Running out of energy

Total UK energy production was a record 13.5% lower in 2011 than it was in 2010. This meant that we had a net import dependency of 36.5%, the highest level since 1976, according to statistics just released by the Department of Energy and Climate Change (DECC). Oil production was 17.5% lower than in 2010 and continued a downward trend which … Continue reading

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Surge in the use of renewable energy in the EU

Between 1999 and 2009 the share of renewable energy in the EU27 rose from 5% of total gross inland energy consumption in 1999 to 9% in 2009. Renewable energy comprises hydro, wind, biomass, geothermal and solar energy. All Member States showed increases in the share of renewable energy over this period but the largest increases were in Denmark (from 8% … Continue reading

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Could the global recovery be hit by rising oil prices?

Earlier this week the price of Brent Crude oil rose to $95 a barrel, which was the highest level for just over two years. Although this has fallen slightly since it is still a major cause for concern. There are pressures on both the demand and supply sides. The International Energy Agency has forecast that oil consumption will increase by … Continue reading

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Oil price falls as demand forecast slashed

Yesterday, the price of Brent crude oil fell 8 cents to $52.06 whilst US crude fell 60 cents to $49.45. This was in response to a new forecast of world demand published by the International Energy Agency (IEA). The price of oil has been in the $47-54 range for the last month, after falling to a low of $32.40 in … Continue reading

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