Tag Archives: Energy

This gigantic hybrid ship can run on a battery

28 Jun

Originally posted on Grist:

Although gigantic ships are relatively efficient — compared to, say, transporting massive amounts of stuff by airplane — they do use an astounding amount of fuel. The shipping industry is working on this problem. In particular, a Norwegian shipping company and a marine energy company are partnering to work on a hybrid ship, the Viking Lady.

The Viking Lady (how awesome is that name?) already has a fuel cell installed that helps reduce its energy impact. Next year it should be getting a battery. Together, those features will mean it won’t have to burn gas while it’s hanging out in port — not only saving energy, but keeping down emissions.

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Oil prices rebound as Spanish bond prices recover

19 Jun

Originally posted on Financial Post | Business:

By Sherry Su and Rupert Rowling

Oil rebounded along with equity markets as Spanish bond prices recovered after the government met its target at a debt auction.

Futures in New York rose as much as 0.5 percent, after dropping 1.2 percent, as the cost of insuring Spain’s debt fell from a record. Greek political leaders may agree as soon as today to form a government and to seek relief from austerity measures, also helping ease concern that Europe’s debt crisis will curb fuel demand. Talks with Iran, OPEC’s second-largest producer, resumed today in Moscow over its nuclear program.

“Spain had to pay much higher interest rates for its bills, but attracted sufficient buying interest, which is apparently seen as positive,” said Carsten Fritsch, an analyst at Commerzbank AG in Frankfurt. “Supply risks are not really an issue at the moment.”

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Romney energy advisor on oil subsidies: four more years!

12 Jun

Originally posted on Grist:

In an appearance before the Senate Finance Committee tomorrow, the CEO of Continental Resources will argue for preserving the billions of dollars in tax subsidies the federal government provides to oil companies each year. Given that Continental Resources bills itself as “America’s Oil Champion” (after, we assume, a difficult championship battle), the CEO’s stance probably comes as no surprise. In fact, it’s hard to figure out why the Senate’s even bothering to hear from him, when a large blinking sign reading MORE MONEY PLS would be functionally equivalent.

But the CEO of Continental Resources, one Harold Hamm, isn’t just another energy executive. He’s also chair of Mitt Romney’s energy advisory team. The Hill got a copy of his planned testimony, in which Hamm declares that “[t]he tax provisions that let us keep our own money to reinvest in drilling are crucial to keep this energy revival going.” More…

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