New oil projects are being scrapped in Norway amid falling production and low oil prices. Despite efforts to diversify, Norway’s economy is overwhelmingly dependent on oil, which accounts for more than half of the country’s exports.
Moscow cancels the South Stream pipeline; More global actions put downward pressure on oil prices; Climate talks in Lima come amid progress on emissions. Catch up on global energy with the Monitor's Recharge.
Like many big utilities, NextEra is looking at strategic mergers that offer a business advantage. Its $4.3 billion deal to buy Hawaiian Electric will give it important experience dealing with distributed renewable energy.
A rosy outlook for clean energy now takes on an air of uncertainty as renewables look to avoid becoming a casualty of an era of low oil prices.
Energy could provide fertile ground for bipartisan compromise in the next Congress, two former Senate majority leaders and the head of a think tank said at a Monitor breakfast Thursday. That could mean legislative action on anything from Keystone XL, to energy efficiency, to oil exports.
Technology is making it possible for the energy industry to produce more natural gas and do it in a cleaner and more efficient way. It’s why the United States leads the world in carbon and other emissions reductions.
Plummeting oil prices seem like good news for US consumers, who are paying less at the pump than they have in four years. But cheap crude has its drawbacks – from undermining domestic oil production, to discouraging investment in new energy sources.
Oil prices have plunged in recent months, which is bad news for energy firms who have relied heavily on debt to finance their operations. Amid low oil prices, could a shakeout of the oil industry spark a broader financial crisis?
The cancellation of South Stream, a proposed gas pipeline to Europe from Russia, comes amid fraying ties between two critical centers of energy supply and demand. It's the clearest signal yet that Russia's grip on European energy markets is slipping.
Falling oil prices benefit China because the country does not make money on oil. Instead, it buys it, and is the world's largest net importer of oil. The lower oil prices fall, the more affordable it becomes for China to develop its economy.
Germany is weighing whether or not to undertake another monumental energy transition – shutting down its coal-fired power plants in order to slash carbon emissions. Europe's largest economy is already charting an impressive path forward with renewable energy.
If oil prices continue to slide, OPEC will almost certainly achieve its goal of preventing significant investment in new US oil production. But low oil prices will also put financial pressure on some of the cartel's most vulnerable members.
By letting oil prices slide and maintaining market share, OPEC is playing a risky game of chicken that will take years to play out.