Cheap oil's ripple effect; Russia's pipeline politics; Obama's methane rules [Recharge]
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聽written by Monitor reporters.
Ripple effect: Rising oil production propped up the global economy鈥檚 tepid recovery; a slowdown in that production threatens to reverse the trend.聽聽鈥 Halliburton, Baker Hughes, US Steel, Schlumberger, BP, ConocoPhillips. That impact will go beyond just energy and manufacturing, most notably into the financial sector.聽, and now many face strong headwinds if it goes bust.
Dividing lines: Just as fighting intensifies again in Ukraine, so too do the pipeline politics around it.聽聽in favor of a new pipeline through Turkey. The move issues Europe a familiar ultimatum 鈥 either connect with an alternative route around Ukraine, or get your gas from someone else. To some extent,聽.
CH4: Rather than temper climate action in the face of a newly Republican-led Congress, President Obama is expanding it. The White House鈥檚 new methane rules are modest, but they represent聽an expansion of greenhouse gas limits beyond those on CO2 and the coal industry. Obama has his eye on US-China emissions targets, the Paris climate talks, and his own legacy. With the midterms over, he has little to lose by rankling industry.聽.
In the pipeline
- Tuesday, Jan. 20: WASHINGTON and THE INTERNET 鈥撀. Energy is sure to play a major role, as Obama seeks to meet climate goals ahead of the Paris talks. Meanwhile in Congress, the GOP-led Senate debates a bill to pass Keystone XL (which Obama will veto) and聽聽that read like a list of top energy issues 鈥 from lifting the oil exports ban to bolstering energy efficiency.
- Wednesday, Jan. 21: NEW YORK and THE INTERNET 鈥 Columbia University鈥檚 Center on Global Energy Policy launches a report titled 鈥溾 (). Thomas E. Donilon, former National Security Advisor, will deliver keynote remarks on energy geopolitics and national security.
Drill deeper
听摆Reuters]
Putting solar panels over canals doesn鈥檛 just save land 鈥 it also prevents scarce water resources from evaporating in the sun. Increased solar innovation in India鈥檚 western state of Gujarat comes ahead of Obama鈥檚 visit to the country later this month, when Indian Prime Minister Modi is expected to call for US investment in clean technology.
[Wired]
The race is on for the mass-market electric car. Chevy has a $30,000 EV with a 200-mile range in the works, and it could beat Tesla鈥檚 long-anticipated Model 3 to market. Chevy鈥檚 Bolt could be out as soon as 2017, but hitting a 200-mile range will require a better, cheaper battery than anything currently on the market.
[FiveThirtyEight]
鈥Venezuela鈥檚 oil subsidy is the Cuban state鈥檚 single largest source of revenue. It鈥檚 worth a billion dollars more than the $2.6 billion the country reportedly earns from tourism annually,鈥 writes Francisco Toro. 鈥淓ven without any cut in the volumes sent, the value of Venezuela鈥檚 in-kind aid to Cuba has already fallen by almost half in the last six months.鈥
Energy sources
- : "How low the market's floor will be is anybody's guess. But the selloff is having an impact. A price recovery 鈥 barring any major disruption 鈥 may not be imminent, but signs are mounting that the tide will turn."
- : "[T]he United States now employs more people installing solar systems (97,031) than it does mining coal (93,185)."
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: "The globally averaged temperature over land and ocean surfaces for 2014 was the highest among all years since record keeping began in 1880."
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聽written by Monitor reporters.