10 June 2009 - Recently, oil prices reached a six-month high of more than $70 a barrel, almost doubling from last December's low. This is after prices had fallen over 60 per cent from a high of US$147 per barrel in July 2008. Even with oil relatively cheap, the current economic crisis is keeping global oil demand low and supplies high. Oil analysts have been warning that the low price of crude oil could lead to an underinvestment and cause a future supply gap. The International Energy Agency (IEA) has recently reported that “…there is a real danger that sustained lower investment in supply in th ...
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10 June 2009 - The new REN21 Global Status report portrays tremendous growth and penetration of renewable energies into global markets with global capacity reaching 280,000 megawatts (MW) in 2008.
This growth is not only limited to the industrialized countries. Ever more developing countries adopt capacity targets and supportive policies for renewable energies. National targets set in 2008 and 2009 include: “Kenya (350 MW of wind and biomass power), Indonesia (9.5 GW of geo-thermal by 2025).... Bangladesh (10 percent by 2020), Madagascar (75 percent by 2020)”. Policies of particular note are ...
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