LONDON, June 30 (Reuters) – “Equality of opportunity as we
have known it no longer exists,” Franklin Delano Roosevelt
warned gloomily in September 1932. “Our industrial plant is
built; the problem just now is whether under existing conditions
it is not overbuilt.”
In a campaign speech to the Commonwealth Club of San
Francisco, the Democratic Party’s nominee for president of the
United States told his listeners that “opportunity in business
LONDON, June 26 (Reuters) – The U.S. Commerce Department’s
decision to allow two companies to begin exporting ultra-light
condensate after only minimal refining marks the beginning of
the end of the ban on American crude oil exports.
The ban, which applies to crude but not refined products,
has never made much sense economically or in terms of fuel
chemistry, but now the department’s rulings show it may be
impossible to enforce in practice.
LONDON, June 23 (Reuters) – Two-thirds of the world’s
already discovered reserves of oil, coal and natural gas must
remain unburned if the rise in average global temperatures is to
be limited to 2 degrees Celsius by 2050, according to the
International Energy Agency.
But coal miners and oil and gas companies round the world
allocated $674 billion to finding even more reserves and new
ways of extracting them in 2012/13. Much of this investment
risks being wasted, according to the Carbon Tracker Initiative,
which is campaigning to get investors to think again.
(“Unburnable carbon 2013: wasted assets and stranded capital”)
LONDON, June 20 (Reuters) – New air pollution standards on
emissions of mercury and other heavy metals from coal-fired
power plants will avert up to 11,000 premature deaths every year
in the United States.
The U.S. Environmental Protection Agency says the standards
will generate benefits worth between $37 billion and $90 billion
a year – with fewer heart attacks, asthma attacks and sick days
- at a cost to coal- and oil-fired power producers of less than
$10 billion (“Regulatory impact analysis for the final air
toxics standards”, December 2011).
LONDON (Reuters) – China’s power engineers have become world leaders in ultra-high-voltage transmission systems connecting far-off power sources with cities hungry for electricity.
China already has seven ultra-high-voltage (UHV) lines in operation, more than any other country, carrying power over thousands of kilometers at around 800,000 or even 1 million volts.
LONDON, June 19 (Reuters) – China’s power engineers have
become world leaders in ultra-high-voltage transmission systems
connecting far-off power sources with cities hungry for
China already has seven ultra-high-voltage (UHV) lines in
operation, more than any other country, carrying power over
thousands of kilometres at around 800,000 or even 1 million
LONDON (Reuters) – Petroleum coke exports from U.S. refineries hit a near-record 642,000 barrels per day in March as cheap natural gas and emissions regulations have slashed domestic consumption and forced producers to look abroad.
Coke consumption by U.S. power producers has dropped to around 5 million tonnes per year from almost 8 million a decade ago, according to the U.S. Energy Information Administration.
LONDON (Reuters) – In 1988, Supreme Leader Ayatollah Ruhollah Khomeini “drank the cup of poison” and agreed to a U.N.-mediated ceasefire with Saddam Hussein to end the devastating Iran-Iraq war.
For Iran’s leader, whose country suffered nearly a million deaths at the hands of the enemy, with countless more wounded, the bitterness can only be imagined, but it must have seemed better than continuing to fight.
LONDON, June 12 (Reuters) – Iran, Syria, Sudan, Libya,
Nigeria and now Iraq: the crude oil market has weathered a long
list of actual and threatened supply shocks with remarkable
According to the U.S. Energy Information Administration
(EIA), unplanned disruptions have removed around 2.5 million
barrels per day from the crude market since the start of 2011.
LONDON (Reuters) – For decades, India’s power engineers had a dream: “One Nation. One Grid. One Frequency.”
At the start of this year, that vision was realized. India finally has a nationwide power system stretching from Tamil Nadu in the south to Kashmir in the north, Gujarat in the west to Nagaland in the east.