California cuts diesel emissions
By Peter Bowes BBC News, Los Angeles
Schwarzenegger says the move will prevent premature deathsAir-quality regulators in California have introduced tough new rules controlling fuel emissions from some diesel-powered engines.
The regulations will affect off-road vehicles such as bulldozers and airport baggage trucks.
In all, about 180,000 vehicles will have to be replaced or updated under the toughest rules in the US.
The new rules require diesel equipment to be cleaned up from 2010, but the process will probably take until 2025.
The California Air Resources Board voted unanimously to clean up emissions from vehicles like bulldozers, fork-lift trucks and snowcats which are used on ski resorts.
The rules will eventually force the oldest and most polluting equipment out of service.
Construction firms will have to spend billions of dollars on new vehicles or on refitting engines.
Officials have acknowledged that coming up with a proposal that is both cost-effective and fair has not been easy.
The clean-air plan has been promoted by health advocates and has been the focus of intense lobbying by industry representatives, who were concerned about the cost to businesses.
California Governor Arnold Schwarzenegger said the Board's action showed that California was "leading the charge" to protect public health.
He added that the new regulations would prevent thousands of premature deaths every year and save billions in health-care costs.
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Tuesday, July 31, 2007
Monday, July 30, 2007
US scientists discover 'energy microbe'
Posted Fri Jul 27, 2007 9:42pm AEST
A group of US scientists has made a discovery they say could prove important in finding alternative forms of energy.
The journal Science reports that scientists have found a microbe that converts light to energy, a process known as photosynthesis.
It has been discovered in the famous hot springs in Yellowstone National Park, in the American north-west.
They say that studying the bacterium could help produce stocks of fossil fuels.
- BBC
Posted Fri Jul 27, 2007 9:42pm AEST
A group of US scientists has made a discovery they say could prove important in finding alternative forms of energy.
The journal Science reports that scientists have found a microbe that converts light to energy, a process known as photosynthesis.
It has been discovered in the famous hot springs in Yellowstone National Park, in the American north-west.
They say that studying the bacterium could help produce stocks of fossil fuels.
- BBC
California cracks down on vehicle emissions
Posted Sat Jul 28, 2007 8:08pm AEST
California's Government has announced tough new clean air measures that will affect diesel-powered vehicles on building sites, airports and industrial premises.
State Governor Arnold Schwarzenegger says the measures show California is leading the way in protecting public health.
The new rules are the toughest in the United States.
The California Air Resources Board voted unanimously to clean up emissions from vehicles like bulldozers, forklift trucks and snow cats, which are used on ski resorts.
The rules will eventually force the oldest and most polluting equipment out of service.
In all, about 180,000 vehicles will have to be replaced or updated.
- BBC
Tags: business-economics-and-finance, business-regulation, environment, climate-change, world-politics, united-states
Posted Sat Jul 28, 2007 8:08pm AEST
California's Government has announced tough new clean air measures that will affect diesel-powered vehicles on building sites, airports and industrial premises.
State Governor Arnold Schwarzenegger says the measures show California is leading the way in protecting public health.
The new rules are the toughest in the United States.
The California Air Resources Board voted unanimously to clean up emissions from vehicles like bulldozers, forklift trucks and snow cats, which are used on ski resorts.
The rules will eventually force the oldest and most polluting equipment out of service.
In all, about 180,000 vehicles will have to be replaced or updated.
- BBC
Tags: business-economics-and-finance, business-regulation, environment, climate-change, world-politics, united-states
Coal miners call for emissions target
Posted Sun Jul 29, 2007 9:17am AEST Updated Sun Jul 29, 2007 1:56pm AEST
The CFMEU says mining jobs depend on cleaning up the coal industry [File photo]. (AAP)
Video: Unions critical of Govt climate change action (ABC News)
The coal miners' union denies it is just trying to get Labor leader Kevin Rudd elected by launching a new ad campaign targeting the Federal Government's record on climate change.
The Construction, Forestry, Mining and Energy Union (CFMEU) is today launching a million-dollar advertising campaign attacking Prime Minister John Howard's stance.
This month Mr Howard announced he would spend over $600 million on measures to tackle global warming, including establishing a comprehensive "cap and trade" emissions trading scheme.
But the Federal Government says it will not set a target for emissions until after the election.
CFMEU mining division president Tony Maher has told Channel 10 mining jobs depend on cleaning up the coal industry.
"Importantly, we need a clean energy target, a target that guarantees a market share for all of the technologies that can produce a low emissions future," he said.
"That's what's missing from the debate at the moment.
"The Federal Government is proposing an emissions trading scheme but they won't tell us what it's going to look like until after the election."
Tags: business-economics-and-finance, industry, mining, environment, climate-change, government-and-politics, federal-government , unions, coal, australia
Posted Sun Jul 29, 2007 9:17am AEST Updated Sun Jul 29, 2007 1:56pm AEST
The CFMEU says mining jobs depend on cleaning up the coal industry [File photo]. (AAP)
Video: Unions critical of Govt climate change action (ABC News)
The coal miners' union denies it is just trying to get Labor leader Kevin Rudd elected by launching a new ad campaign targeting the Federal Government's record on climate change.
The Construction, Forestry, Mining and Energy Union (CFMEU) is today launching a million-dollar advertising campaign attacking Prime Minister John Howard's stance.
This month Mr Howard announced he would spend over $600 million on measures to tackle global warming, including establishing a comprehensive "cap and trade" emissions trading scheme.
But the Federal Government says it will not set a target for emissions until after the election.
CFMEU mining division president Tony Maher has told Channel 10 mining jobs depend on cleaning up the coal industry.
"Importantly, we need a clean energy target, a target that guarantees a market share for all of the technologies that can produce a low emissions future," he said.
"That's what's missing from the debate at the moment.
"The Federal Government is proposing an emissions trading scheme but they won't tell us what it's going to look like until after the election."
Tags: business-economics-and-finance, industry, mining, environment, climate-change, government-and-politics, federal-government , unions, coal, australia
Study assesses pros and cons of alternative fuel technologies
[Date: 2007-07-25]
A number of alternative fuel technology options for road and air transport have been developed in recent years. While most of them have been extensively discussed, the information available is usually fragmented, being either too scientific or simplistic in its presentation, and generally not comparable. Now STOA, the European Parliament's Scientific Technology Options Assessment body, has published an inventory of 20 of the most promising options, which are clustered in five technologies: hydrogen and fuel cells, battery electric vehicles, hybrid technology, biofuels and natural gas. The inventory provides a comparative overview of the pros and cons of each of these technologies. Focusing primarily on road transport, the study starts by looking at hydrogen which, when combined with fuel cells, seems to be a promising technology alternative. However, some serious technological problems remain unsolved, including for instance questions concerning the performance of fuel cells, and the production of large amounts of 'clean' hydrogen. Recently, the only affordable way of large-scale hydrogen production has been via steam-reformation from natural gas. From a mid-term perspective, this route might support the market penetration of hydrogen and of fuel cells, notes the study. The crucial point is that, in this case, hydrogen would be derived from a fossil fuel source. Other routes are also being discussed, including the production of hydrogen from renewable sources (wind, photovoltaic, solar thermal, water) via electrolysis. This is often regarded as a kind of silver bullet since it enables close to zero emissions of greenhouse gases (GHG). 'But it is not clear if, at which time, and in which regions the production of hydrogen from renewable sources will be feasible at larger scales and at reasonable costs,' says the study. A 'clean' production of hydrogen from nuclear power is feasible as well, but the drawbacks here are the finiteness of uranium sources and the acceptance of the use of nuclear power. In terms of climate security, the study predicts that the coal route will only be suitable if it is combined with CO2 sequestration and storage (CSS). Assessing the use of hybrid technology, the study finds that this option offers the possibility to save energy and emissions by using established technologies and infrastructures. Whatever fuel and propulsion technology will be dominant in 20 to 30 years, the authors of the study predict that that hybrid technology will be part of the propulsion system. It is an important component of most fuel cell concepts and there seems to be a high potential to further improve the efficiency of conventional fuels. The development of pure electric cars is also explored. Here the study remarks that the commercialisation of such vehicles will strongly depend on the development of suitable batteries. In spite of decades of research and development activities, decisive technological breakthroughs regarding batteries are not in sight. 'Yet, a surprising breakthrough in battery technology is not completely impossible and would surely entail radical changes to both the transport and the energy sector,' say the authors of the study. No inventory on alternative fuel sources would be complete without an assessment of biofuels. While recognising the ease at which so-called first generation fuels, mainly biodiesel and bioethanol, can be produced today, the study sees second generation fuels as the way forward. Unlike their ancestors, second generation biofuels can be made using the whole plant or from biomass other than rapeseed and sugar cane. It is estimated that by 2030, roughly 20% to 30% of the EU's road transport fuels could be covered by biofuels derived from European biomass such as energy crops, agricultural and forestry residues or the organic fraction of municipal solid waste. But to meet the continent's fuel needs, it is likely that biomass will have to be imported from abroad. This should be critically discussed, argues the study, since importing biomass may be detrimental to ecologically sensitive areas worldwide. Last on the list of possible fuel alternatives is compressed natural gas technology (CNG). 'This is a feasible technology for the transport sector and has the potential to bring at least mid-term improvements in terms of energy security and GHG emissions,' notes the study. But its possible contribution to energy security strongly depends on the overall demand for natural gas. It is likely that CNG vehicles will become at least established for niche applications, such as in larger fleets or in inner cities. Meanwhile the study predicts that liquid petroleum gas (LPG) will offer environmental benefits at relatively low costs. However, since both CNG and LPG are based on fossil feedstock, they must be considered as bridging technologies. They might help to pave the way for 'cleaner' gaseous fuels such as hydrogen, bio-methane or dimethyl ethyl (DME), suggests the study.
For more information, please visit: http://www.europarl.europa.eu/stoa/publications/studies/stoa179_en.pdf
[Date: 2007-07-25]
A number of alternative fuel technology options for road and air transport have been developed in recent years. While most of them have been extensively discussed, the information available is usually fragmented, being either too scientific or simplistic in its presentation, and generally not comparable. Now STOA, the European Parliament's Scientific Technology Options Assessment body, has published an inventory of 20 of the most promising options, which are clustered in five technologies: hydrogen and fuel cells, battery electric vehicles, hybrid technology, biofuels and natural gas. The inventory provides a comparative overview of the pros and cons of each of these technologies. Focusing primarily on road transport, the study starts by looking at hydrogen which, when combined with fuel cells, seems to be a promising technology alternative. However, some serious technological problems remain unsolved, including for instance questions concerning the performance of fuel cells, and the production of large amounts of 'clean' hydrogen. Recently, the only affordable way of large-scale hydrogen production has been via steam-reformation from natural gas. From a mid-term perspective, this route might support the market penetration of hydrogen and of fuel cells, notes the study. The crucial point is that, in this case, hydrogen would be derived from a fossil fuel source. Other routes are also being discussed, including the production of hydrogen from renewable sources (wind, photovoltaic, solar thermal, water) via electrolysis. This is often regarded as a kind of silver bullet since it enables close to zero emissions of greenhouse gases (GHG). 'But it is not clear if, at which time, and in which regions the production of hydrogen from renewable sources will be feasible at larger scales and at reasonable costs,' says the study. A 'clean' production of hydrogen from nuclear power is feasible as well, but the drawbacks here are the finiteness of uranium sources and the acceptance of the use of nuclear power. In terms of climate security, the study predicts that the coal route will only be suitable if it is combined with CO2 sequestration and storage (CSS). Assessing the use of hybrid technology, the study finds that this option offers the possibility to save energy and emissions by using established technologies and infrastructures. Whatever fuel and propulsion technology will be dominant in 20 to 30 years, the authors of the study predict that that hybrid technology will be part of the propulsion system. It is an important component of most fuel cell concepts and there seems to be a high potential to further improve the efficiency of conventional fuels. The development of pure electric cars is also explored. Here the study remarks that the commercialisation of such vehicles will strongly depend on the development of suitable batteries. In spite of decades of research and development activities, decisive technological breakthroughs regarding batteries are not in sight. 'Yet, a surprising breakthrough in battery technology is not completely impossible and would surely entail radical changes to both the transport and the energy sector,' say the authors of the study. No inventory on alternative fuel sources would be complete without an assessment of biofuels. While recognising the ease at which so-called first generation fuels, mainly biodiesel and bioethanol, can be produced today, the study sees second generation fuels as the way forward. Unlike their ancestors, second generation biofuels can be made using the whole plant or from biomass other than rapeseed and sugar cane. It is estimated that by 2030, roughly 20% to 30% of the EU's road transport fuels could be covered by biofuels derived from European biomass such as energy crops, agricultural and forestry residues or the organic fraction of municipal solid waste. But to meet the continent's fuel needs, it is likely that biomass will have to be imported from abroad. This should be critically discussed, argues the study, since importing biomass may be detrimental to ecologically sensitive areas worldwide. Last on the list of possible fuel alternatives is compressed natural gas technology (CNG). 'This is a feasible technology for the transport sector and has the potential to bring at least mid-term improvements in terms of energy security and GHG emissions,' notes the study. But its possible contribution to energy security strongly depends on the overall demand for natural gas. It is likely that CNG vehicles will become at least established for niche applications, such as in larger fleets or in inner cities. Meanwhile the study predicts that liquid petroleum gas (LPG) will offer environmental benefits at relatively low costs. However, since both CNG and LPG are based on fossil feedstock, they must be considered as bridging technologies. They might help to pave the way for 'cleaner' gaseous fuels such as hydrogen, bio-methane or dimethyl ethyl (DME), suggests the study.
For more information, please visit: http://www.europarl.europa.eu/stoa/publications/studies/stoa179_en.pdf
Thursday, July 26, 2007
Renewable energy wrecks environment, scientist claims
Renewable does not mean green. That is the claim of Jesse Ausubel of the Rockefeller University in New York. Writing in Inderscience's International Journal of Nuclear Governance, Economy and Ecology, Ausubel explains that building enough wind farms, damming enough rivers, and growing enough biomass to meet global energy demands will wreck the environment.
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Ausubel has analyzed the amount of energy that each so-called renewable source can produce in terms of Watts of power output per square meter of land disturbed. He also compares the destruction of nature by renewables with the demand for space of nuclear power. "Nuclear energy is green," he claims, "Considered in Watts per square meter, nuclear has astronomical advantages over its competitors."
On this basis, he argues that technologies succeed when economies of scale form part of their evolution. No economies of scale benefit renewables. More renewable kilowatts require more land in a constant or even worsening ratio, because land good for wind, hydropower, biomass, or solar power may get used first. A consideration of each so-called renewable in turn, paints a grim picture of the environmental impact of renewables. Hypothetically flooding the entire province of Ontario, Canada, about 900,000 square km, with its entire 680,000 billion liters of rainfall, and storing it behind a 60 meter dam would only generate 80% of the total power output of Canada's 25 nuclear power stations, he explains. Put another way, each square kilometer of dammed land would provide the electricity for just 12 Canadians. Biomass energy is also horribly inefficient and destructive of nature. To power a large proportion of the USA, vast areas would need to be shaved or harvested annually. To obtain the same electricity from biomass as from a single nuclear power plant would require 2500 square kilometers of prime Iowa land. "Increased use of biomass fuel in any form is criminal," remarks Ausubel. "Humans must spare land for nature. Every automobile would require a pasture of 1-2 hectares." Turning to wind Ausubel points out that while wind farms are between three to ten times more compact than a biomass farm, a 770 square kilometer area is needed to produce as much energy as one 1000 Megawatt electric (MWe) nuclear plant. To meet 2005 US electricity demand and assuming round-the-clock wind at the right speed, an area the size of Texas, approximately 780,000 square kilometers, would need to be covered with structures to extract, store, and transport the energy.
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The Electricity Blog Electrical technologies and their applicationwww.leonardo-energy.org/
Renewable Liquid Fuel Green energy for heat and power generation - biomass to Bio Oilwww.dynamotive.com
Wind Turbines Free Power from Wind Turbines 1kw to 250kw full kits from £985www.joliet-europe.com
One hundred windy square meters, a good size for a Manhattan apartment, could power an electric lamp or two, but not the laundry equipment, microwave oven, plasma TV, and computer. New York City would require every square meter of Connecticut to become a wind farm to fully power all its electrical equipment and gadgets. Solar power also comes in for criticism. A photovoltaic solar cell plant would require painting black about than 150 square kilometers plus land for storage and retrieval to equal a 1000 MWe nuclear plant. Moreover, every form of renewable energy involves vast infrastructure, such as concrete, steel, and access roads. "As a Green, one of my credos is 'no new structures' but renewables all involve ten times or more stuff per kilowatt as natural gas or nuclear," Ausubel says. While the full footprint of uranium mining might add a few hundred square kilometers and there are considerations of waste storage, safety and security, the dense heart of the atom offers far the smallest footprint in nature of any energy source. Benefiting from economies of scale, nuclear energy could multiply its power output and even shrink the energy system, in the same way that computers have become both more powerful and smaller. "Renewables may be renewable but they are not green," asserts Ausubel", If we want to minimize new structures and the rape of nature, nuclear energy is the best option." Source: Inderscience Publishers
» Next Article in Space
Renewable does not mean green. That is the claim of Jesse Ausubel of the Rockefeller University in New York. Writing in Inderscience's International Journal of Nuclear Governance, Economy and Ecology, Ausubel explains that building enough wind farms, damming enough rivers, and growing enough biomass to meet global energy demands will wreck the environment.
Sponsored Links (Ads by Google)
Energy Report - Make Money In New Energy Technology Ready to Launch. Get A Free Report www.DailyReckoning.com.au
Top 5 Energy Stocks - Add some Green to your Portfolio. Free Alternative Energy Report. www.RisingStarStocks.com/Energy
The Truth on Oil & Energy - Why Oil's Prognosis Is Terminal & Where the Future Stands: New Report www.EnergyAndCapital.com/PeakOilRpt
Ausubel has analyzed the amount of energy that each so-called renewable source can produce in terms of Watts of power output per square meter of land disturbed. He also compares the destruction of nature by renewables with the demand for space of nuclear power. "Nuclear energy is green," he claims, "Considered in Watts per square meter, nuclear has astronomical advantages over its competitors."
On this basis, he argues that technologies succeed when economies of scale form part of their evolution. No economies of scale benefit renewables. More renewable kilowatts require more land in a constant or even worsening ratio, because land good for wind, hydropower, biomass, or solar power may get used first. A consideration of each so-called renewable in turn, paints a grim picture of the environmental impact of renewables. Hypothetically flooding the entire province of Ontario, Canada, about 900,000 square km, with its entire 680,000 billion liters of rainfall, and storing it behind a 60 meter dam would only generate 80% of the total power output of Canada's 25 nuclear power stations, he explains. Put another way, each square kilometer of dammed land would provide the electricity for just 12 Canadians. Biomass energy is also horribly inefficient and destructive of nature. To power a large proportion of the USA, vast areas would need to be shaved or harvested annually. To obtain the same electricity from biomass as from a single nuclear power plant would require 2500 square kilometers of prime Iowa land. "Increased use of biomass fuel in any form is criminal," remarks Ausubel. "Humans must spare land for nature. Every automobile would require a pasture of 1-2 hectares." Turning to wind Ausubel points out that while wind farms are between three to ten times more compact than a biomass farm, a 770 square kilometer area is needed to produce as much energy as one 1000 Megawatt electric (MWe) nuclear plant. To meet 2005 US electricity demand and assuming round-the-clock wind at the right speed, an area the size of Texas, approximately 780,000 square kilometers, would need to be covered with structures to extract, store, and transport the energy.
Sponsored Links (Ads by Google)
The Electricity Blog Electrical technologies and their applicationwww.leonardo-energy.org/
Renewable Liquid Fuel Green energy for heat and power generation - biomass to Bio Oilwww.dynamotive.com
Wind Turbines Free Power from Wind Turbines 1kw to 250kw full kits from £985www.joliet-europe.com
One hundred windy square meters, a good size for a Manhattan apartment, could power an electric lamp or two, but not the laundry equipment, microwave oven, plasma TV, and computer. New York City would require every square meter of Connecticut to become a wind farm to fully power all its electrical equipment and gadgets. Solar power also comes in for criticism. A photovoltaic solar cell plant would require painting black about than 150 square kilometers plus land for storage and retrieval to equal a 1000 MWe nuclear plant. Moreover, every form of renewable energy involves vast infrastructure, such as concrete, steel, and access roads. "As a Green, one of my credos is 'no new structures' but renewables all involve ten times or more stuff per kilowatt as natural gas or nuclear," Ausubel says. While the full footprint of uranium mining might add a few hundred square kilometers and there are considerations of waste storage, safety and security, the dense heart of the atom offers far the smallest footprint in nature of any energy source. Benefiting from economies of scale, nuclear energy could multiply its power output and even shrink the energy system, in the same way that computers have become both more powerful and smaller. "Renewables may be renewable but they are not green," asserts Ausubel", If we want to minimize new structures and the rape of nature, nuclear energy is the best option." Source: Inderscience Publishers
» Next Article in Space
Toyota develops plug-in hybrid car
By YURI KAGEYAMA, AP Business Writer Wed Jul 25, 1:27 AM ET
TOKYO - Toyota Motor Corp. said Wednesday it has developed a plug-in hybrid vehicle for public road tests in Japan and plans tests for the United States and Europe.
Other major automakers, including General Motors Corp. and Ford Motor Co., are developing plug-in hybrids, a key technology that reduces the gases causing global warming.
Plug-in hybrids, including Toyota's, generally have batteries that power an electric motor, with an internal combustion engine for use when the batteries run low. The batteries can be recharged by plugging them into a standard wall outlet.
The plug-ins run longer on electricity, especially for shorter distances, than the more common hybrids on the roads such as Toyota's Prius.
Toyota is the first manufacturer to receive government approval to conduct tests for a plug-in hybrid on Japanese public roads, it said, and will collect information about the tests from eight plug-in vehicles for the government about emissions and fuel efficiency.
The Toyota executive in charge of technology, Masatami Takimoto, said the approval came Wednesday morning.
Takimoto declined to say when Toyota will bring a plug-in hybrid to market. Innovation in battery technology is needed, he said.
"We still need some time," he said.
The vehicle displayed Wednesday, called Toyota Plug-in HV, runs on the same nickel metal hydride battery as the Prius and has a cruising range of 8 miles on electricity. Takimoto said tests will help in deciding the range consumers want.
Mass production of plug-ins is so far being held back by costs and battery technology that limit the vehicles' range. Manufacturers are racing to bring the technology to market as consumers seek alternatives to traditional engines and high gasoline prices.
Although most automakers are working on hybrids, Toyota has the advantage of 10 years of experience in selling the technology — and 10 years of feedback from drivers on which to base improvements, rather than relying on information from labs.
Toyota has placed a large emphasis on hybrid technology: It offers several hybrid models besides the Prius, including the hybrid Camry and hybrid Lexus models. It has set a target of selling a million hybrids a year sometime after 2010.
The more common hybrids such as the Prius switch between an electric motor and gas engine to deliver better mileage. They don't need to be plugged in to recharge because they recharge the motor as they run, converting energy from the wheels and braking.
Toyota said in June its cumulative sales of hybrids passed 1 million vehicles since it began selling the Prius a decade ago.
Details of its plug-in hybrid tests for the U.S. and Europe are still undecided, Takimoto said.
General Motors is developing the Chevrolet Volt plug-in hybrid, and says it hopes its plug-ins can reach showrooms by 2010.
Earlier this month, Ford announced a partnership with Southern California Edison to test rechargeable hybrid vehicles and hasten mass production of plug-in hybrids. Ford has been testing plug-in hybrids based on the Escape sport-utility vehicle, for one, but has not said when it plans to start mass producing them.
By YURI KAGEYAMA, AP Business Writer Wed Jul 25, 1:27 AM ET
TOKYO - Toyota Motor Corp. said Wednesday it has developed a plug-in hybrid vehicle for public road tests in Japan and plans tests for the United States and Europe.
Other major automakers, including General Motors Corp. and Ford Motor Co., are developing plug-in hybrids, a key technology that reduces the gases causing global warming.
Plug-in hybrids, including Toyota's, generally have batteries that power an electric motor, with an internal combustion engine for use when the batteries run low. The batteries can be recharged by plugging them into a standard wall outlet.
The plug-ins run longer on electricity, especially for shorter distances, than the more common hybrids on the roads such as Toyota's Prius.
Toyota is the first manufacturer to receive government approval to conduct tests for a plug-in hybrid on Japanese public roads, it said, and will collect information about the tests from eight plug-in vehicles for the government about emissions and fuel efficiency.
The Toyota executive in charge of technology, Masatami Takimoto, said the approval came Wednesday morning.
Takimoto declined to say when Toyota will bring a plug-in hybrid to market. Innovation in battery technology is needed, he said.
"We still need some time," he said.
The vehicle displayed Wednesday, called Toyota Plug-in HV, runs on the same nickel metal hydride battery as the Prius and has a cruising range of 8 miles on electricity. Takimoto said tests will help in deciding the range consumers want.
Mass production of plug-ins is so far being held back by costs and battery technology that limit the vehicles' range. Manufacturers are racing to bring the technology to market as consumers seek alternatives to traditional engines and high gasoline prices.
Although most automakers are working on hybrids, Toyota has the advantage of 10 years of experience in selling the technology — and 10 years of feedback from drivers on which to base improvements, rather than relying on information from labs.
Toyota has placed a large emphasis on hybrid technology: It offers several hybrid models besides the Prius, including the hybrid Camry and hybrid Lexus models. It has set a target of selling a million hybrids a year sometime after 2010.
The more common hybrids such as the Prius switch between an electric motor and gas engine to deliver better mileage. They don't need to be plugged in to recharge because they recharge the motor as they run, converting energy from the wheels and braking.
Toyota said in June its cumulative sales of hybrids passed 1 million vehicles since it began selling the Prius a decade ago.
Details of its plug-in hybrid tests for the U.S. and Europe are still undecided, Takimoto said.
General Motors is developing the Chevrolet Volt plug-in hybrid, and says it hopes its plug-ins can reach showrooms by 2010.
Earlier this month, Ford announced a partnership with Southern California Edison to test rechargeable hybrid vehicles and hasten mass production of plug-in hybrids. Ford has been testing plug-in hybrids based on the Escape sport-utility vehicle, for one, but has not said when it plans to start mass producing them.
Aussie uranium 'won't be used for weapons' in India
Posted 4 hours 3 minutes ago Updated 1 hour 10 minutes ago
Federal Resources Minister Ian Macfarlane has guaranteed that any uranium sold to India would not be used in the production of weapons.
Cabinet is expected to consider a submission within weeks to let India buy Australian uranium, but the Federal Opposition is worried about the move because India has not signed the Nuclear Non-Proliferation Treaty.
But Mr Macfarlane says there would be strict checks on the use of the uranium.
"There would be only one way we would sell uranium to India and that would be on the basis that it was only used for the generation of electricity," he said.
"It would be under an inspection regime, and would be done in a way to ensure that while the Indians were able to generate electricity and thus lower their greenhouse gas emissions, that it was done in a way that the uranium was only used to generate electricity."
Federal Treasurer Peter Costello has also told Southern Cross radio the Government will look at the issue very carefully before changing its policy.
"I would want to know that there are very strict safeguards in place before we sold to any country which was outside the Non-Proliferation Treaty," he said.
But Greenpeace says Australia will contribute to regional instability if it sells uranium to India.
Greenpeace spokesman Steve Shallhorn says exporting Australian uranium for energy generation would let India use its own domestic uranium for its illegal weapons program.
"Encouraging other countries to have nuclear weapons in order to make a few bucks is really a very bad idea," he said.
"It is short sighted and it's something that will come back and bite us in the future.
"The border situation between India and Pakistan is unstable at best. Both countries have nuclear weapons."
Tags: nuclear-issues, government-and-politics, federal-government, australia, india
Posted 4 hours 3 minutes ago Updated 1 hour 10 minutes ago
Federal Resources Minister Ian Macfarlane has guaranteed that any uranium sold to India would not be used in the production of weapons.
Cabinet is expected to consider a submission within weeks to let India buy Australian uranium, but the Federal Opposition is worried about the move because India has not signed the Nuclear Non-Proliferation Treaty.
But Mr Macfarlane says there would be strict checks on the use of the uranium.
"There would be only one way we would sell uranium to India and that would be on the basis that it was only used for the generation of electricity," he said.
"It would be under an inspection regime, and would be done in a way to ensure that while the Indians were able to generate electricity and thus lower their greenhouse gas emissions, that it was done in a way that the uranium was only used to generate electricity."
Federal Treasurer Peter Costello has also told Southern Cross radio the Government will look at the issue very carefully before changing its policy.
"I would want to know that there are very strict safeguards in place before we sold to any country which was outside the Non-Proliferation Treaty," he said.
But Greenpeace says Australia will contribute to regional instability if it sells uranium to India.
Greenpeace spokesman Steve Shallhorn says exporting Australian uranium for energy generation would let India use its own domestic uranium for its illegal weapons program.
"Encouraging other countries to have nuclear weapons in order to make a few bucks is really a very bad idea," he said.
"It is short sighted and it's something that will come back and bite us in the future.
"The border situation between India and Pakistan is unstable at best. Both countries have nuclear weapons."
Tags: nuclear-issues, government-and-politics, federal-government, australia, india
Monday, July 23, 2007
AGL boss concerned over carbon trading
The head of Australia's biggest energy retailer is concerned a significant number of companies could be carved out of Australia's mandatory carbon trading scheme.
AGL Energy chief executive Paul Anthony also has questioned the viability of oil and gas producer Santos Ltd's plan to spend $7 billion on a liquefied natural gas plant at Gladstone in Queensland.
Mr Anthony has been an outspoken critic of the federal government's carbon trading agenda.
Last month he expressed his disappointment that a carbon price would not be set by the government until next year, with mandatory trading due to begin in 2012.
Mr Anthony said he had been left puzzled by some other aspects of the government's proposed trading scheme.
"First and foremost, the question we ask ourselves is how much of industry is going to be carved out by having free permits," Mr Anthony told Sky News Sunday Business.
"That leaves the remainder of the industry having to pick up - if you like - the tab for the remainder."
The government's trading scheme, due to go live in 2012, would fail if overall aspirational targets were set too low, permits were set too leniently or permits were given away, Mr Anthony said.
"For the very industry you're trying to control, if they have a free ride in the system, you're not going to get the desired effect in terms of a healthy trading scheme for carbon."
The lack of a carbon price, or the existence of a carbon trading exchange, in Australia has forced companies that want to trade carbon voluntarily, like AGL, to trade on an exchange in Chicago.
Meanwhile, Mr Anthony said Santos's LNG proposal could affect gas prices as a new supplier came on to the market on the eastern seaboard, but he was not totally convinced they would be able to pull off the ambitious project.
"There are two question marks," Mr Anthony said.
"One, can they withstand the capital intensity of building such a very large project given their market cap, and secondly, can they secure sufficient molecules of gas to ever bankroll such a large project."
© 2007 AAPBrought to you by
The head of Australia's biggest energy retailer is concerned a significant number of companies could be carved out of Australia's mandatory carbon trading scheme.
AGL Energy chief executive Paul Anthony also has questioned the viability of oil and gas producer Santos Ltd's plan to spend $7 billion on a liquefied natural gas plant at Gladstone in Queensland.
Mr Anthony has been an outspoken critic of the federal government's carbon trading agenda.
Last month he expressed his disappointment that a carbon price would not be set by the government until next year, with mandatory trading due to begin in 2012.
Mr Anthony said he had been left puzzled by some other aspects of the government's proposed trading scheme.
"First and foremost, the question we ask ourselves is how much of industry is going to be carved out by having free permits," Mr Anthony told Sky News Sunday Business.
"That leaves the remainder of the industry having to pick up - if you like - the tab for the remainder."
The government's trading scheme, due to go live in 2012, would fail if overall aspirational targets were set too low, permits were set too leniently or permits were given away, Mr Anthony said.
"For the very industry you're trying to control, if they have a free ride in the system, you're not going to get the desired effect in terms of a healthy trading scheme for carbon."
The lack of a carbon price, or the existence of a carbon trading exchange, in Australia has forced companies that want to trade carbon voluntarily, like AGL, to trade on an exchange in Chicago.
Meanwhile, Mr Anthony said Santos's LNG proposal could affect gas prices as a new supplier came on to the market on the eastern seaboard, but he was not totally convinced they would be able to pull off the ambitious project.
"There are two question marks," Mr Anthony said.
"One, can they withstand the capital intensity of building such a very large project given their market cap, and secondly, can they secure sufficient molecules of gas to ever bankroll such a large project."
© 2007 AAPBrought to you by
Wednesday, July 18, 2007
Santos to build $7b LNG plant in Qld
July 18, 2007 - 10:59AM
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Energy play Santos Ltd has unveiled plans to build a liquefied natural gas (LNG) plant at Gladstone in Queensland, at a cost of up to $7 billion.
Queensland houses the majority of Australia's coal seam gas resources and a gas supply of 170 to 220 petajoules a year will be sourced from Santos' coal seam gas fields in the state.
"Conceptual engineering and preliminary financial analysis have confirmed that Gladstone LNG will generate acceptable rates of return for shareholders, whilst at the same time providing significant benefits for Queensland in terms of employment and royalties," managing director John Ellice-Flint said.
The proposed LNG facility will use coal seam gas and sell into export markets, with a single processing train of around three to four million tonnes a year.
Half of the investment will be used to build the Gladstone plant, with the rest to be ploughed into Queensland's Bowen and Surat Basins in the east of the state, where Santos holds a number of permits.
Queensland Premier Peter Beattie has awarded the plans significant project status.
Santos must now appoint an engineering contractor to undertake studies, accelerate its exploration and appraisal drilling program to shore up coal seam gas reserves, complete planning and environmental studies and start LNG marketing.
"Santos' coal seam gas reserves and contingent resources currently total over 5,000 petajoules, with significant upside potential," Mr Ellice-Flint said.
"Constructing and operating major onshore gas installations is a core competency for Santos, and we are already involved in the LNG industry by virtue of our interests in Darwin LNG, the most recent greenfield LNG project constructed in Australia."
A final investment decision is expected by the end of 2009, to enable the export of first cargoes in early 2014.
In 2007 Santos will spend around $150 million expanding its coal seam bas business, and subject to the necessary approvals also plans to shell out $200 million in 2008 to progress the Gladstone project.
In February Santos backed away from its $910 million pursuit of smaller rival coal seam gas producer Queensland Gas Company, after Australia's corporate watchdog announced it would oppose the takeover.
At 1321 AEST Wednesday, Santos shares were nine cents higher at $14.09.
© 2007 AAPBrought to you by
Whe
July 18, 2007 - 10:59AM
AdvertisementAdvertisement
Energy play Santos Ltd has unveiled plans to build a liquefied natural gas (LNG) plant at Gladstone in Queensland, at a cost of up to $7 billion.
Queensland houses the majority of Australia's coal seam gas resources and a gas supply of 170 to 220 petajoules a year will be sourced from Santos' coal seam gas fields in the state.
"Conceptual engineering and preliminary financial analysis have confirmed that Gladstone LNG will generate acceptable rates of return for shareholders, whilst at the same time providing significant benefits for Queensland in terms of employment and royalties," managing director John Ellice-Flint said.
The proposed LNG facility will use coal seam gas and sell into export markets, with a single processing train of around three to four million tonnes a year.
Half of the investment will be used to build the Gladstone plant, with the rest to be ploughed into Queensland's Bowen and Surat Basins in the east of the state, where Santos holds a number of permits.
Queensland Premier Peter Beattie has awarded the plans significant project status.
Santos must now appoint an engineering contractor to undertake studies, accelerate its exploration and appraisal drilling program to shore up coal seam gas reserves, complete planning and environmental studies and start LNG marketing.
"Santos' coal seam gas reserves and contingent resources currently total over 5,000 petajoules, with significant upside potential," Mr Ellice-Flint said.
"Constructing and operating major onshore gas installations is a core competency for Santos, and we are already involved in the LNG industry by virtue of our interests in Darwin LNG, the most recent greenfield LNG project constructed in Australia."
A final investment decision is expected by the end of 2009, to enable the export of first cargoes in early 2014.
In 2007 Santos will spend around $150 million expanding its coal seam bas business, and subject to the necessary approvals also plans to shell out $200 million in 2008 to progress the Gladstone project.
In February Santos backed away from its $910 million pursuit of smaller rival coal seam gas producer Queensland Gas Company, after Australia's corporate watchdog announced it would oppose the takeover.
At 1321 AEST Wednesday, Santos shares were nine cents higher at $14.09.
© 2007 AAPBrought to you by
Whe
MEPs signal tough line on car CO2
The industry committee is taking a tougher line than the CommissionThe European Parliament's industry committee has backed proposals to sharply cut CO2 emissions from cars, but failed to specify a deadline.
The committee is the first of several that will be commenting on a European Commission plan for a 20% cut in average car emissions by 2012.
The industry committee called for a bigger cut, of 25%.
It did not support a proposal to give industry longer - until 2015 - to reach the target.
The European Commission is proposing legislation to ensure that the average car sold in 2012 emits no more than 130g of CO2 per kilometre, 32g less than the average car in 2005.
In today's vote, the industry committee called for future legislation to effectively reward best performance in vehicle efficiency
Rebecca Harms MEP
Timeline: Car CO2 crackdown British Liberal Democrat MEP Chris Davies, who has written a report for the environment committee, has suggested a tougher limit of 120g per kilometre, but by 2015 instead of 2012.
The author of the industry committee opinion, German Green MEP Rebecca Harms, said she was pleased its members "supported plans to introduce binding limits for passenger car CO2 emissions and rejected proposals to postpone their introduction to 2015".
However, the committee did not name 2012 or any other year as a deadline for the 120g limit to come into force.
Ms Harms added: "In today's vote, the industry committee called for future legislation to effectively reward best performance in vehicle efficiency and to ensure incentives for reducing greenhouse gas emissions across the vehicle fleet."
The committee confirmed the European Parliament's "earlier position of limits in the order of 80-100g CO2/km in the medium term", she said.
The environment committee will consider Chris Davies' report in September, before a vote in the full parliament in October.
The parliament's economy, transport and internal market committees are all expected to table opinions.
E-mail this to
The industry committee is taking a tougher line than the CommissionThe European Parliament's industry committee has backed proposals to sharply cut CO2 emissions from cars, but failed to specify a deadline.
The committee is the first of several that will be commenting on a European Commission plan for a 20% cut in average car emissions by 2012.
The industry committee called for a bigger cut, of 25%.
It did not support a proposal to give industry longer - until 2015 - to reach the target.
The European Commission is proposing legislation to ensure that the average car sold in 2012 emits no more than 130g of CO2 per kilometre, 32g less than the average car in 2005.
In today's vote, the industry committee called for future legislation to effectively reward best performance in vehicle efficiency
Rebecca Harms MEP
Timeline: Car CO2 crackdown British Liberal Democrat MEP Chris Davies, who has written a report for the environment committee, has suggested a tougher limit of 120g per kilometre, but by 2015 instead of 2012.
The author of the industry committee opinion, German Green MEP Rebecca Harms, said she was pleased its members "supported plans to introduce binding limits for passenger car CO2 emissions and rejected proposals to postpone their introduction to 2015".
However, the committee did not name 2012 or any other year as a deadline for the 120g limit to come into force.
Ms Harms added: "In today's vote, the industry committee called for future legislation to effectively reward best performance in vehicle efficiency and to ensure incentives for reducing greenhouse gas emissions across the vehicle fleet."
The committee confirmed the European Parliament's "earlier position of limits in the order of 80-100g CO2/km in the medium term", she said.
The environment committee will consider Chris Davies' report in September, before a vote in the full parliament in October.
The parliament's economy, transport and internal market committees are all expected to table opinions.
E-mail this to
Decoding mushroom's secrets could combat carbon, find better biofuels, safer soils
Researchers at the University of Warwick are co-ordinating a global effort to sequence the genome of one of the World’s most important mushrooms - Agaricus bisporus. The secrets of its genetic make up could assist the creation of biofuels, support the effort to manage global carbon, and help remove heavy metals from contaminated soils.
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The Agaricus mushroom family are highly efficient ‘secondary decomposers’ of plant material such as leaves and litter –breaking down the material that is too tough for other fungi and bacteria to handle. How exactly it does this, particularly how it degrades tough plant material known as lignin, is not fully understood. By sequencing the full genome of the mushroom, researchers hope to uncover exactly which genes are key to this process. That information will be extremely useful to scientists and engineers looking to maximize the decomposition and transformation of plant material into bio fuels. The mushroom also forms an important model for carbon cycling studies. Carbon is sequestered in soils as plant organic matter. Between 1–2 giga tons of carbon a year are sequestered in pools on land in the temperate and boreal regions of the earth, which represents 15–30% of annual global emissions of carbon from fossil fuels and industrial activities. Understanding the carbon cycling role of these fungi in the forests and other ecosystems is a vital component of optimizing carbon management.
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The Spore Works Exotic mushroom cultures and spores Cultivation gear, gourmet grow kitswww.sporeworks.com
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That however is not the end of the mushrooms talents; several Agaricus species are able to hyper-accumulate toxic metals in soils at a higher level than many other fungi. Understanding how the mushroom does this improves prospects of using such fungi for the bioremediation of contaminated soils. Agaricus bisporus is one of the most widely cultivated mushrooms and the genome research will also benefit growers and consumers through identification of improved quality traits such as disease resistance. The University of Warwick’s horticultural research arm Warwick HRI will co-ordinate provision of genetic materials to the Joint Genome Institute in California for sequencing, will organise analysis of the sequence data and act as curator of the mushroom genome. Agaricus bisporus has around 35 megabases of genetic information coding for an estimated 11,000 genes. The researchers expect to have a 90% complete genome within 3 years. Source: University of Warwick
» Next Article in General
Researchers at the University of Warwick are co-ordinating a global effort to sequence the genome of one of the World’s most important mushrooms - Agaricus bisporus. The secrets of its genetic make up could assist the creation of biofuels, support the effort to manage global carbon, and help remove heavy metals from contaminated soils.
Sponsored Links (Ads by Google)
Questions for the future - What is the true cost of carbon? Asking tomorrow's questions today. www.questionsforthefuture.tv
Fungi Perfecti - Mushrooms - Gourmet & Medicinal We grow 200+ mushroom species www.fungi.com
Top 5 Energy Stocks - Add some Green to your Portfolio. Free Alternative Energy Report. www.RisingStarStocks.com/Energy
The Agaricus mushroom family are highly efficient ‘secondary decomposers’ of plant material such as leaves and litter –breaking down the material that is too tough for other fungi and bacteria to handle. How exactly it does this, particularly how it degrades tough plant material known as lignin, is not fully understood. By sequencing the full genome of the mushroom, researchers hope to uncover exactly which genes are key to this process. That information will be extremely useful to scientists and engineers looking to maximize the decomposition and transformation of plant material into bio fuels. The mushroom also forms an important model for carbon cycling studies. Carbon is sequestered in soils as plant organic matter. Between 1–2 giga tons of carbon a year are sequestered in pools on land in the temperate and boreal regions of the earth, which represents 15–30% of annual global emissions of carbon from fossil fuels and industrial activities. Understanding the carbon cycling role of these fungi in the forests and other ecosystems is a vital component of optimizing carbon management.
Sponsored Links (Ads by Google)
The Spore Works Exotic mushroom cultures and spores Cultivation gear, gourmet grow kitswww.sporeworks.com
Australian Environment News and information about the Australian Environmental Debatewww.plantchange.com.au
Have you been conned by the carbon offsetting myth? NI mag looks at the real solutionswww.newint.com.au
That however is not the end of the mushrooms talents; several Agaricus species are able to hyper-accumulate toxic metals in soils at a higher level than many other fungi. Understanding how the mushroom does this improves prospects of using such fungi for the bioremediation of contaminated soils. Agaricus bisporus is one of the most widely cultivated mushrooms and the genome research will also benefit growers and consumers through identification of improved quality traits such as disease resistance. The University of Warwick’s horticultural research arm Warwick HRI will co-ordinate provision of genetic materials to the Joint Genome Institute in California for sequencing, will organise analysis of the sequence data and act as curator of the mushroom genome. Agaricus bisporus has around 35 megabases of genetic information coding for an estimated 11,000 genes. The researchers expect to have a 90% complete genome within 3 years. Source: University of Warwick
» Next Article in General
SP AusNet still in running for Basslink
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July 17, 2007 - 2:39PM
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SP AusNet is in the running to buy Tasmanian electricity cable the Basslink Interconnector, as it awaits a decision by parent Singapore Power on what Alinta Ltd assets it might be offered.
Power and gas utility SP AusNet on Tuesday confirmed it is interested in acquiring Basslink, which is owned by UK-based National Grid Plc and is expected to have a price tag of more than $1 billion.
SP AusNet managing director Nino Ficca told AAP after the company's annual general meeting in Melbourne that it was involved in the bidding process.
Indicative bids have already been tabled with final bids due at the end of the month.
"We have been involved in that process and it hasn't reached a final conclusion in terms of our particular involvement," Mr Ficca said.
"There are a number of other parties involved from the way we understand it, but don't know exactly who else is involved."
Other possible bidders are believed to include APA Group, formerly the Australian Pipeline Trust, Transfield Services Ltd, Macquarie Bank Ltd, AMP Ltd and ANZ Banking Group Ltd.
Hydro Tasmania and the Tasmanian state government have ruled out making a bid for the asset, which cost around $850 million to build and is the world's longest undersea electricity cable, providing an electricity hookup to the mainland.
Meanwhile, talks continue with SP AusNet's 52 per cent shareholder and parent Singapore Power over what Alinta assets it might be able to pick up.
Singapore Power is part of a Babcock & Brown Ltd-led consortium offering $8.04 billion for Alinta and has previously said it is interested in the target's regulated and contracted assets.
"SP AusNet will be given the opportunity to assess Alinta assets to be acquired by Singapore Power, should they be successful in their bid," Mr Ficca told assembled shareholders.
"We look forward to the opportunity this may provide SP AusNet and we will continue to keep security holders and the market informed as the independent review process progresses."
After the meeting he told AAP that any announcement of a formal offer would likely come after Alinta shareholders gather to vote on the offer on August 15.
"I don't think there's anything likely to be before that, but we'll keep you posted," Mr Ficca said.
"There's been discussions but no formal position yet," he said.
"We'll keep the market posted as we get more information."
Also at the meeting, SP AusNet reiterated that it expects to achieve distribution growth of around 2.5 per cent in fiscal 2008.
"We remain committed to delivering stable, sustainable and predictable distributions to security holders and expect to achieve growth on last years distribution of around two and a half per cent in the coming year," he said.
SP Ausnet in May reported 18 per cent rise in annual net profit from continuing operations to $161.25 million and confirmed a distribution of 11.27 cent for the 2007 fiscal year.
SP AusNet shares closed down 0.5 cents to $1.425.
© 2007 AAPBrought to you by
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July 17, 2007 - 2:39PM
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SP AusNet is in the running to buy Tasmanian electricity cable the Basslink Interconnector, as it awaits a decision by parent Singapore Power on what Alinta Ltd assets it might be offered.
Power and gas utility SP AusNet on Tuesday confirmed it is interested in acquiring Basslink, which is owned by UK-based National Grid Plc and is expected to have a price tag of more than $1 billion.
SP AusNet managing director Nino Ficca told AAP after the company's annual general meeting in Melbourne that it was involved in the bidding process.
Indicative bids have already been tabled with final bids due at the end of the month.
"We have been involved in that process and it hasn't reached a final conclusion in terms of our particular involvement," Mr Ficca said.
"There are a number of other parties involved from the way we understand it, but don't know exactly who else is involved."
Other possible bidders are believed to include APA Group, formerly the Australian Pipeline Trust, Transfield Services Ltd, Macquarie Bank Ltd, AMP Ltd and ANZ Banking Group Ltd.
Hydro Tasmania and the Tasmanian state government have ruled out making a bid for the asset, which cost around $850 million to build and is the world's longest undersea electricity cable, providing an electricity hookup to the mainland.
Meanwhile, talks continue with SP AusNet's 52 per cent shareholder and parent Singapore Power over what Alinta assets it might be able to pick up.
Singapore Power is part of a Babcock & Brown Ltd-led consortium offering $8.04 billion for Alinta and has previously said it is interested in the target's regulated and contracted assets.
"SP AusNet will be given the opportunity to assess Alinta assets to be acquired by Singapore Power, should they be successful in their bid," Mr Ficca told assembled shareholders.
"We look forward to the opportunity this may provide SP AusNet and we will continue to keep security holders and the market informed as the independent review process progresses."
After the meeting he told AAP that any announcement of a formal offer would likely come after Alinta shareholders gather to vote on the offer on August 15.
"I don't think there's anything likely to be before that, but we'll keep you posted," Mr Ficca said.
"There's been discussions but no formal position yet," he said.
"We'll keep the market posted as we get more information."
Also at the meeting, SP AusNet reiterated that it expects to achieve distribution growth of around 2.5 per cent in fiscal 2008.
"We remain committed to delivering stable, sustainable and predictable distributions to security holders and expect to achieve growth on last years distribution of around two and a half per cent in the coming year," he said.
SP Ausnet in May reported 18 per cent rise in annual net profit from continuing operations to $161.25 million and confirmed a distribution of 11.27 cent for the 2007 fiscal year.
SP AusNet shares closed down 0.5 cents to $1.425.
© 2007 AAPBrought to you by
Tuesday, July 17, 2007
Carbon emissions plan needs targets: lobby group
Posted 1 hour 1 minute ago
The Prime Minister says the Govt wants to introduce legislation this year to set-up a process for monitoring greenhouse emissions. (File photo) (Reuters: Tim Wimborne)
Related Story: Howard announces emissions trading system
Related Story: Howard grilled on emissions package at school
Related Story: Bracks backs PM's carbon emissions plan
The Climate Institute of Australia, has welcomed the Federal Government's announcement it will introduce legislation to monitor greenhouse emissions, but says the plan lacks detail.
The Government says it will increase spending on measures to tackle global warming by $627 million.
As part of the scheme, the Government will set-up an emissions regulator to track industry emissions and provide $1,000 to 250,000 to households to help install solar water heating.
Prime Minister John Howard says the Government wants to introduce legislation this year to set-up a process for monitoring greenhouse emissions.
But, the Climate Institute's director of policy and research, Erwin Jackson, says while the scheme is on the right track, it is useless without specific targets.
He says what is needed are clear and transparent plans from both sides of politics, outlining their respective policies on lowering greenhouse emissions.
"You can't have an emissions trading system without a cap on emissions, it's like giving someone a credit card without telling them what the limit is," he said.
"You need to know, industry needs to know, where it's going, the environment needs to see significant reductions in emissions and the only way you achieve that is by setting a cap in the short-term."
The Australian Conservation Foundation (ACF) also says the Commonwealth must set a target immediately.
Tags: environment, climate-change, government-and-politics, federal-government, australia
Posted 1 hour 1 minute ago
The Prime Minister says the Govt wants to introduce legislation this year to set-up a process for monitoring greenhouse emissions. (File photo) (Reuters: Tim Wimborne)
Related Story: Howard announces emissions trading system
Related Story: Howard grilled on emissions package at school
Related Story: Bracks backs PM's carbon emissions plan
The Climate Institute of Australia, has welcomed the Federal Government's announcement it will introduce legislation to monitor greenhouse emissions, but says the plan lacks detail.
The Government says it will increase spending on measures to tackle global warming by $627 million.
As part of the scheme, the Government will set-up an emissions regulator to track industry emissions and provide $1,000 to 250,000 to households to help install solar water heating.
Prime Minister John Howard says the Government wants to introduce legislation this year to set-up a process for monitoring greenhouse emissions.
But, the Climate Institute's director of policy and research, Erwin Jackson, says while the scheme is on the right track, it is useless without specific targets.
He says what is needed are clear and transparent plans from both sides of politics, outlining their respective policies on lowering greenhouse emissions.
"You can't have an emissions trading system without a cap on emissions, it's like giving someone a credit card without telling them what the limit is," he said.
"You need to know, industry needs to know, where it's going, the environment needs to see significant reductions in emissions and the only way you achieve that is by setting a cap in the short-term."
The Australian Conservation Foundation (ACF) also says the Commonwealth must set a target immediately.
Tags: environment, climate-change, government-and-politics, federal-government, australia
Monday, July 16, 2007
Clean fuels 'lift refinery emissions'
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Nigel Wilson, Energy writer July 14, 2007
CALTEX has warned that producing cleaner and more efficient transport fuels will require more energy -- and therefore increased greenhouse gas emissions from its refineries.
Australia's leading oil refiner and marketer will also tell the federal Government it must recognise the financial risk that a cap-and-trade emissions scheme would place on the upstream oil business.
Caltex managing director Des King told The Australian the Government should not disadvantage "early movers" in Australian industry, and should recognise previous efforts to reduce greenhouse gas emissions.
This included the development of clean fuels in reducing emissions from the use of petroleum products.
Caltex emits about two million tonnes of carbon dioxide a year, most of it from its two refineries in Sydney and Brisbane.
Mr King said Australians should be encouraged to buy more efficient motor vehicles, probably through higher fuel taxes.
Any emissions scheme had to be part of a set of measures to tackle climate change that was consistent and co-ordinated throughout Australia, and avoided economic distortions resulting from overlapping state and federal schemes, he said.
He said the government should take a holistic view of emissions from oil refining, recognising that refining emissions might have to increase in order to produce fuels that allowed lower emissions from vehicles -- so that greenhouse gas emissions were decreased overall.
Caltex argues that deep cuts in greenhouse gas emissions will require vehicles that emit much less carbon dioxide for each kilometre travelled.
While diesel vehicles emit about 15 per cent less carbon dioxide for each kilometre travelled, their pollution control equipment requires diesel fuel with very low sulphur levels, implying higher refinery costs.
In a letter being sent to all federal and state parliamentarians, Mr King says Caltex accepts that carbon pricing should be in the form of emissions trading for industrial emissions, and that its business costs will increase.
"We are concerned about loss of international competitiveness against Asian refineries, which are the source of most imported petroleum products," he says.
"These refineries are unlikely to bear any carbon costs in their emissions for many years. Until then, government policy will need to protect the competitiveness of Australia's energy-intensive, trade-exposed industries."
He says more than a quarter of Australia's petroleum products are imported, mainly from Singapore, which will not face carbon pricing until long after Australia does.
Mr King came to Caltex in Australia last year after running Chevron's Penbroke refinery in Wales and being exposed to the European Union's controversial emissions trading scheme. He said the volatility of such schemes made them inappropriate for the retail end of the oil business, though they were suitable for refinery operations.
Caltex has spent $250 million on its refineries to produce low-sulphur diesel, as required by the federal Government to meet new standards in 2009, and it is the biggest supplier of fuels blended with ethanol.
Mr King said the government had to
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Print Page: Print
Nigel Wilson, Energy writer July 14, 2007
CALTEX has warned that producing cleaner and more efficient transport fuels will require more energy -- and therefore increased greenhouse gas emissions from its refineries.
Australia's leading oil refiner and marketer will also tell the federal Government it must recognise the financial risk that a cap-and-trade emissions scheme would place on the upstream oil business.
Caltex managing director Des King told The Australian the Government should not disadvantage "early movers" in Australian industry, and should recognise previous efforts to reduce greenhouse gas emissions.
This included the development of clean fuels in reducing emissions from the use of petroleum products.
Caltex emits about two million tonnes of carbon dioxide a year, most of it from its two refineries in Sydney and Brisbane.
Mr King said Australians should be encouraged to buy more efficient motor vehicles, probably through higher fuel taxes.
Any emissions scheme had to be part of a set of measures to tackle climate change that was consistent and co-ordinated throughout Australia, and avoided economic distortions resulting from overlapping state and federal schemes, he said.
He said the government should take a holistic view of emissions from oil refining, recognising that refining emissions might have to increase in order to produce fuels that allowed lower emissions from vehicles -- so that greenhouse gas emissions were decreased overall.
Caltex argues that deep cuts in greenhouse gas emissions will require vehicles that emit much less carbon dioxide for each kilometre travelled.
While diesel vehicles emit about 15 per cent less carbon dioxide for each kilometre travelled, their pollution control equipment requires diesel fuel with very low sulphur levels, implying higher refinery costs.
In a letter being sent to all federal and state parliamentarians, Mr King says Caltex accepts that carbon pricing should be in the form of emissions trading for industrial emissions, and that its business costs will increase.
"We are concerned about loss of international competitiveness against Asian refineries, which are the source of most imported petroleum products," he says.
"These refineries are unlikely to bear any carbon costs in their emissions for many years. Until then, government policy will need to protect the competitiveness of Australia's energy-intensive, trade-exposed industries."
He says more than a quarter of Australia's petroleum products are imported, mainly from Singapore, which will not face carbon pricing until long after Australia does.
Mr King came to Caltex in Australia last year after running Chevron's Penbroke refinery in Wales and being exposed to the European Union's controversial emissions trading scheme. He said the volatility of such schemes made them inappropriate for the retail end of the oil business, though they were suitable for refinery operations.
Caltex has spent $250 million on its refineries to produce low-sulphur diesel, as required by the federal Government to meet new standards in 2009, and it is the biggest supplier of fuels blended with ethanol.
Mr King said the government had to
US, China to get unique climate change chance at summit: Australia
SYDNEY (AFP) - The world's two biggest polluters, the US and China, will have an unprecedented chance to thrash out action on climate change at an upcoming summit in Australia, Prime Minister John Howard said Sunday.
;
US President George W. Bush and Chinese President Hu Jintao will be among 21 leaders at the Asia-Pacific Economic Cooperation (APEC) forum in Sydney in September, where global warming is expected to be high on the agenda.
"This will be the first and best opportunity for the two largest polluters in the world -- the United States and China -- to come together," Howard told reporters.
"At a lot of these other meetings, the Americans and the Chinese aren't sitting down together, except as part of the enormous concourse of everybody in the United Nations' ambit."
Howard said he expected there would be "a very significant discussion about climate
SYDNEY (AFP) - The world's two biggest polluters, the US and China, will have an unprecedented chance to thrash out action on climate change at an upcoming summit in Australia, Prime Minister John Howard said Sunday.
;
US President George W. Bush and Chinese President Hu Jintao will be among 21 leaders at the Asia-Pacific Economic Cooperation (APEC) forum in Sydney in September, where global warming is expected to be high on the agenda.
"This will be the first and best opportunity for the two largest polluters in the world -- the United States and China -- to come together," Howard told reporters.
"At a lot of these other meetings, the Americans and the Chinese aren't sitting down together, except as part of the enormous concourse of everybody in the United Nations' ambit."
Howard said he expected there would be "a very significant discussion about climate
Solar benefit heats up debate
ALAN Moran displays either significant ignorance or deliberate deception in his opinion piece (BusinessDay, 10/7). In claiming solar electricity is the "least valuable" form of electricity, he misses or avoids several critical points.
First, the value of electricity in the national market is based on the time of generation, and how this matches demand.
Peak demand typically occurs during hot summer afternoons, at the very times when solar photovoltaic systems are producing their maximum output. Hence, solar power is worth significantly more to the network than is recognised, and the proposed Energy Legislation Amendment Act goes some way to tackling this.
Further, by being generated close to the point of consumption, rather than a power station, roof-top solar avoids the need for more poles and wires.
Fewer poles and wires over less distance means less transmission loss and significant savings to the customer.
It is the customer who pays for these networks in their bill, and with $24 billion committed to network augmentation in the next five years, it will be costly. Providing incentives for decentralised energy could avoid significant amounts of network investment.
Financial incentives in Germany — which installed 1000 times the solar capacity of Australia — is responsible for less than 3 per cent of the average electricity bill. Despite this extensive uptake of solar, as a response to the incentives, German electricity bills have fallen in the seven years since they were introduced due to the savings across the network.
It is also disingenuous for Moran to speak of subsidies for solar without mentioning coal subsidies. A University of Technology Sydney report puts fossil fuel subsidies at more than $9 billion a year. Renewable energy receives a little more than $325 million, or less than 3 per cent.
The greatest subsidy to coal energy is the lack of accounting for the environmental cost of greenhouse gas and other pollution.
With no existing mechanism for accounting the economic, social and environmental costs of climate change, renewable energy subsidies are the only practical way to allow clean forms of energy to compete with polluting fossil fuels.
Brad Shone, energy policymanager, Alternative Technology Association
Consider alternativesROSS Gittins' "… but parties close on climate change" article (BusinessDay, 10/7) implies there is little difference between Labor and Coalition policies. The major difference, which Gittins does not mention, is plans to generate power using nuclear sources.
Labor has no
ALAN Moran displays either significant ignorance or deliberate deception in his opinion piece (BusinessDay, 10/7). In claiming solar electricity is the "least valuable" form of electricity, he misses or avoids several critical points.
First, the value of electricity in the national market is based on the time of generation, and how this matches demand.
Peak demand typically occurs during hot summer afternoons, at the very times when solar photovoltaic systems are producing their maximum output. Hence, solar power is worth significantly more to the network than is recognised, and the proposed Energy Legislation Amendment Act goes some way to tackling this.
Further, by being generated close to the point of consumption, rather than a power station, roof-top solar avoids the need for more poles and wires.
Fewer poles and wires over less distance means less transmission loss and significant savings to the customer.
It is the customer who pays for these networks in their bill, and with $24 billion committed to network augmentation in the next five years, it will be costly. Providing incentives for decentralised energy could avoid significant amounts of network investment.
Financial incentives in Germany — which installed 1000 times the solar capacity of Australia — is responsible for less than 3 per cent of the average electricity bill. Despite this extensive uptake of solar, as a response to the incentives, German electricity bills have fallen in the seven years since they were introduced due to the savings across the network.
It is also disingenuous for Moran to speak of subsidies for solar without mentioning coal subsidies. A University of Technology Sydney report puts fossil fuel subsidies at more than $9 billion a year. Renewable energy receives a little more than $325 million, or less than 3 per cent.
The greatest subsidy to coal energy is the lack of accounting for the environmental cost of greenhouse gas and other pollution.
With no existing mechanism for accounting the economic, social and environmental costs of climate change, renewable energy subsidies are the only practical way to allow clean forms of energy to compete with polluting fossil fuels.
Brad Shone, energy policymanager, Alternative Technology Association
Consider alternativesROSS Gittins' "… but parties close on climate change" article (BusinessDay, 10/7) implies there is little difference between Labor and Coalition policies. The major difference, which Gittins does not mention, is plans to generate power using nuclear sources.
Labor has no
Row over plan to build coal power plant
Juliette Jowit, environment editorSunday July 15, 2007The Observer
A decision is expected within weeks about whether Britain is to build the first coal-fired power station for more than 20 years - potentially unleashing a new generation of coal power.
Planning officials are considering an application from Eon to build a new coal-fired station in Kent, which could supply 1.5 million homes. The decision is being watched by power companies considering at least three more coal-fired projects, and government officials forecast up to eight could be built by 2020.
Juliette Jowit, environment editorSunday July 15, 2007The Observer
A decision is expected within weeks about whether Britain is to build the first coal-fired power station for more than 20 years - potentially unleashing a new generation of coal power.
Planning officials are considering an application from Eon to build a new coal-fired station in Kent, which could supply 1.5 million homes. The decision is being watched by power companies considering at least three more coal-fired projects, and government officials forecast up to eight could be built by 2020.
Finishing touch to network
ENERGY company AGL Energy has secured a deal with Epic Energy that will allow building of a $140 million gas pipeline.
The deal with complete the network linking gas markets in the eastern half of Australia.
The proposed 180km pipeline – the QSN Link – will take gas from Queensland to the Moomba-Adelaide and Moomba-Sydney pipelines.
AGL managing director Paul Anthony said it would create the final link to form an interconnected eastern Australia pipeline network as well as delivering gas into AGL's wholesale gas hub at Moomba at prices below existing contract levels.
"This link is strategically important in monetising and delivering the coal-seam methane AGL acquired with our recent upstream gas investment in, and gas contract with, Queensland Gas Company," he said.
The pipeline will carry up to 390 petajoules of natural gas along the Wallumbilla-to-Moomba corridor over 15 years from January 2009.
Epic Energy, the owner and operator of the Pilbara energy pipeline in Western Australia and the South-West Queensland pipeline, would build, own and operate the QSN Link and new compression facilities.
A spokesman for Adelaide's Santos, Australia's biggest gas producer, welcomed the announcement.
"There'll be more gas flowing in and around Moomba," he said. "This will increase the `optionalities' for supply and distribution.
"From South Australia's perspective, it will enhance the security of gas supply."
Santos is currently the subject of a State Government inquiry into whether a 15 per cent limit on any one holding of its shares should be lifted. One of the reasons for the share cap being imposed in 1979 was to ensure security of supply to SA.
The state's vulnerability already has been eased by the SeaGas line from Victoria and the Queensland link will further reduce reliance on Moomba.
An analyst, who declined to be named, said the deal could be negative for Santos by taking "pricing pressures out of the Cooper Basin".
"But they have seen this coming for a long time, so I don't think it will be a big problem," the analyst said.
AGL's Mr Anthony said the agreement would introduce new competitive sources of gas into the NSW, southern Australia and Mt Isa gas markets.
"It will support core upstream and downstream gas projects we are working on at the moment and is a further demonstration of the company's focused delivery of its strategic growth," he said.
The pipeline was possible following recent investments by AGL. They include buying a 27.6 per cent stake in QGC in conjunction with entering into a 20-year gas contract after the acquisition of Adelaide's 1280-megawatt gas-fired Torrens Island power station from TRUenergy.
Construction is due to end by December, 2008.
ENERGY company AGL Energy has secured a deal with Epic Energy that will allow building of a $140 million gas pipeline.
The deal with complete the network linking gas markets in the eastern half of Australia.
The proposed 180km pipeline – the QSN Link – will take gas from Queensland to the Moomba-Adelaide and Moomba-Sydney pipelines.
AGL managing director Paul Anthony said it would create the final link to form an interconnected eastern Australia pipeline network as well as delivering gas into AGL's wholesale gas hub at Moomba at prices below existing contract levels.
"This link is strategically important in monetising and delivering the coal-seam methane AGL acquired with our recent upstream gas investment in, and gas contract with, Queensland Gas Company," he said.
The pipeline will carry up to 390 petajoules of natural gas along the Wallumbilla-to-Moomba corridor over 15 years from January 2009.
Epic Energy, the owner and operator of the Pilbara energy pipeline in Western Australia and the South-West Queensland pipeline, would build, own and operate the QSN Link and new compression facilities.
A spokesman for Adelaide's Santos, Australia's biggest gas producer, welcomed the announcement.
"There'll be more gas flowing in and around Moomba," he said. "This will increase the `optionalities' for supply and distribution.
"From South Australia's perspective, it will enhance the security of gas supply."
Santos is currently the subject of a State Government inquiry into whether a 15 per cent limit on any one holding of its shares should be lifted. One of the reasons for the share cap being imposed in 1979 was to ensure security of supply to SA.
The state's vulnerability already has been eased by the SeaGas line from Victoria and the Queensland link will further reduce reliance on Moomba.
An analyst, who declined to be named, said the deal could be negative for Santos by taking "pricing pressures out of the Cooper Basin".
"But they have seen this coming for a long time, so I don't think it will be a big problem," the analyst said.
AGL's Mr Anthony said the agreement would introduce new competitive sources of gas into the NSW, southern Australia and Mt Isa gas markets.
"It will support core upstream and downstream gas projects we are working on at the moment and is a further demonstration of the company's focused delivery of its strategic growth," he said.
The pipeline was possible following recent investments by AGL. They include buying a 27.6 per cent stake in QGC in conjunction with entering into a 20-year gas contract after the acquisition of Adelaide's 1280-megawatt gas-fired Torrens Island power station from TRUenergy.
Construction is due to end by December, 2008.
Tuesday, July 10, 2007
IEA sees oil supply crunch looming
LONDON (Reuters) - World oil demand will rise faster than expected to 2012 while production lags, leading to a supply crunch, the International Energy Agency said on Monday.
In its Medium-Term Oil Market Report, the adviser to 26 industrialized countries said demand will rise by an average 2.2 percent a year between 2007 and 2012, up from a previous medium-term forecast of 2 percent.
The outlook, which updates an IEA forecast last issued in February, coincides with a jump in oil prices to more than $75 a barrel, closing in on a record high near $79, on concerns of a tightening market.
"Despite four years of high oil prices, this report sees increasing market tightness beyond 2010," the IEA said.
"It is possible that the supply crunch could be deferred -- but not by much."
The IEA's previous Medium-Term report called for world demand growth of 2 percent a year between 2006 and 2011.
It now expects global demand to reach 95.8 million barrels per day (bpd) from 86.1 million bpd in 2007. The forecast assumes average global GDP growth of 4.5 percent annually.
"The results of our analysis are quite strong," said Lawrence Eagles, head of the IEA's Oil Industry and Markets Division. "Something needs to happen."
"Either we need to have more supplies coming on stream or we need to have lower demand growth."
The Paris-based IEA also said additional global refining capacity over the next five years will lag earlier expectations as rising costs and a shortage of engineers delay construction.
It said world production of biofuels would reach 1.75 million bpd by 2012, more than double 2006 levels, but the fuel will remain marginal as economics hobble further growth.
LOWER OPEC CAPACITY
Oil prices pared an earlier loss after the report was released. Brent crude was unchanged at $75.62 a barrel as of 1247 GMT.
The report points to a greater reliance on the Organization of the Petroleum Exporting Countries, source of more than a third of the world's oil.
While foreseeing higher demand, the IEA expects less supply to come from producers outside OPEC and the agency also trimmed a forecast for the 12-member group's unused production capacity.
"A stronger demand outlook, together with project slippage and geopolitical problems has led to downward revisions of OPEC spare capacity by 2 million bpd in 2009," said the report.
The forecast assumes no net expansion of capacity from Iran, Iraq and Venezuela and that the 500,000 bpd of Nigerian production that has been shut for a year will not reopen during the next five years.
Ten OPEC members began cutting production last year to stem a drop in prices. The IEA in its Monthly Oil Market Report has for the past four months urged OPEC to open the taps to avoid over-tightening the market.
Some analysts say the agency is being alarmist and that its warnings about supplies are actually leading to higher prices.
"The International Energy Agency has put such a fear premium in the market that crude futures remain bought no matter what," said Olivier Jakob of Petromatrix.
The IEA said fundamentals of supply and demand are prompting price gains.
"The simple thing is we are there to project the market as we see it," Eagles said. "The price response is due to fundamentals. We are simply pointing out the fundamentals. That's our job."
PLATEAU OIL
The IEA trimmed its forecast for supply from non-OPEC producers by 800,000 bpd in 2011, partly because of project delays, and touched on the thorny subject that oil supplies are nearing a peak.
"Certainly our forecast suggests that the non-OPEC, conventional crude component of global production appears, for now, to have reached an effective plateau, rather than a peak," the report said.
Falling output at ageing fields and setbacks such as 2005's hurricanes in the Gulf of Mexico have slowed growth in non-OPEC output in recent years.
Lower supply from non-OPEC countries and rising demand will boost the requirement for OPEC oil.
The IEA said demand for OPEC crude, or the call on OPEC, will rise to 34.7 million bpd in 2011, up 1.3 million bpd from the previous projection.
LONDON (Reuters) - World oil demand will rise faster than expected to 2012 while production lags, leading to a supply crunch, the International Energy Agency said on Monday.
In its Medium-Term Oil Market Report, the adviser to 26 industrialized countries said demand will rise by an average 2.2 percent a year between 2007 and 2012, up from a previous medium-term forecast of 2 percent.
The outlook, which updates an IEA forecast last issued in February, coincides with a jump in oil prices to more than $75 a barrel, closing in on a record high near $79, on concerns of a tightening market.
"Despite four years of high oil prices, this report sees increasing market tightness beyond 2010," the IEA said.
"It is possible that the supply crunch could be deferred -- but not by much."
The IEA's previous Medium-Term report called for world demand growth of 2 percent a year between 2006 and 2011.
It now expects global demand to reach 95.8 million barrels per day (bpd) from 86.1 million bpd in 2007. The forecast assumes average global GDP growth of 4.5 percent annually.
"The results of our analysis are quite strong," said Lawrence Eagles, head of the IEA's Oil Industry and Markets Division. "Something needs to happen."
"Either we need to have more supplies coming on stream or we need to have lower demand growth."
The Paris-based IEA also said additional global refining capacity over the next five years will lag earlier expectations as rising costs and a shortage of engineers delay construction.
It said world production of biofuels would reach 1.75 million bpd by 2012, more than double 2006 levels, but the fuel will remain marginal as economics hobble further growth.
LOWER OPEC CAPACITY
Oil prices pared an earlier loss after the report was released. Brent crude was unchanged at $75.62 a barrel as of 1247 GMT.
The report points to a greater reliance on the Organization of the Petroleum Exporting Countries, source of more than a third of the world's oil.
While foreseeing higher demand, the IEA expects less supply to come from producers outside OPEC and the agency also trimmed a forecast for the 12-member group's unused production capacity.
"A stronger demand outlook, together with project slippage and geopolitical problems has led to downward revisions of OPEC spare capacity by 2 million bpd in 2009," said the report.
The forecast assumes no net expansion of capacity from Iran, Iraq and Venezuela and that the 500,000 bpd of Nigerian production that has been shut for a year will not reopen during the next five years.
Ten OPEC members began cutting production last year to stem a drop in prices. The IEA in its Monthly Oil Market Report has for the past four months urged OPEC to open the taps to avoid over-tightening the market.
Some analysts say the agency is being alarmist and that its warnings about supplies are actually leading to higher prices.
"The International Energy Agency has put such a fear premium in the market that crude futures remain bought no matter what," said Olivier Jakob of Petromatrix.
The IEA said fundamentals of supply and demand are prompting price gains.
"The simple thing is we are there to project the market as we see it," Eagles said. "The price response is due to fundamentals. We are simply pointing out the fundamentals. That's our job."
PLATEAU OIL
The IEA trimmed its forecast for supply from non-OPEC producers by 800,000 bpd in 2011, partly because of project delays, and touched on the thorny subject that oil supplies are nearing a peak.
"Certainly our forecast suggests that the non-OPEC, conventional crude component of global production appears, for now, to have reached an effective plateau, rather than a peak," the report said.
Falling output at ageing fields and setbacks such as 2005's hurricanes in the Gulf of Mexico have slowed growth in non-OPEC output in recent years.
Lower supply from non-OPEC countries and rising demand will boost the requirement for OPEC oil.
The IEA said demand for OPEC crude, or the call on OPEC, will rise to 34.7 million bpd in 2011, up 1.3 million bpd from the previous projection.
Nanocrystals Key to Better Fuel Cells
A new way to make cubic zirconia with very small crystal sizes could be key to making hydrogen fuel cells more reliable and cost-effective.
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The invention by a team led by Zuhair Munir, distinguished professor of chemical engineering and materials science at UC Davis, was recently included in Nanotech Briefs magazine's Nano50 awards for 2007. The awards recognize technologies, products and people most likely to impact the state of the art in nanotechnology. Fuel cells combine hydrogen fuel and oxygen from the air to release energy, leaving only water as a waste product. Fuel cells could be an alternative power source for vehicles and other uses, but there are significant challenges to their widespread use. Current fuel cells run at temperatures of 1,500 to 1,800 degrees F (800 to 1,000 degrees C). Just reaching working temperature requires energy, and the heat quickly wears out metal, plastic and ceramic components. Prevailing fuel-cell designs also require an expensive platinum catalyst. The new technology could allow fuel cells to run at much lower temperatures, 122 to 212 degrees F (50 to 100 degrees C).
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Munir, Umberto Anselmi-Tamburini and Sangtae Kim at UC Davis invented a method to make oxides such as cubic zirconia (zirconium oxide) with extremely small grain sizes, on the order of 15 nanometers. A nanometer is one-billionth of a meter, or the size of a few atoms. At that scale, the crystals conduct electricity very well, through the movement of protons. The material could be used in fuel cells that are based on chemical oxides. Munir was also recipient of the 2007 UC Davis Prize for Undergraduate Teaching and Scholarly Achievement. The prize includes a cash award of $35,000, thought to be the largest of its kind in the nation. A patent application has been filed for the technology. A paper describing the technique was published in the journal Applied Physics Letters last year. The Nano50 awards will be presented during the National Nano Engineering Conference in Boston, Nov. 14 and 15, 2007. Source: University of California - Davis
» Next Article in Nanotechnology - Materials: Nano Wagon Wheels
A new way to make cubic zirconia with very small crystal sizes could be key to making hydrogen fuel cells more reliable and cost-effective.
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Trading ASX Shares? - The one share to own in 2007 300% gains possible - free report www.PortPhillipResearch.com.au
Top 5 Energy Stocks - Add some Green to your Portfolio. Free Alternative Energy Report. www.RisingStarStocks.com/Energy
Convert a Hydrogen Engine - Your Car Engine On Hydrogen & More See It, H2 Car Video Download Now HydrogenFuelCarEnginePlans.com
The invention by a team led by Zuhair Munir, distinguished professor of chemical engineering and materials science at UC Davis, was recently included in Nanotech Briefs magazine's Nano50 awards for 2007. The awards recognize technologies, products and people most likely to impact the state of the art in nanotechnology. Fuel cells combine hydrogen fuel and oxygen from the air to release energy, leaving only water as a waste product. Fuel cells could be an alternative power source for vehicles and other uses, but there are significant challenges to their widespread use. Current fuel cells run at temperatures of 1,500 to 1,800 degrees F (800 to 1,000 degrees C). Just reaching working temperature requires energy, and the heat quickly wears out metal, plastic and ceramic components. Prevailing fuel-cell designs also require an expensive platinum catalyst. The new technology could allow fuel cells to run at much lower temperatures, 122 to 212 degrees F (50 to 100 degrees C).
Sponsored Links (Ads by Google)
The Next Oil Boom See who's pumping cash by making oil for $13.21. And selling for $59www.investmentu.com
S-Series Fuel Cells Cellkraft fuel cells Power range: 50-2000 Wwww.cellkraft.se
Nanotechnology Now Nanotech's Future Is Now. Learn How To Profit in this Free Research Rptwww.QuantumInvestor.com/NanotechRpt
Munir, Umberto Anselmi-Tamburini and Sangtae Kim at UC Davis invented a method to make oxides such as cubic zirconia (zirconium oxide) with extremely small grain sizes, on the order of 15 nanometers. A nanometer is one-billionth of a meter, or the size of a few atoms. At that scale, the crystals conduct electricity very well, through the movement of protons. The material could be used in fuel cells that are based on chemical oxides. Munir was also recipient of the 2007 UC Davis Prize for Undergraduate Teaching and Scholarly Achievement. The prize includes a cash award of $35,000, thought to be the largest of its kind in the nation. A patent application has been filed for the technology. A paper describing the technique was published in the journal Applied Physics Letters last year. The Nano50 awards will be presented during the National Nano Engineering Conference in Boston, Nov. 14 and 15, 2007. Source: University of California - Davis
» Next Article in Nanotechnology - Materials: Nano Wagon Wheels
Gazprom in gas project climbdown
The Barents Sea holds about a quarter of the world's gas reservesRussian gas monopoly Gazprom has said it is close to pairing with foreign firms to start developing the world's largest offshore gas field.
The comments made by one of the firm's top executives, Alexander Medvedev, mark a dramatic U-turn from its tough stance last year.
Last October, Gazprom said it alone would exploit the untapped Shtokman gas reserves in the Barents Sea.
Signing a deal would be a major boost for any of the overseas firms involved.
Norway's Statoil and Hydro, Conoco Phillips and Chevron in the US and France's Total had all been shortlisted as potential members of a consortium to start pumping gas from the strategically-crucial Shtokman field on the ice-free Kola peninsula.
But Gazprom dealt them all a huge blow last October when its chief executive Alexey Miller said Gazprom would take control of 100% of the resources.
'Project complexities'
The 1,400 square kilometre field has the potential to become the world's largest offshore gas field with 3.2 trillion cubic metres of gas contained in reservoirs two kilometres below the seabed - itself at a depth of 350 metres.
The cost of the operation has been estimated at between $20bn (£9.9bn) and $30bn which Gazprom would have to foot if it decided to go it alone.
Gazprom could open the Shtokman gas field to foreign partners
Mr Medvedev said Gazprom was in talks with foreign companies to allow them to "share in the economic benefits of the project, share the management and take on a share of the industrial, commercial and financial risks".
This would be through overseas companies taking a stake in the company created to operate Shtokman, while Gazprom will retain control of the license to the field.
Observers point to the complexities of the project - including freezing weather conditions, icebergs, and lack of infrastructure to transport the gas to market - for Gazprom's shift in tone.
A Gazprom spokesman also pointed to the company's concern about the potential for operating costs to spiral, saying: "We can't afford to take those financial risks."
Norway's Statoil, a key contender in the battle for partnership with Gazprom, told the BBC that it had enjoyed "good relations" with the Russian firm for some time, but refused to comment on the development.
Separately, Gazprom has also revived plans to construct liquid natural gas plants 555 kilometres away from Shtokman in the ice-free port of Murmansk, possibly to be exported by super-tankers to the US.
This also signals a change of intention from last year's suggestions that the bulk of its gas output would be sent to Germany and the rest of the European Union through the northern European Pipeline across the Baltic Sea.
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The Barents Sea holds about a quarter of the world's gas reservesRussian gas monopoly Gazprom has said it is close to pairing with foreign firms to start developing the world's largest offshore gas field.
The comments made by one of the firm's top executives, Alexander Medvedev, mark a dramatic U-turn from its tough stance last year.
Last October, Gazprom said it alone would exploit the untapped Shtokman gas reserves in the Barents Sea.
Signing a deal would be a major boost for any of the overseas firms involved.
Norway's Statoil and Hydro, Conoco Phillips and Chevron in the US and France's Total had all been shortlisted as potential members of a consortium to start pumping gas from the strategically-crucial Shtokman field on the ice-free Kola peninsula.
But Gazprom dealt them all a huge blow last October when its chief executive Alexey Miller said Gazprom would take control of 100% of the resources.
'Project complexities'
The 1,400 square kilometre field has the potential to become the world's largest offshore gas field with 3.2 trillion cubic metres of gas contained in reservoirs two kilometres below the seabed - itself at a depth of 350 metres.
The cost of the operation has been estimated at between $20bn (£9.9bn) and $30bn which Gazprom would have to foot if it decided to go it alone.
Gazprom could open the Shtokman gas field to foreign partners
Mr Medvedev said Gazprom was in talks with foreign companies to allow them to "share in the economic benefits of the project, share the management and take on a share of the industrial, commercial and financial risks".
This would be through overseas companies taking a stake in the company created to operate Shtokman, while Gazprom will retain control of the license to the field.
Observers point to the complexities of the project - including freezing weather conditions, icebergs, and lack of infrastructure to transport the gas to market - for Gazprom's shift in tone.
A Gazprom spokesman also pointed to the company's concern about the potential for operating costs to spiral, saying: "We can't afford to take those financial risks."
Norway's Statoil, a key contender in the battle for partnership with Gazprom, told the BBC that it had enjoyed "good relations" with the Russian firm for some time, but refused to comment on the development.
Separately, Gazprom has also revived plans to construct liquid natural gas plants 555 kilometres away from Shtokman in the ice-free port of Murmansk, possibly to be exported by super-tankers to the US.
This also signals a change of intention from last year's suggestions that the bulk of its gas output would be sent to Germany and the rest of the European Union through the northern European Pipeline across the Baltic Sea.
Brazil president defends ethanol boom
RIO DE JANEIRO, Brazil - Brazil's president said Monday that his nation's booming ethanol business won't hurt the Amazon rain forest, dismissing criticism that increased production of the alternate fuel could lead to deforestation.
Silva, referring to concerns raised during his European visit last week, said it is unjustified to think that increased production of sugar cane for ethanol could prompt more jungle clearing.
He said that Amazon weather conditions aren't favorable for the sugar cane used to produce ethanol and suggested critics are trying to prevent Brazil from advancing economically by taking advantage of rising demand for biofuels.
"The Portuguese discovered a long time ago that the Amazon isn't a place to plant cane," Silva said, and added, "The cartel of the world's powerful is trying to prevent Brazil from developing, trying to prevent Brazil from being transformed into a great nation."
While there are few sugarcane-ethanol plantations in the Amazon, environmentalists have voiced concerns that a global ethanol boom could accelerate rain forest destruction if trees are cleared to make room for crops.
Some soy plantations in central Brazil are being transformed to sugarcane ethanol operations and environmentalists say that could lead soy farmers to move into the Amazon for their crop, which is also in high demand worldwide, particularly from China.
Cuba's Fidel Castro and Venezuela's Hugo Chavez have said that ethanol production would cause hunger by shifting food crops to energy use — an allegation Silva denies.
Brazilian ethanol makers produced 4.5 billion gallons last year, and exported 900 million gallons. Billions of dollars are pouring into the nation to increase production.
Brazil is the world's No. 1 sugar producer and exporter, and the leading exporter of ethanol made from sugarcane. It is the world's second-largest ethanol producer overall, trailing the United States, and is ramping up production of soybean-based biodiesel.
Eight of every 10 new cars in Brazil are "flex-fuel" models that can run on ethanol, gasoline or any combination of the two. Ethanol is about half the price of gasoline in Brazil.
The bulk of the world's largest remaining tropical wilderness is in the Amazon, which covers nearly 60 percent of Brazil, or about 1.6 million square miles.
About 20 percent of the rain forest has already been cut down and while the rate of destruction has slowed in recent years, environmentalists say it remains alarmingly high.
RIO DE JANEIRO, Brazil - Brazil's president said Monday that his nation's booming ethanol business won't hurt the Amazon rain forest, dismissing criticism that increased production of the alternate fuel could lead to deforestation.
Silva, referring to concerns raised during his European visit last week, said it is unjustified to think that increased production of sugar cane for ethanol could prompt more jungle clearing.
He said that Amazon weather conditions aren't favorable for the sugar cane used to produce ethanol and suggested critics are trying to prevent Brazil from advancing economically by taking advantage of rising demand for biofuels.
"The Portuguese discovered a long time ago that the Amazon isn't a place to plant cane," Silva said, and added, "The cartel of the world's powerful is trying to prevent Brazil from developing, trying to prevent Brazil from being transformed into a great nation."
While there are few sugarcane-ethanol plantations in the Amazon, environmentalists have voiced concerns that a global ethanol boom could accelerate rain forest destruction if trees are cleared to make room for crops.
Some soy plantations in central Brazil are being transformed to sugarcane ethanol operations and environmentalists say that could lead soy farmers to move into the Amazon for their crop, which is also in high demand worldwide, particularly from China.
Cuba's Fidel Castro and Venezuela's Hugo Chavez have said that ethanol production would cause hunger by shifting food crops to energy use — an allegation Silva denies.
Brazilian ethanol makers produced 4.5 billion gallons last year, and exported 900 million gallons. Billions of dollars are pouring into the nation to increase production.
Brazil is the world's No. 1 sugar producer and exporter, and the leading exporter of ethanol made from sugarcane. It is the world's second-largest ethanol producer overall, trailing the United States, and is ramping up production of soybean-based biodiesel.
Eight of every 10 new cars in Brazil are "flex-fuel" models that can run on ethanol, gasoline or any combination of the two. Ethanol is about half the price of gasoline in Brazil.
The bulk of the world's largest remaining tropical wilderness is in the Amazon, which covers nearly 60 percent of Brazil, or about 1.6 million square miles.
About 20 percent of the rain forest has already been cut down and while the rate of destruction has slowed in recent years, environmentalists say it remains alarmingly high.
Britain could be biofuel leader,
say farmers· Call to catch up with big energy crop producers· Concerns over food supply are 'absolute nonsense' Terry MacalisterMonday July 9, 2007The Guardian
Britain's farmers have an opportunity to move from a subsidy-based sector into a successful market-driven one by growing crops for biofuels, according to industry leaders. But the UK is already falling behind the US, Germany and France in the green fuels market.
Paul Temple, vice president of the National Farmers' Union, dismissed suggestions that a move to satisfy cleaner transport needs was driving up food prices as "absolute nonsense" put about by food processors and said biofuels provided benefits for town and country.
say farmers· Call to catch up with big energy crop producers· Concerns over food supply are 'absolute nonsense' Terry MacalisterMonday July 9, 2007The Guardian
Britain's farmers have an opportunity to move from a subsidy-based sector into a successful market-driven one by growing crops for biofuels, according to industry leaders. But the UK is already falling behind the US, Germany and France in the green fuels market.
Paul Temple, vice president of the National Farmers' Union, dismissed suggestions that a move to satisfy cleaner transport needs was driving up food prices as "absolute nonsense" put about by food processors and said biofuels provided benefits for town and country.
The world has two energy crises but no real answers
By Gideon Rachman
Published: July 9 2007 18:42 Last updated: July 9 2007 18:42
How very shocking! Brendan Nelson, Australia’s defence minister, has caused sharp intakes of breath by saying something that is obviously true. He remarked last week that the Middle East was “an important supplier of energy, oil in particular” and that – as a result – people “need to think what would happen if there were a premature withdrawal from Iraq”.
Mr Nelson did not say that Iraq was a “war for oil”. He merely noted that there was a lot of the stuff sitting under the ground there – and that this mattered.
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This is not news. If you look at the biggest geopolitical questions facing the world, energy is at the heart of most of them.
The world is, in fact, facing two energy crises. The first is rooted in scarcity and traditional power politics. It involves the struggle by the world’s largest and most energy-hungry economies to get hold of the natural resources they need. Just yesterday the International Energy Agency warned that the world oil market would be “extremely tight” over the next five years. Demands from China and other emerging economies are rising. But Mary Kaldor – co-author of a new book called Oil Wars (Pluto) – points out the struggle to find new oil is a familiar sort of conflict, reminiscent of the 19th century “great game” or earlier imperial clashes.
The second energy crisis is new. It is driven by climate change. It demands international co-operation rather than competition. While the first crisis leads politicians and businessmen to search out ever more oil and gas, the second demands that they radically reduce their economies’ dependence on hydrocarbons.
Politicians find themselves pulled in two directions. Tony Blair, the former UK prime minister, spent much of his last few months in office trying to promote an international agreement on climate change. But he also thinks that one of his most important – if least heralded – achievements was to secure a long-term deal for Britain on gas supplies from Norway.
In theory, the two energy crises could point in the same direction. The development of alternative, “clean” energies would reduce dependence on oil and gas. It is also crucial to any effort to cut emissions of carbon dioxide. The trouble is that there is little sign that alternative energy can be developed fast enough to rein in demand for oil and gas. Mr Blair is a firm believer in the need to develop nuclear energy. But even this policy – controversial as it is – seems unlikely to fill the gap. One report published last week argued that four new nuclear reactors a month would have to be built from now to 2070 to make any difference to global carbon dioxide emissions (Too Hot to Handle? The Future of Civil Nuclear Power, Oxford Research Group).
But while the debate about global warming continues to generate more hot air than real change, the pursuit of new sources of oil and gas is now central to the foreign policies of all the world’s biggest powers.
China’s controversial foray into Africa is its first real effort to build power and influence outside Asia. The search for oil is fundamental to this policy – in particular, China’s controversial relationship with the government of Sudan. At home, China is opening a new coal-fired power station every week, to the despair of global-warming activists.
Energy is also now probably the most important – and divisive – issue facing the European Union. Tensions between Poland and Germany have been raised by a Russo-German plan to build a new gas pipeline under the Baltic Sea. But while the Germans are placing their bets on securing long-term supplies from Russia, some other EU countries are scrambling to diversify their sources of supply – alarmed by the prospect that Russia could threaten to turn off the gas, as it did with Ukraine in 2006. Britain has its deal with Norway. The Balts and the Finns are constructing big new nuclear power stations.
Few in Europe will be comforted to hear Alexander Medvedev of Gazprom, the giant Russian energy company, remark matter-of-factly that: “In 25 years’ time, there will be only three major suppliers of natural gas – Russia, Iran and Qatar.” Meanwhile the Russian economy is growing fast and Russian foreign policy is becoming more assertive – fuelled by a booming energy industry.
The US has its own energy dilemma. It accounts for 25 per cent of the world’s oil consumption, but around 9 per cent of world oil production and 2 per cent of world oil reserves. America’s demand for hydrocarbons keeps rising and the economy is still utterly dependent on the stuff – 97 per cent of the US transport system is fuelled by oil.
The Iraq war has done nothing to ease this problem. If it was a “war for oil”, it was singularly unsuccessful. Just before the invasion, oil was trading at around $30 a barrel. On Monday it hit an 11-month high of more than $76 a barrel.
President George W. Bush announced last year that he intended to end his nation’s “addiction to oil”. Billions are being poured into research on alternative energy.
All of this is reminiscent of the last big energy panic in the 1970s. In 1973, President Richard Nixon launched “Project Independence” – to free the US of reliance on foreign energy. Jimmy Carter called energy independence “the moral equivalent of war” – and said that by 2000 the US should get 20 per cent of its energy from solar power. Since then US oil consumption has risen by 15 per cent and it is projected to grow by another 24 per cent by 2025. Solar power currently accounts for less than 1 per cent of US energy needs.
The US government is doubtless sincere in its protestations that it means to kick the oil habit. But, like many an addict, it has said similar things before – and the addiction has only grown worse. Now the US is competing for energy supplies with new and hungry addicts. Chinese oil consumption is currently growing by more than 7 per cent a year.
Climate change has only increased the moral and strategic case for alternative energy. Speaking at the London School of Economics last week, Sir Nicholas Stern – author of an influential report on climate change – struggled to sound optimistic. He admitted that finding and deploying alternative energy fast enough to avoid climate disaster would be very difficult, but added: “It is possible. And if it’s not possible, we’re in real trouble.” I would say we’re in real trouble.
gideon.rachman@ft.com
Post and read comments at www.ft.com/rachman
Copyright The Financial Times Limited 2007
By Gideon Rachman
Published: July 9 2007 18:42 Last updated: July 9 2007 18:42
How very shocking! Brendan Nelson, Australia’s defence minister, has caused sharp intakes of breath by saying something that is obviously true. He remarked last week that the Middle East was “an important supplier of energy, oil in particular” and that – as a result – people “need to think what would happen if there were a premature withdrawal from Iraq”.
Mr Nelson did not say that Iraq was a “war for oil”. He merely noted that there was a lot of the stuff sitting under the ground there – and that this mattered.
ADVERTISEMENT
This is not news. If you look at the biggest geopolitical questions facing the world, energy is at the heart of most of them.
The world is, in fact, facing two energy crises. The first is rooted in scarcity and traditional power politics. It involves the struggle by the world’s largest and most energy-hungry economies to get hold of the natural resources they need. Just yesterday the International Energy Agency warned that the world oil market would be “extremely tight” over the next five years. Demands from China and other emerging economies are rising. But Mary Kaldor – co-author of a new book called Oil Wars (Pluto) – points out the struggle to find new oil is a familiar sort of conflict, reminiscent of the 19th century “great game” or earlier imperial clashes.
The second energy crisis is new. It is driven by climate change. It demands international co-operation rather than competition. While the first crisis leads politicians and businessmen to search out ever more oil and gas, the second demands that they radically reduce their economies’ dependence on hydrocarbons.
Politicians find themselves pulled in two directions. Tony Blair, the former UK prime minister, spent much of his last few months in office trying to promote an international agreement on climate change. But he also thinks that one of his most important – if least heralded – achievements was to secure a long-term deal for Britain on gas supplies from Norway.
In theory, the two energy crises could point in the same direction. The development of alternative, “clean” energies would reduce dependence on oil and gas. It is also crucial to any effort to cut emissions of carbon dioxide. The trouble is that there is little sign that alternative energy can be developed fast enough to rein in demand for oil and gas. Mr Blair is a firm believer in the need to develop nuclear energy. But even this policy – controversial as it is – seems unlikely to fill the gap. One report published last week argued that four new nuclear reactors a month would have to be built from now to 2070 to make any difference to global carbon dioxide emissions (Too Hot to Handle? The Future of Civil Nuclear Power, Oxford Research Group).
But while the debate about global warming continues to generate more hot air than real change, the pursuit of new sources of oil and gas is now central to the foreign policies of all the world’s biggest powers.
China’s controversial foray into Africa is its first real effort to build power and influence outside Asia. The search for oil is fundamental to this policy – in particular, China’s controversial relationship with the government of Sudan. At home, China is opening a new coal-fired power station every week, to the despair of global-warming activists.
Energy is also now probably the most important – and divisive – issue facing the European Union. Tensions between Poland and Germany have been raised by a Russo-German plan to build a new gas pipeline under the Baltic Sea. But while the Germans are placing their bets on securing long-term supplies from Russia, some other EU countries are scrambling to diversify their sources of supply – alarmed by the prospect that Russia could threaten to turn off the gas, as it did with Ukraine in 2006. Britain has its deal with Norway. The Balts and the Finns are constructing big new nuclear power stations.
Few in Europe will be comforted to hear Alexander Medvedev of Gazprom, the giant Russian energy company, remark matter-of-factly that: “In 25 years’ time, there will be only three major suppliers of natural gas – Russia, Iran and Qatar.” Meanwhile the Russian economy is growing fast and Russian foreign policy is becoming more assertive – fuelled by a booming energy industry.
The US has its own energy dilemma. It accounts for 25 per cent of the world’s oil consumption, but around 9 per cent of world oil production and 2 per cent of world oil reserves. America’s demand for hydrocarbons keeps rising and the economy is still utterly dependent on the stuff – 97 per cent of the US transport system is fuelled by oil.
The Iraq war has done nothing to ease this problem. If it was a “war for oil”, it was singularly unsuccessful. Just before the invasion, oil was trading at around $30 a barrel. On Monday it hit an 11-month high of more than $76 a barrel.
President George W. Bush announced last year that he intended to end his nation’s “addiction to oil”. Billions are being poured into research on alternative energy.
All of this is reminiscent of the last big energy panic in the 1970s. In 1973, President Richard Nixon launched “Project Independence” – to free the US of reliance on foreign energy. Jimmy Carter called energy independence “the moral equivalent of war” – and said that by 2000 the US should get 20 per cent of its energy from solar power. Since then US oil consumption has risen by 15 per cent and it is projected to grow by another 24 per cent by 2025. Solar power currently accounts for less than 1 per cent of US energy needs.
The US government is doubtless sincere in its protestations that it means to kick the oil habit. But, like many an addict, it has said similar things before – and the addiction has only grown worse. Now the US is competing for energy supplies with new and hungry addicts. Chinese oil consumption is currently growing by more than 7 per cent a year.
Climate change has only increased the moral and strategic case for alternative energy. Speaking at the London School of Economics last week, Sir Nicholas Stern – author of an influential report on climate change – struggled to sound optimistic. He admitted that finding and deploying alternative energy fast enough to avoid climate disaster would be very difficult, but added: “It is possible. And if it’s not possible, we’re in real trouble.” I would say we’re in real trouble.
gideon.rachman@ft.com
Post and read comments at www.ft.com/rachman
Copyright The Financial Times Limited 2007
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