Shell Oil recently became the second oil company to invest in solar energy to tap crude in older wells, putting $26 million into busy startup GlassPoint Solar.
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Scooped by Stephane Bilodeau onto Développement durable et efficacité énergétique |
Shell Oil recently became the second oil company to invest in solar energy to tap crude in older wells, putting $26 million into busy startup GlassPoint Solar.
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A serious debate about the appropriate level of US energy subsidies should begin with the facts, rather than with misperceptions. It should also focus first on the goals of such incentives, before jumping to the details of this tax credit vs. that one. What do we want these measures to achieve? If it's simply the promotion of energy production, then the current incentive system looks too heavily skewed in favor of renewables. If it's jobs, then we should be realistic about how many can be added by such a capital-intensive sector. If it's the promotion of both energy security and innovation, then at least parts of the current system look directionally right, though I'd argue that we'd benefit from spending more on renewable energy R&D and less on the deployment of mature-but-expensive technologies like wind. However, if emissions and climate change are our primary concerns, then these incentives are not a terribly effective way to address them. My own expectation is that regardless of whether the wind tax credit is extended for another year, most of the tax incentives that the EIA assessed here will eventually be swept away by tax reform focused on reducing corporate tax rates to improve US competitiveness, while eliminating loopholes to make the changes revenue-neutral.
Via Hans De Keulenaer Delete the scoop?
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Fossil-fuel subsidies are a growing fiscal burden that encourage wasteful consumption. See which countries have the largest subsidies around the world.
Nations are weighing phaseout of fossil fuel subsidies, a growing fiscal burden that ratchets up carbon dioxide emissions by encouraging wasteful oil, natural gas, and coal consumption. The largest subsidies are in developing countries, which spend more than $400 billion annually shielding their populations from high fuel prices. But oil industry tax breaks and other government measures in developed nations also subsidize fossil fuels, to the tune of $45 billion to $75 billion per year. Click on the link for the interactive global map... Via Lauren Moss Delete the scoop?
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"In the complex world of enhanced oil recovery (EOR), sometimes low-tech trumps high. Case in point,
1) Royal Dutch Shell recently became the second oil major to invest in solar energy to coax heavy crude from older wells. Along with with two other investors, they’ve pumping $26 million into busy California startupGlassPoint Solar, because its low cost technology works so well in the dusty, dirty and often remote terrain of oil exploration
2) At the same time, competitors Chevron and Bright Source built a rival 27MW project just miles away (watch video), which used 3,822 expensive and unprotected heliostats, consisting of two 10′ x 7′ mirrors mounted on a steel pole.
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