A giant oil field was found in the US state of Texas that holds 20 billion barrels of oil trapped in four layers of shale. This is about three times larger than the Bakken field in the state of North Dakota and the single largest US. unconventional crude deposit, according to the US Geological Survey.  The oil field is valued at almost $1 trillion.  Some believe the Permian’s shale in Texas could hold as much as 75 billion barrels, making it second in the world to Saudi Arabia’s Ghawar field.

The US Geological Survey said the Wolfcamp shale in the US state of Texas holds 16 trillion cubic feet of natural gas and 1.6 billion barrels of gas liquids.

The International Energy Agency says it expects global crude oil consumption will not peak until at least 2040.  “The difficulty of finding alternatives to oil in road freight, aviation and petrochemicals means that, up to 2040, the growth in these three sectors alone is greater than the growth in global oil demand,” the Agency said in its annual World Energy Outlook. Oil demand will reach 103.5 million barrels per day by 2040 up from 92.5 million bpd in 2015. China will overtake the United States to become the single largest oil-consuming nation.

Alaska Airlines flew the first commercial flight powered by fuel derived from forest residuals (the remaining branches and limbs after the harvesting season or the thinning of forests). The flight took off from Seattle-Tacoma International Airport in the US state of Washington and landed at Reagan National Airport in Washington, D.C. The fuel was comprised of cellulosic sugars obtained from wood waste and converted into isobutanol, which was further transformed into Alcohol-to-Jet (ATJ) fuel. This is the first alternative jet fuel in the world derived from wood. In June of this year, Alaska Airlines flew two other flights using a mixture of biofuel manufactured from the non-edible part of the corn stalk.

A report from Market Research Engine projects the offshore wind energy market will exceed more than 52 gigawatts by 2022. Offshore wind farms are located offshore, typically on the ocean bottom, and use wind energy to generate electricity.

47 of the world’s most disadvantaged nations have pledged to generate all their future energy needs from renewables between 2030 and 2050. However, much of the progress towards meeting these renewable energy goals will depend on finance from richer nations, including the US which said it is pulling out of the recent Paris Climate Agreement.

The Central Asian country of Azerbaijan says it plans to increase the share of renewable energy to 20% of total energy capacity by 2020. The government says renewable energy has the potential to produce more than 25.3 gigawatts, which would enable the production of 62.8 billion kilowatt/hours of electricity per year. Currently renewables have the capacity to produce 12 GW with solar and wind accounting for 9.5 GW,

With the opening of a new hydroelectric plant in the Amazon next year, the South American nation of Equador will get 90% of its electricity from renewable energy. The Coca Codo Sinclair hydroelectric facility has a generating capacity of 1.5 gigawatts, enough to alone produce enough electricity to satisfy all household demand in the country. In less than a decade, Ecuador has gone from importing electricity to exporting electricity to neighboring countries.

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