How Cutting Taxes Makes Life Worse for the Rich
Tax cuts that give rich people more money aren’t good for anyone, including the rich. Believing it will help them buy special things is a cognitive error.
Decommissioning nuclear reactors is a long-term and costly process
(Fri, 17 Nov 2017) Since 2013, six commercial nuclear reactors in the United States have shut down, and an additional eight reactors have announced plans to retire by 2025. The retirement process for nuclear power plants involves disposing of nuclear waste and decontaminating equipment and facilities to reduce residual radioactivity, making it much more expensive and time consuming than retiring other power plants.
In the Best of Times, the Worst of Rides
New York is booming with jobs and new residents, yet the number of people taking the subway has fallen, as a system burdened by debt and bad management fails.
Growth in global energy-related carbon dioxide emissions expected to slow
(Thu, 16 Nov 2017) EIA projects that growth in global carbon dioxide (CO2) emissions from energy-related sources will slow despite increasing energy consumption. EIAâs <em>International Energy Outlook 2017</em> (IEO2017) Reference case projects that energy-related CO2 emissions will grow 0.6% per year from 2015 to 2040, a slower rate of growth than the 1.8% per year experienced from 1990 to 2015.
EIA webinar: Forecasting U.S. crude oil production
(Thu, 16 Nov 2017) EIA hosted a webinar discussing trends in U.S. crude oil production during 2017 and the implications for 2018 and 2019. Presenters included: Artem Abramov (Rystad Energy), Phillip Dunning (Drillinginfo), Harold Hamm (Continental Resources), and John Staub (EIA).
Transportation constraints and export costs widen the Brent-WTI crude oil price spread
(Wed, 15 Nov 2017) In its November <em>Short-Term Energy Outlook</em> (STEO), EIA forecasts the price difference between West Texas Intermediate (WTI) crude oil priced at Cushing, Oklahoma, and Brent, the global crude oil price benchmark, to remain at $6 per barrel (b) through the first quarter of 2018 before narrowing to $4/b during the second half of 2018.
The iron ore contango: Why now?
The iron ore forward curve has made history in November by recording the longest period of contango* in its brief existence.
Russia exports most of its crude oil production, mainly to Europe
(Tue, 14 Nov 2017) Russia exported more than 5.2 million barrels per day (b/d) of crude oil and condensate and more than 2.4 million b/d of petroleum products in 2016, mostly to countries in Europe. Exports of crude oil and petroleum products represented nearly 70% of total Russian petroleum liquids production in 2016.
Cartel power: China and the Russian-Saudi axis – Fuel for Thought
Ever closer relations between Saudi Arabia and Russia, the world’s two largest oil exporters, look like a nightmare for China, the world’s largest oil importer. However, as the originator of demand in a world where peak oil consumption hovers on the horizon, it is Beijing that ultimately holds the whip hand.
CO2 emissions from coal fell by record amount in 2015, led by Texas and Midwest
(Mon, 13 Nov 2017) Carbon dioxide (CO2) emissions associated with coal consumption in the United States fell by a record 231 million metric tons in 2015. More than 60% of the annual decrease occurred in 10 states, led by Texas, Indiana, Ohio, Illinois, and Pennsylvania, according to EIAâs state-level carbon dioxide emissions data.