CIBC, which has hit thier research on oil just about more right-on than any other research house, put out a very interesting research report towards the end of April, projecting oil at $200/BBL by 2012.
http://research.cibcwm.com/economic_public/download/sapr08.pdf
There are some excellent charts and graphs in there all pointing to ongoing distrurbing supply, demand, and consuption trends. All of which support ongoing and stabile higher prices.
Credit Suisse has recent joined the list of banks that are applying The Carbon Principles to thier consideration of coal-related project finance.
http://www.credit-suisse.com/news/en/media_release.jsp?ns=40826
http://www.carbonprinciples.com/
These are a set of guidelines for lenders to electric generation facilities. It would be prudent for the synfuels industry to begin considering a similar set of standards. Even though we make fuels, not power, we still face the same risks on the permitting and financial front, and have the same moral obligation to be responsible in our project design to ensure mitigation (or even eventual elmination) of lifecycle carbon footprints.
(hat tip to The Matter Network for the original link to the story http://www.matternetwork.com/headlines/-lww.cfm)
http://www.cnbc.com/id/15840232?video=774744570
One of the best discussions of peak oil i have seen to date on CNBC, and the potential reactions to it. Finally a serious talk about it as a real issue with serious geological underpinnings, as opposed to a “hey, look at these crackpots” sort of piece.
Flight Global just did a great piece on alternative aviation fuels:
They also published a directory of power players in the industry. We appear on the first page:
http://www.flightglobal.com/assets/getasset.aspx?ItemID=23432
Looks like our neighbors to the north are stepping out front and leading the way in more sustainable city design.
We would do well to watch and learn.
http://www.matternetwork.com/2008/6/vancouver-best-urban-planners-ever.cfm
Could it be, a stirring of intelligence from the mainstream media on oil?
http://money.cnn.com/2008/06/16/news/economy/oil_supply/index.htm?postversion=2008061613
It looks like they are maybe, possibly, finally starting to figure out that maybe there is more than just “speculators” or a “terror premium” at work here.
Once again, The Independent produces some of the best-informed and most well-thought-out reporting on energy seen in recent memory.
The type of clean plant they describe towards the end of the video is fairly similar to what we are building.
Glad to see Arch and COP making moves for CCS.
A great interview on the Nightly Business Report. Looks like the American environmental community is still up to thier same old sad line. Willfully ignoring the fact that we have the ability to meet the technology challenge of global warming, and instead of encouraging responsible development practices which enable clean fuels production, just misstating facts and providing blanket oposition. ‘Cmon guys(Sierra club, NRDC), the only way to get REAL movement on actually DOING something about climate change is if you work WITH us to help make sure that when this gets done, it gets done right, in a way that reduces greenhouse gasses, and enhances the path to sustainability. We have the technology… We can rebuild the system… make it better, cleaner, greener, more sustainable…
Monday, June 09, 2008 PAUL KANGAS: Like commercial airlines, the U.S. Air Force is also facing soaring fuel costs. While efficiency efforts have helped cut consumption, the Air Force still spent nearly $6 billion on fuel last year, triple the amount spent just three years ago. As Stephanie Dhue reports, soaring fuel prices are driving the Air Force to look for alternatives.
STEPHANIE DHUE, NIGHTLY BUSINESS REPORT CORRESPONDENT: The Air Force is gearing up to make a market for synthetic fuel made from coal. It has already certified the B-52 bomber to fly with the new fuel and over the next three years, plans to have all 6,000 planes in the fleet fly with a 50/50 blend of synthetic and petroleum-based fuels. Bill Anderson heads the Air Force’s fuel program. He says the idea is to develop a domestic industry to supply that fuel.
BILL ANDERSON, ASST. SECRETARY, U.S. AIR FORCE: Rather than the movie the “Field of Dreams,” where you build it and they will come, here in essence, we are there, waiting for the industry to be built to service our demand.
DHUE: The Air Force uses about 2.6 billion gallons of jet fuel each year, nearly 10 percent of what’s sold in the United States.
ANDERSON: A 10 percent share of the market is a pretty sizable portion and we believe that is enough to initiate a market at a minimum.
DHUE: The Air Force is also working with commercial airlines and engine makers to develop a coal-to-liquids market. Rising crude oil prices are making similar projects more attractive. Bob Kelly is with DKRW, a firm developing a coal-to-liquids manufacturing plant. He says there is a market for synthetic fuel for cars. One challenge is getting financing.
BOB KELLY, CHAIRMAN, DKRW ADVANCED FUELS: You’re talking about spending $2 to $3 billion to put these facilities up, so the banks need to get used to financing those types of facilities and those sizes of facilities. It’s going to be a new thing for them.
DHUE: Another challenge, environmental issues. Environmentalists call synthetic fuels a step backward. The Sierra Club’s Alice McKeown says coal-to-liquid is a disaster.
ALICE MCKEOWN, COAL ANALYST, SIERRA CLUB: From the time the coal is ripped out of our mountains to the time it’s burned at the tailpipe, the overall global warming emissions are double those of traditional petroleum- based fossil fuels. At a time when we need to be addressing global warming, that’s taking us in the wrong direction.
DHUE: The Air Force says it’s working to adopt a synthetic fuel that is greener than current jet fuel.
ANDERSON: We believe that by the time this industry is viable in this country and that will be, at the earliest 2012, that technologies are available even today that will allow us to reduce the environmental footprint of these synthetic fuels below currently available petroleum- based jet fuel.
DHUE: The Air Force sees the synthetic-coal-to liquid as its transition fuel until the next generation of bio-fuel is ready to go. Stephanie Dhue, NIGHTLY BUSINESS REPORT, Langley Air Force Base, Virginia.
