Jason Barton

Professional Information and Energy News

Archive for the ‘Domestic’ tag

U.S. Expects Steady Climb in Energy Prices

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Good news and bad news, though the EIA has been wrong before. I’m still listening to friends and colleagues predicting a double-dip recession, so am not completely convinced that the domestic economy is beginning an unabated rise out of its current lows. I do have a bit more confidence in the global economy, though, so these growth projections make sense. Of course, I’ve been wrong before, too.

It’s a fascinating time to be alive.

JANUARY 13, 2010

By BRIAN BASKIN

NEW YORK—Energy prices are undergoing a long, slow march higher as major economies shake off the effects of last year’s recession, the U.S. Energy Information Administration said Tuesday in its monthly outlook.

The agency expects global gross-domestic-product growth to increase from 2.5% in 2010 to 3.7% next year, enough to prevent oil and natural-gas prices from heading back toward the multiyear lows hit in 2009. At the same time, the gradual nature of the recovery and ample inventories built up during the downturn should prevent a repeat of the spike in energy prices during 2008.

February crude futures settled down 2.1% at $80.79 a barrel on the New York Mercantile Exchange, after hitting a 15-month high above $83 a barrel last week. February gas on Tuesday was at $5.569 a million British thermal units.

“What they’re projecting this far forward is really more or less a return to normalcy,” said Tim Evans, an analyst with Citi Futures Perspective in New York.

Read the entire article here.

Written by Jason

January 13th, 2010 at 9:42 am

GE Chief Hopes Copenhagen Leads to US Clean Energy

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Here’s another great example of leaders in industry not being afraid of an economy based on cleaner energy, but embracing it.

GE chief Jeffery Immelt hopes Copenhagen climate conference leads to US clean energy policy

GREENVILLE, S.C. December 8, 2009 (AP)

General Electric CEO Jeffrey Immelt said Tuesday he hopes the Copenhagen conference on climate change leads the United States to develop a green energy policy to grow the economy.

“What’s most important for the U.S. is that we go from Copenhagen, go into 2010, and have the courage to act on clean energy for the good of the country from the standpoint of creating jobs,” Immelt told a conference on renewable energy.

More than 100 national leaders from around the world are meeting in Copenhagen, Denmark, to try to craft an agreement to reduce greenhouse gases and stem climate change.

Immelt told a meeting on renewable energy at Clemson University that within five years, 10 million new green jobs will be created worldwide.

Read the entire article here.