Concerns regarding security of supply have driven Brent crude prices up 3% and US crude up 2% in the wake of recent developments. Crude oil prices have risen sharply due to the uncertainty in Iraq. Prices for Brent crude futures have risen to over $113 per barrel, the highest price for almost a year. Iraq is the second-largest oil producing … Read More
Natural gas prices in the US have dropped by almost two thirds since they started ‘fracking’ for shale gas. Could we see a similar boost to the UK economy any time soon? Shale Gas – probably the only hope we have of producing a significant amount of useful, home-grown energy in the next decade or two. Some say it is … Read More
The UK’s largest energy supplier made a record profit in the first six months of 2012, and has hinted that further rises may be coming in the next year and a half. The company, which is a part of Centrica plc, announced profits were up £64m to around £345m – back to “normal levels” according to Nick Luff, Centrica’s Finance … Read More
James Lovelock, long-time environmental guru and the inventor of the Gaia Hypothesis says environmentalism is taking over from Christianity, and thinks we should ‘go mad on’ shale gas. In an interview in the Guardian, the celebrated environmental scientist also declares that he is not worried about sea-level rises, Germany is crazy for ditching nuclear power, how wind turbines are “ugly … Read More
Germany’s once booming solar power industry is declining at an alarming rate, with 20,000 jobs being lost in 2011 alone. Germany once had the biggest solar industry in the world, providing around 150,000 jobs by 2010, but that bubble seems to be starting to burst, as demand for solar technology drops, government subsidies are cut and competition from cheaper Asian … Read More
After weeks of stalling climate talks, 194 countries finally managed to agree to sign up to Kyoto II in 2015, after agreeing a new text known as the ‘Durban Platform’. A week ago it looked likely that talks would fall apart as they did in Copenhagen , seemingly with China, India and the US all at loggerheads over signing the … Read More
Representatives from 194 countries around the world have been at COP17 in climate talks for the past week trying to get Kyoto II signed, but the US, China & India are barely even talking. With global carbon emissions higher than ever before, the UNFCCC is pushing hard for a successor to the Kyoto Protocol, but the two fastest growing economies … Read More
The USA’s $38.6 billion “green-tech” program has so far only created a fraction of the green jobs that were promised. Various media outlets around the world are reporting on what’s becoming known as the Solyndra Scandal. Solyndra was a company that made solar panels, and was funded by Obama’s green-tech subsidy program. “The future is here” said Mr. Obama, when … Read More
The UK has teamed up with a US laser lab, hoping to develop clean energy from nuclear fusion The new technology uses lasers to compress hydrogen atoms together until they fuse, releasing large amounts of energy. Experiments at The National Ignition Facility (NIF) in the US have been promising, producing huge bursts of energy.
The world largest mining company has invested £7.5bn into shale gas technology. BHP Billiton has agreed to purchase American shale gas company Petrohawk Energy in a £7.5bn deal, its biggest acquisition to date. It is the company’s second major investment into shale gas technology in the year, as BHP also purchased a gas field from Chesapeake Energy in February.
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