An MIT report has found that regular solar panels like the ones used today could supply much of the world with power. They believe terawatts of energy could be produced by 2050 and say that investment, not technology, could be the biggest hurdle.
Global solar panel production is expected to grow by almost a third this year which would be industry’s the best performance since 2011. China will take the lead, producing more than 75 percent of the world’s panels.
A new Texas law signed by Republican Governor Greg Abbott prohibits cities and towns from imposing local ordinances to prevent fracking and other potentially environmentally harmful oil and natural gas activities.
The US has signed a $1 billion loan guarantee deal with Ukraine, and is prepared to consider giving additional loan guarantees of up to $1 billion at the end of 2015 if Ukraine continues implementing economic reforms and cooperating with the Congress.
Iran hopes its crude oil exports will be back to the pre-sanctions level of 2.5 million barrels per day (bpd) and the oil price to rise to around $80 a barrel by end of 2016, according to Iran’s Deputy Oil Minister Rokneddin Javadi.
Russia’s Gazprom has confirmed its receiving another advance payment of $32 million from Naftogaz of Ukraine for May gas supplies. It’s Ukraine’s third installment this month, and brings the total paid in May to $102 million.
Serbia is interested in joining the Turkish Stream gas pipeline project, as it wants to ensure energy security for its citizens and cut dependence on deliveries via Ukraine, said the Serbian Minister of Foreign Affairs Ivica Dacic.
Saudi Arabia claims its oil price policy of taking investment away from US shale producers and other foreign competitors is succeeding. The OPEC kingpin continues pumping near record volumes to win market share in the global oil ‘battle’.
The Russian currency continues its recovery against the US dollar on Wednesday, trading at its highest level since the end of November 2014, as oil prices rise and investors see geopolitical risks diminishing.