Scientists in Japan and the U.S. say they are moving closer to tapping a new source of energy: methane hydrate, a crystalline form of natural gas found in Arctic permafrost and at the bottom of oceans. The government of Japan—where natural gas costs are currently $16 per million British thermal units, four times the level in the U.S.—has vowed to bring methane hydrate into the mainstream by 2023 after a successful drilling test in March. If Japan can deliver on its vow to produce natural gas economically from the methane hydrate deposits off its shores, it could experience a natural-gas boom that matches the fracking-fueled one under way in North America, said Surya Rajan, analyst at IHS CERA. --Ben Lefebvre,
The Wall Street Journal, 29 July 2013
Methane hydrates are the largest reserve of hydrocarbons in the planetary crust. The methane hydrates in sediment considered part of U.S. territory alone could supply U.S. natural gas needs for 1000 years. So far humanity has not devised a process to economically harvest this immense energy wealth. Today’s DOE announcement may point the way to a new era in abundant energy to build out a bigger and better world economy. --
The Global Warming Policy Foundation, 3 May 2012
The ongoing debate over the role of fossil fuels as opposed to the increased implementation of renewable or alternative energy sources is likely to continue with a report from the U.S Energy Information Administration showing that world power consumption is expected to increase by 56 percent from now until 2040, with traditional engineering resources naturally playing a big role. Developing countries are expected to provide the bulk of demand, with the EIA report projecting that it will grow by 90 percent by 2040, compared to a relatively small increase of 17 percent in existing industrialized regions. --
Knovel News, 29 July 2013
Saudi Arabia and the Opec oil states must wean their economies off energy exports immediately or spiral into decline as America’s shale revolution shatters the world order, a top Saudi business leader has warned. If shale does deliver on its promise and keeps prices low for decades, it will be a mortal threat to OPEC states that rely on oil revenue to cover social spending and placate fast-growing populations.--Ambrose Evans-Pritchard,
The Daily Telegraph, 29 July 2013
The South East must accept shale gas exploration for the sake of Britain’s economic future, Energy Minister Michael Fallon declared today. He stepped after Surrey-based peer Lord Howell caused outrage by saying “desolate” areas of the North East should be targeted instead. “It cannot be right to confine it to areas of the industrial North,” he told the Evening Standard. He said the South could become “the second biggest area of shale in Britain” and everyone would benefit from the extraction. “If we can extract shale gas as cheaply and efficiently as they have done in he United States, everybody benefits,” he said. --Joe Murphy,
The London Evening Standard, 31 July 2013
The Czech government approved a draft law to end support for renewable energy, proposing to stop subsidies for new projects at the end of this year. Subsidies for renewable-power sources, particularly solar plants, have raised prices for Czech energy users in the past three years as the cost is passed on through customer bills. “The reason for this law amendment is the rising financial burden for electricity consumers,” Prime Minister Jiri Rusnok said in the statement. “It threatens the competitiveness of our industry and raises consumers’ uncertainty about power prices.” --Ladka Bauerova,
Bloomberg, 26 July 2013
Can anyone really predict what the world’s energy market will look like in 2040? Many certainly try – including companies and governments – but they don’t deserve to be taken too seriously and certainly shouldn’t be the basis for decision-making. –Nick Butler,
Financial Times, 30 July 2013
The gloves are off. In recent days, a sustained attack on environmentalism (sic) has been mounted in the UK media. The Times, the Telegraph and the Financial Times have all run articles by influential journalists blaming the environment community for our current woes. In the Financial Times, John Kay blamed environmentalist's malign influence on procrastinating politicians for the risk that the lights will go out. In the Telegraph a fawning interview of Nigel Lawson by Cristina Odone saw him accusing the green reds under the bed of making us slaves to Russia and the middle east. In the Times, Tim Montgomerie used a blunderbuss of bilious invective to blame environmentalists for world poverty and domestic unemployment. --Tom Burke,
The Guardian, 26 July 2013
The BBC could see its powers curbed as part of a review of the rules on media plurality, the government announced yesterday. Investigations into excessive dominance of the media market do not currently look at the role of the public broadcaster. But the review, unveiled by culture secretary Maria Miller, will consider changing this on the basis that BBC spends more on current affairs than all other UK broadcasters combined. --James Waterson,
City A.M., 31 July 2013
