
Energy and Environment News
April 28, 2015
Top Stories
Climate Change. A new study published by the Nature Climate Change journal finds that moderate global warming over the past two centuries is linked to weather extremes such as heat blasts and intense rainstorms, and that these weather events will likely become more frequent and intense as the earth’s temperatures continue to rise. While other studies have linked extreme weather conditions to human-influenced climate patterns, this study is among the first to predict future patterns. NY Times
Oil. Reuters reports that heightened geopolitical tensions in the Middle East — particularly in light of the impending Iran–U.S. nuclear deal — are having immediate effects on oil prices as traders weigh political risks against rising supply stocks. As a result, oil prices have been increasingly volatile recently; while reports that Iran seized a U.S. cargo vessel caused a temporary spike today, a weaker dollar and newly released stockpile data continue to push prices downward. Reuters
Energy Security. Nick Butler of the Financial Times discusses the prospect of an EU “Energy Security Board” as a possible mediator for highly complex energy policy debates. Butler argues that the Board would (1) guarantee that security of supply remains a priority, (2) ensure that policies are designed and planned on a long-term basis, and (3) create a platform for various arms of the government to communicate and collaborate on aspects of energy policy. FT
Oil. Luay al-Khatteeb of Brookings asserts that the reemergence of low and volatile oil prices after three years of stability represents structural changes occurring in the market rather than normal inefficiencies of supply/demand readjustment. He predicts that unless current world oil production decreases by at least 4 percent, prices are likely to remain at around $60 a barrel — a level where most producers will earn reasonable profit margins and the U.S. as a whole will benefit from improved balance of payments and greater market share. Brookings