Debate on the Keystone XL pipeline has resurfaced on Capitol Hill in the last week. But with oil prices falling and alternative routes for oil to get to market, the Keystone XL pipeline is less important to global oil flows than it was six years ago.
While no-one can accurately predict the weather, judging from the market as it currently stands, a repeat of 2014's polar vortex-effect is unlikely. Winter is indeed coming, Topf writes, but it seems natural gas supplies are ready for it.
Keystone XL, a controversial oil pipeline, needs one more vote in the Senate to send a bill to President Obama approving the proposed project. Keystone XL has been the subject of a fierce struggle between environmentalists and energy advocates ever since Calgary-based TransCanada proposed it in 2008.
Kurdistan and Iraq's central government have inked a major but temporary deal over oil exports.
Halliburton and Baker Hughes join forces amid plummeting oil prices; Debate over Keystone XL resurfaces in Congress; The US and China reach a groundbreaking climate deal. Catch up on the latest in global energy with Recharge.
US President Obama and Chinese President Xi Jinping announced commitments this week aimed at stemming climate-warming carbon emissions. But observers wonder if those goals are realistic, and if they're ambitious enough to make a difference.
Oil prices may be low now, but don't bank on cheap prices forever. The International Energy Agency's latest report indicates that demand will rebound significantly, and the supply side will have difficulty keeping up.
The new natural gas deal between China and Russia is lopsided in China's favor. Western sanctions, plunging oil prices, and a plummeting currency all put Russia at a bargaining disadvantage vis-à-vis China.
Under the deal signed Nov. 12, the US would cut emissions twice as fast as President Obama's earlier target. China, for the first time, set an emissions target, saying they would peak by about 2030, if not earlier.
Watch out, US shale boom: Plummeting oil prices are challenging the economics of expensive shale drilling. Low oil prices make shale drilling less profitable, and some oil companies are paring back spending and drilling plans as a result.
More than a hundred birds died in Alberta oil sands waste ponds last week, raising questions about whether oil companies in Canada are doing enough to protect wildlife.
Republicans won the Senate in last week's midterm elections, setting the stage for pro-oil and gas legislation and a fight over Obama's clean power plan. The International Panel on Climate Change released a report describing "severe, widespread, and irreversible impacts" of climate change. Tumbling oil prices threaten Saudi Arabia's profits and the US's shale boom.
Republicans captured the Senate in Tuesday's elections, setting the stage for the GOP to push major energy issues – including approval of the Keystone XL pipeline. And with support from moderate Senate Democrats, Keystone likely has the support to make it through Congress.
The goal of curbing global greenhouse gas emissions can sometimes appear at odds with efforts to expand electricity access to the 1.3 billion around the world without it. But it is feasible to make progress on both fronts, write Goolman and Nicholson, so long as policymakers aim high.