I think it’s fair to say that the recent Energy Outlook from the International Energy Agency represents a significant moment in the discourse around renewable energy.
Global investment in coal-fired power plants is set to decline “dramatically” after passing an all-time high during the past several years, says the International Energy Agency (IEA). That’s one of the most striking messages from World Energy Investment 2017, published today (11th July). The report, now in its second year, offers a comprehensive picture of energy investment from fossil-fuel extraction through to transport, energy efficiency and power networks.
Renewable energy capacity is growing more rapidly than expected, says the International Energy Agency (IEA), overtaking coal for the first time.
US growth is seen to decline to a meagre 160 kb/d by 2017. That is plausible given the high decline rates in tight oil fields.
Well, that shale bubble, didn’t last long, did it?
A mid-week update. New York and London futures prices diverged this week as different factors emerged to drive the two market in different directions.
A mid-week update. After falling on Monday and Tuesday, oil prices rebounded to roughly unchanged on Wednesday on a weaker dollar and a report from Libya that oil production has fallen to less than 1 million b/d after sabotage and labor unrest closed oilfields and ports. New York oil futures closed at $95.88 and London at $103.49 — widening the spread which on Tuesday narrowed to the lowest it has been in two years.
A mid-week update. While oil prices are little changed this week, there has been considerable news concerning the energy markets. Bad economic reports from Europe, the US, and China have helped keep pressure on the markets and raised fears of lower demand for oil in the months ahead. The worse-than-expected economic news, however, pushed the S and P to a new high Wednesday on the hope that Federal Reserve will continue quantitative easing. The increase in equities helped oil prices to recover from losses earlier in the week. At the close, NY oil was $94.30 a barrel while London had climbed to $103.68 thereby widening the WTI-London spread to $9.38 from Monday’s close of $7.65.
The IEA forecast for the future of petroleum is not only too optimistic, but also wrong because they are based on summing volumes of fuels which have different output and energy costs of extraction. Here you find the correct analysis, much less reassuring
A midweek update.