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Friday Green Numbers round-up for Feb 25th 2011

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Green Numbers

And here is a round-up of this week’s Green numbers…

  1. After 50 Years, Nuclear Power is Still Not Viable without Subsidies, New Report Finds

    Since its inception more than 50 years ago, the U.S. nuclear power industry has been propped up by a generous array of government subsidies that have supported its development and operations. Despite that support, the industry is still not economically viable, according to a report released today by the Union of Concerned Scientists (UCS). The report, ?Nuclear Power: Still Not Viable Without Subsidies,? found that more than 30 subsidies have supported every stage of the nuclear fuel cycle, from uranium mining to long-term waste storage. Added together, these subsidies often have exceeded the average market price of the power produced.

    ?Despite the fact that the nuclear power industry has benefited from decades of government support, the technology is still uneconomic, so the industry is demanding a lot more from taxpayers to build new reactors,? said Ellen Vancko, manager of UCS?s Nuclear Energy and Climate Change Project. ?The cost of this technology continues to …

  2. UN reveals $1.3trn green strategy

    A new sustainable strategy by the United Nations proposes to invest 2pc of wealth generated by the global economy, or some $1.3trn annually, in 10 key sectors.

    The new United Nations Environment Programme (UNEP) report that was released yesterday, when more than 100 environment ministers met in Nairobi, underlines a sustainable public policy and investment path that will not only launch the transition towards a low-carbon, resource-efficient green economy, but will also …

  3. Wind generation is not increasing wholesale electricity prices in Ireland

    The growing levels of wind generation on the Irish electricity network is not increasing wholesale electricity prices, a new study published by EirGrid and the Sustainable Energy Authority of Ireland (SEAI) suggests.

    The report by grid operator EirGrid and the SEAI, employs detailed modelling tools to examine the wholesale prices in the Irish electricity system in 2011, which has a total annual value of an estimated ?2bn.

    The analysis revealed that wind generation lowers wholesale prices by …

  4. 7 Fear Factors That Move Solar Stocks

    Solar companies have seen their stocks head up over the past two months as they?ve been reporting killer sales and profits for 2010 and remain bullish about 2011. Shares of key players, such as SunPower, Suntech Power, First Solar and Trina Solar, all have seen their shares rise about 30 percent or more since the beginning of the year.

    But no stocks can keep climbing forever, and news events that …

  5. OnChip Power, aiming a shrink ray at bulky transformer ‘bricks,’ raises $1.8 million from Venrock

    I am fairly sure that if you manage to raise $1.8 million for your start-up while enrolled in a business school course called “Entrepreneurial Finance,” you are almost guaranteed an A.
    Last week, MIT Sloan student and OnChip Power CEO Vanessa Green was signing the papers on her company’s first round of funding: $1.8 million from Venrock and Arunas Chesonis, chairman of PAETEC Holding and an MIT alumnus.

    OnChip is commercializing new power electronics technology developed at …

  6. Transphorm Unveils Efficient Power Module, $38M From Kleiner, Google Ventures

    Here comes the biggest cleantech startup launch since Bloom Energy: Acompany called Transphorm has emerged from stealth on Wednesday afternoon at Google Venture?s headquarters, touting an energy-efficient power conversion module for power-hungry devices from servers to electric car batteries to solar panels, and an enviable $38 million in venture capital from Kleiner Perkins, Google Ventures, Foundation Capital, and Lux Capital.

    Founded in 2007, Transphorm is looking to make power conversion more energy-efficient and reduce the …

  7. Harvard Study Reveals Coal Energy To Be One of the Most Expensive Forms of Power

    Advocates of coal power argue that it is among the cheapest sources of energy in the United States and allows for lower-cost power. But a new Harvard study found that whatever money is saved in operation costs is completely negated by the cost coal plants inadvertently pass on to the American public: $345 billion.

    These hidden expenses are not borne by miners or utilities, but come from the detrimental side affects of coal burning, like health problems in mining communities and pollution around coal plants. The study is the first to look at the entire cost of coal, from extraction to combustion …

  8. Oil surges nears $120 a barrel on Libya and Middle East fears

    Oil prices soared to almost $120 a barrel on Thursday amid fears that the unrest in Libya and Bahrain could spread to other oil-rich countries in the Middle East, including Saudi Arabia.

    Brent crude leapt $8.54 to $119.79 a barrel, the highest price since August 2008, and later traded at $113.93 a barrel. It closed at…

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Photo credit Tom Raftery

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Friday Green Numbers round-up for Feb 11th 2011

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Green Numbers

And here is a round-up of this week’s Green numbers…

  1. Vice President Biden Announces Six Year Plan to Build National High-Speed Rail Network

    Vice President Joe Biden today announced a comprehensive plan that will help the nation reach President Obama?s goal of giving 80 percent of Americans access to high-speed rail within 25 years, as outlined in his State of the Union address. The proposal will place high-speed rail on equal footing with other surface transportation programs and revitalize America?s domestic rail manufacturing industry by dedicating $53 billion over six years to continue construction of a national high-speed and intercity passenger rail network.

    As a part of President Obama?s commitment to winning the future by rebuilding America?s roadways, railways and runways, the plan will lay a new foundation for the nation?s

  2. Energy and Carbon Software Market Poised for 300% Growth; Sector Leaders Named

    The market for enterprise energy and carbon accounting (EECA) software grew 400 percent during 2010 and is forecast to grow another 300 percent this year, according to research by efficiency system provider Groom Energy Solutions.

    The research found that more than 200 large corporations ? including Arch Coal, Bayer, RJ Reynolds, Safeway and Wyndham Hotels ? bought EECA software in 2010.

    The report names ten companies as EECA leaders for 2011. They are

  3. US diplomat convinced by Saudi expert that reserves of world’s biggest oil exporter have been overstated by nearly 40%

    The US fears that Saudi Arabia, the world’s largest crude oil exporter, may not have enough reserves to prevent oil prices escalating, confidential cables from its embassy in Riyadh show.

    The cables, released by WikiLeaks, urge Washington to take seriously a warning from a senior Saudi government oil executive that the kingdom’s crude oil reserves may have been overstated by as much as 300bn barrels ? nearly 40%.

    The revelation comes as the oil price has soared in recent weeks to more than $100 a barrel on global demand and

  4. Bridgelux Raises $20M For LEDs

    LED chip and array maker Bridgelux raised close to $50 million just a year ago, but is raising even more money, according to a filing. The nine-year-old venture-backed startup which is looking to do for lighting what Silicon Valley has done for communications and entertainment ? make it digital ? has raised $20.74 million of a planned $21 million round.

    The company opened a factory in California and was making an effort to scale up its production last year, so

  5. British windfarms blow Vestas towards 25% profit rise

    Strong demand from British windfarms helped the world’s biggest turbine manufacturer, Vestas, raise profits by 25% over the past year and have boosted future prospects.

    UK equipment deliveries totalled 530MW ? a leap from 120MW over the previous year ? helped in particular by shipments for the 300MW Thanet windfarm, which is currently the largest offshore windfarm ever built.

    Shares in Vestas soared 5% as the Danish-based group reported

  6. Vodafone [Ireland] embarks on green drive to cut paper bills by 70%

    Ireland?s largest mobile operator Vodafone has asked customers to opt to switch to paperless billing as part of its drive to cut down on paper by 70%. The move, it says, will be equal to saving 5,000 trees and 500 tonnes of CO2.

    The company today launched its paperless billing campaign ?Goodbye Paper Bills, Hello Trees? and calls on Vodafone customers to make the switch to paperless billing.

  7. EMC? Cork plant cuts energy use by 20% after ?radical? retrofit

    EMC?, which employs 1,650 people at its Ovens site, undertook a full retrofit project to implement energy saving technologies at the information technology and data centre site, using free cooling technology systems.

    The ?2.5 million project, which was designed and managed by consulting engineering company Arup, will achieve annual electricity savings of 13 million kilowatt hours and an annual carbon emission reduction of 7,000 tonnes.

  8. Hopes of 30% cut in greenhouse emissions dashed

    The UK government’s plan to push Europe to deeper cuts on greenhouse gas emissions has been dashed by the EU’s energy chief.

    G?nther Oettinger, the EU’s energy commissioner, dealt a heavy blow to the hopes of several member states that have been pressing for a target of slashing emissions by 30% by 2020, against the current 20%.

    He said the tougher target would force industries to ….

  9. China bids to ease drought with $1bn emergency water aid

    China has announced a billion dollars in emergency water aid to ease its most severe drought in 60 years, as the United Nations warned of a threat to the harvest of the world’s biggest wheat producer.

    Beijing has also promised to use its grain reserves to reduce the pressure on global food prices, which have surged in the past year to record highs due to the floods in Australia and a protracted dry spell in Russia.

    The desperate measures were evident at

  10. Obama Admin: 1M Electric Vehicles by 2015 Still On Course

    President Obama?s plan to put 1 million electric vehicles on the road by 2015 was reaffirmed on Tuesday.

    A new report issued by the Department of Energy outlines a strategy for achieving that goal, which Obama announced in his State of the Union address last month. David Sandalow, the Energy Department?s Assistant Secretary for Policy and International Affairs, said the goal can be reached if the proper steps are taken.

    ?To succeed in meeting the President?s goal, we?ll need …

  11. Ocean energy could create 70,000 jobs [in Ireland] ? Bord G?is

    Bord G?is have claimed that the ocean energy industry could create up to 70,000 jobs and be worth ?120bn to the Irish economy.

    In a speech to the Ocean Energy Industry Forum 2011 today, Bord G?is CEO John Mullins outlined his concern that ?not enough investment and planning is being put into developing Ireland?s ocean energy resources,? however.

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Friday Green Numbers round-up 06/18/2010

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Green numbers

Photo credit Unhindered by Talent

And here is this week’s Green numbers:

Posted from Diigo. The rest of my favorite links are here.

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Friday’s Green Numbers round-up 01/15/2010

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Green Numbers

Photo credit arekiiu

Here is today’s Friday Green numbers round-up:

Posted from Diigo. The rest of my favorite links are here.

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Another oil shock in 2010?

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Brent crude oil price
Brent Crude price Aug 08 – Jan 09

Chart generated by thisismoney.co.uk

Posts on The Oil Drum and iStockAnalyst in the last couple of days point out something interesting.

From The Oil Drum’s post:

Nobuo Tanaka, the head of the International Energy Agency (IEA) said today…

Oil at near $40 a barrel has slowed investment in oil projects, he told Reuters, raising the possibility of a supply shortfall once demand resumes.

“The current price level has a negative impact on investment in new oilfields,” Tanaka said on the sidelines of the World Economic Forum in Davos.

“We are concerned about slowdown, slippage, cancellation of projects. When demand comes back, we may have a supply crunch,” He added.

And from a post on iStockAnalyst a few days earlier:

A massive slump in oil exploration spending pummeled Schlumberger Ltd. (SLB), the world’s largest oilfield services corporation, as profit fell 17% in the fourth quarter. But the company said curtailed spending could be setting the stage for a rebound in oil and gas prices as supplies dwindle.

Schlumberger is pulling back as a collapse in petroleum prices led to a sharp drop in exploration spending by its customers.

So the current low oil prices mean oil exploration and investment in new oilfields is being cut back. Because of the inelasticity of the demand and supply curves for oil, this means when the world economy (and demand for energy) starts to ramp up again we are in for another price shock, like the one we saw in 2008.

With the next shock though we will have depleted that much more of the world’s finite supply, and the lack of investment in exploration means that the next oil shock will require an even bigger global recession for the price to fall back down once more. How likely is that?

With respect to time frames, this recession has at least another year to run, I suspect, before demand starts back up again. So another oil shock in 2010?

Perfect! Just in time for the launch of many of the new battery electric, and plug-in hybrids by the mainstream motor manufacturers!

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Peak oil is here – now what are you going to do about it?

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Congressman Roscoe Bartlett [R] in the video above addresses the US congress on the liklihood that we have hit peak oil.

Congressman Bartlett has been banging this drum since 2005 but he received an unlikely ally in the International Energy Agency yesterday! The IEA is not known for being alarmist and is typically extremely conservative in these matters however yesterday’s Medium-Term Oil Market Report from the IEA contained some interesting nuggets which suggest that they are coming around to the “Peak Oil is here now”, way of thinking.

Nobuo Tanaka, Executive Director of the International Energy Agency speaking at a press conference at the World Petroleum Congress, emphasized that market fundamentals were the main underlying factor behind high oil prices. “OPEC production is at record highs and non-OPEC producers are working at full throttle, but stocks show no unusual build. These factors demonstrate that it is mainly fundamentals pushing up the price,” he added.

In other words, no build up of stocks means it is a simple case of supply and demand, not speculators, which is causing the current price increase.

This is not good news.

The report goes on:

Over 3.5 mb/d of new production will be needed each year just to hold global production steady. “Our findings highlight again the need for sustained, and indeed, increased investment both upstream and downstream — to assure that the market is adequately supplied,” stated Mr. Tanaka.

But figures for new production have been falling year-on-year, never mind increasing 3.5mb/d.

Ok, so if we say peak oil has arrived and we are never again going to see a barrel of oil go below $120 per barrel (in fact it will trend ever upwards over time), just what are you going to do now that you have that information?

Will you start an efficiency drive in your company? Remember your financial accounting – saved overhead goes straight to the bottom line!

Will you buy a hybrid car? Will you install solar/wind generation capacity at your place of work/home? Will you go vegetarian?

We are headed into challenging times but for people and companies who make the right choices, there is, as ever, money to be made!

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Bring On The Renewables Bubble

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Power Lines
Photo Credit chefranden

I was talking to Tom last night, and it struck me that a bubble won’t be all bad. There are a couple of reasons why. First off, unlike the last time a green bubble popped when oil prices collapsed in the 1980s, this time around we have China and India to sustain demand, and oil prices.

So why would a bubble be good? For one, we need the inward investment to create an infrastructure capable of serious lobbying, to be able to create favourable Green Tape (the rules, regulations and tax regimes surrounding renewable investments). At the moment energy lobbying is clearly in the hands of the oil and gas companies. This balance needs some redress, and massive capital injections are going to help.

Finally lets not also forget that bubbles can and do change the world. The first internet “bubble” popped, but you’re not about to tell me the transformation is over, and or has even started, yet…Innovation is discontinuous, and that’s why I am not afraid of some bubble tendencies. We just need to make sure some of the gum sticks when it bursts…

 

picture courtesy of chefranden on Flickr under creative commons Attribution 2.0 license.

 

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High oil prices are a good thing!

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Houston Smartypants Car
Creative Commons License photo credit: Lori Greig

I wrote a post a couple of weeks back saying that the sooner oil reaches $200 per barrel, the better. Unsurprisingly, it generated a bit of comment!

So I was mighty chuffed to read Thomas Friedman’s superb Op-Ed in the New York Times yesterday where he made a very similar argument.

Thomas said:

there is no short-term fix for gasoline prices. Prices are what they are as a result of rising global oil demand from India, China and a rapidly growing Middle East on top of our own increasing consumption, a shortage of “sweet” crude that is used for the diesel fuel that Europe is highly dependent upon and our own neglect of effective energy policy for 30 years.

Cynical ideas, like the McCain-Clinton summertime gas-tax holiday, would only make the problem worse, and reckless initiatives like the Chrysler-Dodge-Jeep offer to subsidize gasoline for three years for people who buy its gas guzzlers are the moral equivalent of tobacco companies offering discounted cigarettes to teenagers.

I like the discounted cigarettes to teenagers analogy but it doesn’t go far enough. You give discounted cigarettes to teenagers, you kill them. You give discounted petrol/gas and you kill the planet. In effect, with its massive subsidies for oil companies (subsidies for oil companies? who thought that was a good idea?), this is what the United States administration has been doing for decades. But we digress.

He goes on to quote the arguments of energy economist Philip Verleger Jr. who wants a “price floor” – a guaranteed minimum price below which gas will not go:

$4 a gallon for regular unleaded, which is still half the going rate in Europe today. Washington would declare that it would never let the price fall below that level. If it does, it would increase the federal gasoline tax on a monthly basis to make up the difference between the pump price and the market price.

To ease the burden on the less well-off, “anyone earning under $80,000 a year would be compensated with a reduction in the payroll taxes,” said Verleger. Or, he suggested, the government could use the gasoline tax to buy back gas guzzlers from the public and “crush them.”

But the message going forward to every car buyer and carmaker would be this: The price of gasoline is never going back down. Therefore, if you buy a big gas guzzler today, you are locking yourself into perpetually high gasoline bills. You are buying a pig that will eat you out of house and home. At the same time, if you, a manufacturer, continue building fleets of nonhybrid gas guzzlers, you are condemning yourself, your employees and shareholders to oblivion.

With the current high prices for gas/petrol in Europe and the US, the message is starting to get through. Te demand for hybrid cars is growing daily as Thomas noted when he went to buy a new one:

I was visiting my local Toyota dealer in Bethesda, Md., last week to trade in one hybrid car for another. There is now a two-month wait to buy a Prius, which gets close to 50 miles per gallon. The dealer told me I was lucky. My hybrid was going up in value every day, so I didn’t have to worry about waiting a while for my new car. But if it were not a hybrid, he said, he would deduct each day $200 from the trade-in price for every $1-a-barrel increase in the OPEC price of crude oil. When I saw the rows and rows of unsold S.U.V.’s parked in his lot, I understood why.

The absolute worst thing which could happen now would be for oil prices to drop again. Companies who had invested heavily in renewables would potentially go out of business and fuel efficiency would no longer be a primary concern for car buyers.

No, high oil prices are a good thing. Nothing will move us off the carbon economy as effectively as a strong financial incentive.