(Oil Price) – At the 2024 edition of CERAWeek, several energy executives openly called for a rethink of the energy transition. That had never happened before. Before, everyone was on board with a move from oil and gas to electricity. Fast forward a year, and it’s official: Big Oil is done with the transition and is returning to what it does
(World Oil) – The energy transition will be more difficult, costly, and complicated than expected, according to a new article by Daniel Yergin, Vice Chairman, S&P Global; Peter Orszag, CEO and Chairman, Lazard; and Atul Arya, Chief Energy Strategist, S&P Global. Writing in the March-April edition of Foreign Affairs, they say that it is time to rethink priorities, polices and
(Oil Price) – The Trump administration is looking into ways to cancel federal loans granted by the Department of Energy for transition projects from a $400-billion fund, Bloomberg has reported, citing an unnamed source. According to the report, the new leadership at the Department of Energy would focus its financial firepower on projects in nuclear energy, liquefied gas and other segments supported
(Investing) – WASHINGTON – The International Energy Agency needs to revamp how it writes its annual energy outlook to reflect real-world scenarios, not to bolster its current focus on the global energy transition, according to a report released on Wednesday by the agency’s former oil director. The report named Energy Delusions was written by former IEA oil director Neil Atkinson for
(Oil Price) – By reversing and axing most climate policies of the Biden administration, U.S. President Donald Trump will not be able to reverse progress in the energy transition as there is still a “compelling case” in favor of clean energy solutions, according to Citigroup’s analysts. “Clean energy is cheaper, more widely available, and more efficient,” Citigroup ESG analysts wrote in
(Oil Price) – U.S. clean energy investor Acadia Infrastructure Capital is launching a coalition with tech giant Microsoft as an anchor investor as part of plans to develop $9 billion worth of clean energy projects in the United States, Acadia’s Vice President Brian O’Callaghan told Reuters. Acadia is leading the Climate and Communities Investment Coalition (CCIC) to which other companies apart from
(Oil & Gas 360)– Jaguar just released an ad for their new electric vehicle which must rank as the new standard for weirdness. It just might exceed the Bud Light ad for brand destruction. Too bad. Another sacrifice on the woke altar. Did Jag not get the memo from Mercedes, Ford, and Volkswagen about sales volumes? The much-talked-about but not-much-done-about Energy
(Oil & Gas 360) – “Now comes the hard part.” That’s the reality confronting every victor in a Presidential election. After nearly nine years of placing domestic energy as one of the foundations of his “America First” platform, newly elected President Donald Trump is expected to quickly alter or outright eliminate several of the energy policies of the outgoing Biden administration.
(Oil & Gas 360) – The ever-changing global energy markets were given a comprehensive assessment by the International Energy Agency in its World Energy Outlook 2024 released earlier this October. The agency’s Energy Transition assessment highlights capacity additions of renewals of over 560 gigawatts added in 2023. Capacity refers to a source running at full efficiency; actual electron delivery from
(Oil & Gas 360) – The International Energy Administration (IEA) released its Government Energy Spending Tracker late last month detailing the nearly $3 trillion in global investment in decarbonization efforts. The United States accounts for roughly one-sixth of that number with nearly $ 600 billion allocated across six categories (outlined below). The figure equates to an approximate federal spend on
(Oil Price) – This week, the International Energy Agency said that the COP28 targets for expanding wind and solar capacity were “within reach”. Yet there was a “but”. That had to do with the fast expansion and upgrade of grids and the equally fast buildout of energy storage capacity. That “but” can doom the whole transition—if it’s not already doomed.
( World Oil) – OPEC doubled down on forecasts that global oil demand will keep growing to the middle of the century. World oil consumption is set to increase by 17.9 MMbpd, or roughly 18%, to 120.1 MMbpd by 2050, the Organization of Petroleum Exporting Countries said in its annual long-term outlook. It raised estimates covering the next two decades
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