Monday, February 27, 2006
Signs of World Wide Energy Sector Transformation
"China, seeking oil and gas to fuel its booming economy amid stagnant production at home, has been snapping up energy resources in places as far flung as Venezuela, Kazakhstan, Nigeria and Australia." (Times Leader Feb 21, 2006)
Former CIA Director James Woolsey, a staunch neo-conservative who is pushing for military intervention in the Middle East, warned the conference of the "potential use of oil as a weapon to affect our security and our behavior." (source Brookings Institution, March 5, 2004)
Our Federal government began offering tax credits for solar water heating systems (30% tax credit and five-year accelerated depreciation) in 2006.
George Bush is grasping at the straws of hydrogen cars and cellusic ethanol fueled cars - to replace our oil addiction. (see previous post)
Procter and Gamble is making a cold water Tide laundry detergent.
GAGEX, the only mutual fund that mentions peak oil in its prospectus, was the 4th best performing US mutual fund in 2005.
Statements made at the Renewable Energy Finance forum in June of 2005 in New York City included: that renewable energy was the next big multi-billion dollar sector with significant growth potential.
All the Japanes firms are introducing mini cars - you will soon see the Honda Fit, the Nissan Versa and perhaps you have noticed the Toyota Scion line.
Kuwait recently announced that they have half as much oil as they thought they did. (Gulf Times Feb 26, 2006)
The Bush administration is working on making nuclear waste fuel reprocessing legal again. Carter made it illegal for fear of nuclear proliferation.
Stocks of railway companies have been doing really well. (And I thought about buying some a eight months ago - ah well.) Nuclear companies too.
State's around the country - are passing renewable portfolio standards (RPS). A RPS requires the utilities in each state to generate a specific share of their electricity sales from new renewable generation.
Chevron USA - has the "will you join us" campaign going. Where they say "It took us 125 years to use the first trillion barrels of oil. We'll use the next trillion in 30." (Note experts estimate that there are two trillion barrels of conventional oil in the world.)
Governor Schwatznegger just got California to offer about $3 billion in incentives for solar electric systems.
China's worrying about energy. Here is one example from the Chinease Ministry of Construction (Feb 24 2006) "Bay windows, French windows, or any other designs which are too much energy-consuming, will be prohibited in Huhan, Hubei Province as of January this year."
Apparently Shell oil is thinking about buying the world's largest wind turbine manufacturer Vestas. Forbes online 2,23,2006
Russia is gaining new petro/gas- political power
"When Russia turned off the gas to Ukraine, it sent shivers across Europe where customers are increasingly dependent on Russia to keep warm." (BBC News, Moscow Feb 14, 2006)
Russia has stated that they hope to provide 10% of US natural gas use in the next decade.