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IEA: COVID-19 crisis causing the biggest fall in global energy investment in history

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Oil accounts for most of this decline as, for the first time, global consumer spending on oil is set to fall below the amount spent on electricity. This could be particularly detrimental to the outlook in some developing countries, where financing options and the range of investors can be more limited. —Dr Birol. —Dr Birol.

Global 344
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Texas Clean Energy Project signs long-term CO2 offtake agreement with Whiting Petroleum for enhanced oil recovery; 90% CO2 capture from IGCC coal polygen plant

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The TCEP would integrate coal gasification, combined-cycle power generation, CO 2 capture, and. We now have sales commitments in place for all three of TCEP’s main commercial products—electric power, urea for fertilizer, and CO 2 for enhanced oil recovery—and that is obviously key to getting this project underway.

Coal 186
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SGH2 building largest green hydrogen production facility in California; gasification of waste into H2

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SGH2’s gasification process uses a plasma-enhanced thermal catalytic conversion process optimized with oxygen-enriched gas. The SPEG process extracts all carbon from the waste feedstock, removes all particulates and acid gases, and produces no toxins or pollution. But, until now, it has been too expensive to adopt at scale.

Waste 448
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DOE releases draft of $8B loan guarantee solicitation for advanced fossil energy projects

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The US Department of Energy (DOE) released a draft for comment of an $8-billion loan guarantee solicitation for innovative and advanced fossil energy projects and facilities that substantially reduce greenhouse gas and other air pollution. The program is part of President Obama’s climate action plan. Earlier post.).

Energy 199
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China Energy invests $83.8M in Synthesis Energy Systems; 43.5% ownership

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SES licenses its proprietary U-GAS fluidized bed gasification technology from the Gas Technology Institute. ZJX will assist SES in the development of new joint venture businesses to deliver energy based on lower cost/lower grade coals such as lignite. Gasification company Synthesis Energy Systems, Inc. ownership stake in SES.

China 218
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President’s Jobs Council recommends an “All-in” energy strategy; from fossil fuels and pipelines, to efficiency, renewables and vehicle electrification

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More specifically, in the energy sector, the Jobs Council, which defined the challenge there as energy availability and security, recommended what it called an “All-in” strategy. An all-in approach is imperative if we hope to reduce our reliance on foreign oil and create a more diverse electricity generation portfolio.

Renewable 236
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Worldwatch: Fossil fuel subsidies continue to outweigh those for renewable energy; international pledges on reform unfulfilled

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Total subsidies for renewable energy stood at $66 billion in 2010 (a 10% increase from the year before); the total value of global fossil fuel subsidies is estimated at between $775 billion and more than $1 trillion in 2012, Two thirds of the renewable energy subsidies went to renewable electricity resources and the remaining third to biofuels.

Renewable 312