Post Tagged with: "fossil fuels"

Source: World Oil

Energy transition still means billions in fossil-fuel investment

World Oil


(Bloomberg) — The energy crisis triggered by Russia’s invasion of Ukraine is increasing the world’s motivation to shift to low-carbon energy, but is also creating a near-term scramble for fossil fuels that will drive billions of dollars of …

Source: CNBC

Saudi Aramco CEO warns of social unrest if new investment in fossil fuels ends too quickly

CNBC


Amin Nasser, the chief executive of Saudi Aramco, the world’s biggest oil producer, urged global leaders on Monday to continue investing in planet-warming fossil fuels in the years ahead, arguing that the assumption the world could transition to clean …

Source: Reuters

Global oil CEOs stress need for fossil fuels despite push for cleaner energy

Reuters


HOUSTON -A global energy conference devoted to future technologies and low-carbon strategies kicked off in Houston on Monday with top executives from energy companies affirming the need for more oil for decades to come.

The World Petroleum Conference’s four …

Source: CNBC

Don’t ditch traditional energy stocks for solar just yet, two traders say

CNBC


It’s worth hanging onto traditional energy stocks despite the recent resurgence in solar names, two traders say.

The popular Invesco Solar ETF (TAN) is up nearly 10% this week, helped in part by Enphase Energy’s surge after reporting record

Shell says break-up of group would not work in real life

Shell says break-up of group would not work in real life

Reuters


LONDON (Reuters) – Breaking up oil major Royal Dutch Shell into separate fossil fuels and renewables companies might be financially compelling but would not work in real life, finance chief Jessica Uhl said on Thursday.

Activist hedge fund Third …

Source: Reuters

Despite green talk, pre-COVID oil demand seen returning soon

Nasdaq


LONDON – World oil demand will rise back above 100 million barrels per day, a level last reached in 2019, as soon as the second quarter of next year, according to major forecasters, challenging views that the pandemic may …

Source: CNBC

Action on climate change can provide a shot in the arm for the global economy, economist says

CNBC


Ramping up investment in policies and technologies to tackle climate change could play a significant role in the global economy’s recovery from the coronavirus pandemic.

In a recent note, Charles Dumas, chief economist at U.K.-based investment research firm TS

Source: CNBC

Carbon capture is expected to play a pivotal role in the race to net zero emissions. But not everyone agrees

CNBC


LONDON — Carbon capture technology is often held up as a source of hope in reducing global greenhouse gas emissions, featuring prominently in countries’ climate plans as well as the net-zero strategies of some of the world’s largest oil …

Source: CNBC

Renewable electricity generation is growing — but it’s not enough to meet rising demand, IEA says

CNBC


The planet’s demand for electricity is set for a strong rebound this year and next after dropping by approximately 1% in 2020, according to a new publication from the International Energy Agency.

Released Thursday, the IEA’s Electricity Market Report …

Source: Reuters

EBRD stops investing in upstream oil and gas to align with Paris goals

Reuters


LONDON – The European Bank for Reconstruction and Development (EBRD) will stop investing in upstream oil and gas projects as part of plans to align its activities with the goals of the Paris Agreement on climate change by the …

Source: Reuters

BlackRock CEO says Shell decarbonisation ruling “not a solution”

Reuters


MILAN – Last week’s Dutch court decision against Royal Dutch Shell RDSa.L is not the way to solve the global decarbonisation issue and risks shifting the problem to private firms, the head of the world’s largest money manager said …

Source: Reuters

Column: Who will pay for the energy transition? Kemp

Reuters


LONDON – The transition from a fossil-fuel dominated energy system to one with zero emissions would require trillions of dollars of investment in new production, distribution and consumption equipment worldwide.

 

New investments could support millions of new jobs …

Source: Reuters

Biden proposal: $174 billion for EVs, new funds for renewable power

Reuters


WASHINGTON – President Joe Biden’s vast infrastructure plan includes $174 billion to boost the markets for electric vehicles and billions more for renewable power – both provisions aimed at weaning the U.S. off of fossil fuels and combating climate …

Source: Reuters

Latam lags in energy transition race; urgent needs unmet

Reuters


MEXICO CITY – As oil majors and developed nations push for a faster transition to clean energy, much of Latin America is struggling just to cover its basic supply needs for fossil fuels, which is forcing some countries to …

Source: Reuters

Oil executives say demand will rise, despite emphasis on renewables

Reuters


NEW YORK – Oil demand is expected to rise over the next decade and the fossil fuel will remain to be a crucial part of the energy mix, even as renewables draw increasing attention, Hess Corp Chief Executive John …

March 1, 2021 - 3:00 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

State oil firms risk wasting $400 billion as energy transition speeds up

Reuters


LONDON – National oil companies (NOCs) risk squandering $400 billion on expensive oil and gas projects over the next decade that may only break even if the world fails to meet the Paris climate goals, a non-governmental organisation said …

Source: Reuters

Shell targets power trading and hydrogen in climate drive

Reuters


LONDON – Royal Dutch Shell is betting on its expertise in power trading and rapid growth in hydrogen and biofuels markets as it shifts away from oil, rather than joining rivals in a scramble for renewable power assets, company …

Source: Reuters

Analysis-Climate could pay the price as Europe’s nuclear plants age

Reuters


LONDON – Nuclear power capacity able to supply roughly 60 million homes is scheduled to close this decade as utilities struggle to replace northwest Europe’s ageing reactors, raising the risk of higher carbon emissions as fossil fuels plug the …

Source: boereport.com

Digital economy supply chains – excellent CBC (!) podcast lays bare the cold, hard, massive realities

BOE Report


Time to come clean about something. Like almost any other person affiliated with the hydrocarbon industry, I’ve long been frustrated with the Ottawa-centric, social-science-heavy analyses of industry provided by the CBC. The institution’s output seems geared to the …

Source: Reuters

Final U.S. offshore oil auction under Trump will test industry demand

Reuters


The Trump administration on Wednesday will offer all available areas in the Gulf of Mexico for auction to oil and gas companies in its final offshore sale before the January inauguration of President-elect Joe Biden, a Democrat who has …

November 18, 2020 - 10:30 am Closing Bell Story‎, Crude Oil News, Energy News, Offshore
Leveraging the moral case for fossil fuels with Alex Epstein

Leveraging the moral case for fossil fuels with Alex Epstein

BOE Report


Alex Epstein, who most know from his book “The Moral Case for Fossil Fuels” has been busy.

Leveraging the moral case for fossil fuels with Alex Epstein- oil and gas 360

Since founding the energy think tank Center for Industrial Progress in 2011 he received the “Most Original Thinker of 2014” award …

November 17, 2020 - 1:00 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Norway’s top court starts hearing on Arctic oil exploration

Reuters


OSLO – Norway’s top court began to hear arguments on Wednesday on the legality of awarding offshore oil licenses in the Arctic, in a landmark case that could stop the industry’s expansion.

The lawsuit, led by environmental groups Greenpeace …

November 4, 2020 - 1:00 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Trump will roll back more environmental regulations if reelected, says EPA chief

CNBC


President Donald Trump will move to weaken more environmental regulations on industries if reelected in November, while work to complete Superfund cleanup projects, according to Environmental Protection Agency administrator Andrew Wheeler.

The Trump administration in a second term would …

September 3, 2020 - 12:00 pm Climate Change, Closing Bell Story‎, Energy News, Regulatory
Source: Houston Chronicle

2 giants with 2 strategies that aren’t working

Houston Chronicle


Everyone from environmentalists to investors is beating up on fossil fuels, and American energy giants Exxon Mobil Corp. and Chevron Corp. are taking increasingly diverging approaches as they try to weather the storm.

The problem is, neither strategy …

Source: forbes.com

European Investment Bank to cease funding fossil fuel projects by end-2021

Reuters


The European Investment Bank said on Thursday it would stop funding fossil fuel projects at the end of 2021, in a landmark decision.

The bank’s new energy lending policy, which was approved with “overwhelming” support, will bar most fossil …

Gas is Part of the Solution in the Planet’s Energy Transition, Goldman Sachs Strategist Says

Gas is Part of the Solution in the Planet’s Energy Transition, Goldman Sachs Strategist Says

From CNBC


Gas has an important role to play in the global energy transition, according to the head of EMEA natural resources research at Goldman Sachs.

Speaking to CNBC Friday, Michele Della Vigna said that, in his personal view, gas …

Big Oil is Investing Billions in Potentially Worthless Projects

Big Oil is Investing Billions in Potentially Worthless Projects

From Bloomberg Businessweek

By Mathew Carr


The top 10 energy companies are planning investments approaching $1 trillion by 2030, in everything from finding and tapping new fields to equipment ranging from drones to drilling rigs. If the oil and gas …

Senate Confirms McNamee for FERC Commissioner

Senate Confirms McNamee for FERC Commissioner

From The Hill

The Senate confirmed President Trump’s pick for a key energy agency Thursday over Democrats’ objections that he is too biased for the job.

The 50 to 49 vote along party lines means Bernard McNamee, a Republican …

December 7, 2018 - 10:57 am Closing Bell Story‎, Politics & Opinions, Press Releases
Result of BNP Bank of the West ‘No Fossil Fuels’ Stance: Retaliation

Result of BNP Bank of the West ‘No Fossil Fuels’ Stance: Retaliation

From the AP/Washington Post

Bank of the West’s decision to divest from certain fossil fuel investments has run headlong into threats of retaliation in states that get much of their revenue from coal, oil and natural gas extraction.

The San …

August 15, 2018 - 9:33 am Closing Bell Story‎, Politics & Opinions
Germany’s Reluctant Coalition Govt. Agrees to Coal Phase Out

Germany’s Reluctant Coalition Govt. Agrees to Coal Phase Out

While Germany continues to phase out both nuclear and coal, natural gas will remain a baseload and backup fuel

From Power Magazine

Germany’s Social Democratic Party (SPD) members agreed to join their longtime rival and governing partner, the Christian Democratic …

March 13, 2018 - 2:38 pm Closing Bell Story‎, Energy News