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Energy

CEO bonuses are fuelling the oil glut

Cash in a suitcase

If you owned an oil well today, your best bet would be to cap it, wait for the current over-supply of oil to be used up, and then start pumping again once prices had risen above $100 again.  That would be common sense.  But that isn’t how things are playing …

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It’s one-and-a-half cheers for Welsh energy policy

Welsh Government building

It is hard to argue with the sentiment behind the Welsh Government energy policy set out in A Smarter Energy Future for Wales.  But in practice it has all the urgency of an elderly couple out for a Sunday afternoon stroll. Launching the policy, Alun Ffred Jones AM, Chair of …

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Big Six energy companies feel the heat

Big Six feel the heat

Over the weekend Npower announced that it was shedding 2,500 jobs in the UK after posting a £48 million loss for the first nine months of last year.  Yesterday E.On posted a 7 million euro loss.  And there are signs that the other four big energy suppliers – EDF, SSE, …

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Oil Prices to fall again… why you should be worried

Rotterdam tank farm

For most of us, petrol and diesel at less than £1.00 per litre can only be a good thing.  Not only are we spending less on our personal travel, but the transportation cost of the goods that we buy has been falling too.  But economists and politicians have breathed a …

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UK energy U-turn cost £3.14bn

Money

A report from the parliamentary energy and climate change committee claims that the dramatic shift in UK energy policy since the Tories were elected last year has cost UK energy consumers an additional £3.14bn in interest payments on investment. According to committee chair Angus MacNeil MP: “Billions of pounds of …

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UK Government hits panic button over energy security

time to panic

Following the National Grid announcement that Britain faces an energy deficit next winter, the government have brought forward the capacity auction scheduled for January 2017.  The capacity auction process had been under review, with a public consultation not due to end until April 2016. The announcement comes on the back …

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Could electric cars kill the UK economy?

Electric Car

We know that electric cars are good for the environment.  And with improvements in efficiency, the latest generation of electric cars can provide a range of 200-300 miles… more than enough for almost all of our journeys.  With battery technology improving, electric car sales are starting to take off. Since …

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Frackers look to R&D to escape the misery

microscope

With no end to the global oil glut and the consequent price slump, US fracking companies are turning to research and development to provide a way out (at least one that doesn’t include mass bankruptcies) according to Reuters. When oil prices rose above $100 a barrel following the 2008 crash, …

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Iran pours cold water on world oil freeze deal

Oil storage tank

With the world already oversupplied, and with oil prices well below most countries’ break-even price, Iran has added to the misery by promising to add another million barrels per day to the glut. In an exclusive interview with CNN, Deputy Oil Minister Amir Hossein Zamaninia explained that: “We do not …

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