Energy Update
Look around the U.S. and you’ll find plenty of examples of smart policy that is driving the adoption of cleaner, more efficient energy resources. In particular, California, New York, and Illinois are all leveraging policy to reduce carbon pollution and transition to a 21st century electric grid.
In addition to its many other devastating human consequences, Hurricane Maria left the island of Puerto Rico with its power grid in ruins. Power was knocked out throughout the island, with an estimated 80 percent of its transmission and distribution wires incapacitated. When hospitals and other critical users could not get backup power and water supplies ran low, an extended outage became a humanitarian crisis that has yet to be resolved.
Every day our power needs fluctuate, causing grid operators to make quick decisions to balance the U.S. grid. This can happen on hot summer days when people are turning on their air conditioners or in the middle of winter when they crank up the heat. Either way, grid operators must find a way to meet rapid spikes in energy demands.
The iron ore forward curve has made history in November by recording the longest period of contango* in its brief existence.
(Tue, 14 Nov 2017) Russia exported more than 5.2 million barrels per day (b/d) of crude oil and condensate and more than 2.4 million b/d of petroleum products in 2016, mostly to countries in Europe. Exports of crude oil and petroleum products represented nearly 70% of total Russian petroleum liquids production in 2016.
GulfMark Offshore has completed its financial restructuring plan and emerged from bankruptcy protection under chapter 11 of the US Bankruptcy Code.
Oman Oil Refineries and Petroleum Industries Company's (Orpic) Mina Al Fahal Refinery has commenced its startup operations after a major turnaround, maintenance and project activities.
Today's topics include PV module pricing and how the trade case is already impacting prices despite that fact that nothing has been made official yet. As Paula says, “no news is bad news.”
The Microgrid 2017 conference, which ran from November 6-8 in Boston, kicked off with a list of events that point to a desperate need for microgrids, and I bet you’ve heard of them:
Ever closer relations between Saudi Arabia and Russia, the world’s two largest oil exporters, look like a nightmare for China, the world’s largest oil importer. However, as the originator of demand in a world where peak oil consumption hovers on the horizon, it is Beijing that ultimately holds the whip hand.
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