Foreign Policy Blogs

Energy

Offshore drilling: Democrats revising a Bush era decision to allow more

Offshore drilling: Democrats revising a Bush era decision to allow more

The Democratic-led Senate Energy and Natural Resource Committee supported legislation today that would allow for oil and gas exploration off the coast of Florida. In an ironic twist, this includes an area that Republican President George W. Bush took off limits in 2002. Far more Congressional action is needed before the legislation is past, but […]

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Prediction of a steady price rise for carbon allowances in EU's cap and trade system, but is it accurate?

The consulting and market research company Point Carbon predicts that “Phase 3 of the European Union’s Emissions Trading Scheme [from 2013] (EU ETS) could see the price of an EU Allowance rise from €30/ton in 2013 to €40/t in 2016.” ETS allowances fell to nearly €8/t this year and have recovered slightly since. Firms sold […]

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Goldman sanguine on high oil prices; Industry execs, not so much

Oil prices rose yesterday as Goldman Sachs stated it expects prices to reach $85 by the end of the year from its current level just below $70. Its analysts believe the recent price increase is the first stage of a longer sustained rally. They are right to see oil price rise over the long-term as […]

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Oil prices rise but is there fundamental support?

Oil prices rise but is there fundamental support?

Oil has finished higher during 16 of the last 20 trading sessions and seven straight as it continues to rise from lows in February. Although it looks set to close lower today as traders cash in on recent gains, the price has increased over 110% over the past four months. But the fundamental drivers over […]

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Biden on tour boasts about green job creation, but is all green all good

Biden on tour boasts about green job creation, but is all green all good

Vice President Joe Biden is on a victory tour, swinging through the country exulting the $787 billion stimulus package as a green job creator. In Denver, he boasted about the $11 billion for improving the electricity grid as well as the estimated 450,000 new jobs the bill will create. Despite the difficulty in defining a […]

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Increased violence in Nigeria highlights supply concerns but has little immediate impact on oil prices

Increased violence in Nigeria highlights supply concerns but has little immediate impact on oil prices

Nigerian militants from the Movement for the Emancipation of the Niger Delta (MEND) claimed to attack several pipelines of oil companies including Chevron yesterday, shitting in 100,000 barrels of crude a day. The attacks come in response as Nigerian forces over the past two weeks began a major operation against the rebel group. MEND claims […]

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Is California changing its tune on offshore drilling?

In a move that went widely unreported last week, California Governor Arnold Schwarzenegger unveiled a plan that would allow additional drilling within state waters in an attempt to help ease California’s fiscal troubles. California had banned new exploration activity within state waters (an area that roughly extends nine miles from the coast) since the 1969 […]

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IEA agrees: OPEC's discipline is fraying

The International Energy Agency is now wondering what we had discussed earlier in the week: OPEC’s discipline is fraying. The Agency believes that OPEC members are beginning to cheat because oil prices have risen from $32 earlier this year in part due to OPEC’s coordinated cuts. However, when prices are $60 a barrel, discipline is […]

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Chinese Solar Company Plans U.S. Manufacturing Plant

Chinese Solar Company Plans U.S. Manufacturing Plant

China-based solar producer Suntech Power announced plans this week to build a manufacturing facility in the United States to serve the growing U.S. market for large-scale utility projects and to take advantage of government incentives. “We believe in the outstanding long-term prospects of the solar energy market in the United States” Suntech Chairman and CEO […]

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As Prices Rise Some Frays on OPEC Edges

OPEC reported a rise in output despite a pledge from the organization’s member to reduce production to meet quotas agreed to in December. Five members (Saudi Arabia, Kuwait, Iran, Nigeria and Angola) increased production over the past month by a total of 180,000 bbls/day, although Saudi Arabia remains within its quota of roughly 8 mln […]

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Promises and Pitfalls

Forging a new partnership between the United States and China can help address climate change, but only if regulatory and market shortcomings can be overcome. A new alignment on energy and the environment between China and the United States sounds like a formula capable of delivering real solutions on climate-change issues. China’s abundant scientific research-and-development […]

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China Floats Carbon Tax Plan as a Means to Curb Emissions

The Chinese government is considering imposing a pro rata carbon tax on coal and fossil fuels such as gasoline, jet fuel, and natural gas, Finance Ministry official Su Ming has told the country’s state-run media. For the past year, 20 experts from seven different government agencies have been investigating the development and implementation of a […]

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A CEO wants a tax for the use of his product?

A CEO wants a tax for the use of his product?

Chevron CEO David O’Reilly spoke out last week against the Administration’s plan to use a cap and trade system to limit carbon emissions. His stance against US policy is nothing new. from a policy standpoint, America has been moving in the wrong direction for a very long time. He further outlines his list of grudges […]

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T. Boone Pickens is half right on energy security

On Friday, T Boone Pickens entitled an article “Swimming in Natural Gas” playing off a similar quote from the Wall Street Journal. (It is also sounds similar to, er, my coulumn I wrote last month that the world is swimming in oil as stocks had increased driving down the price of oil.) In his piece, […]

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Bloomberg's Ambitious Plan to Improve Energy Efficiency in NY Buildings

Bloomberg's Ambitious Plan to Improve Energy Efficiency in NY Buildings

New York Mayor Bloomberg harnessed the green power of Earth Day to unveil a plan that would require NYC buildings – responsible for 80% of the city’s emissions – to undergo regular energy audits and retrofits, as needed, in order to become more energy efficient. The announcement was made just a couple weeks after Bloomberg […]

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