Tag Archives: fossil fuel energy

Climate action could halve energy firms’ worth – bank

The Daily Climate 3 February 2013.

For the world to succeed in reaching targets for curbing greenhouse gases, a leading bank says huge quantities of oil and gas reserves must be left unused. This is the first time the financial sector has been warned by one of its own that shares could plummet if the necessary action is taken to prevent disaster…

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Gas Bubble Leaking, About to Burst

Richard Heinberg 12 November 2012

The US Presidential election campaign served up much in the way of promises but worryingly little in the way of energy and climate reality. For this month’s Museletter I’ve included three pieces I wrote as the campaign wrapped up — the last of the three is intended as tongue in cheek humor. I would also invite you to read an op-ed which I co-authored with Tom Butler that appeared in the Christian Science Monitor.

Download printable PDF version here (PDF, 105 KB)

Gas Bubble Leaking, About to Burst

Gas rig at sunset

For the past three or four years media sources in the U.S. trumpeted the “game-changing” new stream of natural gas coming from tight shale deposits produced with the technologies of horizontal drilling and hydrofracturing. So much gas surged from wells in Texas, Oklahoma, Louisiana, Arkansas, and Pennsylvania that the U.S. Department of Energy, presidential candidates, and the companies working in these plays all agreed: America can look forward to a hundred years of cheap, abundant gas!

Eskom seeks yearly increases of 16% to 2018i

Engineering News 22 October 2012.

State-owned electricity utility Eskom has submitted its third multiyear price determination period (MYPD3) application to the energy regulator, in which it is requesting average yearly tariff increases of 16% for the five-year period from April 1, 2013, to March 31, 2018.

The utility indicated on Monday that, if granted, the increases would raise the price of electricity from 61c/kWh currently to a nominal 128c/kWh by 2017/18, or to 96c/kWh real at the conclusion of the tariff period…

(Editor’s note: There are some confusing calculations in this article, for instance: “… industrial customers receive a 21% average yearly hike over the period, from 57.2c/kWh to 69c/kWh…”. This incorrect, 57.2c esacalated by 21% of ONE year is 69.2c, for five years it comes to 148.4c/kWh. Similarly ” municipal tariffs were set to rise by an average of 13% a year over the period, from 57.3c/kWh to 64.9c/kWh.” 57.3 escalated by 13% for ONE year comes to 64.7, but for five years comes to 105.6.)

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Investing in ‘water-less’ green solutions imperative — Greenpeace

Business Day Live 17 October 2012.

INVESTING heavily in renewable energy resources that did not use water would stimulate the South African economy and halve the amount of water consumed by South Africa’s energy sector, Greenpeace South Africa said in a report released on Wednesday.

South Africa is a net importer of water and has already allocated 98% of its available fresh water. It is estimated the country’s coal-fired power generation uses 4.84% of the national water supply. According to Eskom’s website, about 77% of South Africa’s primary energy needs are met with coal…

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Fracking (for) the future

GreenIndustries.org 30 September 2012.

Gas as an energy source has grown in significance in the 21st century for two main reasons: as a more widely distributed alternative to geographically concentrated, scarce and increasingly expensive oil; and as a cleaner, lower-carbon fuel, particularly compared to coal, in the context of the growing imperative to address the carbon dioxide emissions that drive climate change…