Michele Kearney's Nuclear Wire

Major Energy and Environmental News and Commentary affecting the Nuclear Industry.

Friday, July 15, 2011

Financial Times - Energy Source 7/15

Energy Source

Conoco’s Mulva reverses rush to grow
Jim Mulva, chief executive of ConocoPhillips, has been in a hurry to establish his legacy. In the beginning, it was going to be as the head of one of the world's biggest international oil and gas companies. And he got there, boosting Conoco into 5th place, in terms of production. But then the economic downturn hit, and the weaknesses in his grow-through-acquisition strategy were exposed. Conoco was forced to slash capital spending, lay off staff and sell billions of dollars in assets.
Energy headlines: UK reforms create two-tier winners
UK energy reform to generate two-tier victors - FT BP redevelops two N Sea oilfields - FT IEA to decide on further oil stock drawdown - FT Electricity market reforms could force companies to leave UK - Telegraph
Unconventional moves depend on safety record
Several years ago, analysts covering the oil industry were raising alarm bells about how the majors would be making money in the decades to come. With conventional oilfields maturing and no sign of the shale gas revolution at that point, there was pressure from shareholders for the majors to get into renewables. The majors responded by delving into projects to extract biofuels from chicken fat and soybeans. But that phase is over.
FT podcast: Energy Weekly
UK electricity reform, Australian carbon pricing, Macarthur Coal In this week’s podcast: We talk to former speaker of the California state assembly and founder of G24 Innovations, Bob Hertzberg, about the UK’s white paper on reforming the electricity market; we look at Australian prime minister, Julia Gillard’s announcement on carbon pricing; and, we discuss the possible takeover of mining company Macarthur Coal by US-based Peabody Energy. Presented by David Blair with Pilita Clark and William MacNamara. Produced by LJ Filotrani
Smelly feet deployed in fight against malaria
A device that uses the odour of smelly feet to trap mosquitoes is to get a boost in funding in the fight against malaria. Scientists have known for some time that human odour attracts mosquitoes, but researchers from Tanzania’s Ifakara Health Institute have found that the smell of human feet can attract four times as many mosquitoes as ordinary human scent. The anti-malarial foot odour trap will receive a grant of $775,000, co-funded by the Bill and Melinda Gates Foundation and the non-for-profit organisation, Grand Challenges Canada. The device works by using a synthetic odour of human feet as bait …
Markets face risk of carbon bubble
After the dot.com crash and the credit crunch, investors are being warned of the potential consequences of a ‘carbon bubble’. Stock markets are sitting on vast reserves of fossil fuels that cannot be burnt if the world is to stick to climate change targets, according to research issued by the Carbon Tracker initiative. The report claims that only 20 per cent of listed carbon reserves can be used if the target of a 2 degrees Celsius rise in global temperatures is to be achieved by 2050. The 2 degree limit is based on the growing scientific consensus on limiting the …
Energy headlines: why the UK needs electricity market reform
Why Britain needs energy reform - Telegraph Bold target set for offshore wind but sceptics see hidden nuclear subsidy - Guardian Chesapeake to put $1bn toward gas use - FT Nuclear Power Supply Declines in Japan - WSJ

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