GLG News by Dr. Miguel Bunuel, Lecturer
GLG News is now G+ Insights
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G+ is a community for professionals, academics and entrepreneurs to connect through online discussions and in-person meetings. You will continue to see G+ Insights (formerly GLG News) here as well as on the G+ website, where you can share and discuss the G+ Insights you read.
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Social Behavior and Public Policy for Climate Change Mitigation
January 3, 2011
Prices are not sufficient to elicit the necessary investment and behavioral responses required for the transition to a low-carbon society because there exist: Financial and “hidden” costs; multiple objectives, conflicting signals, or information and other market failures; and behavioral and motivational factors. As a consequence, standards and regulations must complement market mechanisms; information policies are required; and public financing for investment is needed.
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Market Based Policy for Climate Change Mitigation
January 3, 2011
The fundamental changes required in the energy sector for the transition to a low-carbon economy cannot be implemented if public policy does not create the proper incentives for this transition. And for public policy to be efficient it must be based on market based instruments, chiefly environmental taxes and tradable emission permits. Besides efficient, these instruments are very effective, and provide the greatest incentives for R&D.
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The Role of Carbon Capture and Storage (CCS) for Climate Change Mitigation
November 11, 2010
CCS could reconcile the continued use of fossil fuels over the medium to long term with the need for deep cuts in CO2 emissions. A demonstration program of commercial scale CCS projects would allow to prove the various CCS technologies at large scale, to identify risks and to achieve public and industry confidence in CCS. Regulatory issues, particularly around storage liability and the legality of storage will need to be resolved, and funding found to support the demonstration project phase.
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The Role of Renewable Energies for Climate Change Mitigation
November 11, 2010
Renewable energy sources will be a necessary element of any future sustainable energy system. Not only do they provide a valuable alternative to fossil fuels, they are also much more climate friendly. In economic terms, the development of this sector does present many future benefits, but in order for these to flourish it will be necessary to put a price on the negative externalities of other energy sources, which should facilitate the required investments in R&D.
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The Role of Energy Efficiency for Climate Change Mitigation
November 11, 2010
Energy efficiency is not only a requirement for climate change mitigation policies, but for overall economic efficiency. In many occasions, improving energy efficiency is a win-win option that may help to simultaneously reduce green-house gas emissions and input costs in many economic processes. In terms of business development, providing energy efficiency services through energy service companies (ESCOs) is a very lucrative business opportunity.
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The purchase of Union Fenosa by Gas Natural is going to be slightly delayed
February 4, 2009
Retraso para Gas en la CNC | www.enervia.com
1) Nothing seems likely to avoid that the CNC finally approves the purchase of Unión Fenosa by Gas Natural. What remains to know is how deep the CNC is going to get into mandating Gas Natural to make disinvestments, but we shouldn’t expect that the CNC requires large ones. The CNC cannot hurt the building of a stronger Spanish energy company, especially strong in the gas market. 2) ACS is going to have to wait a little bit more to get the money that it needs to fight for the control of Iberdrola… an interesting battle to come with an unpredictable outcome.
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More news on the Spanish Photo Voltaic (PV) solar market
February 4, 2009
Incredible growth in Spanish solar energy market spells good and bad news for PV industry | www.solarplaza.com
1) Again, it’s clear that the new feed-in tariff still makes investing in PV solar in Spain a profitable business. 2) The sector is going to be paralyzed a little bit longer, until promoters know that their facilities have been approved.
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February 3, 2009
Red contra el viento | www.enervia.com
1) The need for a thicker power grid that keeps us safe from power blackouts is obvious in many countries, including Spain. REE’s investment plans of thickening the grid in Spain, and interconnecting France and Spain through other points, should be completed as projected before the current financial crisis. 2) Social rejection to the construction of new power lines from some people (die-hard ecologists and others) is against sustainable development. 3) The growth of renewable energy production is also good news for REE’s investment plans, since it requires that those plans are completed as projected.
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The cooling of the Spanish PV solar market will lead to sustainable growth of the PV industry
February 3, 2009
Incredible growth in Spanish solar energy market spells good and bad news for PV industry | www.solarplaza.com
1) The reduction in the feed-in tariff still makes investing in PV solar in Spain a profitable business; the demand for new facilities is much higher than the new allowed quotas. 2) Previous growth in the Spanish PV industry was unsustainable. It's good news that the market is cooled down to a sustainable path. 3) The new regulation will foster cost-reducing R+D, and we’ll get faster to the point where government support is no longer needed.
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Why the Dramatic Changes in the New Regulation of Photovoltaic Solar Energy in Spain?
August 5, 2008
Energía fotovoltaica y subida de la luz | www.enervia.com
1. One of the reasons behind the new draft for the regulation of photovoltaic (PV) solar energy in Spain, which changes dramatically this sector’s regulation, is the significant effect that, the Ministry for Industry argues, the PV feed-in tariff has on the electricity tariff. But this is neither the only nor the most important factor. 2. The second reason is to provide the right incentives for research and development in the PV sector. 3. The third and most important reason is the need to cool down an industry that is growing above sustainable rates.
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The Merger of British Airways and Iberia Makes Common Sense
August 5, 2008
Iberia y British Airways se fusionan | www.elpais.com
1. The merger of British Airways and Iberia makes good common sense for at least five reasons. 2. It could even be the first step towards the largest airline in the world by merging in the future with their partner American Airlines.
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Is Gas Natural’s Purchase of Unión Fenosa the Beginning of the Battle for Iberdrola?
August 5, 2008
Gas Natural compra Unión Fenosa | www.elpais.com
1. It seems very unlikely that any last-minute surprise avoids that Gas Natural, finally and after two other attempts in 2003 and 2005, takes over a Spanish electricity company. 2. The next battle is going to be fought in Iberdrola’s court, but it’s going to be very difficult for ACS’ Florentino Pérez to win the battle against the “master and commander” of Iberdrola, Ignacio Sánchez Galán.
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August 5, 2008
LA CNE APRUEBA LA PROPUESTA DE INDUSTRIA PARA EL SECTOR FOTOVOLTAICO | www.enervia.com
1. The cap on photovoltaic (PV) power capacity will be based on annual caps with the new regulation, rather than on accumulative power, as with current regulation. 2. Feed-in tariffs are significantly cut by the new regulation, especially for on-the-ground facilities.
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Like aspirin, falling oil prices may spell relief; but we’d better heal!
January 3, 2007
Falling Oil Prices May Spell Relief for Consumers | online.wsj.com
- We shouldn’t expect a return to cheap oil prices.
- A strong economy needs to be based on fundamentals, especially an ever increasing productivity.
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Is it the end for the Abertis-Autostrade merger??
December 14, 2006
EU Questions Italy’s Bid to Block merger of Autostrade, Abertis | online.wsj.com
1. As it stands now, the merger is cancelled due to the obstacles created by the Italian government.
2. However, the merger could finally occur when the uncertainties on the new Italian road-concession tariffs disappear. But in this case, the value of Autostrade would have to decrease if the new regulation is kept as it stands now. As a result, the company resulting from the merger would be much more “Spanish” than the New Abertis was going to be, since the share exchange would be much more in favour of the Spanish shareholders.
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December 14, 2006
EU orders tough new emissions targets | www.ft.com
- While the USA and nations such as China and India don’t assume emission reduction targets; the EU won’t be able to pursue alone stricter compromises for the after-Kyoto world.
- With the tougher right allocations, carbon markets will be much lively from 2008 on.
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May Iran become a net oil importer?!
December 7, 2006
Surprise: Oil Woes In Iran (Business Week) | www.businessweek.com
- Iran needs to increase its investment in oil and gas extracting capacity, and to increase domestically the price of oil products to contain demand and increase efficiency, if it wants to keep its status as a key oil and gas exporter country. The same can be said of countries such as Venezuela.
- We shouldn’t expect cheap oil prices any more; Western countries need strong support for renewable energy sources.
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Our Achilles’ heel is energy, of course!!
December 7, 2006
Russia attacks the West’s Achilles’ heel (Asia Times) | www.atimes.com
- Russia is using its growing energy power as a geopolitical weapon against the European Union and the US.
- Western countries need to act as a whole against Russia on energy issues. This is especially true of the European Union, which should have a sole voice on these grounds, avoiding bilateral solutions as those negotiated by Germany with Russia.
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Short-run oil prices are likely to increase due to geopolitical reasons
December 7, 2006
Saudi Oil Minister Backs OPEC Cuts | online.wsj.com
- Fears of Saudi Arabia and Iran getting involved in Iraq’s conflict are giving rise to the possibility of sudden increases in short-run oil prices even as the supply situation remains relatively stable.
- The concerns over the situation in the Middle East also coincide with other factors, such as that OPEC is reducing output and that supply disruptions in Nigeria are not getting any better.
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Is E.ON abusing of a dominant position?
December 7, 2006
Eon/Endesa | www.ft.com
- Gas Natural’s lawyers keep finding new obstacles for E.ON in its battle to seize Endesa.
- It’s increasingly likely that a Spanish court of justice declares that E.ON’s bid is null.
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