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Category Archives: Energy

Currency depreciation against the dollar affects oil importers and exporters differently

EIA – “Widely traded futures contracts for North Sea Brent crude oil in global financial markets are typically priced in U.S. dollars (USD). The appreciation, or increase in value, of USD against most other currencies since last summer can either mitigate or exacerbate the effects of the recent sharp decline in USD-denominated crude oil prices, depending on whether a particular country is a net importer or a net exporter of crude oil. For example, the price of Brent crude since July 1, 2014, declined by 56% through January 21 in USD. However, given the depreciation of the Indian rupee and Turkish lira against the U.S. dollar over the same period, Brent crude prices in terms of those currencies fell by only 55% and 52%, respectively. Turkish and Indian consumers are therefore experiencing a lesser decline in the cost of imported oil products than consumers in countries that use USD or currencies with lesser or no depreciation against the USD. In contrast, producers in countries that are net oil exporters, like Canada and Norway, find that the percentage decline in the price they receive from oil sales is lower than the decline in USD terms when they convert their oil sales revenue from USD to Canadian dollars or Norwegian kroner. The price of Brent crude in these currencies has fallen only 49% and 46%, respectively, since July. Because some producer expenses, like wages and taxes, are primarily denominated in the home currency of the country where production occurs, the depreciation of the currencies of crude exporters against the USD is partially mitigating the adverse effects on producers of the recent fall in crude prices.”

NAP’s Guide to Science Issues and the State of the Union

“The 2015 State of the Union address focused on topics such as 21st century skills, climate change, and cybersecurity. The National Academies Press provides resources directly related to these national issues. A selection has been highlighted below. We’ve posted the full transcript of the President’s speech, annotated with lists of our related materials. Read our completeContinue Reading

The Financial Risk from Global Warming

Covington, Howard and Thamotheram, Raj, The Case for Forceful Stewardship (Part 1): The Financial Risk from Global Warming (January 19, 2015). Available for download at SSRN: http://ssrn.com/abstract=2551478 “If it reaches 4° or more, global warming may cause severe economic damage with the consequence that a significant portion of the value of a diversified equity investmentContinue Reading

Administration Annnounces Actions to Cut Methane Emissions

FACT SHEET: Administration Takes Steps Forward on Climate Action Plan by Announcing Actions to Cut Methane Emissions – “The Obama Administration is committed to taking responsible steps to address climate change and help ensure a cleaner, more stable environment for future generations. As part of that effort, today, the Administration is announcing a new goalContinue Reading

EIA Kazakhstan Country Analysis Brief

“Kazakhstan, an oil producer since 1911, has the second-largest oil reserves as well as the second-largest oil production among the former Soviet republics after Russia. Kazakhstan is a major oil producer. The country’s estimated total petroleum and other liquids production was 1.70 million barrels per day (bbl/d) in 2014. The key to its continued growth inContinue Reading

New GAO Reports – Environmental Litigation, Iranian Commercial Activities Update

Environmental Litigation: Impact of Deadline Suits on EPA’s Rulemaking Is Limited, GAO-15-34: Published: Dec 15, 2014. Publicly Released: Jan 14, 2015. Iranian Commercial Activities Update: Foreign Firms Reported to Have Engaged in Iran’s Energy or Communications Sectors, GAO-15-258R: Published: Jan 13, 2015. Publicly Released: Jan 13, 2015.

EIA – Drilling Productivity Report

“The Drilling Productivity Report uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil and natural gas wells to provide estimated changes in oil and natural gas production for seven key regions. EIA’s approach does not distinguish between oil-directedContinue Reading

OECD Public Data is in Beta

Find, compare and share the latest OECD data:charts, maps, tables and related publications’. Start with one or two short search terms, then refine your results by adding more words. Catalogue of OECD databases or Browse by Topic or Country Agriculture Agricultural land, Agricultural output, Agricultural policy, Fisheries DevelopmentDevelopment resource flows, Official development assistance (ODA) Economy Corporate, Domestic product, Foreign directContinue Reading

Human-Induced Earthquakes from Deep-Well Injection: A Brief Overview

CRS – Human-Induced Earthquakes from Deep-Well Injection: A Brief Overview. Peter Folger, Specialist in Energy and Natural Resources Policy; Mary Tiemann; Specialist in Environmental Policy. December 22, 2014. “The development of unconventional oil and natural gas resources using horizontal drilling and hydraulic fracturing (fracking) has created new demand for wastewater disposal wells that inject waste fluids into deep geologic strata. An increasing concernContinue Reading

Natural Hazards of 2014

“Going into the New Year, the USGS reflects on the natural hazards of 2014 as a reminder of the dangers we face and the need for preparedness to save lives and property. In 2014, several damaging natural earthquakes occurred around the world. A devastating landslide occurred in Washington State, while heavy rains and landslides also hitContinue Reading

Human-Induced Earthquakes from Deep-Well Injection: A Brief Overview

CRS – Human-Induced Earthquakes from Deep-Well Injection: A Brief Overview. Peter Folger, Specialist in Energy and Natural Resources Policy; Mary Tiemann, Specialist in Environmental Policy. December 22, 2014. “The development of unconventional oil and natural gas resources using horizontal drilling and hydraulic fracturing (fracking) has created new demand for wastewater disposal wells that inject waste fluids into deep geologic strata. An increasingContinue Reading

United States Economic Forecast – Deloitte

United States Economic Forecast Volume 2 Issue 4 (December 2014) – “Consider these two facts: 1. GDP growth has been above 3.5 percent for four of the last five quarters. 2. Job growth has been over 200,000 for the past nine months. SURPRISED? Perceptions often run behind reality. As recently as this summer, three quarters of poll respondentsContinue Reading