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The Bullroarer - Tuesday 20th November 2007
Posted by Phil Hart on November 20, 2007 - 7:01pm in The Oil Drum: Australia/New Zealand
Petrol prices hit five month high
Motorists can expect more pain at the pump with petrol prices reaching a five month high and prices expected to continue climbing.
The average Australian price of unleaded petrol has risen for the second consecutive week, lifting two cents a litre to $1.31 in the week to November 18.
Australian, New Zealand Dollars Give Up Gains as Stocks Decline
Nov. 19 (Bloomberg) -- The Australian and New Zealand dollars erased earlier gains against the yen as Asian stocks turned to a loss, spurring investors to reduce positions in higher-yielding assets using money borrowed in Japan.
The currencies fell versus the yen as investors pared so- called carry trades after Asian stocks fell for the third straight day. The currencies still gained against the U.S. dollar on speculation six Gulf Arab states will consider changing their fixed exchange rates to the dollar.
NZ firm sells carbon credits to Europe
European energy solutions company Electrabel will buy carbon credits from New Zealand power company TrustPower over the next four years.
Electrabel will buy 228,000 carbon credits from TrustPower's Tararua II Wind Farm starting next year.
BHP Billiton's Stybarrow oil project off northwest Australia starts production
SYDNEY, Nov. 18, 2007 (Thomson Financial delivered by Newstex) -- BHP Billiton (NYSE:BHP) said Monday its 50 percent owned and operated Stybarrow oil project offshore northwest Australia has started commercial production.
The project, owned in a joint venture with Woodside Petroleum Ltd, has the capacity to produce about 80,000 barrels of oil a day.
NZ: Clean coal claims disputed
There are claims a new form of clean coal technology will give New Zealand a more secure energy supply in the future.
The New Zealand Business Council for Sustainable Development says overseas breakthroughs that claim to cut coal emissions by 90% could work in New Zealand.
...
But an energy analyst, Molly Melluish, says the technology, which relates to the storing of carbon emissions in depleted oil fields, could not be easily applied in New Zealand.
Australia: Energy Policy – Issues & Options
Australia is going for Federal Election this week. The ruling Liberal party and formidable opposition Labour Party have been locked in debate on various national issues for the last three weeks. The party chiefs, John Howard and Kevin Rud are moving around the country and meeting the citizens of different states, even those who live in rural and remote townships. A whole range of major national issues are discussed and debated such as: workplace agreements, interest rates, Iraq policies. But, the single most debated issue is climatic change and the major parties vision for the future to tackle global warming.
Infratil says it is in a strong position at the start of a global trend to renewable energy and public transport, despite yesterday posting a tax-paid profit of $12.5 million for the six months to September - nearly half that of last year's comparable period.
Suzlon bags Australian turbines order
Monday, November 19, 2007 (New Delhi):
India's largest wind turbine manufacturer Suzlon Energy bagged two orders from Australia based companies.
The contracts, totaling over 200 MW of capacity, were signed with Sydney's RPV and utility-major AGL Energy.
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NZ wind credits to Europe
Let me connect that to the Australian election; if a new government signs up to Kyoto then they are buying into a dud. While the EU trading scheme doesn't acknowledge carbon sinks such as tree planting it does acknowledge 'clean development' offsets. The theory being that future emissions are lowered compared to otherwise.
The problem with that theory is that globally we want negative growth immediately, not lowered positive growth in emissions. The Europeans can keep burning more coal indefinitely provided the Kiwis build more wind farms, even if the output is underused. Clean development might work if the same day the wind farm is switched on an equivalent coal fired station somewhere else gets dynamited. Doesn't seem to work that way however.
Google this topic to get some bizarre examples of 'clean development' offsets. Ask if they are different in principle to wind farm credits.
Back to Australia..I'm all for Rudd signing on to
Kyoto but let's make it a customised tough version without the clean development giveaway.
I think this was missed in earlier Bullroarers:
Cullen Assumes NZ Will Escape Oil Prices Fallout