After yesterday’s post on the wide range projection for oil next year, I wanted to share some thoughts on natural gas in 2009. I’ll start with the supply side, which has been more volatile than oil. Then I’ll go over some potential trends in demand.
Before we get deep into the coming year, I would like to share some views on potential global energy shifts in 2009. Today, I’ll start with our biggest energy source — oil.
Looking back at 2008, oil has been perhaps the wildest ride. Most analysts had no clue oil could rise to its July record ~$147 per barrel and then were equally caught off guard by the recent lows below $40. It is projected that 2008 will be the first year with a global demand decrease since the early 1980s. So, what shifts can we try to anticipate in the year ahead? Continue reading
I’m back from another amazing trip down to North Carolina to be with family! I ate enough to bicycle back to New York City, but of course we took the rental car and train with our Christmas presents and luggage 🙂
There have been some major energy developments that I’d like to begin discussing today… For instance, China is reported to have much slower coal consumption growth in 2008 than years past. Continue reading
The preliminary EIA estimates for US electricity use in October point to even deeper carbon dioxide emission reduction than I reported last week. The data are presented in their Electric Power Flash. Although the data will be refined in the weeks ahead, these estimates have big implications on our fossil fuel consumption and thus our greenhouse gas emissions. Continue reading
Below is SET’s first guest post – from our European partners over at Leonardo Energy, a Global web-based Community for Sustainable Energy Professionals. The author, Hans de Keulenaer, is the programme manager of “Electricity & Energy” at the European Copper Institute. Please enjoy our first of many guest posts at SET:
EU energy policy and the financial crisis
The financial crisis will not deter Europe on its course towards a low carbon economy, but it may slow it down. Continue reading
The US Energy Information Agency (EIA) released a preview of yet another exciting energy document yesterday, their Annual Energy Outlook (AEO) to 2030. This year’s AEO 2009 showed dramatic shifts from last year that can help us achieve carbon emissions reduction toward stabilizing our global climate. But it also shows we have more Continue reading
Even OPEC’s announced cut of 2.2 million barrels per day (Mbd) couldn’t send oil prices higher today. Recessionary demand continued to out-muscle supply cuts as prices remained below $45 per barrel (more than $100 below the July peak). Two new reports confirming US demand woes ruled another day of oil price determination. Continue reading
I’ve been startled by the number of global warming naysayers in comment threads around the internet lately who have pointed to some colder weather this year to try to poke holes in established science. Yes, there was an unusual snow in Houston and New Orleans. But for global warming, we need to look at annual and decades-long data to get a comprehensive picture. And the BBC just reported this morning that 2008 ranks as the 9th hottest year in historical record. Continue reading
I wrote a few months back how amazingly resilient natural gas inventories were in September despite the hurricane outages. The EIA just published an explanation in their electric power monthly data for the month. Electricity consumption fell more than 5% in September from 2007, sending natural gas demand for electricity down a staggering 15.5%! Demand for coal fell 3% and oil 19%, while hydroelectric generation Continue reading
As I guesstimated might happen a few days back, the record string of consecutive days with falling gasoline prices at the pump has come to an end. AAA reports that prices increased from $1.656 on Friday to $1.66 Saturday and then $1.663 today. I thought the $1.60-$1.65 range was a likely bottom based on wholesale gasoline prices, and that has proved to be correct for now. But OPEC decisions and the weather will determine whether this temporary bottom ends up Continue reading