LONDON (Reuters) – Time is the most important variable in commodity markets but also the most frequently overlooked.
Too often observers become trapped in an endless short term and fail to notice that the world is gradually changing around them.
LONDON (Reuters) – The decision to shutter “The Oil Drum”, the leading website devoted to peak oil, has come to symbolize the end of an era – and sparked a furious debate about whether the theory was all along based on a fundamental mistake.
The site’s authors and editors blamed the decision to archive it on the “scarcity of new content caused by a dwindling number of contributors,” according to a statement on July 3.
LONDON, July 18 (Reuters) – Most people in Britain want to
reduce reliance on fossil fuels, but due more to fears of
shortages and rising prices than to fears about climate change,
according to a poll developed by researchers at Cardiff
University and funded by the UK Energy Research Council.
Nearly 2,500 people were surveyed across England, Scotland
and Wales in August 2012. The results, published on Tuesday in a
report on “Transforming the UK energy system: public values,
attitudes and acceptability,” provide a trove of information
about public opinion on climate and energy policy.
LONDON, July 17 (Reuters) – Britain’s government is basing
its policy recommendations on outdated and unrealistically high
projections of future fossil fuel prices – which could be
causing it to over-estimate the cost of imports and threatening
to skew cost-benefit analyses of alternative policies.
The Department of Energy and Climate Change’s (DECC) central
projection for oil prices in 2020, at $123.50 per barrel, is
almost 17 percent higher than the baseline scenario employed by
the U.S. Energy Information Administration (EIA), which puts
them at $105.57. It is also 45 percent higher than futures
prices for Brent at the end of decade based on the current
forward price curve (link.reuters.com/nax69t).
LONDON, July 16 (Reuters) – Sooner or later OPEC members
will have to reduce output to reflect their reduced share of the
global oil market.
The organisation’s members must come to terms with
diminished demand for their crude as a result of booming shale
oil production in North America and strong production growth in
several other regions.
LONDON, July 16 (Reuters) – In a welcome attempt to help its
British customers understand why power and gas bills are rising
so rapidly and relentlessly, RWE’s npower subsidiary has
analysed the make-up of an average bill and found government
policy and transmission upgrades account for almost all cost
increases by 2020.
Policy and regulation will add an extra 144 pounds to the
average combined gas and electricity bill by 2020 while
investment in the transmission network is set to increase bills
by 114 pounds, according to “Energy Explained: The Changing Cost
of UK Energy” published by RWE npower on Tuesday.
LONDON, July 12 (Reuters) – The U.S. Department of Energy
wants to establish labelling programmes and minimum energy
efficiency standards for all computers and servers sold in the
In a pair of notices published in the Federal Register on
Friday, the department announced it has “tentatively determined”
that computers and servers should be treated as covered consumer
products under the Energy Policy and Conservation Act (EPCA).
LONDON, July 11 (Reuters) – Britain’s National Grid has
outlined plans to keep the lights on during the dark winter
evenings of 2014/15 and 2015/16 – when the margin of spare
generating capacity could fall as low as 4 percent and the risk
of some disconnections could be as high as 50 percent.
In the process, it has offered the first look at the grid of
the future. National Grid wants to use a smart approach
to create more flexibility in both electricity generation and
consumption to handle rising demand and the integration of
increasing amounts of uncertain wind power onto the network.
LONDON, July 10 (Reuters) – Notwithstanding the appalling
train disaster in Quebec this month, U.S. government accident
data show both railroads and pipelines are relatively safe ways
to move crude oil and other hazardous liquids over long
The Canadian derailment and subsequent explosion, which
killed at least 15 people and left dozens more unaccounted for,
has sparked a renewed debate about whether it is safer to move
crude and other hazardous liquids by tank car or pipeline.
LONDON, July 9 (Reuters) – Following every major disaster
there is an intense focus on the safety of the technology
concerned, but accident reports show the majority of incidents
are caused or made much worse by human error.
This month’s fiery train derailment in Canada and dramatic
plane crash in San Francisco have inevitably triggered an
intense focus on the safety of the technology concerned.