As Western nations put more restrictions on coal power generation, China will continue to burn. Reuters's Colleen Howe reports: XIAMEN, China, March 8 (Reuters) - China's coal imports are expected to be little changed or decline in 2024 despite an expected increase in overall demand for the polluting fuel, officials from industries, state-run utilities and traders said on Friday. Tepid growth in shipments by the world's top importer of the fuel could suppress global prices and worsen fears of oversupply, with Indonesia, the world's top exporter of coal, expected to further boost exports … [Read more...]
Struggling to Keep Up With Power Hungry Data Centers
Evan Halper of The Washington Post reports America is running out of power. The aging power grid, after a decade absent of upgrades, is scrambling amid soaring demand from electricity-hungry data centers. Halper writes: Vast swaths of the United States are at risk of running short of power as electricity-hungry data centers and clean-technology factories proliferate around the country, leaving utilities and regulators grasping for credible plans to expand the nation’s creaking power grid. In Georgia, demand for industrial power is surging to record highs, with the projection of electricity … [Read more...]
OPEC+ Considers Extending Voluntary Production Cuts into Second Quarter
William Watts of MarketWatch reports oil prices pulled back after industry data showed a large rise in U.S. crude stocks. Watts writes: William Watts Oil futures fell Wednesday after industry data showed a large rise in U.S. crude inventories last week ahead of official government figures. Meanwhile, OPEC+, made up of the Organization of the Petroleum Exporting Countries and its allies, including Russia, was weighing an extension of voluntary production cuts into the second quarter, Reuters reported, citing unnamed sources. OPEC+ agreed in November to voluntary cuts of 2.2 million … [Read more...]
Low Gas Prices Could Trigger a Switch by Regional Power Producers
Gavin Maguire of Reuters reports that weak gas prices are primed to trigger a coal-to-gas switch in Germany's multi-fueled gas and coal-fired plants. Maguire writes: A more than 25% slump this year in Northwest Europe's benchmark natural gas price has helped push the price of gas-fired power generation below the cost of coal-fired generation, and sets the stage for fuel switching by key regional power producers. Utilities that operate networks of both gas and coal-fired plants, such as in Europe's largest economy Germany, are likely to dial up generation from gas plants and cut back … [Read more...]
E.U. Industry Deal Looks to Rival China and U.S. in Green Shift
John Ainger and Ewa Krukowska of Bloomberg are reporting that Europe risks losing out to China and the U.S. if they don't cut red tape and boost clean tech funding. They write: The heads of major industrial companies want the European Union to cut energy costs and the regulatory burden of green rules to help the region stay competitive as the energy transition accelerates. Over 70 business and industry leaders — including Jim Ratcliffe, the billionaire chairman of chemicals giant Ineos Group, are urging the bloc to introduce a European Industrial Deal to boost competitiveness during the … [Read more...]
Shale Cowboys and the New Phase in the Oil Revolution
Myles McCormick of the Financial Times writes about how a multi-billion dollar wave of consolidations has given ten companies control over more than 6.4mn barrels of oil, raising efficiency and lowering production costs. McCormick writes: The shale revolution that began about 15 years ago saw a proliferation of thousands of small-time drillers turn the global energy order on its head and restored the US to the status of world’s biggest producer. Today, as a multibillion-dollar wave of consolidation washes over the Permian Basin — the engine room of America’s oil industry — that landscape has … [Read more...]
Natural Gas Consumption to Triple in India by 2050
U.S. Energy Information Administration is projecting natural gas consumption to more than triple in India by 2050. They write: In our International Energy Outlook 2023 (IEO2023), we project natural gas consumption to more than triple in India by 2050. We project annual growth of 4.4% over that period, more than twice the 2.0% annual growth rate of natural gas consumption in China, the next-fastest-growing country. We project that India’s industrial sector—in particular, ammonia production intended to decrease fertilizer imports—as well as a growing oil refining sector will drive most of … [Read more...]
World LNG Demand Up at Least 50% by 2040
AFP is reporting a forecast by Shell that world demand for liquefied natural gas will jump 50% by 2040, and it's fueled by China dumping coal. They write: British energy group Shell on Wednesday forecast that world demand for liquefied natural gas would jump more than 50 percent by 2040, fuelled by China dumping coal. "Demand for natural gas has already peaked in some regions but continues to rise globally, with LNG demand expected to reach around 625-685 million tonnes a year in 2040, according to the latest industry estimates," Shell said in a report. Global LNG demand would grow … [Read more...]
Can the U.S. Close the Gap on China’s Solar Supply Chain?
Phred Dvorak and Andrew Mollica of The Wall Street Journal report that the U.S. is trying to play catchup in the solar panel supply chain. China controls most of the world’s solar supply chain with cheap labor and decades of experience. They write: China has come to dominate every step of the long, complex manufacturing process for solar panels. Part of the reason for that dominance, built over two decades, is that the cost of everything from electricity to labor is much cheaper there than in places such as the U.S. or Europe. More recently, the massive scale of China’s solar-manufacturing … [Read more...]
Chinese Solar Giants Reaping U.S. Government Aid
Phred Dvorak of The Wall Street Journal reports that China’s biggest solar companies are expanding in the U.S., where they will reap generous government aid. Dvorak writes: For years, the U.S. erected higher and higher barriers to the import of Chinese solar panels, arguing that was the best way to protect domestic suppliers. Now, China’s solar giants are building their factories inside the U.S. During the past year, the world’s biggest solar companies, all of which do the bulk of their manufacturing in China, have quietly launched plans to set up or expand panel factories in … [Read more...]
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