Archive for October, 2017
Puerto Rico power contract under investigation by FBI- WSJ
$300 million Puerto Rico power contract awarded to small Montana company On Monday, the Wall Street Journal reported that the FBI is investigating the $300 million Puerto Rico power contract awarded to a small US energy startup company. At the time the company was awarded the contract, Whitefish Energy Holdings had only two full-time employees. […]
Column: Oil market set to move from rebalancing to tightening
Oil market rebalancing began before OPEC pact By John Kemp LONDON, Oct 30 – The oil market is now well into a cyclical upswing and within the next year the narrative about “rebalancing” is likely to be replaced by one about “tightening”. Rebalancing started well before the production pact between the Organization of the Petroleum […]
Column: Brent crude tries new trading range as funds stay bullish
Brent crude may climb towards $65/barrel: Fund managers By John Kemp LONDON, Oct 30 – Hedge funds have added to bullish positions in oil and most refined products even as prices hit their highest since 2015, in a sign investors expect prices to move into a higher range. Hedge funds and other money managers had […]
Column: California’s real gasoline tax problems
Gasoline tax goes up 12 cents in California on Wednesday By Severin Borenstein Who wouldn’t like to pay lower taxes and get cheaper gasoline? That’s why there will be a lot of grumbling Wednesday when California’s gasoline tax goes up by 12 cents per gallon. There’s already enough pushback that it’s easy to imagine a proposal to repeal […]
Canada’s electricity sector will get even greener – NEB
Alberta, Saskatchewan generate most electricity from coal, natural gas The National Energy Board’s latest report, Energy Futures 2017, projects considerable changes to the electricity capacity mix, primarily for non-hydro renewables and natural gas, according to a press release. Canada had just under 147 gigawatts (GW) of installed electricity generation capacity in 2016. Of this capacity, 55 per cent was […]
Gulf Coast refinery runs approaching levels seen prior Hurricane Harvey
Hurricane Harvey caused many refineries either reduced runs or temporarily shut down For week ending Oct. 20, 2017, gross inputs to petroleum refineries in the U.S. Gulf Coast averaged 8.8 million b/d, or about 324,000 b/d higher than the previous five-year range for mid-Oct., based on data in EIA’s Weekly Petroleum Status Report (WPSR). Gross inputs, also […]
Toyota scrambles to ready solid-state battery for EVs
Solid-state battery offers more capacity, better safety Toyota is feverishly working to solve remaining issues with its solid-state battery technology, which the company hopes will help cut costs of building electric cars. The solid-state batteries are high-capacity energy storage devices that will better lithium-ion batteries, and replace the liquid or gel-form electrolyte with a solid, […]
Kinder Morgan appeals to NEB after Burnaby denies permits
Kinder Morgan looking for construction approval Kinder Morgan is appealing to the National Energy Board for construction approval after the city of Burnaby denied the company permits for its Trans Mountain pipeline expansion project. The City of Burnaby has been a prominent opponent of the project and the stalled permit process is adding more hurdles […]
Oil prices up, Brent hits $60 on support for OPEC deal extension
Oil prices rise over 2 per cent Oil prices rose on Friday after the top participants in the OPEC supply cut pact said they would support extending the deal and the US dollar fell from three-month peaks. After reaching an early session high of $60.08, the highest since July 2015, Brent sat at $60.03/barrel, up […]
Canadian fossil fuel use plateaus by 2019…then barely declines over next 21 years
Canadian energy consumption stagnates, but production of oil/gas rises substantially, says NEB The headlines will scream that Canadian fossil fuel use plateaus by 2019, according to the National Energy Board’s new energy outlook, but the real story is just how slowly consumption of natural gas and oil declines between now and 2040. The Energy Transition […]
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