Category:

GFEI report suggests $2T savings from fuel economy improvements in ICE vehicles through 2025 can help fund long-term transition to plug-ins

« DOE Inspector General criticizes agency’s handling of disclosures over Ecotality awards | Main | U-Mich Mobility Transformation Center targeting full autonomous vehicle deployment in Ann Arbor by 2021 » Print this post GFEI report suggests $2T savings from fuel economy improvements in ICE vehicles through 2025 can help fund long-term transition to plug-ins Fuel economy improvements from conventional internal combustion engine cars can save an estimated $2 trillion in fuel costs through 2025—and more in years after— according to a new working paper published by the Global Fuel Economy Initiative (GFEI) prepared by Dr. Lew Fulton, Co-Director, NextSTEPS Program at the Institute of Transportation Studies, University of California at Davis. The GFEI, a partnership of international agencies and top energy policy experts, suggests that these cost savings could in part be used to help offset the costs of developing a global market for electric vehicles over this time […]

Posted On : Published By : Tom Whipple
Category:

Brent Falls to Four-Month Low as Euro Falls on ECB Cut

Brent crude dropped to the lowest level in more than four months as the euro tumbled against the dollar after the European Central Bank unexpectedly cut its benchmark rate to a record low. The North Sea oil slipped 1.7 percent while West Texas Intermediate crude declined 0.6 percent. ECB President Mario Draghi pledged to keep borrowing costs low for an “extended period” in comments in Frankfurt . The euro fell the most against the U.S. currency in two years, reducing the appeal of dollar-denominated raw materials as an investment. The slide accelerated after the American economy grew more than forecast, bolstering bets the Federal Reserve may curb stimulus. “The stronger-than-expected U.S. GDP number and the unexpected ECB rate cut are strengthening the dollar,” said Tim Evans, an energy analyst at Citi Futures Perspective in New York. “A stronger dollar is generally associated with weaker commodity prices across the board […]

Posted On : Published By : Tom Whipple
Category:

Natural Gas Futures Gain Fourth Day on Cold Weather in U.S. East

Natural gas rose for a fourth day in New York on forecasts for colder-than-normal weather in the eastern U.S. that may boost demand for heating. Futures for December delivery gained as much as 0.7 percent to $3.542 per million British thermal units in electronic trading on the New York Mercantile Exchange , and were at $3.538 at 11:48 a.m. Singapore time. The volume of all futures traded was about 45 percent less than the 100-day average. The contract climbed 0.6 percent to $3.519 yesterday and is up 0.7 percent this week, set to snap a three-week losing streak. Temperatures may be below average in the eastern half of the U.S. through Nov. 16, according to MDA Weather Services in Gaithersburg, Maryland . The low in New York on Nov. 14 may be 32 degrees Fahrenheit (0 Celsius), 10 degrees less than usual, said AccuWeather Inc. in State College , […]

Posted On : Published By : Tom Whipple
Category:

Asian LNG Prices Rise Sharply

By Eric Yep Spot liquefied natural gas prices in Asia have risen sharply as power producers have started stockpiling for the winter much sooner than usual this year. The price for LNG for delivery to Asia in the second half of December is around $17.90 per million metric British thermal unit compared with less than $14 per mmBtu at this time last year, Singapore-based traders say. Liquefied natural gas storage tanks and a tanker at Tokyo Electric Power Co.’s Futtsu thermal power station east of Tokyo. Reuters If trading of forward swaps for the clean-burning fuel provides an accurate indication of the trend over the next month or so, LNG is set to surpass the price of crude oil. Swaps, derivatives that ascribe a notional value to traded items, put LNG at $18.30 per mmBtu in January, which is equivalent to ICE Brent crude around $105 a barrel. Brent […]

Posted On : Published By : Tom Whipple
Category:

The Key Numbers On The Oil Industry's Problems

Benefit From the Latest Energy Trends and Investment Opportunities before the mainstream media and investing public are aware they even exist. The Free Oilprice.com Energy Intelligence Report gives you this and much more. Click here to find out more. Some fascinating data points on the global oil and gas business from Ernst & Young last week. The group released its annual Global oil and gas reserves study. And the findings suggest some worrisome trends afoot in the petroleum business. The report confirmed that high costs are plaguing the business. Exploration and development spending by E&Ps globally jumped 20% in 2012 alone. And rose a towering 48% between 2008 and 2012. On its own, the rise in spending might simply indicate good times at hand for the industry. But a few other numbers from the report sound a warning on this front. Namely, profits. Despite the big increase in spending, […]

Posted On : Published By : Tom Whipple
Category:

The Key Numbers On The Oil Industry’s Problems

Benefit From the Latest Energy Trends and Investment Opportunities before the mainstream media and investing public are aware they even exist. The Free Oilprice.com Energy Intelligence Report gives you this and much more. Click here to find out more. Some fascinating data points on the global oil and gas business from Ernst & Young last week. The group released its annual Global oil and gas reserves study. And the findings suggest some worrisome trends afoot in the petroleum business. The report confirmed that high costs are plaguing the business. Exploration and development spending by E&Ps globally jumped 20% in 2012 alone. And rose a towering 48% between 2008 and 2012. On its own, the rise in spending might simply indicate good times at hand for the industry. But a few other numbers from the report sound a warning on this front. Namely, profits. Despite the big increase in spending, […]

Posted On : Published By : Tom Whipple
Category:

Israel rejects mooted nuclear deal with Iran

JERUSALEM (Reuters) – Israel utterly rejects a mooted world powers deal with Iran aimed at ending a long-running row over its nuclear ambitions and will not be bound by such an accord, Prime Minister Benjamin Netanyahu said on Friday. Speaking as headed into a meeting with U.S. Secretary of State John Kerry, Netanyahu told reporters that Iran had got "the deal of the century". "Israel utterly rejects it and what I am saying is shared by many in the region, whether or not they express that publicly. Israel is not obliged by this agreement and Israel will do everything it needs to do to defend itself and the security of its people," he said. Israel has repeatedly warned that it might strike Iran if it did not halt its nuclear program, accusing Tehran of seeking to build atomic weapons. Iran says its various nuclear facilities are geared to civilian […]

Posted On : Published By : Tom Whipple
Category:

Iran Nuclear Deal Closer as Kerry Set to Arrive in Geneva

Iran and world powers edged closer to breaking the decade-long stalemate over the Islamic republic’s nuclear program, saying an initial accord is possible when they convene for a second day of negotiations in Geneva. Secretary of State John Kerry plans to make a visit to the Swiss city today in an effort to help narrow differences in the talks, according to a U.S. official who asked not to be identified because the plans weren’t public. A framework has been agreed on and negotiators will try to fill in details at today’s session, Iranian Foreign Minister Mohammad Javad Zarif said in an interview. “Our job now is to test how serious they are about resolving this conflict, or this dispute, through peaceful means, through diplomacy,” President Barack Obama said yesterday in an interview with NBC News. “We don’t have to trust them. What we have to do is to make […]

Posted On : Published By : Tom Whipple
Category:

Iran Nuclear Deal Expected as Early as Friday

GENEVA—Iran and world powers expect to announce an initial deal as early as Friday to curb Iran’s nuclear program in exchange for an easing of sanctions, a step that would mark the first breakthrough in a decade to blunt the threat of Tehran developing nuclear weapons. Secretary of State John Kerry will fly to Geneva on Friday to complete the deal, the State Department said. President Barack Obama described the emerging agreement Thursday in an interview with NBC News, saying that if Iran doesn’t live up to its end, “we can crank that dial back up” on sanctions. The two sides were jointly preparing a draft agreement ahead of a likely announcement, said Iranian and Western officials, although the plan could still unravel. The White House already faces major opposition both from its allies in the Middle East and members of Congress. Israel, in particular, has been deeply skeptical. […]

Posted On : Published By : Tom Whipple
Category:

Lebanon's gas boom-in-waiting goes into deep freeze

BEIRUT, Lebanon, Nov. 7 (UPI) — Lebanon’s energy boom-in-waiting seems to be more or less on permanent hold these days, with little prospect that the country’s perpetually feuding politicians can set aside their sectarian rivalries to get exploration under way. But the danger of spillover from the Syrian civil war next door and meddling by regional powers like Saudi Arabia and Iran could well put the whole economy-saving enterprise into deep freeze for a long time. The most immediate problem is that Lebanon, squeezed by a national debt of $60 billion and its economy crumbling by the day, has been without a government since March, when the Iranian-backed Hezbollah engineered the collapse of a so-called unity Cabinet. All efforts to cobble together a new one have foundered on the sectarian rivalries that have dogged the tiny Mediterranean state since France bestowed independence in 1943. At that time, Christians, headed […]

Posted On : Published By : Tom Whipple