Researchers Create Catalyst That Cleans Dirty Water And Produces Hydrogen (30 March 2023): By Brian Westenhaus - Researchers in the Oregon State University College of Science have developed a dual-purpose catalyst that purifies herbicide-tainted water while also producing hydrogen. The project, which included researchers from the OSU College of Engineering and HP Inc. is important because water pollution is a major global challenge, and hydrogen is a clean, renewable fuel. Findings of the study, which explored photoactive catalysts have been published in the journal ACS Catalysis. OSU’s Kyriakos Stylianou said, “We can combine oxidation and reduction into a single process to achieve an efficient photocatalytic system. Oxidation happens via a photodegradation reaction, and reduction through a hydrogen evolution reaction.” ... (Source: Oil Price)
Warning: A Fed Pivot Is Not As Bullish As You Think (29 March 2023): By ZeroHedge - The second largest U.S. bank failure and the deeply discounted emergency sale of Credit Suisse have investors betting the Federal Reserve will pivot. An old saying cautions one to be careful of what one wishes for. Stock investors wishing for the Federal Reserve to pivot may want to rethink their logic and review the charts. The second largest U.S. bank failure and the deeply discounted emergency sale of Credit Suisse have investors betting the Federal Reserve will pivot. They don’t seem to care that inflation is running hot and sticky, and the Fed remains determined to keep rates “higher for longer” despite the evolving crisis. Since 1970, there have been nine instances in which the Fed significantly cut the Fed Funds rate. The average maximum drawdown from the start of each rate reduction period to the market trough was 27.25%. ... (Source: Oil Price)
IRENA: $5 Trillion Per Year Needed To Meet Climate Goals (28 March 2023): By Michael Kern - A new report from the International Renewable Energy Agency (IRENA) has found that we need to increase our annual investments in renewable energy by four times to meet climate goals. According to IRENA, global investments in renewable energy technologies must exceed $5 trillion annually to align with the Paris climate accord's commitment to limiting temperature increases to 1.5 degrees Celsius above pre-industrial levels. Last year, investments in renewable energy reached a record of $1.3 trillion, but that is insufficient for tackling climate change. IRENA highlighted that a total of $35 trillion is required for transition technology by 2030, which includes improving efficiency, electrification, grid expansion, and flexibility. ... (Source: Oil Price)
$14 Billion In Oil And Gas Deal Signed This Week, And It’s Only Monday (27 March 2023): By Charles Kennedy - As oil sector deal-making starts to show signs of recovery, Brookfield Renewable Partners will acquire Australia’s Origin Energy utility for over $10 billion, while the Permian basin has scored another victory with a $1.45-billion asset sale. On Monday, a consortium led by Brookfield said it had agreed to acquire Origin (OTCPK:OGFGF) in a $12.4-billion deal, including debt. The deal will render Origin Australia’s biggest energy retailer and integrated power provider. Separately, one of the consortium partners, MidOcean Energy, will own Origin’s gas segment, which includes upstream interests and a hefty stake in Australia Pacific LNG. Origin is eyeing a minimum of $20 billion in new investment over the next ten years for the construction of up to 14 GW of renewable power generation and storage facilities in Australia. Also on Monday, in the Permian basin, Energy Transfer Lp (NYSE:ET) said it would acquire Lotus Midstream pipeline operator in a $1.45-billion deal. Energy Transfer will pay $900 million in cash and remainder in shares. ... (Source: Oil Price)
Ammonia Security Risks Could Harm Energy Transition Plans (25 March 2023): By Cyril Widdershoven - With the recent publication of the IPCC report warning of the devastating effects of global warming and the need for action, the push for energy transition away from hydrocarbons faces new challenges. While green hydrogen and green ammonia are being touted as viable substitutes for hydrocarbons in a low-carbon or Net-Zero future, security risks associated with their transportation and storage are being increasingly acknowledged. This poses a potential threat to Europe's green energy strategies, as NGOs and citizens may oppose these plans due to the higher risks involved. A report by Berenschot, Arcadis, and TNO suggests that more needs to be done to set up the right policy, law, and regulations to mitigate these risks. The report also indicates that the maritime transport of green ammonia is more cost-effective, leading to an influx of this product in European ports, particularly the Port of Rotterdam. However, this also means that the overall transport volumes of ammonia will be exponentially higher, increasing the risks of a potential disaster involving ammonia. ... (Source: Oil Price)
The Case Against Massive Investments In Natural Gas (23 March 2023): By Felicity Bradstock - Despite the fact it’s a fossil fuel, natural gas is still getting a lot of attention, with companies and governments continuing to fund new large-scale gas operations as the world begins its transition to green. Several factors have helped create the hype around natural gas. Firstly, several governments and regional bodies, such as the EU, have included natural gas in their green energy taxonomies as a sustainable source of energy that is expected to support the transition away from dirtier fossil fuels. Second, the demand for oil and gas remains high, and as gas is viewed as the cleaner option, energy firms anticipate many more decades of gas use ahead of them. And thirdly, the Russian invasion of Ukraine and subsequent sanctions on Russian energy have made many state powers feel the need for greater domestic or allied gas production to avoid gas scarcity and boost energy security. ... (Source: Oil Price)
How The Building Sector Became A Model For Green Growth (21 March 2023): By Haley Zaremba - Buildings are a major source of energy use in the United States. Constructing new buildings, and then heating, cooling, and otherwise powering them once they're in use accounts for a hefty chunk of overall electricity consumption. This means that the energy efficiency of the building sector has enormous implications for the country’s ecological footprint and ultimate ability to meet its climate goals. To put this in perspective: from 2005 to 2022, the U.S. added a whopping. 62.5 billion square feet to its building stock — this could be approximately equated to adding six cities the size of Boston each and every year. But over the past two decades, the U.S. building sector has made incredible advances in reducing the amount of energy used to build new structures, and therefore in reducing overall greenhouse gas emissions. ... (Source: Oil Price)
Air Pollution Is An $8 Trillion Problem (20 March 2023): By ZeroHedge - Air pollution is the greatest environmental health hazard to humankind, leading to over six million deaths a year and an economic cost that equates to over $8 trillion dollars. That’s according to the World Air Quality Report 2022 released Tuesday by Swiss air quality technology company IQAir. Statista's Anna Fleck reports that the analysis found that out of a surveyed 131 countries, regions and territories, only 13 met World Health Organization air guidelines of annual PM2.5 concentrations at or below 5 μg/m3 in 2022, many of which were in Oceania. The following chart shows how greatly air quality varies globally, with cities such as Pakistan’s Lahore (97.4 μg of PM2.5 particles per m3) and India’s Delhi (92.6) both exceeded WHO guidelines more than 10 times. At the other end of the spectrum lie cities such as Reykjavik in Iceland (3.3) and Tallinn in Estonia (4.8) which are among the few that meet guidelines. ... (Source: Oil Price)
The Middle East Is Looking To Dominate The Green Hydrogen Market (16 March 2023): By Felicity Bradstock - While many countries across the Middle East are continuing to pursue oil and gas agendas, responding to the strong global demand for fossil fuels, several countries across the region are also investing heavily in renewable alternatives. For many countries, such as Saudi Arabia and the UAE, oil and gas continue to provide the revenues to support a strong economy and contribute to their national funds to ensure their wealth for the future. However, leaders across the region are aware that oil and gas will not be the main economic drivers forever, and many are now attempting to diversify their economies and expand their non-oil sectors. With extensive experience in energy, the Middle East is seen as the perfect location to develop green energy operations, from green hydrogen to wind and solar power, ensuring the future of the region’s energy security as well as its position on the energy stage of the future. ... (Source: Oil Price)
Unlocking A New Low-Cost Biofuel (15 March 2023): By Brian Westenhaus - Michigan State University researchers have solved a puzzle that could help switchgrass realize its full potential as a low-cost, sustainable biofuel crop and divert some of our dependence on fossil fuels. The new knowledge has been published in the journal Frontiers in Plant Science. Among switchgrass’s attractive features are that it’s perennial, low maintenance and native to many states in the eastern U.S., including Michigan. But it also has a peculiar behavior working against it that has stymied researchers – at least until now. Berkley Walker’s team in MSU’s Department of Plant Biology has revealed why switchgrass stops performing photosynthesis in the middle of the summer – its growing season – limiting how much biofuel it yields. Walker, an assistant professor in the College of Natural Science also works in the MSU-Department of Energy Plant Research Laboratory. ... (Source: Oil Price)
SVB Fallout Spreads Through Energy Markets (14 March 2023): By Michael Kern - The 50-day implied volatility rate of oil jumped some 16% amidst the ongoing chaos surrounding the collapse of SVB and Signature Bank, the most since the beginning of the Russia-Ukraine war. With U.S. headline CPI coming in at 6% in February, the balancing act of the Federal Reserve might render the oil markets more volatile again as higher inflation for longer undermines demand growth but also cuts into supply prospects. In just one day of trading on April 13, the open interest held in ICE Brent contracts decreased by almost 35,000 lots (equivalent to 35 million barrels) whilst the response in WTI NYMEX was much more subdued. As both WTI and Brent shed almost $5 per barrel week-on-week, it is the Middle Eastern benchmark Dubai that has come out of the chaos relatively unscathed, being already on par with Brent and showing the resilience of Asian markets. ... (Source: Oil Price)
Oil Falls Again As Traders Remain Concerned About U.S. Banks (13 March 2023): By Charles Kennedy - Oil markets continued to be disrupted by the failure of Silicon Valley Bank and Signature Bank over the weekend, with oil prices losing nearly 3% just shy of the closing bell on Monday. On Monday at 3:36 p.m. EST, Brent crude was trading down 2.96% at $80.33, for a loss of $2.45 on the day. WTI was trading down 2.99% at $74.39, for a loss of $2.29 on the day. SVB, the go-to lender for tech startups backed by venture capitalists, failed dramatically on Friday, with shares plunging 60% before the SEC halted trading. Investors were spooked last Wednesday, when the bank announced a massive capital raise to stabilize its balance sheet. Investor fears led to a panic and a run on the bank. ... (Source: Oil Price)
The World Desperately Needs More Oil And Gas Investment (11 March 2023): By Felicity Bradstock - Despite high oil prices sending energy company profits soaring over the last year, little of those profits have been reinvested in the oil and gas business. As oil and gas companies acknowledge the inevitability of an energy transition in the future, many are pumping funds into their clean energy business and returning money to shareholders. However, energy experts are concerned that underinvestment in oil and gas could threaten the world’s energy security at a time when the demand for fossil fuels is high and climbing. The CEO of Saudi Arabia’s oil giant Saudi Aramco, Amin Nasser, told media sources this month that “A persistent underinvestment in oil upstream and even downstream is still there. The latest report from the IEA talks about a demand of 101.7 million barrels — going from 100 million barrels in 2022 to almost 2 million barrels more with China opening up and the aviation industry,” which has not yet returned to pre-Covid levels. ... (Source: Oil Price)
Venture Capital Is Obsessed With Climate Tech (9 March 2023): By Felicity Bradstock - Investments in climate tech have risen significantly in recent years, as governments put increasing pressure on companies to decarbonise, introduce favourable climate policies, and push a rapid transition to green. This has provided opportunities for start-ups and long-established tech companies worldwide to innovate and develop new products that will support an accelerated green transition. Just a decade ago, climate tech was largely unheard of, with little funding coming from the world’s biggest companies. But skip forward 10 years, after multiple COP climate summits, and climate tech is where every company wants to invest their money. Approximately 35,000 climate tech companies were established between 2010 and 2022, bringing the total to 44,595. Investment in 2022 was estimated at around $73.86 billion, and climate tech can expect another record year in 2023. The industry is led by the U.S., followed by the U.K., but start-ups offering innovative climate technologies are emerging around the globe. ... (Source: Oil Price)
The Impressive Impact Of Clean Energy Projects On Global Emissions In 2022 (8 March 2023): By Felicity Bradstock - According to a recent International Energy Agency (IEA) report, carbon emissions in 2022 rose by less than was feared, largely thanks to a multitude of new green energy projects worldwide. Carbon dioxide emissions worldwide increased by under 1 percent in 2022, or 321 million tonnes, lower than initially anticipated, according to the IEA. This was supported by the growth in solar and wind power, EVs, and heat pumps, as well as greater efforts at increased energy efficiency. Despite a rise in coal and oil use, in response to the global energy crisis, these efforts meant emissions did not rise substantially, particularly compared to the 6 percent increase seen in 2021. Despite the improvement last year, the world’s emissions are still rising in an unsustainable way, threatening the net-zero by 2050 scenario of many countries. Carbon emissions still totaled over 36.8 billion tonnes in 2022. However, the acceleration of renewable energy projects and the rollout of related technologies could support a rapid decrease in CO2 emissions. ... (Source: Oil Price)
Offshore Oil And Gas Is Back With More Than $200 Billion In New Investment (7 March 2023): By Rystad Energy - The offshore oil and gas (O&G) sector is set for the highest growth in a decade in the next two years, with $214 billion of new project investments lined up. Rystad Energy research shows that annual greenfield capital expenditure (capex) will break the $100 billion threshold in 2023 and in 2024 – the first breach for two straight years since 2012 and 2013. As global fossil fuel demand remains strong and countries look for carbon-friendly production sources, offshore is back in the spotlight. Offshore activity is expected to account for 68% of all sanctioned conventional hydrocarbons in 2023 and 2024, up from 40% between 2015-2018. Comparisons against this period are prudent as it predates the Covid-19 pandemic and related oil price crash. In terms of total project count, offshore developments will make up almost half of all sanctioned projects in the next two years, up from just 29% from 2015-2018. ... (Source: Oil Price)
Africa’s Oil Industry Is Set To Flourish In 2023 (6 March 2023): By Felicity Bradstock - Several energy firms have developed oil and gas projects in Africa and the Caribbean in recent years as they shift to focus on low-carbon oil and future-proofing their operations. With mounting pressure to decarbonize, many oil and gas majors have moved away from aging, carbon-intensive operating sites in favor of developing new projects in non-traditional oil regions. Meanwhile, African countries are determined to claim their piece of the global energy pie, unwilling to give up valuable natural resources without taking a stake in operations. ... (Source: Oil Price)
Ethical Dilemmas In The Transition To Renewable Energy (4 march 2023): By Michael Kern - The world is currently undergoing a significant shift in energy production and consumption. As we move away from fossil fuels and towards renewable sources of energy, we are not only reorganizing our energy infrastructure but also redistributing power, wealth, risk, vulnerability, and resilience. This energy transition presents a host of ethical dilemmas that must be addressed if we are to create a sustainable future for ourselves and future generations. The energy transition matters because it has far-reaching implications for society as a whole. The way we produce and consume energy affects our environment, economy, health, security, culture, and politics. By transitioning to renewable sources of energy such as wind power, solar, hydroelectricity or geothermal power instead of relying on non-renewable sources such as coal or oil-based products like gasoline or diesel fuel, we can reduce our carbon footprint and mitigate the effects of climate change. ... (Source: Oil price)
How To Invest In Oil And Gas Transition Assets (2 March 2023): By Michael Kern - As the world moves towards a net-zero carbon future, the oil and gas industry is facing a critical juncture. On one hand, there is a growing demand for renewable energy sources, which are rapidly becoming more affordable and accessible. On the other hand, oil and gas will continue to play a crucial role in meeting global energy needs for years to come. Investing in oil and gas transition assets that can help bridge the gap between traditional fossil fuels and renewable energy sources is an essential step toward achieving net-zero emissions. In this article, we will explore what these transition assets are, why they matter, and how investors can get involved. ... (Source: Oil Price)
Politics And Propaganda: Why Putin Won’t Pull Out Of Ukraine (1 March 2023): By The Jamestown Foundation - Among the many terrible consequences of Russia’s full-scale aggression against Ukraine launched by Vladimir Putin a year ago, one should be singled out—that is, the Russian president’s inability to end the conflict as currently constituted. Several primary factors underline this fact. First, the war has caused an unusually high level of support among the Russian public for the Russian authorities and Putin personally; in recent years, before the invasion, this rating had been steadily declining (Radio Svoboda, May 25, 2019). Even independent sociologists, for example, the scientific director of the Levada Center (labeled as a “foreign agent” in Russia), Lev Gudkov, admit that public support is “not very clearly expressed, but quite tangible for the authorities and the war itself in society.” ... (Source: Oil Price)