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The year 2015 is turning out to be a tough act to follow for new investments in clean energy in the U.S. and around the world. A report by Bloomberg New Energy Finance reveals that financing for solar, wind and other alternatives to fossil fuels in 2016 is down substantially from last year, when a record $348.5 billion was dedicated to projects. (Read More)
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A $1.5 billion deal between Southern Company and Kinder Morgan this week is one more sign of the growing importance of natural gas to electric power generation in the U.S. Atlanta-based Southern Company, the second-largest utility company in the U.S. in terms of customer base, agreed to pay cash to Kinder Morgan for a 50% equity interest in the Southern Natural Gas (SNG) pipeline system. (Read More)
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With gasoline prices so low, it’s no surprise that U.S. motorists are driving a lot more this summer. In all, more than 43 million Americans planned to travel by one means or another over the Independence Day weekend, the highest volume ever for the holiday, the motor club AAA estimates. (Read more)
Continue readingThe U.S. wind energy industry is the fastest-growing new source of electricity in the country. But it’s not resting on its laurels, especially in an election year. Hence the launch of American Wind Action, a group that will promote the benefits of wind energy to the public as voters consider whom to elect for the White House, Congress, state legislatures and other offices where public policy is made. (Read more)
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Exports of U.S. liquefied natural gas stand to benefit substantially from the $5.4 billion expansion of the Panama Canal, which will lead to much shorter travel time and much lower costs for shipments from the Gulf Coast to big markets in Asia and South America. (Read More)
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With oil markets stuck in a slump for two years now, it’s easy to forget how much a sudden loss of supply can impact prices. But the U.S. Energy Information Administrationreminds us of that risk in a new report that puts “unplanned” oil supply disruptions throughout the world at a five-year high in May. (Read more)
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Oil prices have rallied lately, but not enough to convince U.S. oil producers that hard times may be over soon. That’s evident in shale regions like North Dakota that have driven a resurgence in U.S. oil and natural gas production over the last few years. Lynn Helms, the director of the North Dakota Department of Mineral Resources, told reporters the other day that producers won’t begin to ramp up activity until they see oil prices holding steady at more than $40 a barrel for 90 days or so. (Read more)
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Fresh government support and growing interest from the utility industry is building expectations that wind power will thrive in the U.S. in coming years. Among the latest such assessments is a new report from Fitch Ratings, which sees the industry steadily expanding its share of the nation’s electricity market. “We see this environment remaining very positive for wind power for the next three to four years,” said Maude Tremblay, director of corporate finance at Fitch, an author of the report. (Read more)
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The annual Offshore Technology Conference in Houston is one of the premier expositions of breakthroughs that enable oil and natural gas producers to reach deeper into the ocean faster, cheaper and safer. Unfortunately for the vendors displaying new implements at NRG Park this past week, the prolonged downturn in oil and gas prices makes it difficult for producers to expand their tool kits when they’re cutting investments and personnel. Bernard Looney, the chief executive for BP’ s global upstream operations, acknowledged as much in his presentation at the event. (Read more)
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With Venezuela on the brink of economic collapse and oil prices low, Caribbean and Central American countries have an opportunity to cut their reliance on Caracas for oil and switch to low-carbon alternatives. The turmoil in Venezuela is only worsening, with President Nicolás Maduro having just reduced his country’s workweek to two days in the midst of an energy crisis. It comes as officials from Caribbean and Central American nations prepare to attend an energy summit in Washington where expanding international cooperation and improving energy security in the region will top the agenda. Vice President Joe Biden will preside over the May 3-4 meeting. (Read more)
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