Exxon Mobil is in Abu Dhabi this week at the World Future Energy Summit, preaching its ” in a green world, carbon is king” gospel.
The Arlington, Texas company — and its competitors — have long argued that a green, carbon-free world is an elusive pipe dream. Energy demand from key developing nations like China and India, they say, is too big to rely on carbon-free fuels alone. Read More »
Today Exxon Mobil announced this year’s largest energy deal with its acquisition of XTO Energy, a domestic developer of natural gas, in an all-stock deal valued at $31 billion.
Wit the acquisition Exxon bolsters its natural gas reserves and it also confirms the company’s belief that fossil fuels are set to dominate over the long-term.
Exxon (CEO Rex Tillerson is #5 in our November Top Ten Players in Green Energy ranking) and its competitors have invested in clean energy. However, they’ve also maintained that a carbon-free world is not likely. Read More »
Will carbon capture and storage ever work?
Fat chance, according to Exxon Mobil’s Energy Outlook, which noted that its high cost and the need for a regulatory framework “presents significant challenges… beyong government-subsidized projects” in the next two decades. Pretty sour.
Actually, it works right now, Mike Morris of American Electric Power, Co. (AEP), the country’s biggest carbon dioxide emitter, tells the The Wall Street Journal today. Carbon capture and storage (CCS) will allow the company to eliminate emissions from its coal-fired plants by 2025.
What gives? Read More »
Exxon Mobil’s “Energy Outlook” is out today. Better read it quick, because all of the projections could be wrong by the end of the Copenhagen climate summit. The press release is here.
The company estimates that 40 percent of the world’s electricity will be generated by nuclear and renewable fuels by 2030, a figure that seems distressingly low.
The big winners when it comes to electricity generation, according to Exxon’s projections, will be natural gas, wind and nuclear, while coal and solar will be too expensive, even if carbon dioxide is priced at $60 per ton.
The company doesn’t have much use for carbon capture and storage, noting Read More »
Happy news all around.
The labor market showed signs of recovery this morning, with the rate of job losses slowing to almost zero in November, and the financing environment for cleantech looks to be improving by the day.
Yesterday we saw Hudson Clean Energy Partners pat itself on the back for raising just over $1 billion in what founder Neil Auerbach called “one of the most challenging funding environments in recent memory…”
No doubt, you did well Neil, but we’re pleased to say that that success may be symptomatic of a more general recovery. The Cleantech Group is reporting more than 77 cleantech deals in the last 14 days.
What can account for this rush? Read More »
