Archive for the tag “United States”

The cost of Modis US Visit: Rs. 2.8 lakh cr for a dying technology and obsolete reactors

Prabir Purkayastha writes: The US, after a brief flirtation with nuclear energy, has pretty much decided not to invest any further in this technology. India is helping to revive a patient – the US nuclear industry – which has one foot already in the grave, at a cost of a whopping Rs. 2.8 lakh crore!
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Why is India importing US nuclear reactors that even the US doesn’t want?

Nityanand Jayaraman writes: A new report warns that India’s plans to import 12 nuclear reactors from ailing American  equipment suppliers is financially fraught and irrelevant for India’s electricity needs. If built, the reactors will cost anywhere between Rs 6.3 lakh crore and Rs 11 lakh crore, thereby translating to unaffordable and obscenely high electricity tariffs.

The deals have more to do with the financial well-being of US equipment suppliers than with the aspirations of Indias electricity consumers.
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Fifteen experts on the hidden consequences of the oil crash

Oil prices drive not just economics, but geopolitics. Alliances rise and fall over petroleum. For these reasons and more, the collapsing value of oil will have profound consequences, with the potential to destabilize regimes, remake regions and alter the global economy in lasting and unforeseen ways. Fifteen experts tell Politico what that means for the world.

Crude prices are at their lowest levels since 2003. Fifteen experts tell us what that means for the United States and the rest of the world.

Politico Magazine

For months, American drivers have been greeted at gas stations with a pleasant surprise: Gas prices have fallen by half, dropping an average of more than $2 a gallon since their most recent peak in 2011. President Barack Obama took a moment to bask in the credit last week in his State of the Union speech: “Gas under two bucks a gallon ain’t bad,” he said.
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News update

Indias 100 GW Solar Target Could Create 1 Million Jobs by 2022
The Energy Collective
Delhi is abuzz as the first renewable energy-financing summit organized by the Indian government, RE-Invest 2015, wrapped up with commitments totaling a whopping 266 GW of renewable energy in the next 5 years. For context of the magnitude of these commitments, the country currently has about 250 GW of total installed power from all sources. According to a new interim report, if India achieves its new target of 100 GW of installed solar energy by 2022, as many as 1 million FTE jobs could be created.

Is the US Overplaying Its Energy Hand?
Richard Heinberg
This is how empires crash: the folks in charge pay their information ministries to come up with only good news; rulers act on the basis of unrealistic assumptions; reality bites; and when it does, no one is prepared. The evidence suggests the United States is playing energy poker with a pair of jacks in its hand, but betting as if it had four aces.

Israel, Gaza, and Energy Wars in the Middle East
Michael Schwartz, Tomdispatch.com
Amid the many fossil-fueled conflicts in the region, one of them, packed with threats, large and small, has been largely overlooked, and Israel is at its epicenter. Its origins can be traced back to the early 1990s when Israeli and Palestinian leaders began sparring over rumored natural gas deposits in the Mediterranean off the coast of Gaza.

The Problem of Debt as We Reach Oil Limits (Part 3 – A New Theory of Energy and the Economy)
Gail Tverberg
Many readers have asked me to explain debt. They also wonder, “Why can’t we just cancel debt and start over?” if we are reaching oil limits, and these limits threaten to destabilize the system. To answer these questions, I need to talk about the subject of promises in general, not just what we would call debt.

Fooling peak oil one more time: can we find new sources of liquid hydrocarbons?
Ugo Bardi
The world peak of conventional oil production took place in 2005-2006, but the supply of combustible liquids did not decline, mainly because of the contribution of the newly developed shale oil (or tight oil) fields. With the impending worldwide peak of all liquids it is likely that the industry will try a new, all out effort to squeeze out the last drops of liquid oil from whatever sources are available, no matter how dirty and expensive.

Is An Infinite Amount of Oil Enough?
Rhett Allain, Wired.com
The burning of oil based products produces carbon dioxide and other stuff that’s not so nice. Also, there is only so much oil in the ground. Sure, the Earth keeps making more through a very slow process. But we are using it up way faster than it is being created by natural means. So, the question is: how much oil can we find? How long will it last? Let’s get started.

To Make Hope Possible Rather Than Despair Convincing
David Bollier
Discourse is law.  And it’s something that progressive advocates have never really learned.  They have never developed a discourse that can express their own putative values.  Wittingly or not, most have instead embraced the utopian narrative of American neoliberalism – that human progress will continue through economic growth, better technology, and a system of government that caters to the demands of capital while making grudging concessions to social or environmental concerns. 

News update

2014 Warmest Year on Record
The New York Times
Last year was the hottest on earth since record-keeping began in 1880, scientists reported, underscoring warnings about the risks of runaway greenhouse gas emissions and undermining claims by climate change contrarians that global warming had somehow stopped.

Groundbreaking Study Confirms: We Must Leave Fossil Fuels In the Ground
Common Dreams
A groundbreaking new study is confirming what green campaigners have long argued: in order to stave off climate disaster, the majority of fossil fuel deposits around the world—including 92 percent of U.S. coal, all Arctic oil and gas, and a majority of Canadian tar sands—must stay in the ground. This new research is first of its kind to identify specific national reserves that must remain untapped.

IEA Provides First Sign That Tide May Be Turning For Oil Prices
Oilprice.com
Last week, energy investors got the first of several reports that should confirm for Wall Street analysts that the physical markets for crude oil are responding to the sharp drop in oil prices. I believe supply/demand will work back to a balance during the second half of this year.

Oil, Saudi Arabia, and the End of OPEC
Elias Hinckley, The Energy Collective
Saudi Arabia’s decision not to cut oil production, despite crashing prices, marks the beginning of an incredibly important change. There are near-term and obvious implications for oil markets and global economies. More important is the acknowledgement, demonstrated by the action of world’s most important oil producer, of the beginning of the end of the most prosperous period in human history – the age of oil.

Carbon Counterattack: How Big Oil Is Responding to the Anti-Carbon Moment 
Michael T. Klare, Tom Dispatch
Around the world, carbon-based fuels are under attack. Increasingly grim economic pressures, growing popular resistance, and the efforts of government regulators have all shocked the energy industry. But instead of retreating, the major oil companies have gone on the offensive, extolling their contributions to human progress and minimizing the potential for renewables to replace fossil fuels in just about any imaginable future.

At least one major oil company will turn its back on fossil fuels, says scientist
The Guardian, UK
The oil price crash coupled with growing concerns about global warming will encourage at least one of the major oil companies to turn its back on fossil fuels in the near future, predicts award-winning scientist and former industry adviser Jeremy Leggett. Now a solar energy entrepreneur and climate campaigner, Leggett points to Total of France as the kind of group that could abandon carbon fuels.

Obama visit: India-US to sign energy deal
Hindustan Times
India and the US are likely to sign an energy deal under which India could commit to generating 15-20% of its energy need from zero emission sources by 2030. The deal that would be signed during President Barack Obama’s visit this month will also have the US agreeing to support India’s efforts through the government’s flagship Make in India programme by investing in urban energy infrastructure and making energy-saving appliances as well as in research. The US has already committed to $1 billion for financing renewable projects in India.

China Buying Up Latin American Oil
Colin Chilcoat, Oilprice.com
China is pledging $250 billion in investment in Latin America over the next decade. The country’s oil-based financing is still an unproven gamble – and lower prices increase the default risk – but it’s shrewd move for what will soon be the world’s largest consumer of oil.

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