Barrons (January 30)
“Fracking is creating a new source of cheap energy. By 2020, the U.S. is expected to become the world’s largest energy producer. And the falling cost of natural gas (now about a third of Europe’s and less than a quarter of Japan’s) is attracting corporate attention. “After decades of outsourcing… companies like Apple, Caterpillar, Ford Motor, General Electric, and Whirlpool are making more of their goods on American soil again. It isn’t just U.S. companies that are drawn to our cheap energy, weak dollar, and stagnant wages. Samsung Electronics plans a $4 billion semiconductor plant in Texas, Airbus SAS is building a factory in Alabama, and Toyota wants to export minivans made in Indiana to Asia.”
Tags: Airbus, Apple, Caterpillar, Energy, Ford Motor, Fracking, General electric, Samsung, Toyota, U.S., Whirlpool
Washington Post (March 8)
Oil again crossed the $100 per barrel threshold. The price hike isn’t entirely bad. It may “spur conservation and stimulate domestic oil production, thus rendering the country less vulnerable to future oil shocks.” The 1973 oil crisis certainly did. The U.S. economy now “consumes less than half as much petroleum and natural gas per dollar of economic output as it did.” In fact, the Post would welcome higher gasoline taxes to encourage “sensible long-term conservation measures.”
Tags: Conservation, Energy, Oil, Tax
Guardian (July 26)
“British, American and Norwegian engineers are in a race to design and build the holy grail of wind turbines.” They are competing to build massive 10MW offshore turbines “that could transform the global energy market.” Currently the largest turbines are in the 3MW range, but within 3 years the Guardian believes three different 10MW designs will be operational.
Tags: Energy, Norway, U.S., UK, Wind turbines
The Financial Times (July 19)
What a difference a decade makes! In 2009, China consumed 2,252 million tons of oil equivalent, approximately 4% more than the U.S. In 2000, the U.S. used twice as much energy as China! China has also replaced the U.S. as Saudi Arabia’s biggest oil customer and Japan as the world’s largest importer of coal.
What a difference a decade makes! China passed the U.S., consuming 2,252 million tons of oil equivalent in 2009, approximately 4% more than the U.S. In 2000, the U.S. used twice as much energy as China! China has also become the world’s largest importer of coal and Saudi Arabia’s biggest market for oil exports.
