"High energy prices, climate change and energy security are converging as the new engine driving the development of clean energy," Daniel Yergin, chairman of Cambridge Energy Research Associates (CERA) and executive vice president, IHS Inc., said today in Washington, D.C.
"There is a major shift in public opinion towards clean energy, which is being bolstered by the growing conviction that...
"The new fundamentals" - global financial dynamics and new cost structures - are driving the momentum that pushed oil prices to record highs around $110 a barrel, well ahead of what had been the previous inflation-adjusted record high of $103.59 set in April 1980, according to Cambridge Energy Research Associates (CERA), an IHS company.
"Oil has become the 'new gold' - a financial asset in...
Perhaps nowhere is the great boom in clean energy and renewables as visible as in biofuels. Ethanol and biodiesel refineries have popped up like mushrooms across the farm belt of the United States and the rapeseed fields of Europe.
Flexible fuel vehicles are flying out of showrooms and into the cities and motorways of Brazil on the power of sugarcane. And in labs across the world, scientists...
How should the international community manage the risks of global climate change? Diplomats from 187 nations faced this question in December at the United Nations' climate conference in Bali, Indonesia.
Their answer was a two-year plan for negotiating a new global climate policy that would start in 2013 - the year the Kyoto Protocol ends.
The "Bali Road Map" is intended to lead to an...
The missing link for understanding the future of world oil supply - a solidly based view of oil field decline rates - has now been filled by a new field-by-field analysis of production data by Cambridge Energy Research Associates (CERA) and IHS Inc.
The aggregate global decline rate is 4.5 percent, rather than the eight percent cited in many studies, based upon CERA's analysis of the...
Fossil fuels provide most of the world's energy and are the foundation of the past two centuries of economic growth. The issue of climate change poses the first serious challenge to fossil fuels' primacy.
But a great divide has existed between the mainstream technologies that make up the modern energy industry and the newer "clean" technologies that offer an alternative, low-carbon pathway...
Ten dollars a barrel. That was the price oil fell to in 1998, just 10 years ago. In 2008, oil has been nine times higher, around $90 a barrel, and briefly skirted with $100 a barrel just a few weeks ago. What was unimaginable 10 years ago has happened. How has it happened, and what does it tell us about the future?
Financial crisis swept Asia and other parts of the world in 1998, bringing an...
When will global oil supply stall and start to decline? An important part of the answer to this frequently asked question comes down to oil field decline rates - that is, the annual rate at which production from existing fields goes down. The decline rate is a key link in the chain of factors needed to understand the future of the world oil supply.
If we want a picture of likely oil...
Crude oil prices have risen to a historic $100 per barrel (West Texas Intermediate [WTI]), the culmination of a $25 price increase over several months, to reach a record that once seemed untouchable. Until now, the world has never experienced a triple-digit oil price. The all-time inflation-adjusted high was in April 1980, when, CERA calculates, crude oil hit $99.04 per barrel in terms of 2007...
The energy challenge certainly ranks at the top of the world's agenda. What makes it particularly difficult to deal with is that it is created by two forces.
Though not usually put in these terms, one is globalization-and, in particular-the success of globalization. High growth rates, the emergence of large middle classes in countries like China and India, the continuing integration of the...
