Renewable Energy Update – October 2018

Focus Governor Brown signs key energy storage bill SOLAR INDUSTRY MAGAZINE – Oct 2 Governor Jerry Brown has signed into law S.B.700, a bill that could result in nearly 3 gigawatts of behind-the-meter energy storage systems at schools, farms, homes, nonprofits, and businesses in California by 2026, according to the California Solar and Storage Association (CALSSA). Authored by State Senator Scott Wiener, D-San Francisco, the legislation reauthorizes the Self-Generation Incentive Program for…

Natural Gas Storage Report Injection Season Week 28 (Week Ending October 12, 2018)

Storage inventories finally crossed over the 3 Tcf mark this morning as the current week’s injection of 81 Bcf fell short of the market expectation of 83 Bcf. Regardless of this build outpacing last year’s 51 Bcf injection and the five-year average of 79 Bcf for the same week, the working gas deficits continue to maintain the gains seen on the November contract month and NYMEX winter strip over the…

Currents: Energy Industry Insights October 2018

China’s Provinces are Secretly Building Coal Plants in Defiance of the National Government – “CoalSwarm, a global network of researchers tracking fossil-fuel infrastructure, analyzed satellite imagery as of July 2018, and discovered that the construction of around half of those 150 plants is still proceeding, despite the government orders.” Why this is important: While China’s central planners are trying to put the brakes on coal power plant construction, it appears…

Natural Gas Storage Report Injection Season Week 27 (Week Ending October 5, 2018)

As we enter the home stretch of injection season, this week’s build of 90 Bcf managed to surprise no one as it fell directly in line with multiple market expectations that ranged from 90 to 92 Bcf while additionally settling in a similar range against last year’s injection (87 Bcf) and the five-year average (92 Bcf). Despite the uneventful injection, NYMEX futures are holding tight to the recent gains that…

Department Of Energy Announces $30 Million For Transformational Carbon Capture Technologies

  WASHINGTON, D.C. – The U.S. Department of Energy (DOE) is announcing up to $30 million in federal funding for cost-shared research and development (R&D) under the second closing of the Office of Fossil Energy’s (FE’s) Novel and Enabling Carbon Capture Transformational Technologies funding opportunity announcement. Selected projects will support the development of solvent, sorbent, and membrane technologies to address scientific challenges and knowledge gaps associated with reducing the cost of carbon capture,…

Natural Gas Storage Report Injection Season Week 26 (Week Ending September 28, 2018)

The deficit in working storage inventories received some much needed relief as this week’s injection of 98 Bcf exceeded the market expectations that ranged from 88 Bcf to 91 Bcf. Historically, this week’s injection managed to beat both last year’s build and the five-year average, which were reported at 44 Bcf and 84 Bcf respectively. After a nearly 25 cent jump over the last three trading days of the November…

The Right To A Healthy And Safe Environment

Health, safety, and security are key concerns for all stakeholders operating in the energy and natural resources sector, and these concerns are increasingly leading to investor and boardroom decision-making against exploration, extraction, and beneficiation in certain jurisdictions. According to estimates published by the International Labour Organisation, a worker dies from a work-related accident or disease every 15 seconds, and over 300 million workers sustain non-fatal occupational injuries each year[1]. A…

Natural Gas Storage Report Injection Season Week 25 (Week Ending September 21, 2018)

Driven by a double digit withdrawal of 11 Bcf in the South Central region, this week’s injection of 46 Bcf was thin yet again. Market expectations ranged from 52 Bcf to 61 Bcf, so this bullish build has managed to increase the storage inventories deficit to over 600 Bcf against the five-year average yet again. Even with the anticipated impact of Hurricane Florence lowering the demand for gas-fired electricity generators,…

Energy Newsletter – September 2018

A Texas Federal Judge Turns Up the Heat on Oil Companies Facing Climate Change-Related Securities Class Actions – On August 14, 2018, the United States District Court for the Northern District of Texas issued a surprisingly shareholder-friendly opinion denying a motion to dismiss filed by Exxon Mobil Corp. See Ramirez v. Exxon Mobil Corp., et al., Civ. No. 3:16-CV-3111-K. The shareholders alleged that Exxon and its management team (including Rex…

Natural Gas Storage Report Injection Season Week 24 (Week Ending September 14, 2018)

Despite the run-up to over $2.90/MMBtu on the current contract month, the market isn’t expected to see much movement today as this week’s injection of 86 Bcf came in mostly in line, if not slightly bearish, with the market expectation of 84 Bcf. Today’s build came up noticeably short of last year’s injection of 96 Bcf as well, yet managed to surpass the five-year average of 76 Bcf at the…