Fossil Fuels

Cal on June 23rd, 2017

     Source:  World Energy 2017-2050: Annual Report

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Cal on June 21st, 2017

The International Energy Agency foresees the global oversupply of crude oil continuing through 2018. The driver is US shale oil production which will grow by 430,000 barrels per day this year and 780,000 next year. Total non-OPEC production including the US is forecast to grow by 1.5 million b/d next year. With global inventories currently […]

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Cal on June 17th, 2017

In its annual review of world energy, BP said renewable energy contributed almost 40% of the growth in global power generation in 2016. Solar power generation increased 29.6% last year, while wind power grew by 15.6% percent and coal fell 6.2%.  Coal’s decline in electricity production was the largest one year drop on record. Asia-Pacific overtook Europe […]

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Cal on June 13th, 2017

Last year, for the 5th straight year, the US was the world’s largest producer of petroleum and natural gas hydrocarbons. US hydrocarbon production in energy content terms is almost evenly split between petroleum and natural gas. US crude oil production will, for the first time in nearly 50 years, climb to 10 million barrels per day […]

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Cal on June 11th, 2017

Australia’s chief scientist, Alan Finkel, briefed the prime minister and state premiers on his special report into the nation’s electricity market and recommends a transition policy as cold-fired electrical generation is phased out. The study was requested by the federal energy minister last fall as the country struggled with several wide-spread power failures in the state […]

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Cal on June 3rd, 2017

Oilprice makes the case that China, not OPEC, now sets the level of world oil prices. OPEC is working hard to try to keep world crude oil prices high as their members need the oil revenues to finance the increasing demands on government expenditures. But China is the largest crude oil importer in the world and […]

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Cal on May 28th, 2017

The world’s largest oil producers agreed this week to continue to hold back oil production for another nine months in a bid to raise sluggish world crude oil prices. The deal was agreed between members OPEC and non-OPEC producers including Russia. The participants said they would continue to make cuts of 1.8 million barrels of crude oil a day until March […]

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Cal on May 27th, 2017

“For the first time solar is cheaper than coal in India and the implications this has for transforming global energy markets is profound.” — Tim Buckley, director of energy finance studies at the Institute for Energy Economics and Financial Analysis, commenting on the results of solar auctions in India this week where the successful bids by solar […]

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