Friday, May 16, 2014
OPEC OUTPUT unlikely to match 2H14 demand: IEA. OPEC will need to pump 30.7Mb/d 2H14 to meet world demand. ~800Kb/d more than April. Sauds pumping 9.6Mb/d, capacity 12.5M. They're satisfied with $100 oil. Brent, of course, near $110 ... Widespread use of NG in power gen will fail to significantly alter world's current global warming trajectory: study ... Asia, Africa to collaborate on climate change research ... N Carolina bill would make it a felony to disclose fracking chems. (What are they hiding? And there's no fracking I know of in NC. What the hell?) ... UK moving to cut support for large-scale solar. (O, great.) ... Small modular nuke reactor tech will be at least as expensive as large reactors. Won't fit needs of more flexible grids. Development would siphon funds from other clean energy ... Power plants account for ~40% of 2.2B tons CO2/yr released in US ... US oil production up 78Kb/d last week to 8.4Mb/d: EIA ... Libya got oil field partially opened, adding ~35Kb/d to production. 340Kb/d field expected to open soon. US Marines now based on Sicily to be able to respond quickly to protect US diplomats ... At least $1T of oil projects "won't see a return" if govts fulfill climate change pledges ... Remember something else: US shale fracking was exempted from Clean Water Act ... Clean/renewable energy sector now employs ~6.5M people worldwide ... Germany clean/ren sector supplied record 27% of total power gen 1Q14 ... GEVO $12M loss 1Q. Revs $900K. Started up some ops at MN ethanol plant ... Largest advanced biofuel plant in US (IL) using Honeywell tech. 130M gal/yr of green diesel from inedible oils, waste products. Requires no engine mods. Potential 80% GHG emissions reduction ... Tyson, SYNM losing $2M/mo on idle chicken fat biofuel plant. SYNM wants to sell its 50% stake. $150M plant. 75M gal/yr cap. Idle since late '12. Owners dispute over restart conditions. (Seems to me, for whatever reason, Tyson - Mister big bucks - wants to take down SYNM. Maybe I'm wrong.) ... OPEC questioning (rightly) sustainability of N Am (fracking) oil boom. Acknowledged, though, that non-OPEC oil production expected to increase over 4Mb/d by '18. (But then peak there.) ... Saud oil minister said they would make up for any oil shortfall that may result from conflict in Ukraine ... World uses over 30B bls/yr of oil. ... Cal Energy Commission awarded $6M for transportation, enviro research, school energy efficiency projects ... AES Indianapolis unit got state approval for 650Mw combined-cycle NG turbine power plant (~$600M), $36M to convert 2 units - 200Mw - from coal to NG. Online '16-'17 ... Clear election mandate in India for Modi's opposition party. Wants to overhaul infra, support clean/ren energy sector.
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