egoli - Torrens Energy acquires new geothermal exploration licence at Port Adelaide

Torrens Energy Limited (TEY) has continued its geothermal exploration strategy by acquiring an additional geothermal exploration licence (GEL 293) at Port Adelaide. The company said the prospectivity of the area coincides with the State Governments plans to development of a large scale desalination plant, bringing forward the possibility of direct geothermal desalination.

Chief executive Chris Matthews believes that the Adelaide Plains Region has great potential for Hot Rock geothermal energy. "The area is known for high heat flow, is likely to have the right insulating cover, and has several great advantages including being coastal and located in a relatively underdeveloped area close to a major city", he said.

The geothermal energy company said the successful exploration of the 'GEL' would establish the potential for geothermal "hot-rock" for power generation, which could be incorporated directly into the existing power infrastructure and networks.

SMH - Backing for Adelaide hot rock power plan

Scoop.co.nz - PM Helen Clark warns on power of first-world consumers. Roundup of NZ energy and environment news.

Scoop.co.nz - Launch Of Sustainable Transport

New Zealand Business Council for Sustainable Development - Guide to Australian Political Parties Energy and Climate Change Policies. I can't find it on the Clean Energy Council site itself.

Bloomberg - Indonesia Says Planning Climate Policy a `Challenge'

The potential for developing clean-energy in Indonesia is large. The Southeast Asian nation, sitting on the Pacific Ocean's so-called ``Ring of Fire'' zone of active volcanoes, has an estimated geothermal potential of 27,700 megawatts, according to the country's energy ministry. Current installed capacity is 852 megawatts. ``Indonesia has the largest source of geothermal in the world, but the development has been very minimal,'' Sri Mulyani said. ``The incentive is not adequate compared with when we're using fossil fuel.''

Geothermal plants cost about $1.4 million a megawatt to build, 40 percent more than coal-fired generators, said Nasri Sebayang, deputy director of independent power producers at state utility PT Perusahaan Listrik Negara.

The Indonesian government plans to set up 20,000 megawatts of mostly coal-fired plants by 2010 to cut dependence on oil. This may increase emissions from the country, which is already the world's third-largest emitter of greenhouse gases after the U.S. and China, according to the World Bank.

Developing nations such as Indonesia, which is hosting the UNFCCC meeting in Bali until Dec. 14, are concerned the lack of a financing mechanism will slow economic growth, which is at risk as oil prices surge. Providing subsidies for renewable sources of energy may only widen Indonesia's budget deficit. The government may spend more than 100 trillion rupiah ($10.8 billion) next year to cap fuel and electricity prices in the country, where 37 million people live in poverty, if crude oil prices reach $100 a barrel, Sri Mulyani said.

SMH - Pacific Hydro plans to invest in wind power in Chile and Brazil

SMH - Power ranger Iemma ignites state with $15b

THE historic sale of NSW's power assets will raise as much as $15 billion and help pay for a "new vision" for urban transport, a European-style metro rail line, better country roads and improved water management.

In a coup for the Premier, Morris Iemma, cabinet and caucus voted to sell NSW's state-owned electricity retail companies and lease its power generation companies to the private sector - and use the money to launch big investment in ageing infrastructure. Mr Iemma stared down entrenched opposition in the Labor Party and the trade unions by promising "transfer payments" - worth as much as $40,000 - to all union employees who agreed to have their jobs moved to the private sector.

The sale will help fund the building of the M4 East, from the end of the M4 at Strathfield to near the western end of the Anzac Bridge. It could include a linking tunnel to Sydney Airport and Port Botany. The Premier also indicated that up to $7 billion would be spent on a metro-style subway. Details would be released early in the new year, he said, but it is understood the preferred route is from Malabar and West Ryde, running under congested Anzac Parade and Victoria Road.

SMH - A bribe by another name works wonders

The Australian - $150m fees for bankers tipped from NSW power sale

The Australian - Frenzy over BHP oil sale speculation

BANKING majors including Goldman Sachs, UBS and JP Morgan are sniffing around BHP Billiton, speculating that a merger with Rio Tinto might lead BHP to float or sell off its petroleum assets into a separate $80 billion company. Rio has no petroleum interests and its chief executive Tom Albanese is unimpressed with oil and gas.

Markets are speculating that BHP could combine its Australian petroleum assets with those of Woodside. With BHP's petroleum operations valued at about $50 billion and Woodside's market capitalisation of more than $30 billion, the combined company, at $80 billion, would be among Australia's largest. "The majors are just salivating that this could come off," said one Perth-based analyst who asked not to be named. "It would rank in the top 20 of global oil and gas businesses and give Australia real clout." ...

The next two years should see BHP Billiton benefit from several years of investment in projects coming on stream, particularly in the Gulf of Mexico and the North West Shelf. Even so, industry analysts believe a trade sale of the petroleum division would be difficult, given that most of BHP Billiton Petroleum's assets are in Australia, specifically half of the Bass Strait oil and gas fields and one sixth of the North West Shelf export LNG project, Australia's biggest single resources development.

BHP Billiton is also heavily involved in new oil projects on the North West Shelf which will offset the country's increasing costly dependence on imported oil and refined product. The previous federal government in 2001 blocked Shell gaining control of Woodside on the grounds of national interest. It is thought that with the greater global concern about national energy security that has emerged in the past six years, the new Rudd Labor Government will not favour ownership of these key assets being further diluted overseas.

SMH - Carbon trading scheme achievable by 2010: economist Ross Garnaut

SMH - Kyoto's 10th birthday marred by problems for new climate pact

SMH - War of words on emissions confronts PM Rudd

SMH - Decision on greenhouse targets to wait

THE Prime Minister, Kevin Rudd, has refused to speed up a decision on Australia's 2020 greenhouse target, despite it being one of the things organisers of international talks in Bali most want an agreement on.

SMH - Greenland ice melting at record rate

The extent of the melt area was 10 per cent greater than the last record year, 2005, the scientists found. Greenland is about the size of Queensland and NSW combined and about 80 per cent of it is covered by the ice sheet. One-twentieth of the world's ice is in Greenland; if it all melted it would be equivalent to a 6.4 metre global sea level rise, the scientists said.

The Australian - Woodside loses in $500m tax appeal

WOODSIDE has lost a Federal Court appeal against a tax office ruling that it is not entitled to claim more than $500 million in hedge loss transactions on the Laminaria/Corallina oil fields in the Timor Sea. The losses were claimed for 2000, 2001 and 2002 when the fields, closer to Timor than Darwin, were collectively Australia's biggest oil producer.

Energy Current - Unimar provides vessels for Maari platform installation. Another oil field offshore Taranaki.

SMH - Talks with rivals for 'alternative scenarios' for Sydney transport smartcards

The Australian - Regulator to take control of energy crises in WA

Solarhome - Energy Matters has cool wind and solar energy Google Map