Monday, June 16, 2014
ISIS MAY/MAY NOT have control of vital power station that feeds Baghdad. Does control Baiji refinery that supplies Baghdad with transportation fuels ... OH governor signed law to freeze state's RPS for 2.5 yrs. 1st in US to rollback clean power mandate. Silver lining: requires utilities to bolster energy efficiency to reduce customer's power use 22% ... China spies probing US utilities for cyberwar advantages ... "Solar Freakin Roadways" crowd funding project raised $2M so far for tech that will never be used as extensively or as inexpensively as current solar PV ... World oil demand est. 92Mb/d this year, up from 90 last year: IEA ... Japan killed 30 whales in 1st hunt since ICJ ruling ... 25% reduction in US coal use '05-'12. Production costs steadily rising. Top 3 US coal comps in red. Peabody $.5B loss '13. Arch Coal $.64B. Alpha Natural Resources over $1B. Stock prices have near vanished. US coal production lowest in 20 yrs, under 1B tons '13. WY surface mine comps slashing capital expenditure. Powder River region operating margins just $.28/ton. 1 comp to reduce production over 25% in '15 (3rd most productive mine in US). Huge chunk of what had been called coal reserves are economically unattractive "resources" unlikely to be extracted. US' most productive mine likely to start playing out by '20 ... USDA $14.5M for 2 programs to promote bioenergy ... Cal issued new fracking rules, including disclosure on quakes ... UK's largest insurance comps last year pledged to invest $42B in infra (incl. wind farms, grid). Other insurers plan to increase bets on infra debt.
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