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Governors' Wind Energy Coalition

January 13, 2015

Oil Prices Fall to Lowest Since 2009

By CLIFFORD KRAUSS, New York Times  •    •  Posted 2015-01-13 06:46:09

Oil prices took another sharp turn downward on Monday to levels not seen since the depths of the 2009 recession. Several international banks predicted even lower prices later this year because of an oversupplied global crude market. The latest daily downward spiral of more than 5 percent has brought several crude oil benchmarks down by more than 55 percent since June in one of the fastest drops ever for the volatile commodity. The drop came even as Venezuela and Iran coordinated their efforts to persuade OPEC to cut production; Canadian Natural Resources, a major global producer, announced deep investment cuts; and American companies dropped their rig drilling count at quickening speed. [ read more … ]

Feeding the Beast With Ever-Cheaper Oil

By JOHN SCHWARTZ, New York Times  •    •  Posted 2015-01-13 06:48:18

GOOD news! Oil prices have dropped through the floor. Or is it bad news? That depends entirely on whose news you’re talking about. For most of us, the most immediate impact of the price of a barrel of crude dipping below $50 is lower prices at the fuel pump. It wasn’t long ago that I paid more than $3.50 a gallon to gas up; during my visit to Texas over the holidays, I marveled at a gas-station receipt for $1.96 a gallon. I’m thinking of having it framed. Or maybe bronzed. [ read more … ]

Wind energy shifts direction

By Lindsay Kalter, Boston Herald  •    •  Posted 2015-01-13 06:47:10

With the Cape Wind project on the ropes, the industry’s future in Massachusetts may rest on a federal wind power auction later this month for a sprawling area off Martha’s Vineyard. Twelve companies have qualified to bid Jan. 29 as the federal government auctions four commercial leases for 742,000 acres of sea roughly 14 miles south of Martha’s Vineyard. The power generated, if leased and used by the industry, could provide electricity for about 1.4 million homes, the Bureau of Ocean Energy Management said. [ read more … ]

Wind energy hits headwinds

By Peter Galuszka, Washington Post  •    •  Posted 2015-01-13 06:47:54

A proposed 145-acre, 20-megawatt project in Clarke County is being scuttled because Dominion Resources has shown little interest in buying its power. In New England, a pioneering offshore wind project, Cape Wind, is on the ropes because of the merger of two utilities and opposition by one of the Koch brothers. Cape Wind off Cape Cod might have been the nation’s first real offshore wind farm. It would run 130 turbines in Nantucket Sound with electric utilities buying the output. [ read more … ]

Cap-and-trade fund grows to $1B; groups say it could reach $2B 

Anne C. Mulkern, E&E reporter  •    •  Posted 2015-01-13 06:48:41

California will spend $1 billion to combat climate change under a new budget proposal from Gov. Jerry Brown. But some argue it will reach $2 billion. The money in the Democrat’s draft fiscal 2015-16 budget comes from the state’s cap-and-trade program for carbon emissions, which requires some businesses to account for their greenhouse gas pollution. They buy allowances at auction, with the funds going into California’s coffers. [ read more … ]

Note: News clips provided do not necessarily reflect the views of coalition or its member governors.