Russians ponder aluminium plant< a>
GIANT Russian aluminium company Rusal is considering building a greenfields aluminium smelter in Queensland - and aims to power it through its own generating capacity.Chief executive Alexander Bulygin said preliminary studies had found that Queensland's combination of coal and alumina supplies could allow a greenfields smelter investment that relied on low energy costs.
Speaking from Moscow last night, Mr Bulygin declined to specify the investment or the time frame.
But it is understood Rusal has already had extensive discussions with Queensland's electricity-generating companies and with the PNG Gas Project owners.
Rusal said that its plans were independent of another Russian-backed group, Aldoga, which had halted plans to build an aluminium smelter at Gladstone.
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Mr Bulgyin spoke after the privately owned Rusal, the world's third-largest aluminium group, reported record earnings for 2005.
He said Rusal's 2005 sales increased by 12.8 per cent to $US6.1 billion ($8 billion) compared with $US5.4 billion in 2004.
Rusal, which was formed in 2000 from aluminium companies in Russia and the former Soviet Union, accounts for 75 per cent of Russian aluminium output and 10 per cent of world production.
Its investment in the world's largest alumina refinery, Queensland Alumina at Gladstone, is the biggest Russian investment in Australia.
Releasing Rusal's production and financial results for 2005, Mr Bulygin said measures taken by the Chinese Government to curb primary aluminium production growth, as well as significant power and raw material limitations, would impede China's development as a net exporter.
"Therefore, Rusal believes that all these factors will contribute to further aluminium price increases," he said.
"Over the year the company expects aluminium demand to rise at a rate of 7 per cent and aluminium prices to be sustained at $US2200 to $US2500 a tonne, with the possibility of reaching the level of $US2700 to $US2900 a tonne."
The company's total investment tripled from $US524 million in 2004 to $US1.4 billion in 2005.
Aluminium production was up 1.6 per cent on the year to 2.7 million tonnes of primary aluminium. Alumina production increased 25.7 per cent to 3.89 million tonnes.
Mr Bulygin said four main factors were influencing the world aluminium market.
These were energy prices, the high cost of new production capacity, further closures of unprofitable smelters in Europe and the US, and aluminium production in China.
But he said the price of alumina was likely to fall this year from around $US500-550 a tonne and could be as low as $US350 a tonne in 2007.
Rusal is owned by one of Russia's so-called oligarchs, Oleg Deripaska, through his company Basic Element, Russia's largest asset management company for private equity funds.
Thursday, February 02, 2006
Infratil subsidiary to buy Australia power station - 01 Feb 2006 - Business
Infratil Energy Australia, a subsidiary of infrastructure investor Infratil, has agreed to buy a 39 megawatt power station in South Australia.
Infratil Energy will buy the diesel-fired station, at Angaston, from Cummins Engine Company. Infratil said it had bought the plant for less than its replacement cost of about A$25 million ($28 million).
The deal is set for completion before the end of March.
Infratil Energy said it had also secured an off take contract, which gave the venture revenue certainty in the medium term.
The power station was commissioned in 2005 and provides backup generation during occasional periods of high electricity prices with its income coming from the sale of electricity price caps.
Infratil Energy Australia chief executive Darryl Flukes said the company was pleased to have bought its first Australian generation asset.
"Over the medium term this investment will be very complementary to Infratil's growing Australian energy retailing ventures."
Infratil Energy Australia undertakes all wholesale gas and electricity purchasing for Infratil's Australian electricity retailing ventures, Victoria Electricity Limited and South Australia Electricity Limited.
Shares in Infratil were down 2c at $3.83 this afternoon, having ranged between $3.23 and $4.15 during the past 12 months.
- NZPA
Infratil Energy Australia, a subsidiary of infrastructure investor Infratil, has agreed to buy a 39 megawatt power station in South Australia.
Infratil Energy will buy the diesel-fired station, at Angaston, from Cummins Engine Company. Infratil said it had bought the plant for less than its replacement cost of about A$25 million ($28 million).
The deal is set for completion before the end of March.
Infratil Energy said it had also secured an off take contract, which gave the venture revenue certainty in the medium term.
The power station was commissioned in 2005 and provides backup generation during occasional periods of high electricity prices with its income coming from the sale of electricity price caps.
Infratil Energy Australia chief executive Darryl Flukes said the company was pleased to have bought its first Australian generation asset.
"Over the medium term this investment will be very complementary to Infratil's growing Australian energy retailing ventures."
Infratil Energy Australia undertakes all wholesale gas and electricity purchasing for Infratil's Australian electricity retailing ventures, Victoria Electricity Limited and South Australia Electricity Limited.
Shares in Infratil were down 2c at $3.83 this afternoon, having ranged between $3.23 and $4.15 during the past 12 months.
- NZPA
$6m gas deal claimed [02feb06]
SANTOS has committed to buying into AGL's $6 billion gas pipeline project according to Papua New Guinea's Energy Minister, but Santos is remaining tightlipped.
At a reception for Townsville's civic leaders in Port Moresby on Friday, PNG Deputy Prime Minister and Energy Minister, Sir Moi Avei, said Santos's involvement was a done deal.
Speaking to the Herald Sun, Sir Moi confirmed Australia's third largest oil and gas company had committed to the project.
"I know we have finalised a deal with Santos, which is now subject to endorsement by their board," Sir Moi said.
"When you put together the other customers, AGL, QAL, Comalco, CS Energy, and Alcan we have gone past the threshold volumes that the project needs."
Santos spokeswoman Kathryn Mitchell was sticking to the script yesterday, saying while the company had made no secret it was in talks with the participants about Santos's potential role, any announcement would be made through the stock exchange.
Shaw Stockbroking resources analyst John Colnan said the pipeline was just one of a number of issues Santos was working through.
"Santos is currently in negotiations with AGL re gas pricing," Mr Colnan said.
"Santos is seeking higher prices and AGL is seeking to pay a lower price for gas coming out of the Cooper Basin.
"If Santos jumps into the PNG project right now . . . then what they're attempting to do with one hand they might be cutting off with the other.
"I believe Santos want to resolve a number of issues before attempting to unlock the PNG gas."
Mr Colnan said he believed Santos would at least wait until the true capital cost of the project was released towards the end of April, before committing.
AGL last month brought forward its $543 million investment in the pipeline project by six months.
The project, which would include a 3000km pipeline from the PNG highlands to Australia, is likely to ge given the go-ahead later this year, with Townsville the likely beachhead for the Australian end of the pipeline.
Also yesterday, the Santos-operated Casino gas field began production, two months ahead of schedule. The field, off the Victorian coast, has delivered its first gas.
It is the second large Santos project to come online ahead of schedule within nine months, following the Mutineer-Exeter oil field starting production in April last year, three months ahead of schedule.
Santos shares yesterday finished at a record closing high of $13.47, up 37c.
SANTOS has committed to buying into AGL's $6 billion gas pipeline project according to Papua New Guinea's Energy Minister, but Santos is remaining tightlipped.
At a reception for Townsville's civic leaders in Port Moresby on Friday, PNG Deputy Prime Minister and Energy Minister, Sir Moi Avei, said Santos's involvement was a done deal.
Speaking to the Herald Sun, Sir Moi confirmed Australia's third largest oil and gas company had committed to the project.
"I know we have finalised a deal with Santos, which is now subject to endorsement by their board," Sir Moi said.
"When you put together the other customers, AGL, QAL, Comalco, CS Energy, and Alcan we have gone past the threshold volumes that the project needs."
Santos spokeswoman Kathryn Mitchell was sticking to the script yesterday, saying while the company had made no secret it was in talks with the participants about Santos's potential role, any announcement would be made through the stock exchange.
Shaw Stockbroking resources analyst John Colnan said the pipeline was just one of a number of issues Santos was working through.
"Santos is currently in negotiations with AGL re gas pricing," Mr Colnan said.
"Santos is seeking higher prices and AGL is seeking to pay a lower price for gas coming out of the Cooper Basin.
"If Santos jumps into the PNG project right now . . . then what they're attempting to do with one hand they might be cutting off with the other.
"I believe Santos want to resolve a number of issues before attempting to unlock the PNG gas."
Mr Colnan said he believed Santos would at least wait until the true capital cost of the project was released towards the end of April, before committing.
AGL last month brought forward its $543 million investment in the pipeline project by six months.
The project, which would include a 3000km pipeline from the PNG highlands to Australia, is likely to ge given the go-ahead later this year, with Townsville the likely beachhead for the Australian end of the pipeline.
Also yesterday, the Santos-operated Casino gas field began production, two months ahead of schedule. The field, off the Victorian coast, has delivered its first gas.
It is the second large Santos project to come online ahead of schedule within nine months, following the Mutineer-Exeter oil field starting production in April last year, three months ahead of schedule.
Santos shares yesterday finished at a record closing high of $13.47, up 37c.
BHP will sell its coal seam gas resources [February 02, 2006]
AUSTRALIA'S emerging coal seam gas sector is under renewed investor spotlight as mining giant BHP Billiton seeks indicative bids for its global coal seam gas assets.
Origin Energy, which yesterday agreed to pay $70 million for the Argyle coal seam gas project in Queensland, is showing interest in the BHP assets, along with Santos and AGL, which have also made investments in coal seam gas.
BHP trail-blazed the development of tapping coal seam gas as a power source in Australia. Its major asset is its equal joint venture with CH4 in the Moranbah project in Queensland, the country's largest single coal seam gas project.
Shares in CH4, which is 47 per cent owned by Macquarie Bank, gained 5c, or 3.6 per cent yesterday, to $1.43, valuing the company at $145 million.
Moranbah powers Entertrade's Townsville power station, which in turn powers BHP's Yabulu nickel refinery.
BHP is also seeking buyers for its offshore coal seam gas assets, which are believed to be focused on Illinois in the US, and in China.
A BHP spokeswoman declined to confirm rumours that it was managing a sales process, but interested bidders said BHP wanted to expedite the sale with the aim of completing it before the end of the month.
The planned sale of BHP's coal seam gas assets was no surprise to analysts who said the business was too small in scale and too dispersed to be a core development for the global miner.
However, the CH4 joint venture will be attractive to major energy companies looking to capitalise on rising power demand in Queensland and NSW.
Last month consultant Core Collaborative and Energy Quest said coal seam gas could be supplying 35 per cent of eastern Australia's energy needs within the next 10 years.
About $1.5 billion has been ploughed into the sector in the past five years. Last year Santos raised eyebrows by paying $612 million for a majority stake in the Fairview coal seam gas project in Queensland through a merger with US-based Tipperary Oil.
Wilson HTM analyst Andrew Pedder said coal seam gas was well placed to fill a looming gas supply gap on the east coast from 2010. He said coal seam gas was likely to be able to compete with the $US2.7 billion PNG-to-Queensland gas pipeline project championed by Oil Search and ExxonMobil. First gas from the pipeline, which comes from PNG, is expected from 2009.
Australia boasts 3600 petajoules of proven and probable reserves of coal seam gas, equivalent to about 600 million barrels of oil.
The US sources about 7 per cent of its natural gas output from coal seams.
At Argyle, Origin is acquiring a project next to its own Talinga project in the southeast of Queensland. Argyle has 117 petajoules of reserves and has already contracted to supply 3 petajoules a year to fertiliser giant Incitec Pivot from late 2007. Origin has acquired Argyle from Pangaea Oil & Gas.
AUSTRALIA'S emerging coal seam gas sector is under renewed investor spotlight as mining giant BHP Billiton seeks indicative bids for its global coal seam gas assets.
Origin Energy, which yesterday agreed to pay $70 million for the Argyle coal seam gas project in Queensland, is showing interest in the BHP assets, along with Santos and AGL, which have also made investments in coal seam gas.
BHP trail-blazed the development of tapping coal seam gas as a power source in Australia. Its major asset is its equal joint venture with CH4 in the Moranbah project in Queensland, the country's largest single coal seam gas project.
Shares in CH4, which is 47 per cent owned by Macquarie Bank, gained 5c, or 3.6 per cent yesterday, to $1.43, valuing the company at $145 million.
Moranbah powers Entertrade's Townsville power station, which in turn powers BHP's Yabulu nickel refinery.
BHP is also seeking buyers for its offshore coal seam gas assets, which are believed to be focused on Illinois in the US, and in China.
A BHP spokeswoman declined to confirm rumours that it was managing a sales process, but interested bidders said BHP wanted to expedite the sale with the aim of completing it before the end of the month.
The planned sale of BHP's coal seam gas assets was no surprise to analysts who said the business was too small in scale and too dispersed to be a core development for the global miner.
However, the CH4 joint venture will be attractive to major energy companies looking to capitalise on rising power demand in Queensland and NSW.
Last month consultant Core Collaborative and Energy Quest said coal seam gas could be supplying 35 per cent of eastern Australia's energy needs within the next 10 years.
About $1.5 billion has been ploughed into the sector in the past five years. Last year Santos raised eyebrows by paying $612 million for a majority stake in the Fairview coal seam gas project in Queensland through a merger with US-based Tipperary Oil.
Wilson HTM analyst Andrew Pedder said coal seam gas was well placed to fill a looming gas supply gap on the east coast from 2010. He said coal seam gas was likely to be able to compete with the $US2.7 billion PNG-to-Queensland gas pipeline project championed by Oil Search and ExxonMobil. First gas from the pipeline, which comes from PNG, is expected from 2009.
Australia boasts 3600 petajoules of proven and probable reserves of coal seam gas, equivalent to about 600 million barrels of oil.
The US sources about 7 per cent of its natural gas output from coal seams.
At Argyle, Origin is acquiring a project next to its own Talinga project in the southeast of Queensland. Argyle has 117 petajoules of reserves and has already contracted to supply 3 petajoules a year to fertiliser giant Incitec Pivot from late 2007. Origin has acquired Argyle from Pangaea Oil & Gas.
Chevron wins block off northwest Australia
By OGJ editors
HOUSTON, Feb. 1 -- Chevron Corp. subsidiary Chevron Australia Pty. Ltd. and partners have received exploration rights to Block W05-16 in the Carnarvon basin off northwest Australia.
The W05-16 permit covers 1,020 sq miles. The Carnarvon basin includes the North West Shelf and Greater Gorgon area. The new acreage is adjacent to the gas fields of the Gorgon project.
The 3-year work program for the permit area includes geotechnical studies, 1,500 miles of 2D seismic data reprocessing, a 695 sq mile 3D seismic survey, and the drilling of two exploration wells. Seismic work will begin this year. There is potential for another 3-year work program, Chevron said.
Chevron will operate the block and hold a 50% interest. Shell Development Australia and ExxonMobil Corp. each will hold a 25% interest
By OGJ editors
HOUSTON, Feb. 1 -- Chevron Corp. subsidiary Chevron Australia Pty. Ltd. and partners have received exploration rights to Block W05-16 in the Carnarvon basin off northwest Australia.
The W05-16 permit covers 1,020 sq miles. The Carnarvon basin includes the North West Shelf and Greater Gorgon area. The new acreage is adjacent to the gas fields of the Gorgon project.
The 3-year work program for the permit area includes geotechnical studies, 1,500 miles of 2D seismic data reprocessing, a 695 sq mile 3D seismic survey, and the drilling of two exploration wells. Seismic work will begin this year. There is potential for another 3-year work program, Chevron said.
Chevron will operate the block and hold a 50% interest. Shell Development Australia and ExxonMobil Corp. each will hold a 25% interest
Bush energy initiative seeks to lower US oil imports
Nick SnowWashington Correspondent
WASHINGTON, DC, Feb. 1 -- US President George W. Bush announced an advanced energy initiative aimed at reducing US dependence on imported oil in his state of the union address Jan. 31.
But two congressional Republican energy leaders quickly pointed out that it overlooked potential contributions from the country's substantial oil shale deposits.
The initiative includes a 22% increase in clean energy research at the Department of Energy aimed at improving production of electricity and changing "how we power our automobiles," the president said.
"Keeping America competitive requires affordable energy. And here we have a problem. America is addicted to oil, which is often imported from unstable areas of the world," Bush said. "The best way to break this addition is through technology. Since 2001, we have spent nearly $10 billion to develop cleaner, cheaper and more reliable alternative energy sources. And we are on the threshold of incredible advances."
For transportation, Bush said, the federal government would accelerate research on improving batteries for hybrid and electric vehicles and production of ethanol from switch grass and wood chips or stalks as well as corn.
"Our goal is to make this new kind of ethanol competitive and practical within 6 years," the president said. "Breakthroughs on this and other new technologies will help us reach another great goal—to replace more than 75% of our oil imports from the Middle East by 2025."
Through "talent and technology," he said, the US can "move beyond a petroleum-based economy and make our dependence on Middle Eastern oil a thing of the past."
Early reactionsAmong early reactions, Senate Energy and Natural Resources Committee Chairman Pete V. Domenici (R-N.M.) applauded Bush's pledge to accelerate alternative transportation fuel research but added that oil shale also could play a significant part.
"This is a sharp departure from past speeches," Domenici said. "Traditionalists may be disappointed that oil and gas weren't the centerpieces of his energy remarks, but the president is absolutely right to map out an expanded strategy in alternative energy."
He emphasized that the United States would not replace foreign oil soon but said that Bush is moving the country in the right direction.
"However, in order to achieve his goal of reducing our reliance on Middle East oil by 75% in the next 20 years, I do think we have to focus our ingenuity on extracting oil from our own abundant resources such as oil shale," Domenici said. "A push into oil shale research can complement our alternative fuel research and make the president's goal a reality."
But the ranking minority member of the Senate Environment and Public Works Committee was less impressed. "President Bush once again says all the right things about energy and the environment, but his 5-year record demonstrates something very different," said Sen. James M. Jeffords (I-Vt.). "He spoke again tonight about reducing our nation's dependence on foreign oil, but his policies have done little to achieve that goal. Our nation is now more dependent on foreign oil than ever before."
Growing competitionIn the House, Resources Committee Chairman Richard W. Pombo (R-Calif.) said Bush's plan is visionary and comes as countries around the world grow more economically competitive.
"These countries, like China and India, know that energy is the lifeblood of a strong economy. And because of this increased global demand for energy, our country remains in an energy crisis that hurts American families and businesses," he said.
The US won't remain economically competitive if businesses leave because energy prices are too high, Pombo warned.
"We must treat this problem with a combination of new and diverse energy sources, increased American energy production and more energy conservation," he said.
In addition to increased alternative energy and clean-coal research, more ethanol production, and accelerated conservation, Pombo said, Congress must "use the world's strictest environmental regulations" to tap energy resources in the Arctic National Wildlife Refuge.
The United States also needs to produce more of its conventional energy such as oil and gas and recover petroleum from shale deposits, he said.
"It would be irresponsible to pretend we won't need traditional fossil fuels in the near future as we transition to alternative sources," Pombo said.
Contact Nick Snow at nsnow@cox.net.
Nick SnowWashington Correspondent
WASHINGTON, DC, Feb. 1 -- US President George W. Bush announced an advanced energy initiative aimed at reducing US dependence on imported oil in his state of the union address Jan. 31.
But two congressional Republican energy leaders quickly pointed out that it overlooked potential contributions from the country's substantial oil shale deposits.
The initiative includes a 22% increase in clean energy research at the Department of Energy aimed at improving production of electricity and changing "how we power our automobiles," the president said.
"Keeping America competitive requires affordable energy. And here we have a problem. America is addicted to oil, which is often imported from unstable areas of the world," Bush said. "The best way to break this addition is through technology. Since 2001, we have spent nearly $10 billion to develop cleaner, cheaper and more reliable alternative energy sources. And we are on the threshold of incredible advances."
For transportation, Bush said, the federal government would accelerate research on improving batteries for hybrid and electric vehicles and production of ethanol from switch grass and wood chips or stalks as well as corn.
"Our goal is to make this new kind of ethanol competitive and practical within 6 years," the president said. "Breakthroughs on this and other new technologies will help us reach another great goal—to replace more than 75% of our oil imports from the Middle East by 2025."
Through "talent and technology," he said, the US can "move beyond a petroleum-based economy and make our dependence on Middle Eastern oil a thing of the past."
Early reactionsAmong early reactions, Senate Energy and Natural Resources Committee Chairman Pete V. Domenici (R-N.M.) applauded Bush's pledge to accelerate alternative transportation fuel research but added that oil shale also could play a significant part.
"This is a sharp departure from past speeches," Domenici said. "Traditionalists may be disappointed that oil and gas weren't the centerpieces of his energy remarks, but the president is absolutely right to map out an expanded strategy in alternative energy."
He emphasized that the United States would not replace foreign oil soon but said that Bush is moving the country in the right direction.
"However, in order to achieve his goal of reducing our reliance on Middle East oil by 75% in the next 20 years, I do think we have to focus our ingenuity on extracting oil from our own abundant resources such as oil shale," Domenici said. "A push into oil shale research can complement our alternative fuel research and make the president's goal a reality."
But the ranking minority member of the Senate Environment and Public Works Committee was less impressed. "President Bush once again says all the right things about energy and the environment, but his 5-year record demonstrates something very different," said Sen. James M. Jeffords (I-Vt.). "He spoke again tonight about reducing our nation's dependence on foreign oil, but his policies have done little to achieve that goal. Our nation is now more dependent on foreign oil than ever before."
Growing competitionIn the House, Resources Committee Chairman Richard W. Pombo (R-Calif.) said Bush's plan is visionary and comes as countries around the world grow more economically competitive.
"These countries, like China and India, know that energy is the lifeblood of a strong economy. And because of this increased global demand for energy, our country remains in an energy crisis that hurts American families and businesses," he said.
The US won't remain economically competitive if businesses leave because energy prices are too high, Pombo warned.
"We must treat this problem with a combination of new and diverse energy sources, increased American energy production and more energy conservation," he said.
In addition to increased alternative energy and clean-coal research, more ethanol production, and accelerated conservation, Pombo said, Congress must "use the world's strictest environmental regulations" to tap energy resources in the Arctic National Wildlife Refuge.
The United States also needs to produce more of its conventional energy such as oil and gas and recover petroleum from shale deposits, he said.
"It would be irresponsible to pretend we won't need traditional fossil fuels in the near future as we transition to alternative sources," Pombo said.
Contact Nick Snow at nsnow@cox.net.
GM May Reinvest in Maryland
Factory Would Build Components for Hybrid Vehicles
By Sholnn Freeman and Amy JoyceWashington Post Staff WritersWednesday, February 1, 2006; Page D02
General Motors Corp. chairman and chief executive G. Richard Wagoner Jr. is expected to announce today that a transmission plant in White Marsh, Md., will build components for gas-saving hybrid vehicles, according to sources familiar with the plan.
GM would say only it is planning a "production investment" in the plant but would not say if it involves hybrid technology, how much money would be spent or how many jobs could be added. The sources, who did not want to preempt the official company announcement, spoke on the condition they not be named.
GM chief G. Richard Wagoner Jr. is expected to make an announcement today about a plant in White Marsh, Md. (By Pat Sullivan -- Associated Press)
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The plant employs about 440 workers, including 372 hourly employees represented by the United Auto Workers union. The plant builds Allison Series 1000 automatic transmissions for certain heavy-duty trucks, including the Chevrolet Silverado and GMC Sierra. The transmission plant, which opened in 2000, is the only remaining piece of GM's scaled-down operations in the state.
Last year, GM closed its Baltimore assembly plant, which had built vans, including the Chevrolet Astro and the GMC Safari, since the 1980s. The assembly plant employed about 1,100 workers when GM ended production there in May. At its peak, the Baltimore van assembly plant employed 7,000 GM workers.
A GM spokesman said some of the workers have retired or moved out of the region for other GM jobs. Under terms of the UAW contract, workers laid off from the closure of the assembly plant are eligible for any new GM manufacturing job openings.
GM is reeling from an $8.56 billion loss reported last week. GM and Ford Motor Co. are in the midst of significant restructuring that will lead to cutting as many as 60,000 jobs and shuttering all or part of 26 plants across the nation. The automakers have been struggling against eroding market share, slowing sport-utility vehicle sales and lackluster vehicle introductions. The automakers have also complained of the escalating cost of health care and trouble managing high fixed costs, such as the salaries and benefits of UAW workers.
In the hybrid vehicle race, GM is playing catch-up to Toyota Motor Corp., the market leader. Toyota started with the Prius, a big hit so far in the U.S. market. Toyota also has hybrid versions of the Camry and Highlander. Toyota's Lexus brand has said it will build a sedan with a V-8 gas-electric hybrid engine, which is expected to be an industry first. Honda Motor Co. has three gas-electric hybrid passenger cars.
This spring, GM will begin selling the Saturn Vue Green Line SUV, which was displayed at last week's Washington Auto Show. The Vue will have a "mild hybrid" system, which is not as technologically advanced as competitors' models, but will make it the least expensive hybrid SUV at $23,000. GM says the Vue Green Line will get 20 percent better fuel economy than comparable non-hybrid Vue models.
GM has said it will have 12 hybrid models on the market by 2012, including its Chevrolet Silverado pickup trucks and SUV models, such as the GMC Yukon and Cadillac Escalade. Advanced transmissions and batteries are key components in hybrid technology.
Ford is also pushing hybrid technology. Chairman William C. Ford Jr. has pledged that Ford will boost hybrid production tenfold to 250,000 cars and trucks per year by 2010. With the new commitment, Ford would offer the option of a gas-electric engine on more than half of its Ford, Lincoln and Mercury models.
GM has not said how many hybrid vehicles it hopes to sell.
Factory Would Build Components for Hybrid Vehicles
By Sholnn Freeman and Amy JoyceWashington Post Staff WritersWednesday, February 1, 2006; Page D02
General Motors Corp. chairman and chief executive G. Richard Wagoner Jr. is expected to announce today that a transmission plant in White Marsh, Md., will build components for gas-saving hybrid vehicles, according to sources familiar with the plan.
GM would say only it is planning a "production investment" in the plant but would not say if it involves hybrid technology, how much money would be spent or how many jobs could be added. The sources, who did not want to preempt the official company announcement, spoke on the condition they not be named.
GM chief G. Richard Wagoner Jr. is expected to make an announcement today about a plant in White Marsh, Md. (By Pat Sullivan -- Associated Press)
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The plant employs about 440 workers, including 372 hourly employees represented by the United Auto Workers union. The plant builds Allison Series 1000 automatic transmissions for certain heavy-duty trucks, including the Chevrolet Silverado and GMC Sierra. The transmission plant, which opened in 2000, is the only remaining piece of GM's scaled-down operations in the state.
Last year, GM closed its Baltimore assembly plant, which had built vans, including the Chevrolet Astro and the GMC Safari, since the 1980s. The assembly plant employed about 1,100 workers when GM ended production there in May. At its peak, the Baltimore van assembly plant employed 7,000 GM workers.
A GM spokesman said some of the workers have retired or moved out of the region for other GM jobs. Under terms of the UAW contract, workers laid off from the closure of the assembly plant are eligible for any new GM manufacturing job openings.
GM is reeling from an $8.56 billion loss reported last week. GM and Ford Motor Co. are in the midst of significant restructuring that will lead to cutting as many as 60,000 jobs and shuttering all or part of 26 plants across the nation. The automakers have been struggling against eroding market share, slowing sport-utility vehicle sales and lackluster vehicle introductions. The automakers have also complained of the escalating cost of health care and trouble managing high fixed costs, such as the salaries and benefits of UAW workers.
In the hybrid vehicle race, GM is playing catch-up to Toyota Motor Corp., the market leader. Toyota started with the Prius, a big hit so far in the U.S. market. Toyota also has hybrid versions of the Camry and Highlander. Toyota's Lexus brand has said it will build a sedan with a V-8 gas-electric hybrid engine, which is expected to be an industry first. Honda Motor Co. has three gas-electric hybrid passenger cars.
This spring, GM will begin selling the Saturn Vue Green Line SUV, which was displayed at last week's Washington Auto Show. The Vue will have a "mild hybrid" system, which is not as technologically advanced as competitors' models, but will make it the least expensive hybrid SUV at $23,000. GM says the Vue Green Line will get 20 percent better fuel economy than comparable non-hybrid Vue models.
GM has said it will have 12 hybrid models on the market by 2012, including its Chevrolet Silverado pickup trucks and SUV models, such as the GMC Yukon and Cadillac Escalade. Advanced transmissions and batteries are key components in hybrid technology.
Ford is also pushing hybrid technology. Chairman William C. Ford Jr. has pledged that Ford will boost hybrid production tenfold to 250,000 cars and trucks per year by 2010. With the new commitment, Ford would offer the option of a gas-electric engine on more than half of its Ford, Lincoln and Mercury models.
GM has not said how many hybrid vehicles it hopes to sell.
FuelCell Energy Selected by Department of Energy to Advance High Temperature Polymer Exchange Membrane Technology for Power Generation Applications : "Company to Be Part of Energy Secretary Bodman's Five-Year, $119 Million Program to Advance Fuel Cell Development and Reduce America's Dependence on Foreign Oil
DANBURY, Conn.--(BUSINESS WIRE)--Feb. 1, 2006-- FuelCell Energy, Inc. (NasdaqNM:FCEL), a leading manufacturer of efficient, ultra-clean electric power generation plants for commercial and industrial customers, today announced that it has been selected by the U.S. Department of Energy (DOE) for a five-year, $2.1 million cost-shared project to develop a high temperature membrane for low humidity operation of Polymer Electrolyte Membrane (PEM) fuel cells, subject to final negotiation of an agreement. FuelCell Energy was awarded one of 12 competitively bid projects that will receive a total of $19 million in federal funding for polymer membrane research. The overall goal of this research is to advance membrane durability and extend shelf-life, while simultaneously bringing down its cost.
The project includes the development of a composite membrane for high temperature (120(degrees)C) PEM fuel cell operation. The composite membrane is intended to have the mechanical strength and water retention capability required for efficient operation and reduced system cost. Traditional PEM fuel cells operate at approximately 60(degrees)C to 80(degrees)C and operation at higher temperatures would reduce cost and increase efficiency. FuelCell Energy's high temperature experience from its carbonate and solid oxide fuel cell programs and the development of highly functionalized fuel cell membranes for phosphoric-acid and PEM fuel cells over the past 20 years make it uniquely qualified for this project.
The project award is part of a broader program announced on Jan. 24, 2006, by Energy "
DANBURY, Conn.--(BUSINESS WIRE)--Feb. 1, 2006-- FuelCell Energy, Inc. (NasdaqNM:FCEL), a leading manufacturer of efficient, ultra-clean electric power generation plants for commercial and industrial customers, today announced that it has been selected by the U.S. Department of Energy (DOE) for a five-year, $2.1 million cost-shared project to develop a high temperature membrane for low humidity operation of Polymer Electrolyte Membrane (PEM) fuel cells, subject to final negotiation of an agreement. FuelCell Energy was awarded one of 12 competitively bid projects that will receive a total of $19 million in federal funding for polymer membrane research. The overall goal of this research is to advance membrane durability and extend shelf-life, while simultaneously bringing down its cost.
The project includes the development of a composite membrane for high temperature (120(degrees)C) PEM fuel cell operation. The composite membrane is intended to have the mechanical strength and water retention capability required for efficient operation and reduced system cost. Traditional PEM fuel cells operate at approximately 60(degrees)C to 80(degrees)C and operation at higher temperatures would reduce cost and increase efficiency. FuelCell Energy's high temperature experience from its carbonate and solid oxide fuel cell programs and the development of highly functionalized fuel cell membranes for phosphoric-acid and PEM fuel cells over the past 20 years make it uniquely qualified for this project.
The project award is part of a broader program announced on Jan. 24, 2006, by Energy "
">FuelCell Energy Selected by Department of Energy to Advance High Temperature Polymer Exchange Membrane Technology for Power Generation Applications
Company to Be Part of Energy Secretary Bodman's Five-Year, $119 Million Program to Advance Fuel Cell Development and Reduce America's Dependence on Foreign Oil
DANBURY, Conn.--(BUSINESS WIRE)--Feb. 1, 2006-- FuelCell Energy, Inc. (NasdaqNM:FCEL), a leading manufacturer of efficient, ultra-clean electric power generation plants for commercial and industrial customers, today announced that it has been selected by the U.S. Department of Energy (DOE) for a five-year, $2.1 million cost-shared project to develop a high temperature membrane for low humidity operation of Polymer Electrolyte Membrane (PEM) fuel cells, subject to final negotiation of an agreement. FuelCell Energy was awarded one of 12 competitively bid projects that will receive a total of $19 million in federal funding for polymer membrane research. The overall goal of this research is to advance membrane durability and extend shelf-life, while simultaneously bringing down its cost.
The project includes the development of a composite membrane for high temperature (120(degrees)C) PEM fuel cell operation. The composite membrane is intended to have the mechanical strength and water retention capability required for efficient operation and reduced system cost. Traditional PEM fuel cells operate at approximately 60(degrees)C to 80(degrees)C and operation at higher temperatures would reduce cost and increase efficiency. FuelCell Energy's high temperature experience from its carbonate and solid oxide fuel cell programs and the development of highly functionalized fuel cell membranes for phosphoric-acid and PEM fuel cells over the past 20 years make it uniquely qualified for this project.
The project award is part of a broader program announced on Jan. 24, 2006, by Energy Secretary Samuel W. Bodman totaling $119 million in funding and including a roadmap aimed at identifying and overcoming the technical and manufacturing challenges associated with the further development of commercially available hydrogen fuel cell vehicles. The DOE will provide $100 million over four years for additional research projects seeking to improve fuel cell membranes, water transport within the stack, advanced cathode catalysts and supports, cell hardware, innovative fuel cell concepts, and effects of impurities on fuel cell performance and durability.
"Investment in fuel cell and hydrogen research today will enable America to lead the world in developing clean, hydrogen powered automobiles that will reduce our dependence on imported oil," said Secretary Bodman. "This funding will help overcome the technical barriers and bring hydrogen and fuel cell technology from the laboratory to the showroom."
"This project award by the DOE recognizes our expertise in all fuel cell research and development," said R. Daniel Brdar, President and CEO of FuelCell Energy. "It shows that we are a part of this nation's drive for high efficiency and environmentally responsible power generation to help attain the country's goal of reducing harmful emissions and increasing energy independence."
Last week's announcement is part of the $1.2 billion Hydrogen Fuel Initiative announced by President Bush in his 2003 State of the Union Address. This initiative has the potential to reverse America's growing dependence on foreign oil by developing the technology for commercially viable hydrogen-powered fuel cells - a way to power cars, trucks, homes and businesses that produce no pollution and no greenhouse gases.
About FuelCell Energy
FuelCell Energy Inc. develops and markets ultra-clean power plants that generate electricity and heat with higher efficiency than conventional fossil fuel plants and with virtually no air pollution. Fuel cells produce base load electricity giving commercial and industrial customers greater control over their power generation economics, reliability and emissions. Emerging state, federal and international regulations to reduce harmful greenhouse gas emissions consider fuel cell power plants in the same environmentally friendly category as wind and solar energy sources -- with the added advantages of running 24 hours a day and the capacity to be installed where wind turbines or solar panels often cannot. Headquartered in Danbury, Conn., FuelCell Energy services over 40 power generation sites around the globe that have produced more than 80 million kilowatt hours, and conducts R&D on next-generation fuel cell technologies to meet the world's ever-increasing demand for ultra-clean distributed energy. For more information on the company, its products and its worldwide commercial distribution alliances, please see www.fuelcellenergy.com.
Direct FuelCell, DFC and DFC/Turbine are registered trademarks of FuelCell Energy, Inc. All other trademarks are the property of their respective owners.
This news release contains forward-looking statements, including statements regarding the Company's plans and expectations regarding the development and commercialization of its fuel cell technology. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause such a difference include, without limitation, the risk that commercial field trials of the Company's products will not occur when anticipated, general risks associated with product development, manufacturing, changes in the utility regulatory environment, potential volatility of energy prices, rapid technological change, and competition, as well as other risks set forth in the Company's filings with the Securities and Exchange Commission. The forward-looking statements contained herein speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based.
CONTACT: FuelCell Energy, Inc.
Investors and Media:
Steven P. Eschbach, CFA, 203-825-6000
seschbach@fce.com
SOURCE: FuelCell Energy, Inc.
Company to Be Part of Energy Secretary Bodman's Five-Year, $119 Million Program to Advance Fuel Cell Development and Reduce America's Dependence on Foreign Oil
DANBURY, Conn.--(BUSINESS WIRE)--Feb. 1, 2006-- FuelCell Energy, Inc. (NasdaqNM:FCEL), a leading manufacturer of efficient, ultra-clean electric power generation plants for commercial and industrial customers, today announced that it has been selected by the U.S. Department of Energy (DOE) for a five-year, $2.1 million cost-shared project to develop a high temperature membrane for low humidity operation of Polymer Electrolyte Membrane (PEM) fuel cells, subject to final negotiation of an agreement. FuelCell Energy was awarded one of 12 competitively bid projects that will receive a total of $19 million in federal funding for polymer membrane research. The overall goal of this research is to advance membrane durability and extend shelf-life, while simultaneously bringing down its cost.
The project includes the development of a composite membrane for high temperature (120(degrees)C) PEM fuel cell operation. The composite membrane is intended to have the mechanical strength and water retention capability required for efficient operation and reduced system cost. Traditional PEM fuel cells operate at approximately 60(degrees)C to 80(degrees)C and operation at higher temperatures would reduce cost and increase efficiency. FuelCell Energy's high temperature experience from its carbonate and solid oxide fuel cell programs and the development of highly functionalized fuel cell membranes for phosphoric-acid and PEM fuel cells over the past 20 years make it uniquely qualified for this project.
The project award is part of a broader program announced on Jan. 24, 2006, by Energy Secretary Samuel W. Bodman totaling $119 million in funding and including a roadmap aimed at identifying and overcoming the technical and manufacturing challenges associated with the further development of commercially available hydrogen fuel cell vehicles. The DOE will provide $100 million over four years for additional research projects seeking to improve fuel cell membranes, water transport within the stack, advanced cathode catalysts and supports, cell hardware, innovative fuel cell concepts, and effects of impurities on fuel cell performance and durability.
"Investment in fuel cell and hydrogen research today will enable America to lead the world in developing clean, hydrogen powered automobiles that will reduce our dependence on imported oil," said Secretary Bodman. "This funding will help overcome the technical barriers and bring hydrogen and fuel cell technology from the laboratory to the showroom."
"This project award by the DOE recognizes our expertise in all fuel cell research and development," said R. Daniel Brdar, President and CEO of FuelCell Energy. "It shows that we are a part of this nation's drive for high efficiency and environmentally responsible power generation to help attain the country's goal of reducing harmful emissions and increasing energy independence."
Last week's announcement is part of the $1.2 billion Hydrogen Fuel Initiative announced by President Bush in his 2003 State of the Union Address. This initiative has the potential to reverse America's growing dependence on foreign oil by developing the technology for commercially viable hydrogen-powered fuel cells - a way to power cars, trucks, homes and businesses that produce no pollution and no greenhouse gases.
About FuelCell Energy
FuelCell Energy Inc. develops and markets ultra-clean power plants that generate electricity and heat with higher efficiency than conventional fossil fuel plants and with virtually no air pollution. Fuel cells produce base load electricity giving commercial and industrial customers greater control over their power generation economics, reliability and emissions. Emerging state, federal and international regulations to reduce harmful greenhouse gas emissions consider fuel cell power plants in the same environmentally friendly category as wind and solar energy sources -- with the added advantages of running 24 hours a day and the capacity to be installed where wind turbines or solar panels often cannot. Headquartered in Danbury, Conn., FuelCell Energy services over 40 power generation sites around the globe that have produced more than 80 million kilowatt hours, and conducts R&D on next-generation fuel cell technologies to meet the world's ever-increasing demand for ultra-clean distributed energy. For more information on the company, its products and its worldwide commercial distribution alliances, please see www.fuelcellenergy.com.
Direct FuelCell, DFC and DFC/Turbine are registered trademarks of FuelCell Energy, Inc. All other trademarks are the property of their respective owners.
This news release contains forward-looking statements, including statements regarding the Company's plans and expectations regarding the development and commercialization of its fuel cell technology. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause such a difference include, without limitation, the risk that commercial field trials of the Company's products will not occur when anticipated, general risks associated with product development, manufacturing, changes in the utility regulatory environment, potential volatility of energy prices, rapid technological change, and competition, as well as other risks set forth in the Company's filings with the Securities and Exchange Commission. The forward-looking statements contained herein speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based.
CONTACT: FuelCell Energy, Inc.
Investors and Media:
Steven P. Eschbach, CFA, 203-825-6000
seschbach@fce.com
SOURCE: FuelCell Energy, Inc.
Wednesday, February 01, 2006
Bush tells US to address oil addiction. 01/02/2006. ABC News Online
US President George W Bush says "America is addicted to oil" and must change its ways.
In his State of the Union speech President Bush promised aggressive US engagement around the world in defiance of critics.
President Bush has taken the centre stage in the House of Representatives chamber to map out an election-year agenda for Republicans, vowing to make progress in Iraq and provide a way to reduce soaring gasoline prices, two issues that have combined to batter his job approval ratings.
With oil prices close to record levels and Exxon reporting record profits of $US10.7 billion in the fourth quarter of 2005, the former oilman highlighted the need to improve technologies in order to reduce US oil imports.
"America is addicted to oil, which is often imported from unstable parts of the world," President Bush said.
"The best way to break this addiction is through technology."
With three years left in office, President Bush is hoping to lift his political fortunes and those of his Republican allies in an election year with control of Congress up for grabs.
He is coming off one of the toughest stretches of his presidency, and his job approval ratings hover in the high 30s to low 40s in most polls.
Iraq
On Iraq, President Bush argued against those Democrats who have been calling for a timetable for a phased redeployment of US troops in Iraq, saying a "sudden withdrawal of our forces from Iraq would abandon our Iraqi allies to death and prison".
"However we feel about the decisions and debates of the past, our nation has only one option: We must keep our word, defeat our enemies, and stand behind the American military in its vital mission," he said.
On Iran, President Bush said "the world must not permit" Tehran to develop a nuclear weapon.
He said Iran is being "held hostage" by Islamic clerics and that the United States hopes one day to be friends with a free and democratic Iran.
President Bush laid down what might ultimately be conditions for US relations with Hamas, the Islamic militant group that won a stunning victory in Palestinian elections last week.
"The Palestinian people have voted in elections, now the leaders of Hamas must recognise Israel, disarm, reject terrorism and work for lasting peace," President Bush said.
- Reuters
US President George W Bush says "America is addicted to oil" and must change its ways.
In his State of the Union speech President Bush promised aggressive US engagement around the world in defiance of critics.
President Bush has taken the centre stage in the House of Representatives chamber to map out an election-year agenda for Republicans, vowing to make progress in Iraq and provide a way to reduce soaring gasoline prices, two issues that have combined to batter his job approval ratings.
With oil prices close to record levels and Exxon reporting record profits of $US10.7 billion in the fourth quarter of 2005, the former oilman highlighted the need to improve technologies in order to reduce US oil imports.
"America is addicted to oil, which is often imported from unstable parts of the world," President Bush said.
"The best way to break this addiction is through technology."
With three years left in office, President Bush is hoping to lift his political fortunes and those of his Republican allies in an election year with control of Congress up for grabs.
He is coming off one of the toughest stretches of his presidency, and his job approval ratings hover in the high 30s to low 40s in most polls.
Iraq
On Iraq, President Bush argued against those Democrats who have been calling for a timetable for a phased redeployment of US troops in Iraq, saying a "sudden withdrawal of our forces from Iraq would abandon our Iraqi allies to death and prison".
"However we feel about the decisions and debates of the past, our nation has only one option: We must keep our word, defeat our enemies, and stand behind the American military in its vital mission," he said.
On Iran, President Bush said "the world must not permit" Tehran to develop a nuclear weapon.
He said Iran is being "held hostage" by Islamic clerics and that the United States hopes one day to be friends with a free and democratic Iran.
President Bush laid down what might ultimately be conditions for US relations with Hamas, the Islamic militant group that won a stunning victory in Palestinian elections last week.
"The Palestinian people have voted in elections, now the leaders of Hamas must recognise Israel, disarm, reject terrorism and work for lasting peace," President Bush said.
- Reuters
Quantum Delivers Hydrogen Hybrids
Quantum Fuel Systems Technologies Worldwide, Inc. has delivered five hydrogen-fueled Toyota Prius hybrid vehicles to the City of Santa Ana, California. These hydrogen fueled internal combustion engine hybrids are designed to stimulate demand for hydrogen, speed the development of a hydrogen infrastructure and function as a bridge vehicle technology to hydrogen fuel cells.
The complete hydrogen internal combustion engine fuel system, including both the injection system and hydrogen storage system, was developed by Quantum at its Advanced Vehicle Concept Center in Lake Forest, CA. Included in the fuel systems are the company’s patented fuel injectors, fuel rails, electronic control system and software, hydrogen storage, and an optimized turbocharger. In addition to performing in specified starting conditions and meeting certain drivability specifications, the vehicles have been designed and tested to achieve SULEV (Super Ultra Low Emissions Vehicle) emissions standards.
Quantum Fuel Systems Technologies Worldwide, Inc. has delivered five hydrogen-fueled Toyota Prius hybrid vehicles to the City of Santa Ana, California. These hydrogen fueled internal combustion engine hybrids are designed to stimulate demand for hydrogen, speed the development of a hydrogen infrastructure and function as a bridge vehicle technology to hydrogen fuel cells.
The complete hydrogen internal combustion engine fuel system, including both the injection system and hydrogen storage system, was developed by Quantum at its Advanced Vehicle Concept Center in Lake Forest, CA. Included in the fuel systems are the company’s patented fuel injectors, fuel rails, electronic control system and software, hydrogen storage, and an optimized turbocharger. In addition to performing in specified starting conditions and meeting certain drivability specifications, the vehicles have been designed and tested to achieve SULEV (Super Ultra Low Emissions Vehicle) emissions standards.
Bush vows to face dangers head on
President George W Bush has warned of "danger and decline" if the US fails to face up to threats posed by terrorists, in his State of the Union address.
He said the US would fight to defend freedom, whose advance was "the great story of our time".
Security issues were a dominant theme of Mr Bush's fifth such address, at the start of a critical election year for his Republican party.
He also demanded a human cloning ban and said the US was "addicted to oil".
He said the nation it must break its addiction "through technology", and said he would seek a 22% increase in funding for clean energy research.
'Decisive year'
According to Mr Bush: "The American economy is pre-eminent - but we cannot afford to be complacent. In a dynamic world economy, we are seeing new competitors like China and India."
The only way to control our destiny is by our leadership
President George W Bush
A key part of the president's message focused on pushing the US as a world leader in what he calls a "decisive year".
"The road of isolationism and protectionism may seem broad and inviting - yet it ends in danger and decline," according to the president.
"The only way to protect our people... the only way to secure the peace... the only way to control our destiny is by our leadership."
The State of the Union speech is required by the US constitution
Mr Bush has been enduring a prolonged slump in public support amid ongoing conflict in Iraq and political strife at home, with his approval ratings hovering around 41%.
Correspondents say he has suffered a series of embarrassments in domestic policy during the past 12 months, and that few of the reforms touted in last year's speech have been achieved.
The president was also criticised amid administration mishandling of the devastating aftermath of Hurricane Katrina, which hit the Gulf Coast in August.
A series of scandals have increased domestic pressure on the Republicans, who are defending a majority of seats in both houses of Congress in mid-term elections this November.
Besides being closely watched by millions of people in the United States, the speech is also being aimed at the outside world, with the state department website broadcasting it live, translated into a variety of languages, including Farsi, which is widely spoken in Iran and Afghanistan.
President George W Bush has warned of "danger and decline" if the US fails to face up to threats posed by terrorists, in his State of the Union address.
He said the US would fight to defend freedom, whose advance was "the great story of our time".
Security issues were a dominant theme of Mr Bush's fifth such address, at the start of a critical election year for his Republican party.
He also demanded a human cloning ban and said the US was "addicted to oil".
He said the nation it must break its addiction "through technology", and said he would seek a 22% increase in funding for clean energy research.
'Decisive year'
According to Mr Bush: "The American economy is pre-eminent - but we cannot afford to be complacent. In a dynamic world economy, we are seeing new competitors like China and India."
The only way to control our destiny is by our leadership
President George W Bush
A key part of the president's message focused on pushing the US as a world leader in what he calls a "decisive year".
"The road of isolationism and protectionism may seem broad and inviting - yet it ends in danger and decline," according to the president.
"The only way to protect our people... the only way to secure the peace... the only way to control our destiny is by our leadership."
The State of the Union speech is required by the US constitution
Mr Bush has been enduring a prolonged slump in public support amid ongoing conflict in Iraq and political strife at home, with his approval ratings hovering around 41%.
Correspondents say he has suffered a series of embarrassments in domestic policy during the past 12 months, and that few of the reforms touted in last year's speech have been achieved.
The president was also criticised amid administration mishandling of the devastating aftermath of Hurricane Katrina, which hit the Gulf Coast in August.
A series of scandals have increased domestic pressure on the Republicans, who are defending a majority of seats in both houses of Congress in mid-term elections this November.
Besides being closely watched by millions of people in the United States, the speech is also being aimed at the outside world, with the state department website broadcasting it live, translated into a variety of languages, including Farsi, which is widely spoken in Iran and Afghanistan.
Euronext - Bedrijfsnieuws > Persberichten > (Euronext Paris) - Air Liquide : Launch of the HYCHAIN Project:150 hydrogen vehicles to be tested in 4 regions of Europe: "The European Union has committed to using 20% alternative fuels by 2020 to address two goals: to reduce its member States� dependence on fossil fuels (petroleum, natural gas, coal) and to limit emissions of greenhouse gases and other pollutants, responsible for climate change and some respiratory illnesses.
Using hydrogen as a source of energy is a promising alternative solution. Used in a fuel cell, hydrogen combines with oxygen from the air to produce electricity, with water as the only emission, and has tremendous potential to provide clean and silent energy.
Today, only several hundred prototype vehicles powered by hydrogen fuel-cells are on the road across the world. In addition to their high cost, their widespread use is also curbed by their restricted operating range and by a limited infrastructure for hydrogen distribution, essentially a few dozen �pilot service stations� where it is possible to �fill up� with hydrogen.
The HYCHAIN-MINITRANS Project will allow users in four regions of the European Union to test 150 full size electrically-powered vehicles fuelled by hydrogen fuel cells: scooters, tricycles, wheelchairs, small utility vehicles and minibuses. The initial priority will be fleets belonging to municipal departments in the partner cities (maintenance workers, gardeners, etc.) as well as wheelchairs in use in partnership with some hospitals in the Rh�ne-Alpes region of France (the greater urban community of Grenoble Alpes M�tropole), Emilia Romagna in Italy (city of Modena), Castilla y Le�n in Spain (cities of Soria and Le�n) and Nordrhein Westfalen in Germany "
Using hydrogen as a source of energy is a promising alternative solution. Used in a fuel cell, hydrogen combines with oxygen from the air to produce electricity, with water as the only emission, and has tremendous potential to provide clean and silent energy.
Today, only several hundred prototype vehicles powered by hydrogen fuel-cells are on the road across the world. In addition to their high cost, their widespread use is also curbed by their restricted operating range and by a limited infrastructure for hydrogen distribution, essentially a few dozen �pilot service stations� where it is possible to �fill up� with hydrogen.
The HYCHAIN-MINITRANS Project will allow users in four regions of the European Union to test 150 full size electrically-powered vehicles fuelled by hydrogen fuel cells: scooters, tricycles, wheelchairs, small utility vehicles and minibuses. The initial priority will be fleets belonging to municipal departments in the partner cities (maintenance workers, gardeners, etc.) as well as wheelchairs in use in partnership with some hospitals in the Rh�ne-Alpes region of France (the greater urban community of Grenoble Alpes M�tropole), Emilia Romagna in Italy (city of Modena), Castilla y Le�n in Spain (cities of Soria and Le�n) and Nordrhein Westfalen in Germany "
Tuesday, January 31, 2006
Tasmanian company to install renewable energy at Maatsuyker Island - Judy Jackson, MHA - Tasmanian Government Media Releases
The State Government will spend $103,572 to reduce greenhouse emissions at Maatsuyker Island by installing renewable energy equipment.
Parks and Heritage Minister Judy Jackson said a combination of wind, solar and diesel generated energy would provide more efficient and reliable electricity for the island, and will greatly reduce the use of diesel fuel.
“Hydro Tasmania will manage the project, with work to be carried out by Power Plus, a Tasmanian renewable energy systems installer,” she said.
Ms Jackson said that Maatsuyker Island had special significance as a lighthouse, area and source of data for the Bureau of Meteorology.
The new power source would also contribute to the island’s status as a valuable scientific resource, as part of Tasmania’s Southwest National Park and the Tasmanian Wilderness World Heritage Area.
“At the moment, all the island’s electricity is provided through a diesel-powered generator, with diesel brought in by air”, Ms Jackson said.
“There are problems with blackouts, and with fuel supply in bad weather.
“Installation of a hybrid system, predominately using wind and solar energy sources, will improve conditions for the volunteer caretakers on Maatsuyker, reduce running costs and reduce greenhouse emissions”.
The Australian Government, through the Renewable Remote Power Generation Program (RRPGP), would contribute $53,073 to the project.
This initiative is part of the State Government’s commitment to progressing
Tasmania Together Goal 21 – Value, protect and conserve our natural and cultural heritage.
Carbon emission targets delayed by government row
Patrick Wintour, chief political correspondent
Tuesday January 31, 2006
The Guardian
The government's strategy to cut carbon dioxide emissions in the battle against climate change has been paralysed for seven months by a dispute between two Whitehall departments.
Labour has pledged in three successive manifestos that by 2010 it will cut the UK's CO2 emissions by 20% below 1990 levels. The promise has reached almost totemic status in the party.
But publication of a programme to meet the targets has been held up, with the Department of Trade and Industry arguing that emissions have risen at such a rate over the past two years that it is unlikely Britain can meet the target. The DTI's latest projections show that, on current measures, CO2 will have been reduced to "only around 10% below 1990 levels by 2010".
But the Department for Environment, Food and Rural Affairs, armed with less statistical and economic modelling firepower than the DTI, is contesting the figures, and insists the target can still be met by vigorous action.
Ministers are frustrated by the delay since the postponements reduce the government's chance of meeting its 2010 target. They fear that the UK's claim to international leadership on climate change is being undermined.
In an attempt to step up pressure on No 10, ministers warn that David Cameron, the Tory leader, is putting the environment at the heart of his repositioning of his party. Mr Blair has taken a strong position on climate change, but privately believes Mr Cameron's promise to cut carbon emissions year on year is unrealisable.
The inability of two key Whitehall departments to agree on the way ahead in such a crucial area of policy comes amid renewed warnings that the dangers posed by climate change are more serious than previously thought. The environment secretary, Margaret Beckett, yesterday published the findings of a study initially prepared by international scientists for a conference convened by the government as president of the G8 last February. It includes evidence from the head of the British Antarctic Survey, Professor Chris Rapley, that the west Antarctic ice sheet may be starting to disintegrate. Scientists believe that would raise sea levels around the world by 16ft (5 metres), with disastrous consequences around the world.
The government announced its review into its UK domestic climate change programme in September 2004, admitting it was not on course to meet the commitment to cut CO2 by 20% by 2010. A consultation document was published in December 2004 and most of the consultancy work completed last spring. The review, originally to be published last summer, is now due "early this year". But Mrs Beckett, under pressure from an all-party alliance on climate change, was unable yesterday to say precisely when it would be published.
The government is still likely to fulfil a separate but less ambitious pledge to cut greenhouse gas emissions by 12.5% by 2008-12, which would meet its commitment under the Kyoto protocol.
It is understood there have been technical disputes in Whitehall about measuring carbon emissions, including the true base level of emissions in 1990. The review is also being held up by uncertainties over the contribution Britain can make to the second round of the EU carbon trading emissions scheme, due to start in 2008 and end in 2012.
Each EU country is to send the EU commission details of how it intends to meet a national allocation plan by this summer. The plan fixes the total amount of CO2 that can be emitted by all the installations in each country covered by the scheme, as well as the number of emission allowances allocated to each individual installation.
In the domestic climate change programme, ministers have been looking at a range of options including tougher building regulations, higher vehicle excise duty on polluting cars and cuts in council tax to give incentives for domestic energy efficiency. The options are limited as businesses have already cut emissions, but carbon emissions from transport are projected to have gone up by 16% between 1990 and 2010, even though average fuel efficiency has also risen. More nuclear power, the subject of a separate government review, could not contribute to the 2010 target since no new stations could come on stream so quickly.
The Liberal Democrat environment spokesman, Norman Baker, said last night: "There is a genuine problem about measuring carbon emissions in a credible way but I fear there are some in government, especially in the DTI and in No 10, that are quite happy to postpone decisions on climate change. The longer the delay the more difficult it is to meet the target. They are quite happy to talk about the importance of climate change, but not to take any action if it means they are going to lose votes."
For the Tories, Peter Ainsworth, the shadow environment secretary, said: "Every day the news on climate change gets worse, but the UK's contribution to the problem keeps going up. How many more warnings does the government need before it takes effective action to cut emissions? The science is clear, now we've actually got to do something about it. I urge the government to restate its absolute commitment to cutting emissions by 20% by 2010 and 60% by 2050, and to give us a firm date for the delayed climate change programme review.
"Britain is capable of playing a major role in helping to achieve a more stable and secure planet but we must put our own house in order first."
Patrick Wintour, chief political correspondent
Tuesday January 31, 2006
The Guardian
The government's strategy to cut carbon dioxide emissions in the battle against climate change has been paralysed for seven months by a dispute between two Whitehall departments.
Labour has pledged in three successive manifestos that by 2010 it will cut the UK's CO2 emissions by 20% below 1990 levels. The promise has reached almost totemic status in the party.
But publication of a programme to meet the targets has been held up, with the Department of Trade and Industry arguing that emissions have risen at such a rate over the past two years that it is unlikely Britain can meet the target. The DTI's latest projections show that, on current measures, CO2 will have been reduced to "only around 10% below 1990 levels by 2010".
But the Department for Environment, Food and Rural Affairs, armed with less statistical and economic modelling firepower than the DTI, is contesting the figures, and insists the target can still be met by vigorous action.
Ministers are frustrated by the delay since the postponements reduce the government's chance of meeting its 2010 target. They fear that the UK's claim to international leadership on climate change is being undermined.
In an attempt to step up pressure on No 10, ministers warn that David Cameron, the Tory leader, is putting the environment at the heart of his repositioning of his party. Mr Blair has taken a strong position on climate change, but privately believes Mr Cameron's promise to cut carbon emissions year on year is unrealisable.
The inability of two key Whitehall departments to agree on the way ahead in such a crucial area of policy comes amid renewed warnings that the dangers posed by climate change are more serious than previously thought. The environment secretary, Margaret Beckett, yesterday published the findings of a study initially prepared by international scientists for a conference convened by the government as president of the G8 last February. It includes evidence from the head of the British Antarctic Survey, Professor Chris Rapley, that the west Antarctic ice sheet may be starting to disintegrate. Scientists believe that would raise sea levels around the world by 16ft (5 metres), with disastrous consequences around the world.
The government announced its review into its UK domestic climate change programme in September 2004, admitting it was not on course to meet the commitment to cut CO2 by 20% by 2010. A consultation document was published in December 2004 and most of the consultancy work completed last spring. The review, originally to be published last summer, is now due "early this year". But Mrs Beckett, under pressure from an all-party alliance on climate change, was unable yesterday to say precisely when it would be published.
The government is still likely to fulfil a separate but less ambitious pledge to cut greenhouse gas emissions by 12.5% by 2008-12, which would meet its commitment under the Kyoto protocol.
It is understood there have been technical disputes in Whitehall about measuring carbon emissions, including the true base level of emissions in 1990. The review is also being held up by uncertainties over the contribution Britain can make to the second round of the EU carbon trading emissions scheme, due to start in 2008 and end in 2012.
Each EU country is to send the EU commission details of how it intends to meet a national allocation plan by this summer. The plan fixes the total amount of CO2 that can be emitted by all the installations in each country covered by the scheme, as well as the number of emission allowances allocated to each individual installation.
In the domestic climate change programme, ministers have been looking at a range of options including tougher building regulations, higher vehicle excise duty on polluting cars and cuts in council tax to give incentives for domestic energy efficiency. The options are limited as businesses have already cut emissions, but carbon emissions from transport are projected to have gone up by 16% between 1990 and 2010, even though average fuel efficiency has also risen. More nuclear power, the subject of a separate government review, could not contribute to the 2010 target since no new stations could come on stream so quickly.
The Liberal Democrat environment spokesman, Norman Baker, said last night: "There is a genuine problem about measuring carbon emissions in a credible way but I fear there are some in government, especially in the DTI and in No 10, that are quite happy to postpone decisions on climate change. The longer the delay the more difficult it is to meet the target. They are quite happy to talk about the importance of climate change, but not to take any action if it means they are going to lose votes."
For the Tories, Peter Ainsworth, the shadow environment secretary, said: "Every day the news on climate change gets worse, but the UK's contribution to the problem keeps going up. How many more warnings does the government need before it takes effective action to cut emissions? The science is clear, now we've actually got to do something about it. I urge the government to restate its absolute commitment to cutting emissions by 20% by 2010 and 60% by 2050, and to give us a firm date for the delayed climate change programme review.
"Britain is capable of playing a major role in helping to achieve a more stable and secure planet but we must put our own house in order first."
Carbon emission targets delayed by government row
Patrick Wintour, chief political correspondent
Tuesday January 31, 2006
The Guardian
The government's strategy to cut carbon dioxide emissions in the battle against climate change has been paralysed for seven months by a dispute between two Whitehall departments.
Labour has pledged in three successive manifestos that by 2010 it will cut the UK's CO2 emissions by 20% below 1990 levels. The promise has reached almost totemic status in the party.
But publication of a programme to meet the targets has been held up, with the Department of Trade and Industry arguing that emissions have risen at such a rate over the past two years that it is unlikely Britain can meet the target. The DTI's latest projections show that, on current measures, CO2 will have been reduced to "only around 10%
But the Department for Environment, Food and Rural Affairs, armed with less statistical and economic modelling firepower than the DTI, is contesting the figures, and insists the target can still be met by vigorous action.
Ministers are frustrated by the delay since the postponements reduce the government's chance of meeting its 2010 target. They fear that the UK's claim to international leadership on climate change is being undermined.
In an attempt to step up pressure on No 10, ministers warn that David Cameron, the Tory leader, is putting the environment at the heart of his repositioning of his party. Mr Blair has taken a strong position on climate change, but privately believes Mr Cameron's promise to cut carbon emissions year on year is unrealisable.
The inability of two key Whitehall departments to agree on the way ahead in such a crucial area of policy comes amid renewed warnings that the dangers posed by climate change are more serious than previously thought. The environment secretary, Margaret Beckett, yesterday published the findings of a study initially prepared by international scientists for a conference convened by the government as president of the G8 last February. It includes evidence from the head of the British Antarctic Survey, Professor Chris Rapley, that the west Antarctic ice sheet may be starting to disintegrate. Scientists believe that would raise sea levels around the world by 16ft (5 metres), with disastrous consequences around the world.
The government announced its review into its UK domestic climate change programme in September 2004, admitting it was not on course to meet the commitment to cut CO2 by 20% by 2010. A consultation document was published in December 2004 and most of the consultancy work completed last spring. The review, originally to be published last summer, is now due "early this year". But Mrs Beckett, under pressure from an all-party alliance on climate change, was unable yesterday to say precisely when it would be published.
The government is still likely to fulfil a separate but less ambitious pledge to cut greenhouse gas emissions by 12.5% by 2008-12, which would meet its commitment under the Kyoto protocol.
It is understood there have been technical disputes in Whitehall about measuring carbon emissions, including the true base level of emissions in 1990. The review is also being held up by uncertainties over the contribution Britain can make to the second round of the EU carbon trading emissions scheme, due to start in 2008 and end in 2012.
Each EU country is to send the EU commission details of how it intends to meet a national allocation plan by this summer. The plan fixes the total amount of CO2 that can be emitted by all the installations in each country covered by the scheme, as well as the number of emission allowances allocated to each individual installation.
In the domestic climate change programme, ministers have been looking at a range of options including tougher building regulations, higher vehicle excise duty on polluting cars and cuts in council tax to give incentives for domestic energy efficiency. The options are limited as businesses have already cut emissions, but carbon emissions from transport are projected to have gone up by 16% between 1990 and 2010, even though average fuel efficiency has also risen. More nuclear power, the subject of a separate government review, could not contribute to the 2010 target since no new stations could come on stream so quickly.
The Liberal Democrat environment spokesman, Norman Baker, said last night: "There is a genuine problem about measuring carbon emissions in a credible way but I fear there are some in government, especially in the DTI and in No 10, that are quite happy to postpone decisions on climate change. The longer the delay the more difficult it is to meet the target. They are quite happy to talk about the importance of climate change, but not to take any action if it means they are going to lose votes."
For the Tories, Peter Ainsworth, the shadow environment secretary, said: "Every day the news on climate change gets worse, but the UK's contribution to the problem keeps going up. How many more warnings does the government need before it takes effective action to cut emissions? The science is clear, now we've actually got to do something about it. I urge the government to restate its absolute commitment to cutting emissions by 20% by 2010 and 60% by 2050, and to give us a firm date for the delayed climate change programme review.
"Britain is capable of playing a major role in helping to achieve a more stable and secure planet but we must put our own house in order first."
below 1990 levels by 2010".
Patrick Wintour, chief political correspondent
Tuesday January 31, 2006
The Guardian
The government's strategy to cut carbon dioxide emissions in the battle against climate change has been paralysed for seven months by a dispute between two Whitehall departments.
Labour has pledged in three successive manifestos that by 2010 it will cut the UK's CO2 emissions by 20% below 1990 levels. The promise has reached almost totemic status in the party.
But publication of a programme to meet the targets has been held up, with the Department of Trade and Industry arguing that emissions have risen at such a rate over the past two years that it is unlikely Britain can meet the target. The DTI's latest projections show that, on current measures, CO2 will have been reduced to "only around 10%
But the Department for Environment, Food and Rural Affairs, armed with less statistical and economic modelling firepower than the DTI, is contesting the figures, and insists the target can still be met by vigorous action.
Ministers are frustrated by the delay since the postponements reduce the government's chance of meeting its 2010 target. They fear that the UK's claim to international leadership on climate change is being undermined.
In an attempt to step up pressure on No 10, ministers warn that David Cameron, the Tory leader, is putting the environment at the heart of his repositioning of his party. Mr Blair has taken a strong position on climate change, but privately believes Mr Cameron's promise to cut carbon emissions year on year is unrealisable.
The inability of two key Whitehall departments to agree on the way ahead in such a crucial area of policy comes amid renewed warnings that the dangers posed by climate change are more serious than previously thought. The environment secretary, Margaret Beckett, yesterday published the findings of a study initially prepared by international scientists for a conference convened by the government as president of the G8 last February. It includes evidence from the head of the British Antarctic Survey, Professor Chris Rapley, that the west Antarctic ice sheet may be starting to disintegrate. Scientists believe that would raise sea levels around the world by 16ft (5 metres), with disastrous consequences around the world.
The government announced its review into its UK domestic climate change programme in September 2004, admitting it was not on course to meet the commitment to cut CO2 by 20% by 2010. A consultation document was published in December 2004 and most of the consultancy work completed last spring. The review, originally to be published last summer, is now due "early this year". But Mrs Beckett, under pressure from an all-party alliance on climate change, was unable yesterday to say precisely when it would be published.
The government is still likely to fulfil a separate but less ambitious pledge to cut greenhouse gas emissions by 12.5% by 2008-12, which would meet its commitment under the Kyoto protocol.
It is understood there have been technical disputes in Whitehall about measuring carbon emissions, including the true base level of emissions in 1990. The review is also being held up by uncertainties over the contribution Britain can make to the second round of the EU carbon trading emissions scheme, due to start in 2008 and end in 2012.
Each EU country is to send the EU commission details of how it intends to meet a national allocation plan by this summer. The plan fixes the total amount of CO2 that can be emitted by all the installations in each country covered by the scheme, as well as the number of emission allowances allocated to each individual installation.
In the domestic climate change programme, ministers have been looking at a range of options including tougher building regulations, higher vehicle excise duty on polluting cars and cuts in council tax to give incentives for domestic energy efficiency. The options are limited as businesses have already cut emissions, but carbon emissions from transport are projected to have gone up by 16% between 1990 and 2010, even though average fuel efficiency has also risen. More nuclear power, the subject of a separate government review, could not contribute to the 2010 target since no new stations could come on stream so quickly.
The Liberal Democrat environment spokesman, Norman Baker, said last night: "There is a genuine problem about measuring carbon emissions in a credible way but I fear there are some in government, especially in the DTI and in No 10, that are quite happy to postpone decisions on climate change. The longer the delay the more difficult it is to meet the target. They are quite happy to talk about the importance of climate change, but not to take any action if it means they are going to lose votes."
For the Tories, Peter Ainsworth, the shadow environment secretary, said: "Every day the news on climate change gets worse, but the UK's contribution to the problem keeps going up. How many more warnings does the government need before it takes effective action to cut emissions? The science is clear, now we've actually got to do something about it. I urge the government to restate its absolute commitment to cutting emissions by 20% by 2010 and 60% by 2050, and to give us a firm date for the delayed climate change programme review.
"Britain is capable of playing a major role in helping to achieve a more stable and secure planet but we must put our own house in order first."
below 1990 levels by 2010".
Australian utility to build country's biggest wind farm - Yahoo! News
SYDNEY (AFP) - Australian Gas Light Company (AGL) announced that it would build the country's largest wind farm as part of efforts to meet its legal obligation to invest in renewable energy.
AGL, Australia's biggest energy retailer, said the 95 megawatt facility would cost 236 million dollars (177 million US dollars) and use 45 wind turbines over an area of 14 square kilometers (5.6 square miles) near the town of Hallett in South Australia.
The wind farm will be adjacent to an existing 180 megawatt gas-fired peaking power plant operated by AGL and is scheduled to be commissioned in December 2007, it said.
The wind turbines will be integrated with the gas-fired power station by using existing infrastructure, ensuring continuous operation during periods of high electricity demand.
AGL chief executive Greg Martin said the project would help the company meet its commitment to increase the amount of electricity generated from renewable sources.
It will also contribute to AGL's obligations under the federal government's mandatory renewable energy target scheme.
Construction of the wind farm is expected to start in September 2006.
Australia's largest wind farm now is a 91 megawatt facility at Wattle Point in South Australia, which AGL also owns following its acquisition of Southern Hydro in October 2005.
AGL last year announced plans to demerge its retail and merchant energy assets from its infrastructure assets into two separate businesses, AGL Energy and AGL Infrastructure.
It said Tuesday that the two new companies planned to cooperate in the building and operation of additional wind farms.
Plans for the new wind farm projects would be elaborated after the demerger plan is presented to shareholders for approval in March, it said.
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SYDNEY (AFP) - Australian Gas Light Company (AGL) announced that it would build the country's largest wind farm as part of efforts to meet its legal obligation to invest in renewable energy.
AGL, Australia's biggest energy retailer, said the 95 megawatt facility would cost 236 million dollars (177 million US dollars) and use 45 wind turbines over an area of 14 square kilometers (5.6 square miles) near the town of Hallett in South Australia.
The wind farm will be adjacent to an existing 180 megawatt gas-fired peaking power plant operated by AGL and is scheduled to be commissioned in December 2007, it said.
The wind turbines will be integrated with the gas-fired power station by using existing infrastructure, ensuring continuous operation during periods of high electricity demand.
AGL chief executive Greg Martin said the project would help the company meet its commitment to increase the amount of electricity generated from renewable sources.
It will also contribute to AGL's obligations under the federal government's mandatory renewable energy target scheme.
Construction of the wind farm is expected to start in September 2006.
Australia's largest wind farm now is a 91 megawatt facility at Wattle Point in South Australia, which AGL also owns following its acquisition of Southern Hydro in October 2005.
AGL last year announced plans to demerge its retail and merchant energy assets from its infrastructure assets into two separate businesses, AGL Energy and AGL Infrastructure.
It said Tuesday that the two new companies planned to cooperate in the building and operation of additional wind farms.
Plans for the new wind farm projects would be elaborated after the demerger plan is presented to shareholders for approval in March, it said.
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Oil & Gas Journal - MARKET WATCH
Supply worries boost energy prices
HOUSTON, Jan. 30 -- Energy prices climbed Jan. 27 as traders shrugged off earlier bearish reports of US inventories to position themselves ahead of the weekend for possible disruptions of crude supplies.
"Despite a surprise build in US gasoline and product inventories last week, which was more of a bearish outcome than the unanticipated drop in crude inventories, supply concerns due largely to the nuclear stand-off with Iran and to a lesser extent the violence in Nigeria continued to lend significant support to oil prices," said Robert S. Morris at Banc of America Securities LLC, New York. "Also, the unanticipated victory by the Palestinian terrorist group Hamas only added to tensions in the Middle East."
Escalation of the nuclear dispute with Iran involving the US and Europe has "substantially increased the odds of a meaningful oil supply interruption" in the next 2 years, said analysts at Raymond James & Associates Inc., St. Petersburg, Fla.
In a Jan. 30 report, Morris noted two key meetings this week. The first is the scheduled Jan. 31 meeting of ministers of the Organization of Petroleum Exporting Countries in Vienna. Based on previous statements by several of those ministers, markets already assume OPEC will not increase its production in the second quarter with prices now above $60/bbl and continued geopolitical tensions.
Moreover, the International Atomic Energy Agency, the United Nations' nuclear watchdog, is to meet Feb. 2-3. "The US has insisted that Iran be referred to the UN Security Council for possible sanctions while Iran's weapon of last resort is [possible curtailment of] its 2.4 million b/d of crude oil output if the UN were to impose sanctions, which both China and Russia still oppose," said Morris.
Industry sources said OPEC production was unchanged at 29.6 million b/d in January compared with revised figures for December. Royal Dutch Shell PLC earlier this month shut in production of 221,000 b/d of crude because of attacks by militants on its facilities in Nigeria (OGJ Online, Jan. 25, 2006). Saudi Arabia made up some of that loss, sources said. Meanwhile, there were reports that four workers kidnapped by militants from Shell facilities in Nigeria may be freed soon.
Energy prices
The March contract for benchmark US light, sweet crudes climbed by $1.50 to $67.76/bbl Jan. 27 on the New York Mercantile Exchange. The April contract increased by $1.53 to $68.52/bbl. On the US spot market, West Texas Intermediate at Cushing, Okla., was up by $1.53 to $67.77/bbl. However, if oil prices fall 10-20% from current levels over the coming months, "there is a strong possibility that energy stocks get pulled down with oil," warned Raymond James analysts.
Gasoline for February delivery escalated by 5.21¢ to $1.74/gal on NYMEX. Heating oil for the same month increased by 2.89¢ to $1.81/gal. The February contract for natural gas gained 17.1¢ to $8.40/MMbtu. "Falling oil prices could put further pressure on gas prices that are already depressed due to unfavorable weather," said Raymond James.
In London, the March contract for North Sea Brent crude increased by $1.32 to $66.24/bbl on the International Petroleum Exchange. The February gas oil contract gained $4.75 to $554.50/tonne.
The average price for OPEC's basket of 11 benchmark crudes increased by 92¢ to $60.22/bbl on Jan. 27. So far this year, OPEC's basket price has averaged $57.80/bbl, up from an average $50.64/bbl for all of 2005.
Contact Sam Fletcher at samf@ogjonline.com.
Supply worries boost energy prices
HOUSTON, Jan. 30 -- Energy prices climbed Jan. 27 as traders shrugged off earlier bearish reports of US inventories to position themselves ahead of the weekend for possible disruptions of crude supplies.
"Despite a surprise build in US gasoline and product inventories last week, which was more of a bearish outcome than the unanticipated drop in crude inventories, supply concerns due largely to the nuclear stand-off with Iran and to a lesser extent the violence in Nigeria continued to lend significant support to oil prices," said Robert S. Morris at Banc of America Securities LLC, New York. "Also, the unanticipated victory by the Palestinian terrorist group Hamas only added to tensions in the Middle East."
Escalation of the nuclear dispute with Iran involving the US and Europe has "substantially increased the odds of a meaningful oil supply interruption" in the next 2 years, said analysts at Raymond James & Associates Inc., St. Petersburg, Fla.
In a Jan. 30 report, Morris noted two key meetings this week. The first is the scheduled Jan. 31 meeting of ministers of the Organization of Petroleum Exporting Countries in Vienna. Based on previous statements by several of those ministers, markets already assume OPEC will not increase its production in the second quarter with prices now above $60/bbl and continued geopolitical tensions.
Moreover, the International Atomic Energy Agency, the United Nations' nuclear watchdog, is to meet Feb. 2-3. "The US has insisted that Iran be referred to the UN Security Council for possible sanctions while Iran's weapon of last resort is [possible curtailment of] its 2.4 million b/d of crude oil output if the UN were to impose sanctions, which both China and Russia still oppose," said Morris.
Industry sources said OPEC production was unchanged at 29.6 million b/d in January compared with revised figures for December. Royal Dutch Shell PLC earlier this month shut in production of 221,000 b/d of crude because of attacks by militants on its facilities in Nigeria (OGJ Online, Jan. 25, 2006). Saudi Arabia made up some of that loss, sources said. Meanwhile, there were reports that four workers kidnapped by militants from Shell facilities in Nigeria may be freed soon.
Energy prices
The March contract for benchmark US light, sweet crudes climbed by $1.50 to $67.76/bbl Jan. 27 on the New York Mercantile Exchange. The April contract increased by $1.53 to $68.52/bbl. On the US spot market, West Texas Intermediate at Cushing, Okla., was up by $1.53 to $67.77/bbl. However, if oil prices fall 10-20% from current levels over the coming months, "there is a strong possibility that energy stocks get pulled down with oil," warned Raymond James analysts.
Gasoline for February delivery escalated by 5.21¢ to $1.74/gal on NYMEX. Heating oil for the same month increased by 2.89¢ to $1.81/gal. The February contract for natural gas gained 17.1¢ to $8.40/MMbtu. "Falling oil prices could put further pressure on gas prices that are already depressed due to unfavorable weather," said Raymond James.
In London, the March contract for North Sea Brent crude increased by $1.32 to $66.24/bbl on the International Petroleum Exchange. The February gas oil contract gained $4.75 to $554.50/tonne.
The average price for OPEC's basket of 11 benchmark crudes increased by 92¢ to $60.22/bbl on Jan. 27. So far this year, OPEC's basket price has averaged $57.80/bbl, up from an average $50.64/bbl for all of 2005.
Contact Sam Fletcher at samf@ogjonline.com.
Car firms 'blocking green fuel'
Car makers are not doing enough to develop green alternatives to petrol, an influential government adviser says.
Japanese companies had a better record than European or American ones, Professor Stephen Blythe said.
But the industry had still not grasped the urgency of the problem - despite promoting its green credentials.
A car industry spokesman said the government could do a lot more to encourage the development of alternative fuels such as hydrogen.
"It is not just a question of manufacturers developing the technology. All of the parties involved in future fuel technology must play their part," said Nigel Wannacott, of the Society of Motor Manufacturers and Traders.
Bio-fuel
Mr Wannacott said Japanese manufacturers had led the way on hybrid electric and petrol cars but all major manufacturers were developing hydrogen and bio-fuel engines.
He urged the government to provide incentives and build infrastructure to encourage the take-up of hydrogen, which he said was about 15 to 20 years away.
I can never see a time when our love affair with the car wanes
Nigel Wannacott, society of motor manufacturers and traders
Analysis: Transport in 2055
But Professor Blythe, who is one of the key contributors to the government future transport strategy, claimed it was the manufacturers who were dragging their feet.
"We have had a lot of meetings with car companies, who promote their green credentials - but they say we are not going to do much for the next 20 to 30 years because our customers don't want to pay more.
"Japanese car manufacturers seem to be much more progressive than some of the European or American ones," he said.
Perpetual motion
He was speaking at the launch of a report on the long-term shape of UK transport policy.
The report includes four alternative scenarios of what life might be like in 50 years time to help industry and government plan future transport infrastructure.
The scenarios are:
Perpetual motion - Demand for travel remains strong thanks to continued globalisation and growth. Cars have got faster but more green, air travel still popular but expensive.
Urban colonies - Environment top priority for government. Car use expensive and restricted. Public transport widely used but rural areas lose out.
Tribal trading - Energy crisis has caused mass unemployment. Long distance travel a luxury few can afford. World has shrunk to local communities for most people.
Good intentions - Tough government measures restrict carbon emissions. Traffic volumes have fallen but the market has failed to provide new energy sources.
Asked which of the scenarios would appeal to car manufacturers, Professor Blythe said: "I suspect they would not favour any of them."
Road pricing
He said the way people used their cars would have to change over time to make it a more "efficient" form of transport.
Road pricing schemes, electronic networks to help people plan journeys better or even replacing private car ownership with public cars-on-demand schemes could all play a part, he added.
Mr Wannacott said the car industry backed "smarter use of cars and commercial vehicles", which would free roads from congestion.
But he added: "I can never see a time when our love affair with the car wanes.
"There will always be an element of glamour: you are safe, you are free to go where you choose, you are not restricted to doing things the way somebody else wants you to do them. It is about personal freedom."
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LINKS TO MORE UK POLITICS S
Car makers are not doing enough to develop green alternatives to petrol, an influential government adviser says.
Japanese companies had a better record than European or American ones, Professor Stephen Blythe said.
But the industry had still not grasped the urgency of the problem - despite promoting its green credentials.
A car industry spokesman said the government could do a lot more to encourage the development of alternative fuels such as hydrogen.
"It is not just a question of manufacturers developing the technology. All of the parties involved in future fuel technology must play their part," said Nigel Wannacott, of the Society of Motor Manufacturers and Traders.
Bio-fuel
Mr Wannacott said Japanese manufacturers had led the way on hybrid electric and petrol cars but all major manufacturers were developing hydrogen and bio-fuel engines.
He urged the government to provide incentives and build infrastructure to encourage the take-up of hydrogen, which he said was about 15 to 20 years away.
I can never see a time when our love affair with the car wanes
Nigel Wannacott, society of motor manufacturers and traders
Analysis: Transport in 2055
But Professor Blythe, who is one of the key contributors to the government future transport strategy, claimed it was the manufacturers who were dragging their feet.
"We have had a lot of meetings with car companies, who promote their green credentials - but they say we are not going to do much for the next 20 to 30 years because our customers don't want to pay more.
"Japanese car manufacturers seem to be much more progressive than some of the European or American ones," he said.
Perpetual motion
He was speaking at the launch of a report on the long-term shape of UK transport policy.
The report includes four alternative scenarios of what life might be like in 50 years time to help industry and government plan future transport infrastructure.
The scenarios are:
Perpetual motion - Demand for travel remains strong thanks to continued globalisation and growth. Cars have got faster but more green, air travel still popular but expensive.
Urban colonies - Environment top priority for government. Car use expensive and restricted. Public transport widely used but rural areas lose out.
Tribal trading - Energy crisis has caused mass unemployment. Long distance travel a luxury few can afford. World has shrunk to local communities for most people.
Good intentions - Tough government measures restrict carbon emissions. Traffic volumes have fallen but the market has failed to provide new energy sources.
Asked which of the scenarios would appeal to car manufacturers, Professor Blythe said: "I suspect they would not favour any of them."
Road pricing
He said the way people used their cars would have to change over time to make it a more "efficient" form of transport.
Road pricing schemes, electronic networks to help people plan journeys better or even replacing private car ownership with public cars-on-demand schemes could all play a part, he added.
Mr Wannacott said the car industry backed "smarter use of cars and commercial vehicles", which would free roads from congestion.
But he added: "I can never see a time when our love affair with the car wanes.
"There will always be an element of glamour: you are safe, you are free to go where you choose, you are not restricted to doing things the way somebody else wants you to do them. It is about personal freedom."
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Work begins on bio power station
Work has started on a £90m biomass power station, hailed as the largest project of its kind in the UK.
A ground breaking ceremony marked the beginning of the E.ON UK project at Steven's Croft near Lockerbie.
The green scheme - which converts waste timber products into energy - should supply enough power to meet the needs of around 70,000 homes.
The firm predicts the project will create 40 direct jobs and 300 indirect posts in forestry and farming.
The Big Lottery Fund is providing £18m from its Bio-Energy Capital Grants Scheme for the E.ON UK project.
The company said 220,000 tonnes of fuel would be required each year and this would be sourced from the local environment.
Scotland has an abundant resource to lead the way in biomass development in the UK, providing and sustaining jobs and meeting local energy needs
Nicol Stephen
Deputy First Minister
About 40 jobs would be created at the Lockerbie site with a further 300 in forestry and farming.
Deputy First Minister Nicol Stephen welcomed the start of construction work.
He said: "This is excellent news for both Lockerbie and Scotland.
"Scotland has an abundant resource to lead the way in biomass development in the UK, providing and sustaining jobs and meeting local energy needs.
"Developments like this demonstrate extremely clearly that, by seizing these tremendous opportunities, we can help make Scotland a powerhouse of renewable energy."
'Added bonus'
The plant was also backed by Friends of the Earth Scotland's Head of Research, Stuart Hay.
He said: "In the future using biomass to generate electricity and heat is going to play an ever increasing part in helping to reduce climate pollution.
"Plants such as this will also lead to new jobs in remoter parts of the country.
"The fact that this facility will be using forestry residues that would otherwise have gone to waste is an added bonus."
Work has started on a £90m biomass power station, hailed as the largest project of its kind in the UK.
A ground breaking ceremony marked the beginning of the E.ON UK project at Steven's Croft near Lockerbie.
The green scheme - which converts waste timber products into energy - should supply enough power to meet the needs of around 70,000 homes.
The firm predicts the project will create 40 direct jobs and 300 indirect posts in forestry and farming.
The Big Lottery Fund is providing £18m from its Bio-Energy Capital Grants Scheme for the E.ON UK project.
The company said 220,000 tonnes of fuel would be required each year and this would be sourced from the local environment.
Scotland has an abundant resource to lead the way in biomass development in the UK, providing and sustaining jobs and meeting local energy needs
Nicol Stephen
Deputy First Minister
About 40 jobs would be created at the Lockerbie site with a further 300 in forestry and farming.
Deputy First Minister Nicol Stephen welcomed the start of construction work.
He said: "This is excellent news for both Lockerbie and Scotland.
"Scotland has an abundant resource to lead the way in biomass development in the UK, providing and sustaining jobs and meeting local energy needs.
"Developments like this demonstrate extremely clearly that, by seizing these tremendous opportunities, we can help make Scotland a powerhouse of renewable energy."
'Added bonus'
The plant was also backed by Friends of the Earth Scotland's Head of Research, Stuart Hay.
He said: "In the future using biomass to generate electricity and heat is going to play an ever increasing part in helping to reduce climate pollution.
"Plants such as this will also lead to new jobs in remoter parts of the country.
"The fact that this facility will be using forestry residues that would otherwise have gone to waste is an added bonus."
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