G7 leaders condemned Russia's use of energy as a weapon, and reaffirmed European efforts to secure and diversify their own supplies. Russia-Europe energy partnerships won't fade anytime soon, but the Ukraine crisis is pushing Western Europe to look inward for new energy supply while Southeast Europe charts its own course.
A surge in US oil and natural gas production has lifted hopes about North American energy security, but that growth will plateau and will be difficult to replicate elsewhere, says Maria van der Hoeven, chief executive of the International Energy Agency, in an interview with the Monitor.
The hydraulic fracturing and horizontal drilling used to extract oil from shale deposits is supposed to glut the world with oil and drive down the price. The record so far is not compelling, Cobb writes, and talk of an American energy renaissance is essentially baseless.
The US average gas price is $3.22 – and appears headed lower. The bad weather this winter was a factor, but 'fracking' is also driving energy prices downward.
Unstable Iraq and deep-water Brazil are projected to make up more than half of the global increase in oil production over the next two decades, according to the International Energy Agency. It's not impossible, Cunningham writes, but it’s quite a risky bet.
The US will lead the world in oil production for two decades starting in 2015, according to a new report. After that, OPEC will reassert its dominance in oil production.
The carbon bubble idea is an interesting hypothesis, Styles writes, but there are some flaws in the arguments Al Gore makes in its support. Carbon bubble or no, there's nothing wrong with investors wanting to track their carbon exposure, consider shadow carbon prices, or ensure they are properly diversified.
North American oil markets are pulling away from foreign market because of increased domestic production. Still, OPEC producers should still hold a key stake in a changing oil game, according to the International Energy Agency.
A joint US-Israel missile test Tuesday boosted oil prices and renewed worries that a spread of conflict in the Middle East could block oil supplies. If oil prices continue to rise, would the US tap emergency oil supplies to avoid damaging a fragile economic recovery?