LONDON, Aug 20 (Reuters) – BP’s increasingly bad-tempered
spat with the U.S. federal court, claims administrators and
legal community in New Orleans over oil-spill compensation
payments suggests the company has given up trying to win the
Instead, BP seems to be focused on getting it before
a regional or national tribunal as quickly as possible in the
hope of a more sympathetic hearing.
LONDON, Aug 19 (Reuters) – Britain’s homes are in the midst
of an energy-efficiency revolution, though that may come as a
surprise and not much comfort to their occupants, who are still
struggling with the highest heating and power bills for over two
Between 2005 and 2011, average household power and gas
consumption in England and Wales fell by a quarter from 26.2
megawatt hours (MWh) per year to 19.7 MWh, according to the
Office for National Statistics (ONS).
LONDON, Aug 15 (Reuters) – Fracking set off a modern day
land rush across the United States, as “land men” acting on
behalf of exploration and production companies scrambled to
secure rights to drill and fracture underground formations for
oil and gas.
Landowners received hundreds or even thousands of dollars
per acre in exchange for allowing wells to be drilled and
pressure pumped, and hundreds of thousands or even millions of
dollars more if the wells struck petroleum and were put into
LONDON, Aug 14 (Reuters) – Electrification was the single
greatest engineering achievement of the 20th century, according
to the U.S. National Academy of Engineering.
But buying electricity is not like buying a can of baked
beans. Irrespective of how much power households and businesses
use on any given day or month, they have come to expect that
nearly unlimited supply will always be available at any time at
the flick of a switch.
LONDON, Aug 13 (Reuters) – The village of Balcombe in West
Sussex has become the focal point for protests against hydraulic
fracturing in Britain. But Balcombe is also a fascinating
microcosm of the contradictions besetting Britain’s policies on
energy and economic development.
Like households across the rest of the country, Balcombe’s
residents use rather a lot of fossil fuels.
LONDON, Aug 12 (Reuters) – Exactly ten years ago, at 15:05
Eastern Time on August 14, 2003, an overhead power line came
into contact with an overgrown tree near Cleveland, Ohio.
What happened next is a frightening case study of how
vulnerable modern economies are to even a small disruption in
vital and highly interconnected systems.
LONDON, Aug 9 (Reuters) – The balance of power between host
countries and petroleum companies has shifted decisively as a
result of the shale revolution and the push into deepwater oil
and gas fields off the coast of Latin America and Africa.
The first decade of the 21st century was dominated by talk
about increasing “resource nationalism” as governments demanded
a greater share of the revenues from natural resources located
on their territory.
LONDON, Aug 8 (Reuters) – “See no evil, hear no evil, speak
no evil” might well have been the motto for Britain’s commodity
market regulators in recent years.
In too many instances, light-touch self-regulation by the
exchanges, overseen by the Financial Services Authority (FSA),
now reincarnated as the Financial Conduct Authority (FCA), has
degenerated into ineffective or no regulation.
LONDON, Aug 6 (Reuters) – Shale sceptics have seized on big
writedowns in the value of shale gas and oil properties in North
America to question whether the fracking revolution could be
running into trouble.
On Aug. 1, Shell became the latest in a long line
of oil and gas companies to reveal a multi-billion-dollar
writedown in acreage value.
LONDON, Aug 1 (Reuters) – Centrica, which supplies
electricity in the United Kingdom through its British Gas
subsidiary, has said it could offer free power to residential
consumers on Saturdays from next year, provided they have a
smart meter installed.
“Free power Saturdays” are a masterful piece of marketing
and illustrate how quickly smart metering will transform the way
residential customers use and pay for electricity in Britain and
around the world.