Opec strikes a deal, co2 emissions rise but shell targets cuts, historic us oil exports and the positives of electric scooters peace and freedom electricity magnetism


After 48 hours of sometimes fractious negotiations, the ministers from Opec and their non-Opec allies agreed to cut production by 1.2m barrels a day, effective from January, for six months. la gastritis In a sign of the careful handling needed to deliver the deal, the precise breakdown of the 1.2m barrels a day between countries was not revealed, although it was specified in the official communiqué that the cartel’s members would cut by 800,000 b/d and the non-Opec countries by 400,000 b/d.

The oil market reflected relief that there was a deal, but the response was muted: Brent crude and the US benchmark WTI first jumped as news of the production cut emerged, but then fell back and ended up rising only about 2 per cent and 1 per cent respectively for the day. Saudi Arabia was said to be a prime mover in pushing for a production cut, in spite of a series of tweets and statements from Donald Trump calling for it to keep its output high. The US president made a last-ditch appeal just before the meetings began, tweeting on Wednesday: “Hopefully Opec will be keeping oil flows as is.”

Past presidents have opposed such legislation, but if Mr Trump genuinely wanted to get tough with Saudi Arabia he might get a chance to sign the bill into law. For Opec member states with US assets that could be subject to penalties, particularly Saudi Arabia and Venezuela, that prospect is a real concern. gas blower will not start The underlying issue for Saudi Arabia is broader, however: it is the shift in the economic relationship between the kingdom and the US caused by the American shale revolution and oil production boom.

Ryan Zinke, the US secretary of the interior, said the estimates showed that “American energy dominance is within our grasp as a nation”. US companies’ interest in developing these resources was highlighted by Chevron, the country’s second-largest oil group, which on Thursday set out its plans for $20bn of capital spending next year, including $3.6bn in the Permian Basin, up from $3.3bn for this year.

The biggest news of the week was a report from more than 70 scientists estimating that global carbon-dioxide emissions would rise at least as fast this year as they did last year, pushing the atmospheric concentration to a new record high, despite the pledge by the 195 countries that signed the Paris climate agreement in 2015 to limit global warming to well below 2C. electricity and circuits class 6 pdf Glen Peters, research director at the Cicero Centre for International Climate Research in Oslo, described the news as “a step backwards”.

Global oil and gas consumption have continued to grow steadily, while coal consumption, which hit a peak in 2015, has been rebounding. China is expected to account for almost half of the growth in emissions in 2018, with its coal consumption rising 4.5 per cent this year and its natural gas consumption surging 18 per cent. gas hydrates are used Mr Peters tied the increase directly to the strains on the Chinese economy.

“The government keeps propping up the economy by construction, and construction needs more coal and cement,” he said. Katowice is an old coal-mining town, in the heart of the rich coal reserves of Silesia, and the conference features many reminders of the importance of the mineral to the region and to Poland. gas engine tom There is a mine just three miles outside the conference centre and inside the town’s stand has a display of coal, including coal jewellery.

Campaigners against environmental policies that raise energy costs won a resounding success in France this week, when President Emmanuel Macron’s government agreed to scrap the increases in fuel taxes scheduled for next year, after the “ gilets jaunes” (yellow vests) protests of the past month, which led to the worst riots in Paris for 50 years last weekend.

Yet while governments are under pressure to pull back from climate policies, many businesses are still pushing ahead. Royal Dutch Shell this week announced that after pressure from its investors, it would be setting targets for cutting the greenhouse gas emissions from its operations and its products, and linking its executives’ pay to meeting those targets. electricity video ks1 It is the first company in the industry to link pay to emissions reductions.

The main reason for that has been the shift away from coal and towards gas and renewables for power generation, a trend that has continued despite the efforts of the Trump administration to stop it. The Energy Information Administration predicted this week that US coal consumption would this year be the lowest for 39 years, after a surge in the closures of coal-fired plants.

US emissions are still thought to have risen this year, however, because of an increase in oil and gas consumption. The Trump administration, meanwhile, has not given up hope of at least slowing the decline of coal. electricity and circuits class 6 ppt The Environmental Protection Agency this week proposed revisions to emissions regulations that would remove the requirement for new coal-fired power plants to capture some of the carbon dioxide they produce.

The American Coalition for Clean Coal Electricity, an industry group, welcomed the plan, saying that the new rule could lead to new coal-fired plants being built to replace at least some of the ones that are closing. The fact that existing coal-plants are finding it difficult to compete against gas plants and renewables suggests that the economics of new coal will be challenging, however, even if the relaxation of regulations is implemented.

Meanwhile, British Columbia has launched a plan to cut greenhouse gas emissions, raising questions about how that strategy fits with the Canadian province’s plan to become an exporter of LNG. And finally: the electric scooter boom of 2018 has raised concerns about safety and led to bans on the sharing companies such as Lime in several cities, including this week in Madrid.