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BNEF: Oil price plunge to have only moderate impact on low-carbon electricity development, but likely to slow EV growth

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The collapse in world oil prices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New Energy Finance. However, the slump in the Brent crude price per barrel from $112.36 on 30 June to $61.60

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BP approves revamped $9B Mad Dog Phase 2 project in the deepwater Gulf of Mexico; down from original $20B cost

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BP has sanctioned the $9-billion Mad Dog Phase 2 project in the United States, despite the current low oil price environment. Oil production is expected to begin in late 2021. In 2013, BP (operator, with 60.5%

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EIA AEO2015 projects elimination of net US energy imports in 2020-2030 timeframe; transportation energy consumption drops

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The Annual Energy Outlook 2015 (AEO2015) released today by the US Energy Information Administration (EIA) projects that US energy imports and exports will come into balance—a first since the 1950s—because of continued oil and natural gas production growth and slow growth in energy demand. With greater U.S.

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TransCanada terminates Energy East Pipeline and Eastern Mainline projects

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The Eastern Mainline Project would have included four sections of new 36-inch diameter natural gas transmission pipeline between the City of Markham and the Township of Edwardsburgh/Cardinal. Transcanada began the application process in 2013, when oil prices were substantially higher.

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EIA Energy Outlook 2013 reference case sees drop in fossil fuel consumption as use of petroleum-based liquid fuels falls; projects 20% higher sales of hybrids and PHEVs than AEO2012

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The US Energy Information Administration released its Annual Energy Outlook 2013 (AEO2013) Reference case (the Early Release ), which highlights a growth in total US energy production that exceeds growth in total US energy consumption through 2040. The United States becomes a net exporter of natural gas earlier than estimated a year ago.

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IRENA report finds renewable power costs at parity or below fossil fuels in many parts of world

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The cost of generating power from renewable energy sources has reached parity or dropped below the cost of fossil fuels for many technologies in many parts of the world, according to a new report released by the International Renewable Energy Agency (IRENA). Real weighted average cost of capital is 7.5% Source: IRENA.

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CAPP forecasts oil sands development still drives steady Canadian oil production growth to 2030

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According to CAPP’s 2014 Crude Oil Forecast, Markets and Transportation , total Canadian crude oil production will increase to 6.4 million barrels per day in 2013. For comparison, CAPP’s 2013 forecast estimated total production in 2030 at 6.7 million barrels per day, with oil sands production contributing 5.2

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