science behind it, but with his new-found legislative power it seems as though he is looking at making that viewpoint into law.
Scottish blackout question: MSP questions role of ‘over-reliance’ on wind farms in Highlands power black-out
MSP Alex Johnstone (Conservative, North East Scotland) has this week tabled question for answer in the Scottish parliament on causes of last month’s power black-out which cut off electricity to 200,000 homes in the Highlands and Islands.
European gas heads East: Vladimir Putin faces giving ground in China to seal gas deal
Long-coveted prize would allow Russia to switch sales from Europe to the Far East and transform the Eurasian gas market
Although he has not recently described Scotland as “the Saudi Arabia of renewables”, First Minister Alex Salmond and other supporters of his wind energy policies are still claiming that it is possible for us to make money selling renewable energy to the rest of the world, as Saudi Arabia does with its oil.
Falsifying false data: GERMAN GOVT FALSIFIES CLIMATE REPORT TRANSLATION TO HIDE GREEN POLICY FAILURE
The German Ministry of Environment has falsified the conclusions of a UN climate change report in the German-language version released last week, in an attempt to hide the fact that the country’s ‘green policies’ are useless.
Will Holland opt for hydro?: Solar panels key to energy demands
Installing state-of-the-art solar panels on 250,000 roofs could meet one-sixth of Scotland’s electricity demands, according to researchers.
European gas heads East: ‘West forgot to lock back door, pushed Russia into gas deal with China’
While the West imposes sanctions on Russia, Russia is making a deal with China as each has something to offer the other, David Kuo, CEO of the Motley Fool Singapore financial website, told RT.
As Moscow and Beijing finalize a historic deal that may be worth some $456 billion in Russian gas over the next 30 years, Russia keeps looking both East and West, and is not forgetting about its European customers, PM Dmitry Medvedev told Bloomberg TV.
Lets burn more coal to limit climate change: UK carbon capture plants must get go-ahead within year, say MPs
The UK’s first carbon capture and storage (CCS) plants must be fast-tracked and get the go-ahead within a year, according to a report from MPs. It describes the technology, which traps the carbon dioxide from fossil fuel burning and buries it, as “vital to limit climate change”.
Rumours of fire denied: Angola LNG shut due to technical problems, restart time unknown
Angola’s new liquefied natural gas (LNG) plant has been forced to shut down production due to unspecified technical problems, a spokesman said on Friday, but he denied a report of an explosion at the plant.
Electric cars too cheap: Fiat Chrysler CEO: Please don’t buy Fiat 500e electric car
Fiat Chrysler Automobiles Chief Executive Sergio Marchionne has a request for potential buyers of the automaker’s Fiat 500e electric car: Don’t buy it. He’s tired of losing money.
Speaking at a conference in Washington on Wednesday, Marchionne said Tesla Motors Inc was the only company making money on electric cars and that was because of the higher price point for its Model S sedan.
Monterey in the dumps: U.S. officials cut estimate of recoverable Monterey Shale oil by 96%
Federal energy authorities have slashed by 96% the estimated amount of recoverable oil buried in California’s vast Monterey Shale deposits, deflating its potential as a national “black gold mine” of petroleum.
Climate meltdown in USA: U.S. Climate Report Predicts Growing Problems for Energy Sector
More frequent and intense weather events—from hurricanes to wildfires to sweltering summers—can be attributed to climate change and are affecting energy production and power delivery in the United States, according to a new government report.
Vattenfall leads way on CCS: Vattenfall Ditches Carbon Capture and Storage Research
Vattenfall, one of Europe’s largest energy producers, announced this week that it will discontinue its research and development activities in carbon capture and storage (CCS) for coal-fired power plants.
Gas prices tumble: UK gas prices slump to fresh lows
Prices on the UK’s wholesale gas market tumbled further over the week as warm spring weather dampened already weak demand, sending gas for prompt delivery to levels not seen since 2010.
My selection of stories posted by Luis de Sousa At The Edge of Time. Luis has a great selection of stories this week focussing on oil supply shortages, Libyan turmoil, blackouts and Russia flexing nuclear muscles in Iran,
IEA to call OPEC: Energy agency predicts oil shortage unless supply boosted
Industrialised countries could be facing the prospect of an oil supply squeeze and higher prices later this year unless production is lifted, according to a report just released by the International Energy Agency.
1 million bpd more required: IEA looks to OPEC to boost oil production as output growth elsewhere slows
The International Energy Agency believes OPEC will need to raise its production by nearly 1 million b/d in the third quarter to meet rising global demand and to make up for slowing supply growth from non-OPEC producers.
That would mean the group would be producing nearly 31 million b/d within a few months.
Can it be done?
A former general in Moammar Gadhafi’s army who defected to the United States nearly three decades ago has launched an unexpected offensive against Islamist militias in Libya _ a development that appears to have broken the stalemate that has left the militias in charge in much of the country.
US plans Libya evacuation: Fearing militia control of Libya’s airports, U.S. moves troops to Sicily in case evacuation needed
Alarmed by developments in Libya, the United States this week moved 200 troops to a base in Sicily so that they could respond more quickly if the U.S. needs to evacuate its embassy in Tripoli, two administration officials have told McClatchy.
Libyan oil still off line: Libya’s major western oilfields remain closed
Libya’s major western oilfields remain closed 10 days after the government said protesters blocking pipeline flows had agreed to leave, while total oil output edged higher, a spokesman for National Oil Corp said on Wednesday.
Only the small 30,000-barrels-per-day (bpd) Wafa field was producing normally in the west, NOC spokesman Mohammed El Harari said.
Blackouts in Egypt: Egypt Sets Clocks Forward Amid Crippling Energy Crisis
As of midnight, the Egyptian government reinstated daylight saving time “as a way to help reduce electricity consumption.” The practice was formally abolished three years ago, but the recent decision to bring it back has been met with confusion. And yet, with blackouts lasting over an hour now becoming a daily occurrence, Egypt’s energy crisis is impossible to ignore.
Blackouts in India: Punjab stares at blackouts over lack of coal supply
Punjab is heading for a major power crisis as 10 out of 14 units of its three major thermal power plants have been shut down following short supply of coal. Power generation in Bathinda’s Guru Nanak Dev thermal plant, Guru Hargobind thermal plant in Lehra Mohabbat and Guru Gobind Singh thermal plant in Roopnagar has almost come to a standstill as only four units of these plants are working.
Nukes to Iran: Russia May Sign Agreement to Build 8 Reactors in Iran
Moscow may sign an intergovernmental agreement with Teheran this year to build eight new reactors for nuclear power plants in Iran, a source close to the negotiations told journalists Thursday.
Two reactors could be built at the Bushehr Power Plant and six reactors at other sites, the source said, adding that the talks were in their final stage.
€3billion of wind power: Europe’s renewable energy market boosted by €3bn wind farm deal
A €3bn deal for what is expected to be one of the world’s biggest offshore wind farms has boosted Europe’s battered renewable energy market after more than a year of sagging investment.
The last week on Master Resource:
Climate propaganda heats up: Joe Romm: Climate ‘Disinformers’ Now Holocaust Deniers (inside the shouting phase of denial)
When faced with a powerful, threatening argument to a troubled paradigm, those in denial will first ignore. If this does not work, they will ridicule. And it this does not work, they will shout and even use hateful talk.
Essential tax planning: Tax Farming Seminar for Renewable Energy
The energy industry conference group EUCI is hosting a two-day event next month in San Diego, “In-Depth Tax Planning for Renewable Energy Projects.” The complex topic with specially designed software and technical experts is advertised as follows:
Maximizing the benefits of tax incentives is vital in any renewable energy transaction, and whether a project “pencils out” generally turns on the efficient use of these incentives. How soon investors can get their desired return and exit the project, and how much a project developer receives and when, depend greatly on how the tax incentives are handled.