GLG News by Electricity Distribution Experts in GLG Member Programs

Himadri BanerjiChairman and Managing DirectorEcoUrja

Life After New Rules: Is Colorado Oil Industry Losing Steam?

March 30, 2009

Analysis of:Colo. lawmakers approve landmark oil, gas rules | www.sfgate.com

The new Colorado gas and Oil Industry rules give more weight to public health and safety, wildlife habitat and migration, and environmental protection when state regulators consider applications for new oil and gas wells. However opponents feel that they could cost the state more oil and gas jobs during the recession. The House passed the rules arguing that the health and safety of Coloradans who live in energy-producing areas should not be compromised.

Himadri BanerjiChairman and Managing DirectorEcoUrja

Key To Canadian Oil Sand Development is M&A, Suncor Petro-Canada Sets The Trend

March 30, 2009

Analysis of:Suncor's Petro-Canada bid may spur more deals | www.reuters.com

While larger oil sands players like Exxon Mobil Corp and Royal Dutch Shell aren't likely to see any cost savings by acquiring rivals, there may be benefits for smaller players. Thus the Suncor Energy's deal to buy rival Petro-Canada may set in a wave of such buyouts or mergers for consolidation hoping for cost savings and a stronger balance sheet for seeking financing and independence, as Suncor is targeting.

Himadri BanerjiChairman and Managing DirectorEcoUrja

Brazil's Burgeoning Oil Industry:High Stakes On Petrobras

March 29, 2009

Analysis of:The next oil giant? Brazil's oil industry has big hurdles to clear | www.economist.com

With the massive oil find in the Santos basin, Brazil is on its ways to become a major oil producer of the world. However the present global scenario poses serious challenges to oil field development.The onset of a sharp global economic slowdown coupled with recent currency-derivatives losses and continued uncertainty regarding the value of the Real has brought financing constraints and low risk appetite on the part of foreign investors. Thus with hardly any foreign capital available, large Brazilian companies are therefore increasingly likely to rely on local banks for credit at high premium spreads pushing the cost of borrowing upwards. Concurrently, the Brazilian Government is redefining the policy for private participation in oil field development. An approach under consideration is to turn concession contracts into production-sharing agreements with Petrobras after recovering fixed costs, a departure from the existing royalty or participation tax based contracts.  

Thomas ShewskiOwnerHigh Energy Services

Potential Setback for Central Appalachia Mine Permits

March 24, 2009

Analysis of:EPA Halts Hundreds of Mountaintop Mining Permits | www.miamiherald.com

    EPA sent two letters to the U.S. Army Corps of Engineers expressing serious concerns about the need to reduce the potential harmful impacts on water quality caused by certain types of coal mining practices, such as mountaintop mining. The letters specifically addressed two new surface coal mining operations in West Virginia and Kentucky. EPA also intends to review other requests for mining permits.     This EPA action follows shortly after the Court’s favorable ruling on the mining practice in February 2009.  This EPA action may negatively affect the producers.

Thomas ShewskiOwnerHigh Energy Services

SO2 Allowances Comments

March 24, 2009

Analysis of:2009 EPA Allowance Auction Results | www.epa.gov

    SO2 allowances are traded daily in the broker and private party markets.  The value of these credits are down substantially, affecting both the cost to generate electricity on coal and the realized sales price received by coal suppliers.

Thomas ShewskiOwnerHigh Energy Services

Potential Consequences of EPA’s Proposal Regarding Global Warming on Infrastructure Projects

March 23, 2009

Analysis of:EPA: Global Warming Endangers Health. Finding Could Have Far-Reaching Implications for Economy and Environment | www.washingtonpost.com

    Back in Spring 2007, the U.S. Supreme Court ruled in a 5-4 decision that the Environmental Protection Agency (EPA) may regulate carbon dioxide (CO2) emissions.  It appears the EPA in the new Presidential Administration may be moving forward in declaring global warming endangering health, requiring regulation on CO2 emissions.   The analysis section below discusses how this could have an effect on infrastructure projects.

Himadri BanerjiChairman and Managing DirectorEcoUrja

The Hybrid Electric Car Revolution Promises More Jobs

March 23, 2009

Analysis of:When ‘clean’ cars charge up on ‘dirty’ electricity | features.csmonitor.com

In the feature article in Christian Science Monitor, the question whether electric hybrid cars will be economical or not is answered in reference to an EPRI study of 2007. It would be in order to recollect some of the findings which are below. 1.The cost of powering hybrid car on electricity equivalent to 75 cents per gallon gasoline, a price which has not occured in the last thrirty years. 2.This is based on electricity cost of 8.5 cents per kwhr and if the charging is done in the off peak hours, the cost would be even better. 3. There is enough electricity available in the off peak hours to charge three quarters of our fleet of cars without building new ppower plants.

Thomas ShewskiOwnerHigh Energy Services

Carbon Cap and Trade Program – Structure and Cost on Fossil Fuel-Fired Electricity

March 23, 2009

Analysis of:Obama Proposal Angers Coal Industry, Including Southern Indiana’s Duke Energy | www.newsandtribune.com

    The proposals by the Administration in Congress for a reduction in carbon dioxide (CO2) emissions include what is called a “Cap and Trade” program.  Under a Cap and Trade program, the amount of annual CO2 emissions would be capped and an entity would have to have a CO2 allowance for each ton (or metric ton depending on the final wording of the law) emitted during the year. 

Himadri BanerjiChairman and Managing DirectorEcoUrja

March To Economic Recovery Begins From Gainsville, Florida

March 23, 2009

Analysis of:The Rooftop Revolution | www.washingtonmonthly.com

In a story Mariah Blake an editor of the Washington Monthly reports in the March April issue that with the introduction of feed in tariff (FIT) policy in the State of Florida, there is a spurt of investments in roof top solar in a little known town of 120000 residents, called Gainesville. There seems to be a gold rush, as entrepreneurs and residents are getting into the act bringing about the much anticipated recovery in the local economy. Hitherto all sorts of incentives like tax subsidy, investment subsidy, and accelerated depreciation failed in reining in the renewable solar industry from a free fall following the global meltdown. Feed in tariff brings an additional burden on rate payers; the community seems not to be minding this for the sake of the community. With this success, more states are likely to follow and hopefully US will be on its way to become the world’s largest roof top solar country displacing Germany which has had revolutionary success with feed in tariff.

Himadri BanerjiChairman and Managing DirectorEcoUrja

The First Power Plant With Carbon Capture and Storage Plant In US

March 23, 2009

Analysis of:Stimulus Money Puts Clean Coal Projects on a Faster Track | www.nytimes.com

In a news by Matthew Wald published in the New York Times dated March 16, 2009  it is reported that Duke Energy with funds from the economic stimulus plan has commenced work on a plant for capture and storage of carbon dioxide from their new coal fuelled power plant. Environmentalists and Energy Officials are keenly watching Duke Energy’s Clean Coal Project adjacent to their coal gasification and power plant project at Edwardsport, Ind which will sequester carbon dioxide from flue gases from their power plant under construction. This will be first such venture in US and will be funded by the economy stimulus plan. With $3.4 billion in the federal stimulus bill for carbon capture and sequestration, Duke Energy and other companies are therefore motivated for developing full-scale projects. However the cost is pegged by planners at 800million to 1 billion dollars for such project and we need to build one demonstration project to really understand the proof of technology and its economics.

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