Energy markets

BPA Won’t Pay Negative Prices to Get Wind Power Producers to Curtail

3 Comments / Electricity, Energy markets, Environmental policy / By

Michael Giberson At a December 2010 meeting, the federal Bonneville Power Agency announced that it would not pay wind power producers in its area to curtail during overgeneration events that sometimes result from the way the agency manages water flow through hydropower facilities to comply with environmental regulations. When reservoirs are full, the BPA’s dams …

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Julian Simon and John Tierney Were Just Lucky, He Guesses

1 Comment / Economics, Energy markets / By

Michael Giberson Cornucopian views on resources are back in the news a bit due to John Tierney’s column at the New York Times in which he reports the settling of a wager on oil prices entered into in 2005 with oil industry analyst/peak oil proponent Matt Simmons. In brief, Simmons bet Tierney oil prices would …

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Rob Bradley Jr. Wishes His Organization Was Smaller and His Work Was Less Valuable

1 Comment / Economics, Energy markets, Regulation / By

Michael Giberson The world has plenty of empire builders, but Rob Bradley Jr. – founder and CEO of the Institute for Energy Research – apparently isn’t one of them. He wishes IER were smaller and his work was less relevant.  At his blog, MasterResource, Bradley has posted an interview of him done by Stephen Hicks, …

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Energy News and Outlook: Meet the New Year, Same As the Old Year

1 Comment / Energy markets / By

Michael Giberson A handful of energy news stories and commentary on the energy outlook: John Tierney’s energy resource optimism and James Hamilton’s response at Econbrowser. I like the response of the first commenter, Ricardo, to Hamilton: “It is not that crude oil will be with us forever but that energy sources will always give us …

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Chinese Government Having Trouble Getting Fuel Prices Right

Economics, Energy markets, Politics / By

Michael Giberson From the Financial Times beyondbric blog, some somewhat puzzling news from China about how the government’s decision to raise gasoline prices was leading to long lines at gasoline stations. In Beijing on Tuesday, long lines began to form around gas stations across the city. It was one of the first tangible signs of the …

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Iran Cuts Fuel Subsidies and Other Energy and Economics Links

Economics, Electricity, Energy markets, Professional sports / By

Michael Giberson A couple of interesting readings: The New York Times reports, “Gas Prices Soar in Iran as Subsidy Reduced.” (Also: Washington Post, Wall Street Journal.) Cape Wind Project still has half of its capacity up for sale. (Local utility claims it can find cheaper renewable power elsewhere.) The Economist, “Why do firms exist?” on …

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Oil Flows in Ghana, is the Resource Curse Soon to Follow?

Economics, Energy markets, Politics / By

Michael Giberson TAKORADI, Ghana — The impoverished West African nation of Ghana become the world’s newest oil producer Wednesday, pumping crude for the first time from an offshore field worth billions of dollars in the Gulf of Guinea. President John Atta Mills turned the oil valves Wednesday during in an inaugural ceremony broadcast live from a storage vessel …

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Did They Really Say That? Gasoline Market Stress Coming to Eastern Washington, So Officials Offer Advice

Economics, Energy markets, Regulation / By

Michael Giberson One consequence of a 14-week project to replace several locks on dams on the Columbia and Snake rivers is that gasoline transportation costs will rise in the area. Some gasoline that would have traveled up the river will have to move by train and truck instead, a more expensive process and one much …

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