Thursday, August 21, 2014

OIL PRODUCTION TO PEAK IN MID-'15 at 4 main US tight oil basins - Permian, Bakken, Eagle Ford, Niobrara. Production then predicted to decline as fast as it rose in last 7 years ... Over $500B of investment in major oil projects at risk over next decade from high costs, low oil prices ... Dropping oil prices threatening Russia budget. (That's partly how Soviet Union was defeated - low oil prices in '80's. Wonder why oil prices have been dropping lately?) ... Buffett sold more oil comp stakes ... More leaders openly acknowledging pending Paris intl agreement next year to avert catastrophic global warming will surely fall short of what's needed ... It would take 1.5 Earths to produce ecological resources needed to sustainably support current human activity. Tuesday was "Earth Overshoot Day": Global Footprint Network ... Price of wind power in US at all-time low: DOE. $25/Mwh avg. for projects negotiating with utilities in '13 ... Report charges comps illegally using diesel fuel to frack, doctoring records. At least 351 wells by 33 comps '10-'14 ... New Mexico's oil production has near doubled in last 6 years. Soon to pass Alaska. Encana spending up to $350M drilling in Mancos Shale in N west NM. State also shares part of Permian Basin ... US sold over 400K acres in west Gulf of Mex for oil/gas development. Offerings since '12 got buyers for ~60M acres for ~$2.3B. Wednesday sale to bring in ~$110M. BP - no longer barred - won 27 of 81 tracts sold ... N Carolina lawmakers passed coal ash restrictions bill. 33 dumps in state ... Iran oil ministry backing plan for 400K el motorcycles to reduce pollution ... DOE $67M for advanced nuke power research. Includes cheaper way to extract uranium from seawater using wind power ... EDF setting up methane detection contest ... Duke Energy Florida needs to add over 2Gw power gen capacity next 4 years. (Got to hope much of it solar.) ... S Africa approved treaty with Congo for 2.5Gw 1st phase of 40Gw $100B hydropower project. 6 phases. Power to be shared among region's nations ... ABB new power cable tech can carry over 2x more power from offshore wind farms. ~2.6Gw vs. 1Gw now ... Clean power 100% of new US power gen cap added in July. 379Mw wind, 21Mw solar, 5Mw hydro ... UK supermarket to use anaerobic digester for power, using materials from all comp's groceries. Also to heat all stores in winter with heat pumps, storing waste heat from refrigeration ... Citigroup: solar to outperform fossil fuels in long term. (Um, duh?) ... Fracking in Maryland would pose risk of harmful air pollution: U of MD report. (Besides groundwater risks.) ... Libya reopened its largest oil export terminal. Plus 150Kb/d oilfield due to reopen next week. Heavy fighting still in Tripoli, Benghazi ... Egypt using sulfur-laden fuel oil at power plants has plugged burners. Over 6Gw taken offline. Now rolling blackouts ... GEVO reported 2Q14 revs up, higher losses ... New DOE program aims to cut cost of algae biofuels, byproducts by up to 50% by '19 ... Coal now meets 30% of global primary energy needs, highest level since '70. Used for 41% of world's power gen, production of 70% of world's steel ... World coal exports 1.3B tons in '13. Up to 20% lost money at $72/ton ... MIT researchers turning dead car batteries into solar panels ... FERC approved $2B 700-mile HVDC powerline project to bring OK, TX panhandle wind power to west Tennessee. Power to cost 4.3 cents/Kwh. 2-3 years to build ... Brazil comp OK'd to start ops at 29.7Mw wind farm ... Etrion (Swiss) investing $400M in Chile solar. To build 2 projects, total 100Mw, for $200M. Construction start in '15. $200M more for 70% stake in 68Mw solar project online this year ... Sunrun to buy 50-100Mw of solar panels from REC Solar next year. US residential solar up 60% in '13 to 792Mw ... Sun Edison (SUNE) getting $160M from Citigroup, Barclays to build 40 distributed gen projects in US, avg. 1.1Mw each. Tax equity finance. SUNE's solar pipeline up to 4.3Gw ... Africa to add more clean/renewable power gen cap in '14 than in last 14 years. ~1.8Gw. S Africa, Kenya, Ethiopia in lead ... Tata to supply 20Mw Acme solar project in India ... Siva Power (US) seeks $100M to build thin-film solar factory ... China Power Investment investing $163M in Gao solar plant ... Statkraft's wind losses up to NOK 70M 2Q14 ... EDP unit to sell equity in 1.1Gw of US wind farms.

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