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THE WALL STREET JOURNAL: Energy Newstand: Gas Pockets

Posted by Keith Johnson
January 25, 2008, 9:51 am

What the Fed couldn’t do, the stimulus package apparently can: AP reports that optimism over the economic package drove oil prices over $90. Bloomberg notes that rate cuts and a weaker dollar are also behind oil’s quick rebound.

More fodder over oil’s future from Royal Dutch Shell. The oil major expects demand to outstrip supply in seven years, reports the London Times. Shell envisions either a mad scramble for resources or greater international cooperation on energy issues. Meanwhile, in an internal email, Shell reportedly said that unconventional fossil fuel sources will become more important. Ask BP: Canada’s Financial Post reports that BP is following up its tar-sands revival with a new $1 billion unconventional natural gas project there.

Gas has Europe worried, again, reports the WSJ. Ukraine’s leaders are soft-footing talks with Russia over natural gas transit fees, because Russia has increasing choices of how to trans-ship its gas. One option is through Serbia, Russia’s newest energy partner, reports AP via the WSJ.

Gas has coal companies increasingly interested. Peabody inked a deal with a coal-to-gas startup to explore how to turn big coal reserves into cheaper natural gas, reports the WSJ. But coal supplies are already getting squeezed. Also from the WSJ: BHP can’t meet its Australian coal-export obligations, threatening higher steel prices across Asia and possibly in the U.S. Clean Energy Digest has a video update on delays at Illinois’ FutureGen clean coal project.

Finally, the NYT reports that Sen. Barbara Boxer considers legislation to end-run the EPA’s waiver denial of California’s clean-air initiative. California itself is struggling to regulate clean energy, notes the L.A. Times. No big solar projects have been approved in almost 20 years due to a regulatory morass. And Vancouver hopes to hold the first carbon-neutral Winter Olympics in 2010, reports the Globe and Mail. Factoid watch: The torch relay accounts for 0.5% of the Games’ GHG emissions.

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